Vietnam needs over US$128 billion for power investment next 10 years A drone is used to inspect a power transmission system in Vietnam. The country will need an estimated US$128.3 billion for developing the power system in the next decade The Institute of Energy, under the Ministry of Industry and Trade, on February 22 continued to collect feedback over the plan from the relevant agencies. According to the plan, during the 10-year period, Vietnam will need to pour some US$12.8 billion on average into the power sector per year. The total investment for the following 15 years from 2031 to 2045 will be some US$192 billion, including some US$140 billion for power sources and US$52 billion for the grid. The draft zoning plan also revealed that Vietnam will continue to import electricity from China, Laos and Cambodia in the next 10 years. The State-run Vietnam Electricity Group is purchasing electricity from China through two 220kV power lines, with 1.5 billion kWh of power being bought annually during the 2016-2020 period. This northern neighboring market can sell up to 3,000 MW of electricity or more to Vietnam from now until 2030. Petrol prices rise under latest adjustment The Ministries of Industry and Trade and Finance revised petrol prices upwards as of 3pm on February 25, marking the first increase since the traditional Lunar New Year (Tet) holiday. The retail price of E5RON92 bio-fuel rose nearly 700 VND to 17,031 VND (0.74 USD) per litre at a maximum, while that of RON 95 increased over 700 VND to 18,084 VND per litre. Diesel 0.05S and kerosene, meanwhile, are now no more than 13,843 VND and 12,610 VND per litre, up by around 800 VND and 700 VND, respectively. According to the two ministries, the prices of petrol and oil in the global market have been rising strongly for 15 days, hence the adjustment. The two review fuel prices every 15 days to ensure domestic prices are in keeping with the global market./. Aquatic product …
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Fresh dawn kindles for US-Vietnam relationship
Projects such as Bunge’s agribusiness are expected to increase in number through stronger US ties. Photo: Le Toan In his first few days in office five years ago, President Donald Trump withdrew from the Trans-Pacific Partnership, which was a pillar of the Barack Obama administration’s pivot towards Asia. The remaining 11 member states have since reframed the agreement as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and President Joe Biden’s commitment to rebuilding relations with allies has sparked speculation about the US returning to the fold. Fitch Solutions under global ratings firm Fitch Group told VIR in a statement that Vietnamese trade would receive a surefire boost should new Biden decide to rejoin the CPTPP. “Biden stated in 2019 that the US should renegotiate parts of the CPTPP and re-assemble a coalition to counterbalance China’s perceived expansionist policies. The Trump administration withdrew from the original deal in 2017 under the pretext that it would harm US workers. A scenario where the US rejoins the CPTPP would deliver substantial tailwinds to Vietnamese exports to the US from lower tariffs in major export categories,” Fitch said. In fact, the CPTPP may offer great windfalls to the US. Statistics from law firm Duane Morris Vietnam LLC showed that the population of the CPTPP countries exceeded 513 million people as of October 2020. The CPTPP countries account for nearly 45 per cent of US total exports and 37.6 per cent of US general imports in 2014. By cutting over 18,000 taxes in regards to CPTPP, there would be a great benefit for American importers and exporters by enabling them to enter new markets. As the United States International Trade Commission estimates, the US exports of goods and services to the world would expand by $27.2 billion by 2032 thanks to the CPTPP, while US imports would expand by $48.9 billion. Oliver Massmann, general director of Duane Morris Vietnam LLC, pointed out …
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Historic Củ Chi Tunnels site seeks UNESCO World Heritage Site recognition
The Củ Chi tunnels were the location of several military campaigns during the Vietnam War. Photo courtesy of Củ Chi Tunnels By Xuân Đăng When people think of the most modern and crowded city in Việt Nam, HCM City first comes to mind. But the city, the country's largest, also has a great deal of historical value related to the wars of resistance against the French and Americans to offer interest to tourists as well as locals. One of the most fascinating destinations is Củ Chi guerrilla warfare tunnels, located about 70km from downtown HCM City. Built by South Vietnamese liberation forces as shelter from US and Sài Gòn troops during the war, the site is known over the world, but even many locals have yet to visit the tunnels. The entrance of one of the guerrilla warfare tunnels in Củ Chi. VNS Photo Xuân Đăng Revolutionary spirit First formed in 1948 during the resistance war against the French colonialists, the original network of tunnels was in Tân Phú Trung and Phước Vĩnh An wards. Initially, the tunnels had only short paths and simple structure that were used to hide documents, weapons and resistance members deep inside the enemy-controlled area. Only during the anti-American war were the tunnels reinforced and widened. Beginning in 1961, when the Party Committee and headquarters of the Sài Gòn-Gia Định Military Region of the liberation forces chose Củ Chi as an operating area, the tunnel system maximized its use for years, especially in 1966, against the Americans broadening the war in the South. Shelter's entrance camouflaged with fallen leaves surprised foreign visitors. Photo vietnamtourism.gov.vn With their indomitable strength, Củ Chi’s resistance forces and local people created a system of crisscrossing tunnels with multiple floors, with more than 200km of underground trenches in total. For a long time, the enemy attacked the base and the tunnel network relentlessly by pumping water into the tunnels, using …
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