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Well-known groups are continuing to pour money into Vietnam specifically for research and development, Photo: Le Toan LEGO Group COO Carsten Rasmussen last week arrived in Vietnam to speed up the preparation of a $1 billion complex in the southern province of Binh Duong. At last week’s meeting with the Danish toymaker, Deputy Prime Minister Pham Binh Minh said, “This is the largest capital from a Danish group investing in Vietnam, confirming the faith and optimism of Lego, as well as the interest of other Danish investors in this country.” Fresh updates recently revealed by the Ministry of Planning and Investment that the total newly-registered foreign direct investment (FDI) into Vietnam last year amounted to $38.85 billion, up 25.2 per cent on-year, thanks to two billion-dollar projects registered at $7.7 billion and both licensed on the last day of 2021. An annual report on FDI in Vietnam released last week by the Vietnam Association of Foreign-Invested Enteprises … [Read more...] about FDI quality in need of fresh policy boost

Flexibility is required in handling raw material issues for power plants and easing coal supply pressures, Photo: Shutterstock Thai Binh Thermal Power Plant under Electricity of Vietnam (EVN) has been in a coal shortage since the beginning of 2022. Ta Trung Kien, director of the plant, said that the volume of coal delivered “has been reduced significantly” compared to the signed contract. Vinacomin Group and Dong Bac Corporation – two of the coal suppliers for the Thai Binh Thermal Power Plant – delivered only just over 74 per cent of the monthly plan. “The two units of our plant need about 6,400 tonnes of coal per day. Due to a lack of coal, the plant was forced to use backup coal to maintain the operation. By the end of the first quarter, these reserves were at just about 14,000 tonnes, much lower than the required norm of 80,000 tonnes,” Kien said. Many other plants are facing similar problems, including Nghi Son 1, Vung Ang 1, Vinh Tan 2, and Duyen Hai 1, which currently … [Read more...] about Nation lacking coal supply for sufficient power generation

Ben Tre-born swimmer Pham Thanh Bao wins a gold medal in the men's 50m breaststroke event (Photo: VNA) Hanoi (VNA) - Vietnam’s national swimming team surpassed the gold medal target set for the 31st Southeast Asian Games (SEA Games 31) after winning two more gold medals on May 18. Ben Tre-born swimmer Pham Thanh Bao opened an impressive competition day of Vietnamese athletes with his an ecstatic performance in the men's 50m breaststroke event. The 21-year-old swimmer won a gold medal with a time of 28.28 seconds, beating strong rivals from Indonesia and Singapore. It was also his second gold at this year’s Games. Meanwhile, Tran Hung Nguyen pocketed a gold medal after his surprising performance in the men’s 200m medley event with a time of 2 minutes and 1.22 seconds. The 19-year-old swimmer competed with their strong rivals Kaewsriyoung Dulyawat of Thailand and Maximillian Wei Ang of Singapore in this event. The silver and bronze medalists in the day were Vo Thi My Tien … [Read more...] about Vietnamese swimming team exceeds gold medal target at SEA Games 31