Business

Vietinbank to help finance Hanoi metro

The State Bank of Vietnam (SBV) has assigned the Vietnam Bank for Industry and Trade (Vietinbank) to arrange funds for the Hanoi Railway Station – Nhon urban metro rail project (line 3).
The State Bank of Vietnam (SBV) has assigned the Vietnam Bank forIndustry and Trade (Vietinbank) to arrange funds for the Hanoi RailwayStation – Nhon urban metro rail project (line 3).

According to the SBV, Vietinbank will arrange a total of 783 million EUR (1.01billion USD ) towards the project.

Financing includes 293 million EUR (381 million USD) from the AsianDevelopment Bank (ADB), 250 million EUR (325 million USD) in OfficialDevelopment Assistance (ODA) from the French Government, 110 million EUR(143 million USD) in ODA from the French Development Agency (AFD), 73million EUR (94.9 million USD) in ODA from the European Investment Bank(EIB) and 130 million EUR (169 million USD) from the Hanoi City budget.

The 12.5 km route will include 8.5 km of elevated track connecting theNhon depot with Thu Le Park and 4 km of underground track connecting ThuLe with Hanoi Railway Station.

The Hanoi MetropolitanRail Transport Project Board (HRB) will oversee the project, which willinclude a viaduct, power supply stations and a depot.

Expected to become operational in 2015, the line will carry 150,000 passengers per day, to increase to 500,000 by 2030.

The metro project is part of a Vietnam Ministry of Transport masterplan aimed at reducing the use of private transport to enhance the urbanenvironment. -VNA
Follow VietnamPlus

See more

Industrial factories in Tan Uyen city, the southern province of Binh Duong (Photo: VNA)

Investors upbeat about Vietnam’s industrial property market

Investors are bullish on Vietnam's industrial property market growth on the back of the nation's strategic location, sound infrastructure, and increasing demand for industrial space, particularly industrial parks that meet green standards, according to market research.

Vietnamese Ambassador to Belgium and head of the Vietnamese Delegation to the EU Nguyen Van Thao addresses the forum (Photo: VNA)

Forum connects Vietnamese, Belgian busineses

The Vietnam-Belgian business forum took place in Brussels on October 23, offering a chance for enterprises of the two countries to introduce their products and explore new cooperation opportunities.

The expos cover over 6,000 sq.m, drawing over 210 exhibitors from 10 countries and territories. (Photo: VNA)

Hanoi hosts textile & garment, fabric garment accessories expos

The Vietnam Hanoi Textile & Garment Industry and Fabric Garment Accessories Expos 2024 (HanoiTex & HanoiFabric 2024) is taking place in Hanoi on October 23 – 25 as part of a series of international exhibitions on Vietnam's textile and garment industry.

Representatives from Vietnamese and Lao agencies, localities and businesses at the opening ceremony of the Vietnam-Laos trade fair 2024 in Xiengkhouang province. (Photo: VNA)

Vietnam, Laos step up trade, tourism promotion

A Vietnam-Laos trade fair was kicked off in Phonsavanh township in Xiengkhouang province of Laos on October 23 as part of activities to celebrate the 75th anniversary of the traditional day of Vietnamese volunteer soldiers and experts in Laos (October 30, 1949 – 2024).

Illustrative photo (Photo: chinhphu.vn)

Vietnamese goods enter US through global supply chain

The Saigon Co.op Distribution Company Limited (SCD) - a member of the Ho Chi Minh City Union of Trade Cooperatives (Saigon Co.op), and STC Natural Vina Company on October 23 held a hand-over ceremony for goods that will be exported to the US.

Vietnam’s lobsters have clawed their way back onto Chinese menus after a suspension. (Photo: VNA)

Vietnam’s lobsters claw back prominence in China

Vietnam’s lobster export to the Chinese market in January-September rose 33 folds year-on-year on the back of lower prices and stronger trade ties between the two nations, the South China Morning Post said on October 22.