The Global Green Grown Institute (GGGI) and GIZ released a landmark report on December 10 that shows how Vietnam’s sugar industry could generate enough clean biomass electricity to power 630,000 households per year, create thousands of jobs, and reduce carbon emissions. Vietnam’s vast sugar industry can utilize its bagasse waste from crushed sugarcane together with other sources of biomass like wood chips, rice straw, and rice husks to generate much-needed electricity in a carbon neutral manner. There are currently 41 sugar mills in Vietnam generating over $1 billion in revenue and contributing at least 0.53 per cent of the country’s GDP. Total energy production could reach 4,300 GWh per year, which is enough to power 630,000 households. To reach full potential the report calls on the government to: Apply and increase the feed-in-tariff for all biomass energy technologies to 9.35 US cents per kWh from the current 5.4 US cents. Revise the current power purchase … [Read more...] about Biomass energy from sugar industry a viable option
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Vietnam sugar industry can power 630,000 households annually
The Hanoitimes - The report calls on the Vietnamese government to apply and increase the feed-in-tariff for all biomass energy technologies to USD9.35c per kilowatt hour (kWh) from the current tariff of USD5.4c per kWh. Vietnam’s sugar industry could generate enough clean biomass electricity to power 630,000 households per year, create thousands of jobs and reduce carbon emissions, according to a report launched by GGGI and GIZ Monday. Illustrative photo Vietnam is now home to 41 sugar mills, which generate over USD$1 billion in revenue, contributing at least 0.53% of GDP. The total energy production could reach 4,300 GWh per year, which is enough to power 630,000 households. The report’s conclusions are based on pre-feasibility studies conducted by GGGI and GIZ at five sugar mills across the country. The report scales up the detailed analysis to the national level to provide recommendations for the government on how to unleash the potential of … [Read more...] about Vietnam sugar industry can power 630,000 households annually
Bac Giang: building firm FDI foundations of industry and tourism
Bac Giang will step up its FDI game for further development A rising FDI destination Recently, many big South Korean companies in the technology and electronics sector like Samsung and LG continue to choose Vietnam to house their large factories. This, in turn, attracts many Korean suppliers to Vietnam. A latest example is SJ Tech Vietnam—a 100 per cent Korean-owned firm—which invested into a facility manufacturing LCD components for mobile phones in Bac Giang. The project’s area is more than 50,000sq.m, with the total investment value reaching $17 million. In 2018, the company’s revenue is expected to reach over VND200 billion ($8.85 million). Each year, the firm pays tens of billions of dong into the state budget, generate employment for thousands of labourers, with incomes from VND7-10 million per person per month. Talking about why SJ Tech Vietnam chose Bac Giang for its factory, general director Ry Hyoung Goan shared that from the beginning of the … [Read more...] about Bac Giang: building firm FDI foundations of industry and tourism
VN’s 10 leading IT companies in Industry 4.0 announced
Having been organized since 2014, the program ‘Vietnam’s 50 Leading IT Companies’ has experienced many adjustments to encourage businesses to actively participate in the digitization process and well prepare for the new global technological trends, especially in the Industry 4.0. Launched in June 2018, the program aims at choosing 50+10 companies in the four fields of Business Process Outsourcing (BPO), IT Outsourcing and Knowledge Process Outsourcing (KPO); Software, IT Solutions and Services; Digital Content, Applications, and Solutions for Mobile Devices; and 10 Prominent Companies with Technological Ability in Industry 4.0. After the preliminary, evaluation, and final rounds, the program was able to select 53 companies in the two groups of Vietnam’s 50 Leading IT Companies and 10 Prominent Companies with Technological Ability in Industry 4.0. Statistics show that these enterprises had the total revenues of VND374,433 billion (approx. $16.69 billion) last … [Read more...] about VN’s 10 leading IT companies in Industry 4.0 announced
Banks prepare to raise game and list on overseas bourses
Listing on overseas stock exchanges is an ambitious endeavour for Vietnamese banks, Photo: Dung Minh In its Decision No.986/QD-TTg dated August 8, the Vietnamese government set out a clear pathway for the strategic development of the Vietnamese banking sector for the period 2018-2025, with a vision towards 2030. Accordingly, in the first phase of 2018-2020, Vietnam will continue to clean up its banking system by resolving the issue of non-performing loans (NPL) and troubled lenders on a market mechanism basis and reducing the number of credit institutions to ensure better health for the entire sector. By the end of 2020, Vietnam looks to have at least 12-15 banks fully compliant with Basel II standards and one or two banks making it into the region’s top 100 largest banks in terms of assets. As for larger ambitions, in the next phase of 2021-2025, the local banking sector is expected to improve its competitive capacity, transparency, and corporate management in line with … [Read more...] about Banks prepare to raise game and list on overseas bourses