Industry

Vietnam plans to buy 3,000-5,000MW power from Laos in 2020-2030.

The plan also called for the local supporting industries to meet 70% of domestic demand and lift the localization rate in industrial sectors to above 45%.

The company sold more than 50,000 metric tons of polyolefin products in Vietnam in 2021 and aims to increase sales in the country by 30% in 2022.

With rising transport fees impacting the prices of consumer goods, there has been growing concern over the high inflationary pressure.

The latest price adjustment marked the first decline in 2022 after six consecutive rises.

Not only the tourism sector, but the ease of travel restriction after two years fighting the Covid-19 pandemic is also set to be a welcoming sign for trade and investment activities.

The city has a total of 70 operational industrial clusters and parks in 17 districts and towns.

The privatization and divestment of state capital at SOEs would be carried out in a transparent, feasible, and effective manner.

Vietnam currently has two oil refineries meeting 70% of the local demand.

The city will also support traditional craft villages to develop technical infrastructure, equipment and machinery, improve production capacity and product quality.

Government agencies would continue to closely follow the impacts of the Russia-Ukraine conflict on prices of petrol and other products to map out different scenarios accordingly.

Up to 40% of the electricity generation in the two-month period was sourced from EVN.

The digitalization process would offer policymakers various tools to continue the reform process and bring more benefits for the people and businesses.

The move is essential against potential shocks on the national economy, especially the impacts from the Ukraine-Russia conflict and declining production capacity from OPEC that are resulted in skyrocketing fuel and gas prices on the global market.

The ministry has requested 10 major fuel distributors to import an addition of 2.4 million cubic meters of refined petroleum in the second quarter.

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Vietnam is an attractive investment destination for South Korean businesses, with the production of electronics, pharmacy, cosmetics, and leather.

As many as 43 out of 100 Adidas pairs of shoes sold globally are made in Vietnam.

Vietnam holds only a 25.1% stake in the US$9-billion joint venture that marked the participation of two Japanese investors and one Kuwaiti.

Higher new orders and stable business conditions contributed to a fifth successive increase in manufacturing production.