Export value skyrockets over Lunar New Year Vietnam's export turnover during this Lunar New Year saw breakthrough growth, occupying nearly half of the total export-import turnover. The latest data published by the General Department of Vietnam Customs showed that export volume over the seven days (February 10-16) of the Lunar New Year holiday reached $730 million, rising 79 per cent on-year and accounting for about 44 per cent of the $1.67 billion export-import turnover. The main export articles include mobile devices and components valued at $332 million; computer and electronic products worth $251 million. The two categories accounted for 80 per cent of the total export value. This Lunar New Year saw exports going to 80 markets, seven more than last year. China continues to be the leading export market with a value of $189 million (26 per cent). Following are the US ($152 million), South Korea ($67 million), and Hong Kong ($57 million). According to statistics from the General Department of Vietnam Customs, there were 960 import-export businesses, up 59 per cent on-year. Nevertheless, importers still outnumbered exporters with an import turnover of $940 million, up 37 per cent on-year. Thus, from early this year to February 16, the total export-import turnover reached $74.51 billion, up 31 per cent on-year. Of this, exports hit $38.57 billion, up 36 per cent on-year while imports reached $35.94 billion, up 26 per cent, resulting in a trade surplus of $2.63 billion. Drug market forecast to grow by 15 per cent in 2021 The pharmaceutical industry grew by just 2.8 per cent last year, much lower than its average 11.8 per cent growth in the last five years. It is expected to recover and grow by 15 per cent this year, mainly due to a rapidly ageing population and increasing incomes, analysts at SSI Securities Corporation said. Last year there was a short supply of active pharmaceutical ingredients from China and India due to social distancing and …
Smart city smart grid
Viet Nam needs more than $128 billion to develop electricity in the next nine years
A wind farm of Trung Nam Group in Ninh Thuan Province in the central region of Viet Nam. The country aims to have 44 per cent of its power from renewable energy. — Photo courtesy of Trung Nam Group Viet Nam needs about $128.3 billion of investment capital to develop its electricity industry in 2021-2030, according to draft electricity planning released by the Ministry of Industry and Trade (MoIT). On February 9, the MoIT issued a draft national electricity development planning project for 2021-2030, with a vision to 2045 or the power master plan VIII and asked other ministries and agencies to contribute their ideas. With forecasts that Viet Nam's GDP growth will reach an average of 6.6 per cent per year in 2031-2045 and 5.7 per cent per year in 2031-2045, the MoIT forecast the supply of commercial electricity to reach 491 billion kWh by 2030, and 877 billion kWh by 2045. The draft expected by 2030, the total installed capacity of electricity sources in the country would reach 137.2 GW including 27 per cent from coal-fired thermal power, 21 per cent from gas thermal power, 18 per cent from hydroelectricity, 29 per cent from wind power, solar and renewable energy and 4 per cent from the imported sources and 1 per cent from other types of energy from storage devices. The MoIT’s draft said by 2045, the total installed capacity will reach nearly 276.7 GW including 18 per cent from coal-fired thermal power, 24 per cent from gas thermal power, 9 per cent from hydroelectricity, 44 per cent from wind power, solar and renewable energy and 2 per cent from the imported sources and 3 per cent from other types of energy from storage devices. The power master plan VIII encourages the development of renewable energy and discourages hydroelectricity. Renewables made up 13 per cent of power in 2020 and are aimed to make up 30 per cent by 2030 and 44 per cent by 2045. Regarding the power grid development programme, the plan proposes to continue building the 500kV power …
Việt Nam needs more than $128 billion to develop electricity in the next nine years
A wind farm of Trung Nam Group in Ninh Thuận Province in the central region of Việt Nam. The country aims to have 44 per cent of its power from renewable energy. — Photo courtesy of Trung Nam Group HÀ NỘI — Việt Nam needs about $128.3 billion of investment capital to develop its electricity industry in 2021-2030, according to draft electricity planning released by the Ministry of Industry and Trade (MoIT). On February 9, the MoIT issued a draft national electricity development planning project for 2021-2030, with a vision to 2045 or the power master plan VIII and asked other ministries and agencies to contribute their ideas. With forecasts that Viet Nam's GDP growth will reach an average of 6.6 per cent per year in 2031-2045 and 5.7 per cent per year in 2031-2045, the MoIT forecast the supply of commercial electricity to reach 491 billion kWh by 2030, and 877 billion kWh by 2045. The draft expected by 2030, the total installed capacity of electricity sources in the country would reach 137.2 GW including 27 per cent from coal-fired thermal power, 21 per cent from gas thermal power, 18 per cent from hydroelectricity, 29 per cent from wind power, solar and renewable energy and 4 per cent from the imported sources and 1 per cent from other types of energy from storage devices. The MoIT’s draft said by 2045, the total installed capacity will reach nearly 276.7 GW including 18 per cent from coal-fired thermal power, 24 per cent from gas thermal power, 9 per cent from hydroelectricity, 44 per cent from wind power, solar and renewable energy and 2 per cent from the imported sources and 3 per cent from other types of energy from storage devices. The power master plan VIII encourages the development of renewable energy and discourages hydroelectricity. Renewables made up 13 per cent of power in 2020 and are aimed to make up 30 per cent by 2030 and 44 per cent by 2045. Regarding the power grid development programme, the plan proposes to continue …
