Danang to promote investment in hi-tech sectors Employees work at an automobile assembly and manufacturing plant in Danang’s Hoa Khanh Industrial Park in this file photo. Danang’s enterprises are being urged to suggest ideas for attracting investment in hi-tech sectors at an upcoming conference, scheduled for March 1 – PHOTO: VGP The central coastal city of Danang has urged local firms to pose ideas at an upcoming conference, scheduled for March 1, for attracting foreign direct investment (FDI) in sectors leveraging hi-tech applications in the 4.0 era, the Government portal chinhphu.vn reported, citing the municipal People’s Committee. The municipal government on February 20 stated that the city will prioritize receiving FDI capital for the field of hi-tech agriculture to achieve sustainable growth, alongside other hi-tech-deploying sectors. It will also prepare feasible projects to attract investors from Japan, South Korea and the United States, according to … [Read more...] about BUSINESS NEWS IN BRIEF 23/2
Thermal power plants in india
Vietnam suffers power shortage risk amidst uncompetitive prices
The Hanoitimes - Vietnam will face a severe shortage of electricity in the next few years as domestic demand is surging rapidly while investment in the industry isn`t attractive due to low retail price. According to experts, the country's robust industrialization process has fueled demand for electricity. The government estimated electricity consumption to grow by 10-12 percent annually through 2020, thus power shortages are expected during this period if adequate measures are not taken to increase the supply accordingly. Vietnam will need US$10 billion per year for the construction of power plants. In the revised Power Development Plan VII (PDP 7) released in 2017, installed power-generation capacity in Vietnam amounts to 42.13 GW, of which 37.6 percent is hydropower and 34.3 percent is coal-fired thermal power. It also sets out US$148 billion worth of investments to increase power generation and develop the electricity network, with US$40 billion to be spent in the … [Read more...] about Vietnam suffers power shortage risk amidst uncompetitive prices
Vietnam wants more U.S. investments in renewable energy
Vietnam wants more U.S. investments in renewable energyThe Saigon Times Daily Prime Minister Nguyen Xuan Phuc (R) and former U.S. Vice President Al Gore - PHOTO: VNA HANOI – Vietnam has strong potential to develop clean energy and wants to boost cooperation with the U.S. in this field in the near future, according to Prime Minister Nguyen Xuan Phuc. At a reception for former U.S. Vice President Al Gore on August 3, Phuc expressed his hope that Gore will contribute to promoting investments in clean energy by U.S. firms in Vietnam. According to Phuc, energy security is crucial to Vietnam, as it helps to ensure rapid and sustainable economic development for the country. Vietnam is working on diversifying its sources of energy and increasing its ratio of renewable energy sources to have sufficient energy supplies and meet international commitments concerning greenhouse gas emissions. Vietnam is also seeking capital and modern technologies to invest in the energy … [Read more...] about Vietnam wants more U.S. investments in renewable energy
BUSINESS NEWS IN BRIEF 3/8
JLL reports on real estate M&A in first half Vietnam’s real estate market continued to exhibit irresistible appeal among foreign investors in the first half of 2018 and continued to witness high-value merger and acquisition (M&A) transactions in a variety of sectors such as residential, commercial, and industrial, according to Ms. Khanh Nguyen, Associate Director, Capital Markets, Vietnam, at JLL. Joint ventures have become popular among foreign developers who have strong financial capacity and track record, with them joining forces with local developers who own land and have strong connections with the local community. Foreign investors are from many different countries, such as Japan, South Korea, and Singapore, and with an increasing number of groups from Mainland China. JLL observes that there is an increasing number of local investors who are actively seeking real estate deals alongside foreign investors. 2018 started off with the acquisition of Sun Wah office tower … [Read more...] about BUSINESS NEWS IN BRIEF 3/8
Chinese investors to take over PetroVietnam’s power plant
The list of thermal power plants in Vietnam having investment capital from China will be extended once Chinese investors are approved to take over Long Phu III thermal power plant located in the Mekong Delta province province of Soc Trang. CSG is one of potential investor for Long Phu III thermal power plant. Source: vneconomy.vn The Ministry of Industry and Trade (MoIT) is collecting opinions from the local authorities on transferring Long Phu III thermal power plant from PetroVietnam to interested Chinese investors. According to MoIT, after the prime minister approved transferring the above thermal power plant from PetroVietnam to other partners, two Chinese investors expressed interest in taking over the project. The first one is China Southern Power Grid Co., Ltd. (CSG). It is the investor of the $1.75 billion Vinh Tan 1 thermal power project. The second one is a joint venture of five Chinese firms, including Zhejiang Energy International Limited and WIN Energy Joint … [Read more...] about Chinese investors to take over PetroVietnam’s power plant