Vietnam's power crisis hits local firms, foreign investors

This photograph taken on May 30, 2023 shows a view of Hanoi city after some street lights were turned off to save electricity as demand for air conditioning soars. Nhac NGUYEN / AFP

"We had a 26-hour power cut. It cost us tens of thousands of dollars that day. It's not nice at all," said Vu Chi Hieu, director of Vietnam's KingBill XNK Joint Stock Company that produces aluminium parts in Bac Ninh province, which neighbours Hanoi. "The power shortage has been and will be intense in the north," until early July, Trung warned at a roundtable discussion in Hanoi late last week.Bad image

"The power cut issue will be very serious for not only firms who have already invested in Vietnam, but also for us trying to call for investors to come to Vietnam," Hong Sun, chairman of the Korean Chamber of Business in Vietnam, told AFP.

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