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Retail News Asia is committed to providing both local and global retailers with the latest Living news throughout the Asian market. This on a daily base.

  • Gasoline prices reach 3-month peak

    Gasoline prices reach 3-month peak

    Gasoline prices in Vietnam climbed to a three-month Thursday afternoon.

    The popular fuel RON95 went up 1.99% from a week ago to VND21,000 (US$) per liter.

    Diesel jumped 2.63% to VND18,730.

    Fuel prices in the last seven days were affected by the European Union’s adoption of the 15th package of sanctions against Russia, a member of OPEC+. Prices were also influenced by geopolitical tensions in the Middle East and ongoing conflict between Russia and Ukraine.

    RON95 went up 2.5-2.6% in the period while oils went up 2.6-3.1%. RON95 is now at $86.2 per barrel and diesel $89.6.

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  • IT salaries for managers economy-leading in 2024

    IT salaries for managers economy-leading in 2024

    IT managers in Vietnam earn a median salary of VND52 million (US$2,048), the highest in any sector, while pay for employees with less than a year’s experience has declined.

    Recruitment platform TopCV released its 2024 annual labor market report, highlighting that while demand in the IT industry shows “signs of slowing,” it remains a critical sector and with a talent shortage offering significantly higher salaries than others.

    The report, based on a survey of 3,000 businesses and workers and analyses of 300,000 job postings as of late October, revealed a 1% drop in demand for IT professionals from last year. But experienced and highly skilled candidates remained highly sought after.

    This trend was reflected in salaries. Employees with less than one year of experience earned a median salary of VND11 million, down from VND15 million in 2023, while team leaders and those with four or more years of experience earned VND35 million. For managers and department heads, salaries surged to VND52 million, a nearly 30% increase.

    The salary figures are based on median values, which represent the midpoint in a range and offer a clearer picture than averages when salaries vary significantly.

    The IT and software industry reclaimed the top spot in this year’s salary rankings. In 2023 the insurance industry had led with a median managerial salary of VND50 million, VND10 million higher than in the IT industry. This year managerial salaries in most other sectors were VND26-39 million, significantly lower than in IT.

    But despite the high salaries, TopCV noted, there were challenges in the IT recruitment market primarily due to the limited candidate pool. Around 55% of surveyed businesses reported a shortage of highly skilled professionals, while 49.7% expressed readiness for intense talent competition and willingness to offer attractive benefits to secure top employees.

    On the employee side, “job-hopping” remains prevalent, with 34.1% of IT workers citing lower pay compared to competitors as the main reason for leaving. Another 29.5% pointed to a lack of career advancement opportunities, and 19.5% said their values no longer aligned with those of the company leadership.

    But the report found that “changing jobs no longer guarantees higher income for IT professionals,” with fewer than 10% reporting salary increases of 3-5% after switching roles. Job seekers also faced new challenges like requirements to know a second language, multitask and acquire new skill sets.

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  • Google TV continues to expand its home screen banner ads

    Google TV continues to expand its home screen banner ads

    Google TV is rolling out a new ad format on its home screen, and it’s got some users raising their eyebrows. This isn’t exactly a surprise, as Google has been increasingly incorporating ads into the platform. They’ve even been surveying users about the number of ads shown, which hinted that more might be on the way.

    This new ad format is a banner that shows up underneath the “Continue Watching” row. It can be used to show different types of content, like ads for games. One example of how this new section is being used is an ad for the recently released Bethesda game, Indiana Jones and the Great Circle. This game, available on Xbox and through streaming services, is being heavily promoted across the Google TV platform. It’s featured in the “For You” row, has its own sponsored row with related content recommendations, and now, it’s showing up in this new banner section. The banner ad includes a brief description of the game, a link to watch gameplay on YouTube, and a QR code that users can scan for more details.

    This new banner is in addition to the ads that are already shown in the “For You” slider and in recommendation rows. It seems like Google is trying to find new ways to show ads, even though users already been asked about how many ads they want to see. While this new banner ad format isn’t immediately visible, it does contribute to the overall ad load on the platform. And let’s not forget that Google TV also recently started using those giant QR codes in ads.

    The new ad format is just one of the many changes that Google has been making to its TV platform. Recently, they also started using giant QR codes in ads. I’m not sure how I feel about all these changes. On one hand, I understand that Google needs to make money from its products. But on the other hand, I don’t want to see too many ads when I’m just trying to watch TV. I hope that Google finds a way to balance its need for revenue with its users’ desire for a good experience.

  • Thailand’s average employee salary to grow 5% in 2025

    Thailand’s average employee salary to grow 5% in 2025

    Thai employees’ average salary is expected to rise by 5% in 2025, maintaining the same growth rate as this year, according to a recent survey.

    Key factors that affect salary hikes are performances of individuals and organizations, salary range and the organization’s competitiveness in the job market, the Total Remuneration Survey 2024 by professional services company Mercer shows.

    Some 91% of the organizations polled reported having short-term incentive plans such as bonuses, said the survey, which was cited by The Bangkok Post.

    The ratio of businesses offering long-term incentives (such as stock options) grew by 1.8 percentage points to 80.7% this year.

    The auto industry is expected to award its employees with the highest short-term incentives which accounts for 23% of total remuneration packages.

    The highest paying sector is the life sciences industry which compensates 20% more than the average for annual base salaries.

    “The average salary increase of 5% in 2025 reflects an ongoing commitment by Thai organisations to invest in their workforces,” said Thira Laulathaphol, career principal at Mercer’s Thailand, as reported by The Nation.

    “With 100% of surveyed companies planning salary increases, it is clear that Thailand has a competitive job market.”

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  • 45% of Singapore workers fear admitting to AI use

    45% of Singapore workers fear admitting to AI use

    Nearly half of employees in Singapore feel uncomfortable admitting to their managers that they use artificial intelligence (AI) in their jobs, a survey has found.

    The top concerns among these workers include the fear of being perceived as incompetent, lazy, or cheating, The Independent Singapore reported, citing AI-powered work management tool Slack’s Workforce Index report, which in August surveyed more than 17,000 workers across 15 countries, 1,008 of which are from Singapore.

    The report noted that workers, lacking clear guidance, are uncertain about when it is appropriate to use AI at work, leading many to hide their usage.

    Hence, employers should establish clear guidelines on which AI tools are considered “approved and trusted” for use in their organizations, as well as the specific tasks these tools are intended for, Christina Janzer, senior vice president of research and analytics at Slack.

    Too much of the burden today has been put on workers to figure out AI. It is important that leaders not only train workers to use AI, but encourage employees to talk about it and experiment with AI out in the open,” she said.

    Despite their concerns, 88% of employees in Singapore are keen to develop their AI skills and feel a pressing need to become experts in the field. However, 63% of them have spent fewer than five hours total learning how to use AI.

    Workers in the city-state are also prioritizing AI-enabled workplaces, with 87% viewing a company’s ability to provide and implement AI tools as a key consideration when searching for jobs.

    As a result, employers there must invest in AI training to attract and retain top talent.

    Globally, 30% of workers worldwide have not received any AI training, including self-guided learning or experimentation, according to Slack.

    Among those who did receive guidance on AI usage, adoption has increased by 13% since January, compared to just 2% for those without such training.

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  • Diesel hits 6-week low, gasoline steadies

    Diesel hits 6-week low, gasoline steadies

    Vietnam’s gasoline prices inched up while diesel dropped to a six-week low Thursday afternoon.

    The popular fuel RON95 gained 0.15% to VND20,590 (US$0.81) per liter.

    Diesel dropped 0.71% to VND18,250.

    Regulators said that fuel prices in the last seven days were affected by rising geopolitical tension in the Middle East, ongoing conflict between Russia and Ukraine, and OPEC+’s reduced oil demand growth forecast for 2025.

    Gasolines went up 0.2% while oils fell 0.8-4.3% in the period. RON95 is now at $84.1 per barrel and diesel at $86.9.

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  • Vietnam IT graduates face unreasonable job experience requirements

    Vietnam IT graduates face unreasonable job experience requirements

    Many companies demand prior experience from their recruits but fail to provide opportunities for newcomers to gain it—creating a vicious cycle that exacerbates recruitment challenges.

    Vietnam produces a significant number of IT graduates annually, along with professionals from other fields transitioning into IT through short-term courses or training centers. Despite this, tech companies often face manpower shortages because they prioritize hiring experienced professionals and dismiss fresh graduates who fail to meet stringent requirements.

    Highlighting this paradox, a reader named Hanuan commented: “Every company demands employees with experience, expertise, and compatibility with their work culture, yet they offer very low salaries. Where does that leave fresh graduates? For someone to gain experience, companies must provide opportunities. Without offering jobs, how do they expect these graduates to acquire the required experience?

    “This approach complicates recruitment as the high standards are nearly impossible to meet. Meanwhile, the experienced professionals they prefer often pursue their own career paths, leaving businesses passively reliant on a limited talent pool.”

    Another reader, Hai Nam Trinh, described the situation as increasingly unreasonable: “How do employers define ‘skilled workers’? Do they expect candidates to master all programming languages, networks, and systems? How many people in Vietnam actually fit that description? Such expectations are unrealistic for fresh graduates. If someone does meet these demands, companies then brand them as overconfident for asking for higher salaries.

    “This year, with fewer job openings and employers holding all the cards, workers have little choice but to accept unfair conditions.”

    Similarly, reader Thainv said: “The truth is that companies today set the bar too high. My company only hires senior or mid-level staff. Applicants must demonstrate strong English proficiency, evidenced by a TOEIC score of at least 700 or being able to hold basic English conversations. They also need solid technical expertise, a strong foundation, and advanced skills. For senior roles, candidates must additionally be equipped with management and operational skills, akin to a project manager. Realistically, how many people with 3-4 years of experience meet all these criteria?”

    Reader Minhtrungpham echoed these concerns: “Companies now mainly seek technical staff with at least one year of experience. How can fresh graduates meet this requirement? IT is a field that relies heavily on self-learning and mentorship from senior colleagues when challenges arise. Businesses could assign senior staff to guide newcomers. Implementing such a system could partially alleviate the shortage of IT professionals while also creating more job opportunities. However, if companies insist on requiring specific years of experience, this issue will persist indefinitely.”

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  • Samsung, Vinpearl, Vinamilk among most popular recruiters in Vietnam

    Vinamilk, Vinpearl, Samsung Electronics HCMC and McDonald’s are among the most popular recruiters in Vietnam this year, according to recruitment platform CareerViet.

    The top five recruiters in the large business category are Vinamilk, Vinpearl, Samsung Electronics HCMC CE Complex, Masan Consumer and FPT IS, while the top five in the medium business category are McDonald’s, Guardian, Prep Technology, Nabati and Petrovietnam Securities Incorporated (PSI), according to a CareerViet survey on over 5,720 businesses from July 7 to October 31.

    Vinpearl is the leading recruiter in food and beverage, accommodations and tourism, while the Hoa Sen group is the leading recruiter in construction, architecture and interior design. PNJ is the leading recruiter in retail, while Bim Group is the leading recruiter in real estate.

    Popular recruiters are liked not only due to their attractive benefits, diverse working environments and incentives for personal development, but also thanks to their own brands, CareerViet said.

    The survey also revealed that while Gen X workers prioritize stability and long-term benefits, Gen Y values development and work-life balance while Gen Z focuses more on flexibility, salaries and personal development.

    83% of Gen Z workers surveyed said the main factors for them choosing their jobs are salaries and benefits, followed by working styles. They prefer workplaces that ensure holiday bonuses, have shorter working hours or offer hybrid working methods.

    “They love a job with high incomes and ensures flexibility. 90% of Gen Z workers want to be trained in new skills, including communication, problem-solving, foreign languages, management and leadership,” said Tran Lien Phuong, director of research and strategic consulting at Amco Vietnam.

    Workers’ perspectives from different generations will by a key factor for businesses to improve their HR policies, CareerViet said, adding that a workplace with different worker generations will help make it more competitive.

    “A business’s success is not only shown through its business performance, but also policies to attract, keep and develop talents,” CareerViet said.

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  • Netflix is big in Japan

    Netflix is big in Japan

    Netflix reached a milestone of over 10 million subscribers in Japan during the first half of this year. That’s a success! Netflix is gaining attention in the Land of the Rising Sun with…. Japanese-language programming.

    You see, Japanese series are drawing significant attention in the expanding market. Over the past four years, the company’s subscriber base has doubled, and the streaming giant has recently released several popular Japanese-language shows that distinguish it from local broadcasters.

    Kaata Sakamoto, vice president of content for Japan, expressed satisfaction with the success of shows like “Tokyo Swindlers”, “The Queen of Villains”, and the reality-romance series “The Boyfriend”, which have garnered considerable viewership. Since Netflix began reporting viewing rankings in 2021, only two English-language series, the live-action adaptation of hit “One Piece” and the fourth season of “Stranger Things”, have topped these rankings in Japan.

    Sakamoto also noted that Japan has a strong demand for local content, which is why Netflix continues to prioritize producing such programming. In September, Netflix announced a five-year contract with Hitoshi One, the director of “Tokyo Swindlers”, a drama about a group of real estate scammers.

    The growth of streaming has led to increased consumption of Japanese content, with major entertainment companies turning their attention to their hits. For example, Amazon has adapted Sega Sammy’s “Yakuza” game series, and reports indicate that Sony is in talks to acquire media company Kadokawa to strengthen its entertainment portfolio.

    Netflix has stated that Japanese content is its third-most-viewed non-English content, following Korean and Spanish programming. Additionally, its anime offerings were watched more than 1 billion times worldwide last year.

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  • Netflix subscribers are warned that they are the target of a dangerous SMS phishing campaign

    Netflix subscribers are warned that they are the target of a dangerous SMS phishing campaign

    It’s absolutely nuts to think that more than 13 years and five months ago we were telling you about the Netflix app becoming available for the Motorola DROID and DROID X from the Android Market. We’ve gone from Android 2 to Android 15, the Android Market is now the Google Play Store, Netflix now offers a wide range of original content, and Motorola is trying to recapture the magic that made it and HTC early leaders among Android phone manufacturers.

    One thing that we didn’t worry about too much back in 2011 that we worry about now is the possibility of getting scammed by phishing attacks. These are emails or texts that are made to look as though they were sent from a company you do business with asking you to reveal personal information. Cybersecurity researchers are reporting that hackers are running an SMS phishing campaign against Netflix subscribers that seeks to access their Netflix accounts and steal information about the credit cards used to pay for the service.

    “We will never ask you to enter your personal information in a text or email. We will never request payment through a 3rd party vendor or website”-Netflix statement

    These bogus texts make it appear as though a subscriber’s account was placed on hold and ask the subscriber to update his/her information by clicking on a link. Here’s the scary part. This link will take the victim to a website that looks remarkably like the real Netflix site with a prompt asking for login and credit card information. If the information they request is provided to them, the scammers will take over control of the victim’s Netflix account and will have the ability to use his/her credit card and wipe out the remaining credit available.

    Security experts are warning Netflix subscribers to be on the lookout for any texts or emails stating that their Netflix account is on hold or will soon be suspended. Other texts accuse the subscriber of not paying for the service and urgently demand payment by threatening to cancel the account. Do not press on any links that are included in the text or email. You might be able to tell that the text and website are fakes since they are usually loaded with grammatical and spelling errors.

    The phishing campaign was discovered by cyber security firm Bitdefender. The security firm says that it spotted this campaign running in 23 countries, including the United States, since September. If you do receive this text, ignore it and delete it.

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  • Sri Lanka’s Growing Remote Work Ecosystem

    Sri Lanka’s Growing Remote Work Ecosystem

    The telecom sector is playing an essential role in this transition by providing the necessary infrastructure and services for remote workers to thrive. With advancements in high-speed broadband, affordable mobile data plans, and co-working spaces, the country is building a robust ecosystem for remote professionals.

    Historically, the shift began with the expansion of broadband access and investments in IT services, particularly after the country’s digital transformation strategy launched in 2017. Today, Sri Lanka boasts 61.48% internet penetration, with initiatives like “Digital Sri Lanka” enhancing connectivity even in rural regions.

    Interestingly, data from Sri Lankan job portal, XpressJobs, showed a 45% increase in remote job postings in 2023, particularly in sectors like IT, customer service, and digital marketing.

    The rise of remote work in Sri Lanka is being driven by factors such as affordability, scenic locales, and an influx of digital nomads seeking a balance between work and leisure. That being said, Sri Lanka’s proposed digital nomad visa, gingerly approved in 2021, is yet to be launched. In the meantime, digital nomads can apply for a 30-day Electronic Travel Authorization (ETA), which can be extended for 30-90, 90-180, or 180-270 days.

    Bolstering the essential connectivity needed for remote work is Sri Lanka’s telecom industry, which is, similarly, evolving rapidly, through investments in 4G LTE, fiber optics, and early explorations into 5G. Telecom operators like Sri Lanka Telecom (SLT-MOBITEL) and Dialog Axiata have introduced Fiber-to-the-Home (FTTH) services, affordable mobile data plans, and public Wi-Fi zones, ensuring widespread connectivity essential for remote work success.

    Sri Lankan telecom companies have made significant strides in enhancing remote work infrastructure through strategic partnerships and innovations. Dialog Axiata PLC, Axiata Group Berhad, and Bharti Airtel Limited recently agreed to merge their Sri Lankan operations, a move expected to strengthen the country’s telecommunications sector. This merger aims to boost network capacity, ensuring more reliable and faster connectivity for remote workers across the nation.

    Dialog Axiata has been at the forefront of innovation, launching Sri Lanka’s first eSIM service, enhancing flexibility for mobile users. Additionally, Dialog Enterprise collaborated with Microsoft and H One to introduce Operator Connect—a pioneering service that integrates directly with Microsoft Teams. This launch marks a significant step forward in providing seamless communication tools essential for remote work environments.

    Similarly, SLT-MOBITEL has embraced digital transformation to cater to the growing demands of remote work by deploying Microsoft 365 productivity and security solutions. By integrating tools like Microsoft Teams, Microsoft 365 F3, E3, and E5, SLT-MOBITEL has created a seamless and secure environment for its employees to collaborate remotely. This shift has empowered frontline workers and executives alike, allowing real-time access to essential applications and secure data protection from anywhere.

    Furthermore, SLT-MOBITEL is leading the way in 5G development, laying the groundwork for next-generation remote connectivity. Moreover, partnerships with companies like Nokia have accelerated nationwide fiber network expansion, ensuring broader access to high-speed internet. Another key development includes the groundbreaking Maldives-Sri Lanka Cable project, completed in 2020, which enhanced regional telecom infrastructure, improving international connectivity through a Wavelength Division Multiplexing (WDM) subsystem and an 863-kilometer fiber optic cable.

    Further strengthening its position, Dialog Axiata partnered with Rakuten Viber in 2021, becoming Sri Lanka’s largest A2P (Application-to-Person) messaging provider. These advancements collectively demonstrate Sri Lanka’s commitment to fostering a robust telecom ecosystem, essential for supporting the growing remote work sector. The partnership enabled more than 300 Rakuten Viber carrier partners to comfortably communicate with more than 16 million Dialog Axiata customers using the Rakuten Viber A2P bilateral service, further enhancing remote working capabilities.

    Dialog Axiata has significantly advanced rural connectivity in Sri Lanka, presenting new opportunities for remote work by deploying its 4000th LTE network tower in the Thihawa village (located within the Kurunegala District). Since March 2020, the company has invested LKR 50.9 billion (USD 255.8 million) to address rising connectivity demands, particularly during the pandemic, when mobile data traffic doubled, and fixed broadband usage tripled.

    Dialog Axiata upgraded over 2,800 4G towers and added spectrum capacity to meet these demands. By year-end, it plans to increase capacity across 75% of its sites and deploy 450 new towers in rural areas to achieve 4G coverage for 95% of Sri Lanka’s population, supporting the government’s Gamata Sanniwedanaya initiative to enhance connectivity in remote regions.

    Sri Lanka’s unique value proposition as a remote work destination is further enhanced by its diverse landscapes and affordable living costs. Sri Lanka aptly captures this phenomenon, showcasing how reliable telecom services have enabled professionals to transition from boardrooms to beaches, balancing productivity and leisure.

    Co-working spaces in cities like Colombo and Kandy now offer high-speed internet, video conferencing tools, and cloud storage, ensuring seamless collaboration for global teams. However, challenges like inconsistent connectivity in rural areas and the high cost of importing telecom equipment need to be addressed to fully harness the potential of remote work.

    In addition to infrastructure, digital literacy is key to Sri Lanka’s success in the remote work economy. As emphasized, developing skills in fields like web development, digital marketing, and graphic design is crucial for locals to tap into remote job opportunities. Telecom companies can play a pivotal role by partnering with educational institutions, creating awareness campaigns, and facilitating access to e-learning platforms. These initiatives can not only empower Sri Lankans with global opportunities but also position the country as a competitive player in the remote work market.

    Despite the progress, challenges remain, particularly in ensuring consistent connectivity across rural areas. These challenges present opportunities for targeted investments in broadband expansion and innovations such as 5G. Government collaboration with telecom operators, coupled with policies incentivizing innovation and tax breaks, can accelerate technological advancements.

    The economic benefits of remote work for Sri Lanka are immense. A strong telecom infrastructure can increase foreign exchange earnings by attracting digital nomads, create new jobs in sectors like IT and hospitality, and alleviate urban congestion by enabling professionals to work from less crowded areas. Moreover, remote work can provide resilience in times of economic uncertainty, offering diverse income opportunities for Sri Lankans. With continued investment in digital and physical infrastructure, Sri Lanka is well-positioned to emerge as a global hub for remote work.

    Looking ahead, the telecom sector will remain central to Sri Lanka’s remote work ambitions. Innovations in connectivity, such as the rollout of 5G, will enhance remote work experiences, while government policies supporting digital entrepreneurship will drive long-term growth. It was highlighted that Sri Lanka already has the elements needed to thrive in the remote work landscape, provided it continues to invest in its digital capabilities. By addressing existing challenges and leveraging its strengths, Sri Lanka can unlock new pathways to economic prosperity.

    Sri Lanka’s telecom sector is at the forefront of this transformation, enabling a new generation of workers to embrace flexibility and connectivity. From fiber-optic networks to mobile data plans, the industry is laying the foundation for a thriving remote work ecosystem. With strategic investments and skill-building initiatives, Sri Lanka can position itself as a global leader in

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  • Spotify launches new platform to support publishers and authors

    Spotify launches new platform to support publishers and authors

    Spotify for Authors is a new platform for authors and publishers that allows them to manage their presence and grow on the streaming service. The new platform offers access to multiple tools that make it easier for authors and publishers to understand their audience and drive more consumption.

    Authors invited by publishers on Spotify for Authors will be offered direct access to important insights, along with growth and promotional tools that will help them tap into larger audiences, including:

    • Aggregated age and gender demographics that provide more insight than ever before, to let them know who is listening to their content on Spotify.
    • Redemption codes to share royalty-free copies of titles with reviewers, superfans, and collaborators (if enabled by their publishers).
    • Promo cards to generate professional and shareable social assets for their titles in just one click.
    • Early access to author profiles, a new feature rolling out to Spotify so fans can easily discover more about the authors behind their favorite books.
    Starting today, publishers and select authors can begin using these insights into listener demographics, take advantage of tools for marketing and promote their titles, as well as customize their author page on Spotify using the features above.

    According to Spotify, the company worked closely with authors and publishers to develop Spotify for Authors, allowing the streaming service to design each feature based on their feedback and needs.

    “Today’s launch is just the first step as we help authors and publishers reach new audiences, connect more deeply with their fans, and drive listening,” explains Spotify in a blog post.

    Spotify for Authors is now available in all markets where the streaming service is officially accessible. Publishers can access Spotify for Authors with their Spotify logins and can invite authors to join at authors.spotify.com.

    It’s also important to mention that Spotify confirmed it will expand access to authors using Findaway Voices early next year.

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  • Thailand to build new bridge to Cambodia

    Thailand to build new bridge to Cambodia

    The Thai government is constructing a new bridge to link Chanthaburi province in eastern Thailand with Pailin province in Cambodia, with an estimated cost of 15 million baht (US$431,400).

    During his visit to the Ban Pakkad border checkpoint in Pong Nam Rong district on Nov. 21, Deputy Prime Minister and Interior Minister Anutin Charnvirakul highlighted the bridge’s potential to boost cross-border trade and tourism between the two nations.

    Named the New Chanthaburi-Pailin Friendship Bridge, this concrete structure will replace the temporary steel bridge currently connecting the two provinces. The new bridge will span approximately 40 meters and include 3-meter-wide pedestrian walkways on each side of the vehicular lanes.

    With its improved design and infrastructure, the bridge is expected to significantly enhance logistics and trade efficiency between Thailand and Cambodia, fostering stronger economic ties.

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  • Vietnam high-speed railroad to cost $500M annually to operate

    Vietnam high-speed railroad to cost $500M annually to operate

    Vietnam’s north-south high-speed rail is expected to cost US$500 million a year to operate in the initial time, with the government footing a substantial part of the bill.

    According to the Ministry of Transport, in the first four years revenues are expected to cover only operational and rolling stock maintenance costs, and the government will need to provide funds for infrastructure maintenance.

    The 1,541 km line, running between Hanoi and Ho Chi Minh City, is estimated to cost $67.3 billion, with construction expected to last from 2027 to 2035.

    In 2037 the annual operating costs are estimated at $477 million, with the government providing $238 million.

    They are projected to rise to $524 million and $213 million, $571 million and $187 million and $618 million and $140 million in the next three years. Vietnam’s GDP last year was $430 billion, according to the General Statistics Office.

    The project is expected to take 33.61 years to break even if infrastructure costs are not considered, the ministry said in a new report addressing feedback from National Assembly deputies regarding the railway project.

    During the feasibility study phase, detailed calculations of financial indicators would be done based on investment plans, operational strategies and the conditions obtaining at the time the railroad begins operation, it said.

    The ministry was confident of the project’s economic viability, citing quantifiable benefits such as reduced travel time, lower logistics costs, fewer accidents, and reduced CO2 emissions.

    The economic internal rate of return is estimated at 12%, the benefit-cost ratio at 1.06 and net present value at $9.15 billion.

    The ministry said while economic and indirect benefits had been carefully considered, they could not be included in the financial calculations.

    In addition to measurable benefits, the railroad is also expected to enhance Vietnam’s competitiveness, restructure its transportation and create new economic opportunities through effective land use.

    The construction is projected to boost the country’s GDP by an average of 0.97 percentage points annually.

    Addressing legislators’ concerns about prioritizing the high-speed railway over other infrastructure projects, the ministry explained that the funding would be spread over 12 years, averaging $5.6 billion annually, or 16.2% of the medium-term public investment plan for 2026-30, and only account for 1% of GDP in 2027, when construction is expected to begin.

    Besides, investment for 3,000 km of expressways has been arranged, and another 1,700 km are being built, meaning reaching 5,000 km of expressways by 2030 should not be difficult, it said.

    Allaying concerns about increasing public debts and potential cost overruns, it said public debt indicators are projected to remain within acceptable limits through 2030.

    While external debt obligations and budget deficits may see slight increases, these are manageable and considered reasonable compared to scenarios without the high-speed rail.

    The railroad is designed to integrate with regional and international networks, linking up with China through routes from Hanoi via Lao Cai and Lang Son, with Laos through the Vung Ang–Vientiane route and with Cambodia through Trang Bom.

    By 2050, even with significant investments in aviation and road transport, the north-south corridor is projected to have unmet passenger demand of 122.7 million trips annually.

    The high-speed railroad is expected to address this, the ministry said.

    It will have a double track with a 1,435 mm gauge, electrified for a designed speed of 350 kph and a load capacity of 22.5 tons per axle.

    The existing north-south railroad will continue to handle freight and short-distance passenger transport.

  • Gasoline, diesel prices drop

    Gasoline, diesel prices drop

    Vietnam gasoline and diesel price both declined Thursday afternoon.

    The popular fuel RON95 fell 0.39% to VND20,520 (US$0.81) per liter Thursday morning.

    Biofuel E5 RON92 went down by 0.57% to VND19,340 per liter.

    Diesel dropped 0.38% to VND18,500.

    Regulators said that fuel prices in the last seven days were affected by China’s economic stimulus plans failing to meet investors’ expectations, and ongoing tensions in the Middle East and between Russia and Ukraine.

    Gasolines fell by 0.6-0.9% in the period and oils went down 0.5%. RON92 is now at $83.6 per barrel and diesel $88.2.

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