HANOI ¨C Vietnam is battling electricity cuts caused by a heat wave that has exposed structural and bureaucratic problems limiting available power to half of installed capacity and crimping efforts to unlock $15.5 billion in global climate funding.
The manufacturing hub hosts large factories run by tech firms Samsung and Foxconn, among others, but has struggled to upgrade its grid, a key step to satisfy demand and lure companies diversifying from China and elsewhere.
¡°Many factories have had to suspend production due to severe power cuts, and the cuts are regular,¡± said Hong Sun, chairman of the Korean Chamber of Commerce in Vietnam.
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