Other News Power crunch threatens Vietnam The Saigon Times Daily Wednesday, Nov 13, 2019,19:25 (GMT+7) Power crunch threatens Vietnam The Saigon Times Daily Electricity workers inspect transformers in the northern province of Phu Tho. The Government is scrambling to head off an impending energy crunch that threatens to bring blackouts within this and next year – PHOTO: VNA HCMC – The country, especially in the southwest region, is at risk of an electricity shortage this year and next, stated Minister of Industry and Trade Tran Tuan Anh at a meeting on November 11. The situation will not improve until 2022-2023 as the country is facing a shortage of investment in power generation and transmission. The ministry noted in a report to the Government and the National Assembly that extreme weather has caused prolonged droughts for many localities across the country, reducing water flow to hydropower reservoirs. … [Read more...] about Power crunch threatens Vietnam
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Hefty investments Among 70 countries and territories in which Vietnamese have investments, Laos, Cambodia and Myanmar are the three biggest target markets. Laos is the biggest FDI recipient from Vietnam, having accepted $5 billion worth of registered investments. In January 2017, Viettel received an investment license for setting up a telecom network in Myanmar – Mytel. BIDV in 2016 got a license to set up a branch in Myanmar – BIDV Yangon with charter capital of $85 million. The dairy factory Vinamilk built in Cambodia became operational in 2016, while the Vietnam Rubber Group began processing rubber latex in 2015. Hoang Anh Gia Lai Group is one of the biggest outward investors. In addition to a series of projects on agriculture production in Laos, in 2015 built the Attapeu international airport worth $36 million and HAGL Center worth $550 million in Myanmar. In 2016, it kicked off the second phase of HAGL Center and joined forces with Melia Hotel to run a … [Read more...] about How are Vietnamese businesses performing in Laos, Cambodia, Myanmar?
NA Chairwoman Nguyen Thi Kim Ngan receives Deputy Speaker of the Assembly of the Union of Myanmar Aye Thar Aun Chairwoman Ngan congratulated Myanmar on its recent socio-economic achievements, voicing her belief that the country will succeed in promoting national reconciliation and harmony and improving its stature in the region and the world. She expressed her delight at the increasingly strengthened friendship and cooperation between the Vietnamese NA and the Myanmar parliament, as seen in an official visit to Vietnam by Speaker of the Assembly of the Union Mahn Win Khaing Than in May 2017 and another trip to Myanmar by a high-ranking delegation of the Vietnamese NA in September 2016. Deputy Speaker Aye Thar Aung highly valued Vietnamese people’s heroic struggle in the resistance wars to liberate the country in the past, as well as its achievements in social affairs, economy, political stability and external work at present. He said Vietnam is increasingly affirming … [Read more...] about Leaders highlight strengthened Vietnam-Myanmar parliamentary ties
While receiving NongHyup Bank President Lee Dae-hoon on January 31, Vice Chairman of the municipal People’s Council Pham Duc Hai congratulated the bank on its recent achievements, especially the expansion of branches in regional countries, including Vietnam. NongHyup Bank's Hanoi branch inaugurated in 2016. Photo: thuonggiaonline.vn Hai said HCM City supports NongHyup’s plan to open the branch – a move shows the bank’s resolve to invest more intensively and extensively in the city. He expressed his belief that with its experiences in opening the Hanoi branch, the NongHyup Bank will be successful in deploying banking and credit activities in HCM City, thereby helping to connect investment and business activities of Korean and Vietnamese firms. Briefing his host about NongHyup’s operations, Lee asked HCM City leaders to support the opening of the branch, thus creating favorable conditions for Korean enterprises to do business in the city. … [Read more...] about NongHyup Bank to open branch in HCM City
The event attracted a number of enterprises from Eastern Europe and Vietnam to meet and seek co-operation opportunities. It also aimed to help Eastern European enterprises to better understand Vietnamese agricultural products. According to Deputy Minister of Industry and Trade Hoang Quoc Vuong, Eastern European countries are considered a traditional and important export market for Vietnamese goods. Deputy Minister of Industry and Trade Hoang Quoc Vuong speaks at the forum Institutions and legal frameworks for developing bilateral cooperation have been established between Vietnam and the Eastern European countries, including 14 intergovernmental committees, a mechanism for economic cooperation consultation between Vietnam and Poland and a Free Trade Agreement between Vietnam and the Eurasian Economic Union (including Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan), he noted. However, the total trade revenue between Vietnam and the Eastern European countries still … [Read more...] about Vietnam promotes agricultural, textile and footwear exports to Eastern Europe