Construction of expanded Hoa Binh hydropower plant kicks off
Construction of the expanded Hoa Binh hydropower plant began in the northern mountainous province of Hoa Binh on January 10, with Prime Minister Nguyen Xuan Phuc attending the ground-breaking ceremony.
Prime Minister Nguyen Xuan Phuc asks EVN and relevant units to ensure the progress and quality of the project, and minimise its impact on local residents. (Photo: VNA)
Hoa Binh (VNA) – Construction of theexpanded Hoa Binh hydropower plant began in the northern mountainous province ofHoa Binh on January 10, with Prime Minister Nguyen Xuan Phuc attending theground-breaking ceremony.
Work on the 1,920MW Hoa Binh hydropower plant, the largestof its kind in Southeast Asia, started in 1979 and it was put into full operation in 1994.
Over the past decades, the plant has been seen as asymbol of not only the sustainable and good friendship between Vietnam and theformer Soviet Union (now Russia), but also of the domestic electricity sector.
Covering an area of 99.62 hectares in Hoa Binh city,the expanded project is invested by the Vietnam Electricity Group (EVN) with atotal funding of over 9.22 trillion VND (some 398.9 million USD), 30 percent of which is arranged by EVN and the remaining 70 percent comes from commercial loans without agovernment guarantee.
It comprises two turbines with a total capacity of480MW and electricity output of about 488.3 million kWh per year.
The first turbine is scheduled to be put into operationin the third quarter of 2024, and the second will come into service in the lastquarter of the year.
Prime Minister Nguyen Xuan Phuc speaks at the ground-breaking ceremony. (Photo: VNA)
Addressing the ceremony, PM Phuc described hydropower projects onthe Da River as a symbol of national industrialisation and modernisation.
He lauded contributions by the power sector tonational development, saying 99.3 percent of rural households have get access toelectricity, and Vietnam ranks 27th among 199 countries and territoriesin electricity access index.
The expanded project will help to raise the combinedcapacity of the Hoa Binh, Son La and Lai Chau hydropower plants to over 6,000MW,he added.
The government leader asked EVN and relevant units to ensure the progressand quality of the project, and minimise its impact on local residents.
PM Phuc also requested Hoa Binh province to soon completethe land clearance work and ensure security and safety for the project./.
The northern province of Hoa Binh is hoping to receive more than 3.32 million visitors by 2020, generating a revenue of nearly 2.5 trillion VND (118.5 million USD), which they intend to double by 2030, ultimately bringing 11 trillion VND (520.3 million USD) into the province.
The Hoa Binh hydro power plant expansion project is expected to start in the second quarter of 2020 and be completed in 2023, according to Vietnam Electricity (EVN).
The Electricity of Vietnam (EVN) needs total investment capital of 93.2 trillion VND (3.97 billion USD) for power projects this year and it will focus all resources to ensure the progress of such projects, according to the group.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.