Rooftop solar dims under pressure from utility lobbyists

The growth momentum in 2022 has created the space and conditions for effective monetary and fiscal maneuvering in 2023. Vietnam's economy has performed well in the context of an unfavorable global outlook as strong recovery is seen in the majority of economic fields and localities. In 2023, the prospects are set to stay bright thanks to the implementation of the Socio-Economic Recovery Program 2022 - 2023. Vice President of National Economics University Hoang Van Cuong. Advantages and challenges are intertwined In 2022, Vietnam’s economy has met and exceeded many socio-economic targets. The country’s GDP growth is estimated at 8% year on year, while inflation is kept below the 4% threshold. Other positive results include export growth of 12%, consumer spending of 10%, and investment capital of 9%. These achievements took place when the world situation remained volatile with unprecedented risks, including the disruption of the supply chain, the … [Read more...] about Vietnam’s economic prospects stay bright despite dim global outlook

Sembcorp has made significant progress by growing its industrial property portfolio. How can its achievements be assessed? Charles Chong, head of Sembcorp Development in Vietnam Since Sembcorp started Vietnam Singapore Industrial Park (VSIP) in 1996, we have diversified our industrial property portfolio. With VSIP, we pioneered the integrated township and industrial park concept. In 2022, Sembcorp launched a new smart and sustainable VSIP and obtained a licence for our 12th VSIP, to be developed in the Mekong Delta city of Can Tho. Sembcorp has also completed ready-built warehouses in Haiphong city and Hai Duong province, both in the north. We are working with Vietnam in its industrialisation and urbanisation journey. We are proud that our projects have brought us closer to the Vietnamese people by generating good employment opportunities, catalysing growth in provinces, establishing communities in new places, and taking care of the disadvantaged in our communities. … [Read more...] about Sembcorp’s consistent sustainability

This time of year is critical for the competitiveness of foreign-owned businesses in Vietnam. Last Tuesday, Hark-Kyu Park, president and CFO of Samsung Electronics, expressed the company’s expectation that the Vietnamese government would continue to support its development. He said that Vietnam is an essential partner and Samsung’s biggest manufacturing hub worldwide. Rising energy costs to require roadmap for businesses’ timely adjustment of strategies. Photo: Le Toan Do Nguyet Anh, chairman of the board at Northern Electric Equipment (NEE), said last month that Samsung in northern Vietnam “stopped several manufacturing lines” and “restricted satellite operations.” The longer-than-usual production halt resulted in a drop of 300 million kWh. Samsung is now one of NEE’s major clients in terms of power use. The steady recovery of domestic production is anticipated to result in a rise of 8-9 per cent in the industrial production index in 2023. Since Q4 of 2022, however, … [Read more...] about Rising energy costs to require roadmap for businesses’ timely adjustment of strategies

A multi-generational family lives in this penthouse overlooking the Saigon River in HCMC's Thu Duc City. The apartment's west-facing exterior, however, is extremely susceptible to solar glare. The architect's solution was to build two horizontal layers of space into the apartment, filling one with foliage to create an urban rainforest that blocks the light. The indoor plants also help moderate the interior temperature and humidity. The apartment has a tropical theme, with plenty of natural light and open spaces for both residents and visitors to enjoy. The colors and patterns used in this decorating style are reminiscent of the tranquility of an island surrounded by lush vegetation and fresh air. Tropical decor frequently features palm leaves or palm tree accents. Place a lot of tall palm plants inside to make it look like a tropical forest. With floor-to-ceiling glass door frames, this room is bathed in natural light and gives … [Read more...] about Jungle-inspired penthouse brings the tropics indoors

The negotiation of the Paris Peace Accords (signed January 27, 1973) was one of the longest running negotiations in the history of international diplomacy. Why did it take 5 years for the Accords to be signed? An international negotiation would normally only take several days, or several months. But negotiations for the Paris Accords lasted almost 5 years for many reasons, including politics, complex historical contexts and unpredictability on the battlefield. First, the stances taken by U.S. officials and the Democratic Republic of Vietnam at the beginning of negotiations were vastly different, almost opposites of each other. The Democratic Republic of Vietnam asked the U.S. to pull its troops out of the South and end its military intervention, while the U.S. wanted the opposite, arguing that their role was necessary to maintain stability in the South. There were many times when negotiations had to stop as both sides could not reach an agreement on this key point. Second, … [Read more...] about Paris Peace Accords decisive condition for Vietnam’s unification

Vi, who has almost 20 years of experience working in the field of finance and investment credit, discussed credit financing for renewable energy initiatives, including wind and solar, at the event. She said the spectrum of electricity investment in Vietnam could be divided into three categories: foreign investors, Vietnamese corporate entities that can arrange credit with domestic and foreign banks, and businesses that have not yet had the opportunity to arrange capital but wish to. During 2017–2019, international investors could obtain capital inflows at a cost of around 4–5 per cent, but Vietnamese firms had to obtain capital from local banks at a cost of 11–15 per cent of total capital expenses. Therefore, local investors were pressured to invest much more than their international counterparts. In addition, Vietnamese organisations and businesses continue to need assistance in gaining access to credit, owing to the fact that international banks do not lend to local businesses … [Read more...] about Misleading to assert foreign firms dominate Vietnam’s energy sphere: expert

The Central Institute for Economic Management (CIEM) has developed two scenarios for the Vietnamese economy in 2023 after an 8% growth rate was recorded in 2022. The Vietnamese economy is anticipated to grow by 6.47% and 6.83% in 2023 in two scenarios respectively developed by the Central Institute for Economic Management (CIEM). A ccording to CIEM, Vietnam’s economic outlook in 2023 may be influenced by more factors than previous years. Among the factors are the country’s ability to control the spread of coronavirus variants and new diseases, the degree of monetary tightening in key economies to handle inflationary pressures, the rising geographical competition and the protracted Russia-Ukraine conflict. Other factors include the progress in implementing the national socio-economic recovery and development programme, the introduction of more financial and monetary policies to support economic recovery, the diversification of export markets associated with the … [Read more...] about Two scenarios for Vietnamese economy in 2023