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Consumers have raised concerns over the significant increase in April's electricity bills. (Photo: hanoimoi.vn) Hanoi (VNS/VNA) - Government inspectors will investigate the latest power price increase by 8.36 percent to 1,864 VND (8.03 US cents) per kWh from March 20 following concerns among the public. According to a document sent by the Government Office, Prime Minister Nguyen Xuan Phuc has asked the Government Inspectorate to work with the Ministries of Industry and Trade, and Finance to study the price calculation method of electricity bills and their collection. The inspectorate and the two ministries should clarify whether the electricity price hike was right or wrong and report to the PM by next month. The document said the PM’s decision follows many households complaining about sudden and significant increases in their electricity invoices for April. Deputy Minister of Industry and Trade Do Thang Hai said the ministry shared people’s concerns about the … [Read more...] about Government inspectors to investigate power price hike

  Việt Nam National Oil and Gas Group (PetroVietnam) will be under financial supervision this year. — Photo cafef.vn HÀ NỘI — The Commission for the Management of State Capital at Enterprises (CMSC) this year will oversee the finance of 19 State-owned groups and corporations. The CMSC will review the operating effectiveness of the businesses to help them set targets and improve competitiveness. It also expects to help them follow laws and regulations on management and use of State capital and assets. In addition, the commission will discover shortcomings and help the businesses resolve the issues. Its work also aims to enhance financial transparency at State-owned enterprises. The 19 groups include the Việt Nam National Oil and Gas Group (PetroVietnam), Việt Nam Electricity (EVN), Việt Nam National Coal and Minerals Holding Group (Vinacomin), Việt … [Read more...] about 19 State-owned groups to be under financial supervision

  Customers at a Mobifone store in Hà Nội. Mobifone is one of 19 firms under the Commission for the Management of State Capital at Enterprises (CMSC)'s supersivion. — VNS Photo Đoàn Tùng HÀ NỘI — The Committee for Management of State Capital at Enterprises (CMSC) plans to strengthen the supersivion and management at 19 State-owned groups and corporations. According to CMSC, the supervision will enhance business responsibility in compliance with regulations related to the use of capital and assets and detect shortcomings in production and business. Under the plan, CMSC will focus on three tasks: maintenance and development of State capital, supervision over firms’ activities in projects as well as review the operations to help set targets and improve competitiveness while following laws and regulations on management and use of State capital and assets. All the work aims … [Read more...] about 19 State-owned groups to undergo financial supervision

The State Capital Investment Corporation (SCIC) successfully sold capital in 999 enterprises as of June 30, said Deputy General Director Le Song Lai during a conference on July 17. Lai said the SCIC sold all capital in 896 firms, and part in 84 others, and collected over 47 trillion VND (2.04 billion USD) from selling purchasing rights in 19 businesses, or 4.2 times higher than the prime cost. Also as of June 30, the SCIC managed a total of 144 companies with a total book value of nearly 29 trillion VND out of the chartered capital of upwards 99.5 trillion VND. SCIC General Director Nguyen Chi Thanh said as a State capital management agency and shareholder of businesses, the corporation has increasingly improved its management capacity to bring optimal results to firms. In the near future, it will work with competent authorities to fine-tune legal regulations on SCIC’s representatives in enterprises, including salaries, incentives and policies for them after State capital in … [Read more...] about State capital investment corporation successfully sells capital in nearly 1,000 firms

Infrastructure More power grids needed to unlock renewable energy capacity The Saigon Times Daily Tuesday,  Nov 19, 2019,13:29 (GMT+7) More power grids needed to unlock renewable energy capacityThe Saigon Times Daily Wind towers at a wind-energy farm in Ninh Thuan Province. Solar and power projects in central Vietnam are suffering reductions in power generation as 110kV grids have failed to transmit electricity to 220kV and 500kV transmission lines – PHOTO: VNA HCMC – The Ministry of Industry and Trade has proposed the prime minister allow for more power grid projects than earlier planned to handle the high capacity of wind and solar power projects in the south-central provinces of Ninh Thuan and Binh Thuan. Pham Van Hau, vice chairman of Ninh Thuan Province, told Thanh Nien newspaper that it is imperative to develop more power grid projects for the sake of power generation. “We are aware that the … [Read more...] about More power grids needed to unlock renewable energy capacity