Vietnam news in brief - April 19
Update the latest stories in Vietnam with The Hanoi Times.
Prime Minister wants Warburg Pincus to expand investment in Vietnam
Prime Minister Pham Minh Chinh on April 18 told Jeffrey Perlman, CEO of Warburg Pincus and Chairman of USABC that Vietnam hoped the managed fund would expand its investment in Vietnam and help mobilize capital for sustainable trade. Managing US$83 billion in global assets, Warburg Pincus has invested more than US$2 billion in Vietnam since 2013, with big projects in retail, banking, tourism, and healthcare.
Prime Minister Pham Minh Chinh meets with Jeffrey Perlman, CEO of Warburg Pincus on April 18. Photo: VGP
Vietnam to halve import quota of ozone-depleting substances for 2025
Vietnam will cut 50% of its HCFC import quota for 2025 to 1,300 tons, according to the Ministry of Agriculture and Environment. The move is in line with Vietnam's Ozone Protection Roadmap and its net-zero emissions goal by 2050 by reducing more than 11 million tons of CO₂ over the next 20 years. Companies must adhere to their assigned quotas and submit annual usage reports to the government.
VINACS launches USD 25.8 million in-flight catering project at Long Thanh Airport
The Civil Aviation Authority of Vietnam and Vietnam Air Catering Services Company (VINACS) have broken ground on the US$25.8 million in-flight catering facility at Long Thanh International Airport. The project is expected to be completed in 18 months and will operate for nearly 25 years with a daily capacity of 20,000 meals. Long Thanh Airport is expected to open by the end of 2025 and handle 25 million passengers and 1.2 million tons of cargo annually in its first phase.
Rendered image of Passenger Terminal of Long Thanh International Airport. Photo: ACV
EEVNNPC ramps up projects to meet Summer power demand
The Northern Power Corporation (EVNNPC) is fast-tracking infrastructure projects to boost power capacity ahead of peak summer demand, as northern Vietnam braces for temperatures reaching 35–36 degrees Celsius. At the same time, the utility is urging consumers to adopt energy-saving practices and expand rooftop solar installations to ease pressure on the grid.
The Temple of Literature at night. Photo: Lai Tan/The Hanoi Times
Vietnam promotes culture heritage through contest
The Vietnam Cultural Heritage Association and Vietnam University of Fine Arts have launched the 2nd “Vietnam Cultural Heritage through Painting” contest from September 2024 to November 2025. Open to all Vietnamese citizens worldwide, the contest offers a total prize fund of around US$38,000. Winning works will be displayed at major cultural venues, aiming to raise public appreciation of Vietnam’s rich heritage.
HCMC approves US$ 4.8 billion to build Ring Road 4
Ho Chi Minh City (HCMC) has approved a mega infrastructure project worth more than US$4.8 billion to build the 159km Ring Road 4, which will pass through four current southern provinces: Dong Nai, Binh Duong, Long An, and Ba Ria-Vung Tau. The three-year project starting in 2026 is expected to improve inter-regional connectivity, promote urban expansion, and socio-economic development throughout the Southeast region.
Binh Duong proposes US$2.2 billion metro line
The southern province of Binh Duong has submitted a US$2.2 billion investment proposal for Metro Line No. 1 connecting its Thu Dau Mot City with Suoi Tien Station in Ho Chi Minh City. The 29-kilometer route will feature 19 stations and a design speed of 120 km/h. The project aims to improve inter-provincial transportation, reshape urban development, and enhance infrastructure links between Ho Chi Minh City and the rapidly growing industrial hub of Binh Duong.
