ADB promises additional 500 million USD for Metro 2 project
The Asian Development Bank (ADB) plans to provide another loan worth 500 million USD for Metro 2 project in Ho Chi Minh City, said ADB Vice President Stephen Groff.
The Metro 1 project in Ho Chi Minh City (Photo: VNA)
HCM City (VNA) 🐼– The Asian Development Bank (ADB) plans to provide another loan worth 500 million USD for Metro 2 project in Ho Chi Minh City, said ADB Vice President Stephen Groff.
At a working session with Vice Chairman of the municipal People’s Committee Le Van Khoa in the city on November 3, Groff hailed the city’s efforts to accelerate the implementation of ADB-funded projects, particularly in transport, water supply and drainage.
However, he said the two sides should work together more closely to carry out these projects on schedule, especially in the stages of site clearance, resettlement and bidding.
The fruitful relationship between ADB and HCM City is reflected by the number of their joint projects, Stephen Groff said, adding that ADB wants to fund more development projects in the city.
The bank will join hands with the Japan International Cooperation Agency (JICA) in performing a drainage project in the city, Groff added.
For his part, Khoa spoke highly of the bank’s cooperation with the city and relevant agencies in implementing its projects, and pledged to ensure the schedule of urban transport and water supply projects.
𝓀 He suggested that the two sides coordinate to tackle remaining difficulties regarding the loans for site clearance and the Metro 2 project.-VNA
Vietnam’s economy continues to perform well but is being hindered by a number of challenges caused by contractions in the agriculture and mining sectors in the first half of the year.
The Asian Development Bank and Vietnam have signed a loan agreement worth 231.3 million USD that will help the country construct and upgrade its power transmission networks in the southern region.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
The Metro 1 project in Ho Chi Minh City (Photo: VNA)
