Decarbonization

JBIC Chairman Tadashi Maeda revealed the plan at an Indo-Pacific business forum in Tokyo on January 12, NHK reported. JBIC, together with the US International Development Finance Corporation, and Export Finance Australia, will launch a new framework for support. In consultation with the Vietnamese Government, they will help the Southeast Asian nation switch to thermal plants fueled by liquefied natural gas and expand the use of renewable energy. They also aim to create business opportunities by introducing technologies for decarbonization. Vietnam has set a goal of achieving net-zero emissions by 2050. However, it faces the difficult challenge of maintaining economic growth while reducing its reliance on coal for power generation, according to NHK. Source: VNA … [Read more...] about Japan, U.S., Australia to assist Vietnam in decarbonization

Much remains to be done for Vietnam to reach the goal of becoming a developed country by 2045, but it is moving in the right direction. After a difficult year and on the eve of the Year of the Cat, international experts told The Hanoi Times about Vietnam's economic performance and their expectations for the country ahead. Carolyn Turk, World Bank Country Director to Vietnam: Vietnam’s economy bounces back well Carolyn Turk, World Bank Country Director to Vietnam. We all recognize that Vietnam has bounced back very well, partly driven by rising demand from domestic consumption and investment. But behind the steady growth, I would say there are some concerns. It should be noted that Vietnam’s economy is driven by global demand, so a scenario of global economic slowdown would be a huge challenge. Vietnam has a foreign trade size of an estimated 200% of GDP, so it is an open economy, and we cannot dissociate the fortunes of Vietnam from … [Read more...] about Vietnam’s economic outlook through prism of int’l experts