(VEN) - The Power Generation Corporation 1 (EVNGENCO 1) will focus on harnessing fuel sources for the operation of thermal power plants to ensure sufficient power supplies in the 2018 dry season. Electricity demand is growing at around 11 percent a year in Vietnam, which relies largely on coal-fired and hydro power plants. In the first quarter of the year, the corporation’s power output reached nearly 7.77 billion kWh, equal to 22.6 percent of the yearly plan, including nearly 1.97 billion kWh from hydropower and more than 5.8 billion kWh from thermal power. Total value of investment-construction volume in power projects owned by EVNGENCO 1 reached more than VND3.18 trillion in the first quarter of the year, while those invested by the parent company, Electricity of Vietnam (EVN), stood at around VND738 billion. The corporation is urgently completing projects and deploying capital for additional key projects. At the end of March 2018, the corporation submitted an equitization … [Read more...] about EVNGENCO 1 seeks to ensure power supply in dry season
Billions season 1
Vinh Tan 1 thermal plant to reduce power thirst in southern provinces
The $1.75-billion Vinh Tan 1 thermal power project, the largest Chinese-invested project in Vietnam, will come into commercial operation ahead of schedule after concerns of potential power shortages in the southern provinces in the time to come. The Vinh Tan 1 thermal power project in Binh Thuan province According to the latest report of Vinh Tan 1 thermal power project, its first unit will come into commercial operation in July 2018, five months earlier than initially scheduled. Phan Ngoc Cam Thanh, deputy director of Vinh Tan 1 told the National Steering Committee for Power Development that after 1,025 consecutive days of construction, the project is now 93 per cent complete. “We target to push forward the date of commercial operations,” said Thanh. On April 18, 2018, the first unit of Vinh Tan 1 was successfully connected to the national grid and met all standard requirements during the testing as well as operation. Member of the National Steering Committee for … [Read more...] about Vinh Tan 1 thermal plant to reduce power thirst in southern provinces
Social News 29/1
Exhibition praises victory of 1968 Tet OffensiveCommando Ba Mu (whose real name is Do Van Can) disguised himself as a rubber latex collector to fool the enemy. He used a tricycle to transport weapons to serve the South Vietnam liberation forces during the 1968 Tet Offensive.The tricycle is on display at exhibition that has opened in Hanoi.Entitled The Epic of the 1968 Tet Offensive, the exhibition celebrates the 50th anniversary of the victory of the campaign.The exhibition displays more than 300 images, documents and objects. Ba Mu’s tricycle is one among many objects showcased to the public for the first time.The exhibition is divided into three parts: devotion for the battlefield, the historical turning point and echoes of the epic. They depict the determination of Vietnamese people and soldiers in fighting for peace and liberation.“The Military History Museum of Vietnam organised the exhibition with the aim of asserting the historical magnitude and significance of the … [Read more...] about Social News 29/1
Now is the season of deadly booze
HÀ NỘI — As Tết (Lunar New Year) draws near, several Hà Nội citizens have been hospitalised with alcohol poisoning, which is often caused by home-made spirits. Every day for the last two weeks, doctors at Bạch Mai Hospital’s Poisoning Control Centre treated patients suffering from alcoholic poisoning. Some required emergency treatment. They were from different age groups and were from all walks of life, including university students. After drinking at several year-end parties in four consecutive days, a 47-year-old Hà Nội resident was taken to the centre in a drowsy state and with poor vision. His blood pressure had dropped and then his heart stopped beating and had to be restarted. He was later found to be suffering from severe brain damage from methanol poisoning. Tests showed there was 300mg of methanol in 100ml of his blood, 15 times higher than the safety limit (20mg/100ml of blood). The hospital later … [Read more...] about Now is the season of deadly booze
Vietnam’s export of agro, forestry and seafood products records US$36.4 billion
The export of major agricultural products was estimated at $18.96 billion, a year-on-year growth of 15.7 per cent and that of seafood at $8.32 billion, 18 per cent higher than last year. The export value of forestry products in 2017 is estimated at $7.97 billion, an increase of 9.2 per cent year-on-year. The nation also saw strong growth in rice exports in December with a volume of 426,000 tons worth $199 million. Total rice exports for the year reached 5.89 million tons, earning $2.66 billion, a year-on-year surge of 22.4 per cent in volume and 23.2 per cent in value. China continued to be the largest buyer of Vietnamese rice, accounting for 39.5 per cent of the total exports. Export of agro, forestry and seafood products in 2017 rose 13 per cent against last year. Rubber, tea, cashew nuts and other produce also saw high growth in 2017. Rubber exports reached 1.39 million tons worth $2.26 billion for a year-on-year increase of 11 per cent and 35.6 per cent, respectively, in … [Read more...] about Vietnam’s export of agro, forestry and seafood products records US$36.4 billion
Vietnam’s foreign reserves at all-time high of US$52 billion
Previously, Governor Hung told National Assembly deputies on November 16 during a plenary session that the central bank had increased its buffer fund by $7 billion in 11 months to bring the sum to $45 billion. The rise in the reserve fund in the past month has been driven by the purchase of foreign currency paid by Thai Beverage for a majority stake in Sabeco, the country’s biggest beer producer, according to the central bank. Thai Beverage, through a Vietnamese subsidiary on December 18 won a bid to acquire a 53.6% stake of Sabeco for $4.84 billion, the biggest share sale in Vietnam to date. The rise of the country’s foreign reserves was reported in the context of the foreign exchange rate in the domestic market being relatively stable. A few years ago, the exchange rate usually fluctuated widely towards the year-end due to seasonal factors. In particular, the USD/VND rate has undergone little change, although the US Federal Reserve raised its benchmark … [Read more...] about Vietnam’s foreign reserves at all-time high of US$52 billion
Vietnam’s forex reserves forecast to hit US$48 billion by end-2017
The State Bank of Vietnam (SBV) has bought in another US$1.5 billion worth of hard currencies over the past month. Previously, SBV Governor Le Minh Hung told National Assembly deputies on November 16 during a plenary session that the bank had increased its buffer fund by US$7 billion in 11 months to bring the sum to a record high of US$45 billion. The rise was reported in the context of the foreign exchange rate in the domestic market being relatively stable. It is estimated that the daily reference VND / USD exchange rate listed by the central bank in the first nine months increased by 1.4 per cent against earlier this year, while the rate in the unofficial market declined by 1.5-1.7 per cent. The central bank has bought in another US$1.5 billion worth of hard currencies over the past month. According to the central bank, the liquidity of the domestic foreign exchange market was good and met the demands of local organizations and individuals. It is noteworthy that … [Read more...] about Vietnam’s forex reserves forecast to hit US$48 billion by end-2017
Breakfast @ Tuoi Tre News – January 1 Info Alert Alert Chia sẻ bài viết qua e-mail
Read what is in the news on the first day of 2018: Society -- A healthy baby girl weighing 3.2 kilograms has become the first to be born in Ho Chi Minh City in 2018, “saying ‘hello’” to the world from Tu Du Hospital at 12:00 am on Monday. -- Corruption and wastefulness remain among the biggest threats to the survival of the regime and the Communist Party of Vietnam, Vietnamese State President Tran Dai Quang told the media on the New Year occasion.-- Hotels and accommodations in tourist hot spots such as Vung Tau, Binh Thuan and Da Lat were fully booked for New Year’s Eve as families traveled for the holiday break, with room prices being raised by around 150 percent compared to regular days. -- Six vessels caught illegally mining river sand on the Thu Bon River in central Vietnam’s Quang Nam Province have been taken in by local police, with the total volume of mined sand estimated to be nearly 300 cubic meters.-- The price of land on … [Read more...] about Breakfast @ Tuoi Tre News – January 1 Info Alert Alert Chia sẻ bài viết qua e-mail
Vietnam’s forex reserves soar to record-setting US$48 billion
It meant that the SBV has brought in another US$3 billion worth of hard currencies over the past month. Previously, Governor Hung told National Assembly deputies on November 16 during a plenary session that the bank had increased its buffer fund by US$7 billion in 11 months to bring the sum to a record high of US$45 billion. The rise was reported in the context of the foreign exchange rate in the domestic market being relatively stable. A few years ago, the exchange rate usually fluctuated widely towards the year-end due to seasonal factors. In particular, the USD/VND rate has undergone little change, although the US Federal Reserve raised its benchmark interest rates by 0.25 percentage points for the third time, effective December 14. As the US rate increase was well-anticipated, the local forex market did not react negatively to the Fed’s rate announcement. The USD/VND rates were kept almost unchanged on December 15, a day following the rate hike. Across … [Read more...] about Vietnam’s forex reserves soar to record-setting US$48 billion
Vietnam’s forex reserves soar to record-setting 48 billion USD
Foreign curency exchange at the Ho Chi Minh City Development Bank (Photo: VNA)Hanoi (VNS/VNA) - Vietnam’s foreign currency reserves hit approximate 48 billion USD thanks to the country’s stable macroeconomic conditions andstrong influx of exports, foreign direct investment (FDI) and remittance,according to State Bank of Vietnam (SBV)’s Governor Le Minh Hung.It meant that the SBV has brought in another 3 billion USD worthof hard currencies over the past month.Previously, Governor Hung told National Assembly deputies on November16 during a plenary session that the bank had increased its buffer fund by7 billion USD in 11 months to bring the sum to a record high of 45 billion USD.The rise was reported in the context of the foreign exchange rate in thedomestic market being relatively stable. A few years ago, the exchange rateusually fluctuated widely towards the year-end due to seasonal factors.In particular, the USD/VND rate has undergone little … [Read more...] about Vietnam’s forex reserves soar to record-setting 48 billion USD