Want to be in the loop?
subscribe to
our notification
Business News
DA NANG GREENLIGHTS $606 MILLION LOGISTICS PLAN
The central city of Da Nang has approved a master plan for the development of its logistics infrastructure by 2030 with total investment of VND13.7 trillion (US$606 million).
Vice chairman of the city’s People’s Committee Dang Viet Dung said the plan, which was submitted to the city’s People’s Council in the second quarter of this year, will focus on making Da Nang a destination for ASEAN and Asia Pacific logistics chains.
Dung said the city will allocate 312ha of land for logistics infrastructure with a series of linked roads, railway sections and stations, a cargo airport, storage and a sea port as well as the national expressway system.
He said according to the plan, the railway system will handle 55 per cent of total cargo that goes through Da Nang, while the airport and sea ports will host 40 per cent each in 2045.
By 2030, the Da Nang International Airport will be able to handle 28 million tourists and 200,000 tonnes of cargo annually, while the sea port system will host 30 million tonnes of cargo per year.
The city, which is home to a 40km section of the country’s north-south railway system, has 2,500 passenger arrivals each day and 20,000 tonnes of cargo per year.
According to the Vietnam Logistics Association, Da Nang would see a rapid growth in logistics as it is situated at the end of the East-West Economic Corridor (EWEC) that links Vietnam, Laos, Thailand and Myanmar. It also sits along the Da Nang-Quang Ngai Expressway as well as the north-south Vietnam national highway and railway system.
It said the city will develop as a transit hub for cargo from Laos, Cambodia, Thailand, the Central Highlands region and the Greater-sub Mekong, equipped to handle the specific demands of cargo shippers, oil tankers and regular shipping routes.
The city’s sea port system, which can handle 12 million tonnes of cargo each year, currently hosts 23 cargo ships per week from 15 shipping agencies from Europe, the US, Hong Kong and Singapore.
Tien Sa Port alone can accommodate 70,000DWT (deadweight tonnage) ships, 4,000TEU (twenty-foot equivalent units) container ships and 150GT (gross tonnage) cruise ships.
The city will develop Lien Chieu Port as an integrated port and a key ASEAN cargo destination in the plan’s first stage (2019-22).
According to the Economic Research Institute for ASEAN and East Asia, the 1,450km EWEC road will help Da Nang boost its Regional Gross Domestic Products by 2.29 per cent by 2025.
Source: VIR
Related News
BUSINESS ENVIRONMENT REFORM NEEDS FURTHER PROMOTION: EXPERT
Ministries, sectors and localities need to drastically improve the business environment, including improving the efficiency in implementing reform. That was the message from Nguyễn Thị Minh Thảo, head of the Business Environment and Competitiveness Research Department at the Central Institute for Economic Management (CIEM).
MINISTRY ASKS CARRIERS TO DEVELOP FLEET OPERATION PLAN TO MEET SUMMER TRAVEL DEMAND
In a document sent to the Civil Aviation Authority of Việt Nam, the ministry said that the restructuring of some airlines’ fleet and flight networks, coupled with the recall of PW1100 engines by Pratt & Whitney for repair, have affected the load on both international and domestic flight routes, causing difficulties to passengers in terms of prices and schedules.
US AND VIETNAM BUILD MOMENTUM WITH UPGRADED TIES
In the six months since the historic upgrade of the US-Vietnam relationship to a Comprehensive Strategic Partnership, the United States and Vietnam have built on the momentum of our elevated relationship to advance bilateral cooperation across a range of areas.
LENDING SLOWDOWN THREATENS TO DELAY REAL ESTATE RECOVERY
Phan Duc Tu, chairman of BIDV’s Board of Directors, said, “Over the first 80 days of 2024, BIDV has disbursed loans totalling $18.95 billion to the economy. However, the figure is lower than its debt repayment of $19.55 billion. As of March 11, the bank’s outstanding balance contracted approximately 1 per cent compared with the end of 2023.”
PERFECT SPRINGTIME SIP AT LEGEND LOUNGE
Ho Chi Minh City, February 28, 2024 - The season of love dedicated to women has returned to the LOTTE HOTEL SAIGON, offering ladies impressive and sophisticated experiences. A highlight not to be missed at The Canvas seafood buffet restaurant is the masterpiece Lobster Ravioli. Visit Ottimo House to enjoy premium Italian cuisine prepared with Australian Wagyu beef. On Mondays and Tuesdays, Yoshino Japanese Cuisine Restaurant offers a 20% discount on sashimi. Discover the classy space and enjoy the new drinks available at Legend Lounge, including "Cherry Blossom Latte" and "Strawberry Afternoon Tea.". To end your self-love journey, Legend Healing Spa will be offering 20% off two special treatments.
VIETNAM RANKS IN TOP 5 FAVOURITE INVESTMENT DESTINATIONS AMONG ASIA’S EMERGING AND DEVELOPING COUNTRIES
The US' Milken Institute released the Global Opportunity Index (GOI) on March 5. The GOI remains a strong predictor of capital movements 10 years after its inception. The index alone explains 64.7 per cent of the variation in per capita foreign direct investment (FDI) inflows and 51.7 per cent of per capita portfolio inflows to countries across the world. The 2024 GOI report provides a global overview of countries' attractiveness and capital inflows.