Want to be in the loop?
subscribe to
our notification
Business News
HCMC APPROVES MAJOR PROJECTS WORTH VND155 TRILLION
HCMC plans to invest VND29.317 trillion under a BT contract to develop the Nha Rong Wharf-Khanh Hoi Cultural Park Complex and Bach Dang Riverside Park - PHOTO: LE VU
HCMC – The HCMC People’s Council has approved a series of major transport and urban redevelopment projects under public-private partnership (PPP), with preliminary investment estimated at nearly VND155 trillion.
Resolutions passed at the closing session of the council’s third meeting for the 2021-2026 term on June 19 included two flagship transport projects.
The largest is a build-transfer (BT) project to construct a cross-sea road linking the ecological area of Can Gio with the coastal area of Vung Tau across Ganh Rai Bay. The project carries a preliminary investment of VND93.159 trillion. It will feature six lanes and a design speed of 80 kilometers per hour, spanning 14.06 kilometers, including an 8.01-kilometer sea bridge and a 3.85-kilometer immersed tunnel.
Another key project is the Ho Tram–Long Thanh International Airport urban expressway, which will be developed under a PPP model. The 42.07-kilometer route, designed for speeds of up to 100 kilometers per hour, is expected to strengthen logistics links between the airport and major tourism and industrial hubs in southern Vietnam.
In the city center, HCMC plans to invest VND29.317 trillion under a BT contract to develop the Nha Rong Wharf-Khanh Hoi Cultural Park Complex and Bach Dang Riverside Park. The project will convert the former Saigon Port headquarters into an exhibition space, recreate the historic Amiral Latouche-Tréville ship and build an underground parking facility linked to a pedestrian bridge across the Saigon River.
The city also approved a PPP investment plan worth VND16.369 trillion for urban redevelopment projects in the Ma Lang and Cho Ga-Gao areas, aimed at reorganizing prime land in the downtown area.
Alongside infrastructure development, the council approved a package of fiscal and social policies. HCMC decided to waive 100% of fees for the use of port infrastructure and public services at seaports, a move intended to reduce logistics costs for import-export businesses and improve the competitiveness of Vietnamese goods in global markets.
The city will also exempt eligible investment projects from land rental payments for up to 20 years, or for the entire lease period in some cases. In addition, starting July 1, all residents will be entitled to free bus travel funded by the city budget.
The council also approved new monthly allowances for local security personnel and part-time grassroots officials under a streamlined administrative model, as the city seeks to strengthen both economic development and social welfare foundations ahead of a new growth cycle.
Source: The Saigon Times
Related News
HR / LABOUR/ EMPLOYMENT
VIETNAM'S RECRUITMENT MARKET SHOWS RESILIENCE IN H1
The recruitment market remained resilient during the first half of 2026 despite ongoing global economic and geopolitical uncertainty, according to a report released by Adecco on August 3. While overall hiring demand remained broadly flat on-year, employers continued to prioritise strategic and business-critical positions that support growth, operational efficiency, digital transformation and governance.
INFRASTRUCTURE / CONSTRUCTION / LOGISTIC / PORT
VIETNAM CHARTS NEW COURSE FOR MARITIME INDUSTRIAL ECOSYSTEM
The conclusion of Party General Secretary and State President To Lam, set out in Notice No.125-TB/VPTW dated July 18, marks a new approach to the development of Vietnam’s maritime industry, with the aim of building a comprehensive maritime industrial ecosystem, strengthening national self-reliance, and supporting the country’s ambition to become a strong maritime nation.
VIETNAM ECONOMY INVESTMENT
INDUSTRIAL PRODUCTION POSTS RECORD GROWTH IN MANY YEARS
The industrial production index (IIP) rose by 11.4 per cent from January to July, the strongest seven-month performance in nearly a decade, with growth recorded across all 34 provinces and cities driven by robust processing and manufacturing, the National Statistics Office (NSO) said in an August 3 report. The IIP in July was estimated to increase by 1.2 per cent from the previous month and 14.5 per cent year-on-year, showing continued momentum in production, the NSO said.
GARMENT / TEXTILE
MANUFACTURING GROWTH STRENGTHENED IN JULY
The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) rose to 52.9 points in July, up from 51.8 points in June and signalling a solid monthly improvement in the health of the sector. Business conditions have now strengthened in 13 consecutive months, with the latest improvement the most pronounced since February.
VIETNAM ECONOMY INVESTMENT
Q2 EARNINGS GROW OVER 25% DRIVEN BY NON-FINANCIAL BUSINESSES
Listed companies continued to report solid earnings growth in the second quarter of 2026, although the pace moderated from the previous three quarters. According to data updated by FiinTrade, as of July 29, 672 out of 1,525 listed companies and banks had released either their second-quarter financial statements or preliminary earnings estimates.
HR / LABOUR/ EMPLOYMENT
NINH THUAN 1 NUCLEAR PLANT WILL REQUIRE MORE THAN 2,000 PERSONNEL
Vietnam Electricity has estimated that over 2,000 personnel will be required for the Ninh Thuan 1 Nuclear Power Project, with the two generating units scheduled to be commissioned between 2030 and 2035. The information was shared at the seventh National Conference on Nuclear Regulation, jointly organised by the Vietnam Agency for Radiation and Nuclear Safety (VARANS) under the Ministry of Science and Technology and Quang Ninh People's Committee, on July 30.
Events Sponsors
