Just replaced fuel pump car wont start

The disbursed public investment capital last year was equivalent to 96.13 percent of the target set by the Prime Minister (Photo: VNA) Hanoi (VNA) - Public investment disbursement has been accelerated since the opening days of the year as it continues to be seen as an important driving force of economic growth this year, the Dau tu (Vietnam Investment Review) newspaper reported. In a report to the Government in early February, Minister of Planning and Investment Nguyen Chi Dung said that an estimated 452.41 trillion VND (19.6 billion USD) in investment capital was disbursed last year from the State budget, equivalent to 96.13 percent of the target set by the Prime Minister. 2019 disbursement, meanwhile, was equal to just 73.7 percent and 76.75 percent of the figures targeted by the National Assembly and the Prime Minister. The 2020 rate was the highest for many years, he said, describing it as the “sweet fruit” of breakthrough efforts by the Government, ministries, sectors, and localities to promote the disbursement of public funds . Disbursed capital was about 15 trillion VND in January, or 3.25 percent of the 461.3 trillion VND planned for the year by the Prime Minister. The disbursement pace was slower than expected but still much higher than the 0.95 percent recorded in January last year, according to the Ministry of Planning and Investment (MPI). It noted that, to accelerate disbursement, the allocation of State budget-sourced investment capital has been promoted since late 2020. As a result, over 412 trillion VND of planned capital had been assigned as of the end of January, equivalent to 89 percent of the PM’s target, the MPI said. While this is considered a positive figure, MPI is still concerned that the sum unallocated is relatively large, at more than 101 trillion VND. It pointed out that the 2021 public investment plan has been carried out while the medium-term public investment plan for 2021-2025 has yet to be approved. …

[Read more...] about Disbursement of public funds sped up to fuel growth

The Hanoitimes - Vietnam has been on way to pursue an energy transition that reduce carbon emission and develop renewable sources in an effort to combat climate change . Liquefied natural gas (LNG) has been considered a source of energy that is able to meet Vietnam’s rising power demand and clean enough in comparison with coal power which the country is advised to minimize from now on. Vietnam has been on way to pursue an energy transition that reduces carbon emission and develops renewable sources in an effort to combat climate change and there will be room in the country’s mix for fossil fuels as long as they are clean, a local expert has said. Dang Huy Dong, president of Vietnam’s Planning and Development Institute. Photo: MPI “Gas is by far the cleanest fossil fuel,” Dang Huy Dong, president of Vietnam’s Planning and Development Institute, said at the Future Energy Asia 2020 forum in Bangkok last month. Gas, particularly LNG, is the only meaningful solution for Vietnam to reduce emissions in the context that the potential of hydropower is almost exhausted while solar and wind power are not reliable enough, the Bangkok Post quoted Dong as saying. “Only gas could provide Vietnam with a practical energy supply, in particular LNG,” according to Dong, who is a former deputy minister of Planning and Investment. He attributed the choice of gas to falling fuel prices, improved efficiency and technologies. At the same time, the price of coal-fired power is rising due to supply and financial limitations. For the aforementioned reasons, Dong believes Vietnam needs to move away from coal to other sources, as China and many other countries are doing. “In the interests of environmental protection and sustainable development, more and more provinces in Vietnam are demanding a change from coal projects to LNG power projects,” he said. Vietnam’s power demand and the government’s choice Vietnam's energy sources. Data: …

[Read more...] about LNG – future of Vietnam’s energy

HCM City eyes 10 percent growth in export in 2021 Shrimps processed for export Ho Chi Minh City’s Department of Industry and Trade has set the target to export 48.19 billion USD worth of products in 2021, a year-on-year surge of 10 percent. Under its development plan for 2021 recently submitted to the municipal People’s Committee, the sector said import revenue is estimated at 56.47 billion USD for the whole year, up 11 percent against the previous year. Besides, it eyed to reel in more than 835.68 trillion VND (36.29 billion USD) from retail sales and services revenues in the year, up 10 percent year-on-year. The department said it will carry out necessary measures in a comprehensive fashion to branch out industry and trade, contributing to promoting economic recovery of the southern hub. Earlier, HCM City set a goal of boosting the export of its key products this year and beyond via trade promotion activities and assistance to enterprises. Head of the statistics office Huynh Van Hung said COVID-19 has been largely brought under control around Vietnam, resulting in the production sector exhibiting signs of recovery. Local enterprises, however, continue to face difficulties as many major trading nations are yet to open their markets. He noted that enterprises are in need of diverse and long-term support relating to information on importers of materials and fuel, new markets and partners, and domestic consumption stimulus measures. According to Nguyen Phuong Dong, Director of the municipal Department of Industry and Trade, despite facing myriad challenges, last year the city still saw five goods post export turnover in excess of 1 billion USD: computers-electronic products and components, with 17.8 billion USD; garment-textile 4.3 billion USD; footwear 2.2 billion USD; machinery-equipment-spare parts 2.2 billion USD; and other goods 6.9 billion USD. Together their export value accounted for 83.5 percent of the city’s total. Key export …

[Read more...] about VIETNAM BUSINESS NEWS FEB. 25