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Tag: hanoi

  • Hanoi’s first metro line gets $38M capital hike

    Hanoi’s first metro line gets $38M capital hike

    The Cat Linh – Ha Dong Metro Line in Hanoi has received an additional VND911 billion ($38.6 million) capital increase.

    The money will come from state coffers, with 24.4% of it from domestic funds and the rest foreign funds, according to a decision signed by Deputy Prime Minister Le Minh Khai.

    The Ministry of Planning and Investment and the Ministry of Finance are responsible for reporting the disbursement of this capital to the Prime Minister’s Office.

    The 13-kilometer Cat Linh – Ha Dong Metro Line earlier saw its cost increase from VND8.77 trillion in 2008 to VND18 trillion in 2017.

    It is one of five metro lines nationwide that has seen cost increases.

    The Cat Linh – Ha Dong Metro Line started operating commercially at the end of last year and so far it has served 7.3 million passengers, among them 10,000 monthly subscribers.

    The line has recorded a revenue of around $53 billion so far with a monthly growth of 20%.

  • Hanoi considers year-long trial of public bike service

    Hanoi considers year-long trial of public bike service

    The Hanoi Department of Transportation has proposed to the municipal People’s Committee that a public bike service be launched in the capital city for a 12-month trial period.

    Under the proposal, private firm Tri Nam will provide 1,000 bikes, 50% of them electric, at 94 locations in the city.

    The pilot project is set to cost over VND30.3 billion ($1.22 million).

    The company will charge VND10,000 for a 30-minute trip on electric bikes and VND5,000 for the same duration on normal bicycles.

    Full-day rent for the electric bike will be VND120,000 and half that for pedal bicycles. Monthly tickets will also be available for commuters, who will make payments with e-wallets.

    Six downtown districts will be prioritized for the pilot project, including Ba Dinh, Dong Da, Tay Ho and Hai Ba Trung.

    The project is part of the department’s initiatives to diversify public means of transport and to reduce emissions.

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  • First made-in-Vietnam flying car to hit market in 2024

    First made-in-Vietnam flying car to hit market in 2024

    Hanoi company Airlios has demonstrated a flying electric car which it plans to sell commercially in 2024.

    The single seater, also called Airlios, could fly vertically to reach 10 meters within 10 seconds and then fly at speeds of 100 kilometers per hour, the company said at a recent exhibition.

    It can rise to as high as 120 meters, the same height as a 44-story building. It has eight batteries that are fully charged in seven to nine minutes at 30-kilowatt charging stations.

    It is mostly made of aluminum alloy and carbon fiber, and can fly both automatically and manually.

    A prototype has successfully flown 33 kilometers in 20 minutes at a height of below 120 meters. It has been tested for 100 hours and 1,000 kilometers.

    “The project is now 70-80% complete,” Mai Thien Vu, the company’s chief technology officer, told VnExpress.

    “We plan to launch the maiden flight of the commercial version of Airlios by the end of 2023.”

    Managers and engineers at Airlios began thinking about making flying cars five years ago, he added.

    If it is launched as scheduled, Airlios could become the first flying car in Southeast Asia.

    The standard version will cost around $81,000 compared to, for instance, $92,000 for Swedish brand Jetson.

    Airlios will also offer other models costing up to $99,000.

    Many startups in a number of countries have started working on flying cars though there have been few commercial launches yet.

    Singapore, Malaysia and Indonesia plan to launch flying taxi services in future.

  • Hanoi police seize 100 rice wine jars containing wild animals

    Hanoi police seize 100 rice wine jars containing wild animals

    More than 100 jars of rice wine distilled with pythons, large lizards, cobras and deer have been found at two condo apartments in Hanoi.

    The wine had been put up for sale at the two apartments in La Khe Ward of Hanoi’s Ha Dong District.

    The owners of the wine could not provide legal papers proving the origins of the product.

    One of them, Vu Quang Hien, said “these are just craft products and this whole thing shouldn’t be treated too seriously.”

    Hien sells the wine for VND350,000 ($15) to more than VND3 million per jar.

    The other owner, Dao Quang Manh, said the distributors told him the animals had been bred by them and that the products aim at treating several health issues, including joint and muscle pains.

    “Distributors also told me that the products are legal, and I just buy them for retail. I do not know for sure if I have permission to sell them.”

    Lieutenant Colonel Nguyen Thanh Trung from Hanoi’s environment police division said it would have to work with the city’s Market Management Department and ranger authorities on this case as there are many wild animals that have been killed for rice wine production.

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  • Northern power output rises to new peak

    Northern power output rises to new peak

    Power output in the northern region topped 22,800 megawatts at noon on Monday, 9 percent higher than last year’s peak, amid an ongoing heatwave.

    Hanoi and 14 provinces in the northern and central regions have been recording temperatures of up to 38 degrees Celsius (100 degrees Fahrenheit), and the heatwave is likely to continue for another day or two, according to the National Center for Hydro – Meteorological Forecasting.

    Some thermal power plants that have a combined output of 1,555 MW are reporting technical issues with turbines, according to national utility Vietnam Electricity (EVN).

    Hanoi and some other localities recorded a power outage for around two hours on July 4 due to high demand.

    EVN estimated earlier that the northern region would face a shortage of 1,500-2,400 MW during peak hours or extreme weather conditions this year.

    The state utility has called on people to reduce power usage from 11 a.m. to 2.30 p.m. and form 8 p.m. to 10 p.m.

    It also encouraged people to set their air-conditioner temperature at 27 degrees Celsius or higher and use it in combination with a fan.

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  • Grab adds heatwave surcharge on motorbike services

    Grab adds heatwave surcharge on motorbike services

    Grab has become the first ride-hailing firm in Vietnam to announce a new surcharge on its motorbike services starting Thursday.

    The surcharges are VND5,000 (20 U.S. cents) for each GrabBike trip and GrabFood order in some localities including HCMC, Hanoi, Hai Phong, Da Nang and Can Tho.

    GrabExpress services in HCMC and Hanoi will attract a surcharge of VND3,000 for each delivery.

    The surcharge will be applied “during extremely hot weather”, Grab said on its website without disclosing further details.

    The Singapore-based ride hailing firm is the first to roll out surcharges for hot weather conditions. Earlier, a surcharge of VND10,000-15,000 has been applied for late nights and the Lunar New Year holiday.

    In early March this year, Grab had raised all fares by VND500-2,500 to aid drivers coping with surging gasoline prices.

  • Aeon Mall wants four more Hanoi projects

    Aeon Mall wants four more Hanoi projects

    Japanese retail giant Aeon Mall wants to invest in 3-4 more projects in Hanoi by 2025. At a recent meeting with Hanoi Party secretary Dinh Tien Dung, Nagakawa Tetsuyuki, general director of Aeon Mall Vietnam, said the Aeon Mall Hoang Mai project is now in its last preparation stages for investment. It has enough funds, personnel and equipment to begin construction right after investment procedures are completed, he said.

    Aeon Mall is currently operating six projects in Vietnam, including two malls in Hanoi’s Long Bien and Ha Dong districts. It plans to launch 16 more projects in Vietnam by 2025.

    Tetsuyuki said he hopes Hanoi will continue its support so the Aeon Mall Hoang Mai project can begin construction in the third quarter. The firm has also requested the city to support the establishment of another Aeon Mall project in Bac Tu Liem District.

    Hanoi Party Secretary Dinh Tien Dung said the capital would improve its investment environment and streamline policies to attract investments from both inside and outside Vietnam. He said Hanoi was attentive to supporting the Aeon Mall Hoang Mai project and would request relevant agencies to cooperate with Bac Tu Liem authorities.

    Hanoi deputy chairman of Nguyen Manh Quyen said he would request relevant authorities to complete legal procedures regarding the Aeon Mall Hoang Mai project so construction can begin as planned. Regarding the Bac Tu Liem project, Quyen said the proposed location has been earmarked for a park, so the city will request authorities to propose another location for it.

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  • Hanoi housing prices keep rising on low supply

    Hanoi housing prices keep rising on low supply

    Housing prices in Hanoi rose the most in five years, driven up by limited supply and the specter of inflation. According to leading properconsultancy CBRE, the average price of a new apartment increased by 13 percent to US$1,655 per square meter. In the secondary market, it was up 9 percent at $1,278.

    In Vietnam, housing has historically been a safe haven investment during times of high inflation.

    In the quarter ending in March, the new housing supply was 3,500 units, down 39 percent quarter-on-quarter and 20 percent from the same period last year.<

    The decline was caused by a new wave of Covid-19.

    Most of the new supply came from ongoing phases at six projects. Only two came into the market for the first time.

    Mid-priced apartments accounted for 66 percent of the new supply. Demand was higher than new supply, with 4,200 units being sold during the quarter.

    CBRE forecast a supply of 26,000-28,000 units this year, but said the affordable segment would continue to face a scarcity.

    While over 90 percent of the new supply would be sold thanks to the bullish market sentiments, the trajectory could change at the end of this year, depending on the economic situation.

    Prices are expected to keep rising in the first half of 2022 but speculative trading would come down due to a crackdown by authorities, it added.

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  • Gojek drives car service into Hanoi

    Gojek drives car service into Hanoi

    Ride-haling platform Gojek has launched its GoCar Protect service in Hanoi a month after introducing it in HCMC.

    The Indonesia-headquartered company guarantees that all its drivers have got two doses of Covid-19 vaccines and all cars are equipped with an air purifier and a transparent protective shield to separate drivers and passengers.

    Drivers must take a selfie to prove they have a mask on at the start of the day.

    Gojek Vietnam general manager Duc Phung called the launch in HCMC a success after seeing a “multifold increase” in the number of bookings.

    “The risk of infection continues to be our users’ top concern when considering mobility options,” and that this is why the company continues to adopt stringent safety practices, he said.

    The launch adds a third car ride-hailing option in Hanoi after GrabCar and beCar.

    Gojek, which entered Vietnam in 2018, introduced its car services much later than its competitors, who have been at it for years.

    Ride-hailing and food delivery revenues rose by 35 percent in 2021 to $2.4 billion, according to a report by Google, Temasek and Bain & Company.

  • Samsung has invested nearly $18 bln in Vietnam

    Samsung has invested nearly $18 bln in Vietnam

    Samsung has invested $17.74 billion in Vietnam in the last 24 years, 29 percent of it in the last five.

    With eight manufacturing and research facilities in the country, the South Korean electronics giant achieved revenues of nearly $60.5 billion in the first 10 months of this year, Samsung Vietnam CEO Choi Joo Ho told Deputy Prime Minister Le Minh Khai at a meeting in Hanoi Monday.

    It marked a 15 percent year-on-year rise despite the challenges to keeping factories going and sourcing parts amid Covid-19, he said.

    Exports accounted for nearly 89 percent of the revenues, he added.

    The company is building a $220-million research and development center in Hanoi, the first of its kind outside of its home country.

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  • Hanoi plans motorbike ban after 2025

    Hanoi plans motorbike ban after 2025

    Hanoi plans to ban motorbikes in core districts after 2025, five years earlier than an earlier plan, in order to reduce traffic congestion and emissions.

    The ban will apply to all districts within the third ring road and on three major roads: Truong Sa, Hoang Sa and National Highway 5, according to a plan being prepared by the city administration.

    After 2030 the ban will expand to all districts within the fourth ring road.

    The plan is set to be voted upon on Tuesday.

    The capital has around 5.6 million motorbikes and 600,000 automobiles.

    Poor public transportation development has driven the use of personal vehicles in Vietnam as a whole and in its major cities, in particular.

    Currently, in Hanoi, the public bus system plies 140 routes, meeting an estimated 31 percent of total demand.

  • Private hospitals suffer pandemic inflicted losses

    Private hospitals suffer pandemic inflicted losses

    Private hospitals in HCMC and Hanoi are reporting losses after months of limited operations necessitated by the Covid-19 pandemic.

    After four years of making a profit, the Tam Duc Heart Hospital in HCMC’s District 7 posted a loss of VND13 billion ($571,440) in the third quarter this year.

    Its revenue plunged 63 percent to nearly VND54 billion.

    The hospital has cut down salaries but high overhead costs and additional Covid-19 measures remained major financial burdens.

    Its nine-month profit has fallen 86 percent year-on-year, the hospital said.

    In Binh Tan District, Trieu An Hospital posted its second quarterly loss in a row at VND22 billion, against VND14 billion in the second quarter.

    The hospital saw third-quarter revenues plunge 70 percent year-on-year.

    In Hanoi, the Transportation Hospital in Dong Da District saw a loss of VND11 billion in the third quarter, with revenue dropping 36 percent year-on-year to over VND24 billion.

    Its accumulated loss stands at nearly VND188 billion, the hospital said.

    Nationally, the number of health checks fell 10 percent year-on-year last year to VND167 million, according to the health ministry.

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  • Mercedes dealer reports record loss in Q3

    Mercedes dealer reports record loss in Q3

    Hang Xanh Motors Service JSC (Haxaco), a major Mercedes-Benz dealer in Vietnam, reported a record loss, more than VND33 billion ($1.4 million) in Q3, due to social distancing orders.

    Revenue in Q3 was VND700 billion, down 59 percent compared to the same period last year.

    Social distancing measures applied in Hanoi, Ho Chi Minh City and other localities in this quarter have seriously affected Haxaco and the automobile industry. The company’s two branches in HCMC had to temporarily close in Q3 while another in Hanoi was closed until Sept. 12.

    “This has caused a decline in our sales and services during this period,” the company noted.

    Between January and September, the auto dealer’s revenue was VND3.4 trillion, down 9 percent over the same period, equivalent to 35 percent of this year’s business plan.

    However, profit dropped by 45 percent to VND44 billion.

    Despite the revenue decline, the company retains a positive forecast for the last quarter of this year. It has thoroughly prepared to resume operations in the new normalcy, with all employees fully vaccinated to ensure operational safety.

    Previously, in the annual meeting at the beginning of the year, the company set a business plan for 2021 with a net profit of VND126 billion.

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  • The Ritz-Carlton Residences to arrive in Hanoi

    The Ritz-Carlton Residences to arrive in Hanoi

    The first Ritz-Carlton branded residences in Vietnam is set to open in late 2023. Masterise Homes and Marriot International on May 10 announced the signing of an agreement for The Ritz-Carlton Residences, Hanoi, a standalone luxury branded residential project that marks the debut of the Ritz-Carlton brand in Vietnam, slated to open in late 2023.

    The Residences at the Grand, Hanoi will be situated in the heart of the prestigious Hoan Kiem District, along popular Hang Bai Road and near Hoan Kiem Lake, one of the city’s most beloved landmarks. The anticipated 104-unit branded residences will feature one-bedroom Premier, two-bedroom Classic, and three-bedroom Presidential suites, to suit each resident’s needs and preferences.

    The project features award-winning architects, designers, and project management consultants. Once complete, the residences will be the country’s first Ritz-Carlton Residences and the fifth in Asia Pacific following Singapore, Bangkok (Thailand), Colombo (Sri Lanka), and Kuala Lumpur (Malaysia). The agreement leverages the long-term strategic partnership between Masterise Homes and Marriott International, combining the expertise of a pioneer in luxury real estate products and services in Vietnam and the global hotel management company, owner of the Ritz-Carlton brand.

    Jason Turnbull, deputy managing director cum CFO Masters Homes, commented: “The Ritz-Carlton Residences, Hanoi at The Grand is an ultra-luxury development set to offer an enduring legacy for residents and expected to be a masterpiece that matches the beauty of the facade’s classical architecture and modern design combined with the legendary service of The Ritz-Carlton. This project expects to change how we look at ultra-luxury living and elevate Vietnam’s position on the global real-estate map.”

    In line with the long-standing tradition of service excellence synonymous with The Ritz-Carlton brand, homeowners will be able to enjoy world-class amenities complemented by the legendary service from the Ladies and Gentlemen of The Residences. Its prominent location offers the best of the city within close proximity and allows residents to enjoy the vibrancy of Hanoi’s Old Quarter streets, and return to the comfort and privacy of their residences in mere minutes.

    “We are thrilled to continue working with Masterise Homes to amplify our luxury presence in Vietnam with the signing of The Ritz-Carlton Residences in Hanoi – embracing the growing demands for branded living in this burgeoning cosmopolitan city,” said Rajeev Menon, president, Asia Pacific (excluding China), Marriott International.

    “Vietnam is a dynamic market and we look forward to bringing the brand’s refined style and legendary services to residents in Vietnam.”

    The Residences at The Grand, Hanoi is the second Marriott branded residences in Vietnam, following the milestone dual- branded Grand Marina, Saigon announced earlier this year, which operates under two brands within the Marriot Bonvoy portfolio – JW Marriott and Marriott Hotels.

    The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, MD., part of Marriott International, Inc., currently operates more than 100 hotels and over 45 residential properties in 30 countries and territories. With 100 years of history, an unshakeable credo and corporate philosophy of un-wavering commitment to service, both in their hotels and in our communities, The Ritz-Carlton has been recognized with numerous awards for being the gold standard of hospitality.

    Masterise Homes, a member of Masterise Group, is a pioneer in bringing world-class excellence to the development, operations, and management of luxury real estate products and services, in the Vietnamese market and beyond. With a one-of-a-kind portfolio comprising the largest Branded Residences in South East Asia, Masterise Homes demonstrates world-class capabilities via a strategic partnership with Marriott International, the largest hotel brand in the world featuring the iconic brands of Marriott, JW Marriott and Ritz-Carlton.

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  • Hanoi to restrict motorbike shipper timings

    Hanoi to restrict motorbike shipper timings

    Hanoi will restrict motorbike shippers’ timings to between 9 a.m. to 8 p.m. every day, starting Monday, while requiring continued compliance with all pandemic prevention and safety measures.

    All shippers, accordingly, will have to furnish a certificate with negative PCR or rapid antigen test results in line with health ministry regulations.

    The timing restrictions are needed because the motorbike delivery service is hard to control and carries the risk of further spreading the coronavirus, officials said.

    Hanoi has allowed delivery people from supermarkets, e-commerce platforms and postal services but not from ride-hailing companies like Grab, Be and Gojek since July 24.

    Hanoi has undergone several social distancing orders since late July. It has recorded over 3,700 infections in the ongoing outbreak that hit the nation late April.

    City authorities have said that they would extend strict lockdown orders in most parts of the city after September 6.