Dowduponts profit tops estimates on growing demand

The total support from GCF also includes a US$75 million guarantee. US$8.3 million from the grant will be used to build capacity in the private sector to identify, appraise and execute energy efficiency projects. It will also provide technical assistance to the Ministry of Industry and Trade and the relevant authorities to further strengthen policy frameworks and regulations and create a helpful environment aimed at accelerating the energy efficiency market in Vietnam. The remaining grant funds and guarantee will be used to establish a risk-share facility to provide partial credit guarantees to local banks who may risk potential default on loans for energy efficienct projects. By reducing lending risks, the facility is expected to mobilize around US$250 million of commercial financing, to be provided to industrial enterprises and energy service companies at competitive terms and with low collateral requirements. Scaling up energy efficiency is the single best and lowest cost option to achieve multiple goals at once: meeting energy demand, preventing pollution and reducing greenhouse gas emissions while also increasing industry competitiveness, Carolyn Turk, Country Director for Vietnam said. In a context of limited public financing for energy, the risk-share facility is an innovative financial instrument in private sector investment financing for a greater uptake of industry-wide energy efficiency measures, she added. The grant and guarantee are to be executed under the Vietnam Scaling up Energy Efficiency Project which aims to support Vietnam in achieving the energy efficiency targets set out in the Green Growth Strategy as well as emission reduction objectives pledged under the National Determined Contributions. The World Bank’s Low Carbon Study estimates that Vietnam could save up to 11 GW of new generation capacity by 2030 if comprehensive demand-side energy efficiency investment takes place. The energy efficiency investment need for key industries …

[Read more...] about Vietnam provided with US$86.3 million to boost energy efficiency investments

No measure of money can be exchanged for the mark of time. These trees, with a lifetime of over 1,000 years, are associated with national culture and history. Apitong tree dates back to Hung Kings Vietnam’s oldest tree has been carefully taken care of by authorities. Topping the list of longevity is the apitong tree, which holds the record for the oldest tree in Vietnam and is related to the sacred tale of Thien Co temple (Trung Vuong commune, Viet Tri city, Phu Tho province). According to scientists, the tree is more than 2,100 years old. Legend has it that the temple is located on the capital land of the ancient Van Lang country. This apitong tree, over the two millennia, has been a witness to the natural and social history of the locality with invaluable cultural and spiritual values. It was recognized as a Heritage Tree by Vietnam Association for Conservation of Nature and Environment (VACNE) on May 28, 2012. Thien Co temple worships the wedded couple, teacher Vu The Lang and Nguyen Thi Thuc, who raised Princesses Tien Dung and Ngoc Hoa, the offspring of 18th Hung Vuong King, as noted in ancient book entitled “Ngoc Pha Hung Vuong”. The pair was buried by the locals in the village, the temple was later built, and the tree was planted alongside at from that time. This is the oldest tree in Vietnam. The largest Cinnamomum camphora nationwide This tree was named a Vietnamese Heritage Tree on November 26, 2013. Giua villagers (Tien Luc commune, Lang Giang district, Bac Giang province) take great pride in the 1000-year-old Camphor tree which has a diameter of 2.59 meters, and is almost 30 meters high. Essential oils are present in all parts of the plant, making it an exceedingly rare breed. In addition, the tree roots contains safrol which is a valuable ingredient in food processing and cosmetic technology. This massive tree is recognized as one of the two largest Cinnamomum camphoras on the …

[Read more...] about Trees thousands of years old – treasures beyond price

Vietnam begins COVID-19 vaccination on March 8 Vietnam launches its COVID-19 inoculation drive on March 8 morning, administering the AstraZeneca vaccine to medical workers in Hanoi, Ho Chi Minh City and northern Hai Duong province – the country’s biggest pandemic hotspot at present. The vaccination is conducted at the Central Hospital for Tropical Diseases in Hanoi, the HCM City Hospital for Tropical Diseases and two medical centres in Hai Duong. As many as 100 staff members of the Central Hospital for Tropical Diseases are expected to receive the shots in the morning of March 8. The hospital is allocated 450 doses among the first batch of 117,600 doses of AstraZeneca vaccine the country has received. In Hai Duong, 50 medical workers at Hai Duong city’s medical centre, and 30 others at Kim Thanh district’s medical centre will be the first in the province to be injected. The Ministry of Health has allocated the vaccine to 13 localities, along with the Ministry of National Defence, the Ministry of Public Security and 21 hospitals during the first phase. Among the localities, all having reported COVID-19 cases since the latest wave of outbreaks since January 27, the Hanoi Centre for Disease Control (CDC) is given 8,000 doses, Hai Duong CDC 32,000, and HCM City CDC 8,000. Meanwhile, the Ministry of National Defence and the Ministry of Public Security each receive 30,000 doses. At a meeting on March 6, Health Minister Nguyen Thanh Long stressed the need to ensure equality in vaccine access as suggested by the WHO, UNICEF and COVAC. The localities excluded in the first phase should continue to prepare for the inoculation, with training programmes, he said, adding that they would receive the vaccine after the next shipment arrives in Vietnam in March. The ministry will roll out the vaccination in all COVID-19 treatment hospitals, prioritising those involved in frontline work, and those who participate in the pandemic combat in the community like …

[Read more...] about VIETNAM NEWS HEADLINES MARCH 8