The Economic Committee of the National Assembly has proposed that Vietnam restart a suspended nuclear power project in south-central Ninh Thuan Province to ensure the country’s ability to develop nuclear power in the future and to help achieve its environmental protection goal by 2050. The Economic Committee has submitted a report on the implementation of Resolution 31 of the National Assembly, which was issued to suspend the Ninh Thuan nuclear power project in the namesake province in 2016. In the report, the committee stated that Vietnam would potentially face challenges brought about by electricity shortage in the 2021-25 period. The competitive electricity market has not been developed in a synchronous manner, while the power pricing mechanism has been improved slowly. The country’s power source has yet to guarantee sustainable development and still has a negative impact on the environment. Vietnam previously pledged to reach its net-zero carbon emissions target by 2050 … [Read more...] about Vietnamese legislature’s economic committee proposes restarting nuclear power project
Ryzen which power plan
Vietnam’s long-term credit rating upgraded to “BB+”: S&P
S&P forecast Vietnam’s GDP will grow 6.9% in 2022 before settling closer to its long-term trend of growing 6.5%-7% from 2023 onward. S&P Global Ratings on May 26 raised its long-term foreign and local currency sovereign credit ratings on Vietnam to 'BB+' from 'BB'. S&P expects Vietnam's economy to continue its upward trend. Source: S&P The rating agency also affirmed the country’s short-term rating at ‘B’ with a stable outlook. “The stable outlook reflects our expectations that over the next 12-24 months, Vietnam's economy will continue to recover from the challenges posed by the pandemic over the past two years. This will support the external position and rein in fiscal deficits,” it noted. S&P added it could raise the ratings if Vietnam's institutional settings improve considerably, in ways that augment policy predictability and transparency. Such favorable changes in the policy environment could bolster investor confidence in the … [Read more...] about Vietnam’s long-term credit rating upgraded to “BB+”: S&P
AFD, EU strengthen urban climate resilience in Vietnam
The AFD and EU have been actively supporting Vietnam in the areas of climate change mitigation and adaptation. Vietnam will receive financial aid from the EU and the Agence Française de Développement (AFD) to reduce the vulnerability to climate hazards in several towns in four northern and central provinces. The project is jointly co-financed with a EUR5 million (US$5.36 million) grant from the EU, a EUR123 million ($132 million) ODA loan from the AFD, and EUR 28 million ($30 million) from provincial budgets. The principal goal is to help localities adapt to climate change and recover from natural disasters such as flooding, typhoons, and drought. Delegates attend the launching ceremony. Photo: the Embassy of France in Vietnam The regional towns include Phat Diem in the northern province of Ninh Binh, Ngoc Lac in the central province of Thanh Hoa, and Hoang Mai in the central province of Nghe An, Huong Khe, and Thach Ha in the central province of Ha Tinh. … [Read more...] about AFD, EU strengthen urban climate resilience in Vietnam
Millions of travelers book tours for summer vacation
People and tourists choose to buy tours at the Hong Ngoc Ha travel booth during Ho Chi Minh City Tourism Festival 2022 Specifically, national carriers Vietnam Airlines, Pacific Airlines, and the Vietnam Air Services Company (VASCO) have prepared to supply more than 7.1 million seats during the peak summer season from June 1 to August 15, an increase of 10 percent compared to the same period before the Covid-19 epidemic. On average, during the peak summer season, these airlines will operate 430 domestic flights, especially those to Hanoi, Da Nang, and Ho Chi Minh City. With international routes, Vietnam Airlines and Pacific Airlines provide over 852,000 seats, equivalent to more than 3,600 flights, only 40 percent of the number in 2019 because international travel demand has not recovered as before. Vietravel Airlines also said that the demand for travel and tourism will increase, so it has planned to increase the number of aircraft and frequency of flights to the Central … [Read more...] about Millions of travelers book tours for summer vacation
Hanoi parents brace for tuition hikes
After a year of not raising tuition fees due to the impacts of Covid-19, the Hanoi people's council passed a resolution on May 20 to hike public preschool and high school tuition fees for the 2022-23 academic year. The fees would double at first and subsequently increase by 20-40 percent every year. Sen, 43, lives in Hanoi’s Ha Dong District with her husband and two daughters, the other in 10th grade. She cleans houses for hourly wages while her husband is a laborer. They pay the highest tuition rate since their household registration is in Region 1, which comprises the capital’s inner districts. In addition, she may be required to pay VND300,000 ($12.93) per child per month for the following academic year, which is 1.4-2 times the current fee. Tuition fees for middle and high schools in Region 1 will gradually rise over the next three years to VND410,000, VND530,000, and VND650,000, respectively. Meanwhile, Sen and her husband's incomes fluctuate every month: Sometimes … [Read more...] about Hanoi parents brace for tuition hikes
TGS Green Hydrogen to develop new plant for nearly $850 million
The project is located in Ba Tri district. The construction of the green hydrogen plant is expected to start in late June and start a trial run in the first quarter of 2023. It marks the first green hydrogen project in Vietnam. The plant is expected to generate 24,000 tonnes of green hydrogen initially with an annual capacity of 150,000 tonnes of ammonia and 195,000 tonnes of oxygen. Later, the annual production capacity is expected to be 60,000 tonnes of green hydrogen, 375,000 tonnes of ammonia, and 490,000 tonnes of oxygen, which is more than double the capacity. The project is suitable for Vietnam’s policy to boost its clean energy usage and hence work on reducing its dependency on coal. Vietnam, a regional manufacturing powerhouse, wants to nearly double its total installed power generation capacity to 146,000MW by 2030 and prioritise using renewable energy while reducing dependency on coal. By Ha Vy … [Read more...] about TGS Green Hydrogen to develop new plant for nearly $850 million
FDI grow strongly in the first five months
Both additionally-registered and share purchasing of FDI rose strongly in the first five months According to the Ministry of Planning and Investment's Foreign Investment Agency, Vietnam counted newly-registed FDI inflows of about $11.7 billion in the first five months, equivalent to 83.7 per cent of the previous year's total. Of this, $4.12 billion was poured into 578 newly-licensed projects, a slight decrease of 5.7 per cent in the number of projects, and a sharp reduction of 53.4 per cent in value. $5.61 billion was added to 395 projects currently underway, a rise of 45.4 per cent in value and 15.5 per cent in number. Overseas investors also poured almost $2 billion into just over 1,300 share purchase deals, an increase of 51.6 per cent over the same period last year. FDI disbursement climbed slightly by 7.8 per cent on-year to $7.7 billion. Almost 35,000 valid foreign-invested projects were accumulated across the country with the total registered capital of $426 … [Read more...] about FDI grow strongly in the first five months
Bond issuance slows amid tightening controls
A bondholder shows her ABOND bonds. Photo mns.com HÀ NỘI — Bond issuers have become more cautious amid the authorities tightening control of the market, leading to issuance shrinkages. The Ministry of Finance reported that the total issuance volume of privately-placed bonds plunged to around VNĐ30 trillion (US$1.3 billion) in April, down 33 per cent year-on-year. In the first two weeks of May, the issuance figure reached VNĐ5.2 trillion, equaling one-third of the figure last year. Notably, realty bonds fell sharply to about VNĐ820 billion in April, far less than their average monthly volume of VNĐ26 trillion in 2021. The market experienced not only decreasing bond issuances but also a buyback spree. Specifically, premature bond buybacks in April alone stood at VNĐ11.9 trillion, comparable to the figure of VNĐ12.8 trillion in the previous three months combined. The securities firm SSI underlined the Tân Hoàng Minh Group's cancellation of issuance of nine … [Read more...] about Bond issuance slows amid tightening controls
Việt Nam continues to strengthen cooperation to fight against LGBTQ+ discrimination
The workshop takes place on Friday at the Intercontinental Landmark 72 Hotel, Hà Nội. — Photo VNA/VNS Anh Đức HÀ NỘI — "Việt Nam is consistent in protecting and promoting human rights to meet the goal of 'human rights for all'," said a foreign affairs official. "At the Universal Periodic Review of the UN Office of the United Nations High Commissioner for Human Rights (OHCHR), Việt Nam accepted and enacted many recommendations to protect vulnerable groups," Lê Thị Thu Hằng, Assistant to the Minister of Foreign Affairs and spokesperson for the ministry, told an international workshop on Friday. The event titled "Protection against Violence and Discrimination Based on Sexual Orientation and Gender Identity: International and Việt Nam's Experiences" was jointly organised by the Ministry of Foreign Affairs (MoFA) and the United Nations Development Program (UNDP) in Hà Nội. "Legal frameworks and policies to counteract against violence and discrimination based on sexual … [Read more...] about Việt Nam continues to strengthen cooperation to fight against LGBTQ+ discrimination
Vietnamese airlines to serve high summer demand
Airlines in Vietnam are increasing the number of flights to serve high demand during the coming summer holiday. Vietnam Airlines Group, which operates Vietnam Airlines, Pacific Airlines, and VASCO has said they will conduct some 36,000 flights with more than 7.1 million seats, including 32,400 flights and 6.3 million seats on domestic routes between June 1 and August 15. The figure showed an increase of 10 percent compared to the same period in 2019 before the Covid-19 pandemic. Vietnam Airlines Group will operate approximately 430 domestic flights daily during the peak summer days. Some of the busiest flight routes include Hanoi-Danang/HCM City and HCM City-Danang with nearly 160 flights daily between these three cities. There will also be hundreds of flights conducted to other popular tourist destinations including Phu Quoc, Cam Ranh, Dalat, Hue, Quy Nhon, Dong Hoi, Tuy Hoa, and Con Dao. Meanwhile, Vietnam Airlines Group is planning to operate over 3,600 international … [Read more...] about Vietnamese airlines to serve high summer demand