Construction industry development board

Increasing demand Nguyen Tuan Anh, Deputy Director of the Electricity and Renewable Energy Authority under the Ministry of Industry and Trade (MoIT), said that new power sources expected to be put into operation in the 2022-2025 period will not keep up with the load growth, making it increasingly difficult to ensure stable supply and risking peak capacity shortage in the northern region from May to July. Transmission of renewable energy sources remains limited Nguyen Tuan Anh explained that about 10 major power projects in which Electricity of Vietnam (EVN) is not invested, are behind schedule bringing capacity shortage to about 7,000 MW, which will affect power supply. Meanwhile, renewable energy sources (solar and wind power) have been significantly supplemented, but transmission of the energy remains limited, likely resulting in local electricity shortages at times. Tuan Anh also said that according to the MoIT’s Electricity Master Plan VIII, the demand for … [Read more...] about Transparency needed to draw power industry capital, officials say

Samsung Vietnam's management board at the ceremony. The R&D Centre has an investment of about US$220 million. — Photo courtesy of the firm Samsung Vietnam on Saturday officially completed the construction of the civil work for the new Samsung Research and Development Centre in Ha Noi’s Tay Ho urban area. To show the determination to ensure safety and complete the work on schedule, a safety oath ceremony was held. Starting in March 2020, the construction has completed 70 per cent of the workload, thereby ensuring its schedule so that the new centre can be completed by the end of this year as committed to the Viet Nam Government. In October 2020, the foundation construction was completed. In April 2021, the work completed 30 per cent of the plan and started construction of the floating structure. By September 2021, 50 per cent of the work has been completed. Last year, despite the complicated situation of the COVID-19 pandemic, Samsung Vietnam ensured strict compliance … [Read more...] about Samsung Vietnam completes construction of new R&D Centre

Vietnamese Prime Minister Pham Minh Chinh stopped over the New York Stock Exchange (NYSE) as part of his U.S. visit on Monday (local time) and rang the bell marking the end of the trading session at ‘The Big Board.’ PM Chinh expressed his pleasure to visit the NYSE, the world's largest stock exchange in terms of market capitalization, and to ring the bell closing the trading session. The premier hoped that the NYSE will give support and share its experience to help promote the development of an effective and sustainable stock market in Vietnam, and build a mutually beneficial partnership with Vietnamese partners, contributing to enhancing the Vietnam-U.S. comprehensive partnership. On this occasion, he witnessed the signing of two cooperation documents in the fields of finance, banking, and investment between Vietnamese and American companies, including the cooperation document between the State Securities Commission of Vietnam and the NYSE on providing support for market … [Read more...] about Vietnamese premier rings bell to close trading session at New York Stock Exchange

EVN workers examine electricity facilities (Photo: VNA) The Vietnamese government’s permission for private companies to invest in and build power plants and transmission systems became a big step forward, bringing competition in the energy sector to a manageable level. The first 500kV super-high voltage power transmission line invested by Trungnam Construction and Investment JSC has been operating stably for more than a year. Trungnam’s project includes a 500kV substation and transmission lines combined with a 450MW solar power plant, promoting its advantages when participating in the power grid of Ninh Thuan province and the south-central coastal region. Pham Nhu Anh, member of the Executive Board of Military Bank, which arranged capital for Trungnam to invest in transmission infrastructure, pointed out that capital is still a bottleneck in Vietnam’s electrical infrastructure development. According to Anh, the fact that Electricity of Vietnam (EVN) still holds a monopoly on … [Read more...] about Transmission boost to remove major power bottlenecks