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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

A study proposes developing a mechanism for reserve capacity payments for flexible power plants, and developing an ancillary services market for the Vietnam grid. A latest power system study carried out by the Vietnamese Institute of Energy (IE) under the Ministry of Trade and Industry (MoIT) recommends adding internal combustion engine (ICE) power plants in the National Power Development Plan VIII to ensure energy security. An internal combustion engine In the short term, the IE recommends building 650MW of ICE power plants in the South during 2022-2023 to support the high energy demand from 2022 to 2025, especially as Vietnam is expected to experience delays in the delivery of some coal and liquified-natural gas (LNG) power projects in the South. Additionally, drought conditions could create a risk of power shortage in the country. In the long term, the needed capacity of flexible ICE power plants to provide reserve capacity, supply peak demand, and … [Read more...] about Vietnam should add internal combustion engine power plants from 2022: Study

Despite trade activities between the nation and South American nations seeing growth in recent times, it remains far from fulfilling its full potential, especially for the textile and garment sector, according to industry insiders. South America is viewed as a highly lucrative fashion market that boasts a population of more than 437 million people and a relatively high per capita income. However, there are still few businesses and consumers in South America who are fully aware of Vietnamese fashion products. Furthermore, the Vietnamese textile and garment industry is in the process of developing rapidly and is able to meet many large orders with high requirements from different markets. Currently, the nation’s textile and garment exports to Brazil stands at between US$150 million and US$200 million per year, whilst those to Chile are between US$70 million and US$90 million per year and to Peru the figure is around US$30 million to US$40 million per year. Meanwhile, local textile … [Read more...] about South America viewed as potential market for Vietnamese apparel

Greece lies at the juncture of Europe, Asia, and Africa, connecting important global trade routes. Greece hopes to expand trading relations with Vietnam after the ongoing visit paid by Greek President Katerina Sakellaropoulou. Greek President Katerina Sakellaropoulou welcomed in Hanoi on May 16. Photos: The World and Vietnam The Hellenic Republic expects to be a gate for Vietnamese goods to the European Union (EU) harnessing the EU-Vietnam Free Trade Agreement (EVFTA), according to Greek Ambassador to Vietnam Georgios Stilianopoulos, noting that Greece is one of the first countries ratifying the partnership and cooperation agreement (PCA) and approved the EU-Vietnam Investment Protection Agreement (EVIPA). Its geography allows Greece to connect to Europe, the Middle East, and the Black Sea, Stilianopoulos said, stressing that the Covid-19 pandemic has prompted a surge in demand for flexible supply chains. Being an EU member located at the juncture of the … [Read more...] about Greece wants to be transshipment hub for Vietnam goods to EU

Exness to Sponsor Forbes Investment Conference in Ho Chi Minh City To complement the theme of Smart Money, Forbes has invited an array of financial experts as speakers at their event. Fund managers, digital asset pioneers, analysts, and real estate professionals will be sharing their knowledge and insights with conference participants. Exness will have a prominent presence at the Forbes Investment Conference as an official sponsor. At a dedicated booth, the multi-licensed broker will be showcasing its diverse range of trading products, optimal trading conditions, and global success. "It is very exciting to be sponsoring Forbes Vietnam’s first-ever Investment Conference," commented Dung Thai, Exness Commercial director for Vietnam. "Forbes is the leading media outlet in the financial industry and the event will create a one-of-a-kind environment for us to interact with hundreds of investors." "Stocks and digital assets are two of the investment areas that the conference will … [Read more...] about Exness to sponsor Forbes Investment Conference in Ho Chi Minh City

The power industry is still facing many challenges to meet the rising demand in Vietnam. Vietnam needs US$133.3 billion to invest in new power plants and transmission networks from 2021 to 2030, according to Vice Minister of Industry and Trade Hoang Quoc Vuong. Vietnam needs US$133.3 billion investment in power projects by 2030. Photo: GIZ At the second conference on the National Power Development Plan VIII (PDP) VIII for the 2021-2030 period, with a vision to 2045 on September 28, the Vietnam Energy Institute (VEI) reported that of the total investment, US$96 billion will be spent on new power plants and US$37.3 billion on expanding the power grid. It means the country needs an annually an amount of US$13.3 billion for investment in new power plants and transmission networks in the next 10 years. Deputy Minister Vuong told the conference that according to the power source development program until 2030, the total power capacity is expected to increase by … [Read more...] about Vietnam needs US$133.3 billion investment in power projects by 2030

OCOP products made by the Tài Thịnh Phát FARM Co-operative in Cà Mau Province come with good packaging and labelling. — VNA/VNS Photo Huỳnh Anh CÀ MAU — The national 'One Commune – One Product' (OCOP) programme has helped improve the value of Cà Mau Province’s agricultural products and promote its speciality products. The southernmost province enjoys advantages in agriculture, forestry and aquaculture, which enable it to offer various products and services designated as OCOP. They include food, beverages, handicrafts, and rural tourism services. The province recognised 44 more OCOP products last year, taking its total to 77 ranking from three or four star level under a five-star system. The ones recognised last year include Ngọc Trân and Mạch Long fish sauce, Từ Tâm biological rice, Minh Duy fermented bulrush, Minh Quân dried soft banana, Ba Đức dried gourami fish, Năm Căn shrimp cracker, and Ngọc Hiển mangrove chopsticks. The province ranks fourth out of the delta’s 12 … [Read more...] about Cà Mau Province focused on One Commune – One Product

Vietnam makes effort to deter people from poaching wild, migratory birds Vietnam is considered one of the most important areas in the network of migratory and endemic bird routes, with 63 globally important bird regions and 7 endemic bird regions. Of more than 900 species of birds that have been recorded in the Southeast Asian country, 99 of them need conservation attention, 10 are critically endangered, 17 are endangered, 24 are endangered and 48 are about to be threatened. The areas of wild birds and migratory birds have created important natural values, contributing to nature conservation, biodiversity conservation, tourism development, and building the image of Vietnam. Although the Party, State, and sectors and levels have been making great efforts in protecting biodiversity, including wild and migratory birds as well as important bird areas, hunting and consuming wild birds, especially migratory birds, is still rampant in many localities, negatively affecting … [Read more...] about Vietnam makes effort to deter people from poaching wild, migratory birds

Vietnamese Prime Minister Pham Minh Chinh (C) visits the New York Stock Exchange (NYSE) (Photo: VNA) In his meeting with NYSE leaders, the Vietnamese PM expressed his pleasure to visit the largest stock exchange in the world in terms of market capitalisation, and thanked them for the warm welcome and the privilege to ring the bell to end the trading session of May 16. PM Pham Minh Chinh meets with representatives of NYSE (Photo: VNA) PM Chinh stressed that Vietnam is cracking down on the violations of a few unscrupulous investors in the country’s stock markets to ensure its security, transparency, and sustainable development. He asked the NYSE to cooperate and share experience in developing an effective, sustainable stock market in Vietnam as well as realising the country’s ambition to successfully build a regional-level financial centre, foster the win-win partnership between the NYSE and Vietnamese agencies and companies, contributing to the development of the … [Read more...] about PM visits New York Stock Exchange, holds roundtable with CEOs of int’l firms

In his meeting with NYSE leaders, the Vietnamese PM expressed his pleasure to visit the largest stock exchange in the world in terms of market capitalization, and thanked them for the warm welcome and the privilege to ring the bell to end the trading session of May 16. PM Chinh stressed that Vietnam is cracking down on the violations of a few unscrupulous investors in the country’s stock markets to ensure its security, transparency, and sustainable development. He asked the NYSE to cooperate and share experience in developing an effective, sustainable stock market in Vietnam as well as realizing the country’s ambition to successfully build a regional-level financial center, foster the win-win partnership between the NYSE and Vietnamese agencies and companies, contributing to the development of the U.S.-Vietnam comprehensive partnership. On the occasion, PM Chinh witnessed the awarding ceremony of two cooperation documents in the fields of finance, banking and investment funds … [Read more...] about PM visits New York Stock Exchange, holds roundtable with CEOs of world leading firms