Vietnams monetary policy

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

Projects such as Bunge’s agribusiness are expected to increase in number through stronger US ties. Photo: Le Toan In his first few days in office five years ago, President Donald Trump withdrew from the Trans-Pacific Partnership, which was a pillar of the Barack Obama administration’s pivot towards Asia. The remaining 11 member states have since reframed the agreement as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and President Joe Biden’s commitment to rebuilding relations with allies has sparked speculation about the US returning to the fold. Fitch Solutions under global ratings firm Fitch Group told VIR in a statement that Vietnamese trade would receive a surefire boost should new Biden decide to rejoin the CPTPP. “Biden stated in 2019 that the US should renegotiate parts of the CPTPP and re-assemble a coalition to counterbalance China’s perceived expansionist policies. The Trump administration withdrew from the original deal in 2017 … [Read more...] about Fresh dawn kindles for US-Vietnam relationship