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The Power Development Master Plan 8 aims to mobilize all domestic and international resources for electricity development, ensuring a sufficient supply of electricity with increasingly high quality and reasonable electricity prices. Specifically, by 2030, the total installed power capacity of Vietnam will reach 137.2 gigawatts (GWs). Of which, coal-fired thermal power accounts for 26 percent; gas-fired thermal power 21 percent; hydroelectricity 18 percent; wind, solar, and other renewable energy 29 percent. In 2045, the total power capacity will nearly hit 276.7 GWs. Of which, coal-fired thermal power accounts for 18 percent; gas-fired power 24 percent; hydroelectricity 9 percent; wind, solar, and other renewable energy above 44 percent. Through the structure of the power source, it shows that the Power Development Master Plan 8 encourages the development of renewable energy, besides hydroelectricity, from about 13 percent in 2020 to nearly 30 percent in 2030, and 44 percent in 2045. Contributing opinions to the Draft National Power Development Plan 8, experts said that many economic and technical factors are difficult to determine. For example, the Covid-19 pandemic continues to develop complicatedly, possibly negatively affecting the supply and demand of the energy system in general and the power system in particular. Besides, the boom in investment registration for renewable energy projects, especially solar and wind power, requires a more appropriate approach in planning, designing, investing, and operating the power system. In particular, it is necessary to have a lucid, transparent, objective, and scientific mechanism to encourage the development of renewable energy. To be able to carry out well the Power Development Master Plan 8 in the current situation, the challenge is that the electricity demand is still growing at a high speed but the primary energy source is increasingly scarce. To ensure electricity supply until 2030, Vietnam is expected to …

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A high-tech greenhouse of a farmer in Chu Điện Commune, Lục Nam District, the northern province of Bắc Giang, who built it with preferential loans from the local goverment. — VNA/VNS Photo Trần Việt HÀ NỘI — Việt Nam’s agriculture sector is aiming to be among the 15 most developed countries in the world, in which the agricultural processing sector ranks among the top 10 countries by 2030. To realise the goal, the Government issued a resolution in 2019 on measures to encourage businesses to invest in effective, safe and sustainable agriculture as part of efforts to help the sector integrate globally. The Ministry of Agriculture and Rural Development (MARD) recently submitted to the Government a project of export promotion of agro-fishery products by 2030. The export turnover is expected to reach US$50-51 billion by 2025 and $60-62 billion in 2030. To implement the target, the MARD will review and propose policies for investment attraction from private and foreign investors into the agro-fishery product processing industry. For the last five years, there has been a wave of investment into agricultural production with 52,000 businesses, of which the firms directly participating in production hit 13,300, triple the figure of 2015. The businesses’ participation not only contributed improve the value of agricultural products but also helped farmers access international standards. In 2020 alone, 18 new factories for agro-product processing opened, a positive signal in improving Việt Nam’s agricultural sector. However, according to experts, although investment in agriculture has flourished in recent years with the participation of many new tycoons, it has not become a strong wave. Notably, the majority of agricultural enterprises are still small, of which 90 per cent are small and super small with capital of less than VNĐ10 billion (US$430,000) while the number of enterprises investing in high-tech agriculture is even more modest. …

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Brian Spence *Brian Spence The spectre of rising inflation haunts the Western world, very much blunting the joy over vaccine rollouts. In contrast, worry is building that Việt Nam is set to experience the opposite for the first time. Fears about deflation stem from the fact that consumer prices have been falling by about 0.2 per cent a month for almost half a year now. Year-over-year inflation didn’t even hit 1 per cent for the first month of 2021 when it had been over 6 per cent in the prior period. Signs of weakened demand, one of the prime causes of deflation, have been obvious. Everyone seems to be noticing how consumers aren’t buying as much as you would expect at present, defying the usual holiday season spending surge. Government figures suggest that growth in retail sales has halved from the pretty steady upticks of more than 20 per cent we’ve been seeing for a decade and more. A damming up of spending is one of the salient features of a deflationary environment and can contribute to a worsening “doom loop” of falling demand. Quite simply, if consumers expect prices won’t rise, and may even fall, why would they buy today? As you would expect, Harrison Spence Consulting has seen a huge influx of business in the last year as businesses look for ways to overcome the disruption caused by the pandemic. Increasingly though, our clients are seeking to deflect the potential impact of deflation too. Deflation defence The question of how to defend profitability is of course a huge concern amid blunted spending and pressure to lower prices to tempt consumers in. There have been financing issues for businesses to contend with too as the country’s banks tackle the bad debts on their balance sheets. Cleaning up bad debts is certainly a laudable aim, but tighter credit conditions right when businesses need support could seriously hamper their investment plans. Indeed, this may amount to withdrawing lifelines for firms that are …

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