Vietnam needs over US$128 billion for power investment next 10 years A drone is used to inspect a power transmission system in Vietnam. The country will need an estimated US$128.3 billion for developing the power system in the next decade The Institute of Energy, under the Ministry of Industry and Trade, on February 22 continued to collect feedback over the plan from the relevant agencies. According to the plan, during the 10-year period, Vietnam will need to pour some US$12.8 billion on average into the power sector per year. The total investment for the following 15 years from 2031 to 2045 will be some US$192 billion, including some US$140 billion for power sources and US$52 billion for the grid. The draft zoning plan also revealed that Vietnam will continue to import electricity from China, Laos and Cambodia in the next 10 years. The State-run Vietnam Electricity Group is purchasing electricity from China through two 220kV power lines, with 1.5 billion kWh of power being bought annually during the 2016-2020 period. This northern neighboring market can sell up to 3,000 MW of electricity or more to Vietnam from now until 2030. Petrol prices rise under latest adjustment The Ministries of Industry and Trade and Finance revised petrol prices upwards as of 3pm on February 25, marking the first increase since the traditional Lunar New Year (Tet) holiday. The retail price of E5RON92 bio-fuel rose nearly 700 VND to 17,031 VND (0.74 USD) per litre at a maximum, while that of RON 95 increased over 700 VND to 18,084 VND per litre. Diesel 0.05S and kerosene, meanwhile, are now no more than 13,843 VND and 12,610 VND per litre, up by around 800 VND and 700 VND, respectively. According to the two ministries, the prices of petrol and oil in the global market have been rising strongly for 15 days, hence the adjustment. The two review fuel prices every 15 days to ensure domestic prices are in keeping with the global market./. Aquatic product …
High quality assets
It’s not just about the financing. Infrastructure needs to be well built
The Hanoitimes - Southeast Asian governments invest more as a share of total government expenditures than member countries of the OECD. Much of that spending goes for infrastructure. The delivery of services – such as clean water, reliable public transport, schools and hospitals – through economic and social infrastructure is among the most important functions of government. Resources must be well spent to ensure quality. People everywhere want good infrastructure, such as smooth and safe roads and timely and reliable trains that move passengers and freight across a wide range of destinations. They want clean water, reliable sanitation, easy-access broadband internet connectivity and electricity available 24/7. Well-managed and functional airports and seaports enable connection with the rest of the world, while schools and hospitals ensure well-being, including a healthy and well-equipped workforce. The delivery of services through economic and social infrastructure is among the most important functions of government and key to how citizens perceive the role and effectiveness of government. Illustrative photo. Source: www.macquarie.com Southeast Asian governments invest more as a share of total government expenditures (16.7%) than member countries of the Organization for Economic Co-operation and Development (OECD) (7.6%). Much of that spending goes for infrastructure, according to the ADB/OECD report Government at a Glance Southeast Asia 2019 . These infrastructure assets are largely provided by governments, including through state-owned enterprises and public private partnerships (PPPs). Southeast Asian countries increased spending on infrastructure by 1.5% between 2008-2016, reflecting in part governments’ ambitions to maintain growth and improve access. This compares to an investment decline of 1.8% in OECD countries over the same period. Yet, increasing infrastructure finance may not be enough. Resources must be well spent …
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Resilient homes on flood plains giving hope to at-risk families
The central region’s woes with natural calamities have badly affected locals’ way of life Just a few hours prior to the October 28 arrival of the strongest storm seen in Vietnam in the last 20 years, Bui Thi Chin’s family in Binh Son district of the central province of Quang Ngai was completing the final stages of preparation for the incoming threat. For the families of millions of people in other central coastal provinces, storms and floods have become a familiar part of their lives for many years. However, 2020 has brought disaster over disaster for the central region with some of the strongest storms ever experienced in recent weeks, on top of the difficulties that the global health crisis has brought in recent months. Chin said that when she learned of storm Molave’s approach to the mainland, she was so worried and could not sleep for several nights. It was projected that the eye of the storm would most likely be located over Quang Ngai. “The wind began to blow so fiercely from the afternoon. However, my family had promptly reinforced my home’s resistance and moved our belongings to the attic, so I feel safer. My husband and I will also be in the attic for the next few days because heavy rains can lead to flooding,” said Chin. The house of Chin’s family is one of more than 3,200 storm- and flood-resilient houses constructed in the central coastal provinces of Thanh Hoa, Quang Binh, Thua Thien-Hue, Quang Nam, and Quang Ngai jointly funded by the Green Climate Fund, the Vietnamese government, and the United Nations Development Programme (UNDP). The partnership aims to improve the resilience of vulnerable coastal communities to climate change-related impacts in the central Vietnam. Along with Quang Ngai, Quang Binh, Quang Tri, and Thua Thien-Hue have also been battered by persistent torrential rains, causing widespread flooding and landslides. Since October 5, prior to Molave’s arrival, nearly 150 people have been killed or gone missing, more than …
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