Building schools in developing countries

Vietnam’s JETP plan must cover energy efficiency, storage, and more, photo Le Toan European Investment Bank (EIB) vice president Kris Peeters told VIR when he visited Vietnam last week that the non-profit credit institution and lending arm of the EU is eager to meet with partners in Vietnam to provide more green loans for environmentally friendly projects in various sectors from transport, water treatment, and smart urban development to renewable energy and infrastructure. “We have been providing loans for seven projects in Vietnam with total loans of €561 million ($602.8 million), and we hope the figure will double in the coming time,” Peeters said. Last year, the EIB invested over €70 billion ($75.2 billion) in many green projects worldwide. “We want to increase our investment portfolio and Vietnam is also on our priority list, as the country’s economy is going green, meaning the growing need for relevant projects in many sectors,” Peeters said. “Vietnam is an important … [Read more...] about Development banks extend role in green-related loans

Headquarters of the State Bank of Vietnam (Photo: VNA) Hanoi – The Bank for International Settlements (BIS) will continue to accompany and support the State Bank of Vietnam (SBV) in investing in payment and financial infrastructure development and promoting digital transformation, contributing to improving risk management in the local banking sector, stated BIS General Manager Agustin Carstens. Carstens made the statement at a meeting with Politburo member and Chairman of the Party Central Committee’s Economic Commission Tran Tuan Anh in Hanoi on September 21. Welcoming Carstens on his first visit to Vietnam as BIS General Manager, Tuan Anh thanked the organisation for its support for the SBV in joining and familiarising itself with BIS cooperation mechanisms. After three years of membership, the SBV has proactively participated in BIS activities and implemented its recommendations in the banking sector. He proposed that BIS continue to enhance its role in developing payment … [Read more...] about BIS pledges support for Vietnam in banking infrastructure development, digital transformation

Prime Minister Pham Minh Chinh has a seminar and a working dinner with leaders of multinational businesses and leading US investment funds in New York on September 21 (local time) (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh, who is in the US for the high-level week of the UN General Assembly’s 78th session, had a seminar and a working dinner with leaders of multinational businesses and leading US investment funds in New York on September 21 (local time). At the seminar, leaders of businesses and investment funds as well as Vietnamese State management agencies discussed measures and orientations to attract more financial resources for socio-economic development, especially the building and development of financial centres in Vietnam. Leaders of US investment funds held that amid fluctuations in the world geo-political and economic situation, Vietnam has been evaluated by international organisations as a bright spot in investment attraction with many … [Read more...] about US investment funds appreciate potential of Vietnam

Foreign Minister Bui Thanh Son (Photo: VNA) New York (VNA) – Foreign Minister Bui Thanh Son joined nearly 150 ministers and representatives from UN member countries at a preparatory ministerial meeting for the 2024 Summit of the Future in New York on September 21 (local time). At the meeting, ministers pointed to major difficulties and challenges currently, especially those related to climate change, environment, food security, energy, water resources as well as the decline in trust and multilateral cooperation. They were especially concerned as the Sustainable Development Goals (SDGs) have been completed by 14%, and believed that the 2024 Summit of the Future is significant in creating new catalysts to promote the implementation of the 2030 Agenda . The ministers shared their countries' vision and priorities for the summit, and reaffirmed their commitment to strengthening global governance and multilateralism, calling for respect for the basic principles of … [Read more...] about Vietnamese FM attends preparatory meeting for 2024 future summit, holds bilateral meetings

Hanoi should be empowered to stipulate regulations about its development. Dinh Tien Dung, Secretary of the Hanoi Party Committee, proposed that the revised Capital Law give Hanoi the power to set standards in line with practice in certain areas to ensure long-term security and safety. Secretary of the Hanoi Party Committee Dinh Tien Dung at the session. Photo: Quochoi Dung made the statement on September 20 at the session of the National Assembly Standing Committee in response to last week's tenement fire in Hanoi's Thanh Xuan District that claimed dozens of lives. Hanoi needs to be empowered At the session, Chairman of the National Assembly Vuong Dinh Hue said that the law is particularly important for the development of Hanoi . Therefore, it is necessary to continue to review and research to fully institutionalize policies for Hanoi's development as set out in the resolutions of the Politburo. Emphasizing that this is a law on decentralization of … [Read more...] about Amended Capital Law: Hanoi needs more power

Prime Minister Pham Minh Chinh (R) and US Special Presidential Envoy for Climate John Kerry (Photo: VNA) New York (VNA) – Prime Minister Pham Minh Chinh hosted US Special Presidential Envoy for Climate John Kerry, on the occasion of his visit to the US to attend the General Debate of the 78th session of the United Nations General Assembly. Both expressed their delight at the success of President Joe Biden's Vietnam visit, affirming that it has contributed to raising mutual understanding between the two countries, for the benefit of their people and for peace, stability and development in the region and the world. PM Chinh thanked and highly valued Kerry’s support in the successful arrangement of the visit and in the establishment of bilateral comprehensive strategic partnership. Discussing measures to quickly realise the important agreements reached during the visit, particularly those related to climate change response, he proposed that the US continue backing … [Read more...] about PM hosts US Special Presidential Envoy for Climate

A street in Vientiane capital of Laos. (Photo: AFP/VNA) Vientiane (VNA) – The Asian Development Bank (ADB) has revised down its growth forecast for the Lao economy in 2023 to 3.7%, from a 4.0% projection released in April. According to the Asian Development Outlook (ADO) September 2023, economic growth in Laos is forecast to be slower than expected due to weaker growth prospects in China, and macroeconomic pressures arising from unsustainable public debt and a weak Lao currency, the kip. The 2024 growth forecast was kept at 4.0%. Curbing inflation is among the main challenges to Laos. Though inflation decelerated in August to stand at 25.88%, down from 28.64% in June and 27.8% in July, the rate is still among the highest in the region. The Lao Statistics Bureau said the weak kip is one of the main drivers of inflation. Lao media cited ADB Country Director for Laos Sonomi Tanaka as saying that sound macro-economic management, including stronger coordination … [Read more...] about ADB lowers growth forecast for Lao economy this year

At the reception for Boeing leaders (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh hosted separate receptions in New York on September 21 for leaders of several US corporations as part of his trip to attend the high-level week of the UN General Assembly’s 78th session . During separate meetings with representatives from Apple Inc., Boeing Company, Google, Siemens Healthineers, the PM reiterated his commitment to create favourable conditions for US enterprises to operate effective business in Vietnam. Chinh suggested that Apple continue to expand investment in Vietnam, increase the local content and work as a bridge for US firms and Apple's partners to invest ịn Vietnam. He hoped that Apple will turn Vietnam into an important link in its supply and production chain. Meanwhile, he asked Boeing to expand its manufacturing and supply chain in Vietnam and early build its maintenance facility in the country while supporting Vietnamese partners in … [Read more...] about PM receives leaders of US enterprises in New York

This is the first year the CTO Summit Technology Leadership Conference has been organized at the annual AI event to honor enterprises with a technology-rich working environment. WD, Heineken, VNPT, FPT's representatives receive the award as the best technology environment enterprises at Vietnam Artificial Intelligence Day 2023 on September 22, 2023. Photo by VnExpress/Quynh Tran Launched in mid-July, the award received more than 50 nominations and 17 were shortlisted for the next round. FPT FPT is one of the pioneering enterprises in technology and digital transformation in Vietnam. The company has representative offices in 29 countries and territories. The group has invested trillions of dong to create comfortable office complexes and offices with utility ecosystems to meet employees' demand for working, entertainment, studying, and accommodation. One of FPT's unique cultures is the core staff training program, which helps young talents enhance their skills … [Read more...] about 6 Vietnam companies with exemplary technology environments in 2023

Lam Nguyen Hoang Thao, senior associate at law firm Russin & Vecchi The central provinces of Thanh Hoa and Nghe An are looking for the government’s green light to convert some coal-fired power projects into liquefied natural gas (LNG) -to-power one. How do you think this trend is panning out in Vietnam so far? I believe that the trend of converting coal-fired power to LNG-to-power plants in Vietnam is a very positive development. The Power Development Plan VIII (PDP8) called for a reduction in the use of coal and an increase in the use of cleaner fuels. The nation’s goal is to make the transition to green, renewable energy including solar, wind, biomass, ammonia, hydrogen, and nuclear energy. However, the road to reach these goals is still long and uncertain. Vietnam still has limited ability to supply energy from biomass and green ammonia due to the limitation of technology, expertise, and due to the related high production costs. Similarly, with hydrogen, the … [Read more...] about The key factors to take into account for switch to LNG