On the websites of the Ministry of Industry and Trade (MoIT) and its affiliates, there are an increasing number of articles analysing the high power costs of several nations in the region and around the globe. The majority of information connects to the MoIT’s consideration of a proposal to raise the average retail price of energy as a means to assist EVN in rebalancing its finances after a $1.34 billion loss in 2022. There is a possibility of financial imbalance due to failure to change energy rates in a timely manner. Photo: Le Toan In December, EVN proposed to the MoIT that the selling price of electricity be raised in order to alleviate hardships and ensure financial balance in 2023 and subsequent years due to high fuel costs. EVN said that it is awaiting “a decision from the appropriate authorities”. EVN estimates that the average retail price of energy in 2022 was 8.2 US cents per kWh (excluding the exchange rate difference of the remaining power purchase … [Read more...] about Power price hike on the cards in Vietnam
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Vo Thi Anh Xuan serves as acting president of Vietnam
Vietnam never has a female state president in history. Vo Thi Anh Xuan, 53, was appointed Acting President of Vietnam to replace Nguyen Xuan Phuc who resigned from the post a day ago at his personal request. Vietnam's Acting President Vo Thi Anh Xuan. Photo: Gia Han The announcement was made today [January 18] by the National Assembly’s Standing Committee. Anh Xuan will hold the post until the National Assembly (NA) elects the new president, state media reported, but did not specify the time of the election. The appointment of Anh Xuan is in accordance with the 2013 Constitution, the NA Organization Law, and the decision of the Politburo, the country’s most powerful body. Anh Xuan was born in the Southwest province of An Giang. She held different positions in her hometown before being elected Vice President in April 2021. Former Vice President Dang Thi Ngoc Thinh described Anh Xuan as a competent woman for her wisdom and confidence. … [Read more...] about Vo Thi Anh Xuan serves as acting president of Vietnam
☀️ Morning digest January 19
Hanoi (VNA) - The following is a list of selected news summaries last night by the Vietnam News Agency. - The Vietnamese Government always values the development of traditional friendship with Portugal, Prime Minister Pham Minh Chinh told Portuguese Minister of Foreign Affairs Joao Gomes Cravinho during a reception in Hanoi on January 18. PM Chinh suggested both sides facilitate visits, especially those at high level to raise mutual understanding and political trust, as well as fully and effectively tap existing cooperation mechanisms and build new ones to step up collaboration in promising areas that match their interests. Read full story - The 15th National Assembly's third extraordinary meeting took place in Hanoi on January 18 under the chair of NA Chairman Vuong Dinh Hue. At the meeting, the legislature listened to a proposal by the NA Standing Committee on relieving Nguyen Xuan Phuc from the position as President of Vietnam for the 2021-2026 tenure and allowing him to … [Read more...] about ☀️ Morning digest January 19
50th anniversary of Paris Peace Accords marked in France
In his remarks at the event, Ambassador Dinh Toan Thang highlighted the significance of the Paris Peace Accords, emphasizing that 50 years have passed since the agreement was signed but the values of peace still need to be preserved and fostered. Referring to the support of French friends for Vietnam, the diplomat affirmed Vietnam always remembers that France has shared with Vietnam common values of peace and solidarity. International solidarity, especially the great support that the French people gave to their Vietnamese peers in the process to regain independence and peace, is a solid basis for building the friendship and cooperation between France and Vietnam, he stressed. He showed the gratitude to all long-time friends of Vietnam in various associations and political organizations of France, who have contributed to promoting peace and friendship between the two countries. The ambassador wished Vietnam and France will continue to maintain this tradition, thus further … [Read more...] about 50th anniversary of Paris Peace Accords marked in France
Leather and footwear industry targets US$27 billion in 2023 exports
The leather and footwear industry is striving to achieve US$27 billion in export turnover this year, an increase of roughly 10% compared to the previous year amid shrinking major markets and falling demand. Illustrative photo In 2022, the sector grew by more than 30%, with one of the reasons behind this high growth being the effective utilization of free trade agreements (FTAs) such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA). Furthermore, the shift of production to be able to use local sources of raw materials to increase the localization rate of raw materials in a bid to meet the requirements relating to the origin of goods under FTAs helped the leather and footwear industry meet the export target. However, many objective factors are forecast to affect the industry’s export growth in the year ahead. According to Phan Thi Thanh Xuan, vice president and general … [Read more...] about Leather and footwear industry targets US$27 billion in 2023 exports