Growth service sector india

The two countries, which account for about 3/4 of Asia's power generation and most of its emissions, are also to a lesser extent using renewables to make up for the hydropower shortfall and address rising electricity use. Major Asian economies have faced power shortages in recent years due to extreme weather conditions, including intense heat and lower rainfall over large swathes of northern China and Vietnam, as well as in India's east and the north. Higher use of polluting fuels such as coal to meet electricity demand spikes and supply shortages underscore the challenges of lowering emissions. Asia's hydropower output fell 17.9% during the seven months through July, data from energy think tank Ember showed, while fossil fuel-fired power rose 4.5%. "Despite a strong growth in solar and wind power generation in Asia, supply from fossil-fuel thermal power plants has also increased this year as a result of a large decline in hydropower generation," said Carlos Torres Diaz, Rystad … [Read more...] about China, India lead Asia’s biggest hydropower crunch in decades

The banking sector assumes a vital role in introducing innovative financial instruments and suitable investment methodologies to enable Vietnam to achieve its net-zero emissions goal by 2050. The banking sector, as a key capital mobilization channel for the economy, is responsible for  “greening” investment capital flows for Vietnam to ensure the goal of sustainable development. Overview of the conference. Source: SBV Vice Governor of the State Bank of Vietnam Pham Thanh Ha made the remarks at a conference themed “Greening the Financial Sector: Accelerating transition to a low-carbon economy in Vietnam” held today [September 21]. According to Ha, Vietnam has historically maintained very low greenhouse gas (GHG) emissions. In absolute terms, Vietnam's GHG emissions reached 364 million tons of carbon dioxide (CO2) in 2018, constituting a mere 0.8% of the world's total emissions. However, over the past two decades, the country has experienced the fastest … [Read more...] about Greening finance accelerates Vietnam’s SDG implementation

Kim Dooyoon, CEO of JB Securities Vietnam What is your assessment of the financial landscape of the country, and how have you seized opportunities? In the last three years living and working in Vietnam, I have found that for Vietnamese business, the main source of financing is mostly from banks, and the capital markets are in the early stage compared to peer countries in Asia. As Vietnam's economy grows fast compared to other countries, I expect that its capital markets will also grow to meet the funding needs from the industries, based on my experience and study in Korea and the US. With this expectation, I have decided to focus on the debt capital market first since I joined JB Securities Vietnam (JBSV) three years ago. In particular, in the last two years, JBSV has advised corporate bond issuances and made commitments to invest more than 1 trillion VND. Thanks to our strong financial analytical skills and advanced risk management scheme on the bonds, JBSV has been … [Read more...] about JB Securities strives to contribute to development of Vietnam’s capital markets

How much will Japan work with Vietnam and ASEAN to help with the energy transition? Kinoshita Tadahiro, director general of Sojitz Vietnam and president of the Japanese Chamber of Commerce and Industry in Vietnam We highly appreciate the government and related ministries for the national green growth strategy, as well as the action plan on green energy transition and reducing carbon and methane emissions of the transportation sector. Completing the legal framework is an important factor to achieving this goal. In the context of increasing energy demand in Asian countries, the Japanese government is ready to cooperate with ASEAN countries in the energy transition process by providing more financial and technical support for testing and applying emission-reduction technologies. Accordingly, Japanese businesses wish to contribute to an effective energy transition in Vietnam by increasing private investment and applying deflation technologies, aiming to achieve … [Read more...] about Green-focused businesses ready for cooperation

Transit-Oriented Development (TOD) is vital to the Capital Region's sustainable development. As the draft of the amended Capital Law covers the development of the capital region, experts have written to The Hanoi Times to contribute to the early finalization of the draft. Assoc. Prof. Dr. To Van Hoa, Vice Rector of Hanoi Law University: T he Capital Region as a sustainable foundation for the capital and surrounding areas The Capital Region is what Hanoi aspires to grow into. The development of the Capital Region must facilitate the sustainable growth of the surrounding areas. The Thang Long Boulevard connects Hanoi with the provinces in the west and northwest. Photo: Pham Hung/The Hanoi Times The establishment of the capital region must attract the interest of neighboring provinces and cities, and the draft law must show them their potential benefits in participating in the socio-economic growth of the capital region. The draft of the … [Read more...] about Amended Capital Law: perfecting rules to boost Capital Region development

The selection of stocks based on strict criteria and risk management for the investment portfolio becomes particularly important. Currently, assessing the valuation and growth potential of individual companies and stocks is much more important than looking at the overall market valuation. — VNA/VNS Photo Multiple open-end funds have reported significant profits since the beginning of 2023, although last year many suffered losses or low profits due to market declines. Good Profitability Rates Many open-end funds have recorded higher rates of return compared to the market average. Among them, the VinaCapital-VESAF Fund recorded the highest rate with a 37% increase in profits, followed by SSISCA with a nearly 36 per cent increase, VCBF-MGF with 35 per cent, DCDS 34.8 per cent, DCBC 28.7 per cent, while the benchmark VN-Index only 20 per cent. Nguyễn Hoài Phương, the Investment Director and Fund Manager of VinaCapital-VESAF, stated that in the early months of 2023, the portfolio … [Read more...] about Multiple open-end funds record positive performance in 9 months

Attendees were keen to divulge their ideas on what is needed to fulfill Vietnam’s commitments, photo Le Toan Deputy Prime Minister Le Minh Khai said at the Ho Chi Minh City Economic Forum 2023 that green transformation and green growth may create many new opportunities but also require large resources for relevant technologies, efficiency, and to minimise production and waste treatment costs. Highly qualified human resources, both in terms of knowledge and skills, are also a key factor for businesses to implement green economic initiatives and solutions. “In addition to the role of banks and financial institutions, Vietnam needs the participation and cooperation of international financial organisations in mobilising green finance,” Khai said. The move towards renewable energy sources, green transportation, and a supply chain of green goods from production to consumption are creating many attractive cooperation opportunities for both domestic and foreign businesses, he … [Read more...] about Ho Chi Minh City urged to double down on green goals

Farmers are having to adapt to new methods, and experts are here to assist, photo Le Toan At last week’s seminar on Vietnam-Japan cooperation on green growth in Hanoi, a representative of the Ministry of Agriculture and Rural Development (MARD), said that Vietnam-Japan cooperation in agriculture could double or even triple in the coming decades. Nguyen Do Anh Tuan, general director of the MARD’s International Cooperation Department, highlighted some key areas for Vietnam, including improving plant varieties, high-tech production and processing, forest protection, capital investment and mitigating the effects of natural disasters. Some localities in the country have shown great interest in adopting Japan’s high school agriculture education model, which aims to provide agriculture knowledge to students along with high school-level general education. The model, which has been piloted in the northern province of Nam Dinh, has proven popular with students from across the country. … [Read more...] about Japan at fore of experience in agriculture

VASS President Dr. Phan Chi Hieu stressed that the building of smart urban areas is expected to bolster innovation and start-up, create jobs for young people, narrow income gap and promote digital economy. Besides, smart urban areas also aims to fully tap green energy sources, applies science to optimize resources while stepping up sustainable production and consumption. At COP26, Vietnamese Prime Minister Pham Minh Chinh pledged to achieve net zero greenhouse gas emissions by 2050, he said, adding that the government, ministries, sectors and localities have carried out action programs on green energy transition, carbon emission reduction and green growth. LASES President Dr. Sonethanou Thammavong shared that Laos has many projects on developing smart cities, digital transition and sustainable green growth to cope with climate change. Smart urban development needs to focus on human, particularly improving the life quality of people, he stressed. Meanwhile, RAC President … [Read more...] about Seminar shares international experiences in building smart cities

Vietnam ese Deputy Minister of Foreign Affairs Do Hung Viet. (Photo: VNA) New York (VNA) – Vietnamese Deputy Minister of Foreign Affairs Do Hung Viet attended the 16th Ministerial Meeting of the Global Governance Group (3G) held on the sidelines of the high-level week of the 78th United Nations General Assembly in New York on September 20 (local time). The meeting, chaired by the Singaporean Minister of Foreign Affairs, was attended by representatives of the Troika of the Group of Twenty (G20) (previous, current and incoming Presidencies), as represented by Indonesia, India, and Brazil, and 30 member states of the 3G. Participants emphasised cooperation priorities in the coming time, including promoting the role of multilateralism and international solidarity in association with more equal and effective reform of global governance mechanisms, creating new driving forces to implement the sustainable development goals (SDG) on time, and enhancing strategic cooperation … [Read more...] about Vietnam attends 16th Ministerial Meeting of Global Governance Group