Aug. 26 – Vietnam is seeking foreign investment partners to upgrade Phu Bai Airport in Thua Thien-Hue Province in central Vietnam by 2020.
Authorities want the airport to be up to international standards with the capacity to cater to five million passengers. Currently, the airport can only serve 500,000 passengers annually. Read the rest of this entry »
Jun. 14 – Vietnam Airlines is planning to expand routes to the west coast of the United States and is also looking into direct flights to the United Kingdom said the carrier’s CEO, Pham Ngoc Minh.
Speaking to the BBC, the executive officer said that he thought the expansion program would be completed by the first half of next year. Currently Vietnam Airlines flies to three European cities in France, Germany and Russia.
Apr. 5 -The Vietnamese government has said that foreign investment in the country’s airlines cannot be restricted.
According the Transport Ministry, existing laws do not allow the government to restrict FDI in the sector, making the Malaysian budget carrier AirAsia’s acquisition of a 30 percent stake in VietJet Air legitimate.
The stake transfer in February was carried out in accordance with the Enterprise, Investment and Civil Aviation Laws, and it will not create a new airline in Vietnam, Vietnam Economic Times cited a Transport Ministry’s note as saying Thursday. Read the rest of this entry »
By Joyce Roque
Mar. 17 – Foreign investors in Vietnam may need to import components of their business not readily available in the local market.
Import duty rates regularly change so it is best to always keep abreast with the latest rates. Authorities however prefer businesses that do not import majority of their manufacturing needs from overseas. Enterprises and business cooperation contract parties doing business in the country are allowed the following import tax exemptions: Read the rest of this entry »
Nov. 12 – Malaysia’s low cost carrier AirAsia has launched a new daily flight between Ho Chi Minh City and the famous Thai beach destination Phuket.
It is AirAsia’s first direct flight shuttling from Ho Chi Minh City and Phuket. This route would include a “mixture of leisure seekers and business travelers,” Thai AirAsia’s chief executive officer Tassapon Bijleveld said in a statement. Read the rest of this entry »
Oct. 29 – Vietnam’s Civil Aviation Administration will reduce landing and take-off fees for all international airlines by 5 percent until March 1, 2010 as a way of helping carriers deal with the global recession.
Vietnam’s international airports charge varying fees on airlines depending on the size of the plane with bigger planes charged more. International airlines firms told Thanh Nien News that while the fee itself were not huge it still supports airlines that fly regularly to the country, including AirAsia, Thai Airways, Malaysia Airlines and Cathay Pacific. Read the rest of this entry »
Oct. 16 – The Ministry of Transport has issued a license to the country’s first air cargo transport services to begin operations next year.
Trai Thien Air Cargo is the first company to solely offer air cargo services in Vietnam reports Thanh Nien News. The company will have a registered capital of VND500 billion and will use a Boeing 737-300F plane for its services. The company plans to expand to other Asian routes and buy four more new aircraft.
Sept. 9 – The direct flight route from China’s Hainan province to Vietnamese capital city of Hanoi will begin on September 27, running twice a week every Thursday and Sunday.
The route will use the 143-seat aircraft of Boeing 737 with tickets priced at US$117 for a one-way ticket cost and around US$220 for return according to Nhan Dan.
Jul. 27 – Vietnam has confirmed that it will invest a total of US$200 million for Cambodia’s airline and banking industry.
The national carrier, Cambodia Angkor Air, will be a joint venture between Vietnam and Cambodia. Vietnam has agreed to provide US$100 million that will be invested within 30 years.
“Vietnamese side has invested US$100 million capital in Cambodia Angkor air,” Sok An, deputy prime minister and minister in charge of the Council of Ministers, was quoted by Xinhua during the agreement’s signing ceremony overseen by Prime Minister Hun Senand visiting Vietnamese Deputy Prime Minister Truong Vinh Trong.
Jun. 25 – According to a Vietnamese foreign investment official, foreign direct investment (FDI) in the country plunged by 77.4 percent to US$8.87 billion for the first 6 months of the year.
Figures compiled by the agency showed that only US$4.7 billion worth of new projects were licensed during the period, a 86.7 percent in value over the same period last year.
Another US$4.1 billion was poured into 68 operational projects, an increase of 13.8 percent. The agency head, Phan Huu Thang told Thanh Nien News added that the FDI result was still positive given the extent of the current economic slowdown.
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