Governance to economic growth

This is a plan in the national census carried out by the General Statistics Office of Vietnam to evaluate the growth in quantity, size, and labor of economic establishments, thereby, using it as a basis to set out socio-economic development strategies in the coming time, meeting the management requirements of the Party, State, ministries, industries, and localities. HCMC currently has more than 300,000 enterprises, accounting for one-third of the total number of enterprises across the country. To carry out this large-scale survey, from May last year, the central government and the city have conducted several preparations, including building plans, designing questionnaires, developing information processing software and preparing information infrastructure, recruiting and training staff for the census, and reviewing census units. The 2021 economic census will take place nationwide, divided into two phases. Of which, Phase 1, starting from March to mid-May this year, will collect … [Read more...] about HCMC to launch 2021 economic census from March 1

The Hanoitimes - Vietnam's solar power sector holds much potential thanks to rising demand and a supportive regulatory framework. Coupled with an increasingly supportive regulatory environment and an expected surge in electricity consumption over the next decade, Vietnam’s renewables sector is poised for a new dawn, bringing great opportunities for investors. The outlook for growth in Vietnam’s renewables sector is positive and untapped solar power potential remains substantial, according to Daine Loh, research analyst at Fitch Solutions. The solar segment is one of the key drivers of this impressive growth, he said. Vietnam's estimated solar capacity by 2028. Photo: Fitch Solutions Increasing power demand Vietnam is set for a surge in power demand and consumption over the coming decade which largely stems from an expanding industrial and manufacturing sector, particularly as the ongoing US-China trade war plays out. In addition, positive … [Read more...] about Investors see great opportunities in Vietnam’s solar power

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 … [Read more...] about VIETNAM BUSINESS NEWS FEB. 26

MPI proposes a draft decree on procurement bidding under CPTTP MPI proposes a draft decree on procurement bidding under CPTTP The Ministry of Planning and Investment (MPI) has summited to the Government a draft decree on amending Decree 95/2020/ND-CP providing guidelines on procurement bidding under the Comprehensive and Progressive Trans-pacific Partnership Agreement (CPTTP). According to the MPI, the draft decree will amend and supplement some articles of Decree No 95. It aims to guide State companies to execute bidding packages under the CPTTP agreement and EU-Việt Nam Free Trade Agreement (EVFTA). However, per the Government's Resolution No 190/NQ-CP on the provisional application of the UK-Việt Nam FTA (UKVFTA), Việt Nam agreed to temporarily apply the UKVFTA from January 1, 2021. The agreement was negotiated based on the principle of inheriting commitments in the EVFTA with necessary adjustments to ensure compliance with the bilateral trade framework between Việt Nam … [Read more...] about VIETNAM BUSINESS NEWS FEB. 27

Amid difficulties, many Vietnamese businesses are still staying firm and seeking opportunities to rise up. The Vietnamese spirit has helped them survive and prosper, further developing the economy. The year 2020 was an extremely challenging period. But the challenges showed Vietnam’s strength and bravery. Not fearful of hardships nor shrinking from difficulties, the Vietnamese spirit stems from the history of the country. The whole nation stands side by side, joining forces to cope with difficulties. Prime Minister Nguyen Xuan Phuc said Vietnam always has an existing "vaccine" – the resilience which allows Vietnamese to advance forward and cope with all obstacles. The Vietnamese spirit demonstrated in 2020 reminds Trinh Van Quyet, president of FLC Group, of a bamboo tree, an important symbol of Vietnam’s culture and daily life. It is flexible, resilient and able to adapt to harsh conditions. These were the virtues that helped Vietnam’s businesses overcome the stormy year of … [Read more...] about Businesses stay steadfast and flexible like bamboo, despite pandemic