Although Thailand’s Gulf Group is betting on several renewable energy projects in Vietnam, it remains uncertain if all projects will come online in time to meet their commercial operation dates. Gulf Energy Development Plc., listed on the Stock Exchange of Thailand, has seen its shares rocket by 50 per cent since the group’s announcement of wind and solar projects in Vietnam was unveiled last August, while billionaire founder Sarath Ratanavadi’s fortune has surged $1 billion since December alone, as investors cling to news of the group’s movements in the country, according to Bloomberg. Gulf has teamed up with Thanh Thanh Cong, one of the leading conglomerates in Vietnam operating energy and industrial estate with assets of about $1.9 billion, to carry out three solar projects and one offshore initiative. They include the TTCIZ O1 and TTCIZ 02 solar power projects in the southern province of Tay Ninh, and a … [Read more...] about Gulf battles to achieve goals
Investing
Pedal to the metal in auto production
Manufacturers like VinFast must keep pace with innovations in the automotive industry, Photo: Le Toan Lee Jae Seung, CEO of auto parts maker PHA Vietnam, said, “Once our automotive parts manufacturing project comes online in September, our products will serve big car manufacturers like Volkswagen, BMW, Audi, Ford, and Hyundai.” PHA Vietnam is led by a group of Pyeong Hwa Automotive, YMP Plus, Dong Yang Vina Industry Co., Ltd., and MiChang Vietnam. They started construction of four automotive parts manufacturing plants with the total investment capital of $32.3 million in the northern city of Haiphong’s DEEP C Industrial Zones late last year. The move aligns with the Vietnamese government’s policies on promoting investment in the local supporting industries. Gaining a competitive edge Daniel Doni Sundjojo, business development manager at JATO Dynamics, which globally provides data for analysis of market trend vehicles and cars, said, “When we talk about … [Read more...] about Pedal to the metal in auto production
Inter state partnership to combat climate change
Vietnam and the Netherlands are further boosting strategic co-operation in water management and adaption to climate change as part of a plan for the two nations to forge a bilateral comprehensive partnership. Vietnam is expanding its strategic partnership with the Netherlands in preventing flooding and climate change adaptation, Photo: Le Toan Last week, Dutch Minister of Infrastructure and Water Management Cora van Nieuwenhuizen and Vietnamese Deputy Prime Minister Trinh Dinh Dung witnessed the signing of the letter of co-operation between the Vietnam Academy for Water Resources and the Netherlands Embassy to Vietnam. Also inked was an agreement on implementation of the Orange Knowledge Programme, a Dutch expertise programme for developing countries, involving Vietnam’s Hanoi University of Natural Resources and Environment and the Water Resources University, and the Netherlands’ Delft University of Technology, and the University of Twente. These moves, which are … [Read more...] about Inter state partnership to combat climate change
PM calls for progress on metro line
Ho Chi Minh City authorities are seeking approval for an advance sum of nearly $100 million from the government budget to pay foreign contractors, thus making the progress to put Vietnam’s first metro line into technical operation by the end of next year. Prime Minister Nguyen Xuan Phuc asked the city and the contractors to ensure the works stay on schedule Photo: Le Toan In his visit to the metro line construction site last week, Prime Minister Nguyen Xuan Phuc asked related government agencies to consider the city authorities’ proposal and submit solutions to the government within a week. The Ben Thanh-Suoi Tien route is being implemented through official development assistance. As per the mid- and long-term investment capital plan towards 2020, the project was arranged a fund of VND7.5 trillion ($326 million). In 2016 and 2017, VND2.71 trillion ($117.8 million) was disbursed. However, VND4.79 trillion ($208 million) was not disbursed for 2018 and 2019 due to … [Read more...] about PM calls for progress on metro line
Dutch partnership rising to comprehensive status
Prime Minister of the Netherlands Mark Rutte What have been the most important achievements during your official visit to Vietnam? I had a meeting with Prime Minister Nguyen Xuan Phuc, my dear friend. While here, I have seen that Vietnam’s vibrancy and the level of sustainability are commendable and I am really impressed with that. Vietnamese people remain very nice and hard-working. We also had intensive discussions with Party General Secretary, State President Nguyen Phu Trong and National Assembly Chairwoman Nguyen Thi Kim Ngan, as well as very nice meetings with people from the business community. The visit was accompanied by a large Dutch business delegation, and many contracts have been signed in agriculture, water management, offshore wind energy, and logistics. We have been able to further our friendship with the Vietnamese prime minister, and of course between the two countries. What will be the focus for bilateral co-operation between Vietnam and the … [Read more...] about Dutch partnership rising to comprehensive status