Southern Power Corporation improves power supply reliability

EVN’s total power supply in the remaining half of this year is expected to be 102.1 billion kilowatt-hours (kWh), sourced from both its power plants and electricity purchases from neighboring countries.The power corporation expects to sell 92.1 billion kWh of electricity to the market over the same period, leaving it with an excess supply of ten billion kWh.EVN is the largest power company in Vietnam, supplying most of the electricity consumed by the local market, as well as selling energy to Laos and Cambodia.In the first half of 2017, the corporation invested in projects worth over VND53.67 trillion (US$2.36 billion),…... [read more]

Local bank finances power project in LaosThien Binh By Thien Binh - The Saigon Times Daily HCMC - LienVietPostBank on Monday signed a credit contract to offer a loan of US$200 million to Viet Lao Power Joint Stock Company to finance the Xekaman 1 hydropower project in Laos. LienVietPostBank is the funding arranger for the syndicated loan. The local bank and Nomura Singapore Limited via its partner Nomura Special Investments Singapore Pte. Ltd granted the syndicated loan of US$243.66 million, equivalent to 50% of the project’s total investment. Nomura Special Investments Singapore Pte Ltd. offered US$50 million while the local…... [read more]

VCCI wants corporate income tax slashed to 20%Lan Nhi By Lan Nhi - The Saigon Times Daily HANOI – Chairman Vu Tien Loc of the Vietnam Chamber of Commerce and Industry (VCCI) has suggested slashing corporate income tax (CIT) rate to 20% from the current 25% from July 1 this year. Speaking with the Daily on Wednesday, Loc said his agency has submitted to the Government a road map for lowering the CIT rate to 20% to help relieve difficulties faced by local firms. This is also one of the proposals that VCCI will send to related committees of the…... [read more]

Considered the first tourism city of the country, Ba Ria - Vung Tau has a long history of tourism development. Located on the coast of the East Sea with a long coastline Ba Ria - Vung Tau has advantages in developing the smokeless industry; welcoming about 10 million visitors annually. To meet the increasing demand of tourists, Ba Ria - Vung Tau tourism has been self-improving to bring the best service; striving towards the goal of high quality tourism, limiting to the maximum the overcharging travellers. To learn more about the efforts of Ba Ria - Vung Tau tourism, Vietnam…... [read more]

It was announced by the investor, namely the consortium of Japanese company Marubeni Corporation and Korea Electric Power Corporation (KEPCO), at the working session between the investors and representatives of Japan Bank for International Cooperation (JBIC), Export-Import Bank of Korea (K-Eximbank), and leaders of the Thanh Hoa People’s Committee.Earlier in June, the Ministry of Planning and Investment granted the investment certificate for the investor. Accordingly, Nghi Son 2 is the first international tender for a large-scale coal-fired power plant in Vietnam. The project is going to be carried out under the build-operate-transfer (BOT) format.The $2-billion plant will be located in…... [read more]

In recent years, especially when Vietnam officially became a member of the World Trade Organisation (WTO), there have been unexpected changes in the global and local market, putting many enterprises into difficulties with big losses, some even limit production and cut workforce …In the context of the global economic slowdown, Duc Khai Corporation has still gained major achievements in its operation with breakthrough in business activities. ViB Forum reporter had an interview with Mr Pham Ngoc Lam- General Director of Duc Khai Corporation about performance and achievements of the company.Duc Khai Corporation has developed into a powerful corporation operating in…... [read more]

The ministry also urged that power cuts to be evenly distributed among localities during the coming dry season. In a document sent to localities on on Feb. 15, the ministrypredicted the demand for power this year willrise by 16 to 17 percentover last year, which willput huge pressure on the national electricitygrid. Due to a serious drought in 2010, water levels at reservoirs at hydro-power plants are very low. In addition, several new thermal-power plants in the north are yet togenerate stable power supplies while a breakdown at the Phu My 3 powerplant on January 23 cut power production at…... [read more]

Viet Nam Energy Association chairman Tran Viet Ngai told Nong Thon Ngay Nay (Countryside Today) his concerns about surging electricity tariffs and the power sector's solvency.How does Electricity of Viet Nam (EVN) calculate power generation cost? The power generation cost is the amount of money spent to produce per one kWh based on input factors like coal, oil, gas and water. It includes expenditure for human resources, operation, management, taxes and machinery depreciation. The cost also covers the payment for transmission, distribution and electricity loss. I can affirm that the electricity price cannot be calculated dishonestly.EVN has said the power…... [read more]

Power price adjustment to be submitted to PM in March. (Photo: VNA)Nen said at the monthly Government press conference on March 2 that the adjustments, with rises of between 7-10 percent, are within the retail price frame for electricity and falls within the MoIT’s authority to decide. MoIT Deputy Minister Do Thang Hai explained that the increase is necessary to match real costs in line with the market mechanism. He clarified that the falling price of oil has little effect on electricity price as oil-fuelled plants produce only 0.55 percent of power generation. Meanwhile, a 22 percent increase was seen…... [read more]

The seminar was held by the Viet Nam Trade Office, the Thai Board of Investment (BOI) and the Federation of Thai Industries (FTI). It attracted experts from Viet Nam's Ministry of Investment and Planning, the Ministry of Industry and Trade's Industrial Policy and Strategy Institute, BOI, FTI, as well as Thai and foreign enterprises in Thailand.The experts provided the seminar's participants with valuable information about the potential for investment and trade in Viet Nam during the process of international integration. The seminar was also a chance to release Viet Nam's policies on attracting investment in the parts supply industry in…... [read more]