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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

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

US President Joe Biden(C) leaves Holy Trinity Catholic Church in the Georgetown neighborhood of Washington,DC on January 24, 2021. Joe Biden has begun his presidency with sharp breaks from Donald Trump in both substance and tone, from climate change to immigration to a general openness to working with the rest of the world.(Nicholas Kamm / AFP) Biden will also on Monday extend the ban to travelers who have recently been to South Africa amid warnings that new, more transmissible coronavirus variants are already establishing themselves in the United States, the official said, confirming US media reports. The new president last week tightened mask wearing rules and ordered quarantine for people flying into the United States, as he seeks to tackle the country's worsening coronavirus crisis. Biden has said that the Covid-19 death toll would likely rise from 420,000 to half a million next month -- and that drastic action was needed. "We're in a national emergency. It's time we … [Read more...] about Biden to reinstate Covid travel bans: White House official