Nov. 19 - Vietnam's Prime Minister Nguyen Tan Dung has denied the construction of a Korean steel mill by the Posco Group in Dam Mon in Van Phong bay, Khanh Hoa province.

The Prime Minister said the Posco steel mill would clash with the development of the approved Van Phong international container port, in addition to the project not passing the strict requirements for ecological environment protection.

According to Nahn Dan News, PM Dung said that priority should be given to the Van Phong entrepot project and environmental protection for ensuring sustainable development.

If implemented, the Posco

Oct. 8 - The state-owned Electricity of Vietnam (EVN) has been tasked to submit plans to increase power prices gradually beginning next year.

EVN will be using the extra capital to invest in more power generation projects.

The Deputy General Director of EVN, Dinh Quang Tri, told media that the price hike should encourage local and foreign investment in the industry and lead to efficient use of power.

“The Ministry of Industry and Trade will coordinate with other ministries and sectors to decide the rate of the increase, its timing and implementation,” Minister of Industry and Trade Vu Huy Hoang told Thanh Nien News.

Mar. 26 - Vietnam’s trade deficit in the first quarter of this year reached US$7.36 billion, nearly four times higher than during the same period last year, the General Statistics Office (GSO) reported yesterday.

The GSO attributed the deficit to the depreciation of the U.S. dollar against the Vietnamese dong, resulting in lower earnings for export contracts.