Risk of shortages in the south EVN Deputy General Director Ngo Son Hai said only seven coal-fired power plants with a capacity of 7,860MW are currently under construction. The revised Power Development Plan (PDP7) for the 2011-2020 period with a vision to 2030, projected total capacity of 34,864MW during the 2018-2022 period, of which thermal power makes up 26,000MW. Accordingly, over 18,000 to 26,000MW of coal thermal power capacity was expected to be available in the next five years, but construction on these plants has not started and this will greatly affect power supply, Hai said. In addition, natural gas resources currently exploited in the country have declined, but there is no alternative gas supply. The gas projects of Bloc B and Ca Voi Xanh are moving slowly compared with the plan, while construction of coal ports in the Mekong Delta is facing difficulties. Ngo Son Hai also said that while power supply in 2019 and 2020 could be ensured, shortages could occur in the south … [Read more...] about EVN gives measures to overcome lagging power supply projects
Fruits and veggies join Vietnam’s export staples
The Hanoitimes - With a growth rate of 14% year-on-year, it is estimated that exports of vegetables and fruits could reach US$4 billion by the end of 2018, Tien Phong newspaper reported. Export turnover of Vietnam's fruits and vegetables in the first eight months of 2018 stood at a record high of US$2.7 billion, up 14.1% year-on-year and US$500 million higher than the revenue from rice exports, according to the General Department of Vietnam Customs (GDVC). Illustrative photo. With a growth rate of over 14% year-on-year, it is estimated that exports of vegetables and fruits could reach US$4 billion by the end of 2018, marking the second consecutive year that revenue from those products is higher than that of rice. China remained Vietnam's largest fruits and vegetables importer with US$1.99 billion, up 11.6% year-on-year and accounting for 74.1% of Vietnam's total export value of fruits and vegetables. The US came in second place with US$87 million, … [Read more...] about Fruits and veggies join Vietnam’s export staples
China might avoid Trump tariffs by exporting via Vietnam
Economist Vu Dinh Anh said it is “highly possible” that Chinese businesses would seek to export their goods through Vietnam to the U.S. amid the trade war between the world’s two largest economies. One way they can do this is by exporting their products to Vietnam and asking a Vietnamese business to label them as “made in Vietnam,” he told VnExpress International. They can also set up factories in Vietnam and manufacture products with materials imported from China, he added. “This will result in bad consequences for Vietnam as the U.S. might impose the same tariffs on Vietnam as it did on China.” Vietnam’s textile and footwear industry insiders expressed the same concern. Pham Xuan Hong, chairman of the HCMC Association of Garment, Textile, Embroidery and Knitting, said it is possible Chinese garment products would be labeled as made in Vietnam and exported to the U.S. “We propose that the government control this situation by … [Read more...] about China might avoid Trump tariffs by exporting via Vietnam
Fault at tech giant blamed as many Vietnamese online newspapers vanish for hours
The newspapers hit reportedly included the popular Thanh Nien, Tien Phong, Sai Gon Giai Phong, Voice of Vietnam, Zing, and Bao Moi, all of which use the ePi content management system hosted on VinaData, a data center owned by tech company VNG. According to an email VinaData sent to its clients, the disruption – which began at 9 a.m. -- was due to a power cut at Quang Trung Software City (QTSC) in HCMC, where the data center is located. In addition to the news sites, VNG services such as music player application Zing MP3, messaging application Zalo, online television service Zing TV, payment gateway ZaloPay, and VNG's online games also became inaccessible. After power supply resumed, the online newspapers and Zing's services came back on at around 4:30 p.m. But Zalo, ZaloPay and VNG's online games remained inaccessible as of 11 p.m. Sunday. VNG's services are widely used in business and communication. Speaking to the media Sunday afternoon, Nguyen Tan Hung, public relations chief … [Read more...] about Fault at tech giant blamed as many Vietnamese online newspapers vanish for hours
Asian firms shuffle production around the region as China tariffs hit
Companies including SK Hynix of South Korea and Mitsubishi Electric, Toshiba Machine Co. and Komatsu of Japan began plotting production moves since July, when the first tariffs hit, and the shifts are now under way, company representatives and others with knowledge of the plans told Reuters. Others, such as Taiwanese computer-maker Compal Electronics and South Korea’s LG Electronics, are making contingency plans in case the trade war continues or deepens. The company representatives and other sources spoke on condition of anonymity because of the sensitivity of the issue. The quick reactions to the U.S. tariffs are possible because many large manufacturers have facilities in multiple countries and can move at least small amounts of production without building new factories. Some governments, notably in Taiwan and Thailand, are actively encouraging companies to move work from China. The United States imposed 25 percent duties covering $50 billion of Chinese-made goods in July, and … [Read more...] about Asian firms shuffle production around the region as China tariffs hit