INDUSTRY

Hoa Khanh Industrial Park in the central coastal city of Da Nang was selected to participate in the pilot ecological industrial project in Vietnam Ecological industrial parks are recognized increasingly as an effective model that can help IPs develop on a sustainable basis with decreasing consumption of natural resources. According to Tuong Anh, representative of the organization for construction of technical guidelines for EIPs in Vietnam, environmental management and natural resources efficiency, cleaner production and green infrastructure are the core values of an EIP. Successful EIPs are found in many countries including China, the Republic of Korea (RoK), Japan, the US, Australia, and European countries, Anh said. In 2018, the government issued Decree 82/2018/ND-CP to facilitate EIP development and help Vietnam’s implementation of its green growth strategy. The International Finance Corporation (IFC) worked with the Ministry of Planning and Investment to construct … [Read more...] about Vietnam launches ecological industrial parks

The Hanoitimes - “The Vietnamese government is ready to experience new things such as fintech, high-tech taxis and even looking forward to the Sandbox framework." Facebook Vietnam’s former CEO takes charge of ride-hailing app Go-Viet South Korean’s ride-hailing app Tada to offer service in HCM City this month Ride-hailing Go-Viet kicks off full operation in Vietnam Ride-hailing Grab fears no competitors: Co-founder Minister of Information and Communications Nguyen Manh Hung has stressed that Vietnam strongly supports the development of technologies and business models such as fintech and ride sharing app. Besides, in 2019, the government allows, on a trial basis, the payment with mobile phones. Payment with smartphones (mobile money) might be in conflict with the banking system and few countries in the world are willing to apply.   Overview of the forum. Photo by Cafef “The Vietnamese government is ready to experience new things such as … [Read more...] about Vietnam opens its mind for fintech and ride-sharing service

(VEN) - The results of industrial production and trade in the first quarter of 2019, though below expectations, were satisfactory compared with other countries in the region and worldwide. The export structure of the first quarter of 2019 showed positive changes According to Duong Duy Hung, Director of the Ministry of Industry and Trade (MoIT)’s Planning Department, the index of industrial production (IIP) in the first quarter grew 9.2 percent compared with the same period last year. The IIP of the processing and manufacturing industries grew 11.1 percent. These results were satisfactory compared with those in the 2012-2017 period. Meanwhile, the global Purchasing Manager Index has decreased, Hung said. In Vietnam, this index has dropped from 51.9 points to 51.2 points. In ASEAN, it has also been down from 49.7 points to 49.6 points. In this context, the industrial production and trade results Vietnam achieved in the first quarter of 2019 could be said to … [Read more...] about Industrial production and trade: Satisfactory Q1 results

The Hanoitimes - Senior government officials said that electricity and gasoline are items leaving impacts on the economy and catching public attention. PM orders checking of power price hike following social outcry Vietnamese media has questioned the Ministry of Industry and Trade (MOIT) about labeling “secret” the plans for raising electricity and gasoline prices.   Government April meeting with the chairmanship of Chairman Mai Tien Dung. Photo: VGP VnExpress asked the MOIT at the government’s regular meeting last weekend why it tagged the adjustment of power and gasoline prices as “state secret” and basing on what ground. In response, Deputy Minister of MOIT Do Thang Hai said that the ministry keeps the plans unrevealed before the official announcement with an aim to avoid any unexpected impacts on the society due to the crucial role of electricity and petroleum in the economy.  Hai attributed the Law on Protecting State … [Read more...] about Why does Vietnam label plans on energy price hike “secret”?

The Hanoitimes - A large number of households found a sudden rise in their electric bills in April. Vietnam may face power price hike in 2019 Vietnam may hike power prices in 2019 Power price hike puts more pressure on inflation next year Vietnam raises electricity prices by 8.36% today, to 8 US cent/kWh Vietnam likely to raise electricity prices by 8.36% in March Vietnam’s Prime Minister Nguyen Xuan Phuc has asked the Government Inspectorate (GI) to check the rise of 8.36% in the power prices which Electricity of Vietnam (EVN) made in March amid public indignation.  A hydropower plant of EVN. Illustrative photo The GI needs to work with the Ministry of Industry and Trade (MOIT), which manages EVN, and the Ministry of Finance to check the calculation of electricity prices and the bill collection since the price hike. The PM’s decision was made after a large number of households criticized EVN for a sudden rise in their electric bills in … [Read more...] about PM orders checking of power price hike following social outcry