How rooftop solar works

Sembcorp has made significant progress by growing its industrial property portfolio. How can its achievements be assessed? Charles Chong, head of Sembcorp Development in Vietnam Since Sembcorp started Vietnam Singapore Industrial Park (VSIP) in 1996, we have diversified our industrial property portfolio. With VSIP, we pioneered the integrated township and industrial park concept. In 2022, Sembcorp launched a new smart and sustainable VSIP and obtained a licence for our 12th VSIP, to be developed in the Mekong Delta city of Can Tho. Sembcorp has also completed ready-built warehouses in Haiphong city and Hai Duong province, both in the north. We are working with Vietnam in its industrialisation and urbanisation journey. We are proud that our projects have brought us closer to the Vietnamese people by generating good employment opportunities, catalysing growth in provinces, establishing communities in new places, and taking care of the disadvantaged in our communities. … [Read more...] about Sembcorp’s consistent sustainability

Benjamin Kreuz, general manager of Six Senses Ninh Van Bay Resort. Photo: Six Senses Ninh Van Bay Resort A breakdown of all the plastics used in our hotels worldwide identified that 80 per cent came from only 18 categories such as plastic cups, straws, or little napkin wraps. Today we are proud to be 95 per cent free of the 18 most unwanted items and with almost all single-use plastics being phased out of resort operations. Sustainability is one of the most important pillars of our business. As a whole group, we are following detailed and ambitious Sustainability Operation Guidelines, ensuring that we are looking at the immediate area where our hotels are based and making contributions to the local society around us. One of our core values is to be locally sensitive whilst displaying global sensibility. Highlights of our sustainable operations are our drive for renewable energy and our plastic-free campaign. Solar energy provides roughly thirty per cent of the total … [Read more...] about Sustainability at Ninh Van Bay

The keys to economic momentum. Photo: Shutterstock Michele Wee, CEO of Standard Chartered Vietnam “Maintaining macroeconomic stability” We expect the global economy to slow in 2023 as central banks around the world maintain restrictive monetary policies. We forecast modest global GDP growth of 2.5 per cent in 2023, slowing from an expected 3.4 per cent in 2022. The headwinds that have faced most economies in 2022 are likely to persist in the months ahead, however, we anticipate a recovery to take hold in the second half. Our recent global research report on Vietnam indicates that GDP growth is likely to remain strong in 2023. We still have a conviction about Vietnam’s high-growth potential over the medium term, expecting the growth rate to be 7.2 per cent in 2023 and 6.7 per cent in 2024. While macro indicators moderated somewhat in Q4/2022, they remain largely robust. Retail sales posted solid growth in the second half of 2022, implying improved … [Read more...] about The keys to economic momentum

Having been in your current role since 2017, what are some of your highlights, especially in Vietnam? I’ve thoroughly enjoyed every moment of working here, and it has clearly been the highlight of my 32-year professional career in the Ericsson world. The greatest honour and privilege has been the opportunity of working with the wonderful people of Ericsson and sharing time and experiences with the broader Vietnamese community. Denis Brunetti, president of Ericsson in Vietnam, Myanmar, Cambodia, and Laos As Ericsson celebrates 30 years here, I’m proud of our contribution to Vietnam’s prosperity and amazing rise as a pre-eminent global investment destination of choice for the international business community. Through the increased high-tech foreign investment focus, growing digital economy, and the many free trade agreements that Vietnam has implemented, the country has transformed itself into an economy and a country that is the pride of ASEAN and indeed the world. … [Read more...] about Ericsson’s commitment to supporting the digital transformation of Vietnam

Marko Walde - Chief representative Delegation of German Industry and Commerce in Vietnam (AHK Vietnam) Germany is Vietnam’s largest trading partner in the EU, and Vietnam has also become one of Germany’s largest trading partners in Southeast Asia. The European Union-Vietnam Free Trade Agreement (EVFTA), along with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, form part of a new generation of FTAs with a high level of trade and investment liberalisation. We expect German investors to increase investments based on the improved conditions and favourable environment in Vietnam. There will be many foreign direct investments flows for high-valued projects in Vietnam. With the EVFTA, Vietnam will benefit significantly from well-known German technology in management and training, more value-added production, and less material and resource waste. The EVFTA has shown Vietnam’s commitment to protecting people’s basic rights at work and in the environment. It … [Read more...] about Fresh German milestones to come

Vi, who has almost 20 years of experience working in the field of finance and investment credit, discussed credit financing for renewable energy initiatives, including wind and solar, at the event. She said the spectrum of electricity investment in Vietnam could be divided into three categories: foreign investors, Vietnamese corporate entities that can arrange credit with domestic and foreign banks, and businesses that have not yet had the opportunity to arrange capital but wish to. During 2017–2019, international investors could obtain capital inflows at a cost of around 4–5 per cent, but Vietnamese firms had to obtain capital from local banks at a cost of 11–15 per cent of total capital expenses. Therefore, local investors were pressured to invest much more than their international counterparts. In addition, Vietnamese organisations and businesses continue to need assistance in gaining access to credit, owing to the fact that international banks do not lend to local businesses … [Read more...] about Misleading to assert foreign firms dominate Vietnam’s energy sphere: expert

Much remains to be done for Vietnam to reach the goal of becoming a developed country by 2045, but it is moving in the right direction. After a difficult year and on the eve of the Year of the Cat, international experts told The Hanoi Times about Vietnam's economic performance and their expectations for the country ahead. Carolyn Turk, World Bank Country Director to Vietnam: Vietnam’s economy bounces back well Carolyn Turk, World Bank Country Director to Vietnam. We all recognize that Vietnam has bounced back very well, partly driven by rising demand from domestic consumption and investment. But behind the steady growth, I would say there are some concerns. It should be noted that Vietnam’s economy is driven by global demand, so a scenario of global economic slowdown would be a huge challenge. Vietnam has a foreign trade size of an estimated 200% of GDP, so it is an open economy, and we cannot dissociate the fortunes of Vietnam from … [Read more...] about Vietnam’s economic outlook through prism of int’l experts

In terms of support for economic growth, Japan and Vietnam have given high priority to the Ho Chi Minh City urban railway line 1, the Ben Thanh-Suoi Tien route. So far, all the trains have been transported to Vietnam, and the construction work is being accelerated so that the line can be put into service very soon. Shimizu Akira, Chief representative in Vietnam Japan International Cooperation Agency JICA is also cooperating with the Vietnamese government to realise the carbon-neutral energy supply, namely an onshore wind power project in Quang Tri province, which started operations in late 2021. We are also working on a solar power plant which will contribute to the energy transition to greener energy in Vietnam. Human resource (HR) development is recognised as the foundation for growth, as Vietnam Japan University has 260 graduates and over 130 new students enrolled. Furthermore, over 40 Vietnamese cadres, civil servants, and government employees are currently … [Read more...] about Rich Japanese cooperative culture set to continue

A multi-generational family lives in this penthouse overlooking the Saigon River in HCMC's Thu Duc City. The apartment's west-facing exterior, however, is extremely susceptible to solar glare. The architect's solution was to build two horizontal layers of space into the apartment, filling one with foliage to create an urban rainforest that blocks the light. The indoor plants also help moderate the interior temperature and humidity. The apartment has a tropical theme, with plenty of natural light and open spaces for both residents and visitors to enjoy. The colors and patterns used in this decorating style are reminiscent of the tranquility of an island surrounded by lush vegetation and fresh air. Tropical decor frequently features palm leaves or palm tree accents. Place a lot of tall palm plants inside to make it look like a tropical forest. With floor-to-ceiling glass door frames, this room is bathed in natural light and gives … [Read more...] about Jungle-inspired penthouse brings the tropics indoors

Venus Teoh (left), SABECO’s deputy general director for marketing, received the Inspirational Brand award Shares in SABECO have been a winner in recent times. On the local stock market, SABECO (code SAB) shares in the first week of 2023 saw three consecutive rises, reaching a high of VND183,500 ($7.90). The brewer attained bright financial prospects for 2022 thanks to the recovery of socioeconomic activities. Although it targeted $1.5 billion in net revenues and $200 million in after-tax profit for the year, a respective increase of 32 and 17 per cent on-year, SABECO accomplished 96.6 per cent of its profit goal in the first nine months alone. SABECO was one of the few firms in the Vietnamese stock exchange system to retain annual dividends last year due to its potential in the consumer sector, annual cash flows, and sizable cash reserves. In particular, the business paid a dividend of 35 per cent in both 2019 and 2020, and a similar payment was attained for 2021. Last year, … [Read more...] about SABECO thriving on 2022 results