Potential to mechanical energy

Large market potential According to the Vietnam Industry Agency (VIA) under the Ministry of Industry and Trade (MoIT), Vietnam’s mechanical engineering industry enjoys advantages in three main sub-sectors: motorcycles and motorcycle spare parts; household mechanics; automobile tools and parts. Specifically, domestic mechanical engineering enterprises such as VinFast, Thanh Cong, and Thaco now produce and assemble almost all types of vehicles including cars, trucks, and coaches. According to the VIA, domestically produced metal components have now met 85 to 90 percent of the motorcycle demand, 15 to 40 percent of automobile production needs, some 40 to 60 percent of agricultural and construction machinery, and about 10 percent of high-tech industry needs. Truong Thi Chi Binh, Deputy President of the Vietnam Association for Supporting Industries also said that mechanical and supporting industry enterprises now have great opportunities since Vietnam joined various free … [Read more...] about Mechanical industry seeks solutions to access global value chain

Wind experts in Vietnam are suggesting improved bankability in order to attract finance from elsewhere, Photo: Shutterstock Mark Hutchinson, chair of the Southeast Asia Task Force at the Global Wind Energy Council (GWEC) said the investment rate of offshore wind power projects is very large. Therefore, Vietnam needs to have a clear process and an appropriate price to attract investors. At the same time, it is also necessary to consider the supply chain and develop seaport infrastructure. Commenting on the target of 7GW by 2030 as set out in the draft Power Development Plan VIII (PDP8), Hutchinson said it is necessary to have a conversion mechanism for the first 4GW, then implement a bidding mechanism for the remaining 3GW. “If we switch directly to the bidding mechanism, this goal will be difficult to achieve. Besides this, it is necessary to have capital financing from international banks because domestic banks have limited capital supply,” Hutchinson said at a conference two … [Read more...] about Investors clamour for wind incentives

Addressing the event, Assistant Foreign Minister and Head of SOM Canada Paul Thoppil affirmed that his country always attaches great importance to 45-year-ties with ASEAN, and underlined that ASEAN and the Southeast Asian region play a core role in the Indo-Pacific Strategy that Canada is going to announce. He said Canada hoped to engage deeper into regional cooperation through ASEAN-led mechanisms. In order to celebrate the 45-year partnership between the two sides (1977-2022), Thoppil proposed organizing an ASEAN-Canada Commemorative Summit in late 2022 in Cambodia and lift up their ties to a strategic partnership. The ASEAN member countries lauded Canada’s cooperation and support to the association over the years, including a commitment of contributing 3.5 million CAD (2.7 million USD) in five years to the ASEAN Fund for COVID-19 Response, 2 million CAD (1.54 million USD) to the ASEAN Coordinating Center for Humanitarian Assistance on disaster management, and 8.5 million CAD … [Read more...] about ASEAN, Canada seek ways to foster partnership

Your Excellency Prayut Chan-o-cha, Prime Minister of Thailand, Madam Irene Natividad, President of the Global Summit of Women, Ladies and gentlemen, I am delighted to attend the Global Summit of Women (GSW) 2022 hosted in the beautiful and hospitable Thailand. First, on behalf of the Vietnamese delegation, I would like to extend my wishes of peace, prosperity and development to Excellency Prime Minister of Thailand, Madam President of the GSW, and all delegates. Let me take this opportunity to congratulate Thailand on the efforts and achievements in gender equality and women empowerment. They have been reflected in your regulations and enforcement and oversight mechanisms to protect women’s rights and interests. Such efforts have also been recognized through the U.N. Secretary-General’s appointment of a Thai Princess as a Goodwill Ambassador in Thailand for U.N. Women, in line with the determination and desire to “Say No to Violence against Women”. The percentage of Thai women … [Read more...] about Vietnamese Vice President’s statement at opening of Global Summit of Women

National Assembly Chairman Vương Đình Huệ. —VNA/VNS Photo Vietnamese Ambassador to Hungary Nguyễn Thị Bích Thảo talks to Vietnam News Agency about the official visit to Hungary by National Assembly Chairman Vương Đình Huệ, which is scheduled for June 26-28. Could you talk about the meaning and purposes of the official visit to Hungary by NA Chairman Vương Đình Huệ? This is an important visit by a Vietnamese high-ranking leader to deepen the comprehensive partnership and the parliamentarian relations between Việt Nam and Hungary, amid the context the two countries are in a period of economic recovery after the COVID-19 pandemic. Việt Nam and Hungary have a history of 72 years of friendship and cooperation in many fields, such as education and training, law and justice, culture, sports and people-to-people exchanges. Hungary considers Việt Nam an important partner in the Southeast Asian region. The two countries established the comprehensive partnership in September 2018, … [Read more...] about Top legislator’s visit to Hungary expected to deepen bilateral ties

Hanoi, (VNA) – The following is a brief review of the day’s events as reported by the Vietnam News Agency on June 24. – The 55th anniversary of the establishment of Vietnam-Cambodia diplomatic relations was celebrated solemnly in Hanoi on June 24. In his opening remarks, Deputy Prime Minister Le Minh Khai, on behalf of the Vietnamese Party and State leaders and people, extended his greetings to the Cambodian Party, State and people on the meaningful day of the two nations. Read full story – Vietnam and Hungary are looking to step up bilateral partnership in multiple areas and the effective implementation of the EU-Vietnam Free Trade Agreement (UVFTA) during National Assembly Chairman Vuong Dinh Hue’s official visit to Hungary from June 26 – 28. Vietnam and Hungary established diplomatic relations on February 3, 1950 and lifted their ties to comprehensive partnership on the occasion of a visit by Party General Secretary Nguyen Phu Trong to the European nation in 2018. Read full … [Read more...] about ☕ Afternoon briefing on June 24