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Climate change is an urgent problem for humanity in the 21 st century, and its importance was reinforced by the presence of 197 heads of state at the Climate Change Conference in Glasgow in 2021 (COP26). Vietnam has made strong commitments and issued its National Strategy on Climate Change for the period to 2050. Time for business action According to the World Bank, Vietnam is one of the most vulnerable countries to climate change. In 2020 alone, Vietnam has suffered a loss of $10 billion, equivalent to 3.2 per cent of GDP. Without a green transformation strategy, it is estimated that the nation could be losing 12-14 per cent of GDP every year by 2050. Green transformation describes the process of applying advanced processes and technologies to reshape business operations, ensuring economic growth, environmental sustainability, and social development. From an enterprise perspective, a common management solution is through a set of environmental, social and governance … [Read more...] about Net-Zero: Challenges and opportunities for Vietnamese businesses

How can 5G and digital transformation impact the performance of industries such as manufacturing, logistics, agriculture and e-commerce over the coming years? Denis Brunetti, president of Ericsson in Vietnam, Myanmar, Cambodia and Laos As a critical digital national infrastructure, 5G has the potential to significantly transform society, industries, and the economy, as well as benefiting the environment. In the past, developing economies depended on traditional inputs to fuel growth, such as low-cost labour and natural resources. Moving forward, the new economy will increasingly depend on more sustainable inputs, such as science, technology and innovation, whereby data will become the new oil that creates as much as drives a more inclusive and sustainable socioeconomic development, securing broader range prosperity for all. Through 5G, the introduction of Industry 4.0 will be accelerated across thousands of factory floors in Vietnam, enabling robots, digital twin … [Read more...] about Going digital and green in partnership with Ericsson

Reviewing the country’s socio-economic recovery and development achievements in 2022, the PM said the macro economy remained stable, major economic balances were ensured, and notably the domestic investment and business environment was improved significantly. During the post-COVID-19 period, the foreign investment disbursement went up 13.5% as compared with 2021, which reflected Vietnam’s attractiveness in the regional and global investment maps, he said. Pham Minh Chinh stressed that the Vietnamese Party and State advocate green growth in order to ensure rapid, effective and sustainable economic development, contributing to implementing the 2021-2030 socio-economic development strategy. However, green growth needs a suitable roadmap, with conditions and capacity of each region, locality and business taken into consideration, he noted, encouraging the engagement of all, particularly businesses and people, in this regard. The Government will work to consolidate institutions, … [Read more...] about Prime Minister pledges to further support enterprises at Vietnam Business Forum 2023

A farmer harvest his crop in a high-quality rice paddy in Kien Giang Province. — VNA/VNS Hong Dat Viet Nam is outlining a plan to cultivate one million hectares of low-carbon high-quality rice in the Mekong River Delta to meet its net zero emission targets. The plan, being prepared by the Ministry of Agriculture and Rural Development (MARD), is expected to be submitted to the Government for approval in March and be under implementation in 2024. Twelve out of 13 provinces in the region have signed up for the plan. They have committed to reaching 200,000ha next year, 719,000ha in 2025, and over one million hectares in 2030. An Giang Province took the lead with a commitment to grow 150,000ha in 2025 and 200,000ha in 2023, undertaking a large share of the target. Deputy Minister of Agriculture and Rural Development Tran Thanh Nam said most Vietnamese firms do not develop rice paddies to cater to their exports. The firms rely only on traders to maintain their trade activities, … [Read more...] about Agricultural authorities draft plan to grow one million hectares of low-carbon rice

The index closed 22.04 points lower after losing 2.26 points on Friday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 5.21% to VND9.75 trillion ($413.44 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 28 tickers dropped. TPB of private TPBank led the fall with a 5.3% drop, followed by VCB of state-owned lender Vietcombank, down 4.4%. POW of electricity producer Petrovietnam Power Corporation lost 4.1% and SSI of leading brokerage SSI Securities Corporation closed 3.9% lower. PLX of fuel distributor Petrolimex and VPB of private lender VPBank stayed unchanged. Foreign investors were net sellers to the tune of VND346.24 billion, mainly selling HPG of steelmaker Hoa Phat Group and VIC of private conglomerate Vingroup. The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 1.39% while the UPCoM-Index at the Unlisted Public Companies Market was down by 0.54%. … [Read more...] about VN-Index plunges with no blue chip in green

Kuala Lumpur (VNA) – The Malaysian Government will focus on three main issues this year to achieve high-income nation status by 2026, including fiscal strengthening by focusing on increasing revenue and spending rationalisation. According to the country’s Ministry of Economy, Malaysia will identify new sources of growth including high-tech industries and prioritise digitisation such as electrics and electronics, aerospace, smart agriculture and biomass and reform the economic structure towards a higher value chain. The ministry said that the country’s government will identify new sources of growth including high-tech industries and prioritise digitisation such as electricity and electronics, aerospace, smart agriculture and biomass, along with reforming the economic structure towards a higher value chain. It will also focus on developing an economy based on the service sector, empowering micro, small and medium enterprises and encouraging research, development, … [Read more...] about Malaysia focuses on three issues to become high-income nation by 2026

In commemoration of the 50th Anniversary of ASEAN-Japan friendship and cooperation under the theme of Golden Friendship, Golden Opportunities , the ASEAN Youth Organisation is organising the first and largest ASEAN Youth Economic Forum in Southeast Asia. (Photo: aseanyouth.net) Jakarta (VNA) – A blueprint that sets the future direction of the ASEAN-Japan economic partnership for the next decades is now under discussion. Speaking at the recent ASEAN Youth Economic Forum 2023 held in Jakarta, Japanese Ambassador to ASEAN Kiya Masahiko said that his country has always been  and will always be with ASEAN to overcome challenges. ASEAN and Japan are entering their 50th year of relations this year. However, their relationship has dramatically changed over the past decades, not to mention the common challenges that both sides face. Japan supported ASEAN's industrialisation and economic development. However, it is today facing economic stagnation and an aging population. ASEAN, on … [Read more...] about ASEAN-Japan economic partnership in next decades discussed

Vietnam’s national flag carrier Vietnam Airlines has resumed its regular flights linking Hanoi and Beijing after a three-year pause due to the COVID-19 pandemic. The airline’s flight VN513 departed from Beijing at 3:30 pm and landed in Hanoi at 5.55 pm on Sunday. Before the resumption of the Beijing-Hanoi flight, Vietnam Airlines held a welcoming ceremony for the passengers on board at Beijing International Airport, with the participation of Vietnam and China's competent agencies and enterprises and over 100 passengers. The air carrier is operating the Hanoi-Beijing air route with a frequency of three round-trip flights a week. The airline will start increasing its frequency from mid-2023, while planning to open an air route connecting with Beijing’s Daxing International Airport. China is one of Vietnam Airlines’ biggest international source markets. The air carrier has reopened most of its air routes linking Vietnam to China, said a representative of the airline. The … [Read more...] about Vietnam Airlines restarts air services between Hanoi and Beijing

Customers at Vietcombank's branch. VCB led the stocks which pulled the VN-Index most on Monday. — VNS Photo Mai Huong Shares opened this week on a negative note on both major stock exchanges as pessimistic news from the financial market continued to affect investors’ psychology. On the Ho Chi Minh Stock Exchange, the VN-Index gave up more than 22 points, or 2.11 per cent, to close Monday’s trade at 1,023.10 points. The southern bourse’s index lost nearly 1 per cent last week. Meanwhile, the HNX-Index on the Ha Noi Stock Exchange decreased 1.39 per cent to end at 201.62 points after losing 1.6 per cent last week. The market breadth leaned heavily to the sellers with 612 losers and 176 gainers. Nineteen of the 25 stock industries tracked by vietstock.vn lost, of which 19 posted an average loss of more than 1 per cent. Only one sector – ancillary production – increased by 0.3 per cent on average. The biggest losers included agricultural production, securities, retail, … [Read more...] about Shares open new week on negative note amid uncertainty

Ca Mau Cape - a tourist attraction in Ca Mau (Photo: VNA) Ca Mau (VNA) – The People’s Committee of the southernmost province of Ca Mau is planning a wide range of activities within the framework of the “Ca Mau – Destination 2023” Programme to promote the locality’s tourism potential. Vice Chairman of the provincial People’s Committee Nguyen Minh Luan said that the programme aims to create chances for businesses to meet, connect and cooperate in developing trade and tourism. The plan aims to help Ca Mau boost socio-economic growth, develop tourism associated with trade and services, and stimulate the sale of local products, particularly local specialties and OCOP (One commune-one product) products. Accordingly, the province will organise a ceremony to mark the death anniversary of Hung Kings, the legendary founders of Vietnam (the 10th day of the third lunar month), a Ca Mau Cape Marathon, and a southern traditional cake festival, and a Ca Mau shrimp festival. A … [Read more...] about Various activities to be held in “Ca Mau – Destination 2023” Programme