How voluntary carbon markets can drive climate ambition

Greener trade and investment is crucial to tackling climate change in Asia and the Pacific and will require governments in the region to work together more closely, according to a new report by the Asian Development Bank (ADB). While trade and investment have fueled remarkable economic growth in Asia in recent decades, it has also led to large increases in carbon dioxide emissions in the region—which is more vulnerable to the effects of climate change than any other. Reversing this trend will require measures such as promoting trade in environmental goods and services, nurturing green businesses, developing carbon pricing mechanisms, and strengthening regional cooperation through trade and investment agreements, according to the Asian Economic Integration Report (AEIR) 2023, released by ADB today. “Asia and the Pacific’s remarkable growth has lifted millions of people out of poverty, but this has come at an environmental cost,” said ADB Chief Economist Albert Park. “The region now … [Read more...] about Sustainable trade and investment key to Asia and Pacific’s green future

Vietnamese people's cultural and human values should be central to the capital’s industrialization process. Hanoi aims to spearhead the nation's industrialization and modernization until 2030, with an eye on 2045. Hanoi has seen major transformation over the years. Photo: Pham Hung According to the municipal Party Committee, the goal of the plan is to transform the mindset and build consensus in the political system and people to achieve socioeconomic development objectives. The Party Committee emphasized the use of science-technology and innovation, specifically Industry 4.0 advancements, as a key solution for the country’s modernization in the 2021-2030 period. “This would help Vietnam to make breakthroughs in productivity and improve the economy's competitiveness,” stated the plan. For Hanoi, the plan identifies key targets for economic growth, enhancing socio-cultural values, urban development, and environmental protection. By 2030, Hanoi and other … [Read more...] about Hanoi to spearhead the nation’s industrialization efforts until 2030

Dr. Pham Nguyen Anh Huy - Founder, RMIT FinTech-Crypto Hub Many crypto projects, especially GameFi, move-to-earn, the metaverse, and Web3, were launched in such an environment which helped boost national innovation and drive the digital economy. However, the lack of a regulatory framework has led to several issues, such as the lack of investor protection if they get scammed; the difficulty of tracing crypto-related fraudulent and criminal activities such as money laundering; a volatile business environment; and the inability of the tax authority to collect taxes from crypto-related activities. Eventually, these issues may dampen market confidence and make Vietnam less attractive, especially when the hype is over. Given the get-rich-quick mindset of most Vietnamese crypto investors coupled with the lack of a regulatory framework, it is not surprising that Vietnam is one of the most active crypto trading hubs in the world, ranking second in peer-to-peer exchange trade volume … [Read more...] about Regulatory framework needed to boost Vietnam’s crypto scene

The awards ceremony of the Zayed Sustainability Prize. — Photo Courtesy Zayed Sustainability Prize The Zayed Sustainability Prize has announced that the 2024 cycle is now open for submissions for candidates from all over the world, including Viet Nam. The prize, which accepts submissions until May 2 through the prize’s online portal, is the UAE’s pioneering global award for recognising excellence in sustainability. Small to medium-sized enterprises, non-profit organisations and high schools with sustainability solutions are invited to submit an entry for consideration in one of the five categories of health, food, energy, water and global high schools. The prize’s US$3 million fund rewards winners US$600,000 in each category. The global high schools category is split into six world regions, with each school able to claim up to $100,000 to start or further expand their project. The Zayed sustainability prize has a three-stage evaluation process, beginning with the due … [Read more...] about Zayed Sustainability Prize opens submissions for 2024 cycle

Nguyen Hoang Trung, CEO of one of only two delivery startups in Vietnam, told VnExpress that Loship suffers "very little" loss. Last year its revenues increased by 500% thanks to business optimization with 250,000 locations and more than five million customers. It expects to turn profitable this year. Losing money is the norm in the food delivery and ride-hailing industry. As of 2021, Grab Vietnam had chalked up cumulative losses of VND4.365 trillion (US$186 million). Gojek is also VND4 trillion in the red. Both incur huge selling expenses running ino trillions of dong. Nguyen Hoang Trung, CEO of Loship. Photo by VnExpress/Quynh Nhu This year the industry faces pressure from rising fuel prices. Trung said all other apps are also affected by Regarding the increase in gasoline price, this but "honestly not too much". When the Russia-Ukraine war took place, it was a nightmare in the beginning. But so far, the gas price has not changed too much and it’s … [Read more...] about Vietnamese delivery app on the brink of turning profitable

Businesses in Southeast Asia region outsource security functions to managed security service providers mainly to achieve efficiency in delivering security solutions, and address the shortage of IT employees. — Photo courtesy of Kaspersky The managed security service provider (MSSP) market in Southeast Asia is expected to enjoy steady growth in the coming years due to the region’s collective push towards countrywide digital transformation initiatives, according to experts. A managed security service provider provides outsourced monitoring and management of security devices and systems. Southeast Asia remains the fastest growing digital economy in the Asia Pacific region. Governments here have been taking bold steps to support local digitalisation efforts and to also beef up the country’s data protection and cybersecurity capabilities, said Kaspersky general manager for Southeast Asia Yeo Siang Tiong. “As local businesses here embrace digital transformation, it is parallel to … [Read more...] about Managed security provides efficiency, solutions for IT talent gap for businesses

Nguyen Minh Tuan, Founder of TOPI The risk of a world economic recession is reflected in the average GDP growth forecast of only 1.6-2.2 per cent, of which the US accounts for 0.5-1 per cent, the EU -0.5-0.2 per cent, and China 4-4.5 per cent. After plenty of efforts by central banks inflation has cooled down, but is still high. The common global inflation forecast in 2023 is 6.5-6.6 per cent, which is in line with forecasts from the International Monetary Fund and the Organisation for Economic Co-operation and Development. Optimistic banks assessed that in the second quarter of 2023, inflation would decrease, and those with more pessimistic views forecasted that the decline would take place by the end of 2023. Of course, along with inflation, tight monetary policy will affect world economic growth. Accordingly, there are three scenarios for macroeconomic forecast in 2023. One is a negative scenario: persistent inflation and deep recession, with the following assumptions of … [Read more...] about Optimism abounds for more positive scenarios in macroeconomic forecasts

Vo Tri Thanh *Vo Tri Thanh Viet Nam achieved and exceeded 14 out of 15 targets assigned by the National Assembly for 2022 with many impressive numbers including GDP growth, export turnover and the number of newly-established and re-opened businesses. Only labour productivity was under expectations. Viet Nam’s labour productivity was expected to increase by between 4.7 per cent and 5.2 per cent on average in 2022, higher than the average growth rate of 4.7 per cent in 2021 but behind the target of 5.6 per cent set for the whole of 2022. On January 10 this year, the Government issued Resolution No 06/NQ-CP on the development of a modern, efficient, sustainable and integrated labour market serving quick socio-economic recovery, setting the average labour productivity target for 2023 at more than 6.5 per cent. Labour productivity is an important economic indicator that is closely linked to economic growth, competitiveness and living standards within an economy. According to … [Read more...] about Viet Nam wrestles with labour productivity issue when heading to innovation-based development

The Vietnamese company, a subsidiary of conglomerate Vingroup JSC (VIC.HM), has been moving to expand in the United States, where it hopes to compete with existing automakers. A VinFast spokesperson said headcount would not shrink in Vietnam where most of the company's staff, including its factory and engineering operations, are located. It was not immediately clear how many jobs would be affected by the U.S. restructuring. VinFast said it had hired about 150 people in the United States, many in sales, support and distribution roles as part of a model that bypasses traditional dealerships. The company, which started operations in 2019, said last week that it would delay its first batch of deliveries to the United States to the second half of February. In late January, VinFast said it was merging its U.S. and Canadian operations into a single business unit. It did not announce any job cuts at the time. VinFast said in a statement to Reuters it was looking to "streamline" … [Read more...] about EV startup Vinfast to cut US jobs amid restructuring