Globalization can be a great opportunity

Seizing the opportunity laid out by its clean energy resources and phasing out coal could be key for Vietnam’s green growth path. Vietnam’s Prime Minister Pham Minh Chinh has set a deadline for sectors to build plans for their sustainable development within the first quarter (Q1) of this year as part of efforts to materialize the country’s sustainable development. Vietnam’s Prime Minister Pham Minh Chinh speaks at COP26 in Glasgow, the UK in November 2021. Photo: VNA The PM demanded in Q2 a comprehensive program to implement Vietnam’s net-zero target that he pledged at the 2021 United Nations Climate Change Conference in Glasgow (COP26) in November 2021. Accordingly, authorized agencies are tasked with eight issues, namely energy transition, reducing greenhouse gas emissions; lowering methane emissions; developing electric cars; planting forests to absorb carbon dioxide; building construction materials and urban development suitable for green and sustainable … [Read more...] about [Net-zero strategy] Which way is possible for Vietnam’s net zero journey?

Vietnam said all development decisions must be nature-based and centered around people to ensure sustainable development in which no one would be left behind. Vietnam, a developing country, has stressed the importance of an all-people approach in coping with a global issue – climate change – and its roadmap to achieve a net-zero target by 2050 it has declared. Overview of the workshop in Hanoi on Dec 7 chaired by Minister of Natural Resources and Environment Tran Hong Ha. Photo: Huong Giang/ UNDP The idea has been included in Prime Minister Pham Minh Chinh’s speech at the 2021 United Nations Climate Change Conference (COP26) held in Glasgow, the UK, in early November, as part of efforts to promote the engagement of all people in Vietnam in realizing its commitment at the global event, according to Pham Van Tan, Deputy Head of Vietnam’s Climate Negotiation Delegation. It’s interesting that Vietnam has stipulated the role of its people in the common drive, … [Read more...] about [Net-zero strategy] People-centered approach: Vietnam’s weapon to realize COP26 commitment

Digital payment service provider Visa announced earlier this week the launch of Visa Eco Benefits in the Asia-Pacific region in order to meet increasing demand for sustainable financial services. Eco Benefits is a suite of sustainability-focused solutions that will help Visa cardholders across the region better understand the environmental impact of their day-to-day payments, the multinational company said in a press release on Wednesday. They can calculate the carbon footprint generated by their Visa transactions, and access options for carbon offsetting or charitable donations from their bank’s website or app. Banks in Asia Pacific that sign up for Eco Benefits will be able to offer these solutions to their Visa cardholders and meet a growing demand for sustainable financial services. Sixty-six percent of consumers in the Asia-Pacific region expect their bank to offer eco-friendly payment solutions, according to a new Visa/YouGov survey. Over half (52 percent) would switch … [Read more...] about Visa launches eco-friendly payment solutions in Asia Pacific

At a meeting with the leader of the southern province of Binh Duong last week, chairman of Sharp Corporation Yoshihiro Hashimoto revealed an expansion plan in the locality. Investors already with factories in the country are demonstrating that they trust the business climate here, Photo: Le Toan Sharp Group is exploring opportunities in the southern provinces of Vietnam, including Binh Duong, to move the supply chain away from the Chinese market, promoting market diversification and distribution, according to Hashimoto. “In the coming time, Sharp will continue to expand and build one more large-scale factory, oriented to develop high-tech and advanced products,” he said. Binh Duong is assessed as a locality with an attractive investment environment, in line with Sharp’s criteria. The group has two production factories located in Vietnam, at Singapore Industrial Park (VSIP) I and an extended VSIP II. Sharp hopes to be supported in construction land, labour, and … [Read more...] about New foreign capital stutters despite overall deal boost

As Vietnam steps into the post-pandemic era, experiences and learnings from the pandemic serve as a reminder of the importance of digital transformation and its crucial technology component. Eunjung Han, consultant at Rouse Legal Vietnam and vice chair of the Digital Sector Committee of the European Chamber of Commerce in Vietnam Despite COVID-19’s negative economic and social impact, Vietnam remains an attractive destination to European investors. According to the European Chamber of Commerce (EuroCham) 2021 White Book, Vietnam’s stable macro-economic climate, with inflation in the single digits, continues to increase investor confidence in the country’s trade and investment environment. Only adding to that, the EU-Vietnam Free Trade Agreement (EVFTA) is paving the way for continued foreign direct investment (FDI) from the EU and is viewed as a means for shared recovery and economic rebound. As the first comprehensive FTA between the EU and a developing country in … [Read more...] about EVFTA underpinning growth in Vietnamese tech market

The Korea and Vietnam Economic and Cultural Association (KOVECA) and the Association for Liaison with Overseas Vietnamese, along with ministries and localities, last week jointly held two Vietnam-Korea cooperation forums in both the northern and southern regions with the participation of 30 associations and 50 enterprises from South Korea. PM Pham Minh Chinh greets representatives of the RoK's associations and businesses at the dialogue in Hanoi on July 30. (Photo: VNA) The associations and enterprises are looking for investment opportunities in terms of urban and transport infrastructure, hospitals, renewable energy, high-tech, and career training. Previously, in the framework of a conference connecting the northern province of Thai Binh and South Korea in early July by Thai Binh People’s Committee, coordinated with the Ministry of Foreign Affairs and the Korean Embassy to Vietnam, an investment registration certificate was granted to South Korea’s SMT Company for the … [Read more...] about South Korean investors lavish attention on Vietnam

Jumping from rock to rock to rock over a creek formed off Austria's Jamtal glacier, scientist Andrea Fischer worries that precious scientific data will be irreversibly lost as the snow and ice melt faster than ever. "I couldn't have imagined that it would ever melt as dramatically as this summer... Our 'archive' is melting away," says the glaciologist. Fischer -- vice director of the Institute for Interdisciplinary Mountain Research at the Austrian Academy of Sciences -- has spent more than 20 years surveying Jamtal and four other Alpine glaciers across Austria's highest peaks for the oldest areas of ice. For scientists looking to reconstruct the Earth's climate in the distant past, such ice formations are a unique time capsule stretching back thousands of years. The glaciers contain an invaluable treasure trove of data -- as they grew, the ice encapsulated twigs and leaves, which can now be carbon-dated, Fischer explains. And based on the age of such material and the depth … [Read more...] about Austrian scientists race to reveal melting glaciers’ secrets

A trader observing the market's movements on his computer. — Photo baodautu.vn After hitting a bottom of around 1,140 points in early July, the stock market had recovered for four straight sessions, with the benchmark VN-Index surpassing the threshold of 1,250 points. Notably, liquidity improved significantly last week and has now exceeded the recent 20-week average. This marked the second week of such an increase, showing that investors' interest is improving. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index ended the week at 1,252.74 points, down 0.11 per cent. Meanwhile, the HNX-Index on the Ha Noi Stock Exchange (HNX) closed higher, up 0.73 per cent to 299.9 points. For the week, the VN-Index rose by 3.85 per cent and the HNX-Index was up 3.91 per cent. Trading value on HOSE increased by 39.2 per cent from the previous week to VND83.1 trillion (US$3.5 billion), equivalent to a gain of 47 per cent in volume to more than 3.5 billion shares. On the northern bourse, … [Read more...] about Investors’ risk appetite continues to improve this week

State President Nguyen Xuan Phuc attended the event, while Party General Secretary Nguyen Phu Trong and former Party General Secretary Nong Duc Manh sent flower baskets to the celebration. Speaking at the event, Party Secretary of the Quang Nam provincial Party Committee Phan Viet Cuong recalled the life, glorious career, and great contribution of Comrade Vo Chi Cong to the nation’s revolutionary cause. In the resistance war against American imperialists, Comrade Vo Chi Cong was entrusted with many important positions. Comrade Vo Chi Cong was credited as the soul of revolutionary movement in Inter-region 5. He led troops and people in southern region, especially Inter-region 5, to build forces and defeat the U.S.’s “Special Warfare,” “Joint Warfare,” and “Vietnamization” strategies. In addition, Comrade Vo Chi Cong made numerous strategic recommendations on revolution path in the South for the Central. Especially, he closely followed the situational developments and advised the … [Read more...] about Comrade Vo Chi Cong’s 110th birth anniversary observed

Delegates attend the ceremony (Photo: VNA) Quang Nam (VNA) - The central province of Quang Nam held a ceremony on August 6 evening to commemorate the 1 10th birth anniversary of the late Chairman of the Council of State, Vo Chi Cong (August 7, 1912-2022). Attending the event were Politburo members: President Nguyen Xuan Phuc; Permanent member of the Secretariat of the Communist Party of Vietnam (CPV) Central Committee Vo Van Thuong, and President of the Ho Chi Minh National Academy of Politics and Chairman of the Central Theory Council Nguyen Xuan Thang, among others. Secretary of the provincial Party Committee Phan Viet Cuong said that the event was an opportunity to better understand Cong’s life, glorious career and great contributions to the nation’s revolutionary cause, thus helping today and future generations to study and follow his example in the cause of national building and safeguarding. Vo Chi Cong (1912 – 2011) once served as Politburo member, Permanent … [Read more...] about 110th birth anniversary of late Chairman of State Council Vo Chi Cong celebrated