Vietnam News Highlights for May 29, 2023

Ha Tinh to welcome US$8.5 billion investment capital

The group photo shows the enterprises that will make a US$8.5 billion investment in the central province ofHa Tinh Province. Photo: VGP

Twenty-five companies, including T&T Group, Vingroup, Sun Group, and TH Group, pledged on May 28 to invest VND200 trillion (US$8.5 billion) in Ha Tinh Province to develop industrial parks, low-cost housing, and tourist entertainment facilities. On the same occasion, provincial authorities approved 15 business projects worth VND9.6 trillion (US$408.8 million).

Ha Tinh has nearly 1,500 enterprises with total registered capital of VND454 trillion (US$19.3 billion).

Ha Giang, Tuyen Quang inaugurate inter-provincial highway

Tuyen Quang and Ha Giang began construction of a 104.48-kilometer expressway on May 28 to improve transportation from the capital Hanoi to the two northern mountainous provinces through the Noi Bai-Lao Cai Expressway and boost socio-economic development in the northern region.

The first phase, covering 27.48 km, is expected to be completed in 2025 with a total investment of VND3.19 trillion (approximately US$136 million). The road will be upgraded and expanded in the following years.

Four bronze medals for Vietnamese physics students

Vietnamese students who participated in the 2023 Asia-Pacific Physics Olympiad in Mongolia won four bronze medals and four certificates of merit, the Ministry of Education and Training announced on May 28.

The competition started on May 21 and attracted 195 students from 26 teams representing 25 countries and territories. Vietnam was one of seven teams, with all contestants winning prizes. The students were selected from various high schools for gifted students across Vietnam.

Robocon Vietnam 2023 has found the winner

Team DCN-DT02 from Hanoi University of Industry won Robocon Vietnam 2023 on May 28. The team will represent Vietnam in the global competition ABU Robocon 2023, to be held in Cambodia in August 2023.

Robocon Vietnam is the annual national competition for students to design and operate robots. A total of 67 teams across the country participated in the 2023 event, and eight qualified for the final showdown on May 28.

Haiphong launches social housing project

The northern port city of Haiphong inaugurated ten 15-storey low-cost residential buildings in Trang Due Industrial Park on May 28. The project aims to meet the housing needs of local workers and foster the development of industrial parks in the city.

The project will provide the market with more than 2,500 housing units with floor areas ranging from 26m2 to 55m2. The project is worth nearly VND1.6 trillion and is expected to be completed in Q4/2025.

Five-month outbound investment reaches US$316 million

Vietnamese enterprises invested US$316.4 million overseas in the first five months of 2023, focusing on retail and wholesale trade, information and communication, finance, banking, and agro-forestry-fishery. Canada was the preferred market for Vietnamese enterprises to set up overseas operations, followed by Singapore, Laos, and Cuba.

As of May 20, Vietnamese enterprises had nearly 1,650 valid overseas projects with a total investment of nearly US$22.1 billion.