[Round-up] Ministry to Submit Real Estate Plan, S.Korea Group to Build $450-Million Solar Power Plant

Tuan Minh

19:38 18/09/2017

BizLIVE - The Ministry of Construction will submit a plan to the prime minister on promoting stable and healthy development of the local real estate market in this year’s fourth quarter. South Korea's SY Group is seeking to develop a $450-million solar power project in the Mekong Delta province of Bac Lieu.

[Round-up] Ministry to Submit Real Estate Plan, S.Korea Group to Build $450-Million Solar Power Plant

The Vietnamese Ministry of Construction will submit a plan to the prime minister on promoting stable and healthy development of the local real estate market.

Ministry to Submit Real Estate Plan
The Vietnamese Ministry of Construction will submit a plan to the prime minister on promoting stable and healthy development of the local real estate market in this year’s fourth quarter, the Vietnam News Agency (VNA) reported.
This plan will assess the market situation, forecast medium-term development trends and propose solutions, mechanisms and policies to enhance sustainable development of the real estate market. It is expected to remove difficulties in the market, and in particular lead to transparency.
Deputy PM Lauds Belgian Firm’s Energy Projects in Vietnam
Deputy Prime Minister Vuong Dinh Hue has applauded the investment in wind and solar energy in Vietnam of Belgium’s Rent-A-Port and suggested the company work on connecting wind power with Vietnam’s national power grid, VNA reported.
The deputy prime minister visited the headquarters of Rent-A-Port, an engineering and investment company specializing in the development of marine infrastructure and industrial zones, as part of his visit to Belgium from September 15-19.
HCM City to Host Textile & Apparel Accessories Expo in November
Ho Chi Minh City will host the 17th International Textile and Apparel Accessories Exhibition from November 22 to 25, according to the Vietnam Cotton and Spinning Association.
The event is expected to draw about 500 firms from countries including Vietnam, China, India, South Korea and Taiwan (China), across about 700 booths.
Vietnam Revises Rice Export Goal to 5.6 Million Tons This Year
The Vietnam Food Association (VFA) revised up the goal of rice export to 5.6 million tons this year from the 5.2 million tons set in July thanks to a strong rise in contracts signed during August and positive signs of the market.
In the first eight months this year, the country exported more than 3.8 million tons of rice with free on board (FOB) value of $1.66 billion, up 17.7% in volume and 16.6% in value, respectively, on a yearly basis.
Japanese Firms Seek Investment Opportunities in Vietnam
The Vietnam-Japan Investment Cooperation Forum was held on September 15 in Yokohama by Kanagawa Prefecture in collaboration with the Ministry of Planning and Investment and the Embassy of Vietnam in Japan, VNA reported.
The event saw the participation of delegates from nearly 200 Japanese enterprises and more than 40 enterprises in Vietnam’s provinces of Dak Lak, Ha Nam, Hung Yen and Hau Giang.
South Korea’s Group to Build $450-Million Solar Power Plant in Bac Lieu
Authorities of the southern province of Bac Lieu signed a memorandum of understanding (MoU) with South Korea-based SY Group to build a solar power project in the province.
Under the MoU, the SY Group will construct a 400-hectare solar power plant in the Mekong Delta province from 2017 to June 2019 with a total investment of more than 10.24 trillion dong ($451 million). The first phase of the project will have a capacity of 50 MW while the second will bring the capacity up to 300 MW.
Waste Treatment Problem Hinders Coal Power Development
As Vietnam develops its thermal power plant system to meet increasing energy demands, the country faces a new environmental risk arising from the waste generated by those plants.
Official figures show the 21 thermal power plants across the country generate about 15.8 million tons of coal ash and boiler slag, of which only about 5 million tons are treated. Without a systematic waste treatment plan, many plants will soon run out of space to store them.
Hanoi’s Elevated Train Pilot Run Delayed on Capital Shortage
The planned pilot run of the first elevated urban train in Hanoi next month will be delayed amid lagging construction progress and financial shortage.
The Cat Linh-Ha Dong railway was initially scheduled to have its pilot run in early October before it officially opens to the public in the second quarter of next year. But Transport Deputy Minister Nguyen Ngoc Dong admitted after a survey trip to the project last week that it was "almost impossible" to meet the deadline as several sections of the railway project were still under construction.
The railway’s sub-contractors said that the main contractor - China Railway 6th Bureau Group - was late in paying them and responsible for letting the construction falling behind schedule.
Vietnam lost as much as $15 million from crude oil exports to China in the first eight months of this year, after giving its northern neighbor a 2% discount.
The country exported 4.9 million tons of crude oil at $408 per ton to other markets but charged only $400 per ton for the 1.7 million tons it shipped to the neighboring country, according to customs data.
The Vietnam Financial Investor Association (VAFI) has proposed that state-run hospitals in the country turn into utility companies in line with the Law on Enterprises as health treatment facilities are being overloaded.
The proposal has been made in the context of negative signs in the public hospitals such as investment too high in comparison with privately-run facilities, expensive medicines due to a lack of transparent bidding process, and the overload of major hospitals in Hanoi and Ho Chi Minh City.
Japan's Tokai Tokyo Financial Holdings, which offers securities business and provides financial products and services, is forming an operational tie-up with Vietnam's Bao Viet Securities Co. (BVS) in the investment banking sector.
Tokai Tokyo Financial will use the partnership to help Japanese corporate clients acquire Vietnamese enterprises. The company has particularly deep connections with manufacturers in Nagoya, the Nikkei Asian Review reported. 

TUAN MINH

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