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Tag Archive for ‘Fuel’

Binh Duong calls for investment in less labour-intensive industries

The southern province of Binh Duong will focus on attracting investment in hi-tech, less labour-intensive and environmentally friendly industries in the time ahead. Chairman of the provincial People’s Committee Tran Thanh Liem made the remark while meeting with CEO of the Republic of Korea (RoK)’s Sae-A group James Ha on September 5. Liem noted his […]

Vietnam promotes renewal energy development

As fossil fuels run out, the use of renewable energy is necessary for Vietnam’s development orientation and energy security. Vietnam is considered a country with a great potential for renewable energy. Vietnam has a great potential for wind, solar, and biomass energy. A recent survey shows that Vietnam’s total wind power potential is between 7,000 […]

PetroVietnam to begin large-scale divestment

Vietnam National Oil and Gas Group (PetroVietnam) will complete the divestment from several subsidiaries by 2020, according to newswire Petrotimes. Accordingly, PetroVietnam is permitted to retain its entire holdings in only three subsidiaries, namely the parent company PetroVietnam, National Southern Spill Response Centre (Nasos), and PetroVietnam Manpower Training College. PetroVietnam will have to divest part […]

Vietnam finance ministry drafts auto part tax cuts

The Ministry of Finance plans to cut import taxes on auto parts, in line with the World Trade Organisation (WTO)’s rules. finance ministry drafts auto part tax cuts hinh 0 Its WTO commitments require Vietnam to maintain a tax level on import auto components between zero percent and 30 percent. Officials say the tax changes […]

Technology to turn Vietnamese cashew-nut shells into “gold”

Cardanol is a natural phenol obtained from anacardic acid, the main element of cashew nut shell oil. The oil is highly effective against metal corrosion and is used in many industries. Cashew nuts are one of Vietnam’s important industrial crops. According to the 2013 statistical yearbook, the total output of cashew in Vietnam reached 289,900 […]

Natural Gas Jumps to One-Year High on Stockpile Speculation

Natural gas futures rose to a one- year high in New York on speculation that U.S. inventories will drop for the first time this season as below-normal temperatures spur fuel demand. Gas rose 4.7 percent, the most in six weeks, as a government report on Nov. 15 may show that stockpiles fell 15 billion cubic […]

Oil Drops for Second Day as IEA Lowers Demand Forecast

Oil dropped for a second day as the International Energy Agency cut its demand estimate and U.S. inventories were expected to reach a three-month high. Prices fell 0.2 percent after the IEA lowered its forecast for the fourth quarter for a second time, citing weakness in Europe’s economy and disruption to U.S. fuel delivery by […]

Vietnam Luxury Product Companies Optimistic Amid Low Sales

A street vendor walks past a Chanel store at the Rex Hotel in downtown Ho Chi Minh City Luxury product companies are expanding even as sales contract amid the economic slump, with economists citing the potential of Vietnam’s large young population and the newly rich to fuel more consumption. Notices offering discounts of up to 50 percent on all items can be seen at most shops at Vincom Tower, Parkson or Grand Plaza in Hanoi, where Italian shoes and French perfumes are sold to the urban middle and upper classes. But the stores are vacant save for a few sales people…

Exports show their best face to Vietnam

A sharp hike in Korean cosmetics and food exports to Vietnam in recent years has prompted the need for firms from the two countries to step up bilateral investment and trade. Within many activities to celebrate 20 years of diplomatic ties between Vietnam and Korea (December 1992-December 2012), Korea Trade-Investment Promotion Agency (Kotra) hosted Hallyu Korean Wave Products Show from November 6-7, 2012 at Keangnam Garden west of Hanoi. It showcased several dozen booths with more than 40 Korean businesses whose products are favoured by Vietnamese consumers in electronics, household appliances, cosmetics and food. The opportunities for new emerging Asian markets to fuel…

Vietnam to modify fuel trading mechanism

The Government will modify Decree 84 on petrol and oil trading mechanism in this December to ensure market factors in oil trading because many provisions are now outdated, said Deputy Prime Minister Nguyen Xuan Phuc. At present, under normal conditions, fuel wholesalers can adjust retail prices within the prescribed scope and sequence, Phuc told the […]