Miscellaneous News
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Let's move manufacturing out of China and to Vietnam!
June 5, 20235:33 PM GMT+8Updated 5 hours ago
HANOI, June 5 (Reuters) - Vietnam's rolling power cuts have hit industrial parks in the country's northern provinces where top global manufacturers such as Foxconn and Samsung have factories, officials said on Monday, as a surge in consumption amid a heatwave stretched the power supply system.
The frequent and often unannounced power cuts prompted EuroCham, which represents European companies in the country, to send a letter on Monday to the industry and trade ministry urging quick measures to address the emergency.
Some industrial parks in the northern provinces of Bac Ninh and Bac Giang have been facing blackouts, said two local investment officials, declining to be named as they were not authorised to speak to media.
"We are working with EVN later today to discuss the situation and possible measures to limit the impacts," one of the officials said, referring to the country's state utility Electricity of Vietnam.
The provinces house production facilities of Samsung Electronics , Foxconn , Canon Inc and Luxshare , among others.
"Vietnam's industry ministry should take urgent measures before the country's reputation as a reliable global manufacturing hub is undermined," Jean-Jacques Bouflet, deputy chairman of EuroCham Vietnam told Reuters on Monday, adding that the power cuts seriously disrupted industrial activities.
State media reports cited EVN's northern unit as saying power to Canon's factory in Bac Ninh will be cut from 8:00 am local time on Monday until 5:00am on Tuesday, adding power to at least five industrial parks and several villages in the province will be partially or fully cut for several hours during the first days of this week.
It was not immediately clear if the other companies were affected. The companies and EVN did not immediately respond to requests for comment.
The blackouts threaten efforts to avert an economic slowdown due to weak demand in key export markets, after first-quarter growth slipped to 3.3% from 5.9% in the fourth quarter.
The country has been and manufacturers switching operations to off-peak hours to keep the national power system running, with more than 11,000 companies having agreed to cut consumption where possible.
Deputy Minister of Industry and Trade Do Thang Hai admitted at a government meeting over the weekend that there had been "power shortages for households and businesses at certain locations at certain time", adding that the difficulties would continue.
Vietnam's power blackouts hit multinationals' manufacturing hubs
By Khanh Vu andJune 5, 20235:33 PM GMT+8Updated 5 hours ago
HANOI, June 5 (Reuters) - Vietnam's rolling power cuts have hit industrial parks in the country's northern provinces where top global manufacturers such as Foxconn and Samsung have factories, officials said on Monday, as a surge in consumption amid a heatwave stretched the power supply system.
The frequent and often unannounced power cuts prompted EuroCham, which represents European companies in the country, to send a letter on Monday to the industry and trade ministry urging quick measures to address the emergency.
Some industrial parks in the northern provinces of Bac Ninh and Bac Giang have been facing blackouts, said two local investment officials, declining to be named as they were not authorised to speak to media.
"We are working with EVN later today to discuss the situation and possible measures to limit the impacts," one of the officials said, referring to the country's state utility Electricity of Vietnam.
The provinces house production facilities of Samsung Electronics , Foxconn , Canon Inc and Luxshare , among others.
"Vietnam's industry ministry should take urgent measures before the country's reputation as a reliable global manufacturing hub is undermined," Jean-Jacques Bouflet, deputy chairman of EuroCham Vietnam told Reuters on Monday, adding that the power cuts seriously disrupted industrial activities.
State media reports cited EVN's northern unit as saying power to Canon's factory in Bac Ninh will be cut from 8:00 am local time on Monday until 5:00am on Tuesday, adding power to at least five industrial parks and several villages in the province will be partially or fully cut for several hours during the first days of this week.
It was not immediately clear if the other companies were affected. The companies and EVN did not immediately respond to requests for comment.
The blackouts threaten efforts to avert an economic slowdown due to weak demand in key export markets, after first-quarter growth slipped to 3.3% from 5.9% in the fourth quarter.
The country has been and manufacturers switching operations to off-peak hours to keep the national power system running, with more than 11,000 companies having agreed to cut consumption where possible.
Deputy Minister of Industry and Trade Do Thang Hai admitted at a government meeting over the weekend that there had been "power shortages for households and businesses at certain locations at certain time", adding that the difficulties would continue.
By refusing defense hotlines and negotiations, intercepting US assets, banning Micron, raiding US companies, etc. What again?
Damn right China is not Yugoslavia or Iraq which is why casus belli matters less than actual having the capability.
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The Estonian Chihuahua continues to bark.
...no comment, I'm speechless...
...no comment, I'm speechless...
A beautiful sight to behold. I fully support and endorse the right of all LGBTQ to spread their culture in the Anglo Five Eyes countries. Such displays of bravery fully embody the values of freedom, democracy and liberty we all hold close to heart.
#LGBTQ #transrights #gaypride
Well lets first try to bridge this decade india.
This is some degen shit that has nothing to do with gay rights and stuff, it kind of sad because right now that the gays have gotten their equal rights the liberal empire is starting to crumble at the edges. When it falls they will stamp down hard on the LGBTQ community as end of empire shit. At least that is what they said about previous empires that fell that the court became to degenerate and didn't want to focus on real problems.
Same story. Like music moving in the same tune. Make countries dependent on western military supplies and intelligence so they become heavily reliant on you for defense and then you can put easier pressure on them.
Lack of infrastructure is the major roadblock to any kinds of de-risking, de-coupling, de-whateverbuzzword.
Multinationals will invest in production, but they will not invest in roads/transportation, port facilities, or the power grid. These are too expensive and won't yield a positive return. Poorer countries will have trouble financing these large projects (heck, rich countries have trouble financing these projects...)
Furthermore, to stabilize the power grid, these countries will most likely seek out the cheapest and most reliable source of electricity which is traditional coal fired thermal power plant. This will be contrary to developed countries' stated goals of fighting climate change.