4 laws of debt free prosperity

The EU official began implementing the transition period of the Carbon Border Adjustment Mechanism ( CBAM ) from October 1. As a result, iron and steel, cement, and fertiliser manufacturers in Vietnam are required to report total verified greenhouse gas (GHG) emissions embedded in goods exported to the EU. At an event on green steel production at the end of September, Nghiem Xuan Da, chairman of the Vietnam Steel Association, said that the country is taking the first steps to build a carbon-neutral roadmap for the steel industry. "Towards 2025, the steel industry aims to reduce GHG emissions by 10-30 per cent by optimising processes, energy, raw materials, and technology. In 2025-2030, the industry will use low-carbon materials and increase the amount of hydrogen gas in steel factories by 30 per cent," Da explained. Despite the ambition to reduce GHG emissions, the CBAM will pose a major challenge for Vietnamese steel exporters, according to Da. In the first six months of 2023, … [Read more...] about CBAM heralds new journey for sustainable energy use

Võ Trí Thành * Võ Trí Thành The General Statistics Office on Friday unveiled a comprehensive report on Việt Nam's socio-economic development for the third quarter and the first nine months of this year. The report demonstrates a less daunting economic landscape, albeit one that remains exceedingly challenging if the nation is to achieve the economic growth targets set by the National Assembly. As of the third quarter of 2023, Việt Nam's economy has traversed two-thirds of the year, yet the Gross Domestic Product (GDP) has only expanded by a modest 4.24 per cent in comparison to the same period last year. This growth rate, though higher than the rates recorded in the corresponding nine months of 2020 (2.19 per cent) and 2021 (1.57 per cent) during the 2011-23 period, falls short of the ambitious 6 per cent growth target set by the National Assembly for the whole year, let alone the more ambitious target set by the Government at 6.5 per cent. The economic recovery following the … [Read more...] about Việt Nam’s economic landscape at crossroads: Q3 reports highlight challenges in achieving targets

What have been some successful stories involving your members thus far in Vietnam? Tharabodee Serng-Adichaiwit, vice chairman of the Thai Chamber of Commerce in Vietnam Thailand has become the ninth-biggest foreign direct investment of Vietnam with nearly 690 projects and $13 billion so far. While Thai investment properly kicked off in the early 1990s here, Bangkok Bank started investment in Vietnam way back in 1961 with its first branch in the former Saigon. We believe that with the growing potential of Vietnam itself and our continuous promotion to Thai investors, one day Thai investment could enter the top five. This will also to help the two countries to achieve the bilateral trade goal of $25 billion by 2025, and ultimately bring our two countries closer in sub-regional, regional, and multinational cooperation. Most big Thai conglomerates already have a presence in Vietnam, such as C.P., SCG, Bangkok Bank, IVL, Red Bull, and more. Thai investment is also … [Read more...] about A land of promise for Thai investors