Power development plan

The conference featured Prime Minister Pham Minh Chinh, and top government officials, including minister of Planning and Investment Nguyen Chi Dung and minister of Industry and Trade Nguyen Hong Dien. The 2.2GW Son My 2 CCGT power plant will be located in Binh Thuan province. The $1.8 billion plant will have a 20-year contract with the Vietnamese government. Speaking at the conference, Joseph Uddo, president of AES Vietnam said, “The investment policy for Son My 2 CCGT power plant marks a significant milestone enabling us to move ahead with the project. “We are honoured to receive the approval in this significant event today on the action plan to implement Resolution No. 26-NQ/TW of the Politburo, recognising the importance of the power plant project in ensuring energy security, promoting international investment and the socioeconomic development of Vietnam.” Son My 2 complements AES’ investment plans in gas infrastructure in the country and the … [Read more...] about AES receives investment policy for Son My power plant

Google owner Alphabet Inc on Monday (Feb 6) said it will launch a chatbot service and more artificial intelligence for its search engine as well as developers, an answer to Microsoft Corp in their rivalry to lead a new wave of computing. Microsoft, meanwhile, said it planned its own AI reveal for Tuesday. The cascade of news reflects how Silicon Valley is anticipating massive change from so-called generative AI, technology that can create prose or other content on command and free up white-collar workers' time. The ascent of ChatGPT, a chatbot from Microsoft-backed OpenAI that could disrupt how consumers search for information, has been one of the biggest challenges to Google in recent memory. In a blog post, Alphabet Chief Executive Sundar Pichai said his company is opening a conversational AI service called Bard to test users for feedback, followed by a public release in the coming weeks. He also said Google plans to add AI features to its search engine that synthesise … [Read more...] about Google unveils ChatGPT rival Bard, AI search plans in battle with Microsoft

The conference touched upon the implementation of the Government’s action plan to materialize the Politburo’s Resolution No.26-NQ/TW dated November 3, 2022 on orientations for socio-economic development and national defense and security in the two regions by 2030 with a vision towards 2045. It was also intended to promote investment in the regions with the theme of “Linkage - Breakthroughs from maritime economy - Rapid, sustainable development.” The regions hold strategic positions and roles of special significance in terms of economy, especially maritime economy, politics, culture, social affairs, environment, external relations, national defense and security, as well as sea and island sovereignty, the Prime Minister pointed out. Notably, they are home to five cultural and natural heritage sites, and six intangible cultural heritage elements recognized by UNESCO, he said. The leader, however, expressed his concern that such unique potential and competitive advantages have yet to … [Read more...] about Prime Minister asks north-central, central coastal regions to create development breakthroughs

The conference featured Prime Minister Pham Minh Chinh, and top government officials, including minister of Planning and Investment Nguyen Chi Dung and minister of Industry and Trade Nguyen Hong Dien. The 2.2GW Son My 2 CCGT power plant will be located in Binh Thuan province. The $1.8 billion plant will have a 20-year contract with the Vietnamese government. Speaking at the conference, Joseph Uddo, president of AES Vietnam said, “The investment policy for Son My 2 CCGT power plant marks a significant milestone enabling us to move ahead with the project. “We are honoured to receive the approval in this significant event today on the action plan to implement Resolution No. 26-NQ/TW of the Politburo, recognising the importance of the power plant project in ensuring energy security, promoting international investment and the socioeconomic development of Vietnam.” Son My 2 complements AES’ investment plans in gas infrastructure in the country and the … [Read more...] about AES receives Investment Policy Decision for 2.2 GW Son My 2 CCGT plant in Vietnam

Inflationary pressure for Vietnam's economy in 2023 is high and comes from many factors, he said in an interview with the Vietnam News Agency (VNA). The demand-pull and cost-push inflation will put pressure on the country's efforts to control inflation amid surging demand and strengthening of the U.S. dollar which yields increased import prices. Demand for petrol and electricity – the two important commodities for production and consumption – will increase in 2023. The domestic electricity price has been kept unchanged for the past few years, while the price of coal and gas used in the production of electricity has increased, he said, noting that thermal and gas power account for a large proportion of the total generated electricity. Therefore, it is forecasted that the Government may raise the price of electricity this year. A hike in electricity prices will put pressure on inflation by increasing production costs and consumer spending, and at the same time reducing economic … [Read more...] about Vietnam faces inflationary pressure in 2023: expert

Seven international partners will support the investment in infrastructure, transport, urban development, and climate response. Nearly US$8 billion will be pumped into Vietnam's Central Coast region to support the socio-economic development of the region towards sustainability and climate adaptation. An overview of the signing and awarding ceremony. Photo: Trung Nhan/The Hanoi Times The value was announced at a signing ceremony held on February 5 between the Ministry of Planning and Investment and international partners. Accordingly, the local authorities granted investment certificates and approved investment policies and investment cooperation for domestic and international investors. Among the investment deals, seven development partners are committed to providing a total capital of more than US$1.7 billion in 45 projects. The partners included the Asian Development Bank (ADB), the French Development Agency (AFD), the International Fund for Agricultural … [Read more...] about $8 billion to be pumped into Vietnam’s Central Coast

Workers of Viet Nam Electricity check the transmission system. The bracket of average electricity retail prices has been increased to VND1,826.22 per kWh for the floor price and 2,444.09 for the ceiling price. — VNA/VNS Photo Huy Hung The bracket of average electricity retail prices has been increased to VND1,826.22 per kWh for the floor price and 2,444.09 for the ceiling price, according to the Prime Minister’s Decision No 02/2023/QD-TTg dated on February 3. Compared to the previous bracket, which has been applied since 2017, the floor price increased by VND220 and the ceiling price by VND538 per kWh. The adjustment of the bracket would not immediately impact prices. The bracket and the inspection results of the electricity production and business costs in 2022 would be the base for the Ministry of Industry to decide on the average electricity retail price for this year. The Ministry of Industry and Trade recently urged Viet Nam Electricity (EVN) to urgently complete the … [Read more...] about Average electricity retail price bracket increases