Green growth

Henri Pierre Gebauer, team leader on economic governance and green growth at GIZ What is your assessment on Vietnam’s progress and the difficulties it could face when cultivating green economic policy? Vietnam has come a long way in implementing green fiscal instruments. On the revenue side, measures include the environmental protection tax and natural resources tax. On the expenditure side, a threshold of 1 per cent of the total annual state budget expenditure for environmental protection has been implemented since 2006. These instruments are supplemented by measures such as tax incentives for electric cars, lower tax rates for biofuel, preferential corporate income tax rates and exemptions for enterprises investing in environment and climate change mitigation technologies, and green credit policy. With the adoption of the National Green Growth Strategy in 2012, the government set an ambitious framework for the shift of the growth model towards a green economy. Implementation … [Read more...] about GIZ’s concepts support green growth reforms in Vietnam

Power from the regional and national grids is complemented by renewable energy generated on the spot The original development began with Dinh Vu IZ on the Dinh Vu Peninsula in Haiphong. From a deserted area mainly used for fishing, over the past 20 years, the peninsula has turned into a fully-functioning IZ with reliable state-of-the art utility systems. So far, it has attracted $3.7 billion in investment from 84 multinational companies and created more than 10,000 jobs directly and 50,000 indirectly. Both local and foreign businesses investing in Haiphong and the Deep C cluster are thriving. Tenants not only enjoy sustainable industrial development, but also benefit from Deep C’s prime location and good connectivity. Thanks to the success of Dinh Vu IZ – also known as Deep C I – the company has expanded to the south of Dinh Vu for Deep C II and to Cat Hai Island for Deep C III. This last Deep C installation is located next to Lach Huyen Deep Sea Port, adding … [Read more...] about Deep C turns to green growth to develop pioneer eco-park

Cat Tien National Park in Dong Nai province (Photo: tuyengiao.vn) Dong Nai province has strong advantages in industry, FDI attraction, and new rural development. But the its tourism growth remains modest against its potential when compared to neighboring localities like Vung Tau, Binh Thuan, and Lam Dong. Promoting eco-tourism is identified as a way for the province to find a foothold on the tourist map.   Most of Dong Nai’s tourist destinations are ecological site like Buu Long, Giang Dien Waterfall, Mo Stream, Cat Tien National Park, and Dong Nai nature and cultural reserve. A series of eco-tourism projects are under construction in the province. Nguyen Ngoc Thien Ly, a tourist from Ho Chi Minh City, said she visited Dong Nai during the weekend because it is not too far and the local eco-tourism is interesting. “There aren’t many ecological tourist areas in HCMC. Visiting Dong Nai, we can go sightseeing, take a river tour and try local food,” Ly … [Read more...] about Dong Nai develops sustainable, green tourism

Chairman of the People’s Committee of Ho Chi Minh City Nguyen Thanh Phong and German Consul General to the city Josefine Wallat (Source: https://www.sggp.org.vn) HCM City (VNA) - Chairman of the People’s Committee of Ho Chi Minh City Nguyen Thanh Phong and German Consul General to the city Josefine Wallat discussed ways to foster multifaceted cooperation between  the Vietnamese southern metropolis  and the European country during their meeting on September 30. Highlighting the fruitful cooperation between the two countries in various fields, the municipal leader said that HCM City is focusing on infrastructure development, energy, and green growth with a goal of becoming a financial hub in the region. He hoped that with her bridging role of the Consul General, Wallat will call on and guide German enterprises to land their investments in the city. Phong pledged to create favourable conditions for German firms and the Consulate General to operate effectively in … [Read more...] about HCM City, Germany look to boost multifaceted cooperation

The Bank of Thailand feels upbeat about the country's economic growth in Q3. (Photo: bangkokpost.com) Bangkok (VNA) – Thailand’s economic growth in the third quarter is likely to improve from the second quarter’s reading, mainly thanks to positive tourism growth and the government’s economic stimulus measures, according to the Bank of Thailand. Senior Director at the BoT’s macroeconomic and monetary policy department Don Nakornthab said GDP growth in the third quarter is expected to surpass 2.3 percent, which was recorded in the second quarter, and the economic expansion was supported by the government’s stimulus package, growth in the tourism sector and exports. Thailand’s economy grew at the slowest pace in almost five years in the second quarter as exports and tourism deteriorated, buffeted by the US-China trade tensions and the strong Thai baht. GDP rose 2.3 percent from a year ago, down from 2.8 percent in the first quarter, the … [Read more...] about Bank of Thailand upbeat about economic growth in Q3