Infrastructure

HCMC to spend VND8 trillion more on anti-flooding projects The Saigon Times A motorcyclist wades through a heavily flooded street in HCMC after heavy rain. HCMC has plans to kick off 12 anti-flooding projects worth over VND8 trillion this year – PHOTO: VNA HCMC – The HCMC Department of Construction has sent a plan to the municipal government proposing that the city kick off 12 anti-flooding and environmental cleanup projects worth over VND8 trillion (US$348 million) in total this year. The 11 anti-flooding projects and one environmental cleanup project are scheduled for completion before 2025, according to deputy director of the HCMC Department of Construction Dang Phu Thanh. Thu Duc City has the highest number of projects, with three projects on Road No. 8 and Nguyen Duy Trinh and La Xuan Oai streets costing a total of over VND455 billion. HCMC has carried out a dozen anti-flooding projects in recent years, but many of them have lagged behind schedule. The city’s biggest anti-flooding project, which costs some VND10 trillion, has been 96% complete. However, it has been suspended since mid-November last year. The build-transfer contract for the project between Trung Nam Group's subsidiary Trung Nam BT 1547 Co., Ltd, the investor of the project, and the HCMC government, which was signed on November 18, 2019, expired on June 26, 2020, but the two sides have yet to sign an appendix to extend the deadline of the project. Therefore, the project has no legal foundation to continue. The tardiness in signing the appendix was attributed to the disagreement between the two sides over the payment method. Fast urbanization, an aging drainage system, the overexploitation of underground water and a large amount of garbage discharged into rivers and canals have made the city unable to address flooding-related problems. Professor Le Huy Ba, former chairman of the Science, Technology and Environmental Management Institute, said most anti-flooding …

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Geological survey, study contracts signed for La Gan offshore wind power project The Saigon Times A view of the virtual signing ceremony of the two geological survey and study contracts for the La Gan offshore wind power project - PHOTO: EMBASSY OF DENMARK IN VIETNAM HCMC – The La Gan Wind Power Development Corporation, the developer of the 3.5-GW La Gan offshore wind power project, on May 20 signed two contracts which cover major geological surveys and studies for the project with the Northern Center for Planning and Investigation of Marine Resources and Environment (CPIM), an agency under the Government, the Embassy of Denmark said in a statement. The La Gan wind farm off the coast of Binh Thuan Province would become one of the first large-scale offshore wind farms in Vietnam. Geophysical surveys and studies are crucial steps for offshore wind power projects to understand the seabed condition and advance the development of ground models and foundation designs. CPIM will engage a Danish sub-contractor--the Geological Survey of Denmark and Greenland (GEUS), under the Danish Ministry of Climate, Energy and Utilities--to carry out the two contracts. Under the La Gan geophysical survey campaign contract, CPIM and GEUS will collaborate to collect seabed data and samples to determine bathymetry, seabed features and subsurface geology. Meanwhile, they will conduct an assessment of geological conditions, marine habitats and marine usage, which are key considerations in offshore wind farm development under the La Gan geological study contract. At the contract signing ceremony, Ambassador of Denmark in Vietnam Kim H. Christensen said, “The signings signify both the seriousness and willingness of the project in making big investments and getting financially and technically ready to move forward once they obtain the license. It is a valid expectation that the project could be included in Vietnam’s national power development plan VIII soon, which will …

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Illustrative image (Photo: VNA) Hanoi (VNA) – The vietnam-briefing.com published by Dezan Shira & Associates - a consultancy firm on foreign investment in Asia - on May 6 run an article, emphasising that since the EU-Vietnam Free Trade Agreement (EVFTA) took effect in August 2020, Belgium has played a significant role in promoting trade and foreign investments into Vietnam. According to the article, major sectors that Belgian investors have particularly shown interest in is industrial zones, food and beverage, processing and manufacturing, pharmaceutical, and renewable energy. It noted that with increasing trade and investment between Belgium and Vietnam, Belgian investors have opportunities to invest in Vietnamese industries, favoring the economic and political landscape between the two countries. Over the past decade, trade and investment relations between Vietnam and Belgium have improved considerably. This has been attributed to Vietnam’s growing economy and the expansion and globalisation of some Belgian corporations. The article quoted Riccardo Benussi, Head of European Business Development of Dezan Shira & Associates, saying that more Belgian companies are looking to invest in Vietnam, especially with the implementation of the EVFTA and subsequent reduced tariffs. As of March 2021, Belgium has 78 investment projects in Vietnam, with a total registered capital of 1.1 billion USD, ranking 23rd among 131 countries and territories investing in Vietnam. On the other hand, Vietnam is Belgium’s 14th largest trade partner, with a trade value reaching approximately 707.55 million USD in 2020, up 6.7 percent compared to 2019. In the first seven months of 2020, due to the COVID-19 pandemic, Vietnam’s export value to Belgium totaled 1.4 billion USD, down 17.7 percent year-on-year. On the other hand, Vietnam imported 459 million USD worth of goods from Belgium, up 11.9 percent year on year. The article said these figures demonstrate that …

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