- Toyota Vietnam admits technical flaws, rules out recall
Toyota is the largest carmaker in Vietnam. It sold 2,223 units in February. Innova, in particular, is a popular model in the country, used widely by many taxi companies.
- Rise in coal prices causes pressure on cement industry
On March 31, Vietnam Cement Association confirmed the above information. Nguyen Van Thien, the association president said “Associates were noticed about the price increase. Accordingly, Vinacomin’s coal suppliers required cement makers to sign extra contract appendix on a 40% rise in coal prices but this has not been written in official document”.
- Construction of thermal power plant begins in Thanh Hoa
Construction of Cong Thanh coal-fueled power plant kicked off on Mar. 5 at the Industrial Park No. 2, Nghi Son Economic Zone, northern central province of Thanh Hoa.
- Decree to boost investment in support industries
The National Investment Promotion Programme this year would focus on attracting investment in support industries and in private-public partnership projects in infrastructure, Nguyen Thi Bich Van, deputy head of the Foreign Investment Agency, said. It would particularly turn to investors with expertise in these areas, especially from Japan and South Korea, she said.
- Industrial output rises 14.6% in two months
Footwear, paint, metal fabrication and cement were among industries to see substantial growth in the period, while the petroleum industry and truck manufacturing saw declines. Consumer products performed particularly well during the period, climbing 16.5 per cent in January alone, according to GSO expert Do Quang Ha – growth that reflected rising consumer confidence during the lunar new year holiday shopping season.
- Price rise heartens power investors
Speaking at a government’s conference last week, Deputy Prime Minister Nguyen Sinh Hung said the price hike was essential to reduce state budget losses and boost investments in the power sector. The government expects high electricity tariffs will encourage independent private power investors to become involved in power projects.
- Power source with capacity of over 2,000 MW to be launched soon
The 12 units include units 2, 3 and 4 of Son La Hydroelectric; unit 2 of Song Tranh 2 Hydropower; unit 2 of Dong Nai Hydropower; An Khe ; Kanak Hydropower; Dong Nai 4 Hydropower; and expanded Uong Bi Thermal Power Plant 2.
- Cement market shows sign of a tense competition
In the context when cement has showed signs of excess, to survive and grow, cement producers should take cautious steps to adapt and overcome those critical challenges.
- Blackouts to hit nation as crisis looms
“Electricity of Vietnam (EVN) would start reducing power supplies from February 15 but would leave it to provincial electricity regulators to decide where and when to cut the power,” said the ministry’s Science and Technology Department Deputy Director Phuong Hoang Kim. The demand for electricity was forecast to rise by 18 percent against last year while electricity production would be down by 14 percent.
- New transport plan given thumbs up
The plan calls for improved infrastructure and growth rates of 7-9 per cent a year in passenger and goods transport. The plan to 2020, which extends to 2030, calls for building 580km of new expressways and major provincial roads, as well as upgrading existing roads. Under the plan, 80 per cent of rural roads would be paved by 2020.