tag:blogger.com,1999:blog-165286005174601902024-03-13T14:45:17.343+07:00INVESTUBAll around investment destinations in Vietnam ...Unknownnoreply@blogger.comBlogger44125tag:blogger.com,1999:blog-16528600517460190.post-71019630888028296822023-06-25T00:40:00.001+07:002023-06-25T00:40:12.666+07:00Vietnam’s 90-day E-Visas to be Applied Since 15th Aug 2023<h1>Vietnam National Assembly approved on June 24 2023 a bill revising the regulations on the entry, exit, transit and residence of foreigners in Vietnam. Accordingly, the duration of an electronic visa (e-visa) will be increased to 90 days, with unlimited multiple entrances.</h1><div><br></div><div><br></div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEh_JbvS7R1KVJgxxZzMcv_ti6cstS3u0G17z-pphW15aZBOl3VmDppUikIPhRpzcXk7UjRNSIAtrhDaoVv8ueLK2SWZWB1Ouk99nThAmRjnrdxzOEio1b2raPG3GEEfhARn0CX2dYZEh9fQvXTK5JAh8yrzSRQevjgN1BOuLNHim8HVMdI8U6vrMgykwao" style="margin-left: auto; margin-right: auto;"><img data-original-height="780" data-original-width="1040" height="480" src="https://blogger.googleusercontent.com/img/a/AVvXsEh_JbvS7R1KVJgxxZzMcv_ti6cstS3u0G17z-pphW15aZBOl3VmDppUikIPhRpzcXk7UjRNSIAtrhDaoVv8ueLK2SWZWB1Ouk99nThAmRjnrdxzOEio1b2raPG3GEEfhARn0CX2dYZEh9fQvXTK5JAh8yrzSRQevjgN1BOuLNHim8HVMdI8U6vrMgykwao=w640-h480" width="640"></a></td></tr><tr><td class="tr-caption" style="text-align: center;">My Son Sanctuary - A World Heritage Located in Quang Nam Province, Central Vietnam</td></tr></tbody></table><br><br><div style="text-align: center;"><br></div><div><br></div><span></span><a href="https://invest.gscorp.xyz/2023/06/vietnams-90-day-e-visas-to-be-applied.html#more">Read more »</a>Justin Tanhttp://www.blogger.com/profile/08413172726455677447noreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-87277324045847256512023-06-05T08:50:00.002+07:002023-06-05T12:43:58.553+07:00Vietnam: “Online Visa of 3 months” Draft Law Proposed to the National Assembly for Approval<h1 style="text-align: left;">HANOI - Minister of Public Security To Lam presented the revision draft of the Law on Immigration of Foreigners in Vietnam to the National Assembly on 2nd June 2023 at its ongoing congress. If passed, the max duration of online visa granted to foreigners shall be increased to 03 months; and duration of temporary residence for foreigners entitled to unilateral visa exemption shall be increased to 45 days.</h1><div><br></div><div><br></div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiO-1tyQVDiz9J4Obmv4lvKIavBZGGmYlnIdXC_qIV0c5-2KV5gcArzPp9M8fzHrDLsSod-XCyTk6sPsS_ZplFIEhk_u5Ra5Mko6ow61ec8ghwlItLEqaGhXVtj1d8_qi6ZIprwZaZIre6XdhY2T-LAF4EZUjCOvbTI42Re_36Hiu0RP0-wmzNFfUCf/s1152/E-Visa%20and%20Temporary%20Residence%20Card.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" data-original-height="576" data-original-width="1152" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiO-1tyQVDiz9J4Obmv4lvKIavBZGGmYlnIdXC_qIV0c5-2KV5gcArzPp9M8fzHrDLsSod-XCyTk6sPsS_ZplFIEhk_u5Ra5Mko6ow61ec8ghwlItLEqaGhXVtj1d8_qi6ZIprwZaZIre6XdhY2T-LAF4EZUjCOvbTI42Re_36Hiu0RP0-wmzNFfUCf/w640-h320/E-Visa%20and%20Temporary%20Residence%20Card.jpg" width="640"></a><br><div style="text-align: center;"><br></div><div><br></div><span></span><a href="https://invest.gscorp.xyz/2023/06/vietnam-online-visa-of-3-months-draft.html#more">Read more »</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-78664013273811744422022-03-15T22:56:00.005+07:002022-03-15T23:07:03.359+07:00Vietnam to Exempt Visa for Citizens from 13 Countries Since 15th Mar 2022<h1>The Vietnam Government issued a resolution on visa exemption for citizens of the 13 countries including Germany, France, Italy, Spain, Great Britain and Northern Ireland, Russia, Japan, South Korea, Denmark, Sweden, Norway, Finland and Belarus, effective from March 15th 2022.</h1><div><br></div><div><br></div><div><br></div><img border="0" src="https://blogger.googleusercontent.com/img/a/AVvXsEhWd4fEXMrz7rRsfivbScFn7ktLZOH5c4gPeHdFX1NC4bhrUdUyZgSq6hGbMSsPnJ3ymC21L86ebJwCCW_ua-RcHSiWo0eDUAuMDXfATHkBGYXrjkIeeHCLgykD2s0zvgeGO_gtzKe5xc1kiJfrpgO4wUf1gclqqudg9911EzQZ5etpUnhn3fLc619q=w640-h320"><br><div style="text-align: center;"><br></div><div><br></div><span></span><a href="https://invest.gscorp.xyz/2022/03/vietnam-to-exempt-visa-for-citizens.html#more">Read more »</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-5480776079443670422022-02-21T22:13:00.002+07:002022-02-22T16:34:05.829+07:00Vietnam: Binh Son Refining and Petrochemical (BSR) earns profit after tax of 292 million USD in 2021<div><h1>At the end of 2021, BSR who operates the Dung Quat Oil Refinery located in Central Vietnam reported a profit after tax of VND 6,673 billion (~292 million USD) vs a loss of VND 2,858 billion billion (~125 million USD) in the same period last year.</h1><div><br></div><div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><img border="0" src="https://blogger.googleusercontent.com/img/a/AVvXsEgoYmDaSuoEnHnNTk1PqEJb0a2A5fVegYjSpPw8Wq84WGEg8Jvs7mxTJKYljzjknmlcTo4TIDJ2ibDVx7OZKJPBoKQKIM_C1n3XbTEEakQCqdZrR34Nm1tkmTlRE2Edbhrvuh-jhfxo_WJTNCaeJs6zHggxZmEvEsd1uZBvxbyHOeD2TSiClrQhLwO3=w640-h320" style="margin-left: auto; margin-right: auto;"></td></tr><tr><td class="tr-caption" style="text-align: center;">Dung Quat Oil Refinery</td></tr></tbody></table><br></div><br><div><br><br></div><br><h3 style="font-size: medium; text-align: center;"><br></h3></div><div><div style="text-align: center;"><span style="color: #ff3300; font-family: Alfa Slab One;"><span></span></span></div></div><a href="https://invest.gscorp.xyz/2022/02/vietnam-binh-son-refining-and.html#more">Read more »</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-17555849221935062712022-02-21T19:17:00.005+07:002022-02-22T16:33:41.063+07:00Vietnam: Biggest Oil Refinery Cuts Down Production, Local Market Suffers Fuel Shortage<div><h1>Commencing production in 2018, Vietnam’s biggest refinery Nghi Son has suffered an accumulated loss of 61,200 billion VND (~ 2,683 million USD) in its first 3 years of operation. In lack of money to import crude oil, the refinery announced in Jan 2022 to cut down its production capacity to 80% from the peak of 105%.</h1><div><br></div><div><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/a/AVvXsEitZnHbKg9IAVB0Kll0PRoR5tOMccXH96MDrI0LZ_ILFpiBGO3vHOHq5GQf06zOt3Av212J2utNdrZ7K6gP8i9yuX2znZ_-gYrU87cu8gGFJW1uuG57nka9JKhX-SjAiTPSNcREiSH-ZLyeINVYVzSblor1x6cDfe7tkiKkAFwRlT1D9akw1F-CYaHm=w640-h320" style="margin-left: auto; margin-right: auto;" width="640"></td></tr><tr><td class="tr-caption" style="text-align: center;"><h3>Nghi Son Oil Refinery and Petrochemical </h3></td></tr></tbody></table><br></div><br><h3 style="font-size: medium; text-align: center;"><br></h3></div><div><div style="text-align: center;"><span style="color: #ff3300; font-family: Alfa Slab One;"><span></span></span></div></div><a href="https://invest.gscorp.xyz/2022/02/vietnam-biggest-oil-refinery-cuts-down.html#more">Read more »</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-375121611604255752022-02-17T21:18:00.008+07:002022-02-21T19:26:19.998+07:00 Vietnam: All international regular routes to be resumed as before the epidemic<h1 style="text-align: left;">In order to prepare for the reopening of tourism for international visitors before March 31 under the direction of the Government, the Civil Aviation Administration of Vietnam decided to lift the restriction on operating frequency applied on international routes. Accordingly, all flights to and from Vietnam shall be soon back to normal as before the Covid-19 pandemic.</h1><div><br></div><div><br></div><div style="text-align: center;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/a/AVvXsEhSvCGoFk5ANK8JOKxeUU1G27qJDG9koBH8j3nLXGeOclC6xlqmDV1kvqKCzhA3L6Cp5zDyea3UNO_oqUcCvtIvPpcRjKj5Ce8oH_GdiI3KXHr7P7tLLMB1dAOnadp0-5XPQs4j4fI3GI4-3OtPyuw8uy1zHYSIomSG7KtEjIXVIFpDsVVCxBJ-f1f_=w640-h320" width="640"></div><div><br></div><p><br></p><span></span><a href="https://invest.gscorp.xyz/2022/02/vietnam-all-international-regular.html#more">Read more »</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-11325690332822818692021-01-13T10:42:00.007+07:002022-02-17T21:43:51.206+07:00The changes in Vietnam's regulations on Work Permit for foreign labours<h2 style="text-align: left;"><span style="font-size: medium;">Foreign labours working in Vietnam are increasing rapidly, from 12,602 people in 2004 to nearly 84,000 in 2019. The regulations of the country on Work Permit (WP) have been changed over time to both simplize the procedures and tackle the "illegal" working in Vietnam by some foreigners. This article shall illustrate on how the regulations on WP have been modified from 2013 to 2020.</span></h2><p><span style="font-size: medium;"><br></span></p><p></p><div class="separator" style="clear: both; text-align: center;"><img border="0" data-original-height="672" data-original-width="1152" height="234" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiVPts7RXN28Lf2iLfHs0Ame55OTew8kQaz4yySGyn5wX9zpqfA-YsAVtFYi2txOljl7Lke4BFdyVqC-nHm1AbC37oUk8J0IOd-DisQPuN5-VqouDKz1AYuu1p_o9ubZxmb9YB5KubZ1QU/w400-h234/Work+Permit+in+Vietnam+Changes.png" width="400"></div><span style="font-size: medium;"><br></span><p></p><p><span style="font-size: medium;"><br></span></p><p><span></span></p><a href="https://invest.gscorp.xyz/2021/01/the-changes-in-vietnams-regulations-on.html#more">Read more »</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-80576313139588639322016-06-30T22:57:00.001+07:002021-01-13T08:31:13.462+07:00The cause of mass fish deaths in Central Vietnam: what mistrust is being built?<div class="MsoNormal">
<a href="http://www.reuters.com/article/us-vietnam-environment-idUSKCN0ZG1F5" target="_blank"><span style="font-size: medium;">Vietnam says Formosa unit's steel plant caused environmental
disaster</span></a></div>
<div class="MsoNormal"><span style="font-size: medium;">
In an international press conference hold by the Government
Office of Vietnam on 30<sup>th</sup> June 2016, the government representatives
announced that Hung Nghiep Formosa Ha Tinh Steel Co. Ltd (“FHS”) running a 10.6 USD steel complex in North
Central Vietnm admitted their charges in the mass fish deaths across the four
central coastal provinces of Vietnam. </span></div>
<div class="MsoNormal">
<span style="font-size: medium;"><br></span></div>
<div class="MsoNormal"><span style="font-size: medium;">
Such an announcement was proven by <a href="http://vnexpress.net/tin-tuc/thoi-su/bo-truong-tran-hong-ha-toi-vua-trai-qua-84-ngay-cang-thang-nang-triu-3428300.html?utm_source=detail&utm_medium=box_topic&utm_campaign=boxtracking">a
brief video</a> shown at the conference, in which <a href="http://www.vir.com.vn/formosa-claims-responsibility-for-environmental-breakdown-in-central-coast.html">President
of the FHS said that</a> “<i>the test runs as well as test results from
the research and analysis of the inter-disciplinary inspection team under the
direction of the Ministry of Natural Resources and Environment which includes
Vietnamese and international scientists have all come to conclusion that
incidents within the operation of our factory have caused the environmental
incident that led to the recent mass deaths of fish off the coast of Viet Nam’s
four central provinces.</i>”<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: medium;"><br></span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifbeFGN_nuhKf_Km1p6NRV1EnweuxmuqgI3mZT0lpPS6qYFkxxP8lE81Zs13I4JRGsF1j4VhlpcFrR2W5LS-gYTGUQzdDLy67Ng34bRJMWWYLduVjjI_11fnoZtDauQMK5rZxoiDGaj5U/s1600/Formosa+Ha+Tinh+Representative+Offer+Apology+for+Fish+Death+Disaster+in+Vietnam.jpg" style="margin-left: auto; margin-right: auto;"><span style="font-size: medium;"><img border="0" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEifbeFGN_nuhKf_Km1p6NRV1EnweuxmuqgI3mZT0lpPS6qYFkxxP8lE81Zs13I4JRGsF1j4VhlpcFrR2W5LS-gYTGUQzdDLy67Ng34bRJMWWYLduVjjI_11fnoZtDauQMK5rZxoiDGaj5U/s400/Formosa+Ha+Tinh+Representative+Offer+Apology+for+Fish+Death+Disaster+in+Vietnam.jpg" width="400"></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-size: medium;">Formosa Ha Tinh representatives offer apology for the toxic fish death incident in Vietnam. Source VNExpress<br><br><br></span><span></span></td></tr></tbody></table><a href="https://invest.gscorp.xyz/2016/06/the-cause-of-mass-fish-deaths-in.html#more">Read more »</a>Unknownnoreply@blogger.com8tag:blogger.com,1999:blog-16528600517460190.post-46293132740582687612015-09-03T17:43:00.001+07:002021-01-13T08:31:35.778+07:00Dung Quat refinery’s expansion project: Amec Foster Wheeler wins FEED contract <span style="font-size: medium;"><span style="font-family: Calibri;"><span>Front-End Engineering Design (FEED) Contract worth of USD 25.6
million was inked on 28<sup>th</sup> August 2015 <span style="mso-spacerun: yes;"> </span>between representatives of<span style="mso-spacerun: yes;"> </span>Binh Son Oil Refinery and Petrochemical
Company (BSR - the operator of Dungquat refinery<span style="mso-spacerun: yes;"> </span>- a subsidiary of Vietnam Oil and Gas Group)
and <span style="mso-spacerun: yes;"> </span>English-based Amec Foster Wheeler
Energy Company Limited <span style="mso-spacerun: yes;"> </span>for the upgrade
and expansion of Dung Quat oil refinery based in Quang Ngai Province. </span></span></span><div><span style="font-size: medium;"><span style="font-family: Calibri;"><br></span></span></div><div><span style="font-size: medium;"><span style="font-family: Calibri;"><span><o:p></o:p></span></span><span></span></span></div><a href="https://invest.gscorp.xyz/2015/09/dung-quat-refinerys-expansion-project.html#more">Read more »</a>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-16528600517460190.post-46022463750947241762015-05-12T02:21:00.002+07:002021-01-13T08:31:53.560+07:00Vietnam intends to closely supervise FDI projects’ progress<div class="MsoNormal">
<span face="Trebuchet MS, sans-serif" style="font-size: medium;"><a href="http://www.mpi.gov.vn/Pages/tinbai.aspx?idTin=26735&idcm=140"><span>A draft
version for a new decree</span></a><span> intended to replace the current Decree on
supervising and evaluating investment (No. 113/2009/ND-CP) has been publicized
by Vietnam Ministry of Planning and Investment to obtain public opinions. What’s
new in the draft? The intended new decree shall not only govern state-owned
investment as previously but also cover the FDI and PPP sectors also. If
approved and passed, the new decree would be an import legal instrument that
foreign investors in Vietnam shall have to pay attention to.</span></span></div><div class="MsoNormal"><span face="Trebuchet MS, sans-serif" style="font-size: medium;"><span><br></span></span></div><div class="MsoNormal"><span face="Trebuchet MS, sans-serif" style="font-size: medium;"><span></span></span></div><a href="https://invest.gscorp.xyz/2015/05/vietnam-intends-to-closely-supervise.html#more">Read more »</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-60255494760330729722015-04-27T11:49:00.001+07:002021-01-13T08:35:48.492+07:00Dung Quat Refinery: the ball of oil rolls on the field of tax and tariffs<div style="margin: 0in 0in 10pt;"><span style="font-family: Calibri; font-size: medium;">Vietnam Ministry of Finance has promulgate Circular No.
48/2015/TT-BTC to reduce the MFN import tariffs on some petroleum products,
releasing the high-raised concerns by Binh Son Oil Refinery and Petroleum
Company (BSR) over the possible profit loss and even business closure facing
the Dungquat refinery.</span></div><span></span><a href="https://invest.gscorp.xyz/2015/04/the-ball-of-oil-rolls-on-field-of-tax.html#more">Read more »</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-29157423653766593832015-02-10T11:00:00.001+07:002021-01-13T08:32:12.037+07:00What's new in Vietnam's Law on Enterprises 2014<div class="MsoNormal">
<span style="font-size: large;">The new Law on Enterprises (2014) was passed by the National
Assembly in November 2014 and shall be effective as of 1<sup>st</sup> July
2015. New and existing foreign investors in Vietnam may be curious to have a
look at what’s new in the Law and how the regulatory changes shall affect their
business operations in Vietnam. A news article from VCCI has noted major legal
updates to come into effect in the next few months.</span></div><div class="MsoNormal"><span style="font-size: large;"><br></span></div>
<div class="MsoNormal">
<span style="font-size: large;">The new law is said to provide just a general frame
governing the operations of enterprises; meanwhile it seems to let enterprises
to decide many details of how to organize themselves and operate accordingly. </span><br>
<span style="font-size: large;"><br></span>
<div class="separator" style="clear: both; text-align: center;">
<span style="font-size: large; margin-left: 1em; margin-right: 1em;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgJhjhx2krZLwSSsTrefNXAk-Nz7andp1tBzzHc_g2jAdIKp-3vDf44U9PnOl65n43cGr3P8IeJxeJ_s3w1C93lh0IzxWnHxg_YK9D0bUmNWHu945fpY60Yzz2s0mu_yfV_7bCgoJJrjd4/s1600/Law+on+Enterprises+2014+Icon.bmp" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="328" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgJhjhx2krZLwSSsTrefNXAk-Nz7andp1tBzzHc_g2jAdIKp-3vDf44U9PnOl65n43cGr3P8IeJxeJ_s3w1C93lh0IzxWnHxg_YK9D0bUmNWHu945fpY60Yzz2s0mu_yfV_7bCgoJJrjd4/s1600/Law+on+Enterprises+2014+Icon.bmp" width="400"></a></span></div><div class="separator" style="clear: both; text-align: center;"><br></div><span></span></div><a href="https://invest.gscorp.xyz/2015/02/whats-new-in-vietnams-law-on.html#more">Read more »</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-23210492273388466622015-02-10T09:51:00.002+07:002021-01-13T08:32:30.678+07:00[VNA] Falling oil price and impacts on Vietnam’s economy<div class="MsoNormal"><span style="font-size: large;">The sharp decrease in world oil price
over the past three months is expected to affect Vietnam’s oil export earnings
as well as a wide range of socio-economic aspects.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: large;"><o:p> </o:p> </span></div>
<div class="MsoNormal">
<span style="font-size: large;">As the budget revenue estimate for 2015 was calculated based
on the oil price of around 100 USD per barrel, the Government recently had to
convene a meeting to discuss ways to respond to this trend.</span></div>
<div class="MsoNormal">
<span style="font-size: large;"><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: large;">The meeting agreed that with the low world price, it is
inevitable that the country would have to reduce output and even suspend
production at some wells where pumping cost is high.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-size: large;"><br></span></div><div class="MsoNormal"><span></span></div><a href="https://invest.gscorp.xyz/2015/02/vna-falling-oil-price-and-impacts-on.html#more">Read more »</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-88820668493633299232015-01-23T16:13:00.001+07:002021-01-13T08:36:35.369+07:00Dung Quat Refinery expansion plan fixed at 8.5 mln tons of crude and investment of USD 1.82 billion<div class="MsoNormal">
<span style="font-size: medium;">After much study and calibration, the ambitious plan to
expand and upgrade the Dung Quat oil refinery based in Dung Quat Economic Zone
of central coastal Quang Ngai province has been eventually fixed and ratified
by an Investment Certificate issued by the local government. The target
capacity is announced to be 8.5 million tons of crude per year (192,000 barrels
per day), lower than the figure of 10
million tons as tentatively publicized previously. The total cost for this plan
is said to be roughly 1.81 billion USD, 30% of which shall be contributed by
the involved partner(s) and the remaining 70% shall comes from loans, according
to <span class="MsoHyperlink"><a href="http://www.bsr.com.vn/new/579_le-cong-bo-du-an-dau-tu-nang-cap-mo-rong-nlmd-dung.aspx">a
news article from PVN</a>/BSR</span>.</span></div>
<div class="MsoNormal">
<span style="font-size: medium;"><br></span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjL0_evx8GU-Kt5CWUnRLp9CmNtdXRT9QOstFd8vCGOBdxlKZD9Rg-DOdHUfNaCJ8ZAiadKxu2uvASH-u3g-Iz_POo1fKhxj9_Nzuq69DNFbi8aFEomDD3h9ajvL0wCdoMHuBbCqas6KN4/s1600/Dungquat+refinery+expansion+annoucement+cere.jpg" style="margin-left: auto; margin-right: auto;"><span style="font-size: medium;"><img border="0" height="261" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjL0_evx8GU-Kt5CWUnRLp9CmNtdXRT9QOstFd8vCGOBdxlKZD9Rg-DOdHUfNaCJ8ZAiadKxu2uvASH-u3g-Iz_POo1fKhxj9_Nzuq69DNFbi8aFEomDD3h9ajvL0wCdoMHuBbCqas6KN4/s1600/Dungquat+refinery+expansion+annoucement+cere.jpg" width="400"></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-size: medium;">A ceremony was organized on 23rd Jan 2015 at Dungquat EZ to officially announce the expansion project.</span></td></tr>
</tbody></table>
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<span style="font-size: medium;"><br></span></div>
<div class="MsoNormal"><span></span></div><a href="https://invest.gscorp.xyz/2015/01/dung-quat-refinery-expansion-plan-fixed.html#more">Read more »</a>Unknownnoreply@blogger.com1Dung Quat Oil Refinery, Dung Quat EZ, Quang Ngai Province, Vietnam15.350162232390629 108.8299655914306615.346334232390628 108.82492309143066 15.353990232390629 108.83500809143067tag:blogger.com,1999:blog-16528600517460190.post-14875032203662753782014-11-06T08:13:00.001+07:002021-01-13T08:37:28.501+07:00Dungquat’s refinery upgrade and expansion plan estimated to cost $2 billion<span style="font-size: medium;">PetroVietnam Deputy General Director Le Manh Hung
acknowledged during <a href="http://pvn.vn/?portal=news&page=detail&category_id=55&id=7267">a
recent meeting</a> with the Authority of Quang Ngai, where the Dungquat
refinery is located, that the plan to upgrade and expand this refinery shall be
kicked off in Q.1 2015, clear site should be available in Q2 2016, and
construction will commence in Q.3 2017 and expectedly complete in 2021.<br>
</span><div class="MsoNormal">
<span style="font-size: medium;"><br></span></div>
<div class="MsoNormal"><span style="font-size: medium;">
The upgrade and expansion plan is estimated to cost between
1.8 to 2 billion USD and shall raise the refinery’s annual capacity from the
current 6.5 million tons of crude oil to 10 million tons.</span></div>
<div class="MsoNormal">
<span style="font-size: medium;"><br></span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjawIavSAwx5drQioEfJFcL6xvrGeOc08a2iA2GAtr4OVaaSWBeS75Ba0s6hkwX3ygGEpFBZFhobIo4VAWV9IcnlfEQC7Ph1qG2zVCiheKuqz3Qfyc03b0oHkyK-Rh7F0-4x5_Gf94UvZE/s1600/Dungquat+Refinery+-+the+surroundings.gif" style="margin-left: auto; margin-right: auto;"><span style="font-size: medium;"><img border="0" height="265" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjawIavSAwx5drQioEfJFcL6xvrGeOc08a2iA2GAtr4OVaaSWBeS75Ba0s6hkwX3ygGEpFBZFhobIo4VAWV9IcnlfEQC7Ph1qG2zVCiheKuqz3Qfyc03b0oHkyK-Rh7F0-4x5_Gf94UvZE/s1600/Dungquat+Refinery+-+the+surroundings.gif" width="400"></span></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><i><span style="font-size: medium;">Surroundings of the current refinery</span></i></td></tr>
</tbody></table>
<div class="MsoNormal"><span></span></div><a href="https://invest.gscorp.xyz/2014/11/dungquats-refinery-upgrade-and.html#more">Read more »</a>Unknownnoreply@blogger.com3Bình Trị, Binh Son District, Quang Ngai, Vietnam15.350582506482759 108.8301900801757315.319958006482759 108.78984958017573 15.381207006482759 108.87053058017572tag:blogger.com,1999:blog-16528600517460190.post-16350790188740959622014-09-19T11:27:00.000+07:002015-01-28T02:54:05.987+07:00JFE discontinues plan for steelworks in Vietnam<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;"><a href="http://www.jfe-steel.co.jp/en/release/2014/140916.html">In a press release made on its website</a>, JFE
has officially announced its decision to quit involvement in the Guang Lian
Steel project located in Dung Quat Economic Zone, Quang Ngai province, leaving
E-United Group alone with the project. </span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;">The press release did not reveal the reasons for JFE Steel’s
discontinuing the participation in the project; however, insiders tend to link
this leaving decision to the fact of unapproved investment incentives and the fierce
competitions from giant steel mills under construction in Vietnam and in the
region. The situation raises the
questions over whether E-United Group would go on with the project and how it
would arrange the finance to feed this big steelwork.</span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;"><a href="http://baodautu.vn/dai-gia-nhat-xin-rut-khoi-du-an-thep-3-ty-usd-quang-lien.html">Source
from Dungquat Economic Zone Authority</a> was quoted as saying that if the
investor wants to move on, it has to pledge to follow a clear construction road
map otherwise the province would consider revoke the investment certificate, recover the allocated land,
and pay back to the investor what it has spent legitimately.</span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;">In a report by local authority addressed to the government
late 2012, the disbursed investment capital of the project was said to be valued
at around $ 50 million then as declared by the investor.</span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<br />
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;">While the 9.9 billion Formosa steel project is on its good
progress in north central Ha Tinh province, it’s not clear to outsiders which
path the Guang Lian project is heading
to.</span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;">Related News:</span><br />
<div style="background-color: white; color: #073763; font-size: 14px; font-weight: normal; margin: 0px; position: relative;">
<span style="font-family: Trebuchet MS, sans-serif;">Guang Lian Steel Project in Dung Quat: in the balancing art of "give-and-take"</span></div>
</div>
Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-16528600517460190.post-257550401650638722014-09-17T17:19:00.002+07:002021-01-13T08:38:34.245+07:00SCIC told to invest in Thai Nguyen steel project<div class="MsoNormal"><span style="font-size: medium;">HANOI – The Government has asked the State Capital
Investment Corporation (SCIC) to pour capital in Thai Nguyen steel expansion
project’s second phase, and urged banks to restructure debts to ease
difficulties for the project owner.</span></div>
<div class="MsoNormal">
<span face="Helvetica Neue, Arial, Helvetica, sans-serif" style="font-size: medium;"><br></span></div>
<div class="MsoNormal">
<span face="Helvetica Neue, Arial, Helvetica, sans-serif" style="font-size: medium;">According to the Prime Minister’s instructions, the project
invested by Thai Nguyen Iron and Steel Corporation (TISCO) and still remaining
uncompleted after seven years will continue to be implemented as proposed by
the Ministry of Industry and Trade.<o:p></o:p></span></div><div class="MsoNormal"><span face="Helvetica Neue, Arial, Helvetica, sans-serif" style="font-size: medium;"><br></span></div><div class="MsoNormal"><span style="font-size: medium;"><span></span></span></div><a href="https://invest.gscorp.xyz/2014/09/scic-told-to-invest-in-thai-nguyen.html#more">Read more »</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-46181791749577153292014-09-12T13:12:00.003+07:002014-09-12T13:15:41.691+07:00Vung Ro - the third refinery project in Vietnam kicks off <div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;">Vietnam has begun construction of Vung Ro oil refinery and petrochemical
project in Phu Yen province in the Southern Central Coast of Vietnam. The
project, which has an investment of nearly $3.2 billion, is designed to have a
capacity of refining 8 million tons of crude per year, and cover an area of 538
hectares, including the area to develop a supporting seaport, according to the
Vietnam News Agency. </span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjz431W268-ErRhhtKOCfoaNrndM42SmWImWmVO3_3hV3ujRvspuCuQRA_vOBCjvvVyI7JTU-00CyQNjpTJiRy4LH3nJcvNW7SpfPm7H-o2zEi_GLpXpIpqGTMtGwMLm4eqd8Su8QKgWiY/s1600/Ground+Breaking+Ceremony+of+Vung+Ro+Refinery+-+ThanhNien.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjz431W268-ErRhhtKOCfoaNrndM42SmWImWmVO3_3hV3ujRvspuCuQRA_vOBCjvvVyI7JTU-00CyQNjpTJiRy4LH3nJcvNW7SpfPm7H-o2zEi_GLpXpIpqGTMtGwMLm4eqd8Su8QKgWiY/s1600/Ground+Breaking+Ceremony+of+Vung+Ro+Refinery+-+ThanhNien.jpg" height="300" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Groundbreaking Ceremony of Vung Ro Refinery & Petrochemical Project in the south central coast province Phu Yen.</td></tr>
</tbody></table>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: Trebuchet MS, sans-serif;">The
refinery configuration allows producing fuel products of high quality (LPG,
Gasoline RON 92/95, Jet Fuel, Diesel, Fuel Oil) and petrochemical products
(Benzene, Toluene, Mixed Xylene, Polypropylene). The products are said to satisfy
both current Vietnam specifications and international standards.</span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<table border="0" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="background: white; border-collapse: collapse; mso-yfti-tbllook: 1184; width: 100%px;">
<tbody>
<tr style="height: 18.75pt; mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td style="border: solid black 1.0pt; height: 18.75pt; mso-border-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt; width: 154.5pt;" width="206"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: Trebuchet MS, sans-serif;"><b><span style="color: #444444;">Product Slates</span></b><span style="color: #444444;"><o:p></o:p></span></span></div>
</td>
<td style="border-left: none; border: solid black 1.0pt; height: 18.75pt; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt; width: 2.75in;" width="264"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: Trebuchet MS, sans-serif;"><b><span style="color: #444444;">VRP Blend (Yield, TPA)</span></b><span style="color: #444444;"><o:p></o:p></span></span></div>
</td>
<td style="border-left: none; border: solid black 1.0pt; height: 18.75pt; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt; width: 2.75in;" width="264"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="font-family: Trebuchet MS, sans-serif;"><b><span style="color: #444444;">Arabian Light (Yield, TPA)</span></b><span style="color: #444444;"><o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">LPG<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">388,293<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">236,307<o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">Gasoline RON 92/95<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">2,168,403<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">2,011,559<o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">Jet Fuel<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">665,546<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">528,828<o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">Diesel<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">2,633,036<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">2,398,811<o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">Fuel Oil<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">0<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">867,500<o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">Benzene<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">73,217<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">44,069<o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">Toluene<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">182,869<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">169,336<o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">Mixed Xylenes<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">349,082<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">311,953<o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">Polypropylene<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">564,222<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">390,375<o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">Sulfur<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">7,981<o:p></o:p></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;">94,037<o:p></o:p></span></span></div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid black 1.0pt; mso-border-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;"><b>Total<o:p></o:p></b></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;"><b>7,032,649<o:p></o:p></b></span></span></div>
</td>
<td style="border-bottom: solid black 1.0pt; border-left: none; border-right: solid black 1.0pt; border-top: none; mso-border-alt: solid black .75pt; mso-border-left-alt: solid black .75pt; mso-border-top-alt: solid black .75pt; padding: .7pt .7pt .7pt .7pt;"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: #444444;"><span style="font-family: Trebuchet MS, sans-serif;"><b>7,052,775</b><o:p></o:p></span></span></div>
</td>
</tr>
</tbody></table>
<div align="right" class="MsoNormal" style="text-align: right;">
<br /></div>
<div align="right" class="MsoNormal" style="text-align: right;">
<b><span style="font-family: Trebuchet MS, sans-serif;">Source: VRP website<o:p></o:p></span></b></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Trebuchet MS, sans-serif;">Upon completion, the refinery is expected to create around 1,300 jobs,
not to mentioned around 15,000 headcounts shall involve in the construction
period and around US$ 110 million of various taxes shall be paid per annum.</span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyEPw-sg9frSJdWl4L_LeZTDGRegC-94x61NG3cwmJ2YLO_jGqQG523a-lWB3nKIsO8MQTllZgPMpU7fvGAjgSnt503Ma3VdKCAx3-2uqOm0YpBWFDSV__AZCS2sQs4lyBOkWIbX-4ETk/s1600/Vung+Ro+Oil+Refinery+Location+Map+-+VRP.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyEPw-sg9frSJdWl4L_LeZTDGRegC-94x61NG3cwmJ2YLO_jGqQG523a-lWB3nKIsO8MQTllZgPMpU7fvGAjgSnt503Ma3VdKCAx3-2uqOm0YpBWFDSV__AZCS2sQs4lyBOkWIbX-4ETk/s1600/Vung+Ro+Oil+Refinery+Location+Map+-+VRP.jpg" height="640" width="540" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">General layout of Vung Ro Refinery & Petrochemical Complex. Source: VRP</td></tr>
</tbody></table>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: 'Trebuchet MS', sans-serif;">This is the third refinery project launched in Vietnam,
after the Dungquat refinery operating since 2009 and the Nghi Son refinery being
now under construction</span><a href="http://www.baobinhdinh.com.vn/viewer.aspx?macm=5&macmp=5&mabb=27897" style="font-family: 'Trebuchet MS', sans-serif;">.
The latest news from Binh Dinh Province Authority on 11<sup>th</sup> Sept 2014</a><span style="font-family: 'Trebuchet MS', sans-serif;">
also revealed that detailed ffeasibility</span><span style="font-family: 'Trebuchet MS', sans-serif;">study for the US$ 22 billion refinery
project of 400,000 bpd has been submitted to Vietnam Ministry of</span><span style="font-family: 'Trebuchet MS', sans-serif;"> </span><span style="font-family: 'Trebuchet MS', sans-serif;">Industry and Trade for consideration. This
project is invested by Thailand-based PTT Group and Saudi Aramco Group and is
expected to be joined by other partners.</span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<br />
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;">Under the circumstances of several refineries to come on
stream in the next few years, including the fact that the current Dung Quat
refinery is working on upgrade and expansion plan, experts foresee the situation
of fuel supply exceeding domestic demand; then there’s a high possibility that
Vietnam would become a petroleum exporter in the future. </span></div>
Unknownnoreply@blogger.com0Đông Hòa, Phú Yên Province, Vietnam12.869033971229921 109.4060355333740512.861293971229921 109.39595053337405 12.876773971229921 109.41612053337406tag:blogger.com,1999:blog-16528600517460190.post-71265440950598559022014-09-09T23:40:00.001+07:002014-09-10T00:06:42.220+07:00Guang Lian Steel Project in Dung Quat: in the balancing art of "give-and-take"<span style="font-family: "Trebuchet MS", sans-serif;">Various news sources recently reported that authorities allowed corporate income tax rate of 10% to be applicable for only 15 years, instead of for the project's whole lifetime (nearly 69 years) as petitioned by </span><span style="font-family: 'Trebuchet MS', sans-serif;">by JFE Steel Corporation (Japan) regarding their tentative investment in the current Guang Lian steel mill project located in Dungquat Economic Zone in Quang Ngai province. </span><span style="font-family: Trebuchet MS, sans-serif;">This is one of petitioned-but-rejected incentive proposals made by the investor who is found to be in the dilemma of whether to going ahead with the project.</span><br />
<span style="font-family: 'Trebuchet MS', sans-serif;"><br /></span>
<span style="font-family: Trebuchet MS, sans-serif;"><b>A rescuing hand for a steel mill in stagnancy?</b></span><br />
<br />
<span style="font-family: "Trebuchet MS", sans-serif;">Licensed in 2006, the sole investor for that giant project had been initially Tycoons Group (Taiwan), later joined another Taiwanese investor - E-United who became the majority stakeholder then, resulting in the increase of registered capital to $3 billion and changing the project name into Guang Lian Steel Mill. A commencement ceremony was organized in October 2007, followed by the construction of some civil works and ground piping, then all execution started to suspend since 2010 end until now. After 7 years of commencement, the project remains in a stagnant situation which has been raising much debates among related parties.</span><br />
<span style="font-family: "Trebuchet MS", sans-serif;"><br /></span>
<span style="font-family: "Trebuchet MS", sans-serif;">Early 2012, JFE expressed its intention to participating in the project, in the form of purchasing controlling stakes in the owners-fluctuating project to become the majority stakeholder (or the real owner), then raising the mill's capacity, changing the configurations to manufacture other types of steel products, and raising the project capital to $4.5 billion. According to <a href="http://www.jfe-steel.co.jp/en/release/2012/120327.html" style="font-family: 'Trebuchet MS', sans-serif;" target="_blank">its initial plan</a>, the final decision on investment would be made in early 2013, to be followed by application for investment certificate amendment and construction kick-off in July 2013. However, this plan has not been materialized. A new plan was proposed for July 2014, and seems to be missed again.</span><br />
<span style="font-family: "Trebuchet MS", sans-serif;"><br /></span>
<span style="font-family: "Trebuchet MS", sans-serif;"><b>Give-and-take dilemma</b></span><br />
<span style="font-family: "Trebuchet MS", sans-serif;"><br /></span>
<span style="font-family: 'Trebuchet MS', sans-serif;">The JFE's participation is expected by local authorities</span><span style="font-family: Trebuchet MS, sans-serif;"> to be the rescuing hand for the long stagnant steel mill project which is now leaving hundreds hectares of land in waste in dim hope. That's what JFE really means to the local community. However, the investor as normal is also keen on benefiting something from the local investment environment. "If, by the end of this year [2012], the study reaches a favorable conclusion, including the feasibility of developing required infrastructure and the availability of incentives, JFE Steel expects to partner with the E United Group to launch a steel-production operation in Vietnam", read a press release announced by JFE Steel in March 2012. </span><br />
<span style="font-family: 'Trebuchet MS', sans-serif;"><br /></span>
<span style="font-family: "Trebuchet MS", sans-serif;"><span style="font-family: "Trebuchet MS", sans-serif;">After great efforts to make a pre-feasibility study available, in 2013, JFE wrote to the authorities to ask for additional incentives such as the allocation of 210 hectares of land and waters to increase the total project area to more than 700 hectares. The Japanese investor also insisted to ensure adequate water supply of 200,000 m3 per day, connecting its electricity system to the national power grid, and especially the very preferential enterprise income tax for the entire project ..., stated by various reports by local government.</span></span><br />
<span style="font-family: 'Trebuchet MS', sans-serif;"><br /></span>
<span style="font-family: 'Trebuchet MS', sans-serif;">Most of the requirements on infrastructure seemed to get nod from the local government (Dung Quat Economic Zone Authority and Quang Ngai Provincial People's Committee). Quang Ngai Authorities was said to agree in principle to allocate additional 185 hectares of land, adjusting the master plan of Dungquat port complex No. 1 to arrange water area for extra terminals serving the steel mill, coordinating with water and power suppliers (both private and state-owned) to secure the utilities for this power-consuming project. </span><br />
<span style="font-family: 'Trebuchet MS', sans-serif;"><br /></span>
<br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjW6Tx01IR2aKmO0KLmD5sfuzXzIGtat7_ObIyRRWRBWQIQf8Tpz6tVSJUcnETs0pjagTzYXoW2g6hQLryw_KD8vOSxjG9mWg6YyrsuFYNJA7xcrGiICyiyxaCdhm7oTkI-kO0GeAvlYew/s1600/gravity-glue-art-rock-balancing-1+(1).jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjW6Tx01IR2aKmO0KLmD5sfuzXzIGtat7_ObIyRRWRBWQIQf8Tpz6tVSJUcnETs0pjagTzYXoW2g6hQLryw_KD8vOSxjG9mWg6YyrsuFYNJA7xcrGiICyiyxaCdhm7oTkI-kO0GeAvlYew/s1600/gravity-glue-art-rock-balancing-1+(1).jpg" height="400" width="265" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Balancing art needs the balance.</td></tr>
</tbody></table>
<span style="font-family: 'Trebuchet MS', sans-serif;"><br /></span>
<span style="font-family: "Trebuchet MS", sans-serif;"><br /><span style="font-family: "Trebuchet MS", sans-serif;">However, the financial incentives prospects have been reportedly cashed dim light over the fate of the project. The investor petitioned to enjoy the preferable corporate income tax (CIT) rate of 10% applicable for the whole project lifetime (including for the expanded capacity when raising the investment capital from $3 billion to $ 4.5 billion); however, CIT rate of 10% was tentatively approved to be applied for only the first 15 years for the expanded capacity, <a href="http://vov.vn/kinh-te/chinh-phu-bac-de-xuat-uu-dai-du-an-thep-tai-dung-quat-338866.vov" target="_blank">VOV</a> quoted a representative from Quang Ngai authority as saying in July 2014. The source also revealed that the proposals of state budget covering the expenses of additional land compensation and port channel dredging was also turned down by the government, that means, the investor would have to handle these works at their own cost, if he wished to proceed with.</span></span><br />
<span style="font-family: "Trebuchet MS", sans-serif;"><br /></span>
<span style="font-family: "Trebuchet MS", sans-serif;"><b>Which or what way to go?</b><br /><br /><span style="font-family: "Trebuchet MS", sans-serif;">Under such circumstances, it's not difficult to imagine how JFE is in the dilema of "give-and-take" when setting up their presence in Vietnam. At the end of 2012, Eiji Hayashida, president of JFE Steel was quoted as saying about JFE's plan for pouring capital to steel mill project in Dung Quat, “Things won’t go smoothly until we make sure that we’ll beat the competition as many projects are being lined up to build new mills in southern China and Vietnam.”, and “We initially said a conclusion will be reached by the end of this year [2012], but we’ll need a bit more time,” said in an <a href="http://www.bloomberg.com/news/2012-12-06/jfe-to-delay-decision-on-3-6-billion-steel-plant-in-vietnam.html" target="_blank">interview 05 Dec 2012</a> at the company’s Tokyo headquarters. And it seems to outsiders that it's now late 2014 and even more time shall be needed. </span></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-75214872988871154932014-09-04T11:50:00.000+07:002014-09-04T15:52:56.039+07:00Vietnam ranks 68th, up two, in global competitiveness report 2014-2015<span style="color: #444444; font-family: Trebuchet MS, sans-serif;">While the region of Asia and Pacific is home to three of the 10 most competitive economies in the world: Singapore, Japan, and Hong Kong SAR and a further three economies are featured in the top 20; Vietnam advances 2 places to the rank of 68th out of 144 in the list, according to the Global Competitiveness Report 2014-2015 released by <a href="http://www.weforum.org/" target="_blank">World Economic Forum</a>. Vietnam is among the five largest Southeast Asian economies (ASEAN-5) featuring in the top half of the rankings, and making strides in the edition for 2014-2015. </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span><span style="font-family: Trebuchet MS, sans-serif;"><b>Steady improvement in the macro economy, public institution and labor market </b></span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span><span style="font-family: Trebuchet MS, sans-serif;">At the rank of 68th, Vietnam’s performance remained almost unchanged from the past 2 years (70/144 for the 2012-2013 and 2013-2014). Following an experience of high inflation in 2011, the country’s macroeconomic situation continues to improve (75th, up 12 positions), as inflation declined to 6.6 percent. Institutions pillar also receive a better assessment (92th, up six), on the basis of better property rights protection and improved efficiency. </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCPazHXL2snStPen3h-KDXbgJIp8kOMZbPAMhyphenhyphenX6322oUJYb7TY9athuI_p4A4kY1TwxB-Xral4b5rypArzLXez32Kvwje-qdvxM1yrBlmu-CWaeOMY2mFkSefunSGtK7TwbzwGgChlms/s1600/Vietnam+Global+Competitiveness+Index+2014+2015+-+Stage+of+Development.bmp" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCPazHXL2snStPen3h-KDXbgJIp8kOMZbPAMhyphenhyphenX6322oUJYb7TY9athuI_p4A4kY1TwxB-Xral4b5rypArzLXez32Kvwje-qdvxM1yrBlmu-CWaeOMY2mFkSefunSGtK7TwbzwGgChlms/s1600/Vietnam+Global+Competitiveness+Index+2014+2015+-+Stage+of+Development.bmp" height="400" width="358" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Comparison of the 12 GCI Pillars between Vietnam and Emerging & Development Asia. Source: World Economic Forum</td></tr>
</tbody></table>
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span><span style="font-family: 'Trebuchet MS', sans-serif;">According to WEF’s definition, the institutional environment is determined by the legal and administrative framework within which individuals, firms, and governments interact to generate wealth. The importance of a sound and fair institutional environment has become all the more apparent during the recent economic and financial crisis and is especially crucial for further solidifying the fragile recovery, given the increasing role played by the state at the international level and for the economies of many countries. </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span><span style="font-family: Trebuchet MS, sans-serif;">In a region where many countries have poorly functioning labor markets, Vietnam ranks a satisfactory 49th, its best showing among the 12 pillars combined to determine the competitiveness index, especially thanks to the “pay and productivity” aspect ranking 23rd. The highest ranking pillar for Vietnam is the market size (34th). The quality of transport and energy infrastructures also improves slightly. </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span><span style="font-family: Trebuchet MS, sans-serif;"><b>Much concerns over access to financing and low readiness for technology</b> </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span><span style="font-family: Trebuchet MS, sans-serif;">Vietnam’s financial sector and its banks remain vulnerable. Technological readiness remains low (99th, up three). The country’s businesses are especially slow in adopting the latest technologies (with technology readiness ranking 99th) thus forfeiting significant productivity gains through technological transfer. The degree of business sophistication is low (106th, down eight), with companies typically operating toward the bottom of the value chain (nature of competitive advantage and value chain breadth rank extremely low at 128th, 112th respectively). </span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9jreng1YKi_W_djiB8MHXipNCMeoFcwsN7FRGwnX2aBVRIOokaveXmTGNHkZQPoRanxwkKv074snrRUHVB9jzGfyDMp733lFZpTwJeOZMMcu3SmRLvpq6sv3fFPKEGIjgNHRCCdO8D2I/s1600/Vietnam+Global+Competitiveness+Index+2014+2015.bmp" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9jreng1YKi_W_djiB8MHXipNCMeoFcwsN7FRGwnX2aBVRIOokaveXmTGNHkZQPoRanxwkKv074snrRUHVB9jzGfyDMp733lFZpTwJeOZMMcu3SmRLvpq6sv3fFPKEGIjgNHRCCdO8D2I/s1600/Vietnam+Global+Competitiveness+Index+2014+2015.bmp" height="400" width="313" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Vietnam's GCI for 2014-2015. Source: World Economic Forum</td></tr>
</tbody></table>
<br />
<span style="font-family: Trebuchet MS, sans-serif;">The report also lists the most problematic factors for doing business in Vietnam, based on the opinions of respondents. Of major concerns are the factors of, among others, access to financing, inadequate educated workforce and policy instability. </span>Unknownnoreply@blogger.com0Indochina21.091226359262681 105.11313656.11592135926268 84.4588395 36.066531359262683 125.7674335tag:blogger.com,1999:blog-16528600517460190.post-52464012204015666432014-08-31T10:25:00.000+07:002015-01-28T02:56:59.026+07:00150,000 DWT oil tanker accesses Dungquat SPM<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;">According to news
released by PVN, on 23<sup>rd</sup> August 2014, Binh Son Refining and
Petrochemical Company Limited (BSR) successfully received crude oil tanker of
150,000 DWT to import 1 million barrels of AZERI crude oil from Azerbaijan
through the Single Point Mooring (SPM) system of Dung Quat Oil Refinery. This
is the biggest first-ever oil tanker accessing this facility after 5 years of
operation; in the past, only tankers of up to 110,000 DWT could visit here. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;">During the 2<sup>nd</sup>
overall maintenance of the refinery which lasted 57 days, nearly 7,000 items
were done with the involvement of 3,400 professional staffs of BSR,
contractors, partners. It was divided into 5 main packages, notably the the package
4 was implemented by BSR themselves including the maintenance of rotating
equipment, electrical equipment, automation equipment, a number of simple static
devices and oil pipelines. Meanwhile, the repair of defects for thermal
expansion joints EX-101 in RFCC workshop was conducted by Technip/JGC
contractor (EPC contractor of Dung Quat Oil Refinery Plant) and connection of
awaiting ends for SRU 2 project was implemented by JGC contractor.<o:p></o:p></span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiRwPGQHTiebJS7zQUqsqaClldBY0cd1HBDGJafT3UUTonBMRbw5IpB0Cn6-5Q2ASl5Ng2edCyLnXk13uLIr-feqhB7cWDttmTneRcnbuRWD_FKHezjWKy2wtEyiTBo3LOHFHM9lx1IMKI/s1600/SPM+with+150,000+DWT.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiRwPGQHTiebJS7zQUqsqaClldBY0cd1HBDGJafT3UUTonBMRbw5IpB0Cn6-5Q2ASl5Ng2edCyLnXk13uLIr-feqhB7cWDttmTneRcnbuRWD_FKHezjWKy2wtEyiTBo3LOHFHM9lx1IMKI/s1600/SPM+with+150,000+DWT.jpg" height="266" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">The first 150,000 DWT Oil Tanker at Dungquat SPM. Photo courtesy: PVN</td></tr>
</tbody></table>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;">Following the
successful maintenance and upgrading of single-point mooring buoy, BSR imported
the first crude oil from tanker of 150,000 DWT instead of 110,000 DWT
previously. At transformation cost of US$ 300,000 only, SPM system has been
improved to receive crude oil vessels of double capacity from Aframax vessel
size (80,000 - 110,000 DWT) to Suezmax vessel size (150,000 DWT). Currently,
BSR is capable of receiving crude oil from different regions of the world such
as West Africa, the Mediterranean ... to help diversify sources of crude oil
for processing at Dung Quat Oil Refinery, improving efficiency, reducing
production costs and saving USD 10-15 million . <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;"><br /></span></div>
<br />
<div class="MsoNormal">
<span style="font-family: Trebuchet MS, sans-serif;">It was the 398<sup>th</sup>
crude oil vessel received BSR through this SPM since the plant was put into
operation in 2009, with totally 31,288,140 million tons of crude oil handled, approximately
27,985,737 tons of products refined.</span><span style="font-size: medium;"><o:p></o:p></span></div>
Unknownnoreply@blogger.com0SPM, Dungquat Refinery, Quang Ngai, Vietnam15.359514893467502 108.8434410095214815.3518588934675 108.83335600952148 15.367170893467502 108.85352600952149tag:blogger.com,1999:blog-16528600517460190.post-57346717276869702232014-08-27T08:59:00.000+07:002015-01-28T02:57:57.066+07:00SOE equalization to fuel M&A activity <div class="MsoNormal" style="margin: 0in 0in 8pt;">
<span style="font-family: Calibri;"><o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0in 0in 8pt;">
<span style="font-family: Calibri;">Experts forecast equitizing hundreds of State-owned enterprises (SOEs) between now and next year as ordered by the Government will lead to stronger merger and acquisition (M&A) activity in Vietnam, the Saigon Times Daily reported on August 12.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0in 0in 8pt;">
<span style="font-family: Calibri;">The M&A activity is also expected to accelerated by the fact that State business groups and corporations required to divest from non-core business areas (mostly including banking, real estate and securities investments) to focus on their respective core industries. <span style="mso-spacerun: yes;"> </span>Thanks to that, SOEs will provide the market with a huge amount of capital via their divestments of non-core investments and equitation, and these are great opportunities for investors.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0in 0in 8pt;">
<span style="font-family: Calibri;">Sam Yoshida, senior managing director of Recof, an M&A consulting firm in Japan, was cited by the Saigon Daily as saying that more investors from this Northeastern Asian country in are keen on the Vietnamese market thanks to low labour cost, a plentiful supply of labour, political stability and great potential for growth.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0in 0in 8pt;">
<span style="font-family: Calibri;">It is expected that the target for 432 SOEs to go public by the end of 2015 is possible as the pace of SOE equalization in the past seven months of this year was fast, according to the Steering Committee for Enterprise Reform and Development. In the January-July period, State corporations and groups divested a total of 2.975 trillion VND, three times higher than that of last year, but the divestment process remained slow. There have been 76 enterprises restructured in the year to date, with 55 equitized, two dissolved, one sold, 15 merged and three filing for bankruptcy. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0in 0in 8pt;">
<span style="font-family: Calibri;">As of last month, the Prime Minister had approved the restructuring plans of 20 State groups and corporations, including <b style="mso-bidi-font-weight: normal;">Vietnam National Textile and Garment Group (Vinatex)</b> which is scheduled to offer its initial public offering (IPO) on the Hochiminh Stock Exchange (HOSE) in September this year.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0in 0in 8pt;">
<span style="font-family: Calibri;">According to Vinatex’s equalization plan approved by the Government, the group has total chartered capital of 5 trillion VND. After the group goes public, the State will retain a 51% stake while 24% will be offered to strategic investors, 24.4% put up for auction and 0.6% sold to employees.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0in 0in 8pt;">
<span style="font-family: Calibri;">Another State corporation, <b style="mso-bidi-font-weight: normal;">Vietnam Airlines</b>, is proceeding with a plan to launch an IPO later this year and sell shares to strategic investors around the end of this year. According to Decision by Minister of Transport, the value of holding company Vietnam Airlines was more than 57.1 trillion VND (over 2.7 billion USD) as of March 31 last year, with State capital making up more than 10.5 trillion VND. Vietnam Airlines wants to sell 25 percent of its chartered capital to investors at the IPO. Later, the State shares at this corporation will gradually lower to 65%. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin: 0in 0in 8pt;">
<span style="font-family: Calibri;">Compiled from VNA & Saigon Daily</span></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-5312732697780903562014-08-23T10:56:00.000+07:002014-08-23T12:48:12.904+07:00Development master plan set for Dungquat Port Complex II<blockquote class="tr_bq">
<span style="font-family: Verdana, sans-serif;">Further to the expansion plan for Dung Quat Economic Zone
which now covers an area of more than 45,000 hectares, a master plan to develop
Dung Quat Port No. 2 in area of 1,850 hectares of land and waters has been
revealed, following the approval by
Ministry of Transportation.</span></blockquote>
<div class="MsoNormal">
<span style="font-family: Verdana, sans-serif;">Dungquat Port II is designed into specialized berths
dedicated to giant plants adjacent to port and the factories not adjacent but
not so far away, and general cargos berths to be commonly used for the locality
and the neighboring areas.</span></div>
<div class="MsoNormal">
<span style="font-family: Verdana, sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: Verdana, sans-serif;">In the first phase of development expected to finish by
2020, the southern part of the port shall be built first, including a 450m long
terminal for bulk cargos vessels of 200,000 DWT, 03 terminals for bulk general
cargos vessels of 50,000DWT with combined berth length of 850m; a break water
of 2,050m length; entrance channel of 300m width and depth of -20,5m. Further
development shall be started in the northern part of the port complex in the
second phase until 2025.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: Verdana, sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: Verdana, sans-serif;">Then for the third phase until 2030, another terminal shall
be constructed for general cargoes vessels of 50,000DWT, and around 11 terminals
more are intended to set up after 2030.</span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiodqHiV8k2C-cidDxmBkRWB6LmyH1VF7W_7YcquBK0QIJTACtHTL0Qb-JZGKmoJvChUlO3uCl0p1DkqYRO-bQhkHS7VFO6gvV5qSDyfscuFoSzCRsKDphfIaXk1Z7h-UZjZcIuLvgv21c/s1600/Rubber-tired+Cranes+prepared+to+be+delivered+from+Doosan+Vina+Specilized+Port+to+Port+of+Singapore+Authority.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiodqHiV8k2C-cidDxmBkRWB6LmyH1VF7W_7YcquBK0QIJTACtHTL0Qb-JZGKmoJvChUlO3uCl0p1DkqYRO-bQhkHS7VFO6gvV5qSDyfscuFoSzCRsKDphfIaXk1Z7h-UZjZcIuLvgv21c/s1600/Rubber-tired+Cranes+prepared+to+be+delivered+from+Doosan+Vina+Specilized+Port+to+Port+of+Singapore+Authority.jpg" height="212" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Rubber-tired cranes exported at Doosan Vina Specialized Port located in the Dungquat Port Complex No. 1</td></tr>
</tbody></table>
<div class="MsoNormal">
<span style="font-family: Verdana, sans-serif;"><br /></span></div>
<br />
<div class="MsoNormal">
<span style="font-family: Verdana, sans-serif;">The port complex No. 1 of Dungquat is now almost fully occupied,
including the specialized berths for Dungquat Shipyard (dock for building
ships), for Korean-invested Doosan Vina to export huge structures of boilers,
cranes, desalination plants … and for the pending Guanglian steel mill. The
current port also includes berths of Gemadept and PTSC for general cargoes vessels, where woodchips is extensively exported in recent years. Embedded
along the huge break water of the port are petroleum jetties where oil products
made at Dungquat Refinery is loaded to oil vessels.</span><o:p></o:p></div>
<div class="MsoNormal">
<span style="font-family: Verdana, sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: Verdana, sans-serif;"><a href="https://dungquatez.files.wordpress.com/2014/08/decision-by-ministry-of-transportation-2955-on-the-master-plan-of-dungquat-port-complex-ii.pdf" target="_blank">Decision by Ministry of Transportation 2955 on the master plan of Dungquat Port Complex II</a></span></div>
Unknownnoreply@blogger.com0Bình Hải, Binh Son District, Quang Ngai, Vietnam15.315975934268462 108.8642120361328115.285348434268462 108.82387153613281 15.346603434268461 108.90455253613281tag:blogger.com,1999:blog-16528600517460190.post-77190546870588703032013-11-24T15:23:00.000+07:002014-08-23T08:40:46.748+07:00No “syndrome” of oil refineries in Vietnam, lawmakers reassured<div data-mce-style="text-align: left;" style="color: #333333; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 14.44444465637207px; line-height: 23.33333396911621px; margin-bottom: 1.3em;">
<span data-mce-style="font-size: 14px; line-height: 1.5;" style="line-height: 1.5;">24</span><sup>th</sup><span data-mce-style="font-size: 14px; line-height: 1.5;" style="line-height: 1.5;"> Nov 2013</span></div>
<div style="color: #333333; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 14.44444465637207px; line-height: 23.33333396911621px; margin-bottom: 1.3em;">
At a recent addressing at the National Assembly, Vietnam Prime Minister reassured the lawmakers on their concerns over the so-called oil refinery “syndrome” in the country that implicated that the oil refining projects Vietnam are blooming unnecessarily. The Prime Minister said there was no such syndrome except for the fact that the state-owned Thai PTT's proposed mega-refinery to be located in Binh Dinh province is the only one so far not included in the master plan [for oil refinery and petrochemical projects].</div>
<div data-mce-style="text-align: center;" style="color: #333333; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 14.44444465637207px; line-height: 23.33333396911621px; margin-bottom: 1.3em; text-align: center;">
<a data-mce-href="http://dungquatez.files.wordpress.com/2013/11/nghi-son-groundbreaking-press-the-button.jpg" href="http://dungquatez.files.wordpress.com/2013/11/nghi-son-groundbreaking-press-the-button.jpg"><img alt="Groundbreaking Ceremony of Nghi Son Oil Refinery and Petrochemical Complex in Oct 2013 - Source: Nangluongvietnam" class="aligncenter wp-image-97" data-mce-src="http://dungquatez.files.wordpress.com/2013/11/nghi-son-groundbreaking-press-the-button.jpg?w=300" height="344" src="http://dungquatez.files.wordpress.com/2013/11/nghi-son-groundbreaking-press-the-button.jpg?w=300" style="border: 0px; display: block; margin-left: auto; margin-right: auto;" width="600" /></a></div>
<div style="color: #333333; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 14.44444465637207px; line-height: 23.33333396911621px; margin-bottom: 1.3em;">
“This project is invested by a big Thai oil refining corporation and it’s just in the pre-feasibility study stage; after the study, only when both economic and social effectiveness is proven, then it would be included in the national master plan” he further explained.</div>
<div style="color: #333333; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 14.44444465637207px; line-height: 23.33333396911621px; margin-bottom: 1.3em;">
He also cited some facts that the Dungquat oil refinery is running at its full capacity of 6 million tones/year and brings about obvious effectiveness; and Russian Gazprom and Vietnamese PVN already inked a cooperation agreement on raising its capacity to 10 million tons/year during a recent visit by Russian president to Vietnam. The work will also upgrade the technical efficiency of motor fuel production to meet the Euro-5 standard. “We basically do not have to pour more money to raise Dungquat refinery’s capacity because its share shall be sold to Gazprom [and Vietnam will use the capital from such sales]”, he acknowledged.</div>
<div style="color: #333333; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 14.44444465637207px; line-height: 23.33333396911621px; margin-bottom: 1.3em;">
Meanwhile, PetroVietnam and its partners began construction at the 200,000 b/d Nghi Son refinery and petrochemical complex last month. This project is jointly invested by Vietnamese PVN (25% of shares), an Kuweit Petroleum Corporation (35%) and Mitsui Petrochemical Inc (40%) with the total investment estimated at US$ 9 billion. The refinery is planned to finish construction within 40 months and to start commercial operation in 2017. According to Prime Minister Dung, this project will be also very effective because the Kuwait pledges to supply 100% of the input crude oil for the refinery during its lifetime.</div>
<div style="color: #333333; font-family: Georgia, 'Times New Roman', 'Bitstream Charter', Times, serif; font-size: 14.44444465637207px; line-height: 23.33333396911621px; margin-bottom: 1.3em;">
Two other proposed 200,000 b/d refinery and petrochemical projects -- PVN's Long Son complex in the southern province of Ba Ria Vung Tau and state-owned Petrolimex's Nam Van Phong project in the central province of Khanh Hoa -- are looking for foreign investors, the prime minister said. Meanwhile, the refinery project in Can Tho (2 million tons per year) is said to face difficulties in financial arrangement and would be likely to be revoked.</div>
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</script>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-16528600517460190.post-11360476816998734712013-11-22T15:35:00.000+07:002013-11-22T15:35:42.595+07:00JGC led JV Awarded Contract for Refinery and Petrochemical Complex in Vietnam<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif;">Jan 2013</span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"> <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Yokohama Japan – JGC Corporation (JGC), Chiyoda Corporation (Chiyoda),
Technip, and South Korean contractors GS Engineering & Construction (GS)
and SK Engineering & Construction (SK) today jointly announced that the
joint venture, formed by JGC, Chiyoda, Technip, GS and SK, has received
notification of the award of a contract for the Nghi Son refinery and
petrochemicals complex in the Nghi Son economic zone in northern Vietnam. The
contract was awarded by the Nghi Son Refinery Petrochemical Limited Liability
Company, a joint venture between Idemitsu Kosan Co., Ltd (35.1%), Kuwait
Petroleum International (35.1%), Vietnam Oil and Gas Corporation (25.0%), and
Mitsui Chemicals, Inc. (4.8%). The lump-sum turnkey contract calls for the
engineering, procurement, construction (EPC) and commissioning work for an oil
refinery with a production capacity of 200,000 barrels per day. The complex,
scheduled for completion in late 2016, will be located in the Thanh Hoa
Province in Vietnam, 200 km south of the capital city of Hanoi. The value of
the contract was not disclosed.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">This project, which is being promoted by Idemitsu Kosan Co., Ltd.,
Kuwait Petroleum International, Vietnam Oil and Gas Corporation, and Mitsui
Chemicals, Inc. is a grassroots oil refinery and petrochemical complex project
in Vietnam. This project will be the second constructed in Vietnam, and is
aimed at satisfying increasing demands for petroleum products to support the
progress of Vietnam's motorization, as well as produce petrochemicals for
export. Together with Vietnam's first refinery, the Dung Quat refinery
(constructed by a consortium of JGC, Technip and others, and completed in
2009), the Nghi Son refinery and petrochemical complex will be a major pillar
supporting the country's economic development.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">JGC has been targeting marketing activities toward Southeast Asian
countries, including Vietnam, and has been concurrently working on
strengthening and expanding JGC Vietnam, an EPC subsidiary of JGC established
in Vietnam in 2009. Part of JGC's portion of this project is scheduled to be
constructed by JGC Vietnam.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">JGC plans to become involved in many more oil refining and
petrochemicals projects in Vietnam in the future. JGC has been responsible for
the construction of more than fifty oil refineries, and JGC and JGC Vietnam are
focusing marketing activities on Southeast Asia in hopes of contributing to
building Vietnam's industrial base and furthering economic development.</span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<br />
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Source: JGC</span></div>
Unknownnoreply@blogger.com0