Nghi Son oil refinery helps boost economic development

2013 marked an important milestone for the central province of Thanh Hoa as the construction work started on its Nghi Son Oil Refinery and Petrochemical Complex (NSRP) – the largest-ever in Southeast Asia and also the largest FDI project in Vietnam - with capital topping 9 billion USD.

2013 marked an importantmilestone for the central province of Thanh Hoa as the construction workstarted on its Nghi Son Oil Refinery and Petrochemical Complex(NSRP) – the largest-ever in Southeast Asia and also the largest FDIproject in Vietnam - with capital topping 9 billion USD.

The complex in the Nghi Son Economic Zone in Tinh Gia district is oneof Vietnam’s key projects on national energy security andsocio-economic development strategies. Its investors include the VietnamNational Oil and Gas Group (PVN), Kuwait Petroleum International, andJapan ’s Idemitsu Kosan Co. Ltd and Mitsui Chemicals Inc.

Once commissioned in 2017 as scheduled, the NSRP is expected to refine200,000 barrels of crude oil a day, equivalent to 10 million tonnes ofoil a year.

It will be the second in Vietnam,alongside the Dung Quat oil refinery plant, satisfying two-thirds ofdomestic demand for national industrialisation and modernisation.

The complex has affirmed theprovince’s determination to make a breakthrough in the industrial andsocio-economic development.

It has also reflectedthe locality’s endeavours to improve the investment environment, whichwas evidenced by the amount of more than 4.7 billion USD in cooperationagreements signed at a forum to promote investment in the Nghi SonEconomic Zone (EZ) and its surrounding areas held in the province inOctober. The forum coincided with the ground-breaking ceremony of thecomplex.

With the NSRP complex, Thanh Hoa provinceis expected to become a more attractive destination for both domesticand foreign investors.-VNA

See more

Imported cars seen at the northern port city of Hai Phong. (Photo: VNA)

Ministry proposes tax cuts for some imported cars

This initiative aims to diversify the supply of imported vehicles, foster competition in the domestic market, and align Vietnam’s tax policies with the evolving trends of the automotive industry.

Minister of Industry and Trade Nguyen Hong Dien and Deputy Prime Minister of the Republic of Belarus Anatoly Sivak sign the meeting minutes. (Photo: VNA)

Vietnam, Belarus unveil key solutions to boost trade

Vietnam and Belarus are set to deepen bilateral cooperation in all fields, particularly in economy-trade and science-technology, through their Intergovernmental Committee mechanism, affirmed Minister of Industry and Trade Nguyen Hong Dien.

Honda Vietnam's new CEO, Sayaka Hattori (Photo: VNA)

Honda Vietnam has new female CEO

Sayaka Hattori, a Japanese national with over 25 years of experience in the automobile and motorcycle industry, was appointed as new CEO of Honda Vietnam on April 1.

Illustrative image (Photo: VNA)

Annual enterprise census kicks start nationwide

The survey will span all the 63 provinces and centrally-run cities in Vietnam, targeting enterprises and cooperatives engaging in production and business activities across almost all sectors.

Participants at the talks between Minister of Construction Tran Hong Minh and Korean Minister of Land, Infrastructure, and Transport Park Sangwoo in Hanoi on March 31. (Photo: VNA)

Vietnam calls on RoK to share expertise in high-speed railway development

Minister of Construction Tran Hong Minh applauded the RoK’s proposal to organise a railway cooperation forum, seeing it as an opportunity for state management agencies, experts, research institutions, universities, and businesses of Vietnam to gain insights from the RoK’s experience in planning, construction, maintenance, and developing high-speed rail industry.

Representatives from Vietnamese and Korean agencies at the MoU signing ceremony. (Photo: VNA)

Vietnam, RoK step up railway development cooperation

Since 1996, the Korean government has provided funding for Vietnam’s transport infrastructure development. To date, the two countries have successfully completed nine projects, with total loans of over 1 billion USD, and are currently working on six other projects with loans worth nearly 600 million USD.

The passengers boarding the first flight from Taiwan to Quang Binh at Dong Hoi Airport (Photo: VNA)

Quang Binh province welcomes first flight from Taiwan

These international flights, the first of their kind, marked a significant milestone for the Dong Hoi airport, particularly following its designation as one of three domestic airports authorised to process foreign passengers' arrivals and departures using electronic visas.

The second branch of the Vietnam-Germany Friendship Hospital – a project deemed causing massive waste (Illustrative Image - Source: VNA)

PM orders urgent reviews, reports of delayed investment projects

The dispatch highlights that ministries, sectors, and localities involved must intensify their efforts to resolve these stalled investment projects in a bid to accelerate socio-economic development and prevent waste of state, business, and public resources.