New projects in electrical engineering

Samsung Engineering and DNP Water sign the agreement. Samsung Engineering plans to actively target Viet Nam as a base for the Asian water treatment market. — Photo courtesy of the firm Samsung Engineering, one of the world’s leading engineering, procurement, construction and project management (EPC&PM) companies and Dong Nai Plastic (DNP) Water on Wednesday signed an agreement to acquire a 24 per cent stake in the Vietnamese water treatment company for about 52.7 billion KRW (US$41 million). With this acquisition, Samsung Engineering will hold 24 per cent of the stake in DNP Water, DNP Holding will hold 53 per cent, and other stakeholders 23 per cent. DNP Water is a private enterprise that focuses on local water supply businesses and is the largest private water treatment company in Viet Nam in terms of treatment capacity. It was spun off from the DNP Group, a manufacturer of plastic piping, in 2017. Since then, it has been growing in the water treatment business by … [Read more...] about Samsung Engineering acquires stake in Vietnamese DNP Water

EDPR has reached an agreement with Trina Solar, the world-leading PV and smart energy total solution provider, to acquire the Trung Son Solar PV project in Khanh Hoa province. Put into operation in December 2020, the project has a power purchase agreement (PPA) signed with Electricity of Vietnam under a 20-year feed-in tariff (FiT). In June, EDPR also inked a deal to scoop up two solar plants in Vietnam with a total capacity of 200MW from Xuan Thien Group. Situated in Ninh Thuan province, the two solar plants have been operated since 2020. The deals have an estimated valuation of $284. Vietnam is one of the fastest-growing economies in Southeast Asia with power demand increasing at around 10 per cent per annum. Thermal represents around 50 per cent of the capacity mix and energy dependence has increased significantly with net imports currently at 30 per cent of total energy demand. With the objective of increasing the weight of renewable energy sources in the energy mix and … [Read more...] about EDPR forays into Vietnam’s renewable energy market after taking over a solar PV project

The Renewable Energy in Sustainable Industrial Parks conference was organised by the Haiphong Economic Zone Management Board in collaboration with the Embassy of the UK, the nation's Chamber of Commerce and Industry, and Star Do Group. Head of the Haiphong Economic Zone Management Board Le Trung Kien asserted the green development demand of Haiphong city and its industrial parks and economic zones. Photo: Thanh Son Attendees at the conference were Harry Rawicz-Szczerbo, head of the Trade and Investment Department at the UK Embassy; Le Trung Kien, member of the city Party Committee's Standing Board and head of the Haiphong Economic Zone Authority; Mark Shorrock, chairman of Shire Oak International; Nguyen Thanh Phuong, CEO of Sao Do Group; and representatives of Haiphong's departments and agencies, investors, and businesses. Mark Shorrock, chairman of Shire Oak International, talked about the renewable energy demand of businesses in the RE100 group. Photo: Thu … [Read more...] about Haiphong promotes renewable energy investment in industrial parks

Malaysian Minister of Finance Zafrul Tengku Abdul Aziz (Photo: Bernama) Kuala Lumpur  (VNA) -  The total amount of subsidies for Malaysian people is expected to reach near 80 billion RM (nearly 20 billion USD) in 2022, according to Malaysian Minister of Finance Zafrul Tengku Abdul Aziz. In the 100th People’s Financial Report released on June 27, the minister said to reduce inflationary pressures on the people, the government has provided various consumption subsidies consisting of petrol, diesel, liquefied petroleum gas (LPG), cooking oil, flour and electricity. The projected consumption subsidies expenditure for 2022 is the highest amount of subsidies in history ever borne by any government, he added. The Malaysian government will continue to implement policies to curb inflation in order to avoid excessive price increases, and help those in need of direct assistance. Large amounts of government funds have been spent to address the impact of the COVID-19 … [Read more...] about Malaysia to spend 20 billion USD on subsidies in 2022

NA Chairman Vuong Dinh Hue (R) meets with Prudential Chairwoman Shriti Vadera in London on June 29. (Photo: VNA) London (VNA) – National Assembly (NA) Chairman Vuong Dinh Hue received leaders of some enterprises of the UK in London on June 29 (local time), part of his official visit to the European country. Talking to Prudential Chairwoman Shriti Vadera, the NA leader congratulated the firm on its successes in the world as well as in Vietnam, expressing his hope that it will continue operating successfully in the country and fulfill its social responsibility. He affirmed that the Vietnamese Government and NA are ready to consider and deal with the problems facing businesses, including those from the UK, when operating in Vietnam. Vadera said Prudential is delighted to be part of the country’s development, and it can help with this process by issuing long-term bonds. The insurer pledges to cooperate with the Vietnamese Government in green investment, insurance … [Read more...] about NA Chairman receives leaders of British enterprises in London

The investor Madison Land shared that the project topped out on schedule and delivered the committed construction quality by the contractors: Dong Duong Construction Investment JSC, Viteccons Construction Investment JSC, and a private unit project management Synergy Consultancy Corporation. The project is sponsored by leading state lender Vietinbank. Representatives at Dhawa Ho Tram Hotel’s topping out ceremony It took precisely one year from the construction started during the pandemic until the Dhawa Ho Tram Hotel has been completed. Phuong Dang, CEO of Madison Land Co., Ltd. asserted, “These efforts showcase our commitment to bring the best quality products to customers in the shortest time.” Phuong added that the Dhawa Hotel's construction started right at the peak of the pandemic and has put Madison Land and its partners in front of various challenges in terms of human resources, raw materials, and supply chain disruption. "Nevertheless, thanks to the … [Read more...] about Dhawa Ho Tram Hotel topped out on schedule

This river trash capture tool (hereinafter referred to as a “trash trapper”) is financially supported and technically advised by US-based NGO Ocean Conservancy through “Strategic Plastic Litter Abatement in the Song Hong” project. This project is managed and implemented by MCD in collaboration with the Nam Dinh DONRE and other local and national partners. The event was attended by national-level government representatives from the Vietnam Administration of Sea and Islands; the Vietnam Inland Waterways Administration and its Northern Branch; Vietnam Academy for Water Resources; and from MCD; the delegates who participated in the event from Nam Dinh province include: leaders and officers of the DONRE; representatives of the Department of Transport, Department of Agriculture and Rural Development, Traffic Police Division, Riverway Management Company No. 5; representatives of the Division of Natural Resources and Environment of Nam Dinh city and the People's Committee of Tran Te … [Read more...] about River trash capture tool launched in Nam Dinh Province

The system is making steady progress towards transiting to launch by around Pi2 Day - June 28, the development team announced on the Pi Network app last Tuesday. Since Monday night, Pi miners in Vietnam have started to wait for the transition. Many claimed to be business owners and said they will accept the token as a payment method as soon as the coin can be exchanged. Pi and other cryptocurrencies are not legal tender in Vietnam, Dao Minh Tu, the deputy governor of the State Bank of Vietnam, has said. Huynh Tan of HCMC said he has signed in the app to earn rewards every day for the last three years. "I have joined the project since its beta stage. Now it is about to enter the mainnet stage, so I hope to be able to exchange Pi for money or something." He said prices of thousands dollars is "very unlikely" as there are 100 billion tokens, but the ‘consensus price’ may be of any number. A poll on a Pi group found 75 percent of nearly 3,400 users believing in a ‘consensus … [Read more...] about Pi miners anxiously await monetization

Real estate prices in Ho Chi Minh City skyrocketed during the second quarter of this year to hit record highs, with some villas in the city currently on sale for VND700 billion (US$30 million), according to statements given at a conference on Tuesday. At the 'Money Flow and Real Estate Trends in Late 2022' conference hosted by Cafeland , a real estate website, Vo Huynh Tuan Kiet, director of housing project marketing at CBRE Vietnam, shared that houses and villas in urban areas in the east of the city are currently on the market for prices ranging from VND200 million ($8,580) to $400 million ($17,200) per square meter. Regarding housing supply, Kiet said that the number of available apartments in Ho Chi Minh City soared to 12,000, up from about 1,000 in the first quarter of this year. The supply in the second quarter is nearly equal to that in the third quarter of 2019, a sign that the market is making a serious comeback. These apartments, however, are primarily high-end and … [Read more...] about Housing prices in Ho Chi Minh City hit record highs

UK trade minister Anne-Marie Trevelyan said the country wants to be a part of Vietnam’s development story in the 21st century, and fostering bilateral trade relations is among its priorities. Vietnam and the UK should set a trade turnover target of over US$10 billion by 2023, which would be a meaningful step to mark the 50 th anniversary of Vietnam-UK diplomatic relations next year. Chairman of the National Assembly Vuong Dinh Hue (mid) at the forum. Source: VNA Deputy Prime Minister Le Van Thanh gave the remarks at the Vietnam-UK High-level Forum on Economy and Trade held on June 29. The event is one of the highlights of a visit to the UK by the high-ranking delegation from the National Assembly of Vietnam led by Chairman Vuong Dinh Hue from June 28-30. According to Thanh, the Vietnam-UK strategic partnership has progressed strongly over the years and contributed to socio-economic development in each country. Thanh expected the partnership would … [Read more...] about Vietnam-UK target US$10-billion trade turnover by 2023