Industry

A Vietnam-Singapore forum specifically for senior energy industry leaders is scheduled to be held on October 21 in Hanoi in order to discuss how to maintain growth and sustainability, even during crises and challenging contexts. The key topics on the agenda for discussion are global energy sector development and trends, challenges, opportunities, and strategic implications for the nation. This is along with methods for navigating through the COVID-19 pandemic as adopted by leading regional corporations such as Temasek Holdings and Sembcorp Industries. Speakers include influential regional leaders such as Douglas Foo, president of the Singapore Manufacturing Federation, chairman of the Vietnam-Singapore Business Council, and a nominated Singapore MP. He will be joined by Vu Minh Khuong, associate professor at the National University of Singapore, Fadah Alsagoff, management team member and head of enterprise development at Temasek Holdings, Singapore, and Wong …

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Products exported to the U.S. would take over three weeks to be transported, and another three to be put into storage as only half of the workforce is available due to the pandemic. For products exported to China, the time it takes to do so is around 7-8 days instead of the usual 4-5. Such delayed customs clearance have affected the costs and quality of exported products, Nguyen Dinh Tung, director of the Vina T&T company, said at a meeting on agricultural product sale on Saturday. Port congestion in both Vietnam and around the world is severely impacting exports, Tung said. Prolonged transportation time has also caused imported products to be spoiled, he added. Personnel working at ports, both in Vietnam and around the world, is being limited to 50 percent, causing export delays. Increased booking cancellation rates by shipping companies has also been a problem. The Covid-19 situation in the south has also caused shipping companies to cut down the number of voyages to …

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Revenue of the passenger transport operator hit nearly VND600 million in the third quarter of this year, down 98 percent compared to the same period of 2020. Suspending operations during the social distancing order, the company mainly survived by collecting service fees for cargo vehicles at the terminal. During January-September, revenue dropped by 38 percent to more than VND50 billion, equivalent to one-third the 2021 plan. Post-tax profit recorded a decrease of 67 percent to nearly VND14 billion, equivalent to one-fourth the profit target. In a recent move, Ho Chi Minh City plans to reopen inter-provincial buses from November to meet the demand of workers returning to the city, a hub of industrial and processing parks. However, passenger transport routes are required to operate 50 percent of the frequency, gradually increasing as scheduled. Previously, the inter-provincial passenger transport service had suffered seriously from the high-Covid-risk city’s decision on …

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At the event. (Photo: VNA) Quang Binh (VNA) - A webinar to bolster cooperation between the central coastal province of Quang Binh and the Republic of Korea (RoK) was held on October 15. At the event, head of the Department of Foreign Affairs for Provinces at the Ministry of Foreign Affairs (MoFA) Tran Thanh Huan said the ministry and the Embassy of RoK in Vietnam together with RoK partners have organised various events to bolster cooperation between the two countries at large and Quang Binh and the RoK in particular. Briefing the participants on Quang Binh’s potential and strengths across multiple fields, Secretary of the provincial Party Committee Vu Dai Thang said the webinar offered a chance for Quang Binh and RoK businesses and investors to enhance connection and information sharing, thereby fostering investment in the Vietnamese province. Investors from the RoK are among prioritised partners of Quang Binh and they will receive optimal conditions to operate in the …

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Draper Startup House Ventures in Singapore. It has launched its first global fund targeting early-stage companies in Southeast Asia, including Vietnam. Photo courtesy of Draper Startup House Ventures Draper Venture Network fund’s Singapore operation has launched a new micro fund targeting founders at the earliest stages of building tech start-ups in Southeast Asia, including Vietnam. Draper Startup House Ventures’ first investment was in Ferne Health, a Singapore healthcare start-up addressing sexual health. The fund management is headquartered in the US and Singapore, but aims to invest world-wide. General partners Giulianna Crivello and Vikram Bharati, founder of Draper Startup House International, will co-manage the fund along with long-time advisor Nick Martin. It will focus on the Asia-Pacific where it has already invested in 60 countries and 30 industries. — VNS …

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A SkyX Solar project in Dong Nai. With EDF Renewables as a strategic partner, SkyX Solar plans to invest $100 million in the next two to three years to develop 200MWp of rooftop solar power systems in Viet Nam. VinaCapital Group, one of Viet Nam’s leading investment management companies with over US$3.7 billion in assets under management, announced on October 14 that EDF Renewables, an international leader in renewable energy, has made a significant investment in its subsidiary SkyX Energy, the holding company of SkyX Solar, a rooftop solar power developer. SkyX Solar, which has around 30 MWp of solar projects in operation, plans to invest more than $100 million to further develop 200MWp of rooftop solar. Don Lam, co-founder and CEO of VinaCapital, said: “A few years ago we recognised the critical role that clean energy will play in powering Viet Nam’s continued growth and development. The launch of SkyX Solar in 2019 is just one of our initiatives in the sector, and in a very …

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Vietnamese consortium will construct two offshore substations for the Hai Long 2 and Hai Long 3 wind projects. — Photo bnews.vn Yushan Energy, a subsidiary of low carbon energy developer Enterprize Energy, and Canadian independent power producer Northland Power, have selected a Vietnamese consortium led by Semco Maritime and PTSC M&C to construct two offshore substations for the Hai Long 2 and Hai Long 3 wind projects. Located off the Taiwanese coast (China), the sites will deliver more than 1 GW of green wind energy once commissioned in 2025-26. Yushan Energy, a consortium led by Enterprize Energy and Mitsui & Co, are co-developers of the Hai Long Offshore wind portfolio, owning 40 per cent, with Northland Power owning 60 per cent. It includes design, engineering, procurement, construction, and commissioning of the two offshore substations. The substation jackets will be manufactured at PTSC M&C’s yard facilities in Vung Tau, a port city in south Viet Nam, …

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