Vietnam, Saudi Arabia firms partner to develop renewable energy
FECON Corporation and ACWA Power, a Saudi Arabian company, signed on July 3 a memorandum of understanding (MoU) on cooperation to develop renewable energy projects in Vietnam.
Hanoi (VNA) – FECON Corporation and ACWA Power, aSaudi Arabian company, signed on July 3 a memorandum of understanding (MoU) oncooperation to develop renewable energy projects in Vietnam.
A FECON representative said Vietnam is the firstSoutheast Asian nation that ACWA Power chooses to invest in renewable energyprojects.
Under this MoU, the two sides will study andevaluate opportunities in and potential for renewable energy investment,especially wind and solar power projects, in some southern central provincessuch as Binh Thuan and Ninh Thuan. After that, they will set up a joint ventureto make investment.
The partnership with ACWA Power is part of theVietnamese firm’s road map to become a leading infrastructure business by 2020,according to the FECON representative.
ACWA Power is a developer, investor, operatorand co-owner of electricity plants in 12 countries in the Middle East, NorthAfrica, South Africa and Southeast Asia.
In Vietnam, it formed a joint venture with theRepublic of Korea’s Taekwang Group to invest 2.3 billion USD in a thermal powerfactory in Nam Dinh province.
According to Vietnam’s national electricitydevelopment plan and renewable energy development strategy, the country aims toraise the rate of electricity produced by renewable energy sources, excludingbig and medium hydropower and pumped storage hydropower, to 7 percent by 2020and over 10 percent by 2030, with a focus on wind and solar power.
The country is also offering a number ofincentives for investors in this field.-VNA
Vietnam has favourable conditions to develop solar energy across the country, but it needs an economical, technically feasible net-metering scheme to promote solar PV rooftops in the country, experts said.
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The Ministry of Industry and Trade and the EU Delegation to Vietnam held a ceremony to present the Vietnam Energy Partnership Group (VEPG) in Hanoi on June 21.
A 100MW solar power plant worth 100 million USD will be built in the Mekong Delta province of Long An under the cooperation between BCG Bang Duong Joint Venture and Hanwha Group of the Republic of Korea (RoK).
Vietnam plans to develop a low-carbon economy and include climate-change resistance work in its updated Nationally Determined Contribution (NDC) for the Paris climate accords.
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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.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
Wind power turbines (Photo: VNA) 
