The latest draft of the eighth national power development plan in 2021-2030 shows considerable reductions in coal-fired power and increases in wind power, following Vietnam’s strong commitments at COP26. The eighth plan still has not been issued after many debates. The draft plan continues to be amended after Vietnam made strong commitments at COP26 on the goals and ambitions in obtaining Net Zero by 2050. Because of the commitments, the Ministry of Investment and Trade will have to reconsider the country’s electricity generation sources. In an operating scenario released by the Ministry of Industry and Trade (MOIT) in November, the total capacity of power sources to be installed by 2030 is 155,722 MW, lower by 24,305 MW than the 180,027 MW shown in March scenario. With the scenario, coal-fired electricity capacity would decrease by 6,694 MW, while LNG-fired electricity by 18,550 MW and Vietnam would increase electricity capacity from wind power. Onshore wind power …
President co-chairs Vietnam – Switzerland Business Forum
Vietnamese President Nguyen Xuan Phuc (standing) speaks at the forum. (Photo: VNA) Bern (VNA) - Vietnamese President Nguyen Xuan Phuc and his Swiss counterpart Guy Parmelin co-chaired a Vietnam - Switzerland Business Forum in Bern on November 26. Addressing the forum with the attendance of representatives from over 100 businesses of the two countries, the Vietnamese leader called on Swiss businesses to invest in Vietnam and partner with Vietnamese enterprises in areas where Swiss firms have strengths and Vietnam is giving priority to, especially in banking and finance, science and hi-technology, innovation and digital transformation. For his part, President Parmelin highlighted the huge potential for stronger cooperation between the two countries, and the necessity to have new cooperation framework s to encourage Swiss businesses to invest in Vietnam. The interest and commitment of businesses and representatives of the private sector of Switzerland at the forum …
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VIETNAM BUSINESS NEWS NOVEMBER 23
Demand for industrial, logistics estates at core of enquiries next year: Savills Demand for industrial and logistics estates in addition to ready-built factories and warehouses will continue to be the core of enquiries next year, according to an expert from property consultancy Savills Vietnam. “However, in terms of new trends, data centres and cold storage facilities are in demand and have gained traction in 2020 and 2021,” John Campbell, manager of Industrial Services at Savills Vietnam told the Vietnam Investment Review. “Next year, we expect this to continue, as Vietnam is now on the radar for hyperscale facilities.” Low-value industries are beginning to set up elsewhere in Southeast Asia as Vietnam no longer offers the same incentives, he said, adding that these industries such as textiles and furniture struggle to source affordable labour and land in Vietnam. However, foreign and high value-added investors remain bullish on Vietnam’s long-term growth, …
Top 10 most profitable enterprises in 2021 announced
Vietcombank, one of the top ten, is honoured at the ceremony annoucing the list. (Photo: VNA). Hanoi (VNA) - Vietnam Report JSC has honoured the top 10 enterprises in its 2021 PROFIT500 , a list of the 500 most profitable businesses in Vietnam this year. They include Samsung Electronics Thai Nguyen Limited Company, Viettel Military Industry and Telecoms Group, Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), and Vietnam Oil and Gas Group (PetroVietnam). The remaining enterprises are Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), Vietnam Technological and Commercial Joint Stock Bank (Techcombank), Hoa Phat Group, Vietnam Electricity (EVN), Vingroup, and Vietnam Dairy Products Joint Stock Company (Vinamilk). The Viettel Military Industry and Telecoms Group ranks among the top 10 of the 500 most profitable businesses in Vietnam this year. (Photo: Viettel) According to General Director of the Vietnam Report JSC Vu …
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