Building climate scenario analysis on the foundations of economic research

The energy transition in Vietnam is tied to the rapid growth of the economy, urbanisation, and industrialisation. We have seen the strong aspiration of the government to speed up the energy transition while meeting the requirements of economic development and the goal of becoming a high-income country by 2045. Energy transition is more seen as a potential engine for employment, and this trend will likely grow, helping to build support for renewables. John Rockhold, head of the Power and Energy Working Group under the Vietnam Business Forum Fossil energy sources are gradually being replaced by green and clean energy sources, reducing greenhouse gas emissions and combating climate change, while Vietnam is one of the first countries to renew its nationally determined contribution to the United Nations Framework Convention on Climate Change in 2020. The roadmap for the country’s transition process towards green and sustainable development will not only need to ensure … [Read more...] about Displaying readiness for the energy transition in Vietnam

Vietnamese Prime Minister Pham Minh Chinh met the U.S.-ASEAN Business Council (USABC) delegation at the Government Headquarters on March 22. The attendees were leaders of the Government Office and the ministries of Planning and Investment, Industry and Trade, Foreign Affairs, Finance, Transport, Information and Communication, Health, Agriculture and Rural Development, Culture - Sports and Tourism. Also in attendance were the State Bank of Vietnam, the U.S.-ASEAN Business Council President and CEO Ted Osius, the U.S. Ambassador in Vietnam Marc E. Knapper. The leaders of more than 50 leading enterprises in the U.S. and the world were there too, including AES, Netflix, Boeing, Apple, Coca-Cola, Pfizer, Abbott, Visa, Citibank, Meta, Ford, and FedEx Express. The Prime Minister welcomed the USABC and the U.S. business delegation to Vietnam, and the delegation members joined a frank, sincere and effective working session with Vietnamese agencies. This is a continuation of previous … [Read more...] about Vietnamese Prime Minister receives delegation of the US-ASEAN Business Council

The Nordic Embassies in Vietnam (Denmark, Finland, Norway, and Sweden), have co-operated with the Ho Chi Minh National Academy of Politics to share their experiences on green solutions for circular economy and waste management and policy implications for Vietnam at a seminar held on March 23 in Hanoi. The Nordic Embassies in Vietnam share their experiences on green solutions for circular economy and waste management and policy implications for Vietnam at a seminar held on March 23 in Hanoi. The event, which was held in honor of Nordic Day 2023, aims to provide insight into Nordic policies, initiatives, and innovation in green transition, which can be relevant and applicable to Vietnam in eliminating waste and pollution, circulating products, and regenerating nature. Organised for the fifth time, the event is attended by policymakers from central and local government agencies; representatives from chambers of commerce; business leaders, startups, innovators; … [Read more...] about Nordic countries share solutions for circular economy and waste management

The event, entitled “Offshore Renewable Energy: Opportunities and Challenges to Green Transition,” drew the virtual and in-person participation of more than 200 domestic and foreign experts. It was jointly organized by the Diplomatic Academy of Vietnam (DAV) and the Konrad Adenauer Stiftung Foundation (KAS). In his remarks, Assistant to Foreign Minister Nguyen Minh Vu expressed optimism about the development of renewable energy in general and wind power in particular. In the long term, offshore wind power will be cheaper than current fossil fuel-based energy sources, he said, adding that other types of offshore renewable energy are also becoming indispensable elements of the modern, blue economy. Vietnam is committed to joining the common effort of mankind to promote clean energy, as demonstrated through its commitments at the 26th U.N. Climate Change Conference of the Parties (COP26) and the Just Energy Transition Partnership (JETP), the official said. Vietnam is an attractive … [Read more...] about Ocean dialogue discusses offshore renewable energy potential

In December, the EU officially approved a directive for companies to pay a minimum tax rate of 15 per cent from 2024. Our neighbouring markets such as Malaysia, Singapore, and Hong Kong are heading towards the official application of GMT policy from 2024 or 2025. Thomas McClelland - Country tax leader Deloitte Vietnam Countries with foreign investment in Vietnam, like South Korea and Japan, will implement new tax policies or announce a draft tax reform, moving towards the application of the GMT from the fiscal year 2024. The impact of the policy on Vietnam is clear and urgent, and requires the authorities to take timely action before it is too late. Firstly, to protect tax collection, Vietnam could consider the immediate solution of implementing a qualified domestic minimum top-up tax to gain the right to collect the top-up tax rather than the tax going to another country. This mechanism can simply be understood as a domestic mechanism in which the calculation of … [Read more...] about Vietnam must revisit policies to develop implementation of global minimum tax