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March 26

Released at: 15:47, 26/03/2018 PRESS WATCH

March 26

VET's round-up of news from Vietnamese media for March 26.

T&T and Hitachi Zosen to develop waste-to-power electricity

The T&T Group and the Hitachi Zosen Corporation have signed a memorandum of understanding to develop waste-to-power electricity plants in Hanoi. The two will establish a joint venture to build the first project in Hanoi as well as other projects in the time to come. T&T and Hitachi Zosen will create the design, collect capital, and build and operate the plants, which will generate electricity by incinerating 1,000 tons of waste per day.

Nexen Tech opens Ninh Binh facility

South Korea’s Nexen Tech has established a new facility to improve production capacity to meet customer demand and enhance its competitiveness through the systematic production of specialized parts for hybrid and electric vehicles. A pioneer in automation, Nexen Tech has realized its expansion strategy in Southeast Asia by developing a new facility at the Gia Phu Industrial Complex in northern Ninh Binh province. It signed a memorandum of understanding with the Hoang Dan Investment and Construction Single Member Limited Company on leasing land for the project.

Vietnam still waiting for response over direct US flights

US aviation authorities have remained silent on a request to continue its technical review to see if Vietnam meets requirements to begin long-awaited direct flights between the two countries, a senior Vietnamese aviation official complained. An International Aviation Safety Assessment (IASA) provided by the US Federal Aviation Administration (FAA) is a crucial prerequisite for Vietnam opening non-stop services to the country.

Vietnam busy in gem trade

Vietnam spent $77.82 million on importing gems and precious metals in the first two months of this year, up 4.5 per cent year-on-year, with India, the EU and South Korea being the biggest providers. It also raked in $78.5 million from exporting gems and precious metals in the same period, according to customs data.

Major project for Vung Ang EZ

The construction of a VND170.8 billion ($7.5 million) factory manufacturing mechanical products, machinery, and spare parts began at the Phu Vinh Industrial Park inside the Vung Ang Economic Zone in the north-central province of Ha Tinh on March 23. Covering 25,880 sq m, the factory is designed to produce 1,800 steel mills and rollers each year, along with 100 conveyer belt rollers, 500 tons of wear-resistant plates, and 800 tons of mechanic products per year. The factory will cooperate with Formosa Ha Tinh to create a production chain in the steel industry.

Mechanical engineering strategy approved

Vietnam’s mechanical engineering industry is striving to apply advanced technology, produce high-quality products meeting international standards, and join the global value chain by 2035. The targets were set out in a strategy approved by the Prime Minister for the industry’s development by 2025, with a vision to 2035. The industry will also focus on the efficient use of energy, maintaining competitiveness during international integration and establishing a disciplined, professional and qualified workforce that is proactive in conducting research, designing products and manufacturing.

Few women in senior positions

Vietnam has the lowest ratio of women in senior management among Southeast Asia’s five largest economies, according to a Financial Times survey that looked into the region’s gender equality in the workplace. The gender pay gap varies across the region, and while Indonesia is doing well, Malaysia and Vietnam are falling behind, the survey found. Vietnam has the lowest female-to-male ratio in senior management, with one woman for every eight men, compared with 5.6 men in Malaysia, 2.8 in the Philippines and 2.2 in Thailand.

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