Ocec power outage

The Ministry of Industry and Trade (MoIT) has consulted the Government not to include 14,120 MW of coal-fired power in the national power master plan (PDP8). — Photo ndh.vn The Ministry of Industry and Trade (MoIT) has consulted the Government not to include 14,120 MW of coal-fired power in the national power master plan (PDP8) to achieve the goal of net zero emissions by 2050. Local media consider such a change a “revolution” in the electricity and environment of the country. The MoIT said in a written report to the Government Standing Committee that of 14,120 MW of coal-fired thermal power, State corporations had invested in 8,420 MW. Specifically, Electricity of Vietnam was assigned 3,600 MW, including Quang Trach II, Tan Phuoc I and II projects. The Vietnam Oil and Gas Group has been given 1,980 MW for the Long Phu III project. Vietnam Coal and Mineral Industries Group has been assigned 2,840 MW, including Cam Pha III, Hai Phong III and Quynh Lap I assignments. In … [Read more...] about Power Plan VIII to remove more than 14 GW of coal-fired power

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency on August 9. - The Ministry of Industry and Trade (MoIT) has asked the Prime Minister about the mechanism for ongoing solar power and transitional wind power projects to enjoy the incentive price. In a recent document sent to the PM, the MoIT suggested investors of those projects negotiate electricity prices and power purchase and sale contracts with Vietnam Electricity (EVN). Read full story Read full story Illustrative image (Photo: VNA) - Vietnam will need a skilled workforce to transform itself into an upper-middle-income economy by 2035, the World Bank has suggested in its recently-released report named “Taking Stock: Educate to Grow”. Read full story Read full story The new passport version of Vietnam (Photo: Vietnam Government Portal) The granting and use of the new passport will be among the issues about which Minister of Public Security Gen. … [Read more...] about ☕ Afternoon briefing on August 9

Olivier Langlet, CEO of Central Retail Vietnam, said Vietnam is one of the group’s major markets, with annual sales growing rapidly to nearly THB38.6 billion or more than VND25 trillion within 10 years, accounting for 22 percent of Central Retail’s total revenue. In 2021, despite the COVID-19 pandemic, the group’s retail sales in Vietnam grew 0.2 percent, marking a new record. Central Retail currently has more than 300 shops and 39 shopping centers, with total retail space of more than one million square meters. Another foreign retailer, AEON, also plans to build additional hypermarkets in Hanoi, targeting 20 shopping centers in Vietnam by 2025. These and other expansion plans reflect an impressive post-pandemic economic recovery. Domestic retailers are also thriving. The Masan Group, for example, has successfully overcome COVID-19-induced difficulties to maintain operations. In 2021, revenue of The CrownX - the owner of WinCommerce (with WinMart supermarkets and … [Read more...] about Post-pandemic retail market recovers strongly

The location and direction of Mulan storm. (Photo: The National Center for Hydrology Meteorology Forecasting) At 7:00pm today, the storm is predicted to be on Leizhou Peninsula (China), about 230km Southeast of Mong Cai City of Quang Ninh Province. The wind speed near the storm center will also be at level 8 (62-74km/hour), gusting to level 10. Disaster risk level is estimated at level 3. In the next 48 hours, Mulan is expected to move West-Northwestwards, with a velocity of 15km/hour. It will quickly weaken into a tropical depression in the Northeast of the North of Vietnam. The wind speed at that time will be at level 6, gusting to level 8. Under the effect of Mulan, the North of the East Sea (including the Paracel Islands) is now experiencing winds gusting to level 10, with 4-to-6-meter high waves and rough sea. The Gulf of Tonkin including the island districts of Co To and Bach Long Vi from tonight will likely experience increased gales and rough surf, with winds gusting … [Read more...] about Mulan storm heading towards Mong Cai City

This is the third time in a row that MB has been honoured in this award category, recognising the bank's continuous efforts in recent years in trading and providing derivatives products in the Vietnam market. In 2021, the scale of its portfolio and position in the market, the fast and powerful digital transformation process, and the high-quality human resources are the highlights that made MB be selected for the above-mentioned prestigious award, according to the evaluation of The Asian Banker. With a large portfolio and diverse product solutions, MB's interest rate and commodity derivatives business line has long been considered the top choice in the market for many years. The bank's revenue from foreign exchange and derivatives has grown constantly by an average of 40 per cent in the last three years, while the foreign exchange market share remained competitive among the top five financial institutions in Vietnam. Considering the awards based on the bank's results … [Read more...] about MB maintains its position as the market leader in Vietnam

A consumer shops around at a supermarket. Experts said middlemen's high-profit margins are the key behind mounting overall prices. — Photo vneconomy.vn Fuel is the driving force behind mounting overall prices in many countries, but experts believe middlemen are more to blame in Viet Nam. Economic expert Vu Vinh Phu took the sugar industry as an example. He said 70 per cent of Thailand's industry profits are distributed to farmers, whereas 30 per cent go to middlemen. Meanwhile, the reverse is true in Viet Nam, with middlemen taking the lion's share of the pie. Their high-profit margins push up prices, outpacing the impact of fuel. "Normally, products in supermarkets are sold at lower prices than those in marketplaces. Unfortunately, it is not the case in Viet Nam where the former is about 30 per cent more expensive than the latter," he said. The expert attributed middlemen's high-profit margins to the absence of an official goods exchange. Without such an exchange, … [Read more...] about Middlemen to blame for mounting prices