Dong Hai wind farm in Tra Vinh Province. — Photo courtesy of Trungnam Group The Ministry of Industry and Trade (MoIT) has asked the Prime Minister about the mechanism for ongoing solar power and transitional wind power projects to enjoy the incentive price. In a recent document sent to the PM, the MoIT suggested investors of those projects negotiate electricity prices and power purchase and sale contracts with Viet Nam Electricity (EVN). Of a total of 78,121 MW of installed capacity of electricity sources nationwide, there was 16,545 MW of solar power, including 8,904 MW of concentrated solar power and 7,660 MW of rooftop solar power and 4,126 MW of wind power that have been put into operation and have enjoyed the FIT (preferential purchase price) according to the Prime Minister’s decision. However, the MoIT announced there were still many projects or parts of wind and solar power projects that had been implemented in practice but not been able to enjoy the FIT price in time. … [Read more...] about MoIT recommends unfinished wind, solar farms negotiate energy prices
Multilateral trade negotiations under gatt is called mcq
UKVFTA to accelerate Viet Nam’s institutional reform
Inside a clean clam processing line of Lenger Seafoods Vietnam. The company exports products to markets in the EU, the UK, Japan, the US, and South Korea. — Photo courtesy of Lenger Seafoods Vietnam To provide a more favourable playground for enterprises to strengthen and access international markets, Viet Nam is on a path to boost institutional improvement. And it is believed that the United Kingdom-Vietnam Free Trade Agreement (UKVFTA) is accelerating the process, said experts. As Viet Nam has signed many new free trade agreements (FTAs) with countries or regions that require more stringent standards not only on quality but also on production processes, it is crucial for local enterprises to quickly adapt to new rules. Therefore, the Government has to make changes to relevant policies to support them. The reform is building a favourable business environment, reducing transaction expenses for enterprises, especially small and medium enterprises, and attracting quality … [Read more...] about UKVFTA to accelerate Viet Nam’s institutional reform
Vietnam’s GDP growth set to expand by 7.5% in 2022: World Bank
In long term, transforming the higher education system will be key to boosting Vietnam’s productivity and helping achieve its goal of becoming a high-income country by 2045. Vietnam’s GDP growth is forecast to surge from an estimated 2.6% in 2021 to 7.5% in 2022, with backing from resilient manufacturing and a robust rebound in services. Overview of the event. Photo: Nguyen Tung Country Director for the World Bank in Vietnam Carolyn Turk revealed the figures at the launch of its bi-annual economic outlook for Vietnam titled “Taking Stock: Educate to Grow” today [August 8]. According to Turk, the global economy has been experiencing a series of very large and negative shocks, including ongoing Covid-19-related disruptions and supply shocks associated with the Russia-Ukraine conflict. In this context, Vietnam’s economy has shown “relative resilience and staged a strong rebound after last year’s Covid-19 induced slowdown,” Turk said. Vietnam’s economic … [Read more...] about Vietnam’s GDP growth set to expand by 7.5% in 2022: World Bank
People and businesses urged to take part in the digitalization: PM
Digitalization is seen as a major instrument for Vietnam to promote an independent and self-reliant economy. Businesses and people should be the main beneficiaries and the driving force for the national digital transformation, so the Government encourages them to take an active part in this process. Prime Minister Pham Minh Chinh at the meeting. Source: VGP Prime Minister Pham Minh Chinh stressed the goal during a meeting of the National Committee on Digitalization today [August 8]. According to Chinh, efforts from Government agencies and localities have been translated into strong progress in Vietnam’s digitalization and contributed to the socio-economic recovery. The prime minister, however, pointed to the incompleted legal environment as the reason hampering the digitalization process, while a lack of investment in digital infrastructure, including the mobile and fixed broadband internet speeds behind the world average, means it has failed to create … [Read more...] about People and businesses urged to take part in the digitalization: PM
55 years of ASEAN – One vision, One identity, One community
It has also become the fifth largest economic community in the world, a reliable and important partner of countries, and played a central role in dialogues, important cooperation and connectivity in the region. In an article in celebration of ASEAN’s 55th birth anniversary (August 8, 1967 - 2022), Vietnamese Foreign Minister Bui Thanh Son recalled that the birth of ASEAN on August 8, 1967 was the start of the process of an intensive connectivity for peace, stability, and development in Southeast Asia and the region. Building an ASEAN Community with common vision and identities The grouping gathered countries divided by war. Its inception reflected the common aspirations of many countries in the region for peace, stability, friendship, and win-win cooperation. According to FM Son, Vietnam’s admission to ASEAN in 1995 paved the way for the building of an ASEAN common house connecting 10 Southeast Asian countries. In 1997, ASEAN, for the first time, approved the ASEAN Vision … [Read more...] about 55 years of ASEAN – One vision, One identity, One community
Are M&As still a top trend in the pharma market?
According to an update on Global M&A Industry Trend conducted by PwC, pharmaceuticals, life sciences, and healthcare services continue to attract high levels of investor interest, and this trend will continue through the rest of the year. Ngo Thanh Hai and Nguyen Dieu Quynh from LNT & Partners There are three main reasons that M&As in pharmaceuticals could still be the future trend in Vietnam. Firstly, in the face of growing demand and rapid technological innovation, pharmaceutical companies must continuously improve and develop their research and development departments before their patents expire. Therefore, they will be ambitious to acquire smaller companies with existing conditions. Secondly, to expand the business in Vietnam, the investors will need to consider opening a manufacturing plant or acquiring a current plant from domestic companies. Under World Trade Organization commitments, foreign investors can import but cannot distribute drugs to the … [Read more...] about Are M&As still a top trend in the pharma market?
