Power bank how to choose

Illustrative image. Source: baotainguyenmoitruong.vn EVN has received a document from the MoIT about an electricity price agreement with solar power and transitional wind power plants. The document states that, on January 7, Minister of Industry and Trade signed Decision No.21/QD-BCT establishing the price bracket for the generation of electricity by solar and transitional wind power plants. On January 9, the MoIT issued Document No.107/BCT-DTDL, urging EVN and its investors in solar energy and transitional wind plants to urgently coordinate to negotiate and cooperate on electricity generation prices to ensure that they do not exceed the MoIT's electricity generation price bracket. The MoIT also issued Document No.1094/BCT-DTDL on March 2, directing EVN on how to fulfil the agreement on electricity pricing outlined in the Electricity Law. Based on the aforementioned guidelines, the MoIT requests that EVN and its investors agree on electricity prices by March 31. Up to now, … [Read more...] about EVN must settle transitional renewable energy power tariffs before March 31: MoIT

As part of the draft national Power Development Plan VIII (PDP8), Vietnam plans to generate 7GW offshore wind capacity by 2030, but the lack of an official strategy is hindering progress. At a conference organised by the Central Economic Committee last week, Mark Hutchinson, chairman of the Southeast Asia Task Force, said, “7GW of offshore wind is crucial for Vietnam for its net-zero goal and for the country’s long-term energy security. Our message has been the same for years – a clearly defined route to the market is needed.” He said that offshore wind deployment was in its early stages and the deployment of the country’s 4GW of offshore wind was not driven by a direct auction mechanism but instead arranged at a time when clear policy measures were not in place. Thus, he called for accelerating a large-scale pilot or mechanism that covers a certain volume of the target, to bypass obstacles and fast track wind power. “There are now two main options: an accelerating mechanism such … [Read more...] about No time to waste in building the offshore wind industry

High pedestal to reach for 2023’s growth ambitions Vietnam’s economic growth is projected to ease to 6.3 per cent in 2023 from a robust 8.02 per cent last year, as services growth moderates and higher prices and interest rates weigh on households and investors, according to the World Bank’s latest Taking Stock report released last week. Growth is expected to pick up to 6.5 per cent in 2024 as the economies of Vietnam’s main export markets gain strength, the report said. The outlook for Vietnam reflects heightened uncertainty in the global economy. Downside risks include weaker-than-expected growth in Vietnam’s major export markets, which include the United States, China, and the Eurozone, tightening financial conditions, higher domestic inflation, weaknesses in the balance sheets of corporate, banking and household sectors, and financial sector vulnerabilities. The Vietnamese government has set a target that GDP will increase 5.6 per cent in Q1, 6.7 per cent in Q2, 6.5 per … [Read more...] about High pedestal to reach for 2023’s growth ambitions

A group of solar power ventures that did not make the 2021 feed-in tariff deadline remain idle and developers want fresh solutions Nearly 40 renewable power investors last week asked the prime minister to consider addressing pricing-related inadequacies in renewables development. The joint letter said that the impact of the pandemic and expiry of the country’s previous feed-in tariffs (FiTs) has resulted in 84 renewable power projects, with total capacity of some 4,600MW, falling behind schedule and failing to achieve commercial operation. Among these, 28 wind farms and six solar farms with the combined capacity of more than 2,000MW, which have cost an estimated $3.6 billion are eligible to connect to the national power grid, are still waiting for a suitable pricing mechanism. Six solar power ventures have been waiting for such a mechanism for over two years. The developers last week expressed concerns that they may go bankrupt as the government’s latest pricing band fix are … [Read more...] about Pricing structure not enough to clinch nation’s energy goals

The energy transition in Vietnam is tied to the rapid growth of the economy, urbanisation, and industrialisation. We have seen the strong aspiration of the government to speed up the energy transition while meeting the requirements of economic development and the goal of becoming a high-income country by 2045. Energy transition is more seen as a potential engine for employment, and this trend will likely grow, helping to build support for renewables. John Rockhold, head of the Power and Energy Working Group under the Vietnam Business Forum Fossil energy sources are gradually being replaced by green and clean energy sources, reducing greenhouse gas emissions and combating climate change, while Vietnam is one of the first countries to renew its nationally determined contribution to the United Nations Framework Convention on Climate Change in 2020. The roadmap for the country’s transition process towards green and sustainable development will not only need to ensure … [Read more...] about Displaying readiness for the energy transition in Vietnam

A corner of Vinamilk (VNM) Tay Ninh dairy farm. VNM rose 1.2 per cent on Thursday. — Photo Vinamilk Local shares rose for a third day, buoyed by foreign trading and the positive performance of oil and bank stocks. On the Ho Chi Minh Stock Exchange, the VN-Index rose 0.44 per cent to close Thursday at 1,045.10 points. Market breadth was negative with 179 rising stocks and 195 losing ones. Nearly 431 million shares worth VND7.8 trillion (US$332 million) were traded on HCM City’s bourse. On HOSE, foreign investors were net buyers with a value of approximately VND336 billion. Vinhomes (VHM) was the strongest net bought with a value of VND89 billion. This is also the third session in a row that this real estate code has been purchased the most by foreign investors on HOSE. Hoa Phat Group (HPG) ranked next on the list with VND80 billion. Foreign investors also net bought Vinamilk (VNM) and SSI Securities Inc (SSI) with the value of VND68 billion and VND32 billion, … [Read more...] about Shares rise on foreign buying

Vietnamese Prime Minister Pham Minh Chinh met the U.S.-ASEAN Business Council (USABC) delegation at the Government Headquarters on March 22. The attendees were leaders of the Government Office and the ministries of Planning and Investment, Industry and Trade, Foreign Affairs, Finance, Transport, Information and Communication, Health, Agriculture and Rural Development, Culture - Sports and Tourism. Also in attendance were the State Bank of Vietnam, the U.S.-ASEAN Business Council President and CEO Ted Osius, the U.S. Ambassador in Vietnam Marc E. Knapper. The leaders of more than 50 leading enterprises in the U.S. and the world were there too, including AES, Netflix, Boeing, Apple, Coca-Cola, Pfizer, Abbott, Visa, Citibank, Meta, Ford, and FedEx Express. The Prime Minister welcomed the USABC and the U.S. business delegation to Vietnam, and the delegation members joined a frank, sincere and effective working session with Vietnamese agencies. This is a continuation of previous … [Read more...] about Vietnamese Prime Minister receives delegation of the US-ASEAN Business Council

Multinational cybersecurity company Fortinet has announced several enhancements to its single-vendor solution FortiSASE, enabling additional deployment flexibility and new secure access capabilities for digital resources across private applications, software as a service (SaaS), and the internet. More than half of the respondents to a recent Fortinet work-from-anywhere survey support hybrid workforces, meaning most CEOs are tasked with the challenge of securing users as they contribute from home, the office or elsewhere. Comprehensive security for all users is near impossible when using solutions that are in the cloud or not integrated on-premises. The larger and more distributed the network, the more pervasive these issues can be. Providing consistent security to a global hybrid workforce working from multiple locations requires a single-vendor approach. John Maddison, executive vice president of Products and CMO at Fortinet said, “In today's work-from-anywhere world where users … [Read more...] about Fortinet adds new capabilities to support work-from-anywhere

The second annual report on foreign investment in Vietnam for 2022 released earlier in March by the Vietnam’s Association of Foreign Invested Enterprises noted that the United States has decreased corporate income tax from 25 to 21 per cent, while also reforming investment licensing procedures. In addition, the US government is applying higher taxes on imported products to increase the competitiveness of several industrial sectors, such as energy, automobiles, steel, and aluminium. Vietnam may need to come up with new tactics to retain foreign investors, photo Le Toan Besides that, the US is also promoting a “prosperous economic network” that connects allied countries to build supply chains of products such as semiconductors and 5G-related technology. In Europe, some countries such as Germany and Italy have also unveiled policies to limit investment in overseas markets, while France is encouraging its enterprises to expand their operation in high-value sectors, such as … [Read more...] about Gains feasible through large-scale FDI

Some branches are taking care of the registration fee for car buyers, but sales are still not being boosted, photo Le Toan In a document sent to the prime minister last week, the Vietnam Automobile Manufacturers Association (VAMA) along with other associations asked the government to extend the payment of special consumption tax and reduce the registration fee of domestically manufactured and assembled cars by a half this year, in order to stimulate demand. A VAMA representative said that the domestic car sales market is in a gloomy situation, and has been struggling like many other industries since 2020. “In order to stimulate market demand, we need strong enough policies like extending the payment of excise tax in 2023 and taking 50 per cent off the registration fee. These should be applied as soon as possible,” emphasised the representative. To combat the effects of the pandemic, the government chopped the registration fee in half for domestically manufactured and assembled … [Read more...] about Auto makers project bumpy years ahead