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The projects are located at the Thuan Bac District of Vietnam, having started operations in 2020 under a 20-year PPA at US$93.5/MWh. This transaction is expected to establish a long-term relationship between Xuan Thien Group and EDPR to jointly explore additional opportunities in the region contributing to accelerate EDPR growth prospects in APAC. With this transaction, EDPR doubles its operational capacity in Vietnam, strengthening its presence in the APAC region, a market where it entered in 2021 and has been since reinforced with the integration of Sunseap in February 2022. The transaction is subject to regulatory and other customary precedent conditions. Hyperion Investment Advisory Limited was Xuan Thien's advisor in the transaction. EDPR completed its S$1.1 billion acquisition of Sunseap Group earlier this year, establishing a clean energy hub for the Asia Pacific region that is headquartered in Singapore. EDPR expects to invest up to S$10 billion in the region … [Read more...] about EDPR acquires two solar projects in Vietnam

At the meeting The statement was made by Chairman of the HCMC People’s Committee Phan Van Mai at a meeting on the city’s socio-economic situation in the first half of the year that was held on June 29 with the participation of Secretary of the Party Committee of the city Nguyen Van Nen and Chairwoman of the municipal People’s Council Nguyen Thi Le. Problems of administrative procedures are the biggest obstacles that have affected the attraction of capital resources, public investment disbursement and impeded capital flows into trade and business production, he said. The city’s chairman asked departments and agencies to focus on solving barriers to promptly handle requests of individuals and businesses to speed up the economy. Chairman of the HCMC People’s Committee Phan Van Mai (L), Secretary of the Party Committee of the city Nguyen Van Nen (C) and Chairwoman of the municipal People’s Council Nguyen Thi Le attend the meeting. (Photo: SGGP) Chairman of the HCMC … [Read more...] about HCMC’s economies recover quickly together

Mô Choosing textbooks for children in Hai An Bookstore in District 1 of HCMCảnh This situation is common in many schools around HCMC. Although teachers have said that the school does not force its students to buy workbooks, many parents admitted they do not know which items are compulsory, so it is safer to buy all in case their children need them. Some bookstores in HCMC separate the pack for formal textbooks from that for workbooks, and they even offer individual books for sale. But others compile these books into one large pack and force people to buy all, even with a discount of 5 percent. Parents, who are usually uncertain of which books are necessary, decide to buy all of them for fear that when they truly need the books, they cannot find these books for sale anymore. Receiving the report on several schools selling textbooks with workbooks and learning tools, Head of Binh Tan District Education and Training Division Ngo Van Tuyen responded that the registration form … [Read more...] about Parents faced with financial burden on textbook purchasing for new school year

Among these, a total of 291 newly-granted foreign investment projects have a total registered capital of $223.75 million, an increase of 5.43 percent in the number of newly-granted projects but a decrease of 1.28 percent in value over the same period last year. There were 68 times that licensed projects from previous years adjusted their investment with additional capital of $1.37 billion, down 2.86 percent in the volume but up 205.19 percent in the value compared to the same period last year. HCMC also approved 1,105 cases where foreign investors are allowed to contribute capital, buy shares or acquire contributed capital of domestic enterprises with registered capital equivalent to $583.11 million, an increase of 9.62 percent in the volume but a decrease of 15.12 percent in the value over the same period. By Duc Trung – Translated by Da Nguyet … [Read more...] about HCMC draws US$2.18 billion of FDI capital in first six months

Illustrative photo (Source: VNA) Hanoi (VNA) - Vietnam is emerging as a good option for Kiwi exporters looking to diversify where they sell their goods, said New Zealand’s new site 1news .co.nz in a recent article. The article cited the Ministry of Foreign Affairs and Trade of New Zealand’s report prepared by the Embassy in Hanoi as saying between 2016 and 2021, Vietnam led ASEAN in terms of growth per capita. This growth rate is higher than that of other major ASEAN markets such as Singapore, Malaysia, or the Philippines Trade Commissioner Joseph Nelson said Vietnam is a "frontier market" presenting new opportunities, and challenges, to Kiwi exporters looking to diversify. "As Vietnam has come out of its COVID waves, we are seeing a really strong bounce back in the economy. GDP is expected to be between 6.5% to 7.5% next year," he said as quoted by the article. "All the markets in Southeast Asia are bouncing back quite strongly, but Vietnam definitely is the best … [Read more...] about Vietnam’s economy lures New Zealand exporters

Before today's trading session, investors received the news that the Vietnam Securities Depository (VSD) had recently consulted on a draft regulation on clearing and payment of securities transactions under the direction of adjusting the payment time for completing the T+2 settlement cycle of the State Securities Commission of Vietnam. One of the essential contents of this draft is the adjustment of the time for securities settlement and clearing banks to complete payment from 3.30 p.m. to 4 p.m. to from 11.30 a.m. to 12.30 p.m. on the trade date plus two days (T+2). With this new regulation, investors can trade right in the afternoon trading session of T+2. According to the draft, the money for securities transactions will be transferred to investors' accounts one day earlier than the old regulations. Therefore, investors can use the money to buy securities right in the afternoon trading session of T+2 instead of having to advance money as before. The new regulation on clearing … [Read more...] about Securities stocks strengthen after draft on T+2 settlement cycle

Roads, airports, and seaports are being looked at by overseas companies in terms of investment feasibility, Photo: Shutterstock On June 16, Hoang Gia Khanh, deputy general director of state-owned railway giant Vietnam Railways (VNR), received a delegation of Austrian businesses at its headquarters who introduced new products and technology solutions aiming to seek opportunities in the local industry. The commercial counsellor of the Austrian Embassy in Hanoi said that businesses expect to intensify cooperation with VNR, specifically those in funding and upgrading projects, as well as machinery upgrading and maintenance. He added that besides official development assistance, the Austrian government also has other financial tools that can help VNR access financial resources and technologies. According to Khanh, investment demand for the industry’s infrastructure development is huge and he highly appreciates the products and technology of groups like Plasser & Theurer and … [Read more...] about Reopening increases foreign interest in transport upgrade

The delta is undergoing infrastructure changes, including being able to welcome larger ship capacities At the conference over a week ago on announcing the delta’s master plan and investment promotion in the 2021-2030 period in in the Mekong Delta city of Can Tho, Dutch Ambassador to Vietnam Elsbeth Akkerman highlighted the role of the private sector. “In order to develop the Mekong Delta to become liveable land for all, we should put the private sector at the forefront for further innovation,” said the ambassador. The ambassador would like to continue working with the government, private sector, scientists, and non-governmental organisations in Vietnam to successfully implement the integrated master plan to help people, the economy, society, and nature in the Mekong Delta region flourish. According to the Ministry of Planning and Investment (MPI), the total state budget for the Mekong Delta in the 2021-2025 period is estimated to be about VND460 trillion ($20 billion). … [Read more...] about New lease of life for delta development

Vietnam enjoyed a trade surplus of 710 million USD in the first six months of 2022, the General Statistics Office (GSO) reported on June 29. Vietnam enjoyed a trade surplus of 710 million USD in the first six months of 2022. (Photo: VNA) According to the office, in the first half of this year, total import-export revenue is estimated to reach 371.17 billion USD, up 16.4% year on year, with imports of 185.94 billion USD, a rise of 17.3% over the same period last year. In the period, the domestic economic sector suffered trade deficit of 15.97 billion USD, while the foreign-invested sector saw trade surplus of 16.68 billion USD. In June, import-export turnover is estimated at 32.65 billion USD, up 5.6% over the previous month. In the second quarter of 2022, export revenue reached 96.8 billion USD, a rise of 21% year on year and 8.7% over the previous quarter. In the January-June period, 28 products recorded export revenue of over 1 billion USD, … [Read more...] about Vietnam enjoys trade surplus of 710 million USD in six months

More than 40 OVs from 17 countries on a visit to Truong Sa island district and DK1 Platform. (Photo: VNA) Hanoi (VNA) – The upcoming conference on implement the Politburo’s Conclusion regarding overseas Vietnamese (OV) affairs aims to ensure the coherence in awareness and actions among agencies and organisations and enhance their understanding of the significance of the matter to great national unity, according to Ambassador Ngo Trinh Ha, Vice Chairman of the State Committee on OV Affairs . Ha said that the conference will gather more than 500 delegates from ministries, sectors and localities at all levels both inside and outside the country. He said that the conclusion further clarifies specific solutions to deal with problems and shortcomings in OV affairs, showing the sentiments and responsibility of the Party and State towards the OV community. Ambassador Ngo Trinh Ha (Photo: baoquocte.vn) The ambassador said that the document underlines that fostering great … [Read more...] about Conference to enhance unity of awareness, action regarding OV affairs