Competition

The events, hosted by Vietnam, will see nine other members of the Association of Southeast Asian Nations (ASEAN) participate, Timor-Leste as an observer, and three partner countries – Japan, the Republic of Korea, and China, the Vietnamese Ministry of Information and Communications (MIC) told a press conference in Da Nang on September 18. The meetings, themed “Media: From Information to Knowledge for a Resilient and Responsive ASEAN,” will discuss orientations for the ASEAN cooperation in information and communications. They will also develop a cooperation mechanism for coping with fake news in the internet, the promotion of digital transformation in the press and communication sector, application of modern technologies to the sector, and the promotion of information provision across ASEAN and for the dialogue countries, the MIC said. MIC Deputy Minister Nguyen Thanh Lam said traditional forms of media are facing strong competition from new ones which are completely changing … [Read more...] about ASEAN, ASEAN+3 Information Ministers to gather in Da Nang

Addressing a press conference on September 19, Vice Director of the department Le Thi Thuc said a Da Nang – Seoul innovation space will be launched at the event, aiming to connect the innovation startup ecosystems of Da Nang and the Korean city. At this event, at least 10 potential startup projects and five scientific and technological solutions will be presented, targeting to connect the supply and demand between startups and investors. Domestic and international speakers and experts will join together in seminars on building Da Nang into an innovative city, attracting capital inflows for innovative start-ups, and boosting international integration of the local innovation startup ecosystem in the context of globalization, Thuc said. Furthermore, a number of other programs and events will be organized in the framework of the SURF 2023, including an innovation startup exhibition using a virtual reality platform with about 100 participating booths, and an innovation startup … [Read more...] about Da Nang Startup and Innovation Festival slated for late September

Speaking at the 2023 Vietnam Economic Forum on September 19, Thanh said, “To achieve a green economic transition and boost renewable energy, electricity prices must fully reflect production costs.” According to Thanh, there has been an influx of new energy sources, many of which are costlier than the current average electricity price. As a rough estimate, if the cost of renewable energy stands between 5-7 US cents per kWh, with the addition of transmission costs, the retail price should rise to 10-12 US cents per kWh. Currently, the average retail price hovers around 8.1 US cents per kWh. This suggests the need for an upward revision, taking the new production costs into consideration. "Naturally, the idea of raising electricity prices will receive pushback. However, without a clear roadmap for such price hikes, transitioning to renewable energy becomes unfeasible," Thanh said, adding, "Energy pricing needs to be more reflective of economic and societal costs. Such measures could … [Read more...] about Electricity prices must reflect production costs for green transition

Myriad of incentives made in order to tempt office tenants, illustration photo/ Source: freepik.com Hoai Nam, founder of media startup 4-Star, based in Ho Chi Minh City with less than 10 employees, last month received a notice of incentives for services such as extra meeting room hours, and more printing and photocopying credits at his co-company’s working space in District 4. Each month, Nam pays VND3 million ($125) per person excluding taxes and fees for his work location in District 4. The rate was reduced by 25 per cent two years ago. “With the same space, it cost $333 per person in District 1, and I could not afford it. Everyone is cutting costs as it is such a difficult time,” Nam said. In addition to reducing rates, Nam said her landlord was improving facilities and service incentives, so that tenants could extend their contract for a longer term. For example, more greenery is being arranged between desks, and free parking is now offered. Knight Frank Vietnam in … [Read more...] about Myriad of incentives made in order to tempt office tenants

Giants lead green packaging future, illustration photo/ Source: freepik.com About 450 businesses from more than 30 countries and territories will gather for the 16th edition of ProPak in Ho Chi Minh City in November to establish a panorama of equipment and new technology in future food processing and packaging. The exhibition will offer a dynamic business platform that is shaping the future of the processing and packaging industries, particularly in an industry closely impacting the environment like packaging. Food packaging currently accounts for 30-50 per cent of the total packaging industry space, according to statistics from the Ministry of Industry and Trade, leading to a strong symbiotic relationship between the two fields of food and packaging. According to German data provider Statista, the packaging sector has been growing on-year with an average rate of 15-20 per cent, in parallel with the average increase of about 10 per cent of the food and beverages market over … [Read more...] about Giants lead green packaging future

Green-certified office buildings on the rise, Photo: Shutterstock Standard Chartered Bank Vietnam’s head office in Hanoi was the latest to be awarded LEED Gold certification at the beginning of September, demonstrating the bank’s commitment to sustainability and delivering the most environmentally conscious design. The bank has fulfilled the standards set by the LEED Green Building rating system of the US Green Building Council (USGBC). The verification includes a range of factors including energy efficiency, human health and wellbeing, water conservation, indoor environmental quality, sustainable and regenerative material cycles, and active community engagement. Michele Wee, CEO of Standard Chartered Bank (Vietnam), said that certification reflected the bank’s shared values and commitment to crafting spaces that excel in functionality while minimising ecological footprint. “Standard Chartered commits to continuing to drive sustainable economic growth, embrace responsible … [Read more...] about Green-certified office buildings on the rise

Photo: Duc Thanh In the working session between Chairwoman of Bac Ninh People’s Committee Nguyen Huong Giang and Goertek Group on September 12, the leader of Goertek reported on construction progress of its third plant located in Nam Son-Hap Linh Industrial Park. According to Goertek, one of Apple’s largest acoustic products suppliers, the construction of this third facility is accelerating. To prepare for the operation, the corporation is continuously placing notices on the recruitment information on its website as well as at online job fairs. The $300-million factory in Nam Son-Hap Linh Industrial Park, which will produce consumer electronics, communication equipment, and optical equipment, will go into operation in April 2024, with the total recruitment demand up to 50,000 people. Foxconn and Luxshare ICT Vietnam have simplified recruitment procedures and offer competitive incomes to employ a large volume of employees. Nguyet Ha, HR staff of Foxconn Quang Chau, said … [Read more...] about Recruitment soaring in tech titan positions

The International Finance Corporation (IFC), a member of the World Bank Group, announced on Tuesday that it is investing up to VND3.5 trillion (US$150 million) in Vietnam's first-ever local currency sustainability-linked bonds (SLBs) issued by BIM Land Joint Stock Company and its subsidiary, Thanh Xuan Joint Stock Company. The first local currency SLBs in Vietnam aim to help issuers expand their businesses while creating jobs, boosting competitiveness, and supporting the country's low-carbon growth model. IFC's investment comprises two subscriptions—over VND2.3 trillion (about $100 million) to be issued by BIM Land, a tourism and property developer in Vietnam, and nearly VND1.2 trillion (about $50 million) to be issued by Thanh Xuan Joint Stock Company. Both the issuers are subsidiaries of BIM Group, a multi-sector corporation in Vietnam. The proceeds will be used to develop the Thanh Xuan valley project in northern Vinh Phuc Province, including an eco-friendly and unique … [Read more...] about IFC invests in Vietnam’s first local currency sustainability bonds