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Vietnam has pulled in a total of USD5.46 billion worth of foreign direct investment (FDI) in the first two months of this year, down 15.6%, reported the Ministry of Planning and Investment. Of the sum, USD3.31 billion came from 126 newly-licensed projects, down 33.9% on-year. Meanwhile, the remainder of USD1.61 billion was from the capital rise of 115 existing projects, up 2.5 times higher than the same time last year. Vietnam attracts USD5.46-billion in FDI in the first two months of this year During the two-month phase, foreign investors poured capital in 17 sectors, with processing and manufacturing topping with over USD3 billion, accounting for 55.7%. The runners-up are power production and distribution with USD1.44 billion (26.5%), real estate USD485 million and science-technology roughly USD153 million. Among 46 countries and territories investing in Vietnam between January and February, Japan took the lead with USD1.64 billion, or 30% of the total. Singapore came next with USD1.07 billion (19.6%) and South Korea third with USD1.05 billion (19.3%). The southern city of Can Tho attracted the biggest FDI between January and February with USD1.31 billion, making up 24.2% of the total. It was followed by Hai Phong City USD918 million or 16.8 percent. Bac Giang came third with nearly USD573 million. Vietnam saw total FDI disbursement of roughly USD2.5 billion during the phase, up 2% on-year. …

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The Hanoitimes - The stoppage of licensing of new solar farm aims to make further move in building policies on FiT scheme and to prepare for better power transmission capacity. Vietnam’s Ministry of Industry and Trade (MOIT) has urged local governments and state-owned Vietnam Electricity (EVN) to stop licensing new solar power projects until further notice although the country is in dire need of power. A solar farm Under Circular 9608/BCT-DL, the ministry asked cities and provinces and EVN to suspend new approvals for large-scale PV projects under the Feed-in-Tariff (FiT) scheme. The ministry’s decision was made in the context that around 8,935 megawatts (MW) of utility-scale solar capacity had been already approved for development across the country over the past two years. Some 4,500 MW of those projects had become operational by the end of last June when the first phase of the country’s FiT scheme expired. According to a government notice dated on November 22, the FiT scheme will be applied for current projects and those becoming operational in 2020. The MOIT is now working with ministries and agencies to complete the draft of a new auction mechanism. Earlier this month, Deputy Prime Minister Trinh Dinh Dung said that Vietnam will need to add around 8,000 MW of new generating capacity per year to keep up with rising electricity demand, which is growing at an annual rate of around 10%. In another move, in November, the government announced that selling prices of solar power applied from July 1, 2019 in Vietnam would be calculated via public action. Accordingly, the encouraging prices would be applied for only projects that have signed the power purchase agreement (PPA) and are put into operation in 2020 while the remaining projects (the new ones) would go through public auctions to determine the selling prices. This move is aimed to lower the solar power prices which current stand at 9.8 US cents/kWh applied for solar …

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Great power comes from a small grain of rice On January 26, Vinaseed's shipment of 60 tonnes of premium fragrant rice, imported by Longdan in the UK, hit the shelves of the supermarket chain with a retail price of up to £15.5 (VND465,000) per 10 kg. Longdan is the first enterprise to import rice from Vietnam after the UK - Vietnam Free Trade Agreement (UKVFTA) took effect. In the near future, there will be many enterprises importing Vietnamese rice under the agreement. Previously, on January 13, the first batch of 1,600 tonnes of rice, opening the 2021 export season of the Trung An Hi-tech Farming Joint Stock Company, was sent to Singapore and Malaysia at a price that could not be better, of up to US$750 per tonne. Pham Thai Binh, Director General of Trung An Hi-Tech Farming JSC, said the two types of rice exported in the shipment were Jasmine 85 fragrant rice and Huong Lai fragrant rice; of which, 450 tonnes of Jasmine 85 went to Singapore at US$680 per tonne and 1,150 tonnes of Huong Lai fragrant rice delivered to customers in Malaysia for US$750 a tonne. In addition to the above shipment, Trung An JSC also had an order of more than 2,000 tonnes exported to Germany, continuing to make effective use of the EU-Vietnam Free Trade Agreement that took effect last year. Those are the two shipments that successfully opened the new year for Vietnamese rice, with an expectation of more miracles in 2021 than the previous year. Rice exports in 2020 reached about 6.15 million tonnes, worth US$3.07 billion. Although rice exports decreased by about 3.5% compared to 2019, mainly to ensure national food security, export value increased by 9.3%. The average export price for the whole year is estimated to have been US$499 a tonne, an increase of 13.3% compared to 2019. Vietnamese rice prices have surpassed Thailand, rice has become a prized agricultural commodity with positive growth and is constantly being prioritised in the world market. Looking at the achievements …

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