Vietnam automotive industry report

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

With Vietnam-US economic relations having grown steadily over time, the American business community is very optimistic and working very hard in Vietnam, according to Virginia B. Foote, President of the Board of the US International Centre. Virginia B. Foote, President of the Board of the US International Centre, speaks to Vietnam News Agency reporters on the sidelines of Prime Minister Pham Minh Chinh’s meeting with US enterprises in New York on May 16. (Photo: VNA) The two countries have reached a new height of over 100 billion USD in two-way trade, Foote, who is also co-founder of the US-Vietnam Trade Council (USVTC) and President and CEO of Bay Global Strategies, told the Vietnam News Agency's reporters on the sidelines of Prime Minister Pham Minh Chinh’s meeting with US enterprises in New York on May 16. She highlighted the entrepreneurial spirit in Vietnam as well as its great workforce, better infrastructure and significant location in Asia … [Read more...] about American business community very optimistic about US-Vietnam economic ties

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

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

An additional 1,785 new Covid-19 infections were confirmed on Tuesday, raising the national tally to over 10.70 million, according to the Ministry of Health. According to the ministry's report, most of the new patients are locally-transmitted cases confirmed in 48 out of 63 localities in the country with some localities seeing the highest numbers including Hanoi (419), Vinh Phuc (119), Phu Tho (111), Nghe An (97), and Hai Duong (71). As of Tuesday evening, the number of Covid-19 patients in Vietnam has increased to over 10.70 million. The country now stands 12th among 227 countries and territories worldwide in the number of infections. On May 17, an additional 5,094 more patients recovered from the disease, raising the number of recoveries in the country to over 9.36 million. On Tuesday evening, four deaths related to Covid-19 was announced, total fatalities stayed at 43,071. By May 16, the country had injected more than 217 million doses of Covid-19 vaccines, including over … [Read more...] about Vietnam logs 1,785 new Covid-19 infections on Tuesday

At a meeting with U.N. Deputy Secretary-General Amina J. Mohammed in New York on May 16 (local time), the PM stressed that the year 2022 is of great significance as it marks the 45th anniversary of Vietnam’s U.N. membership. Appreciating the U.N.’s valuable contributions and support to Vietnam over the past more than four decades, the PM asked Amina to convey his invitation to Secretary-General Antonio Guterres and other U.N. leaders to visit Vietnam this year to foster multi-faceted cooperation between the two sides. Chinh reiterated Vietnam’s strong commitments to multilateralism and a world order based on international law and the U.N. Charter, as well as the country’s support for the U.N.’s central role in the global administration system, saying it needs global, all-people, and comprehensive approaches to tackle common challenges like epidemics and climate change. Vietnam backs enhancing relations between the U.N., parliaments of its member countries and the … [Read more...] about Vietnam to play more active role at U.N.: PM

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

The two countries have reached a new height of over USD 100 billion in two-way trade, Foote, who is also co-founder of the U.S.-Vietnam Trade Council (USVTC) and President and CEO of Bay Global Strategies, told the Vietnam News Agency's reporters on the sidelines of Prime Minister Pham Minh Chinh’s meeting with U.S. enterprises in New York on May 16. She highlighted the entrepreneurial spirit in Vietnam as well as its great workforce, better infrastructure and significant location in Asia as advantages for American firms doing business in the country. “Our companies very much appreciate the talents in Vietnam and working with the Vietnamese people,” she said. Foote also outlined several challenges facing U.S. investors which include burdensome administrative procedures in some areas, and supply chain and logistical difficulties which are not unique to Vietnam. “We're hoping as we come out of COVID-19, these things will smooth out,” she stated. Foote also hoped that U.S. firms … [Read more...] about American business community very optimistic about U.S.-Vietnam economic ties

The Ho Chi Minh City People’s Committee has set a goal to build at least 10 hectares of public parks across the metropolis in 2022, the Vietnam News Agency reported. The city will add at least 10 hectares of public parks and two hectares of green space, as well as plant and renovate 6,000 trees, this year, according to a plan recently issued by the municipal People’s Committee. Authorities in every district and Thu Duc City were tasked with making a list of land plots originally zoned for building public parks. If these land lots are currently leased for other purposes, the municipal Department of Natural Resources and Environment will suggest a road map to reclaim them to prepare for the park construction. The city administration also highlighted the addition of parks and green trees to housing development projects, as well as the expansion of land banks for public parks across the metropolis. District-level authorities will also be in charge of completing the database of … [Read more...] about Ho Chi Minh City to add at least 10ha of public parks this year