Vietnam buys electricity from 26 Lao hydropower plants

On January 7, in Hanoi, Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone co-chaired the 46th meeting of the Vietnam-Laos Intergovernmental Committee on Bilateral Cooperation.

Notably, cooperation in electricity trading continues to be promoted, and Vietnam's electricity import from Laos has basically achieved the set target for the 2021-2025 period. Vietnam Electricity Group (EVN) has signed 19 power purchase agreements (PPAs) with investors to purchase electricity from 26 hydropower plants invested in Laos with a total capacity of 2,689 MW. (See more)

Governor: Interest rates will continue to decrease in 2024

At the Conference on Deploying the Banking Sector's Tasks in 2024 held on the morning of January 8, Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong said that by the end of 2023, the banking sector had basically achieved the set targets and goals, contributing to controlling inflation and stabilizing the macro-economy.

The State Bank of Vietnam targets credit growth of 15% in 2024 with interest rates continuing to decrease. The restructuring of weak banks will also be drastically implemented this year. (See more)

EVN quotes price for purchasing new rooftop solar power

EVN has just sent a notice to power corporations, the Electricity Telecommunications and Information Technology Company about the price of purchasing electricity from rooftop solar power systems in 2024. According to Dan Tri, the price of purchasing electricity from rooftop solar power systems in 2024 offered by EVN ranges from 1,999 VND/kWh to 2,231 VND/kWh.

solar power 1065 1359.jpg
EVN has just announced the price for purchasing new rooftop solar power (Photo: EVN)

Every year, based on the central exchange rate of VND against USD announced by the State Bank of Vietnam on the last exchange rate announcement date of the previous year, the Ministry of Industry and Trade will issue the purchase price of solar power for rooftop projects for the following year. The cost of purchasing electricity from solar power projects will be calculated and fully included in the input parameters of EVN's annual electricity price plan.

Proposal to impose 5% value added tax on fertilizer products

In the draft Law on Value Added Tax (amended) that the Ministry of Finance is widely soliciting comments on, the Ministry of Finance proposes to impose a 5% value added tax (VAT) on fertilizers. According to the Ministry of Finance, currently fertilizers are not subject to VAT.

Enterprises and the Fertilizer Association together with the Ministry of Industry and Trade have proposed to change fertilizers to be subject to VAT at a rate of 5%.

Ministry of Industry and Trade revokes petroleum wholesale license of 'big guy' Hai Ha

On January 12, the Ministry of Industry and Trade issued Decision No. 11/2017/QD-TTg on revoking the Certificate of eligibility to act as a petroleum wholesaler for Hai Ha Waterway Transport Company Limited. The Decision takes effect from the date of signing.

On the same day, the Ministry of Industry and Trade sent a document to the Vietnam National Petroleum Group, Vietnam Oil Corporation - Joint Stock Company, and Military Petroleum Corporation Limited Liability Company to ensure the supply of gasoline and oil in Thai Binh, Hai Phong, Hanoi, and Quang Ninh.

The inspection agency has transferred the case to the Ministry of Public Security for consideration and handling according to legal regulations for violations of the law in declaring and paying environmental protection tax on gasoline and oil and the use of the Price Stabilization Fund for the wrong purpose of price stabilization at Hai Ha Petro. (See more)

Northern 'power rescue' hotline: Prime Minister directs, but localities are still slow

The State Steering Committee for important national programs, works and projects, key to the energy sector, has sent a document to the Ministry of Agriculture and Rural Development, People's Committees of related provinces; EVN; National Power Transmission Corporation (EVNNPT) on handling difficulties and obstacles in implementing the 500kV line 3 circuit projects from Quang Trach to Pho Noi.

Many localities have yet to approve the policy of changing the purpose of forest use for planted forests according to regulations, which serves as a basis for implementing compensation and site clearance work. (See more)

Vietnam Shipbuilding Industry Corporation begins bankruptcy

After the Government issued Resolution 220/NQ-CP, which included the task of implementing the bankruptcy process of the Shipbuilding Industry Corporation (SBIC, formerly known as Vinashin), the Ministry of Transport took steps to implement this bankruptcy process.

According to Tien Phong, after bankruptcy, the money collected from liquidating the company and assets will be used according to bankruptcy laws such as paying debts, salaries and social insurance for employees still remaining from the Vinashin era.

Ho Chi Minh City's highest Tet bonus is over 2 billion VND

On the afternoon of January 11, at a regular press conference on the socio-economic situation, Mr. Phung Thai Quang, Vice President of the Ho Chi Minh City Labor Federation, said that through monitoring more than 2,000 enterprises, the Ho Chi Minh City Labor Federation had statistics on salary and bonus plans for Tet.

For foreign-invested enterprises (FDI), the highest bonus is 2.078 billion VND, the lowest is 400,000 VND, the average bonus is 6.5-12 million VND. For domestic enterprises, the highest bonus is 250 million VND, the lowest is 500,000 VND, the average is 7.2-10 million VND.