MARKET SNAPSHOTS WEEK 41/2022
Underground tunnel at Le Van Luong - Ring Road 3 comes into operation
On October 5th, the Le Van Luong tunnel, with total investment of VND 700 billion, became open to traffic, reducing congestion at the intersection with Ring Road 3. According to the Hanoi Department of Transport, this is a two-way tunnel at the intersection of Le Van Luong - Ring Road 3, connecting Le Van Luong - To Huu street.
Five upcoming projects connecting Ho Chi Minh City with Long An
5 upcoming projects include Ring Road 4, Northwest new Open Road (Binh Chanh district, Ho Chi Minh City) connecting with DT.823D road (Duc Hoa district, Long An province), Vo Van Kiet road extension (Binh Chanh district) connecting Hai Son - Tan Do Industrial Park (Duc Hoa district), Le Van Luong street (Nha Be district) connecting with road 826C (Can Giuoc district), and Green Environment Technology Park Project.
Parliament wants Southern Vietnam's longest Expressway to be completed by 2024
Ben Luc – Long Thanh Expressway should be finished by 2024 instead of 2025, the National Assembly chairman ordered. Running 57.7 kilometers between the provinces of Long An in the Mekong Delta and Dong Nai and passes through Ho Chi Minh City, it will be the longest in Southern Vietnam once completed. Construction started in 2014 but funding issues have delayed it several times.
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Six airports proposed to be expanded in the form of PPP
Na San (Son La), Vinh (Nghe An), Chu Lai (Quang Nam), Can Tho, Tho Xuan (Thanh Hoa), Lien Khuong (Lam Dong) airports are proposed to be expanded in the form of PPP. To create a legal corridor, the Ministry of Transport has developed a project-oriented to mobilize social capital to invest in airport infrastructure.
FDI poured into real estate sector doubles
Real estate sector attracted 3.5 billion USD in FDI in the first nine months of this year, accounting for nearly 19% of total FDI that the country lured in the period, ranking the second among sectors in terms of FDI attraction. Deputy Minister of Planning and Investment said that in order to attract more investment in the sector, it is necessary to deal with problems in ground clearance and land rent.
Four banks have adjusted credit room
The State Bank of Vietnam has officially adjusted credit room for four banks to support weak credit institutions. VPBank has the largest modification with an adjusted limit of nearly VND45 trillion ($1.88 billion). MB ranks second in the list with an adjusted limit of over VND20 trillion ($837.64 million). HDBank came third with a credit limit of approximately VND11 trillion ($460.7 million). SBV has also adjusted the credit room of Vietcombank. However, the bank's adjusted limit was less than VND9 trillion ($376.8 million).