Boviet Solar begins factory construction without paperwork, fined $18,000

By Tri Duc
Thu, July 11, 2024 | 1:41 pm GMT+7

Boviet Hai Duong Solar Technology Co. Ltd., has been fined VND450 million ($17,700) for beginning work on a solar panel factory without an approved environmental impact report.

The company is a subsidiary of Boviet Solar Technology, which is backed by China-headquartered new energy business Boway.

According to a July 4 decision issued by Vietnam's Ministry of Natural Resources and Environment, the company was found to have completed 80% of the 5.9-hectare production line No.1, 50% of a 1,814-square meter chemicals warehouse and other tasks related to the solar panel factory in northern province of Hai Duong.

Boviet Solar Technology factory in Bac Giang province, northern Vietnam. Photo courtesy of the firm.

Boviet Solar Technology factory in Bac Giang province, northern Vietnam. Photo courtesy of the firm.

In addition to the fine, the firm has been prohibited from project construction activities for nine months.

This is not the first fine that Boway-backed companies in Vietnam have had to pay.

In January 2015, February 2018 and July 2023, Boviet Solar Technology Co. Ltd, was fined VND290 million ($11,407), VND440 million, and VND1.89 billion, respectively, for several environmental violations.

These included transferring waste to other companies without sufficient waste treatment capacities and disposing wastewaster not meeting environmental requirements.

In August 2023, Boway signed an agreement to lease 20 hectares of land in Hai Duong province’s Cong Hoa Industrial Park for a $350 million project – a factory manufacturing photovoltaic panels, solar energy conversion modules, high-tech alloy strip plates and other items.

In November 2023, Boviet Solar Technology Co., Ltd., based in the neighboring province of Bac Giang, received approval for a $120 million 20-hectare project at the Cong Hoa Industrial Park in Hai Duong province. Employing around 1,000 people, the project was to manufacture solar cells and solar energy conversion modules totaling 3 GW a year, all for export.

According to the approval granted then, the factory was to become operational within 18 months of receiving the investment certificates and run until April 2058.

In April 2024, Boviet Solar Technology Co. Ltd. said it would invest $294 million in a photovoltaics factory in Pitt County, North Carolina, the United States. The facility is expected to have an output of 2 GW of solar panels and 2 GW of PV cells annually.

Boviet Solar said that the project, featuring two phases, will be its first manufacturing facility in America and the second globally, following its successful track record of photovoltaics cell and module production in Vietnam.

Comments (0)
  • Read More
S Korea’s Lotte begins building $34 mln cold logistics center in Vietnam

S Korea’s Lotte begins building $34 mln cold logistics center in Vietnam

Lotte Global Logistics Vietnam, under South Korean chaebol Lotte, kicked off the construction of a $34 million cold chain center in the southern province of Dong Nai on Thursday.

Industries - Thu, March 20, 2025 | 1:53 pm GMT+7

Vietnam should phase out tax levy on sugary drinks: US-ASEAN Business Council

Vietnam should phase out tax levy on sugary drinks: US-ASEAN Business Council

Vietnam should phase out any excise tax impositions on sugary and alcoholic drinks, the US-ASEAN Business Council (USABC) suggested.

Economy - Thu, March 20, 2025 | 11:02 am GMT+7

Vietnam gov't considers approving SpaceX's Starlink satellite internet services

Vietnam gov't considers approving SpaceX's Starlink satellite internet services

The Ministry of Science and Technology has proposed the Vietnamese Government to approve SpaceX's Starlink satellite internet services in Vietnam.

Economy - Thu, March 20, 2025 | 10:53 am GMT+7

Singapore national becomes new chairman of Vietnam conglomerate Bamboo Capital

Singapore national becomes new chairman of Vietnam conglomerate Bamboo Capital

Tan Bo Quan (Andy), a Singapore national, on Wednesday was elected chairman of Bamboo Capital Group for the 2020-2025 term, succeeding Kou Kok Yiow, who passed away due to a heart attack on March 8.

Bamboo Capital - Thu, March 20, 2025 | 8:47 am GMT+7

Vietnam's stock market watchdog warns of fake securities business scams targeting investors

Vietnam's stock market watchdog warns of fake securities business scams targeting investors

A growing trend in the securities market involves firms posing as authorized securities companies to trick investors into making deposits into accounts, according to a major alert released by the State Securities Commission of Vietnam (SSC) on Wednesday.

Southeast Asia - Thu, March 20, 2025 | 7:08 am GMT+7

Vietnam will see fastest economic growth in Southeast Asia: US-ASEAN Business Council chief

Vietnam will see fastest economic growth in Southeast Asia: US-ASEAN Business Council chief

Vietnam will be a country with the fastest economic growth in Southeast Asia, said Ted Osius, former U.S. Ambassador to Vietnam and now president cum CEO of the US-ASEAN Business Council (USABC).

Economy - Wed, March 19, 2025 | 10:11 pm GMT+7

Private sector development, institutional overhaul to lever prosperity: Vietnam's Party chief

Private sector development, institutional overhaul to lever prosperity: Vietnam's Party chief

Vietnam is expected to enter the group of upper-middle-income nations, with per capita income topping $5,000 later this year, Party General Secretary To Lam projected in his article titled “Private Sector Development – A Lever for Prosperous Vietnam” published on Monday.

Economy - Wed, March 19, 2025 | 9:11 pm GMT+7

Thailand develops AI to detect financial fraud

Thailand develops AI to detect financial fraud

Thailand is rapidly developing artificial intelligence (AI) for fraud detection, according to SAS Institute, a global leader in the data and AI field.

Southeast Asia - Wed, March 19, 2025 | 8:56 pm GMT+7

Thailand shortens visa-free stay to 30 days

Thailand shortens visa-free stay to 30 days

The period of visa-free stays in Thailand is set to be reduced from 60 days to 30 days in an effort to curb the risk of illegal businesses exploiting the visa exemption scheme, according to the Ministry of Tourism and Sports.

Southeast Asia - Wed, March 19, 2025 | 8:53 pm GMT+7

Work starts at electronics firm Lite-On’s $690 mln project in Vietnam

Work starts at electronics firm Lite-On’s $690 mln project in Vietnam

Taiwan-based Lite-On Technology Corporation, a world's leading provider in optoelectronics and power management, kicked off the construction of its $690 million factory first phase in Vietnam on Tuesday.

Companies - Wed, March 19, 2025 | 5:20 pm GMT+7

Trump Organization's $1.5 bln project in northern Vietnam expected to complete in 2027

Trump Organization's $1.5 bln project in northern Vietnam expected to complete in 2027

A $1.5 billion high-end golf course, sports, eco-tourism and urban complex project, invested by the Trump Organization in the northern Vietnam province of Hung Yen, is expected to complete in March 2027 to serve the APEC Economic Leaders’ Meeting.

Real Estate - Wed, March 19, 2025 | 3:18 pm GMT+7

New context leads to 'unprecedented' investment opportunities in Vietnam: experts

New context leads to 'unprecedented' investment opportunities in Vietnam: experts

"The new context" is openning up unprecedented investment opportunities in Vietnam, experts highlighted at a workshop hosted by The Investor in Hanoi on Wednesday.

Economy - Wed, March 19, 2025 | 3:05 pm GMT+7

Shinhan Bank to introduce QR pay service to Lotte Mart Vietnam

Shinhan Bank to introduce QR pay service to Lotte Mart Vietnam

Shinhan Bank Vietnam Limited (Shinhan Bank) will launch its QR Pay service across all Lotte Mart Vietnam stores on Saturday.

Banking - Wed, March 19, 2025 | 12:04 pm GMT+7

UK Jadestone Energy submits field development plan for gas fields offshore Vietnam

UK Jadestone Energy submits field development plan for gas fields offshore Vietnam

Jadestone Energy, upstream production and development company listed on the London Stock Exchange as JSE, has submitted a field development plan (FDP) for the Nam Du/U Minh discoveries offshore southwest Vietnam.

Energy - Wed, March 19, 2025 | 10:31 am GMT+7

Vietnam’s steelmaker HSG pivots to building materials retail amid gloomy industry outlook

Vietnam’s steelmaker HSG pivots to building materials retail amid gloomy industry outlook

Hoa Sen Group (HoSE: HSG), a leading manufacturer and exporter of steel sheets in Vietnam, plans to shift its focus to a furniture and building materials retail chain amid challenging industry conditions.

Companies - Wed, March 19, 2025 | 10:05 am GMT+7

Vietnam’s benchmark VN-Index could reach 1,500 points in 2025: Kafi Securities CEO

Vietnam’s benchmark VN-Index could reach 1,500 points in 2025: Kafi Securities CEO

With support from factors such as the prospect of Vietnam’s market status upgrade and foreign capital inflows, the VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), could reach 1,500 points this year, said Trinh Thanh Can, CEO of Kafi Securities JSC.

Finance - Wed, March 19, 2025 | 9:27 am GMT+7