The occasion, he called on departments, localities and businesses to join handsĪnd fulfill the goal of building at least 1 million social housing units for Particularly the Vietnam Bank for Social Policies must create favourableĬonditions for low-income individuals and workers in industrial zones to accessĬapital and purchase or rent social housing. Resources and land for social housing development projects. Meanwhile in the second stage, more than 1,500 apartments will be builtĪnd handed over in the fourth quarter of 2024.Īt the groundbreaking ceremony, PM Chinh asked Bac Giang and localities to continue allocating The first stage, 2,500 apartments will be delivered by the end of MarchĢ024. It is expected to provide round 7,000 apartments for over Project, covering a total area of up to 12.6ha, consists of 16 20-storey apartment buildings and is estimated to cost nearly 5 The afternoon of the same day, the PM attended the groundbreaking ceremony for a second-phase social housing project for workers in Nenh town in Viet Yen district of Bac Giang province. Social housing project in Bac Giang (Photo: VNA) Particular, as it serves as a gateway to the province.Įxpressed his hope that after the bridge was inaugurated, people will travel moreĬonveniently, contributing to realising the Politburo’s resolution on the Speaking at the inauguration ceremony, PM Chinh said the bridge will help promote socio-economic development in the northeastern region in general and Bac Giang in Hanoi - Bac Giang expressway, crossing Cau river. The bridge has a total length of about 445m and a width of 16m, with two approach road sections stretching 800m. Now, it’s removed any time reference from its financial documents, saying only that pre-construction work started in the third quarter of 2022 and phase one is expected to have an initial capacity of 150,000 vehicles per year, ramping up to around 250,000 vehicles a year upon completion of phase two - but giving no expected date for when that might be.At ribbon-cutting ceremony for Nhu Nguyet bridge 2 (Photo: VNA)īac Giang (VNA) – Prime Minister Pham Minh Chinh cut the ribbon to inaugurate Nhu Nguyet bridge 2 and attended a groundbreaking ceremony of a social housing project for workers in the northern province of Bac Giang on June 16.Ĭonstruction of the bridge started in April 2022Īt a total cost of over 456 billion VND (19.8 million USD) sourced from the provincial budget. In March, the company indicated production at the as-yet-unbuilt facility wouldn’t start until 2025. The manufacturer also appears to have moved away from a time frame for production at its mooted factory in North Carolina. Last month, Vuong said VinFast could be profitable after 2025 if operations are “smooth” and break even by the end of next year. The company’s first-quarter result compares to a 9.7 trillion dong net loss in the year-earlier period. Its parent Vingroup JSC, its affiliates and external lenders have deployed around $9.3 billion to fund the EV maker between 2017 and the end of March, according to the filing. Vuong’s push to prop up VinFast has been costly. Read more: Richest Man in Vietnam Reinforces Risky $8 Billion Wager on EVs VinFast is forecasting sales to reach 45,000-50,000 this year and has said it may produce electric pickup trucks, a mini car and other models - subject to market demand. slashing prices and putting pressure on incumbents such as Ford Motor Co. While VinFast has started shipping its battery-powered sport utility vehicles to customers in the US, it’s wading into an increasingly competitive market, with Tesla Inc.
The deal, to be completed by July 20, would give VinFast an equity value of about $23 billion. The company expects more operating and net losses in the near term as it scales vehicle production, sets up factories and pays for marketing, sales and servicing efforts, it said in a US regulatory filing.īacked by Vietnam’s richest man, Pham Nhat Vuong, VinFast plans to list in the US by merging with special purpose acquisition company Black Spade Acquisition Co.
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(Bloomberg) - VinFast’s net loss widened to 14.1 trillion dong ($599 million) in the first quarter ahead of a bid by the Vietnamese electric-vehicle maker to go public in the US this year. Also, view Dong to Dollar currency charts.
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