US giant backs Vietnam’s bid to lead ASEAN gas trade
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
A former leader of Ha Tinh Province in central Vietnam was removed from the country’s top legislative body on Monday after being held accountable for a toxic spill caused by Taiwan’s Formosa steel plant a year ago.
A former leader of Ha Tinh Province in central Vietnam was removed from the country’s top legislative body on Monday after being held accountable for a toxic spill caused by Taiwan’s Formosa steel plant a year ago.
The National Assembly’s Standing Committee voted to remove Vo Kim Cu after he filed a petition to leave due to health reasons.
The decision came less than a month after the ruling Communist Party’s Secretariat rebuked Cu and retroactively fired him from various positions as a senior Party leader in Ha Tinh between 2005 and 2015, including his role as the provincial party secretary.
He has been chairman of Vietnam’s Cooperative Alliance since November 2015.
The Secretariat’s investigation found that Cu had approved investment licenses and an illegal waste pipeline at the Formosa steel plant.
He was among 11 government, provincial and industry officials, including former environment minister Nguyen Minh Quang, who were named and shamed in February for the disaster.
In June last year, Formosa agreed to pay $500 million in compensation for the toxic spill that polluted 125 miles of coastline in Ha Tinh and three nearby provinces.
The pollution, first reported in April 2016, has been named the biggest environmental disaster to ever hit Vietnam after it devastated sea life and local economies dependent on fishing and tourism.
The environment ministry said the affected region might need a decade to completely recover from the incident, while experts predict the disaster may set Vietnam’s economy back for years.
However, environment officials last week agreed for the plant to test run a new furnace on a six-month trial period after concluding that it had fixed all violations related to environmental protection.
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
Scheduled for completion in 2027, the logistics facility will be the first of its kind in Vietnam significantly boosting parcel processing capacity up to 7 million parcels daily.
Gamuda Land will use the loan to invest in a luxury real estate project in Ho Chi Minh City.
Amid global economic volatility, WHA Group has rapidly rolled out multiple expansion projects in Vietnam, signaling its strategic focus on the country.
Hai Phong Port JSC. has inaugurated international container terminals No. 3 and 4 at Lach Huyen, raising its throughput capacity to 3.5 million TEUs per year.
Hoang Huy expects revenue to exceed VND4 trillion and post-tax profit to reach up to VND2 trillion in fiscal year 2025-2026, targeting annual growth of over 30% for the next five years.