This is the first investment by Chubu in Vietnam As of February 2021, Bitexco Power Corporation (BPC) owned and managed 21 hydropower plants and one solar power plant with a combined gross generating capacity of 1,038MW in Vietnam. BPC is currently a leading renewable energy firm focusing on hydropower and solar PV generation in Vietnam's private sector. Chubu has successfully completed a share purchase agreement with several shareholders as well as a share subscription agreement with BPC. After the agreements are completed, Chubu will also establish a shareholders' agreement with BPC and Bitexco Investment Corporation (the majority shareholder of BPC). Chubu will become a 20 per cent shareholder in BPC if necessary regulatory permissions are obtained. This is Chubu's first investment both in Vietnam and abroad in a hydropower enterprise. As of December 2020, around 2,000 Japanese firms have established business operations in Vietnam. As the country is experiencing rapid … [Read more...] about Japan-based Chubu to scoop up 20 per cent share in Bitexco’s renewable energy arm
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Domestic retail petrol prices hit three-year high Domestic retail petrol prices rose by more than VND500 per litre on average as of 3pm on September 25 following the latest price adjustments made by both the Ministry of Industry and Trade and the Ministry of Finance. This latest changes have seen the retail price of E5 RON 92 bio-fuel record a rise of VND573 per to hit VND20,716 per litre, while that of RON 95 increased by VND548 to peak at VND21,945 per litre. Furthermore, the selling price of diesel 0.05S was capped at VND16,586 per litre, while the prices of kerosene and mazut oil stood at VND15,643 per litre and VND16,580per kilo, respectively. Retail petrol prices have therefore witnessed an increase for the second consecutive time over the past month, with the price of E5 RON 92 bio-fuel rising to its highest level since October, 2018. During the latest price adjustments, the two ministries decided to use the Price Stabilization Fund for RON 95 at VND150 per litre, … [Read more...] about VIETNAM BUSINESS NEWS SEPTEMBER 26
Vietnam remains an attractive destination for foreign direct investment and continues to benefit from a changing global supply chain, US-China trade tensions, and production disruptions in other regions. Many foreign-invested enterprises (FIEs) will continue to pour capital into Vietnam as they see negative impacts caused by Covid-19 as only short-term difficulties. Many foreign investors intend to increase more capital in Vietnam. Photo: ABB Vietnam Nguyen Thi Bich Ngoc, Deputy Minister of Planning and Investment, shared her view at the seminar themed “Covid-19 and FDI: impacts and prospects” held on September 27. She said that many foreign investors have confidence in the business environment in Vietnam. Ngoc said the total newly-registered capital, adjusted capital contribution and share purchase of foreign investors in Vietnam as of September 20 increased by 4.4% over the same period in 2020. ADB Country Director Andrew Jeffries said that Vietnam … [Read more...] about Foreign invested enterprises continue expanding investment in Vietnam: say experts
According to the Vietnamese Office for Trade Affairs in the E.U., a large volume of Vietnamese goods exported to the Netherlands are re-exported to other European countries. Therefore, Vietnam is also considered the leading trade partner of the Netherlands in Asia. The Vietnam-E.U. Free Trade Agreement (EVFTA) is expected to open up greater for businesses from both countries to foster their partnership. According to the Ministry of Industry and Trade (MoIT), Vietnam and the Netherlands have shared close ties in various fields, especially industry, green and renewable energy, circular economy and emission reduction towards sustainable development. Meanwhile, the Dutch Government and investors have shown interest in partnering with Vietnam in trade, industry and energy. Vietnam has been and will be a good choice for Dutch investors, while the business communities of both sides have sought business and investment opportunities in each other’s country, thus optimizing advantages … [Read more...] about Netherlands – Gateway for Vietnamese goods to enter E.U.
Tourists visit Cu Chi outlying district where the Covid-19 pandemic has been under control (Photo: SGGP) Attending the meeting were Secretary of HCMC Party Committee Nguyen Van Nen , Chairman of the city People's Committee Phan Van Mai , Deputy Minister of Defense Senior Lieutenant General Vo Minh Luong who is head of the Government's special working group on Covid-19 prevention and control in the Southern region. According to the draft, the southern metropolis will relax social distancing mandates starting from October 1 under the guideline of the National Steering Board on Covid-19 Prevention and Control. So far, the city’s fight against the coronavirus pandemic has achieved many positive results with decreased Covid-19 infection cases and deaths. Moreover, the vaccination coverage rate for people aged 18 and over getting the first vaccine jabs has reached over 95 percent and over 33 percent of residents have received the second shots of vaccines. Some green districts … [Read more...] about HCMC prepares for socioeconomic recovery from October