South korea facts

Khanh Hoa province, on the south-central coast, has recently been leading the way in attaining attraction from both domestic and foreign financiers when it comes to the gas and electricity sector. Among the suitors is one from the United States, proposing the Millennium gas power project with a forecast capacity of 14,400MW and 17 million tonnes of storage for liquefied natural gas (LNG) per year. Joining in are Embark United Co., Ltd. and US Quantum Corporation to establish a 6,000MW gas power venture and a port warehouse to receive and process six million tonnes of LNG per year. Japanese investors did also not ignore the opportunity to develop gas power projects in Khanh Hoa, as Sumitomo Corporation proposed to invest in a 3,000MW gas power scheme and a storage system for three million tonnes of LNG per year, while J-Power Co., Ltd. wants to invest in a gas turbine power project with a capacity of 3,000MW. Despite a slightly slower approach, the province is also seeing the presence of more domestic investors, led by Electricity of Vietnam which proposed a 6,000MW gas power project, while Petrolimex wants to build a warehouse for around three million tonnes of LNG per year. Those involved in the gas power sector all understand that developing such a project in Vietnam is a difficult task, as the country is still in the process of building its Power Development Plan 8 (PDP8). Nevertheless, the total installed capacity of power sources by 2030 is supposed to reach 137.2GW, of which gas accounts for 21 per cent. Tran Ky Phuc, director of the Institute of Energy under the Ministry of Industry and Trade (MoIT) – the unit in charge of building the PDP8 – said that electricity demand in this plan is calculated lower than in the revised PDP7, reducing the forecast amount by 3-4 billion kWh in 2020 and 9-10 billion kWh in 2030. Realistic needs The development of gas power sources in Vietnam is the result of the exhaustion of fossil fuels, the …

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Imports-exports contribute $2.37 billion to State budget in Jan-Feb State budget collection from import-export activities reached 54.76 trillion VND (2.37 billion USD) in the first two months, or 17.38 percent of the estimate and a year-on-year rise of 7.53 percent, according to the General Department of Vietnam Customs. In February alone, the collection was 23.66 trillion VND. As Tet (Lunar New Year) holidays fell in the month, the customs department worked together with relevant agencies to combat smuggling and trade frauds while increasing inspections. The customs force detected 967 cases in total from January 16 to February 15, seizing goods of 258.67 billion VND and contributing 8.6 billion VND to the State budget. State budget collection was estimated at 220.5 trillion VND in total in the first two months of 2021, equivalent to 16.4 percent of the year’s estimate./. Risky to invest in forex trading plaforms: Deputy Governor Forex trading via investment platforms had not been licensed in Viet Nam, posing significant risks to investors, Deputy Governor of the State Bank of Viet Nam Dao Minh Tu warned. Tu said at the Government’s meeting on Tuesday in Ha Noi that the operation of forex trading platforms was currently illegal, adding that the trading of foreign currencies and derivatives must be provided by credit institutions and commercial banks licensed by the State Bank of Viet Nam. Until now, no forex trading platforms had been licensed for trading, he stressed, warning about risks when investing via these platforms. Recently, some organisations like Lion Group called for investments in forex through Fx Trading Markets with attractive interest rates of up to 300 per cent per year and commissions. Lion Group attracted around 40,000 investors nationwide. Tu urged people to be cautious with these appealing calls, adding that there were signs of in-transparencies and frauds. “The skyrocketing profits in the current situation …

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The Hanoitimes - All air carriers have temporarily halted international flights due to the Covid-19 pandemic. All Vietnamese airlines have announced temporary suspension of international services as travel restrictions across the globe are delivering a strong blow to the aviation industry. National flag carrier Vietnam Airlines announced on March 19 it would suspend all international flights until April 30 due to the complicated developments of the Covid-19 pandemic, entry restrictions of many countries as well as border closures between nations. The person is spraying disinfectant on a flight board. Photo: Vietnam Airlines Specifically, the carrier's flights to and from Southeast Asian countries, including Singapore, Thailand, Indonesia, Laos, Cambodia, Myanmar will be halted from March 21 while services to/from the UK and Japan will be temporarily canceled from March 23. Its flights to Germany and Australia will be stopped from March 24 while those returning to Vietnam will be canceled from March 25. Previously, the carrier had temporarily suspended services connecting Vietnam and China, Hongkong, Macau, South Korea, France, Russia, Malaysia, and Taiwan. Budget carrier Vietjet Air will also cease flying from and to ASEAN countries including Thailand, Singapore, Malaysia, Cambodia, Myanmar, Indonesia. The low-cost carrier also announced on March 3 to suspend all flights between Vietnam and South Korea from March 7. Jetstar Pacific, the budget arm of Vietnam Airlines, will also temporarily cease all international flights until April 30. Meanwhile, startup airline Bamboo Airways announced to postpone its plan to fly between Hanoi and Prague of the Czech Republic as originally scheduled from March 29 to April 26 due to the pandemic. Other international flights have also been canceled. According to the carriers, passengers on flights affected by schedule alterations during the Covid-19 pandemic time can change …

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