Business

470 mln USD for Nhon Trach 2 power project

Six foreign banks and the PetroVietnam Nhon Trach 2 Power Joint Stock Company (PVNTP) signed a contract valued at 470 million USD for Nhon Trach 2 Thermal Power project (NTTP) on August 10 in Hanoi.
Six foreign banks and the PetroVietnam Nhon Trach 2 Power Joint StockCompany (PVNTP) signed a contract valued at 470 million USD for NhonTrach 2 Thermal Power project (NTTP) on August 10 in Hanoi.

These six banks include Citi Bank, HSBC, Credit Agricole, Sumitomo, Japan Development Bank and AK Bank.

Under the contract, the NTTP in the southern province of Dong Nai willborrow 470 million USD for 12 years with preferential interest rate topay for the Engineering, Procurement and Construction (EPC) contract ofthe project.

Hoang Xuan Quoc, General Director ofPVNTP said the first turbine group will start generating power in March,2011; the second will generate power in April, 2011 and the commercialpower will be delivered by the end of 2011.

The 706million USD NTPP includes two turbine groups with a total capacity of500MW and uses Nam Con Son gas as fuel for generating power.

The PVNTP is jointly invested by PetroVietnam, Electricity of Vietnam,Vietnam National Coal-Mineral Industries Group and Vietnam Posts andTelecommunications Group./.
Follow VietnamPlus

See more

A display area for Mid-Autumn Festival cakes at a supermarket (Photo: VNA)

Mid-Autumn Festival cake market heats up at affordable end

Industry insiders say competition is no longer just about the cake itself. Product quality, packaging, brand reputation, delivery services and personalisation are increasingly shaping consumer choices in a market crowded with both domestic and foreign players.

Minister of Foreign Affairs Le Hoai Trung (Photo published by VNA)

Vietnam, India set 25 billion USD trade goal

Vietnam and India agreed to make better use of complementary strengths, ease market access difficulties and facilitate business activities toward achieving the 25 billion USD bilateral trade target.

Delegates at the meeting between Vietnamese businesses operating in Cambodia and the Council for the Development of Cambodia (CDC) on September 14. (Photo: VNA)

Vietnamese businesses seek to expand investment in Cambodia

Vietnam currently has 223 investment projects in Cambodia with total registered capital of nearly 3.4 billion USD. Vietnamese companies operate in agriculture, particularly large-scale farming, finance and banking, telecommunications, aviation, processing, trade and services.

Children visit President Ho Chi Minh's hometown and learn about his childhood. (Photo: VNA)

Vietnam's tourism sector faces labour shortage

A 2026 survey by Hoteljob.vn found that nearly 90% of tourism businesses planned to recruit. In Ho Chi Minh City alone, 89.7% of businesses were hiring, while 71.8% said recruitment was difficult or very difficult. The biggest shortages were among frontline workers, particularly in housekeeping, engineering, food service, front-office operations, and kitchens.

Octopus processing for export at Huy Nam Company in An Giang province. (Photo: VNA)

New opportunities for Vietnam’s seafood exports

The Vietnam-EFTA Free Trade Agreement brings together two groups of highly complementary economies. EFTA members Switzerland, Norway, Iceland and Liechtenstein have strengths in technology, innovation, finance, clean energy and sustainable development, while Vietnam is one of Asia’s most dynamic economies and is emerging as a major regional manufacturing, trade and investment hub.

The saponin content of Lai Chau ginseng can reach as high as 23.85% in its natural state, a remarkably high level compared to many other ginseng species. (Photo: baolaichau.vn)

Lai Chau ginseng development gains momentum

Blessed with rare and distinctive ecological values, the northern mountainous province of Lai Chau is stepping up efforts to conserve and develop its native ginseng, with the medicinal plant expected to play a growing role in the forest-based economy and local livelihoods.

The Vietnamese delegation poses for a group photo at the third meeting of the Vietnam-Canada Joint Economic Committee (Photo: VNA)

Vietnam, Canada broaden economic cooperation beyond trade

Vietnam is currently Canada’s largest trading partner in ASEAN. Building on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the two countries are expanding bilateral economic ties into higher value-added areas such as clean energy, critical minerals, advanced technology, manufacturing and value-chain linkages.

The Index of Industrial Production (IIP) rises 14.4% in August and 11.9% in the first eight months compared to a year earlier. (Photo: VNA)

More momentum needed for economic growth in year-end race

To build momentum for the year-end race, one of the top priorities is to accelerate public investment disbursement, ensuring 100% of the allocated plan is disbursed without allowing funds to be concentrated in the final months of the year.

Vietnamese enterprises showcase products at the Vietnam Pavilion during the Foodist Istanbul 2026 fair. (Photo: Vietrade)

Vietnamese goods gain export opportunities in Türkiye, Spain

Vietrade said the programme helped businesses gain practical market information, identify potential products and partners, and better understand requirements on quality, pricing and distribution. Such direct connections are expected to help companies adapt their products and develop more effective export strategies.