Today 4 pm meeting

Present at the event were Chief of the General Department of Political Affairs (GDP) of the Vietnam People’s Army General Luong Cuong, and Chief of the General Staff and Deputy Minister of National Defense Senior Lieutenant General Nguyen Tan Cuong, among others. At the meeting, delegates focused on discussing and commenting on reports on the five-year implementation of Resolution No.5-NQ/TW dated April 16, 2018 of the Politburo on Vietnam’s National Defense Strategy; Conclusion No.24-KL/TW dated April 16, 2018 of the Politburo on Vietnam's defense strategy; and proposal for resuming education courses for civilian students in several military schools. At the event, a leader of the GDP informed the participants on domestic, regional, and international situations that have had impacts on the country’s defense-military task performance, and briefed on some major contents of the eighth plenum of the 13th Party Central Committee. In his concluding speech, General Giang praised … [Read more...] about Defense Minister chairs seventh meeting of Central Military Commission

Participants also focused on discussing a road-map for implementing the new salary regime. During the morning sitting at the hall, the Party Central Committee decided to dismiss Le Duc Tho, member of the Party Central Committee and Secretary of the Party Committee of Ben Tre province; and Trinh Van Chien, former member of the Party Central Committee, former Secretary of the Party Committee and former Chairman of the People's Committee of Thanh Hoa province from all Party positions. Members of the Party Central Committee voted to let Dieu K'ré, member of the Party Central Committee and Permanent Deputy Secretary of the Dak Nong provincial Party Committee, cease holding his position as member of the 13th Party Central Committee. At this plenum, which will last until October 8, participants will consider and decide on big and complex issues that are important to the completion of the political tasks of the 13th Party Central Committee from now until the end of its term. Source: … [Read more...] about First working day of 13th Party Central Committee’s 8th meeting

Energy is one of the key pillars in Vietnam-Germany relations over the past decades with a series of projects and programs operated by The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) – the German Development Agency. A delegation of nearly 50 German companies led by Minister-President of the German state of Lower Saxony , Stephan Weil, has expressed their interest in renewable energy and energy efficiency , the field in which the Federal Government of Germany has cooperated with Vietnam for years. Vietnam's Prime Minister Pham Minh Chinh (R) and Minister-President of the German state of Lower Saxony , Stephan Weil, in Hanoi on October 1. Photo: VGP Other fields of potential cooperation that the Lower Saxony’s government and businesses want to focus on include vocational training, skilled labor migration, tourism, digitalization, and Industry 4.0. The issues were stated by Prime Minister-President Stephan Weil at … [Read more...] about Lower Saxony wants to invest in energy transition in Vietnam

Cold storage supply remains behind requirements, illustration photo/ Source: freepik.com The country’s cold storage industry is expected to reach a value of $295 million by 2025, with an annual growth rate of 12 percentage points, according to Savills Vietnam. At the end of August, Hau Giang Cold Storage Logistic Co., Ltd. started construction on its first outsourcing cold storage project in the same province. The scheme includes six cold storages equivalent to a capacity of 88,000 tonnes. With an estimated investment of around $21.7 million, the project will use modern technology from the EU and applying digital management. It is scheduled to be ready for operations by 2027. A Savills Vietnam report released in August shows that, although it only accounts for 11.4 per cent of the total number of transactions in the industrial real estate segment, the cold storage real estate market recorded an annual growth rate of nearly 30 per cent from 2017 to 2022, far exceeding … [Read more...] about Cold storage supply remains behind requirements

Vinacomin cleared its short-term loan balances by the end of last year For the first half of this year, the group (Vinacomin) reportedly produced 20 million tonnes of raw coal, 25 million tonnes of commercial clean coal, and unloaded 64 million cubic metres of rock and soil, consuming 25.3 million tonnes of coal. In the same period, the group provided more than 21 million tonnes of coal for electricity production, reaching 55 per cent of the plan; increased by 16 per cent, equivalent to an increase of 3 million tonnes compared to the same period in 2022. The first 6-month revenue of the group is estimated to have reached nearly $3.7 billion. With contracts signed for the rest of the year, the amount of coal supplied is about 18.75 million tonnes and the whole year is expected to reach 39.7 million tonnes, an increase of about 1.2 million tonnes compared to the previous year. This is mainly due to the increase in volume of build-operate-transfer thermal power plants and … [Read more...] about Vinacomin navigating to ensure efficiency

The buildings we want to work in are smart buildings, and the role of the office is completely going to change. In the past, we went to the office to work. Nowadays, we can do work from everywhere. We just come to the office to communicate and to be part of a culture. Ludwig Graf Westarp, Representative, Federal Association of Small and Medium-Sized Enterprises in Germany Buildings have a tremendous impact on the world’s climate, and the construction and real estate industries account for almost 40 per cent of total worldwide carbon emissions. Different technologies play a key role at each state of the building’s life cycle and help us to become more efficient, reduce waste and save time and energy. By collecting energy data, optimising the usage of energy and water consumption, we understand what is really going on in the buildings. Buildings need to be comfortable, energy efficient, productive, and safe, meeting higher occupant expectations. This is driven by … [Read more...] about Only world-class level can ensure truly green buildings

Ba Huan has pioneered the application of FPT's modern and comprehensive digital technology system to transform its purely agricultural model. Thanks to this digital transformation, Ba Huan is aiming to keep pace with development trends globally and become a leading food solution provider in Vietnam. The digital transformation platform, developed by FPT applications with an SAP core system, is designed to help Ba Huan's board of directors manage in real-time and create a seamless management process with strict oversight over every stage. FPT's successful deployment of its closed management feed-farm-food system for Ba Huan includes the in-depth RISE with SAP solution set for the agricultural industry, with three sets of packaging solutions on the SAP platform, and three made by FPT applications. They are being applied across the entire Ba Huan network, including at its headquarters, factories, and subsidiaries located in Ho Chi Minh City, Binh Duong, Long An, and Hanoi. … [Read more...] about Ba Huan runs on real-time data thanks to SAP and FPT

The transaction is an equity investment in the form of Convertible Dividend Preference Share (CDPS) to be issued at a price of VND85,000 ($3.49) per share, which can be converted into ordinary shares at a 1:1 conversion ratio. In addition to the normal dividends payable (if any) to the company’s shareholders, the CDPS has no preference dividend for the first five years, then followed by a 10 per cent preference dividend at par value of each outstanding CDPS per annum from the sixth anniversary onwards. On the tenth anniversary of the issuance, the outstanding CDPS will be mandatorily converted into ordinary shares of Masan Group. Masan is also in discussion with other investors to upsize the investments to up to $500 million, which is subject to prevailing market conditions and the company’s capital needs. Proceeds from the transaction will be used to strengthen the company’s financial position and de-lever its balance sheet. This marks Bain Capital’s first-ever investment in … [Read more...] about Bain Capital leads Masan Group’s equity funding round

The EU official began implementing the transition period of the Carbon Border Adjustment Mechanism ( CBAM ) from October 1. As a result, iron and steel, cement, and fertiliser manufacturers in Vietnam are required to report total verified greenhouse gas (GHG) emissions embedded in goods exported to the EU. At an event on green steel production at the end of September, Nghiem Xuan Da, chairman of the Vietnam Steel Association, said that the country is taking the first steps to build a carbon-neutral roadmap for the steel industry. "Towards 2025, the steel industry aims to reduce GHG emissions by 10-30 per cent by optimising processes, energy, raw materials, and technology. In 2025-2030, the industry will use low-carbon materials and increase the amount of hydrogen gas in steel factories by 30 per cent," Da explained. Despite the ambition to reduce GHG emissions, the CBAM will pose a major challenge for Vietnamese steel exporters, according to Da. In the first six months of 2023, … [Read more...] about CBAM heralds new journey for sustainable energy use

An oil rig of Petrovietnam (Photo: VietnamPlus) Hanoi (VNA) – Forty-eight years since its establishment, the Vietnam Oil and Gas Group (Petrovietnam) has become a multi-billion-dollar enterprise and made breakthrough and comprehensive development strides. Petrovietnam was set up on September 3, 1975 with the goal of helping guarantee national energy security and serving as a pillar of economic support for national development. Shortly after the date of national reunification (April 30, 1975), on September 3 the same year, the Vietnam General Department of Oil and Gas, the predecessor of Petrovietnam , was established under the Council of Government in efforts to realise late President Ho Chi Minh’s aspiration to develop an oil and gas industry of the country. Nearly half a century has passed, Petrovietnam has managed to master the most cutting-edge technologies and build a complete oil and gas industry. From 1986 to 2022, it posted more than 400 billion USD in total … [Read more...] about Petrovietnam in step with 48 years of national development