Despite the efforts to attract private sector investment into infrastructure projects, 50% of the investment are still sourced from the state budget and ODA loans, while drivers still suffer from high road tolls. 50% of the investment are still sourced from the state budget and ODA loans Total investment into road constructions have reached USD14.2bn of which USD7bn has been sourced from the state budget or ODA loans, according to a report from the Central Institute for Economic Management (CIEM). In order to boost the country’s development, infrastructure must be improved. According to the Ministry of Transport, total investment needed to develop infrastructure until 2020 is estimated at USD48bn. However, the state budget can only afford 28% of the projected costs. The private sector has helped to improve the infrastructure recently but there are still many shortcomings. According to the CIEM, out of the USD14.2bn investment for road construction, USD7bn is sourced from the … [Read more...] about Vietnam fails to tame road costs
High road
Motorbikes involved in 70 per cent of road accidents
More than 70 per cent of traffic accidents in Vietnam involve motorbikes, according to the vice-chairman of the National Steering Committee on Traffic Safety, Khuat Viet Hung. Motorbikes are the most popular means of transport for many Vietnamese people. However, more than 70 per cent of traffic accidents in Vietnam involve the two-wheelers. The vice-chairman told a press conference yesterday said that better management of traffic was needed. He also admitted that many roads had been poorly built. He was speaking about the organisation of a conference next week to promote measures to improve management. Motorbikes are the most popular means of transport for Vietnamese because they are so cheap, flexible and mobile. At present, they account for more than 85 per cent of the total number of vehicles operating nationwide. Hung said that as motorbikes began to increase because of socio-economic development, the quality of a number of roads started to decline. He admitted that many … [Read more...] about Motorbikes involved in 70 per cent of road accidents
ADB praises Vietnam’s high economic growth and reaffirms strong support
ADB president Takehiko Nakao met with Prime Minister Nguyen Xuan Phuc at the meeting on March 30 President of the Asian Development Bank (ADB) Takehiko Nakao met with Vietnam’s Prime Minister Nguyen Xuan Phuc during a three-day visit to Hanoi, where they discussed Vietnam’s recent economic development and continued ADB support. Nakao also met with Governor of the State Bank of Vietnam Le Minh Hung and will participate in the 6th Greater Mekong Subregion (GMS) Summit and the 10th Cambodia–Lao PDR–Viet Nam (CLV) Summit. Nakao commended the government for steering Vietnam’s economic growth to 6.8 per cent in 2017, the highest since 2007. The country has pursued sound macroeconomic policies and reduced the budget deficit in 2017, pushing down the total public debt to GDP ratio. ADB projects Vietnam’s economic growth to exceed 7 per cent in 2018, led by robust export growth, rising domestic consumption, and strong investment fueled by continued foreign … [Read more...] about ADB praises Vietnam’s high economic growth and reaffirms strong support
In Fukushima ghost town, a factory on the road to rebirth
Namie was under a government-mandated evacuation order, which was partially lifted last year AFP/Behrouz MEHRI Namie in Japan's Fukushima region remains a virtual ghost town seven years after a devastating tsunami and nuclear disaster, but officials hope a new factory recycling electric car batteries could help revitalise the area. Tsunami waves inundated Japan's northeastern coast on March 11, 2011 after a magnitude 9.0 earthquake, ripping buildings from their foundations and triggering a nuclear disaster. Namie was under a government-mandated evacuation order, which was partially lifted last year, and encouraging residents to return has proved an uphill struggle. The facility built by Japanese automaker Nissan in the town is employing new technology to recycle electric car batteries. For now, the factory is basic, virtually empty, and employs just 10 people, but Nissan and government officials hope it might prompt other businesses to follow suit, and eventually draw people back to … [Read more...] about In Fukushima ghost town, a factory on the road to rebirth
CBRE: Hà Nội to have high supply of retail space this year
Retail space is expected be abundant this year in Hà Nội with a total of 157,000 sq.m coming from eight projects under development, according to the CBRE’s Real Estate Market Outlook in Việt Nam.– Photo zing.vn HÀ NỘI – Retail space is expected be abundant this year in Hà Nội with a total of 157,000 sq.m coming from eight projects under development, according to the CBRE’s Real Estate Market Outlook in Việt Nam. Under the outlook released recently, this is the most new projects ever planned for a single year. Most of these new projects are located in fast developing residential areas with good infrastructure and which are expected to attract retailers and consumers. Despite this new supply causing pressure on the vacancy rate, the average market rent is still expected to remain relatively stable or even to slightly improve, according to CBRE. Malls as a component of residential complexes will … [Read more...] about CBRE: Hà Nội to have high supply of retail space this year