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The total support from GCF also includes a US$75 million guarantee. US$8.3 million from the grant will be used to build capacity in the private sector to identify, appraise and execute energy efficiency projects. It will also provide technical assistance to the Ministry of Industry and Trade and the relevant authorities to further strengthen policy frameworks and regulations and create a helpful environment aimed at accelerating the energy efficiency market in Vietnam. The remaining grant funds and guarantee will be used to establish a risk-share facility to provide partial credit guarantees to local banks who may risk potential default on loans for energy efficienct projects. By reducing lending risks, the facility is expected to mobilize around US$250 million of commercial financing, to be provided to industrial enterprises and energy service companies at competitive terms and with low collateral requirements. Scaling up energy efficiency is the single best and lowest cost option to achieve multiple goals at once: meeting energy demand, preventing pollution and reducing greenhouse gas emissions while also increasing industry competitiveness, Carolyn Turk, Country Director for Vietnam said. In a context of limited public financing for energy, the risk-share facility is an innovative financial instrument in private sector investment financing for a greater uptake of industry-wide energy efficiency measures, she added. The grant and guarantee are to be executed under the Vietnam Scaling up Energy Efficiency Project which aims to support Vietnam in achieving the energy efficiency targets set out in the Green Growth Strategy as well as emission reduction objectives pledged under the National Determined Contributions. The World Bank’s Low Carbon Study estimates that Vietnam could save up to 11 GW of new generation capacity by 2030 if comprehensive demand-side energy efficiency investment takes place. The energy efficiency investment need for key industries …

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iPhone 12 users now can experience the features that 5G can offer. According to Viettel, one of the three largest mobile networks in Vietnam, on March 6 iPhone 12 became compatible with 5G. Prior to that, iPhone 12 could not access 5G when using two sims (physical and eSIM). However, the problem has been fixed. The iPhone models compatible with Viettel’s 5G include iPhone 12 mini, iPhone 12, iPhone 12 Pro and iPhone 12 Pro Max. To use 5G, iPhone users in Vietnam need to install iOS 14.5 Beta operating system. They also need to be subscribers to be selected at random by the mobile network operator. In a recent move, Apple said it will soon open a commercial version on iPhone to Viettel 5G. As such, iPhone 12 is the latest smartphone model that can use 5G in Vietnam, after Xiaomi Mi 11, Oppo Reno 5G and Samsung Galaxy S21. Users can use 5G on Samsung Note 20 Ultra and Galaxy Z Fold 2, Oppo Find X2 and Find X2 Pro, Xiaomi Mi 10T Pro and Poco F2 pro, Realme X50 pro 5G, ZTE Axon 10 pro, Huawei P40 and P40 pro 5G, and Nokia: 8.3 5G. Users don’t need to change the SIM to be able to use 5G services. Mobile network operators are running data support programs so Vietnamese users can experience 5G services, free of charge. To date, 5G is available in many cities and provinces throughout the country, including Hanoi, HCM City, Binh Phuoc, Thu Duc, Bac Giang and Bac Ninh. Users just need to have compatible phones to connect 5G. In Hanoi, experiments in December 2020 found that the 5G speed is 10-20 times higher than ordinary mobile internet access speed. VietNamNet’s reporters measured 5G VinaPhone speed at three locations, including the showroom for experience on Dinh Tien Hoang street, Ly Thai To Monument and Ngoc Son Temple area. At the showroom, the 5G download speed was up to 1.3 Gbps. Meanwhile, at other locations, the speed was 300-600 Mbps. At this speed, it took users 20 seconds to download an app with the capacity of 600 MB. According …

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A customer carries out a transaction at a branch of Asia Commercial Bank (ACB) in Ha Noi. ACB lost 2 per cent on Monday. — Photo courtesy of ACB Vietnamese shares trimmed early gains on Monday with the VN-Index closing lower as banking stocks came under selling pressure towards the final minutes of trading. The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged down 0.04 per cent to close at 1,168.27 points. It had risen 0.02 per cent last week. More than 652.7 million shares were traded on the southern bourse, worth VND15.6 trillion (US$673.9 million). Market breadth was positive with 274 gaining stocks and 183 losers. After the lunch break, the market fluctuated in a quite negative direction as many banking stocks dropped sharply and pushed the VN-Index down to the reference level. Asia Commercial Bank (ACB) fell 2 per cent to VND31,800 per share, VPBank (VPB) lost by 1.1 per cent to VND41,350 per share, Vietcombank (VCB) declined by 1.5 per cent to VND95,200 per share and Techcombank (TCB) dropped by 0.9 per cent to VND38,850 per share. On the opposite side, the oil and gas sector increased, becoming one of the best-performing sectors in Viet Nam on Monday, data on vietstock.vn showed. Vietnamese oil and gas stocks grew well, including PetroVietnam Gas JSC (GAS), Viet Nam National Petroleum Group (PLX), PetroVietnam Drilling & Well Services Corporation (PVD), PetroVietnam Power Corp (POW), and PetroVietnam Technical Services (PVS). “The market was moving sideways around 1,168 points. Liquidity increased slightly from the previous session and market breadth was positive, showing that investment cash flow is spreading,” said BIDV Securities Co. “Foreigners were net sellers on both HoSE and HNX. The VN-Index is likely to consolidate in the range of 1,160-1,200 points in the coming sessions,” said the company. Foreign investors net sold VND1.25 trillion on HOSE, including PVPower (POW) (VND212.8 billion), Vinamilk (VNM) (VND203.9 …

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