1.Over 80% of German business intend to expand production in Vietnam
HCMC – Up to 83% of German companies in Vietnam said they would continue expanding production in the next 12 months, according to the AHK World Business Outlook 2021 recently released by the Delegate of German Commerce and Industry in Vietnam.
Travel restrictions and problems with supply chains and logistics were major challenges hindering the growth of German companies. Cancelled orders and declining demand have also severely affected their investment and expansion plans. Besides, German firms are facing a shortage of skilled labour, with up to 42% of them saying they are having difficulty employing high-quality personnel.
Other issues regarding economic policy, financial approach, legal safety and infrastructure, in addition to border closures and the cancellation of exhibitions and trade events due to Covid-19, have also significantly affected their operations.
(Source: The Saigon Times)
2. Over 150 projects seek foreign investment in 2021-2025
HANOI – Vietnam is calling for foreign investment in 157 projects during the 2021-2025 period. These projects are in various fields such as transport infrastructure, industrial and economic zone facilities, education and health infrastructure, information technology infrastructure, waste and sewage treatment, production and services.
Regarding transport infrastructure, the country wants to attract foreign investment in the metro line No. 4 project, the Hon Khoai general port and the Trang Bom-Hoa Hung rail route.
Foreign investment is also being sought for the development of industrial zone facilities in northern Ben Luc District of Long An Province, the Ninh Co Economic Zone and the Hoa Ninh Industrial Park, among others.
As for education and health infrastructure, there will be projects to build the International University under the Vietnam National University-Hanoi and upgrade the Tuyen Quang Provincial General Hospital and some district-level medical centers in this northern province.
The deputy PM tasked the Ministry of Planning and Investment with guiding and monitoring the execution of the decision.
(Source: The Saigon Times)
3. PV Power proposes withdrawing from Ca Na LNC-fired power project
HCMC – PetroVietnam Power Corporation has proposed withdrawing from the tender for the first phase of the Ca Na liquefied natural gas (LNG)-fired power project in Ninh Thuan Province. The Ninh Thuan government had earlier announced holding an international competitive tender to choose an investor for the project.
The tender attracted some investors, such as a Korean consortium comprising Hanwha Energy Corporation, Korea Gas Corporation, and Korea Southern Power Co., Ltd; Gulf MP Company Limited; Jera Company Inc; a consortium of Total Gaz Electricite Holding France, Novatek Gas & Power Asia Pte, PV Power, Siemens Energy AG and Zarubezhneft JSC; and the Trung Nam Construction Investment Corporation.
The project was planned to have a total capacity of 6,000 megawatts. The first phase alone will have a capacity of 1,500 megawatts and need an estimated investment of some VND49 trillion.
PV Power is currently managing the most LNG-fired power plants in the country with four facilities—Nhon Trach 1 and 2 and Ca Mau 1 and 2—with a total capacity of 2,700 megawatts.
(Source: The Saigon Times)