Terra Wood Eyes $400 Million Green Energy Plants in Vietnam
Terra Wood Vietnam, a German-owned energy company based in Ho Chi Minh City, is reportedly planning to develop two power plants Vietnam’s central province of Quang Ngai.
The plants will have a total capacity of 300 megawatts (MW), or 150MW each. They will cost around $400 million in total, that is, $200 million each.
Vietnamese Feed Market Estimated to Reach $9.52 Billion by 2021
Vietnam’s feed market is projected to reach a value of $9.52 billion by 2021, at a CAGR of 5.6% from 2016 to 2021, according to the new market research report titled “Vietnamese Feed Market, by Ingredient Type, Livestock Type.”
The market is driven by factors such as gradual shift from unorganized livestock farming to organized sector and the growing awareness regarding the importance of health and hygiene of livestock. The support provided by the government to foreign companies has also led to the development and growth of this market.
Loan-Deposit Ratios of State-run Banks Fall
The loan-to-deposit ratio (LDR) of eight state-owned commercial banks dropped to 93.93% at the end of June, the lowest over the past 11 months, according to data of the State Bank of Vietnam.
This was a significant fall from 99.11% earlier this year, but still higher than the safety threshold set at 90%.
Food Export Benefits Little from TPP
Vietnam’s food exports will benefit little from the Trans-Pacific Partnership (TPP), the Vietnam News Agency (VNA) cited experts as saying at a food processing industry workshop held by the HCM City
Department of Trade and Industry in collaboration with the Food and Foodstuff Association of HCM City on August 8.
Most enterprises in the food industry are small and medium-sized and are limited in terms of capital and technology. They have also been slow to learn about the TPP, so most will not be able to take advantage of the agreement.
Schneider Electric Vietnam Appoints New Head
France-headquartered Schneider Electric has appointed Yoon Young KIM as country manager for its operations in Vietnam, Myanmar and Cambodia starting the upcoming September, according to ICTnews.com.
Schneider Electric Vietnam will expand its operations in Vietnam. Its new plant is set to start operation in the Saigon Hi-tech Park in early 2017.
Ministry Works to Remove Bottlenecks for Exports
The Ministry of Industry and Trade is enacting measures to remove bottlenecks for exports in the remaining months of 2016, VNA cited Deputy Minister Hoang Quoc Vuong as saying.
Vietnam’s export turnover increased 5.3% year-on-year to $96.83 billion between January and July. However, this increase is much lower than the yearly target of 10% that the National Assembly has set, and the export growth is likely to stand at only 8% for the whole year if prompt measures are not implemented, said
French Firms Interested in Transport Projects in HCM City
Businesses from France are interested in transport projects in Ho Chi Minh City, French Ambassador to Vietnam Jean Noel Poirier was quoted by the Sai Gon Giai phong newspaper as saying on August 8.
He made the statement at a meeting with Secretary of the municipal Party Committee Dinh La Thang in the populous city, which is developing transport, especially the underground system.
Scheme to Speed up Customs Clearance Time in Vietnam
The General Department of Customs has completed a draft scheme to implement the National Single Window (NSW) mechanism from 2016 to 2020 for administrative reform in Vietnam, according to VNA.
A decision from Prime Minister Nguyen Xuan Phuc and four ministerial circulars instructing businesses to use the NSW is expected to be issued soon.
Can Tho Attracts $175 Million in FDI
Can Tho City has attracted $175.7 million of foreign direct investment (FDI) this year, including a South Korean-invested $171 million shoe-production plant that will be the largest FDI project in the Mekong Delta region.
The city also granted licenses to two FDI projects worth a total of $4.26 million last month.
Typhoons Mirinae and Nida hit Vietnam in July and August, causing losses of more than six trillion dong ($300 million) to the country and leaving 20 people dead and missing, according to the Ministry of Agriculture and Rural Development.
Vietnam Medi Pharm Expo Planned in HCM City
The Vietnam Medi Pharm Expo 2016 will be held at the Saigon Exhibition and Convention Centre, Ho Chi Minh City, from August 11 to 13, 2016, according to VNA.
This year, 280 businesses will be participating in the expo, including giant corporations, leading global companies from countries and territories such as the United States, France, Germany, and Italy.
The outlook for the Vietnamese economy remains positive in the medium term as a number of key sectors are expected to continue to hold up in the coming quarters although the country’s GDP posted a softer-than-expected performance in the first half of this year, HSBC said in a report.
The Dung Quat Economic Zone Authority has decided to stop the multi-billion-USD Guang Lian steel project invested by Taiwanese conglomerate E-United Group after a decade-long delay, according to the Saigon Times Online newspaper.
The decision was made last month, citing the investor’s violations of local laws on investment and land, a source was quoted as saying.
South Korea’s Seoul Semiconductor Co., Ltd has received a license to invest $300 million in a plant to produce semiconductors and light-emitting diodes (LEDs) in Ha Nam
province in northern Vietnam, Hanoi-based lender BIDV said in a press release.
The South Korean firm will develop the facility on an area of 7.5 hectares in the expanded Dong Van 1 Industrial Park.