Vietnam to buy electricity from 7 Laos wind power projects

Vietnam to buy electricity from 7 Laos wind power projects

Seven wind power projects in Laos with a total capacity of 4,149 MW are looking to sell electricity to Vietnam via transmission lines in the latter's central province of Quang Tri.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

No state intervention for preferential credit to SOEs: Vietnam finance ministry

No state intervention for preferential credit to SOEs: Vietnam finance ministry

The Vietnamese government does not interfere with the banking system to provide preferential loans to state-owned enterprises (SOEs), the Ministry of Finance has clarified.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Internal rate of return of factories’ electricity generation must not exceed 12%

Internal rate of return of factories’ electricity generation must not exceed 12%

The internal rate of return (IRR) of power factories’ electricity generation must not exceed 12%, according to a draft circular issued by the Ministry of Industry and Trade on the formula used to determine electricity generation prices.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Offshore wind, LNG-fired power projects unlikely to become operational before 2030: official

Offshore wind, LNG-fired power projects unlikely to become operational before 2030: official

It is unlikely that offshore wind power and LNG-fired power projects become operational before 2030, said Hoang Tien Dung, head of the Electricity & Renewable Energy Authority.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam FTAs cover 60 economies, 90% of global GDP: minister

Vietnam FTAs cover 60 economies, 90% of global GDP: minister

Vietnam has 15 free trade agreements (FTAs) operational and one pending parliamentary approval, covering more than 60 economies and accounting for nearly 90% of global GDP, said a senior official.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Trade ministry tasked with leading Vietnam negotiations for market economy status

Trade ministry tasked with leading Vietnam negotiations for market economy status

The Ministry of Industry and Trade has been asked to establish a working group for cooperating with the U.S. to have Vietnam achieve "market economy" status.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam lacks legal framework to incentivize rooftop solar energy for self-consumption: ministry

Vietnam lacks legal framework to incentivize rooftop solar energy for self-consumption: ministry

The Ministry of Industry and Trade says rooftop photovoltaic solar power works meant for self-consumption only are yet to be incentivized because a relevant legal framework does not exist.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam gov’t requests early completion of direct power purchase mechanism

Vietnam gov’t requests early completion of direct power purchase mechanism

The Vietnamese government has asked the Ministry of Industry and Trade to complete soon the long-delayed direct power purchase agreement (DPPA) mechanism between renewable energy suppliers and major consumers.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

State utility EVN cannot implement offshore wind power projects: ministry

State utility EVN cannot implement offshore wind power projects: ministry

Vietnam’s current legal framework does not allow state utility Vietnam Electricity (EVN) and other domestic companies to implement offshore wind power projects, according to the Ministry of Industry and Trade.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Redo draft deployment proposal for national power plan: Deputy PM

Redo draft deployment proposal for national power plan: Deputy PM

Deputy PM Tran Hong Ha has asked the Ministry of Industry and Trade to redo its deployment proposal for the national power development plan VIII (PDP VIII) towards making it more comprehensive.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam plans to raise green hydrogen output

Vietnam plans to raise green hydrogen output

Vietnam plans to expand its annual hydrogen output produced by renewable energy to 100,000-200,000 tons in 2030 and 10-20 million tons in 2050, according to a draft strategy released by the Ministry of Industry and Trade.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Samsung helps apply smart factory model in central Vietnam

Samsung helps apply smart factory model in central Vietnam

South Korean electronic giant Samsung will help apply the smart factory model in the central region, starting with Danang city, following its successful deployment in the northern and southern regions.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam needs financial mechanism for power development: ministry

Vietnam needs financial mechanism for power development: ministry

The Ministry of Industry and Trade has proposed the government assign the Ministry of Finance to develop a financial mechanism to mobilize capital for power development under the Power Development Plan VIII (PDP VIII).

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam targets 118 mln tons of bauxite a year in minerals exploitation plan

Vietnam targets 118 mln tons of bauxite a year in minerals exploitation plan

Vietnam plans to exploit 114.5 million tons of bauxite yearly in 2021-2030 and increase this to 118 million tons a year in 2031-2050, the Ministry of Industry and Trade announced Wednesday.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam spends $3.5 bln on smartphone imports in 2022

Vietnam spends $3.5 bln on smartphone imports in 2022

Vietnam spent $3.5 billion on importing smartphones in 2022, with iPhones accounting for the biggest portion of $1.61 billion, or 46.05% of the total.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Retail prices of gasoline, oil in Vietnam down

Retail prices of gasoline, oil in Vietnam down

Retail prices of gasoline and oil in Vietnam went down by VND300-750 ($0.01-0.03) per liter on Tuesday, amid the fall of global prices for kerosene and diesel oil and small fluctuations of gasoline prices.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam gasoline prices up, oil down

Vietnam gasoline prices up, oil down

Retail gasoline prices in Vietnam increased by VND540-620 ($0.03) per liter on Monday after a hike last month, while the prices of oil went down by nearly VND1,000 ($0.04).

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Maximum average retail electricity price increases 28%

Maximum average retail electricity price increases 28%

The average retail electricity price excluding VAT was increased to minimum VND1,826.22 and maximum VND2,444.09 ($0.1) from last Friday, according to a decision signed by Deputy Prime Minister Le Minh Khai.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

AES okayed to build $1.8 bln LNG-to-power plant in Binh Thuan

AES okayed to build $1.8 bln LNG-to-power plant in Binh Thuan

American energy corporation AES officially received in-principle approval for its 2.25-gigawatt Son My 2 combined cycle gas turbine power plant in the south-central province of Binh Thuan on Sunday, with an investment of $1.8 billion.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Nghi Son oil refinery resumes full capacity on Sunday

Nghi Son oil refinery resumes full capacity on Sunday

The Nghi Son oil refinery in central Vietnam completed repairs last Friday and resumed full capacity from Sunday afternoon, in line with the request of Minister of Industry and Trade Nguyen Hong Dien.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Nghi Son refinery must fix technical issues, resume full capacity by Sunday: minister

Nghi Son refinery must fix technical issues, resume full capacity by Sunday: minister

Nghi Son Refinery and Petrochemical Complex must fix its technical issues and resume full capacity by Sunday, Minister of Industry and Trade Nguyen Hong Dien made the request while working with the complex on Thursday.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Nghi Son refinery output may fall 25% due to technical issues

Nghi Son refinery output may fall 25% due to technical issues

Nghi Son Refinery and Petrochemical complex in Thanh Hoa province may have its output reduced by 20-25% in the first 10 days of January due to technical issues at its residue fluid catalytic cracking (RFCC) section.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam trade turnover set to exceed $732 bln this year

Vietnam trade turnover set to exceed $732 bln this year

Vietnam’s trade turnover could grow 10% year-on-year to a new record of over $732 billion this year, the Ministry of Industry and Trade said.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Japanese firm Toda eyes floating offshore wind power projects in Vietnam

Japanese firm Toda eyes floating offshore wind power projects in Vietnam

Japan’s Toda Corporation is looking at the prospect of setting up wind meters in the sea off the central coastal province of Binh Thuan to prepare for floating offshore wind power projects using capital from the Japanese government.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Industry ministry appoints new deputy minister

Industry ministry appoints new deputy minister

The Prime Minister has appointed Phan Thi Thang, vice chairwoman of the Ho Chi Minh City People's Committee, as a Deputy Minister of Industry and Trade.

Politics - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam needs to invest $517 bln in energy in 2021-2050

Vietnam needs to invest $517 bln in energy in 2021-2050

Vietnam needs to invest VND12,338 trillion ($517 billion) in energy in the basic scenario for 2021-2050, including 2.8% for coal, 32.6% for oil-gas, and 64.6% for electricity, according to a draft plan on national energy in 2021-2030, with vision until 2050.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

EuroCham co-hosts green economy forum & exhibition

EuroCham co-hosts green economy forum & exhibition

EuroCham and the Ministry of Industry and Trade will host the Green Economy Forum & Exhibition (GEFE) 2022 in Ho Chi Minh City from November 28-30.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam to increase coal imports in 2025-2035: ministry

Vietnam to increase coal imports in 2025-2035: ministry

Vietnam’s coal imports are forecast to increase to meet industrial production demand, according to a draft strategy on developing the domestic coal industry compiled by the Ministry of Industry and Trade (MoIT).

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Quality, capacity hamper wind farms in Gia Lai

Quality, capacity hamper wind farms in Gia Lai

Five completed wind power projects in Gia Lai cannot start commercial operations due to some quality issues and lower-than-expected electricity transmission capacity in the Central Highland province.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7