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Established last December between Vietnam and the International Partners Group (IPG), the Just Energy Transition Partnership (JETP) could facilitate Vietnam in achieving its goal of net-zero by 2050 and a future for green power. Chan Hong and Vi Nguyen, lawyers, Dentons LuatViet, Dentons Global Highlights of Vietnam JETP $15.5 billion to be mobilised An initial amount of at least $15.5 billion will be deployed over the next 3 to 5 years through a combination of financial instruments with the following breakdown: • IPG members will mobilise half of that total ($7.75 billion) through public sector financing, likely on more attractive terms than Vietnam could secure in the capital markets. • Glasgow Financial Alliance for Net Zero Working Group (GFANZ) members will work to mobilise and facilitate the other $7.75 billion through private financing, once the public sector financing has been secured by the IPG. JETP Resource Mobilisations Plan The initiative … [Read more...] about $15.5 billion in financing for green energy from Just Energy Transition Partnership

Could you give an update about Antler’s portfolio? Magnus Grimeland It boasts about 680 companies in 25 locations across the world including Brazil, the United States, and Canada. In Europe, we are in most of the big capitals. In Africa, we’re in Nairobi. Asia is obviously a big focus for us with most of the major tech ecosystems in India, China, Vietnam, Indonesia, Singapore, Japan, South Korea, and Australia. We’re the world’s second most active early-stage investor now, and back the top 1 per cent of founders. We got 65,000 applicants last year from founders who want to work with us. Antler backs the best of the next generation of great companies, supporting their access to co-founders, supporting business model validation, putting in the first bit of capital with advisors across the globe, helping internationalise, and then we continue to back them. We also have a later stage fund, which enables us to invest directly into later stage companies. I’m incredibly … [Read more...] about Vietnam: the place to innovate with tech

ASEAN countries like Vietnam are not spared from the impact of climate change. Rapid economic development also means increasing demand for energy and power to meet the pace of growth, which leads to an increase in CO2 emissions. The journey to a cleaner future Takeshi Masuyama, Managing director, regional head of Vietnam, MUFG Bank, Ltd. The Vietnamese government has announced in various international forums its commitment to address environmental issues, and has firmed up its national net-zero target. In addition, the announcement of the Vietnam Just Energy Transition Partnership (JETP) in last December is another milestone and will further rally the private and public sectors towards accelerating the country’s green transition. MUFG is part of the working group convened by the Glasgow Financial Alliance for Net Zero (GFANZ) supporting the JETP initiative for Vietnam. The sustainability mission Since announcing our Carbon Neutrality Declaration in 2021, MUFG … [Read more...] about Committed to empowering a brighter future

Entering 2023, Microsoft and Google announced global lay-offs of 10,000 and 12,000 employees, respectively. IBM laid off nearly 4,000 members, while Spotify cut about 6 per cent of staff. Since November last year, Meta, Amazon, and HP have also adjusted thousands of positions. Tech lay-off wave continues to bite at Vietnam’s heels, Illustration photo/ Source: freepik.com In Southeast Asia, Shopee parent company Sea Group, Crypto.com, e-commerce platform JD.ID, and GoTo – a merger between ride-hailer Gojek and e-commerce platform Tokopedia – are among the companies that experienced a drastic staff cut in the past year. GoTo in November 2022 cut 1,300 jobs, equivalent to 12 per cent of the number of employees, while Sea Group let go of 7,000 employees in the past six months. Both companies cited a common cause being challenging macroeconomic conditions. Industry insiders in Vietnam are generally wary of the effect this laid-off wave might have on the domestic market. … [Read more...] about Tech lay-off wave continues to bite at Vietnam’s heels

Attending the 77th U.N. General Assembly (UNGA 77)’s plenary on Secretary-General António Guterres’s priorities in 2023, the UNGA 77 Vice President also called on the international community to join efforts to implement the sustainable development goals (SDGs), the 2030 Agenda and other global commitments and priorities, through respecting the U.N. Charter and international law. It is important to address conflicts by peaceful means, boost multilateral cooperation, strengthen financial support and reform of the international financial system, ensure resources for sustainable development, and pay more attention to climate change and justice, he emphasized. The diplomat also reaffirmed the country’s backing for the U.N. Secretary-General’s role and efforts, and its commitment to maintaining close collaboration with other U.N. member states. Guterres expressed his concerns about the complicatedly developing world situation, with multi-dimensional challenges from the lingering … [Read more...] about Vietnam reaffirms support for U.N. Secretary-General’s role, efforts

For urgent issues, N.A. agencies should actively and promptly work with relevant ministers and heads of ministry-level agencies to seek solutions, instead of waiting for question and answer (Q&A) sessions held by the legislative body and its standing committee. Notably, this year, the N.A. will conduct a vote of confidence for posts it elected and approved. Therefore, the work of preparing for deputies to properly assess their confidence with these positions is also an important responsibility of the Council for Ethnic Affairs, and committees of the legislature and its standing committee, the top legislator stressed. He also required the early and good preparations for state budget estimates and settlement, and parliamentary diplomacy, including foreign visits by the N.A. chairman and vice chairmen, and the organization of the Global Conference of Young Parliamentarians. At the meeting, N.A. Chairman Vuong Dinh Hue also reviewed the body’s two extraordinary sessions held in … [Read more...] about Top legislator stresses importance of keeping close watch on macro-economic situation

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency. - National Assembly (NA) Chairman Vuong Dinh Hue asked agencies of the NA and its Standing Committee to keep a close watch on the macro-economic situation, as well as financial, monetary, stock and real property markets, while meeting their standing members on February 7. For urgent issues, NA agencies should actively and promptly work with relevant ministers and heads of ministry-level agencies to seek solutions, instead of waiting for question and answer (Q&A) sessions held by the legislative body and its Standing Committee. Read full story - The coming visit to Singapore by Vietnamese Prime Minister Pham Minh Chinh will be a key platform for both countries to reaffirm their excellent ties, said Singaporean Foreign Minister Vivian Balakrishnan in his written interview with the Vietnam News Agency. Read full story - Prime Minister Pham Minh Chinh’s upcoming … [Read more...] about ☕ Afternoon briefing on February 7