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December 4

Released at: 11:20, 04/12/2017 PRESS WATCH

December 4

VET's round-up of news from Vietnamese media for December 4.

Sumitomo licensed to build Khanh Hoa thermal power project

Japan’s Sumitomo Corporation has received an investment license to develop the Van Phong 1 thermal power project worth $2.58 billion in the south-central province of Khanh Hoa. It previously signed an investment agreement with the Ministry of Industry and Trade last May. Work will begin next year on the 1,320 MW station, covering more than 350 ha in Ninh Hoa Town and expected to boost the development of the Van Phong Economic Zone. The investor proposed building the plant in 2006, and in 2009 the government agreed to the project being developed in the build-operate-transfer mode.

Power prices increase

The average retail price of electricity will rise 6.08 per cent today, December 4, from VND1,622 per kWh to VND1,720 per kWh, excluding VAT, according to the Ministry of Industry and Trade. Prime Minister Nguyen Xuan Phuc gave the State-run Electricity of Vietnam (EVN) the go-ahead to do so after 2016 electricity production and trade costs had been taken into consideration. In addition to input costs, the PM considered relevant fees that were not included in the 2016 electricity production and trade costs and the 2017 cost estimates in line with his Decision No. 24/2017/QD-TTg. The PM issued a new mechanism stipulated in the decision last July, allowing EVN to raise the average power retail price when input costs rise 3 per cent, instead of 7 per cent as before.

Vietnam nearly alone in seeing falling auto sales

Vietnam and Brunei were the only two auto markets among ASEAN members to see revenue fall this year, according to a report from the ASEAN Automotive Federation. Vietnam sold 4.2 per cent fewer cars as at November this year compared to the same period of 2016, down from 193,000 cars to just under 185,000. The decline was only better than Brunei’s, which saw a fall of 7 per cent year-on-year, from over 9,400 cars in 2016 to around 8,700 in 2017.

Six countries added to e-visa pilot

The government has decided to add six more countries to its pilot e-visa program, according to Government Resolution No. 124/NQ-CP dated November 29. Citizens from Australia, the UAE, Canada, India, the Netherlands, and New Zealand can apply for e-visas to travel to Vietnam from the date of signing.

ADB loans to fund horticulture project

The Asian Development Bank (ADB) signed loan agreements on December 1 worth $20 million with Agripacific Holdings (APH) and Kunming Hasfarm Flowers (KHF) to develop high-value horticulture in Vietnam, China, and Indonesia. ADB will lend the equivalent of $15 million in US dollars and Japanese yen to APH, a major grower of cut flowers in Asia, and the equivalent of $5 million in Chinese yuan to KHF, APH’s main subsidiary for operations in China.

Export information portal launched

Vietnamese exporters can now obtain all necessary information about the European market at www.viet-export-win.com, which has been launched in Ho Chi Minh City by the Ministry of Industry and Trade in cooperation with the EU-MUTRAP Project. Mr. Dinh Sy Minh Lang from the ministry’s European and American Market Department said the portal provides up-to-date information on EU regulations, tariff incentives, international standards, market trends, products that can be sold in the EU, buyers’ perceptions, and sector news.

MARD to adopt solutions on illegal fishing

The Ministry of Agriculture and Rural Development has approved a plan on implementing urgent solutions in response to the EU’s warning about illegal, unreported, and unregulated (IUU) fishing. Many solutions have been devised in line with the EU’s recommendations. They include aligning the legal framework with regional and international regulations, effectively implementing the amended legal regulations on IUU fishing, and effectively implementing international regulations and management measures through strict punishment.

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