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Ho Chi Minh City proposes construction of $6bn int’l transshipment port

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Authorities in Ho Chi Minh City have proposed the construction of a US$6 billion international transshipment port in outlying Can Gio District.

The proposal was made by chairman of the municipal People’s Committee Phan Van Mai in his document sent to Prime Minister Pham Minh Chinh on Thursday.

The investment into the port was originally suggested by MSC Group – the world’s largest shipping group, Vietnam Maritime Corporation, and Saigon Port.

The project is expected to have about 7.2 kilometers of wharves and cost approximately $6 billion.

The port will be able to receive the world’s largest container ship, which can carry 24,000 twenty-foot equivalent unit (TEU) containers, while its capacity will be around 10-15 million TEUs.

The implementation of the project will be divided into seven phases, with the developers hoping that the first phase will be initiated in 2024 and put into operation in 2027.

The final phase is expected to be put to use in 2040.

The existing Can Gio wharf is located at the mouth of Cai Mep River, a location with favorable natural conditions in terms of channel depth on an international maritime route, according to the Ho Chi Minh City administration.

The wharf can accommodate container ships measuring up to 250,000DWT (24,000 TEUs).

This area has the perfect conditions to form an international transshipment container port, creating a competitive advantage for Vietnam against other countries in the region and a breakthrough in the marine economic development of Ho Chi Minh City and the whole country.

The municipal People’s Committee requested the prime minister to charge the Ministry of Transport with assisting the metropolis in assessing the advantages, opportunities, and ability to meet the requirements needed for the construction of the port.

The administration also suggested that the premier make necessary adjustments to the long-term plan so that the project can start within the 2021-30 period.

The volume of goods through Ho Chi Minh City’s seaports is anticipated to increase five percent during the 2021-25 period, the administration added.

The early implementation of container port projects is necessary to meet the current and future import-export needs of Ho Chi Minh City and the southern key economic region in general.

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Source: https://tuoitrenews.vn/news/business/20220701/ho-chi-minh-city-proposes-construction-of-6bn-intl-transshipment-port/67897.html

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Owners of condotels, officetels get title deeds

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Buyers of condotels, officetels and resort villas can have ownership certificates from May 20 under a new decree guiding the implementation of the Land Law.

On April 3, 2023, the Government issued Decree No.10 on amending and supplementing several decrees guiding the implementation of the Land Law from May 20.

The ownership term of the condotel depends on the purpose of land use following current regulations but not exceeding 50 years of the ownership term for land allocated or leased by the State for commercial or service use.

Buyers may only own land and apartments during the remaining land use period, not for long-term use as residential land.

According to experts, the Government’s decree will remove legal bottlenecks for investors and buyers of condotels, officetels and resort villas.

Experts said that if legal problems in the condotel, officetels and resort villa market are resolved, it can restore nearly 239 frozen projects nationwide, with a total value of about 30 billion USD./.

Source: https://en.vietnamplus.vn/owners-of-condotels-officetels-get-title-deeds/253607.vnp

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Vietnam invests over 316 million USD abroad in five months

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Vietnam invested nearly 316.4 million USD abroad in the first five months of this year, equivalent to 93.5% of the figure recorded in the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Vietnam invests over 316 million USD abroad in five months hinh anh 1Illustrative image (Source: VNA)

Hanoi – Vietnam invested nearly 316.4 million USD abroad in the first five months of this year, equivalent to 93.5% of the figure recorded in the same period last year, according to the Foreign Investment Agency under the Ministry of Planning and Investment.


Of the total, 142.7 million USD was poured into 47 new projects, or 48.6% of the figure in the same period in 2022 while 173.7 million was added to 16 underway ones, a year-on-year increase of 3.9 times.

Vietnamese investors abroad invested in 13 sectors, especially retail and wholesale, information and communications, finance, banking, agro-forestry-fisheries.

In the January-May period, Vietnamese investments landed in 20 countries and territories, led by Canada with one new and one expanded project worth over 150.2 million USD. It was followed by Singapore, Laos, and Cuba.

The agency said that as of May 20, Vietnam had operated 1,648 valid projects abroad with combined investment of nearly 22.1 billion USD, including 141 by State-owned enterprises worth 11.67 billion USD, accounting for 52.8% of the country’s total.

Vietnamese investment abroad is mostly in mining (31.5%) and agro-forestry-fisheries (15.6%).

Leading destinations for Vietnamese investors are Laos (24.4%), Cambodia (13.3%), and Venezuela (8.3%)./.

Source: https://en.vietnamplus.vn/vietnam-invests-over-316-million-usd-abroad-in-five-months/253762.vnp

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Electricity imports from Laos, China account for just a small part: ministry

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Electricity imports from Laos and China accounted for just a modest part of the total electricity demand of Vietnam, Deputy Minister of Industry and Trade Dang Hoang An.

Electricity imports from Laos, China account for just a small part: ministry hinh anh 1Workers of Vietnam Electricity check the transmission system. (Photo: VNA)


Hanoi –
Electricity imports from Laos and China
accounted for just a modest part of the total electricity demand of Vietnam,
Deputy Minister of Industry and Trade Dang Hoang An.

An made the statement in response to National Assembly deputies’ question
about why Vietnam had not connected domestic renewable energy projects with a
total capacity of 4,600 MW to the national power grid but increased imports
from Laos and China.

NA deputy Ta Thi Yen said at a meeting late last week that while the
negotiations of pricing to connect renewable energy projects to the national
power grid faced roadblocks, Vietnam was forced to increase the import from
Laos and China to make up for the shortage. This was a huge waste when hundreds
of solar and wind power energy projects could not generate power for
consumption while the economy was facing a severe shortage of electricity, she
said.

In response, An said that Vietnam imported electricity not because of the
shortage. The country has been buying from China since 2005 via transmission
lines in Lao Cai and Ha Giang provinces and from Laos, mostly hydroelectricity,
following an intergovernmental cooperation agreement in 2019.

The electricity import from Laos was around 7 million kWh per day and 4 million
kWh from China, very modest compared to the daily consumption demand, estimated
at around 445-450 million kWh in the northern region.

An said that the purchase was under cooperation agreements with countries in
the Greater Mekong sub-region, which would enable the connection of the power
grid with other countries in the region. In addition, the electricity master
plan No 8 also set out the target of exporting renewable energy to neighbouring
countries.

Vietnam had 220 kV line linking with Laos and 110 kV with China. Under the
commitments with Laos, Vietnam would import at least 3,000 MW from this country
by 2025 and 5,000 by 2030.

An pointed out that the electricity import from Laos and China increased this
year because of a shortage of supply caused by extreme weather and drought in
the dry season.

The electricity import price was lower than some domestic sources, according to
the ministry.

For example, it was around 6.5 cent or 1,540 VND per kWh from
China and 6.9 cent from Laos. Statistics of Vietnam Electricity (EVN) showed
that the average electricity purchasing price was around 1,845-2,200 VND per
kWh in the first three months of this year, meaning that the prices from Laos
and China were lower than some domestic sources.

Bui Van Thinh, President of the Binh Dinh Wind Power Association, said that
power shortage was mainly in the northern region while renewable energy
projects were concentrated in the central and southern regions, creating
pressure on the North–South 500 kV transmission network.

Buying electricity from China and Laos is reasonable, he said.

Regarding the roadblocks to the connection of more than 4,600 MW of renewable
energy to the national power grid, An said that many projects had not met legal
procedures due to violations of regulations about planning, land and
construction investment.

He said that removing the roadblocks for renewable energy projects was being
hastened based on the harmonisation of all sides’ benefits.

EVN’s statistics showed that there were 52 wind and solar power projects with a
total capacity of 3,155 MW which had applied for negotiations. Of them, 42 with
a total capacity of nearly 2,259 MW completed pricing negotiations with EVN. About
33 projects with a total capacity of 1,581 MW had not applied for negotiations.

The Ministry of Industry and Trade approved temporary prices for
19 projects with a total capacity of 1,347 MW. As of May 26, five projects with
a total capacity of 303 MW were eligible for commercial operation, meaning that
the power system would have an additional supply source of more than 300 MW
from these plants in the next few days./.

Source: https://en.vietnamplus.vn/electricity-imports-from-laos-china-account-for-just-a-small-part-ministry/253748.vnp

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