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Grand opening of 10MWp Song Binh rooftop solar farm in Binh Thuan

March 2, 2021 by www.vir.com.vn

With work officially started from early November 2020, the solar farm is run by Edge VN with consultation in financial investment and management from Edge Plus Singapore.

The plant is based in Song Binh commune, Bac Binh district in the central province of Binh Thuan, the area with the highest solar power potential in the country based on average sunshine hours and stable heat radiation, according to Vietnam Energy journal under Vietnam Energy Association.

grand opening of 10mwp song binh rooftop solar farm in binh thuan
Song Binh rooftop solar farm in Binh Thuan

The solar farm employs cutting-edge technologies, including Sun Power solar panels from the United States and solar optimisers from Woss Corporation. The solar optimisers are integrated with AI technology and Edge Computing to maximise power production.

Song Binh rooftop solar farm is proud to be an IoT-enabled solar farm leading the Vietnamese renewable energy industry.

Present at Song Binh solar farm’s recent grand opening ceremony, Do Van Loc, deputy chairman of the national high-tech programme, praised Woss Corporation for using benchmark-setting technologies in this rooftop solar farm project and hoped to see more of this from other solar farms.

Building and developing rooftop solar farms like Song Binh not only pushes up the country’s economic development but also contributes to raising the efficiency of the fight against climate change by promoting clean energy.

The introduction of Song Binh Rooftop Solar Farm aims to match the rising demand for clean energy in Vietnam.

According to state power authority Electricity of Vietnam, the total installed capacity of rooftop solar power projects connected to the national grid is estimated at 9,296MWp currently, accounting for 25 per cent of total installed power sources.

Building and developing rooftop solar farms like Song Binh not only pushes up the country’s economic development but also contributes to raising the efficiency of the fight against climate change by promoting clean energy.

At the grand opening, Edge Vietnam signed a co-operation agreement with Woss Corporation to provide smart battery systems to safely and efficiently store solar power, providing its clients with consistent electrical supply when sunlight is limited or unavailable.

In addition, Edge VN and Edge Plus Singapore are looking for opportunities to develop more smart solar power plants in Vietnam in the near future.

By Anh Duc

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System error hinders recovery of main index

March 4, 2021 by english.thesaigontimes.vn

System error hinders recovery of main index

The Saigon Times

An electronic stock quotation board shows local stock prices at a brokerage firm in HCMC. The benchmark VN-Index of the Hochiminh Stock Exchange closed in negative territory today, March 4 – PHOTO: THANH HOA

HCMC – The benchmark VN-Index of the Hochiminh Stock Exchange closed in negative territory today, March 4, as order placing activities were slowed down due to a system error which has recently occurred on the bourse, especially in the afternoon.

With the number of decliners nearly quadrupling that of advancers at 362 to 95, the main index lost 18.43 points, or 1.55% against the previous session at 1,168.52.

Turnover on the HCMC market improved over 6% in volume and 10% in value over the session earlier at more than 670 million shares and some VND16.8 trillion. Block deals contributed around VND1.5 trillion to the total value.

In the VN30 basket, financial stocks deeply declined, with financial service provider TCH, brokerage SSI, lenders TPB, STB, TCB, MBB plunging 3-4.2%.

Besides this, insurer BVH, consumer goods producer MSN, tech firm FPT, lender BID, retailer VRE dropped 2.1-2.8%, while lender VCB, housing developer VHM, steelmaker HPG and some others fell slightly.

Steelmaker HPG led the HCMC market by liquidity with nearly 28 million shares changing hands. Lenders STB, MBB, TCB reported the respective matching volume of 23.5 million, 23.1 million, 16.1 million shares.

Meanwhile, a host of speculative stocks made gains, including FLC, PVD, PVT, SCR, GEX, and DCM. Of them, property group FLC saw over 23.6 million shares transacted. Also, TLH, TGG, and DQC were among outstanding winners as they hit their upper limits.

In contrast to the southern bourse, trading on the northern bourse was upbeat. The HNX-Index added 1.67 points, or 0.66% versus Wednesday at 255.77. Notably, oil and gas stock PVS soared a whopping 8.4% and was the most actively traded stock on the Hanoi market, with over 27 million shares traded.

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Covid-19 to deal stronger-than-expected blow to Vietnam’s aviation industry

April 27, 2020 by hanoitimes.vn

The Hanoitimes – The volume of passengers in 2020 would plunge 46% to 43 million passengers compared to 2019, according to the Ministry of Transport.

The Vietnamese aviation market would suffer more damages than any estimations made so far due to the Covid-19 pandemic, according to the Ministry of Transport.

An airplane of Jetstar Pacific. Photo: Vietnam Airlines

The ministry has said in a report sent to the prime minister that from April 1 to 23, the number of air travelers was only equivalent to 1-2% of the total before the pandemic. Most of the airplanes are grounded.

Flag carrier Vietnam Airlines Corporation (VNA) announced its consolidated revenue in the first quarter decreased by 26% year-on-year. The Airports Corporation of Vietnam, which manages 21 airports across the country, also saw a decline of 24% in revenue .

Vietnam Air Traffic Management Corporation (VATM), which provides navigation services to Vietnamese and foreign airlines, saw its revenue drop 60% in the January-March quarter.

The volume of passengers in 2020 would plunge 46% to 43 million passengers compared to 2019, worse than any forecast scenarios, said the ministry.

Earlier, the Civil Aviation Authority of Vietnam (CAAV) estimated in the most optimistic scenario where the pandemic is contained in April, the number of air passengers would fall 15.4% year-on-year to 67 million. In a second scenario with the pandemic being controlled before June, total passengers of the market are predicted at 61.2 million, down 22.6% year-on-year.

With the unexpected losses, the ministry has proposed many solutions to support the aviation industry, including the resumption of the flight routes and the increase of frequency of domestic flights from April 23.

The ministry kept requesting the prime minister to provide financial and tax support policies for local transport businesses.

Filed Under: Uncategorized aviation industry, ministry of transport, Vietnam Airlines, CAAV, VATM, covid-19, Aviation Industry Corp of China, aviation industry corporation of china, China aviation industry, Civil Aviation Industry, Iran Aviation Industries Organization, aviation industry in india, aviation industry jobs, aviation industry overview, aviation industry news, global aviation industry, indian aviation industry

Vietnam airlines raise domestic airfares post-Covid-19

April 23, 2020 by hanoitimes.vn

The Hanoitimes – Vietnamese air carriers have listed new domestic airfares which are higher than the fares applied during the social distancing period.

In the midst of the second social distancing period against the Covid-19 pandemic, Vietnamese airlines have quoted new domestic airfares that are three to five times higher than the fares applied since the beginning of the social distancing period, but still remain below the regulated ceiling price.

Source: Vietnam Airlines

Prices on the Ho Chi Minh City – Hanoi route range from VND3.6 million to VND6.7 million for Vietnam Airlines economy class, from VND1.7 million to VND2.9 million for Bamboo Airways’, from VND1.8 million to VND2.1 million for Vietjet Air’s.

Fares of the Ho Chi Minh City – Hanoi route

Airline Economy class Business class
Vietnam Airlines

US$152.8

US$284.6

Bamboo Airways

US$72.1 – US$123

US$161.4 – US$271.9

Vietjet Air

US$76.4 – US$89.1

US$89.1

Source: Bamboo Airways

Why high airfares?

The prices of domestic flights vary, depending on the time of purchase, Tran Trung Kien, a Thu Duc district-based ticket agent in Ho Chi Minh City told VnExpress . “Travel demand will increase as the social distancing will soon end and in anticipation of the coming public holidays (Reunification day of April 30 and May Day). Supply shortage drives airfares up,” Kien was quoted as saying.

Some airlines explained that travel demand between Hanoi and Ho Chi Minh City is high even during the time of social distancing. Meanwhile, in compliance with the social distancing measures against Covid-19, flights are operated at half capacity with seating arrangement of just two passengers in one row to ensure a safe distance.

According to the Civil Aviation Authority of Vietnam (CAAV), the Hanoi – Ho Chi Minh City route has been reopened but operated at the frequency of 5-6% below the pre-pandemic capacity. The agent also told local media that though domestic airfares are rising, they are still below the regulated ceiling.

Nguyen Xuan Thuy, a local transport insider, told Kinh te & Do thi that the airlines have heavily suffered from the Covid-19 pandemic and higher air fares are intended to offset the losses. However, as the Covid-19 pandemic is negatively affecting all people and every industry, “I suggest the transport ministry and airlines explain this increase more reasonably,” he was quoted as saying.

Due to the pandemic, 98% of airplanes have been grounded, local airlines could see a decline in revenue of up to VND65 trillion (US$2.7billion), much higher than the VND30 trillion (US$1.27 billion) previously estimated by the CAAV.

After three weeks of social distancing, domestic airlines have struggled with financial woes, according to Saigon Times . The airlines’ cash flow has been imbalanced in the first four months of this year, which makes it hard for them to recover faster. Cash flow from airfares and fuel cost reduction has not covered the fixed costs of the airlines.

In order for airlines to overcome the crisis, it is necessary to quickly issue policies on exemption and reduction of state-controlled aviation services (plane parking fees and screening fees, among others), environmental protection taxes for shipping companies, including airlines, to lower costs for air carriers, Saigon Times wrote.

In addition, the government should also refund value-added tax (VAT) in 2020 for industries directly affected by the pandemic such as aviation and tourism so that the enterprises can cover their operating costs.

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Trading value hits monthly high as VN-Index dips

March 4, 2021 by e.vnexpress.net

The index started off in the green before dipping by nearly 28 points starting at around 10.40 a.m. while a slight recovery in the afternoon was unable to bring it back to the starting point. It closed with a 18.43-point drop, ending a chain of five consecutive gaining sessions.

Trading value on the Ho Chi Minh City Stock Exchange (HoSE), on which the index is based, rose 9.8 percent to VND16.8 trillion ($728.4 million), the highest since February 1. The bourse saw 95 stocks gain and 362 lose.

Many investors reported overloads on the bourse even in the morning. There were times when buy orders were delayed for two or three minutes, they said.

The VN30 basket, comprising the 30 largest capped stocks on the HoSE, saw 29 stocks in the red. VIC of biggest conglomerate Vingroup was the only ticker with no price change at VND106,900.

Losing blue chips were led by TCH of real estate company Hoang Huy Investment Financial Services JSC, down 4.2 percent, and SSI of SSI Securities Corporation, down 4 percent.

They were followed by five banks, including TPB of private TPBank, down 3.7 percent, STB of Ho Chi Minh City-based lender Sacombank, down 3.4 percent and TCB of the largest private lender Techcombank, down 3.2 percent.

Foreign investors were net sellers for the 10th session in a row to the tune of VND229.6 billion, with the strongest pressure on VNM of dairy giant Vinamilk, VIC and VCB of state-owned lender Vietcombank.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, gained 0.66 percent, while the UPCoM-Index for stocks on the Unlisted Public Companies Market fell 0.18 percent.

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Vietnam carriers to resume domestic flights from April 23

April 22, 2020 by hanoitimes.vn

The Hanoitimes – The aviation authority has proposed allowing carriers to increase flight frequency between Hanoi and Ho Chi Minh City, and resume air connection from these two cities to other domestic destinations.

The Civil Aviation Authority of Vietnam has submitted to the Ministry of Transport a plan to resume flights from April 23 after the expiration of the social distancing extension. All domestic routes, except the Hanoi – Ho Chi Minh City – Danang routes, will be re-opened with limited frequency.

Photo: Vietjet Air

The agency has submitted the plan to re-open those routes from April 23 to 30. Accordingly, on the Hanoi – Ho Chi Minh City route, there will be 20 flights per day with Vietnam Airlines and Vietjet Air each permitted to operate six; and the rest of flights are distributed equally between Jetstar Pacific and Bamboo Airways.

On Hanoi/Ho Chi Minh City – Danang routes, Vietnam Airlines and Vietjet Air each will operate three flights per day, Jetstar Pacific and Bamboo Airways each with two flights per day.

In particular, each airline will operate one roundtrip flight per day for routes from Hanoi/Ho Chi Minh City to other localities; four roundtrip flights per day on the Ho Chi Minh City – Con Dao route; one roundtrip flight per day for routes between localities excluding the Hanoi-Ho Chi Minh City route.

The agency has also asked aviation businesses to continue implementing the government’s preventive measures. They are asked to keep implementing strictly measures on the disease prevention and control such as checking passengers’ health at the airport, requesting online health declaration before the flight, refusing to transport passengers who are suspected of contracting the coronavirus, arranging seats on board in a way to ensure safe distance as regulated.

Crew including pilots, flight attendants and technical staff on all flights are equipped with protective medical equipment. Passengers traveling on the plane are required to wear face masks during the whole flight.

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