Hau Giang province looks to add $142 mln wind farm to national plan
Vietnam’s Hau Giang province is seeking to add the VND3.46 trillion ($141.7 million) Long My 2 wind power plant project to the national power development plan (PDP VIII).
In a letter sent to the Ministry of Industry and Trade, authorities from the Mekong Delta province said the 100-MW project, covering 9.89 hectares in Long My district, does not conflict with the protection forests or other projects.
The project is invested by Hong Kong-based Envision Energy (Hong Kong) Limited, and a survey was approved for processing in July 2022.
Local authorities noted the inclusion of the project in PDP VIII would facilitate its deployment. Hau Giang has stable and strong winds and low impacts from hurricanes, they highlighted.
The project will help fulfill the power demand of the province and reduce dependence on electricity transmitted from other areas. It would also serve the rising demand in Long My district and Vi Thanh town, the provincial economics hubs, they added.
On May 15, 2023, Prime Minister Pham Minh Chinh issued Decision No. 500/QD-TTg approving the PDP VIII for 2021-2030 with a vision to 2050. It features 21.8 GW of onshore wind power.
The plan mentions that Vietnam has the technical potential of generating 600,000 MW from offshore wind power. The target is to develop 6,000 MW of offshore wind power until 2030 to serve the domestic market and move towards 70,000-91,500 MW by 2050.
Another goal is to develop offshore wind power and renewable energy of 15,000 MW by 2035 and 240,000 MW by 2050 from green energy such as hydrogen and ammonia.
- Read More
Korea industrial giant Doosan's Vietnam unit earns $29 mln profit in 2023
Doosan Enerbility Vietnam Co., Ltd., the Vietnamese unit under South Korean industrial giant Doosan, earned a net profit of KRW39.65 billion ($29.11 million) in 2023.
Companies - Fri, May 3, 2024 | 3:19 pm GMT+7
PM requests urgent action to prevent cross-ownership, manipulation of credit institutions
Prime Minister Pham Minh Chinh has ordered the Ministry of Public Security to coordinate with the State Bank of Vietnam (SBV) to take urgent action to prevent and deal with cross-ownership and manipulation at credit institutions, ensuring system safety and financial-monetary security.
Banking - Fri, May 3, 2024 | 2:46 pm GMT+7
Samsung Electro-Mechanics to build new factory in Vietnam
Samsung Electro-Mechanics (SEM), the semiconductor and camera module arm of South Korea chaebol Samsung, is set to build a new factory in Vietnam.
Industries - Fri, May 3, 2024 | 10:19 am GMT+7
Stock market liquidity forecast to pick up at end-Q2
Real estate investment cash flow remains limited, but money flowing into stocks is likely to be positive at the end of the second quarter, said Dinh The Hien, director of the Institute of Informatics Research & Applied Economics.
Finance - Fri, May 3, 2024 | 10:14 am GMT+7
Ca Mau company director faces legal proceedings for illegal invoice trading
Police in the southernmost province of Ca Mau have launched legal proceedings against Dang Quoc Viet, who established three companies to illegally trade 350 invoices for VND130 billion ($5.12 million).
Society - Fri, May 3, 2024 | 9:00 am GMT+7
IMF makes new recommendations for Indonesia’s economy
The International Monetary Fund (IMF) has given some comments on Indonesia’s economy as the country is undergoing a government transition from President Joko Widodo to President-elect Prabowo Subianto.
Southeast Asia - Fri, May 3, 2024 | 8:40 am GMT+7
Indonesia aims at three-fold increase in EV sales this year
The Indonesian government has set a target for the sales of battery-based electric cars to reach 50,000 units in 2024.
Southeast Asia - Fri, May 3, 2024 | 8:36 am GMT+7
Thailand's economy grows 1% in first quarter
The Bank of Thailand estimates that the country grew by just 1% in the first quarter on both a quarterly and annualised basis, reported the Bangkok Post.
Southeast Asia - Fri, May 3, 2024 | 8:35 am GMT+7
Thailand aims for 5% growth in future food exports
Thailand is targeting future food export growth of 2-5% this year, driven by the global economic recovery and sustainability trends.
Southeast Asia - Fri, May 3, 2024 | 8:34 am GMT+7
Malaysia asserts pioneering role in halal industry
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Southeast Asia - Fri, May 3, 2024 | 8:33 am GMT+7
Indonesia, Malaysia step up defence cooperation
Indonesian Defence Minister Prabowo Subianto and his Malaysian counterpart, Mohamed Khaled Nordin, discussed opportunities for stronger defence cooperation between the two countries at their meeting on Wednesday in Jakarta.
Southeast Asia - Fri, May 3, 2024 | 8:08 am GMT+7
HCMC needs 50,000 apartments per year to meet demand: Savills
Ho Chi Minh City will need about 50,000 new apartments each year to meet demand, with 60-70% in the affordable segment, but current supply is falling way short, according to Savills Vietnam.
Real Estate - Fri, May 3, 2024 | 8:00 am GMT+7
Vietnamese retail majors set for prosperous year after robust Q1
Vietnamese retail majors have reported Q1/2024 profits several times higher year-on-year or turned losses into profit after purchasing power recovered significantly during Tet (Lunar New Year) holiday, market observers say.
Companies - Thu, May 2, 2024 | 10:21 pm GMT+7
Vietnam assigns vice chairman to take charge of parliament
National Assembly standing Vice Chairman Tran Thanh Man has been tasked with running the national parliament after Chairman Vuong Dinh Hue was dismissed from his position.
Politics - Thu, May 2, 2024 | 7:37 pm GMT+7
Vietnam investment environment favorable for strategic M&A opportunities: KPMG
With inflation under control, projected growth of 5.8% and public debt kept manageable this year, Vietnam’s investment environment offers strategic opportunities, especially in M&A, says audit and consulting firm KPMG.
Economy - Thu, May 2, 2024 | 4:59 pm GMT+7
PV Gas sees Q1 net profit go down 26% to $99 mln
PV Gas, Vietnam’s largest dry gas and LPG supplier, earned consolidated net profits of VND2,511.66 billion ($98.96 million) in Q1/2024, down 26.5% year-on-year.
Companies - Thu, May 2, 2024 | 3:38 pm GMT+7