Siemens, one of the world’s leading electrical and electronics companies, is looking to participate in wind energy projects in Viet Nam, a company executive said.
Erdal Elver, new president and chief executive officer of Siemens Viet Nam, told reporters in HCMC on Thursday that Siemens had discussed with some partners about the possibility of the company’s participation in developing such projects.
The investors in talks with Siemens over the wind energy generation projects are local and foreign companies, including one from Malaysia, Elver told the Daily after the press conference.
He said Siemens wanted to provide equipment and solutions for the projects, which are now in the stage of study. “There are studies about the possibility to set up wind farms in Vietnam… Vietnam is an excellent country for such wind farms because of its long coastline.”
Elver noted the investment in wind farms was high, but wind energy was environmentally friendly. “In the future, part of energy must be generated from such a source. Many European countries have invested in wind farms.”
Because of much investment, Elver said wind energy projects would need great support of the Government. He stressed the importance of tax incentives and plans to produce a certain percentage of energy from renewable sources.
He gave an example that the governments of Germany and China were supporting and pushing the development of wind farms, and they targeted a certain percentage of energy would be generated by winds.
Elver said it was just a matter of time for Viet Nam to invest in wind farms as it helped protect the environment and create a new source of energy.
In addition to wind energy projects, Siemens is looking for opportunities to provide equipment and solutions for power plants in the pipeline in Vietnam after years of success in this market.
Siemens Viet Nam posted total revenue of 477 million euro in fiscal 2007 and 2008. Elver said the target for 2009 and the years afterward was to grow more than double of Vietnam’s gross domestic product growth and affirm the company’s position as a leading provider of solutions for the country’s major industries including energy, manufacturing and healthcare
Saturday, March 14, 2009
Siemens looks to join wind energy projects in Vietnam
Monday, February 23, 2009
Quang Ngai calls for investment in 70 projects
The Quang Ngai Provincial People’s Committee has released a list of 70 prioritized investment projects in the 2009–2010 period.
They include 40 projects in the Dung Quất Economic Zone, 10 projects in provincial industrial parks and 20 others.
Among those conducted in Dung Quất, there are projects to produce 60,000 tons of ethyl tertiary-Butyl Ether (MtBE) per annum, 30,000 tons of formalin (used in wood sticking glue), 30,000 tons of Polystyrene (PS), 350,000 tons of black carbon, 210,000 tons of Styrene Monomer, and 50,000 tons of lubricant.
A 1,200 MW coal-fuelled thermo power plant, the Vạn Tường eco-tourist site and a trade center of the same name will be also built in the zone.
Ten projects located in industrial parks are those on production of food and fast food, food for livestock, food for shrimps, non-standard components, aluminum bars, mechanical products, cables, electrical appliances, and on building residential areas and service quarters for the Tịnh Phong industrial park.
Thursday, February 12, 2009
PM approves renewable energy, power projects
Prime Minister Nguyen Tan Dung on Feb. 6 gave the nod for a 205 million USD project to develop renewable energy and upgrade networks supplying power to remote areas around the country.
The “Renewable energy development and electric grid upgrade and expansion in remote communes” programme is being funded by the Asian Development Bank.
According to the energy sector, Vietnam has everything required to develop renewable energies from solar, wind, geothermal and, especially, hydro-power sources.
With nine major river systems, it is considered one of 14 top countries in terms of hydropower potential.
But it has failed to make full use of this potential, largely due to the relatively high costs and technology issues.
The country has 500 small hydropower stations with a combined output of 135 MW.
On the same day, Dung also approved a loan agreement for the “Partnership for the poor in agro-forestry development in northern Bac Kan province” project funded by the International Fund for Agriculture Development.
The Minister of Finance will soon sign the agreement.
Earlier, the PM ratified the 600,000 USD “Increasing social auditing capacity of the socio-economic development plan 2006-10” project sponsored by the United Nations Children’s Fund.
Monday, February 2, 2009
Vietnam may allow private investments in telecom infrastructure
Viet Nam may allow private companies to invest in developing telecommunications infrastructure, Deputy Minister of Information and Communications Le Nam Thang said.
The government will seek final approval for a draft regulation from the National Assembly, which is scheduled to meet in May, Thang said in a telephone interview from Hanoi Thursday.
Vietnam’s private companies may not be interested in the market as the spending may be high with rates of return lower than other service-based businesses, said Nguyen Thanh Ha, a Hanoi-based consultant with Vietbid, a company that advises on investments in telecommunications projects.
Viet Nam has delayed the entry of private companies in developing telecommunications infrastructure on concern security will be compromised and foreign providers will edge out domestic operators, Ha said.
Foreign investment in HCM City increases sharply
The foreign direct investment (FDI) in HCM City increased sharply in 2008, with more than 680 newly-licensed and increased capital projects worth nearly US$8.7 billion, up over 3.3 times compared to 2007.
According to the Ho Chi Minh City Committee for Overseas Vietnamese Affairs, 480 enterprises owned by overseas Vietnamese were established in 2008 with a combined investment capital of around VND2,000 billion.
Currently, the total number of valid FDI projects in HCM City is more than 3,140 with a total registered capital of US$25.68 billion.
Thursday, January 8, 2009
Taiwan leads foreign investors in Vietnam
With 1,940 valid investment projects, worth a total of 19.65 billion USD, Taiwan tops the list of 84 countries and territories investing in Vietnam , since the promulgation of the Foreign Investment Law in 1988.
Three quarters of Taiwanese projects are in industry and construction, numbering 1,460 projects valued at 16.2 billion USD, representing 75. The remaining mainly involve in services, agriculture, forestry and fisheries.
Taiwanese have invested in 55 provinces and cities across the country, but a majority concentrate in Dong Nai, HCM City, Binh Duong, Hai Phong, Long An, Ninh Binh, Vinh Phuc, Hai Duong and Ba Ria-Vung Tau.
According to the Foreign Investment Department, Taiwanese investment projects mainly used high technologies and state-of-the-art equipment, especially those involving in motorbike assembly, production of cement, sodium glutamate, synthetic fiber and electronic parts, farming technology, aquatic products farming and processing.
Foreign investors called for investing in Van Phong Port
Deputy Prime Minister Hoang Trung Hai has instructed the Ministry of Transport to design a plan to call for foreign investors to invest in the construction of the Van Phong International Entreport.
According to the Government Office, the Ministry of Planning and Investment, Ministry of Finance, the Van Phong Economic Zone Management Board and related agencies will join hands to develop this plan.
The Deputy PM asked the Vietnam Shipping Lines Group, Vinalines, to raise capital and develop this project. He also requested the project developer to choose capable conductors for the project’s bidding contracts.
The groundbreaking ceremony of the Van Phong International Container Entreport, which was scheduled in early 2008, was canceled after the local government of Khanh Hoa province proposed a huge steel project invested by Posco, a South Korean group in this area.
This project was protested by experts and the people for the worry of possible environmental pollution caused by this steel plant.
On October 31, 2008, Prime Minister Nguyen Tan Dung refused this project, which is worth nearly US $10 billion, saying that the project may affect the future development of the Van Phong International Container Entreport and harm the environment.
Malaysia’s Janakuasa to build $1.5 bln Vietnam power plant
Vietnam has awarded a US$1.5 billion contract to build a coal-fired power plant to Janakuasa Sdn., a Malaysian power generator, in the Mekong Delta province of Tra Vinh, a government official said Tuesday.
“The plant, part of a group of three plants in the province, is under the government’s master plan to ease the power shortage in the country,” Pham Van Chieu, chief administrator of the provincial People’s Committee, said by phone from the province, about 200 kilometers from Ho Chi Minh City.
The 641-hectare Duyen Hai power complex consists of three coal-fired plants with a total investment of about $5 billion and a combined capacity of 4,400 megawatts, according to the plan posted on the Tra Vinh Department of Planning and Investment website.
Duyen Hai 1 plant will be built by Electricity of Vietnam, the state-owned utility, Chieu said. Janakuasa will construct Duyen Hai 2 and a contract has still to be awarded for Duyen Hai 3, he said.
Construction of Duyen Hai 2 is scheduled to start in 2011 and will be completed by 2015, according to Chieu.
“Electricity generation from these plants will supply the national power grid,” Chieu said. “For Duyen Hai 2, the government, Electricity of Vietnam and Janakuasa will work out the sale price, as there are no details about the price yet.”
Monday, January 5, 2009
Vietnam Railway tracks ahead
Viet Nam Railway is to build an express railway to cut travel times between Saigon and Hanoi to only 6 hours. Officials hope to realize the project by 2035.
The big dream of Viet Nam railway
Opened October 1936, the North-South Railway has seen various changes over its lifetime. It was damaged extensively by bombs from the two wars brought by France and America. Innumerous railway employees risked their lives to repair the damage.
The moment the country was reunited and regained independence finally meant peace for the railway. Employees have continuously upgraded the railway and trains to reduce travel times between Saigon and Hanoi from 42 hours to 40, 36 and now to 29. However, the dream of rail officials does not stop there.
A railway transport development strategy for 2020 with a vision to 2050, approved by the Prime Minister on November 20, is expected to develop a modern, rapid and sustainable railway transport system. It will have ten stops over 1,630km: Ngoc Hoi, Thanh Hoa, Vinh, Dong Hoi, Hue, Da Nang, Dieu Tri, Nha Trang, Phan Thiet and An Binh. The project will cost $33 billion, of which $23.1 billion will come from the government to build infrastructure and $9.9 billion from Vietnam Railways to purchase land and set up facilities.
The North-South Express Railway will be built alongside the current track and will be open to the public.
$2 billion initial funding
Vietnam-Japan Consulting Joint Venture (VJC) estimates $2 billion will be needed to clear the ground for installing the railway. The express railway will require 4,261 hectares of land, about 70% is agricultural and forests, 20% is rural and 10% urban. The project will require the removal of 10,000 houses and relocation of 7,000 farmers.
VJC reports that if the plan stays on schedule travel times in 2020 will be Hanoi – Vinh (1 hour and 24 minutes) and Saigon – Nha Trang (90 mminutes). By 2030 these will include Hanoi – Da Nang (3 hours) and Hanoi – Saigon (5 hours 30 minutes to 6 hours and 30 minutes).
The train fare is expected to equal that of air fares.
Source: Sai Gon GP
Oil-field province appealing to foreign investors
The southern oil-field province of Ba Ria-Vung Tau has unveiled a plan of establishing two more industrial parks (IP) to meet an increasing demand from investors, both domestic and international.
The provincial IP Management Board said 40 projects capitalised at over 4,642 million USD were licensed for operation in 12 IPs throughout the province last year.
Of these projects, 21 have involved foreign direct investments with a combined capital of 4.285 million USD and 19 others were domestic investment projects capitalized at some 357 million USD.
The figures represented a two-fold increase over the yearly plan in the number of newly-licensed projects and 15.47 times over 2007 in the volume of investments.
In addition, 30 operational projects have registered to increase their investments by almost 344 million USD.
In short, by the end of 2008, Ba Ria-Vung Tau province boasts 194 valid projects with a total registered capital of almost 11.45 billion USD, including 96 FDI projects capitalised at 8,352 million USD.
Last year saw three new IPs put into operation, expanding the provincial IP territory by more than 3,000 ha, said the management board.
Thursday, January 1, 2009
Chinese province wants to promote economic ties with Vietnam
China’s southwestern province of Sichuan wishes to further develop economic, commercial and investment relations with Vietnam, said Huang Xiaoxiang Vice-Governor of Sichuan province at a seminar to explore opportunities for cooperation between Vietnam and China in Hanoi on December 25.
Located in the centre of China’s southwest region, Sichuan will provide a number of favourable trade and commerce opportunities for both foreign and Vietnamese businesses.
Economic relations between Vietnam and Sichuan have been constantly strengthened with two-way trade turnover increasing by 111 percent in 2007 and over 35 percent in the first 10 months of 2008.
Many of Sichuan’s businesses have invested in Vietnam. Over US$476 million was put into a thermal power plant in Hai Phong and another US$230 million into another plant in Uong Bi.
The provincial authorities have drawn up a plan to expand the system of roads and rail transport between Thanh Do town and Kunming, Yunnan province, China, to facilitate cross-border goods exchange with Vietnam.
In addition, conferences are regularly held to introduce Vietnam’s economic achievements and investment policies and encourage the Sichuan business community to invest in the country.
PetroVietnam, Can Tho target comprehensive cooperation
The Vietnam National Oil and Gas Group (PetroVietnam) is planning to build fertiliser warehouses and a network of distribution in the Mekong Delta city of Can Tho .
The scheme is part of a comprehensive cooperation deal signed between the group and Can Tho city on Dec. 28.
PetroVietnam will consider the construction of office buildings, finance and insurance centres and residential areas in Can Tho - the second largest city in the Mekong Delta region.
In addition, the group will help Can Tho seek other investors both at home and abroad to engage in the city’s development projects.
PetroVietnam previously inaugurated a liquefied gas depot – the largest of its kind in the region - and a nitrogenous fertiliser storage facility at the city’s Tra Noc 2 industrial zone.
Sunday, December 21, 2008
New project promotes corporate responsibility
Vietnamese enterprises will be encouraged to adopt socially and environmentally responsible behavior under a two-year, US$2.5 million project signed Wednesday.
The Vietnam Chamber of Commerce and Industry (VCCI) and the United Nations Development Program (UNDP) said in a joint press release that the project would support the adaptation of a number of international agreements and conventions that relate directly to business operations.
While philanthropic activities remain a part of corporate social responsibility (CSR) strategies, the VCCI-UNDP project will work to ensure that this becomes a core part of any business strategy.
The project will promote CSR through the local UN Global Compact network launched in Vietnam last year. The network is a voluntary corporate citizenship initiative that calls on members to embrace core principles including human rights, labor standards, environment, and anticorruption.
Saturday, December 20, 2008
First glass factory opened in Quang Ngai
Inox Phuoc An Ltd.Co on Dec 17 brought glass factory into operation in Tinh Phong Industrial Park, Son Tinh district, Quang Ngai.
The factory is the first one in the central Viet Nam to produce interior decoration products and safe glass products.
Located on an area of 1.5ha, the factory was completed at the cost of VND 31.5 billion with two workshops producing massive glass products and one workshop producing inox decoration products.
In the first phase of operation, the factory is capable of producing 70,000 inox products and 40,000m2 of glass each year.
Friday, December 19, 2008
International contractors interested in US$6b Kien Luong thermo power project
Tan Tao Group (ITA), Vietnam's leading industrial zone infrastructure developer, yesterday on December 10 offered a competitive bidding invitation for Kien Luong seaport and electricity centre project.
The first phase of the project with a total investment of US$2.5 billion will be invested by ITA. The total investment capital for the whole project could be some US$6 billion. However, according to Dang Thi Hoang Yen, ITA's chair, the exact total investment capital for the project will be determined after the tender and work appraisal.
A representative from ITA said that there are at least six foreign and domestic contractors keen on this tender package such as Black & Veatch, SEI, FHDI, PECC 2 and strategic partners, UK-based International Power, Japan-based Sojitz & Kuyshu and other international contractors.
Kien Luong seaport and thermo power centre is Vietnam's biggest thermo power project invested by a private firm.
The project is located in Kien Luong District in the southern province of Kien Giang will be completed in three phases from 2009 to 2018. The thermo power centre will have an estimated capacity of 4,400-5,200 MW including three thermo power plants namely Kien Luong I thermo power plant with a capacity of 1,200 MW, the Kien Luong plant II with a capacity of 1,200-2000 MW and the Kien Luong thermo power plant III with a capacity of 2,000 MW.
Under Dispatch No 1385 issued by the Prime Minister, the first Kien Luong thermo power plant will be put into operation by 2013-2014 and the second one will start operations by 2015-2016.
SCIC approved to invest in EVN's electric projects
The State Capital Investment Corporation (SCIC) has been approved to invest in electric-power projects by the Electricity of Viet Nam (EVN).
According to a document issued by the Governmental Office, Deputy Prime Minister Nguyen Sinh Hung has approved that SCIC can use its capital to join-invest in electric-power plants by EVN on the principle that EVN and SCIC must hold at least 51% stake in these projects.
SCIC has to be responsible for its selection of ways of investment, investment projects and efficiency as well as.
Highlands province seeks new air routes to boost commerce
The Central Highlands province of Lam Dong has sought approval to open some overseas and domestic air routes, which are expected to boost local tourism and fruit and flower exports.
The provincial People’s Committee has asked that flight routes are permitted between Da Lat Town and nearby countries, including Cambodia, Laos, Singapore and South Korea.
It also suggested flight routes be opened between Da Lat and the central city of Da Nang and the Mekong Delta city of Can Tho, and that the number of flights from the town to Ho Chi Minh City be raised from two to three or four per day.
There is only one airport, Lien Khuong, in Lam Dong Province, which has two flights a day between Da Lat and HCMC, and one between the resort town and Hanoi.
Wednesday, December 17, 2008
US real estate firm opens Vietnam office
Sotheby’s International Realty Affiliates LLC, the US-based luxury real estate network, has opened its first office in Vietnam to service Vietnam, Cambodia and Laos.
Vietnam Sotheby’s International Realty will sell and lease luxury residential properties in Vietnam and around the world.
Michael R. Good, President and CEO of Sotheby’s International Realty said Vietnam was “a very important market” for the company.
The country is “an emerging international tourist destination with rapid urbanization,” Good said in a statement issued on Monday.
The office, located at 6 Thai Van Lung Sreet in Ho Chi Minh City’s District 1, is owned by Indochina Land, a real estate subsidiary of Indochina Capital, according to the press release.
Sotheby’s International Realty and Indochina Land signed an exclusive 25-year licensing agreement for Vietnam in January.
Sunday, December 14, 2008
Steel prices increase
Just after the Ministry of Finance adjusted import tariffs on structural steel, steel producers have increased steel prices by VND0.8m (US$48) per ton compared with prices in November.
Structural steel is currently sold at about VND12m (US$717) per ton in the market. However, prices are still 50 percent lower than peak prices in August.
Steel retailers say that demand for structural steel has increased toward the end of the year, contributing an increase in steel prices.
Vietnam Steel Association says that steel output grew to 300,000 tons in November, double the previous three months.
It is predicted that output will continue to rise by 300,000 tons by December and January, as builders try to finish construction before the Tet holidays.
Steel prices have also been affected by the sharp rise in prices of steel ingots. A ton of steel ingots costs between US$400-450, up from November by US$100-150.
Lam Dong asked to speed up economic restructuring
The Central Highland Province of Lam Dong needed to quicken its economic restructuring, Deputy Prime Minister Hoang Trung Hai said during a meeting with its senior officials yesterday.
The province had not fully explored, or exploited, its potential for the processing of agricultural produce or small thermal power generation, he said.
The deputy prime minister asked participants at the meeting to focus on the implementation of group solutions, the exploration of comparative and potential advantage and sustainable socio-economic development.
Proposals to seek Government help in basic transport and irrigation construction, the support of economic groups and co-ordinated investment for major projects were all approved at the meeting.
