OFID gives loan to transport infrastructure project in Da Nang
The OPEC Fund for International Development (OFID) will loan 45 million USD to a transport infrastructure improvement project in the central city of Da Nang.
Minister of Finance Dinh Tien Dung (R) and OFID Director General Abdulhamid Alkhalifa exchange the signed agreement at the ceremony in Hanoi on August 28 (Photo: VNA)
Hanoi (VNA) – The OPEC Fund for InternationalDevelopment (OFID) will loan 45 million USD to a transport infrastructureimprovement project in the central city of Da Nang.
The loan agreement was inked between the OFIDand the Vietnamese Ministry of Finance in Hanoi on August 28.
The project has the total investment of 61.37million USD, including 45 million USD lent by the OFID and the rest covered byDa Nang’s budget.
It is set to build 14.3km of the city’s westernbelt road No. 2, bridges on this route and associated technical facilities likeculverts, lighting systems and trees. The project will also construct a1.2km-long road connecting Co Co Bridge with the Tran Dai Nghia – Vo Chi Congintersection, and a 100m-long bridge spanning the Co Co River and linking VoQui Huan and Vo Chi Cong roads.
The project is expected to be completed by theend of 2022 to help Da Nang develop its transport infrastructure effectively,thereby helping promote local socio-economic development.
Founded in January 1976, the OFID is intended toenhance cooperation between members of the Organisation of the PetroleumExporting Countries (OPEC) and developing nations. It also provides specialsupport to assist socio-economic development in low-income countries.
In Vietnam, the fund has so far supplied loansworth 238.65 million USD for 20 projects and programmes which cover a widerange of fields, including transport, irrigation, poverty reduction, healthcare, education and urban development. Most of them are implemented in ruralprovinces, thus helping with socio-economic development and living standardimprovement in the country.-VNA
The Ministry of Finance and the Asian Development Bank (ADB) on March 5 signed a loan worth over 188 million USD for a transport connectivity project in northern mountainous provinces.
The World Bank Board of Executive Directors on June 20 approved an 80-million-USD loan to help Vietnam improve basic health service quality and access, especially in disadvantaged areas.
The World Bank-funded Program for Results (PforR) of rural water supply and sanitation in eight Red River Delta provinces has so far benefited 1.4 million residents.
Agreements for the Second Greater Mekong Sub-region (GMS) Tourism Infrastructure for Inclusive Growth Project were signed on August 15 between the Asian Development Bank (ADB) and the provincial People’s Committees of Hoa Binh, Nghe An, Quang Binh, Quang Tri and Thua Thien-Hue.
Prime Minister Nguyen Xuan Phuc received Director General of the OPEC Fund for International Development (OFID) Abdulhamid Alkhalifa in Hanoi on August 27, saying that OFID-funded projects have helped to improve Vietnamese people’s lives.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Minister of Finance Dinh Tien Dung (R) and OFID Director General Abdulhamid Alkhalifa exchange the signed agreement at the ceremony in Hanoi on August 28 (Photo: VNA) 
