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Vietnamese PM Pham Minh Chinh (R) and Brazilian President Luiz Inacio Lula da Silva meet in Brasilia on September 25. (Photo: VNA) Brasilia (VNA) – Prime Minister Pham Minh Chinh and Brazil ian President Luiz Inacio Lula da Silva held talks in Brasilia on September 25 (Brazil time) as part of the Vietnamese leader’s official visit to the South American country. Welcoming PM Chinh and the high-ranking delegation of Vietnam, the Brazilian President expressed his belief that the visit will help develop the two countries’ traditional friendship and sound cooperation to a new height, thus actively contributing to peace, stability, and development in the two regions and the world. PM Chinh voiced his delight at the growing Vietnam - Brazil relations and stressed that Vietnam attaches importance to the ties with Brazil, one of its leading partners in Latin America. The two leaders noted with satisfaction that bilateral relations have been flourishing and becoming … [Read more...] about Vietnamese PM, Brazilian President discuss measures for augmenting ties

Keijo Norvanto, Ambassador of Finland to Vietnam On behalf of the Embassy of Finland to Vietnam and the Finnish business communities in Vietnam, I would like to congratulate Vietnam Investment Review on its 32 nd anniversary. I would like to express our appreciation to the VIR editors and its dedicated and talented reporters for their continuous work, introducing the Vietnam business environment and opportunities to Finnish businesses. Moreover, VIR ’s continuous cooperation with us provides the audience with Finnish experiences and know-how in education, circular economy, and other advanced technologies. The Vietnamese government committed to net-zero by 2050 and recently joined the Just Energy Transition Partnership declaration that aims to contribute to Vietnam’s sustainable development. In that, Finland possesses globally competitive technology and expertise in many areas, which will help Vietnam achieve the country-set targets. Additionally, our proven … [Read more...] about Defining the role of the press in business

At the panel discussion, entitled “Promoting Nature Positive Business and Green Growth through Practicing ESG in Businesses,” held as part of the 2023 Vietnam Corporate Sustainability Forum in Hanoi on August 23. (Photo: VietnamPlus) Hanoi (VNA) - Transitioning to a sustainable business model with reduced carbon emissions is the optimal solution for companies facing environmental protection challenges and climate change adaptation. This requires businesses to innovate through smart solutions and efficient resource utilisation. This was a topic of discussion at the 2023 Vietnam Corporate Sustainability Forum (VCSF) held in Hanoi on August 23, one of the most important dialogues between the Vietnamese government and business community to promote sustainable development. Themed “Global Green Race: From Strategy to Execution of Sustainable Business,” the annual event that began in 2014 was co-organised by the Vietnam Chamber of Commerce and Industry (VCCI) and the … [Read more...] about Firms ready to switch to low-carbon economic model

National Assembly Chairman Vuong Dinh Hue (L) and his Bulgarian counterpart Rosen Zhelyazkov (Photo: VNA) Sofia (VNA) – National Assembly Chairman Vuong Dinh Hue and his Bulgarian counterpart Rosen Zhelyazkov met the press on September 25 (local time) to announce the outcomes of their successful talks in Sofia. Chairman Hue said the two leaders extensively discussed orientations and measures to consolidate friendship and improve the efficiency of their cooperation via the Party, Government, National Assembly, people-to-people exchange channels. They agreed to step up collaboration in economy, trade, investment, culture, sci-tech, education and training, labour and people-to-people exchanges, business-to-business and locality-to-locality cooperation. Hue hailed and thanked the Bulgarian legislature for its recent approval of the EU-Vietnam Investment Protection Agreement (EVIPA) with an absolute majority of votes, just ahead of his visit. Along with promoting the … [Read more...] about Top Vietnamese, Bulgarian legislators inform outcomes of talks to media

Wealthy countries must now reach carbon neutrality in around 2045, five years early, and China should speed up by a decade to 2050 to keep to the Paris goal of limiting warming to 1.5 degrees Celsius above pre-industrial levels, the IEA said. "The world has already delayed too long to avoid hard choices," the global energy watchdog said. The report, which comes ahead of crunch UN climate talks, updates the IEA's landmark 2021 "Net Zero Roadmap", which said new fossil fuel development was incompatible with global decarbonization by mid-century. IEA chief Fatih Birol said he was more "hopeful" now than two years ago, thanks to record growth in solar power capacity and electric car sales in line with the IEA's pathway to net-zero emissions. He praised "very impressive" policies in the United States, Europe, China, and India that have helped drive clean energy investment up 40 percent to $1.8 trillion this year. But he added that to reach net zero this needs to reach $4.5 … [Read more...] about Rich nations, China must accelerate race to net zero: IEA

At the meeting. — Photo courtesy of Petrovietnam Vietnam National Oil and Gas Group (Petrovietnam) is actively pursuing strategies to ensure the continuity of oil and gas production in 2023 in the face of various challenges in its production and business operations. This becomes especially crucial as many of Việt Nam's key oil fields are experiencing natural declines, and several member units lack the capacity for substantial investments in new mining ventures. According to Petrovietnam, the current market supply and demand conditions have exhibited several shortcomings since the beginning of the year. These include a low capacity to mobilise electricity, resulting in significantly lower gas production than planned and in comparison to previous periods. Consequently, there is an excess of gas production, which has repercussions on the targets for crude oil production. Additionally, it hampers the achievement of long-term reserve increases and planned production expansions for … [Read more...] about Petrovietnam pushes initiatives to sustain oil and gas production

Both Hanoi and Shanghai expect to lure more tech developers to the city. The Hanoi Ancillary Industry Business Association (HANSIBA) and N&G Group on September 26 validated an agreement with the Shanghai business delegation. The signing ceremony between HANSIBA, N&G Group, and the Shanghai business delegation. Photo: Khac Kien/The Hanoi Times Under the agreement, the companies in Vietnam and China will proceed with all administrative procedures and bring their production lines into operation in 2024, thus benefiting both sides. The three parties will work towards developing a Vietnam-China technology complex and begin with the setup of a Hanoi-Shanghai facility in the second zone of the Hanoi Southern Supporting Industrial Park (HANSSIP). The complex, called Techno Park, will be of international standards. It is designed to accomplish the 17 sustainable development goals eyed by the United Nations. The complex will draw Chinese and … [Read more...] about Hanoi, Shanghai businesses agree to build high-tech complexes

According to the latest report of UOB, after starting off the year at a sluggish pace, with real GDP growth in Q1 decelerating to 3.28 per cent on-year, from 5.92 per cent in the previous quarter, growth momentum in Vietnam remained lethargic, largely due to weak external demand coupled with an underperforming manufacturing sector. As a result, economic growth in Q2 expanded just 4.14 per cent on-year, for a cumulative growth rate of 3.72 per cent on-year in H1, well below the official growth target of 6.5 per cent. In terms of sectoral performance, manufacturing (including construction), which accounts for about 34 per cent share of the economy, managed to gain about 1.1 per cent on-year in Q2 with a positive contribution in H1. Meanwhile, the services sector (43 per cent share) managed to cushion some of the weaknesses from the external sector, rising 6.1 per cent on-year in Q2 following the 6.6 per cent on-year run in Q1. The services sector contributed 2.7 percentage points, … [Read more...] about Soft momentum likely for Q3: UOB

According to data from the Indonesia’s Ministry of Investment, the first quarter FDI, which excludes investment in the banking and oil and gas sectors, was worth 177 trillion IDR (11.96 billion USD), up 43.3% compared to the last quarter of 2022. Investment Minister Bahlil Lahadalia said that FDI in the manufacturing sector, especially the metal industry, in Q1 ranked first, which showed the government policy to give added value on natural resources has had a positive impact. Indonesia is due to ban the export of raw minerals like copper and bauxite from June as part of efforts to attract investment into its metals processing industry and boost the value of its exports. Singapore, China’s Hong Kong, and China provided the largest share of the FDI in the first quarter with investment of 4.3 billion USD, 1.5 billion USD and 1.2 billion USD, respectively, according to the ministry’s data. At a news conference, Bahlil said challenges to achieve the investment target included a … [Read more...] about Indonesia’s Q1 FDI hikes over 20%

According to research by the World Health Organization, for every $1 spent on early childhood development interventions, the return on investment can be as high as $13. Therefore, investing in the development of the younger generation is a cost-effective way to promote shared prosperity, economic growth, and expand equal opportunities. Shinhan Life aims to build a sustainable future for the next generation of Vietnam Sharing this common perspective, Shinhan Life has been integrating business development with social responsibility since its inception in the Vietnamese market. In addition to charity programmes and support for the basic needs of underprivileged children, the company has collaborated to implement long-term educational programmes aimed at comprehensive child development, enabling them to lead fulfilling lives and become valuable citizens for society, thus promoting Vietnam's sustainable future. Supporting nearly 19,000 in treatment costs for … [Read more...] about Shinhan Life promotes sustainable development for future generation of Vietnam