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Dao Minh Chanh, Deputy Director of the municipal Department of Planning and Investment, said E.U. countries are investing in 2,724 projects in HCM City, mostly in the fields of manufacturing and processing, retail and wholesale, motor and automobile repair and maintenance, and information and communications. Worth a total of 7.69 billion USD, they account for 10.27% of FDI in the city, he said. HCM City has constantly improved its business climate and adopted various incentives to encourage more FDI, he said, adding that most notably among the incentives include reductions in corporate income tax, import-export duties and land lease. Vo Van Hoan, Vice Chairman of the municipal People’s Committee, highlighted the importance of the E.U.-Vietnam Free Trade Agreement (EVFTA) which has entered into force, saying it has brought great and balanced benefits to both sides and there is a huge opportunity for Vietnam and the E.U. to step up bilateral economic cooperation. With the E.U.’s … [Read more...] about HCM City calls for E.U. investment in nearly 200 projects

Authorities in Ho Chi Minh City have proposed the construction of a US$6 billion international transshipment port in outlying Can Gio District. The proposal was made by chairman of the municipal People’s Committee Phan Van Mai in his document sent to Prime Minister Pham Minh Chinh on Thursday. The investment into the port was originally suggested by MSC Group – the world's largest shipping group, Vietnam Maritime Corporation, and Saigon Port. The project is expected to have about 7.2 kilometers of wharves and cost approximately $6 billion. The port will be able to receive the world's largest container ship, which can carry 24,000 twenty-foot equivalent unit (TEU) containers, while its capacity will be around 10-15 million TEUs. The implementation of the project will be divided into seven phases, with the developers hoping that the first phase will be initiated in 2024 and put into operation in 2027. The final phase is expected to be put to use in 2040. The existing Can … [Read more...] about Ho Chi Minh City proposes construction of $6bn int’l transshipment port

Smart EVN, developed by the Electricity Vietnam’s Information and Communication Technology Company (EVNICT), was recently presented the 2022 Sao Khue Award by the Vietnam Software Association (VINASA) for organizational and corporate management and governance. Smart EVN, developed by EVNICT, was recently presented the 2022 Sao Khue Award by VINASA Smart EVN was developed to serve internal company governance by connecting with its internal systems to provide employees with information, improving work efficiency and productivity, building a number of additional modules on EVN's internal information systems to ensure that when integrated with Smart EVN, they will provide complete features on mobile devices and web platforms. With two versions for mobile app and web, Smart EVN integrates main modules such as correspondence, documents, work timesheets, scoring, income, travel register, personnel, training, weekly work schedule, and medical care, among others. Smart EVN … [Read more...] about Vietnamese technology firms provide digital transformation solutions

Nguyen Tuan Quang, Deputy Director of the Climate Change Department under the Ministry of Natural Resources and Environment, speaks at the event. (Photo courtesy of JICA) HCM City (VNA) – Climate change has become one of the great challenges facing humanity, affecting all aspects of economy, politics, diplomacy as well as global security, Nguyen Tuan Quang, Deputy Director of the Climate Change Department under the Ministry of Natural Resources and Environment (MONRE), has said. He made the statement at a seminar on “Accelerating Business Engagement in the Pathway of Vietnam’s Nationally Determined Contributions and Net Zero Emissions” held in Ho Chi Minh City on June 30 by the Japan International Cooperation Agency (JICA) in cooperation with the Climate Change Department and the Vietnam Chamber of Commerce and Industry (VCCI). It aimed to share information and experience in greenhouse gas emission reduction between public agencies and the private sector while … [Read more...] about Seminar seeks to promote private sector’s engagement in greenhouse gas reduction

Following the rising global momentum for implementation of Nationally Determined Contributions (NDC) and domestic policy direction towards carbon neutrality by 2050, the seminar gathered key policy makers from relevant ministries, leaders of business associations, key CEOs, managers and representatives from both foreign and domestic enterprises based in Vietnam. More than 100 participants engaged in a vigorous discussion on the private sector’s role in realizing the national climate change targets of Vietnam, including NDC by 2030 and the long-term carbon neutrality direction by 2050. The seminar provided a valuable opportunity for MONRE to inform development partners and business sectors the most recent policy update, direction and regulatory requirements for implementing mitigation including NDC in Vietnam. JICA’s technical cooperation project on “Support for Planning and Implementation of the Nationally Determined Contributions in Vietnam (SPI-NDC)” also shared with the … [Read more...] about JICA ramps up private sector’s engagement in climate actions in Vietnam

Speaking at a working session with the Standing Board of the provincial Party Committee as part of his trip to Ben Tre, President Phuc lauded the province’s efforts in economic development, with its gross regional domestic product (GRDP) up 4.18 percent in the first half of this year. Ben Tre has combined agricultural restructuring with new-style rural area building, he said, stressing that the province has focused on developing value chains for local agricultural products. The leader pointed out challenges and limitations of the province, such as the severe impacts of climate change and rising sea levels, high poverty rate, poor production capacity, limited infrastructure, and a lack of quality personnel. Ben Tre should focus on planning, pursue green growth, boost the processing industry and energy sectors, and push ahead with urban building, he said. President Phuc asked the province to further restructure its agricultural sector, strive to adapt to climate change, … [Read more...] about Trade, services and tourism should be spearhead sectors of Ben Tre: President

Dr Moritz Kraemer Dr Moritz Kraemer, the former Global Chief Ratings Officer of Sovereign Ratings Group at S&P Global and currently the Chief Economist, Head of Research of the Landesbank Baden Wuerttemberg (“LBBW”) bank, shared his view of the country and the current global situation with Vietnam News Agency. The pandemic remains unpredictable, and the world is experiencing strong and unusual economic and political changes, could you share your views on the situation? Yes, the world is in turmoil. A terrifying war in Europe could escalate to the unspeakable any day. The pandemic is still a lingering threat that keeps the world economy, and especially some countries in Asia, at bay. The old model of globalisation is severely tested as erstwhile reliable supply chains are ruptured and seem to refuse to heal. Moreover, as if that was not enough, inflation appears to be getting out of hand in much of the advanced economies as commodity prices soar and labour becomes … [Read more...] about Viet Nam shows ‘seemingly limitless promise’