Energy

When the waste-to-energy plant is in service, it will help Hanoi reduce pollution from waste. Soc Son Waste-to-Energy Plant, the largest of its kind in Vietnam with a capacity of handling 4,000 tons of solid refuse per day, will begin operation in Hanoi in mid-August Located next to the current Nam Son Waste Treatment Complex in the city’s Soc Son District, the plant, approved by the municipal authorities in late 2017, is designed to have a total investment of VND7 trillion (US$303 million). More than 90% of the Soc Son Waste-to-Energy Plant has been completed. Photo: Van Nhi It has 16 entry gates suited to different types of garbage trucks currently used in Vietnam. These trucks are now testing the unloading of garbage at the 16 gates to ensure precision when the plant comes into operation. The project’s investor is Hanoi-based Thien Y Environmental Energy JSC and its contractor, Chinese Metallurgical Group Corporation General Contractor MCC (China). …

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The Vietnamese data centre market is forecast to grow almost four-fold between 2016 and 2026. Source: Researchandmarkets.com The growth in the Vietnamese data centre market is driven by government projects and initiatives in the country. Data protection is a matter of global concern and is becoming an important issue on the agenda of the Vietnamese government as well. The data localisation requirement under the Cybersecurity Law, plus the need for better processing speed to assist Vietnamese users are the main drivers, which are anticipated to significantly enhance the demand for data centres in Vietnam. The Vietnamese government's inclination toward digitalisation has further bolstered the demand for data centres across the country. Furthermore, the Vietnamese data centre market is driven by the shifting of enterprises' data to cloud platforms. This has led to an increase in the adoption of data storage solutions, which in turn is expected to positively influence the growth …

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The consortium, Russian oil & gas consortium Zarubezhneft and Belgian DEME Concessions Wind have been granted permission from the southern province of Binh Thuan to implement the US$3.1 billion Vinh Phong offshore wind farm project within the locality. The 1,000 MW project is set to be divided into two phases, with the consortium planning to commission the project’s first phase of building the site up to 600 MW capacity by 2026, with the second phase to add a further 400 MW capacity by 2030. When fully operational, the project is anticipated to provide billions of kWh of electricity each year, thereby contributing approximately VND10,000 billion to the state budget and creating 2,500 jobs for people in the locality. This comes after the consortium and its member companies, including DEME Offshore Company and Vietsovpetro, signed a Memorandum of Understanding in April, outlining their aims to develop the project. Recently, offshore wind farm projects in the nation …

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July retail sales plunges nearly 20% due to COVID-19 Total retail sales of goods and services shrank 8.3 percent month-on-month in July to 14.84 billion USD as a result of restrictions induced to stem the ongoing COVID-19 outbreak. Total retail sales of goods and services in the first seven months of this year exceeded 121 billion USD, up 0.7 percent year on year. The Ministry of Industry and Trade is formulating specific plans to stimulate consumption and sustainably develop the domestic market./. Vinamilk posts record high net revenue in Q2 2021 The Vietnam Dairy Products JSC – Vinamilk, the largest dairy company in Vietnam, posted a record high in net revenue of 15.71 trillion VND (682.57 million USD) in the second quarter of 2021, a year-on-year rise of 1.4 percent, according to its financial report. The figure also rose by 19.2 percent compared to the previous quarter. The company’s after-tax profit exceeded 2.86 trillion VND in the period, a year-on-year …

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