Entertainment industry makes most money

Increasing demand Nguyen Tuan Anh, Deputy Director of the Electricity and Renewable Energy Authority under the Ministry of Industry and Trade (MoIT), said that new power sources expected to be put into operation in the 2022-2025 period will not keep up with the load growth, making it increasingly difficult to ensure stable supply and risking peak capacity shortage in the northern region from May to July. Transmission of renewable energy sources remains limited Nguyen Tuan Anh explained that about 10 major power projects in which Electricity of Vietnam (EVN) is not invested, are behind schedule bringing capacity shortage to about 7,000 MW, which will affect power supply. Meanwhile, renewable energy sources (solar and wind power) have been significantly supplemented, but transmission of the energy remains limited, likely resulting in local electricity shortages at times. Tuan Anh also said that according to the MoIT’s Electricity Master Plan VIII, the demand for … [Read more...] about Transparency needed to draw power industry capital, officials say

Speakers joining the Industrial Property Forum 2022 organised by Vietnam Investment Review in Ho Chi Minh City on May 24 agreed that eco-industrial parks not only meet the needs of tenants but also are consistent with the government's sustainable development orientation. Nguyen Chi Toan, head of Marketing at VSIP South & Central said, “The aim is to create an industrial lifestyle that includes living, working, resting, and entertaining in sync. Thus, a multi-functional industrial park (IP) will be established, creating a new residential area with an industrial rhythm.” Toan added, “Entering Vietnam in 1996 with the single-function IP. In 2006, when we started to develop VSIP II with an area of over 2,000 hectares. We target to become an industrial-urban-service complex. To date, VSIP II’s occupancy ratio is 99 per cent, attracting 340 projects with a total investment capital of approximately $5 billion,” Toan said. A highlight of VSIP’s development strategy are the … [Read more...] about Trend to develop eco-industrial parks dominates at forum

A cardholder is experiencing the use of a chip-based citizen ID card to withdraw money in Hanoi. He then listed the benefits of using this ID card to withdraw money, compared to the use of traditional ATM cards. Firstly, the procedure has a double level of security, one from the bank and the other from the chip itself. When the process begins, a special scanner captures a portrait and fingerprint of card owners to compare with existing biometric data saved in the chip of the ID card. Matching data ignite the next steps of withdrawing money as usual. Secondly, a loss of an ATM card with the revelation of its password means the possibility of money loss to criminals. However, card thieves cannot do the same with a stolen chip-based citizen ID card, since the newly scanned biometric information cannot match cardholder’s one. When being asked about the case of a person owning several bank cards wishing to withdraw money via a chip-based citizen ID card, the Deputy Director … [Read more...] about Important notice to withdraw money at ATM via chip-based citizen ID card

At the meeting with Korean investors (Photo: VGP) On this occasion, leaders of 12 provinces and cities in the South Central Coast - Central Highlands had two meetings and many working sessions as well as met bilaterally with Korean organizations and businesses to promote cooperation and development programs. The provinces focus on introducing and inviting investment in many fields such as renewable energy, tourism, high-tech agriculture, mining, afforestation, medicinal herbs, tourism exploitation from natural heritages, marine economy, industry, and smart city. Representatives of Korean organizations and businesses also had opinions and development plans with the South Central - Central Highlands provinces. The parties pledged to step up the search and call for Korean projects and businesses to invest in order to help the region get a foundation for sustainable and stable development, heal wars, reduce poverty sustainably and fight climate change… Also at the conference, a … [Read more...] about Ministry calls for Korean investors to pour money into South Central region

Germany-invested Framas Group has rented a 20,000-square-metre ready-built factory in KTG Industrial Nhon Trach 2, in the southern province of Dong Nai. Framas Group specialises in manufacturing high-quality plastic parts with customers including Nike and Adidas. Fabian Urban, director of footwear technology at Framas Vietnam, said that the reason for choosing Vietnam to open a factory is that the facilities are superior to other locations. “The establishment of this new factory is part of the group’s wider strategy to develop the footwear sector in the Vietnamese market,” said Urban. Meanwhile, Danish jewellery brand Pandora on May 12 signed an MoU to build a new jewellery crafting facility in Vietnam-Singapore Industrial Park III (VSIP) in the southern province of Binh Duong, 40km north of Ho Chi Minh City. According to Jeerasage Puranasamriddhi, chief supply officer at Pandora Production Co., Ltd., the new factory will be the company’s third manufacturing site and its first … [Read more...] about Key localities stepping up industrial real estate moves

Lance Li, CEO of BW Industrial Development JSC What difficulties has BW Industrial Development encountered when attracting manufacturers to its campus? The leasing part is always difficult. Despite being a leading player in this market, a large proportion of our tenants, especially manufacturers, is small- and medium-sized enterprises (SMEs). The average space that they need is 3,000-5,000 square metres. If you look at our tenant profile, we have more than 200 tenants. Therefore, we actually need a very strong leasing team to work with, to serve the different requirements of these tenants – from choosing the right locations to other demands such as facilities, dealing with local authorities and skilled labour recruitment as well. Do you have any incentives for SMEs and what are the advantages for them? For each individual industrial zone, they may have some incentive policies. In the very early stage, we will introduce that policy to our tenants, depending on each … [Read more...] about BW Industrial setting the market standard