However, even with the latest feed-in-tariff (FIT) increase approved by the Prime Minister, the rates are lower than in other ASEAN countries, they add. The Prime Minister approved the amendment and revision of the wind tariffs as per Decision No. 37/2011/QD-TTg issued on September 10 on support mechanisms for the development of wind power projects in Vietnam. Under the revision, the FIT for wind power projects will be increased to 8.5 US cents/ kWh for onshore and 9.8 US cents/kWh for offshore respectively. “The higher FIT is a significant and especially important signal for all market actors to further invest into the wind power market in Vietnam,” German international development agency GIZ’s Energy Support Programme wrote in a statement sent to VnExpress International. As of now, Vietnam has just 200 MW of installed wind power capacity and another 100 MW is under construction, according to GIZ. Due to Vietnam’s constantly growing need for energy and its … [Read more...] about New tariffs could recharge Vietnam’s wind power projects
Vietnam investors
French President hails Vietnam’s increasing role in international arena
Vietnamese Ambassador to France Nguyen Thiep presents his credentials to French President Emmanuel Macron. (Photo: VNA) Paris (VNA) – French President Emmanuel Macron hailed Vietnam’s increasing role in the region and the world while hosting a reception on August 31 for Vietnamese Ambassador to France Nguyen Thiep, who came to present his credentials. Macron laid stress on the two countries’ similarities in benefits and stance in regional and global issues while expressing his hope to enhance Francophone cooperative ties with Vietnam. He affirmed to pay a visit to Vietnam next year. Ambassador Thiep, for his part, underlined that the France visit by General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong in March 2018 opened a new period in the Vietnam-France strategic partnership. Besides deepening the collaborative relations in the fields of economy-trade and security-defence, and Francophone, the visit boosted bilateral … [Read more...] about French President hails Vietnam’s increasing role in international arena
Transparent incentive policies needed to lure more foreign investors into Vietnam
The Hanoitimes - Lawmakers should detail conditions, criteria and procedures for investors to benefit the country’s investment incentives, aiming to ensure the implementation of the policy more transparently and effectively. According to the Chamber of Commerce and Industry of Vietnam (VCCI), the government has so far issued some investment preferential policies, but it hasn’t detailed conditions, criteria and procedures to enjoy the incentive treatment. This fact has caused difficulty for firms in getting certification of beneficiaries. Vietnam will review 30 years of FDI attraction As a result, preferential policies do not work and discourage those who want to invest in the areas that are encouraged, VCCI noted. VCCI has recently sent the proposal to the National Assembly’s Economic Committee after receiving recommendations from associations of enterprises, the business community and investors. According to Kim Heung Soo, chairman of the Korea … [Read more...] about Transparent incentive policies needed to lure more foreign investors into Vietnam
Vietnam cracking down on use of crypto currency
(VEN) - The crypto currency fever is hitting investors not only in developed countries but also in Vietnam. Although Vietnamese law bans crypto currency exchanges, many people in the country continue investing in this highly risky business. Demonstrating against crypto currency fraud Fear and greed In early April, dozens of people rushed to the headquarters of the Modern Tech Corporation (MTC) in Ho Chi Minh City to claim their money back. MTC had sold iFan and Pincoin – a crypto currency – to about 32,000 people. After investors spent VND15 trillion buying iFan and Pincoin, MTC disappeared with all the money, without paying any interest or principal. iFan investors said MTC cheated them when telling them that iFan is a prestigious crypto currency from Singapore, which could be used to gain naturalized status in the US, to pay with it like a credit card, and/or have it listed on the US Nasdaq stock exchange. MTC promised a payback rate of 48 percent upward and … [Read more...] about Vietnam cracking down on use of crypto currency
Vietnamese investors snap up land in earmarked ‘special economic zones’
Land prices have shot up on Vietnam’s largest island Phu Quoc following news that the government is planning to turn it into a Special Economic Zone (SEZ). The current land prices on the island are now about 10 times higher than before Vietnam’s traditional new year, which fell in February, local investors said. A square meter of land on the island can now fetch from VND20-60 million ($875 to $2,625), the Vietnam Real Estate Agency (VREA) said. Shophouses are considered hot properties on Phu Quoc, with prices ranging from VND25-50 million per square meter, up around 5-7 percent from recent months, the VNREA said. The property market is buzzing on Phu Quoc, with thousands of billboards advertising plots strewn across the island, and authorities have reported an unprecedented number of transactions each day. “This land rush is getting out of hand for local authorities,” said Dinh Khoa Toan, chairman of Phu Quoc District. Property fever has also hit two other areas … [Read more...] about Vietnamese investors snap up land in earmarked ‘special economic zones’