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Arduous path to LNG success

April 6, 2021 by www.vir.com.vn

arduous path to lng success
GE’s latest 9HA.02 turbine is accelerating the shift to LNG

After a wave of investment in solar and wind power over the past two years, Vietnam is now witnessing strong interest in the field of electricity generated with the use of liquefied natural gas (LNG).

A report by the Institute for Energy Economics and Financial Analysis (IEEFA) published in January stated that Vietnam has quickly become one of the most promising LNG import markets in Asia, and many domestic and international investors have expressed their desire to pursue projects in the country. They are encouraged by changes in government management that no longer sees coal-fired thermal power as the centre of the power system, as well as the rapid growth of renewable energy in the nation’s power structure.

As such, investors have actively portrayed LNG as a cleaner source to replace coal and argue that gas-fired power units will be one of the main power sources required to feed public demand and supplement unstable renewable sources.

The IEEFA report also stated, “Vietnam’s electricity industry has never seen a wave of investors expressing so much interest as they do now, that – with the accompanying diplomatic pressure – remains unprecedented in the country’s history.”

Interest in LNG power may also be related to Resolution No.55/NQ-BCT on the orientation of Vietnam’s National Power Development Plan (PDP8), which emphasises the rapid development of LNG thermal power plants. However, at the same time, experts advise that priority must be given to developing LNG import and distribution infrastructures.

According to the nation’s target until 2030, Vietnam must import 8 billion cubic metres of LNG per year, while the current rate is zero. The focus on LNG power generation is also attributed to its advantages, such as ensuring a stable power supply and minimising the impacts on the environment.

“The third draft of the PDP8 for the period 2021-2030, with a vision to 2045, is proposing to quadruple the current capacity of gas-fired thermal power by 2030 to 28GW, equivalent to 21 per cent of the total system capacity. Most of these plants are then expected to use imported LNG,” the IEEFA report states.

According to experts, LNG power generation is flexible and can be adjusted as needed. Besides this, the carbon emissions of LNG account for roughly half of coal power, which helps to reduce the energy sector’s impact on the environment. At the same time, LNG power is capable of reaching higher power output when needed, without interruptions and dependencies on nature such as wind or solar power.

Given the fact that global CO 2 emissions are still increasing, the power sector takes on a mandate and a multidimensional approach to take important steps to rapidly reduce greenhouse gas emissions and solving the problem of climate change on a large scale.

“Despite the massive deployment of renewables such as wind and solar power, the energy sector has not improved significantly to meet the goals set out in the Paris Agreement on carbon neutralisation. The International Energy Agency (IEA) said that to achieve improvements in power efficiency, instead of spending time building new renewable power sources, it is possible to convert from coal to gas to reduce emissions faster,” said Vic Abate, General Electric’s (GE) senior vice president and chief technology officer and former CEO of both GE’s Gas Power and Renewables businesses.

According to the current draft of the PDP8, there are about 24 LNG projects proposed with a total potential of 23GW by 2025 and 84GW by 2035, with a demand for imported LNG of about 60 million tonnes per year.

Challenging negotiations

According to experts, about half of the proposed gas power projects are complexes for LNG import ports, storage tanks, recycling systems, and gas pipelines and power plants, with the remainder being pure power plants running on LNG.

However, no LNG power project has started its construction yet because contracts related to their operation have not been completed, most notably because of the missing power purchase agreements (PPA).

Even though the Bac Lieu LNG project was licensed in early 2020, the project owners are still negotiating a PPA without seeing the finish line anywhere close.

Talking about the progress of LNG project implementation, experts from the energy sector, as well as several project brokers and financial advisors, also said that the biggest challenge will be to negotiate the PPA.

“PPA negotiations must comply with the regulations of the Ministry of Industry and Trade, whereby the approved project documents must be available before the negotiation. Based on investment costs, cash flow in and out, profits, and discount rates, the purchase price of electricity that investors want to sell will be set. Except for those cases that do not exceed 7 US cent per kWh, for which Electricity of Vietnam will sign a PPA immediately, other prices will take computation and consideration,” said energy consultant Nguyen Binh.

Other investors also said that since the government reaffirmed that there are no guarantees, the decision to invest in an independent power plant requires investors to make great efforts.

“Spending a few billion US dollars on projects without a foreign currency conversion guarantee will make it difficult for investors to keep cash flows in hand when unexpected situations occur,” said Binh.

arduous path to lng success
Track 4A power plant in Malaysia running on GE’s latest generation of HA turbines

Scale is king

According to Petrovietnam, the 24 planned LNG power projects recorded in the draft PDP8 will lead to a situation where the coastline of Vietnam will be covered by the configuration of “one power plant plus one LNG import and gas refinery warehouse”.

Meanwhile, other countries around the world are developing power plant clusters using large receiving ports to optimise the cost of gas infrastructure between the port and the power plants.

This means that these power centres choose a place with favourable conditions for convenient infrastructure with low cost, located near a suitable load centre and built according to environmental criteria. For instance, port warehouses must have a capacity of at least 6 million tonnes of LNG per year to be considered cost-efficient.

In parallel with the recommendations on the size of LNG terminals, experts also said that using new and innovative technologies will bring higher efficiency to an LNG power plant.

In the technology race, GE’s two world records for operating power plants with the highest efficiency have sparked the interest of LNG project operators in Vietnam as they offer significant cost savings compared to other technologies in the industry.

“The newest generation of turbines offers the lowest cost of capital and fuel conversion with a long engine life, thus reducing the total cost of ownership. As such, a generation H turbine combined with cycle plant for 1,000MW occupies an area of ​​about 0.05 square kilometres, far less than the 20sq.km needed for onshore wind or solar power plants of the same scale,” said Christophe DuFault, general manager (Project Execution) of GE Gas Power Asia, adding that GE’s HA turbines are currently the largest and most efficient gas turbines in the world and have received more than 120 orders from more than 48 customers in 20 countries and regions.

With its strong development potential, the IEA expects the Asia-Pacific to be a region with many “breakthroughs in the development of LNG power plants in the next decade”.

GE has more than 80 years of experience in the supply and construction of combined cycle power plants, and it has been 29 years since the first H turbine generation. GE’s H-generation turbines currently supply 21.5GW at 24 locations worldwide and are monitored daily at its centre in Kuala Lumpur.

In addition to delivering outstanding energy efficiency and cost savings, GE’s newest H-generation turbines also cut emissions – a key factor in securing the future of the energy industry in Asia-Pacific.

However, experts also say that although LNG can be a superior solution to other fossil fuels in terms of efficiency and emissions, both these advantages depend heavily on related technology.

“Our new power plant operating in Malaysia demonstrates that low-carbon or non-carbon gas power technologies, such as our HA technology, can help accelerate CO 2 reductions in power production. At GE, the combination of gas and renewable electricity will be part of the solution for the present and the future,” said DuFault.

LNG is now expected to lead the way in Vietnam’s energy structure, meeting a large portion of its capacity by 2030.

By Thanh Huong

Filed Under: Corporate LNG, energy, GE, paths to success

Thoughts return to stronger rail options

April 7, 2021 by www.vir.com.vn

1538 p16 thoughts return to stronger rail options
Thoughts return to stronger rail options. Source: freepik.com

Although the Ever Given container ship was rescued one week after being stranded in the Suez Canal in Egypt, the trading world remains rocked as hundreds of billions of US dollars has evaporated in the wake of the global trade system significantly relying on this narrow canal.

The incident has also posed questions on developing other transportation channels, in which trans-continental rail routes may be top of the list.

“One of the most effective channels is to develop a rail route running through Asia and Europe. This would be very good for exporters in Vietnam,” said Tran Thanh Hai, deputy director of the Ministry of Industry and Trade’s Agency of Foreign Trade.

It is now recommended that exporters should consider and take advantage of the current rail route connecting Vietnam through China to Kazakhstan, Russia, Belarus, Poland, and Germany. From Germany, the goods can be transported to other European markets.

Currently if goods are transported via this rail route, it would take a month from Vietnam to Germany, with a cost of $8,000-9,000 per container, which is higher than the $6,000-8,000 for sea transportation which can take up to 50 days.

However, the existing difficulty is the difference in railway widths and also standards of the trains themselves. The width of Vietnam’s railways is one metre, while that of other nations is around 1.4m. Moreover, trains in Vietnam cannot accommodate a huge volume of goods at the same time – each train can carry a maximum of 90 tonnes of goods for 15 compartments. If exporters want their goods transported by trains from Vietnam to overseas markets, they will have to change trains many times, meaning higher costs.

These factors currently make it difficult for Vietnam to boost the transportation of goods by train to other international markets.

Kazakhstani Ambassador to Vietnam Yerlan Baizhanov previously told VIR that Kazakhstan, China, and Vietnam had established a council to discuss a project to develop a rail route for goods transportation from Vietnam through China to Kazakhstan and other member countries of the Vietnam-Eurasian Economic Union (EAEU), including Russia, Belarus, Armenia and Kyrgyzstan, and vice versa.

“The council has organised a number of meetings. One of the key issues now is to fix the cost for transporting goods,” Baizhanov said. “I believe that there will be a shared solution. If this rail route is not developed, it will be difficult to raise the bilateral trade between Kazakhstan and Vietnam, which currently sits at only $500 million per year.”

The railway will help reduce the time for transporting goods from Kazakhstan to Vietnam to only 14 days from about one or two months now, he added. “The Kazakhstani side will continue working with Vietnam’s authorised agencies about this project,” said Baizhanov.

Currently, goods are transported between both nations by sea, which often takes a few months for a ship.

Under the railway project, whose total length and investment capital remain unrevealed, container goods will be transported from Vietnam’s northern Dong Dang and Lao Cai railway stations to China’s Lianyungang port – whose 49 per cent of stake is now held by Kazakhstan Temir Zholy (KTZ), the national railway company of Kazakhstan. After that, the goods will be transported by railway to Kazakhstan, which borders China, and to other EAEU countries.

Leaders of the railway industry of Vietnam, Kazakhstan, and China have decided on the project’s logistics manager, namely KTZExpress of Kazakhstan and Vietnam’s Transportation and Trade JSC, a member unit of state-owned Vietnam Railways Corporation. They have also considered the demand for organising container-based trains for the new routes. KTZ and Vietnam Railways Corporation also inked an MoU on cooperation in railway development several years ago.

Currently, under its strategy, Kazakhstan is boosting transport infrastructure modernisation and attaching great importance to developing transport-logistics routes connecting Kazakhstan with Southeast Asian nations including Vietnam. The railway will also enable Kazakhstan to boost imports of electronics, and garments and textiles products from Vietnam, which it needs the most.

In the same vein, in 2018, members of the Organization for Cooperation of Railways (OSJD) discussed a plan to develop a railway transport system running from Vietnam to Russia through other Asian and European countries. The plan is part of an agreement signed that year at the OSJD’s conference of general directors in the central city of Danang. Directors pledged to promote logistics development through rail, expand research cooperation, and supply locomotives and machinery. However, no further information of the plan has been published so far.

By Nguyen Thanh

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Coc Coc targets Vietnamese users in suburban and rural areas

December 24, 2020 by hanoitimes.vn

The Vietnamese search engine aims to reach 20% of the browser market share on desktops and 15% of the search engine market share on mobile devices by 2021.

Coc Coc, the Hanoi-headquartered browser and search engine, will develop new features to meet the demand of its targeted users in suburban and rural areas, in the context of the increasing mobile phones penetration in Vietnam and the expansion of digital technology in all areas of life, Ms. Dao Thu Phuong, Deputy CEO of Coc Coc told the media gathering on December 22 in Hanoi.

Ms. Dao Thu Phuong and Mr. Nguyen Vu Anh, two Deputies CEO of Coc Coc in Vietnam.

Rural Vietnam is a prime market for growth, projected to be twice as fast as metropolitan areas. This is where over half of the country’s population resides – an untapped market with rising internet penetration.

According to the latest report “Vietnam’s Search for Tomorrow” released in October by Google, 77% of rural people now have internet access, and 91% use the internet daily. The internet has become a bridge to resources, products, and services that these users are accessing for the first time.

The report showed that the rural users choose Search as the key tool when making purchase decisions, with 45% of rural consumers using it to find information on products vs. traditional media (24%) and social media (27%). In fact, 77% of Vietnam rural users clicked on a search ad because of a relevant headline.

Rural users are considered as the major driving force to materialize the goal of Made-in-Vietnam search engine in the coming time.

Coc Coc targets the Vietnamese users in suburban and rural areas. Photos: Nhat Minh

Plans for 2021

With the achievement of 13 million mobile users on both iOS and Android, Coc Coc has risen to the top four most popular mobile browsers in Vietnam and ranked 1st among the free apps on the App Store in November.

According to the report by Statcounter, a web traffic analysis website, the market share of Coc Coc doubled that of the same period in 2019 and gained a larger piece from the search engine’s share giant Google (a drop from 94.4% to 89.9%) in August. From a zero-market share in 2013, the Vietnamese browser and search engine company Coc Coc ranked second after 7 years.

Coc Coc aims to reach 20% of the browser market share on desktops and 15% of the search engine market share on mobile devices by 2021.

This year, the engine has reached 25 million users including 4 million mobile ones. It missed its goal of 30 million mobile users for the whole year 2020, from 24 million in 2019, mainly due to the impacts of Covid-19.

Coc Cok is estimated to gain an estimated VND235 billion (US$10.1 million) in revenue, an increase of more than 13% compared to 2019, recording a pre-tax profit of VND30 billion ($1.3 million). “This year marks the highest revenue and profit of the company since 2017,” Deputy CEO of Coc Coc Nguyen Vu Anh said.

By 2021, Coc Coc plans to launch the project Coc Coc Audience Network, as a platform connecting publishers and advertisers based on numerous users and outstanding technology. It is expected to be one of the browser’s core activities for the coming years.

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Corporate bond rush heads for slowdown

April 10, 2021 by vietnamnet.vn

With Vietnamese regulators’ efforts to minimise the risks of corporate bonds’ mass issuance, the landscape is predicted to be cooled down compared to a frenzy of debt instruments in the previous period.

Corporate bond rush heads for slowdown
Corporate bond rush heads for slowdown.

According to fresh data from the Hanoi Stock Exchange, as of January 22, there were seven successful corporate bond private placements with a total value of $279 million and two public offerings of $70 million. The real estate sector accounted for $233.7 million, equivalent to 66.9 per cent of the total issued value.

Previously, over $17.82 billion of corporate bonds were issued last year, which increased by 38.5 per cent from end-2019 and 83.5 per cent from end-2018.

Albeit a decline in the last quarter of 2020’s issuance volume the real estate sector witnessed the largest corporate bond issuance volume in 2020 of over $6.09 billion, accounting for over 35 per cent of total issuance value at an average coupon rate of 10.52 per cent. The banking sector also made up for nearly 30 per cent, with an average coupon rate of 6.69 per cent, lower than 7.06 per cent in 2019. Some significant bond issuers included BIDV, VietinBank, HDBank, and TPBank.

The rush of corporate bond issuance has sought attention from yield-hunt investors in the face of ultra-low interest rates.

“Rising medium- and long-term capital demands to satisfy stricter regulations on credit safety limits and capital adequacy ratio in 2021 were putting much pressure on commercial banks to raise funds from bond issuance in late 2020,” explained Nguyen Tu Anh, director of the General Economic Department under the Central Party’s Economic Commission. “On the other hand, foreign investors have been closely engaged in the domestic debt market. In 2020, foreign investors were actively net buyers, expect only three months of slight net-selling, with a total net buying value of $179.7 million.”

However, the lack of transparency and independent credit rating agency makes the task of re-evaluating the debts much harder. According to Nguyen Hoang Duong, deputy director of the Banking and Finance Department under the Ministry of Finance (MoF), Decree No.153/2020/ND-CP dated December 31 on private offering and trading of corporate bonds in the domestic and international markets, stipulates that investors are responsible for their own investment decisions and risks.

As per Decree 153, corporate bonds for private offering shall be traded among professional securities investors only, except for cases of implementing judgment or decision of courts that have taken legal effect.

“The state cannot guarantee that issuers would fully pay interests and principal loans on time. Therefore, investors should be extra cautious of the legal framework, as well as dig deep into the full information of bonds they want to purchase. They would have to take responsibility for their own investment decisions and be willing to take risks when buying private bonds,” Duong said.

The MoF also cautioned investors to keep an eye on corporate bonds issued by companies that are members, subsidiaries, or affiliated firms of large corporations.

“Investors must pay close attention on the detailed information about stakeholders and organisational structure of the issuers. It is imperative to have a clear understanding of the companies’ financial health, their business activities, future outlook, and debt obligations. Specifically, do not just follow their parent companies’ reputation,” the MoF noted.

Bao Viet Securities Company added, “We believe that the demand for corporate bond issuance of domestic firms will also decrease, and insolvency risk may occur in a number of businesses in 2021. However, we believe that this risk is unlikely to spread and negatively affect the financial system.”

Nguyen Tu Anh of the General Economic Department cautioned, “Despite its rapid development in recent years, there are still several shortcomings hindering the industry. The scale of the Vietnamese corporate bond market still pales in comparison with regional peers. Furthermore, the secondary market has not been developed yet, and liquidity of corporate bonds after issuance is relatively low. An independent rating agency is still the major absent element.”

On a regional level, an improving global economic outlook and progress on pandemic vaccinations have pushed up bond yields in the emerging East Asia, including Vietnam. According to the Asian Development Bank (ADB), steady expansion in both the government and corporate bond segments supported the growth.

Specifically, government bonds grew 7.1 per cent from the previous quarter to $58.8 billion at the end of December, accounting for 82.8 per cent of the country’s total bond stock. Meanwhile, corporate bonds also sustained their growth momentum, increasing 13.6 per cent from the previous quarter and 169.5 per cent from a year earlier to $12.2 billion.

“Bond markets in emerging East Asia continued to grow, mobilising funding for the region’s sustainable recovery from the pandemic,” said ADB chief economist Yasuyuki Sawada. “Successful vaccination campaigns, accommodative monetary policy stances, and easing of restrictions are spurring on economic activity and shifting the recovery into higher gear.”

VIR

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Robust growth trends projected for investment in healthcare

April 11, 2021 by vov.vn

Kim Dental, Vietnam’s largest private dental care platform, has recently raised US$24 million in a series B round. The investment was led by ABC World Asia, a private equity fund dedicated to investing across Asia, seeded by Temasek. Proceeds from the round, which saw the participation from existing backer Aura Private Equity, will support Kim Dental in expanding the delivery of affordable and reliable oral health services across Vietnam.

Kim Dental owns and operates a fast-growing network of 19 dental clinics across four cities. The clinics provide dental check-ups and treatments as well as more advanced orthodontics, prosthodontics, oral surgery, and implants. Kim Dental employs 120 dentists and dental surgeons, as well as over 600 clinical and operational staff serving over 23,000 patients per month. Kim Dental also operates a dental laboratory to support its clinic network with in-house production of crowns, dentures, and bridges.

Huynh Minh Viet, CFO of Kim Dental said, “With this successful round, we’re now well-positioned to expand our delivery of international quality dental care to the fast-growing communities across the country, thus improving community access and helping to elevate the standards of oral healthcare in Vietnam, so that we achieve more positive overall healthcare outcomes in our country.”

Meanwhile, SK Group is said to be mulling over an investment in Vietnam’s largest pharmacy retail chain, Pharmacity, with an expected value of up to US$90 million, according to Dealstreetasia.

Phamarcity is Vietnam’s largest pharmacy retailer with approximately 500 drugstores. The company has a plan to open its 1,000th store this year.

If the deal is concluded, it would make up SK Group’s second investment in Vietnam’s pharmacy and healthcare market. Last May, SK Investment III, a subsidiary of the Republic of Korea’s third-largest conglomerate SK Group, received 12.32 million shares of Imexpharm Corporation, equivalent to 24.9%.

Michael Han, head of SK Group’s Representative Office in Vietnam said, “There are dozens of industries and companies that we are trying to get to know better here, and healthcare happens to be one of them. It does not necessarily mean that an investment is imminent though.”

However, Han remains upbeat about Vietnam’s healthcare and pharmacy market. Historically, this sector’s growth has been backed by people’s growing concerns about the wellbeing of their family members, environmental factors, rising household income, and the high urbanisation rate – which leads to changes in lifestyles and a higher demand in personal healthcare.

“We believe that the robust growth will continue into the foreseeable future. We have seen a similar trend in the Republic of Korea over the last 20 years or so. In terms of market size, Vietnam is still at the emerging stage, with estimated total value of US$7 billion in 2019, growing at a robust pace of 8% from 2019-2024,” he said.

Meanwhile, a consortium led by Singapore’s state investor GIC Pte. Ltd. has agreed with Vietnam’s largest conglomerate Vingroup to buy a stake in its medical unit, Vinmec, for over US$200 million. However, Vingroup will remain the controlling shareholder of the unit after the deal, Vingroup said in statement last December.

Other funds like Vinacapital and Mekong Capital have seen the prospects of the market and decided to cash in on local healthcare and pharmaceuticals. Last August, VinaCapital invested in Thu Cuc International General Hospital by purchasing a 30% stake for US$26.7 million. In 2019, Mekong Capital also financed pharmacy chain Pharmacity out of its Mekong Enterprise Fund III.

Private equity investments in healthcare are on the rise. Nguyen Thi Vinh Ha, head of advisory at Grant Thornton Vietnam, cited the firm’s survey showing that healthcare is among the most attractive industries for investors, with its growth prospects coming from higher healthcare spending per capita.

“However, the shortage of qualified personnel and inadequate healthcare infrastructure results in a huge supply gap, and the increasing ageing speed of the Vietnamese population will further boost the healthcare demand,” Ha added.

Filed Under: Uncategorized Kim Dental, SK Group, Imexpharm Corporation, healthcare investment, Dealstreetasia, pharmacy retail chain, Economy, ..., healthcare investment opportunities, trends in the healthcare industry 2017, growth in healthcare industry, healthcare projects for high school students, future healthcare technology trends, healthcare growth partners, growth mindset project, projected economic growth, investment growth calculator excel, investment growth rate, equation for investment growth, projected growth rate calculator

Storm heading towards Vietnam’s central region, expected to hit land on Friday

September 17, 2020 by vietnamnet.vn

Noul, the fifth storm to enter the East Sea this year, is gaining strength, heading to the central region of Vietnam and expectedly makes land on Friday.

The fifth storm to enter theEast Sea this year is heading to the central region of Vietnam. — Photo kttv.gov.vn

According to Mai Van Khiem, director of the National Centre for Hydro-Meteorological Forecasting, the storm would directly affect central provinces, especially Quang Binh, Quang Tri, Thua Thien-Hue and Da Nang with wind speeds of 90-100 km per hour and sometimes hitting 135 km per hour.

Heavy rain will blanket the central provinces from Thursday afternoon to Friday night, he said, warning about high risk of flash flood and landslides in the central region.

By 1 pm on Wednesday, the storm’s eye was about 680 km away to the south east of Hoang Sa (Paracels) with the strongest wind of 60-75 km per hour, sometimes reaching 90-100 km per hour.

The storm is moving west-northwest.

It’s expected that by 1pm on Friday, the storm eye will be on the waters close to provinces from Quang Bình to Quang Ngai with wind at the storm eye reaching 100-135 km per hour or more.

After making landfall in central provinces from Quang Bình to Da Nang on Friday afternoon or evening, the storm would be weakened to become a tropical low pressure.

About 1am on Saturday, the heart of the tropical low pressure is on the border area of Lao and Thailand with strongest wind reducing to 40-50 km per hour.

Meeting with ministries and agencies on Wednesday morning to make preparations, Deputy Prime Minister Trinh Dinh Dung raised alert levels, calling for active and timely actions to respond to the storm’s movements.

He asked localities, border guards and the transport sector to tighten control over the operation of fishing vessels and tourist ships at sea so the vessels/ships would avoid entering storm-affected areas and find safe shelter.

By 10am on Wednesday, border guards informed 285,384 people on 58,345 vessels about the storm and instructed them to keep away from possibly affected areas.

According to Border Guard Command, by Thursday morning, about 700 vessels were in the areas possibly affected by the storm. The number does not include vessels/boats/ships that are operating in coastal areas.

Dung asked localities to instruct vessels to head to shelters, ensure safety for human life and property, particularly assist people to move/reinforce aquaculture growing facilities as the central region was a hub of aquaculture production with high economic value in Vietnam.

Localities were also asked to have evacuation plans in place to ensure safety for people living in vulnerable areas like coastal areas, river mouths and landslide/flood-prone areas.

Anti-flood measures must be taken into account to protect urban areas and agriculture production.

The deputy PM asked for review and promptly fix problems at dams and reservoirs of hydropower plants.

Now, many reservoirs in the central region are dry, so their operators must closely oversee and adjust the storage of water to ensure the reservoirs’ safety.

He assigned specific tasks to ministries and agencies, urging them to make use available resources for actively, effectively and timely responding to the storm.

Vice head of Central Steering Committee on Natural Disasters Prevention and Control Tran Quang Hoai said that proper attention must be paid to reservoirs because damages were found at 55 reservoirs in the central region including 16 ones Thanh Hoa, ten in Nghe An, eight in Ha Tinh, 12 in Quang Bình, six in Quang Tri and three in Thua Thien-Hue.

Another 41 reservoirs are under construction and 99 locations along key sea dyke system from Thanh Hoa to Da Nang need to be protected when the storm makes landfall.

There are also 26 dyke works including 13 carried out on sea dyke system or rivers mouths are being built.

PM urges response efforts as tropical storm heading towards central region

Prime Minister Nguyen Xuan Phuc on September 16 issued a notice, asking relevant ministries, agencies and localities to keep a close eye on the development of Storm Noul and put forth specific tasks.

People’s Committees of cities and provinces need to ensure safety of activities at sea, coordinate with concerned forces to control the operation of vessels, and guide local residents to take preventive measures in order to protect crops, houses and other facilities.

Human resources and equipment should be ready for the evacuation of people in dangerous areas, with attention paid to COVID-19 prevention and control, according to the notice.

The PM has warned of flash floods and landslides in mountainous areas after heavy rains, saying measures are needed to ensure the safety of reservoirs, especially important ones or those under construction.

Meanwhile, the Ministry of Natural Resources and Environment will provide update about the storm for people and relevant agencies.

The Central Steering Committee for Natural Disaster Prevention and Control will inform vessels of dangerous areas, and instruct ministries, agencies and localities in response efforts.

Specific tasks have also been assigned to other ministries and agencies in the notice.

At 4 a.m. on September 17, storm Noul is forecast to be around 450 km to the southeast of Vietnam’s Hoang Sa (Paracel) archipelago, off the central coast, with a maximum wind speed of 90 kph.

Weather forecasting centers in Japan, Hong Kong and the Philippines, and Tropical Storm Risk (TSR) – a leading forecaster and mapper of tropical storm activity – predict the storm will keep strengthening until wind speeds reach 110-120 kph and head toward central Vietnam.

Storm Noul is the fifth formed this year in the East Sea. The fourth storm, Higos, hit last month, making landfall in China.

Natural disasters like droughts, floods and landslides killed 133 people in Vietnam last year and caused losses worth around 7 trillion VND (302.6 million USD), according to the Ministry of Agriculture and Rural Development.

In the first half of this year they claimed 47 lives and caused losses worth 3.3 trillion VND.

The East Sea could see 11-13 storms and tropical depressions this year, half of them affecting the country, meteorologists have warned.

Danang prepares for Storm Noul

The central city of Danang is making preparations to respond to Storm Nodul which has been forecasted to hit central Vietnam soon.

On Wednesday, the Danang Central Steering board Committee on Natural Disaster Prevention and Control issued a dispatch on the response.

The typhoon has been predicted to move towards north-northwest within the next 24 hours.

By 7 am on Thursday, the storm would lay centred in the area which is around 350 kilometres far from the Southeast of the Paracel Islands with the strongest wind power of 75-100 kilometres per hour in the East Sea.

Between 24-48 hours, the storm would continue strengthening. By 7 am on Friday, the storm eye would be off the central provinces from Quang Tri to Quang Nam with a wind force of 100-135 kilometres per hour.

Danang has been warned of being directly affected by the storm, so the municipal Central Steering board Committee on Natural Disaster Prevention and Control called for ships and boats to find shelters to avoid the storm.

The border force has been asked to keep contact with boat and ship owners for the rescue in necessary cases.— VNS/VNA/Dtinews

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