Vinh Phuc pitches for UK investments The northern province of Vinh Phuc pitched its potential, strength and projects in need of investments at a recent seminar in London. Addressing the event, held with the coordination of the Vietnamese Embassy in the UK, Chairman of the Vinh Phuc People's Committee Nguyen Van Tri underlined the province's advantages including favourable geographical conditions, an abundant workforce and good infrastructure. He reported that as of the end of June 2016, Vinh Phuc was hosting 221 foreign-invested projects, including successful ones run by Toyota and Honda of Japan, Piaggio of Italy, and Partron Vina, Heasung Vina, Jahwa and Sindoh of the Republic of Korea (RoK). Ambassador Nguyen Van Thao described Vinh Phuc as a bright spot in terms of economic development in Vietnam. He pledged that the embassy will assist UK businesses in studying opportunities in Vietnam in general and in Vinh Phuc Province in particular. Paul Smith from the UK's Harvey Nash Group, … [Read more...] about BUSINESS IN BRIEF 9/8
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Your Say (28-08-2009) Is it unwise to let foreigners drive right-hand cars in VN? Viet Nam News asked its readers about the Ministry of Transport's proposal to allow foreigners to drive cars with steering wheels on the right-hand side in Viet Nam. Last week we asked readers for their opinions about the Ministry of Transport's proposal that would allow foreigners to drive cars with steering wheels on the right while they visit and stay in Viet Nam. Anucha Kwantientong, Thailand, Bangkok I like travelling to other countries in my own car. Many countries allow cars with the steering wheel on the right to use their roads. When I go to these countries, I practise for a short time in order to get used to their traffic signals and laws. … [Read more...] about Is it unwise to let foreigners drive right-hand cars in VN?
Toyo Ink Group still on look out for power plant partners According to VIR's source, Toyo Ink has been approached by a number of utility firms and independent power producers for equity partnership in the $3.5 billion project. However, no movement has yet been reported. A memorandum of understanding (MoU) was signed by Toyo Ink for the 2,000 megawatt Song Hau 2 coal-fired power plant under a build-operate-transfer (BOT) agreement in 2013. The plant is part of the 5,200 megawatt Song Hau power centre in Hau Giang industrial park. The power centre will be home to three separate power plants, including the 600MW Song Hau 1, operated by Vietnam's state-run oil and gas group PetroVietnam. Toyo Ink's Vietnam representative office head, Nguyen Hung Viet, shared with VIR that the first phase would have a capacity of 1,000MW by 2021 with the second phase generating 2,000MW by 2022. Last year, Toyo Ink's managing director Steven KC Song said that "By inviting other parties to join the … [Read more...] about BUSINESS IN BRIEF 20/7
Binh Dinh mulls constructing MSW power plant Outgrow Energy Consult Co Ltd (OEC) based out of Bangkok, Thailand has unveiled its proposal to oversee construction of an electricity power plant utilizing municipal solid waste (MSW) technology at the Nhon Hoi Economic Zone. Details of the proposition were discussed in specific detail by Tipanan Sirichana, managing director of OEC at a recent meeting with the Binh Dinh Provincial People’s Committee. The Managing director said MSW technology is a more cost effective and environmentally friendly alternative to landfilling or composting technologies, which would require the province to purchase fuel to incinerate the waste. In contrast, MSW facilities are paid by the fuel suppliers to take the fuel (known as a ‘tipping fee’). The tipping fee is comparable to the fee charged to dispose of garbage at a landfill and would result in significant cost savings for the province. OEC specializes in project development services … [Read more...] about BUSINESS IN BRIEF 13/7
Republic of Korea tops foreign investment in first half of 2016The Republic of Korea was the largest foreign investor in Vietnam in the first six months of the year at US$3.99 billion, equivalent to 35.37% of total direct foreign investment. According to the Foreign Investment Agency, Japan and Singapore came second and third with US$1.229 billion and US$1.129 billion poured into Vietnam respectively. In the first six months of 2016, total new and additional pledges were US$11.284 billion, up 105.4% over the same period last year, while disbursement rose 15.1% to reach US$7.25 billion. Foreign investment was poured into 19 sectors, in which manufacturing remained the most attractive, drawing more than US$8 billion, equivalent to 71.4% of total pledges. Real estate came second with US$604.8 million, while sci-tech ranked third with US$562.3 million. Major projects granted licences in the first half of 2016 were LG’s display manufacturing facility in Hai Phong, Samsung’s … [Read more...] about BUSINESS IN BRIEF 4/7