Consumers have raised concerns over the significant increase in April's electricity bills. (Photo: hanoimoi.vn) Hanoi (VNS/VNA) - Government inspectors will investigate the latest power price increase by 8.36 percent to 1,864 VND (8.03 US cents) per kWh from March 20 following concerns among the public. According to a document sent by the Government Office, Prime Minister Nguyen Xuan Phuc has asked the Government Inspectorate to work with the Ministries of Industry and Trade, and Finance to study the price calculation method of electricity bills and their collection. The inspectorate and the two ministries should clarify whether the electricity price hike was right or wrong and report to the PM by next month. The document said the PM’s decision follows many households complaining about sudden and significant increases in their electricity invoices for April. Deputy Minister of Industry and Trade Do Thang Hai said the ministry shared people’s concerns about the … [Read more...] about Government inspectors to investigate power price hike
Rate hike date
Government to inspect power price hike
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Consumers have raised concerns over the significant increase in April's electricity bills. — Photo hanoimoi.vn HÀ NỘI — Government inspectors will investigate the latest power price increase by 8.36 per cent to VNĐ1,864 (8.03 US cents) per kWh from March 20 following concerns among the public. According to a document sent by the Government Office, Prime Minister Nguyễn Xuân Phúc has asked the Government Inspectorate to work with the ministries of industry and trade, and finance to study the price calculation method of electricity bills and their collection. The inspectorate and the two ministries should clarify whether the electricity price hike was right or wrong and report to the PM by next month. The document says the PM’s decision follows many households complaining about sudden and significant increases in their electricity invoices for April. Deputy Minister of Industry and Trade Đỗ Thắng Hải said the … [Read more...] about Government to inspect power price hike
Đồng Nai witnesses huge hike in two-month FDI
A South Korean Hyosung Vietnam’s fiber production line at Nhơn Trạch 3 Industrial Zone in Đồng Nai Province. — Photo baodongnai.com.vnViet Nam News ĐỒNG NAI — The flow of foreign direct investment (FDI) money into the southern province of Đồng Nai reached US$186.4 million in the first two months of this year, three times higher than in the same period last year. Of that amount, $149 million came from 15 newly licensed projects while the remaining $37.4 million was added to nine existing projects, the provincial Department of Planning and Investment said. The projects are in the fields of high technology and supporting industries, including some environmentally friendly projects. The department said the Republic of Korea (RoK), Japan and Singapore were the province’s three main sources of FDI in the period. New projects include the RoK-invested Chang Shin Vietnam manufacturing plant in Tân Phú … [Read more...] about Đồng Nai witnesses huge hike in two-month FDI
Central bank’s exchange rate hits highest level in months
Viet Nam News HÀ NỘI — The central bank’s daily reference exchange rate of the US dollar against the Vietnamese đồng has been adjusted up slightly in recent sessions, pushing it to the highest level since early this year. On Monday, the central bank appreciated the value of the dollar against the đồng by VNĐ5 over last Friday to VNĐ22,755 per dollar, the highest rate since January 2018. On Tuesday, the central bank kept the rate unchanged. With the current trading band of +/- 3 per cent, the ceiling rate applied by commercial banks for Tuesday is VNĐ23,437 per dollar and the floor rate is VNĐ22,073 per dollar. At commercial banks, the price of the dollar saw decreases on Tuesday. Vietcombank posted VNĐ23,260-23,350 per dollar for its buying and selling rates, down by VNĐ15 from Monday. At BIDV, the buying and selling rates were VNĐ23,255-23,345 per dollar, down by VNĐ45. Techcombank cut the … [Read more...] about Central bank’s exchange rate hits highest level in months
BUSINESS NEWS IN BRIEF 26/10
Vietnam, Japan look to foster trade cooperation A workshop was held in Tokyo on October 22 to discuss measures to promote economic and trade cooperation between Vietnam and Japan. Held by the Department of Trade Promotion (DTP) under the Ministry of Industry and Trade and the Japan-ASEAN centre, the event attracted representatives from more than 100 Japanese and 25 Vietnamese enterprises operating in handicrafts, mechanics, plastic, home furniture and gifts. Speaking at the workshop, Doan Thi Thu Thuy, Deputy General Director of the DTP said Vietnamese goods are present in most markets around the world, and exports are shifting from raw materials to products with higher value such as electronics and smart phones. Notably, Vietnam's agriculture has witnessed a long period of stable growth with an average expansion of 4.4 percent in the last decade, with the export value of Vietnamese fruits surpassing those of rice and crude oil. Assessing Vietnam’s advantages, … [Read more...] about BUSINESS NEWS IN BRIEF 26/10