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E-commerce platform for high-quality VN goods set up

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An e-commerce platform was launched to help members of the Business Association for Vietnamese High Quality Product promote their goods. – Photo Việt Dũng

HCM CITY – An e-commerce platform to sell products designated as “high-quality” was launched yesterday (January 21) by the Business Association of High Quality Vietnamese Products and Digital Transformation for SMEs Group. 

Phạm Nguyễn Thiên Thư, an executive of the association, said the platform would “act as an official channel for promoting products under the Vietnamese High Quality Products programme.”

It will help the association’s members promote their brands and customers buy high-quality and genuine goods.

The platform aims to attract around 600 businesses from a variety of industries such as confectionery, food and textiles.

They can benefit from its extensive promotion programmes, marketing and sales solutions and training from the Digital Transformation for SMEs Group (DTS).

Monthly themed fairs will be held online, with the first one running from January 23 to February 5, to help businesses promote their products for Tet.

Trương Gia Bảo, chairman of DTS, said it has been helping local businesses operate on different e-commerce platforms.

Businesses would be verified before they could join the platform, he said.

The platform is at https://hvnclc.chophienonline.vn/.

The e-commerce market was worth US$11.8 billion last year following a 10 per cent increase over 2019. Around 53 per cent of the country’s population bought online. –

Source: https://vietnamnews.vn/economy/859669/e-commerce-platform-for-high-quality-vn-goods-set-up.html

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UK investors eye renewable energy in Vietnam

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Investors from the UK were showing significant interest in investing in renewable energy projects in Vietnam, especially wind power, 

expecting the Vietnamese Government to introduce long-term support policies as well as simplification of procedures for project implementation.

UK investors eye renewable energy in Vietnam hinh anh 1

A wind farm in Binh Thuan province (Photo: VNA)

British Ambassador to Vietnam Gareth Ward said at the UK – Vietnam Renewable Energy Dialogue on Wednesday that clean energy was becoming a global trend, adding that every 1 investment USD in clean energy would help generate from 3-8 USD.

The Vietnamese Government in 2015 approved the renewable energy development strategy to 2030 with a vision to 2050 which aimed to increase the percentage of renewable power from 35 percent in 2015 to 38 percent in 2020 and 43 percent in 2050.

The Government also introduced incentive policies to encourage the development of wind power, biomass energy, energy from waste and solar power.

Hoang Tien Dung, Director of the Ministry of Industry and Trade’s Electricity and Renewable Energy Authority, said developing renewable energy was important in the context that sources for hydropower were being exhausted, thermopower was limited due to commitments to global climate change and gas-fired power had high production costs.

According to the draft national power development planning for 2021-30 period with a vision to 2045, Vietnam had large potential for renewable energy development which was estimated to amount up to 855GW, mostly solar power (434GW), and wind power (375GW). The potential for off-shore wind power was estimated at 158GW.

Off-shore power was attracting increasing interest from foreign organisations and investors, Nguyen Ninh Hai, Head of the Renewable Energy Department under the Electricity and Renewable Energy Authority, said.

Hai said that as off-shore wind power was a new thing to Vietnam, the Ministry of Industry and Trade was cooperating with some research organisations to have a comprehensive evaluation about the off-shore wind power development potential in the country.

Bui Vinh Thang, Director of Mainstream Renewable Power Vietnam, said that the Government’s planning and policies played a very important role for renewable energy investors, especially in wind power and off-shore wind power.

Benjamin Dubas, a representative from Lightsource BP, said that renewable energy investors expected the transparency and stability of policies in the long term to invest in Vietnam, especially feed-in tariffs (FIT).

According to Dung, FIT pricing was applied to accelerate investment in renewable energy in the first stage in Vietnam but this mechanism would not be maintained for a long period and be replaced by competitive bidding when the technology development helped push down prices of solar and wind power.

He added that the national power development planning which was being completed would give priority to renewable energy on the basis of ensuring balance of power sources and the power transmission between regions.

The ministry expected to continue receiving support from the UK in renewable energy, especially off-shore wind power which the UK had experience in and Vietnam had large potential.

By the end of 2020, the total renewable energy output accounted for around 25 percent of the total output worth 69,000MW of the Vietnam’s power system. There were 148 solar power projects with a total capacity of more than 8,800MW, 100,000 rooftop solar power projects with a total capacity of 9,300MW, and 11 wind power projects with a total capacity of 511MW./.VNS

Source: https://vietnamnet.vn/en/business/uk-investors-eye-renewable-energy-in-vietnam-715833.html

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Mitsubishi pulls out of central Vietnam coal plant

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Mitsubishi pulls out of central Vietnam coal plant

The logo of Mitsubishi Corporation is displayed at the entrance of the company headquarters building in Tokyo, Japan, April 26, 2016. Photo by Reuters/Issei Kato.


Japan’s Mitsubishi Corp has decided to pull out of a coal-fired power plant in central Vietnam amid growing international concern about environmental impacts.

The Japanese trading house will pull out of the 2-gigawatt Vinh Tan 3 project, planned to be located in the southern province of Binh Thuan, because of climate change targets, Reuters reported, citing two anonymous sources.

Without mentioning Vinh Tan 3 specifically, Mitsubishi said in a statement that it was committed to reducing its investment in coal power in line with international climate goals.

The 2-gigawatt plant was originally scheduled to come online in 2024.

OneEnergy, a joint venture of Mitsubishi and Hong Kong’s CLP group, holds a 49 percent interest in the $2 billion project. State-owned utility Vietnam Electricity owns another 29 percent. Chinese companies are handling materials procurement, construction and equipment delivery.

This marks Mitsubishi’s first withdrawal from a coal plant project. The trading house has said it will not build any new facilities of this type after Vung Ang 2, a Nikkei report said.

Mitsubishi still has a stake in the Vung Ang 2 coal power plant being built in the central province of Ha Tinh, which is more widely known after being subject to critical scrutiny by environmental and other groups as well as investors.

Source: https://e.vnexpress.net/news/business/companies/mitsubishi-pulls-out-of-central-vietnam-coal-plant-4240625.html

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Unable to cover expenses during Covid-19, owners sell hotels at cheap prices

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Many offers to sell coastal hotels in Da Nang have appeared on real estate forums these days. Most of them are located in districts Son Tra and Ngu Hanh Son.

Unable to cover expenses during Covid-19, owners sell hotels at cheap prices

A hotel put up on sale

On just one real estate website on February 22 many ads were listed.

A 4-star hotel on Vo Nguyen Giap street, 600 square meters, with 19 stories, 125 rooms and 2 conference rooms is offered at VND440 billion.

Hotels on the major streets of Ha Bong, Tran Bach Dang, Ho Nghinh, Vo Nguyen Giap and Ho Xuan Huong are offered at tens or hundreds of billions of dong.

Hoang Lam, the owner of a hotel on Tran Bach Dang street, said accommodation service providers have been hit hard by Covid-19.

“We have been struggling to survive by cutting costs. However, as capital is getting exhausted, hotel owners have to liquidate assets to pay bank debts,” he said.

“Selling hotels is unavoidable as there is no source of revenue, and the operation cost is high,” he said.

Do Van Hien from Dana Hotel, a broker, said a lot of hotels in Da Nang have been put up for sale since the second Covid-19 outbreak.

“The hotels for sale are 2-4-star. The prices have fallen by 20 percent and buyers are mostly from northern provinces,” Hien said.

According to Hien, 3-star hotels are priced at VND20-100 billion, while 4-star hotels are at least VND280 billion. The value of hotels depends on the locations, area, quality, numbers of rooms and brands.

The transactions of 4-5-star hotels, which have strong brands, are confidential. Hotel owners only work with prestigious brokers, and buyers have to prove their financial capability.

Hien said no one wanted to sell hotels in 2016-2019 because they could make a high profit from the business. But since 2020, guests are coming in dribs and drabs, and operation costs and loan interest rates are high.

Cao Tri Dung, chair of the Da Nang Tourism Association, admitted that tourism services have become nearly frozen and many hotels have been put up on sale.

“The pandemic resurgence before Tet blocked sources of guests. Ninety percent of clients cancelled or postponed plans to come to Da Nang,” he said.

He said this is common in a market economy, and that it is time to restructure the accommodation segment.

According to Da Nang People’s Committee, the total number of guests staying at accommodation facilities in the city in January 2021 was 251,094, a 65.6 percent decrease compared with the same period last year. 

Ho Giap

Source: https://vietnamnet.vn/en/business/unable-to-cover-expenses-during-covid-19-owners-sell-hotels-at-cheap-prices-715493.html

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