Thao lives in Tan An, the capital of the Mekong Delta’s Long An province, 37 km from the proposed construction site of Long An-I, a 1,320 MW coal-fired power plant to be completed around 2020 and put into use in 2024.Though he has never lived near thermal power plants, he reads online articles about their environmental impact and is familiar with recent headline-making environmental disasters, including pollution from the Vinh Tan power plant in south-central Binh Thuan province. Like 15,166 others, Thao signed up with Stop Long An, an electronic petition on wakeitup.net started by an anonymous group of climate activists intent upon preventing the execution of the project and its 1,600 MW follow-up, Long An-II.He also worried about the effects of the plant’s toxic discharges on the surrounding land and water system, citing heavy metal poisoning and its impact on the food chain as his main concern. “It will destroy the rivers that serve as our source of water and … [Read more...] about Higlighting the downside of thermal power
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Vietnam-India strategic partnership reinforced
(VOVworld) - Vietnamese Minister of Public Security Tran Dai Quang on Tuesday met with Indian Foreign Minister Salman Khurshid during his working visit to India. Minister Khurshid expressed his hope that the two countries will continue to boost cooperation in software production technology, information security and safety, banking and transport infrastructure, and establishing a direct air route between Vietnam and India. Minister Quang said Vietnam has always considered India its close and faithful friend. The Vietnamese Government treasures India's "Look East" policy, which considers ASEAN an extremely important pillar and strongly supports the bloc's central role. Quang declared that Vietnam is willing to strengthen its comprehensive partnership with India and will create all possible conditions for Indian businesses to invest in Vietnam. Minister Quang expressed his hope that in his position, the Indian Foreign Minister will continue to pay attention to intensifying the … [Read more...] about Vietnam-India strategic partnership reinforced
Central Bank of Vietnam to buy ‘idle’ gold bars for forex reserve
The State Bank of Viet Nam (SBV) will buy gold bars lying idle with domestic individuals and organisations to increase Viet Nam's foreign exchange reserves as and when conditions permit. In a report sent to the National Assembly recently, SBV governor Nguyen Van Binh said the local gold market has remained stable for the past few years, although Viet Nam has been a gold importer and has the habit of holding gold. The central bank has not used the national foreign exchange reserves to stabilise the gold market since early 2014, while before 2011, the gold market used to be volatile, putting pressure on the currency market, account balances, monetary policies, and economic growth, Binh noted. Binh suggested that one of the key premises is to take long-term measures to mobilise domestic gold sources for socio-economic development. The country's tendency to use gold as a payment means has been curbed and a part of the idle gold kept by individuals and organisations has been used in … [Read more...] about Central Bank of Vietnam to buy ‘idle’ gold bars for forex reserve
India approves $12 bn S. Korean steel plant
NEW DELHI, Jan 31, 2011 (AFP) - India on Monday gave approval to South Korea's POSCO to build a giant $12 billion steel plant, in the country's biggest foreign investment deal since the launch of market reforms in 1991. The POSCO deal is a test case for foreign investors eager to enter the fast-growing Asian economy, but it also puts the government on collision course with villagers as farmland is cleared to make way for the plant. Environment minister Jairam Ramesh gave his conditional clearance for the 12-million-tonne capacity plant, initially agreed in 2005, to be built in the eastern state of Orissa. "Projects such as that of POSCO have considerable economic, technological and strategic significance for the country," Ramesh said, while stressing that "laws on environment and on forests must be implemented seriously". A spokesman for POSCO, South Korea's biggest steelmaker, told AFP in Seoul that the company welcomed the Indian government's approval and it would now go ahead with … [Read more...] about India approves $12 bn S. Korean steel plant
Indian bank to open branch in city soon
By Thuy Trieu - The Saigon Times Daily HCMC – Indian Overseas Bank, one of the ten biggest banks in India, has plans to upgrade its representative office in HCMC into a branch which will be the first Indian banking branch in Vietnam. Nupur Mitra, executive director of the bank, on Thursday came to Vietnam to work with the central bank over the regulatory approval process for the bank to open its branch here. At a meeting with enterprises in HCMC before flying to Hanoi to meet with the central bank, Mitra said her bank expected to upgrade its representative office in HCMC, which was opened in March 2008, to a branch in this year. She said Indian Overseas Bank saw a lot of potential for growth and expansion in Vietnam. With India pursuing the “Look East” policy and having signed the ASEAN Trade Agreement, the bilateral trade and investment relations between India and Vietnam is growing manifold, she said. “The banking services support is the immediate … [Read more...] about Indian bank to open branch in city soon