After leaving its project in South Cam Ranh Industrial Zone in the central province of Khanh Hoa abandoned for eight years, Shipbuilding Industry Corporation (SBIC) may soon lose its licence to develop the project. RELATED CONTENTS: Slim opportunity for SBIC’s solar power project Khanh Hoa’s relentless pleas to revoke According to a source of VIR, the Ministry of Planning and Investment (MPI) recently submitted to the Government Office document No.3541/BKHDT-QLKKT about revoking SBIC’s investment certificate for infrastructure construction in South Cam Ranh Industrial Zone. In particular, MPI agreed to the Khanh Hoa People’s Committee’s earlier proposal, and requested the prime minister (PM) to allow the Van Phong Economic Zone Management Board, under the directions of Khanh Hoa, to revoke the project’s investment certificate based on investment and investment-related regulations. “The arising problems (if any) will be solved by the … [Read more...] about SBIC investment certificate for South Cam Ranh IZ to be revoked?
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After 24 years in Vietnam, Schneider Electric has given the country a vote of confidence with its new manufacturing plant located in Saigon Hi-Tech Park in Ho Chi Minh City. Yoon Young Kim, country president of Schneider Electric for Vietnam, Myanmar, and Cambodia, spoke with VIR’s Thanh Van about the importance of the new plant and how the company will leverage its latest investments to accelerate operations in Vietnam. What would you say about the development of the company’s Vietnamese branch over the past 24 years? Schneider Electric has experienced a double-digit growth rate in Vietnam in recent years, thanks to the country’s fast-growing economy. After two decades in Vietnam, Schneider Electric has expanded its operations across many segments. In the real estate sector, Schneider Electric has a diverse portfolio, including commercial, residential, industrial buildings, and data centres. Meanwhile, in the energy field, we offer energy management and … [Read more...] about New Schneider Electric plant reflects firm’s global concept
Buildings still electricity guzzlers Thuy Dung HANOI – Buildings in Vietnam are and will remain the largest consumers of electricity despite plenty of regulations on green buildings. According to the European Chamber of Commerce in Vietnam (EuroCham), the rapidly growing middle class and its associated lifestyle which includes intensive air-conditioning use, accounts for a big proportion of energy consumption growth in the main cities of the country. Tomaso Andreatta, chairman of the green growth sector committee of EuroCham, said the development of green buildings in Vietnam is still in its infancy with only 40 buildings with green certification. This is due to a lack of enforcement of regulations and there is little or no incentive to reduce operating costs due to low energy prices. There are already several measures taken by the Government and the Ministry of Construction since 2010, such as Decision 567/QD-BXD (30-40% non-fired brick usage by 2020); Directive 10/CT-TTg … [Read more...] about Buildings still electricity guzzlers
Vinatex to build second factory in Kien Giang The Vietnam Textile and Garment Group (Vinatex) will invest 210 billion VND (91 million USD) into building its second factory in the Mekong Delta province of Kien Giang. Construction of the 3.7 ha factory in An Bien district will start on March 14 and is expected to be completed in the first quarter of 2017. The factory will have 32 production lines with a total capacity of 12 million products per year, bringing in annual revenue of about 850 billion VND (nearly 37 million USD). It is expected to generate jobs for about 2,000 people and contribute about 5 billion VND (218,000 USD) to the State budget per year. Last year, the group put into operation its first factory in Go Quao district, employing 2,000 locals. So far, Vinatex and its affiliates have invested in 11 plants in the Mekong Delta region, creating 23,000 jobs. Short-term deposits hit 5.5 percent cap chasing long-term highs After pushing long-term rates to a two-year high of 8.38 … [Read more...] about BUSINESS IN BRIEF 12/3
HCM City aims to attract Finnish investment Vice chairman of the HCM City People's Committee Lê Văn Khoa said he hoped to strengthen co-operation with Finland's investors, particularly in technology during a meeting on Thursday with Lenita Toivakka, Finland's Minister for Foreign Trade and Development in HCM City. The city is investing heavily in road infrastructure and different kinds of public transport, Khoa said at a reception held for Minister Lenita Toivakka and a Finnish business delegation. Information technology, communications, education, energy, environment and waste-water treatment are all areas in which HCM City and Finland will cooperate. In HCM City, Finland has invested in six projects worth a total of US$2 million, mostly in the information and communications, science and technology and processing industry. The figure is moderate compared to the total of US$48 billion in foreign direct investment that has poured into the city, he said. Toivakka suggested that the … [Read more...] about BUSINESS IN BRIEF 13/3