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At the panel discussion, entitled “Promoting Nature Positive Business and Green Growth through Practicing ESG in Businesses,” held as part of the 2023 Vietnam Corporate Sustainability Forum in Hanoi on August 23. (Photo: VietnamPlus) Hanoi (VNA) - Transitioning to a sustainable business model with reduced carbon emissions is the optimal solution for companies facing environmental protection challenges and climate change adaptation. This requires businesses to innovate through smart solutions and efficient resource utilisation. This was a topic of discussion at the 2023 Vietnam Corporate Sustainability Forum (VCSF) held in Hanoi on August 23, one of the most important dialogues between the Vietnamese government and business community to promote sustainable development. Themed “Global Green Race: From Strategy to Execution of Sustainable Business,” the annual event that began in 2014 was co-organised by the Vietnam Chamber of Commerce and Industry (VCCI) and the … [Read more...] about Firms ready to switch to low-carbon economic model

Illustrative photo (Photo: VNA) Ho Chi Minh City (VNA) – The United Overseas Bank (UOB) has maintained its economic growth forecast for Vietnam at 5.2% for 2023 and 6% for 2024 while forecasting that Vietnam will continue to cut regulatory interest rates in the remaining months of this year to balance economic growth and inflation pressure. GDP growth in the third quarter is likely to underwhelm. UOB said that it sees prospects for another 100 basic points rate cut to 3.50%, the timing has been shifted out to the last quarter of this year instead of the third quarter to balance between growth and inflation risks./. VNA … [Read more...] about Vietnam’s regulatory interest rates to further down in fourth quarter: UOB

Phan Van Son, director of General Department under the Commission for Management of State Capital at Enterprises In Vietnam’s quest for economic prosperity, the Commission for Management of State Capital at Enterprises (CMSC) stands out as a sentinel overseeing the ownership in 19 pivotal state-owned enterprises (SOEs), each playing diverse roles across 16 varied sectors. According to Phan Van Son, director of General Department at the CMSC, the journey, while dotted with accomplishments, has many challenges. “The commission acts as a dedicated agency, symbolising state ownership in enterprises, rendering them guardians of state assets,” said Son. According to Son’s presentation at VIR ’s seminar titled 'Looking Back and Moving Forward' on September 26, by 2022, these 19 SOEs have witnessed a surge in their consolidated total capital and assets, touching $48.7 billion and $105.2 billion respectively, reflecting a substantial 63 per cent of total state ownership capital and … [Read more...] about CMSC navigates reforms and challenges at SOEs

SKC Co. Ltd. (SKC), a subsidiary of the SK Group , has received an investment certificate to develop a high-tech biodegradable materials factory in the northern port city of Hai Phong. With the total investment capital of $500 million, the factory specialises in producing biodegradable materials such as polybutylene adipate terephthalate and polybutylene succinate. The project spreads across an area of 32,089 square metres in the Haiphong I DEEP C Industrial Zone in the Dinh Vu-Cat Hai Economic Zone. In the first phase, the project will start construction in mid-December 2023, slated to be completed within nine months. The project is expected to reach an output of 35,000 tonnes by year-end. In the second phase, the company will increase the total output to 70,000 tonnes per year. Woncheo Park, CEO of SKC under SK Group said, "SK Group has invested about $3 billion in Vietnam over the past five years. Currently, Hai Phong is one of the countries with the most modern … [Read more...] about South Korea’s SK Group continues to deepen investment in Vietnam

Print has been the mainstay, but times change and so must the press. Photo: Le Toan Since taking a role as an economic counsellor at the Indonesian Embassy to Vietnam a few years ago, Ance Maylany Napitupulu has considered the local media a reliable source of information for her work. “I’m quite impressed by what Vietnam Investment Review has been doing in conveying information via in-depth stories on both online and print newspapers, and especially in organising events,” Napitupulu said. Napitupulu attended VIR ’s conference themed “Stronger Investment Partnerships for a Thriving Vietnam” in May, where she had an opportunity to establish relations with experts. This was the second time that Napitupulu had participated in such large-scale events led by VIR , which she said is becoming a professional event organiser besides its well-established expertise in the Vietnamese press. “I hope to have another opportunity to attend VIR events as they will provide me with new … [Read more...] about Evolving demands and trends dictate VIR‘s future

According to the latest report of UOB, after starting off the year at a sluggish pace, with real GDP growth in Q1 decelerating to 3.28 per cent on-year, from 5.92 per cent in the previous quarter, growth momentum in Vietnam remained lethargic, largely due to weak external demand coupled with an underperforming manufacturing sector. As a result, economic growth in Q2 expanded just 4.14 per cent on-year, for a cumulative growth rate of 3.72 per cent on-year in H1, well below the official growth target of 6.5 per cent. In terms of sectoral performance, manufacturing (including construction), which accounts for about 34 per cent share of the economy, managed to gain about 1.1 per cent on-year in Q2 with a positive contribution in H1. Meanwhile, the services sector (43 per cent share) managed to cushion some of the weaknesses from the external sector, rising 6.1 per cent on-year in Q2 following the 6.6 per cent on-year run in Q1. The services sector contributed 2.7 percentage points, … [Read more...] about Soft momentum likely for Q3: UOB

Vietnamese PM Pham Minh Chinh (R) and Brazilian President Luiz Inacio Lula da Silva meet in Brasilia on September 25. (Photo: VNA) Brasilia (VNA) – Prime Minister Pham Minh Chinh and Brazil ian President Luiz Inacio Lula da Silva held talks in Brasilia on September 25 (Brazil time) as part of the Vietnamese leader’s official visit to the South American country. Welcoming PM Chinh and the high-ranking delegation of Vietnam, the Brazilian President expressed his belief that the visit will help develop the two countries’ traditional friendship and sound cooperation to a new height, thus actively contributing to peace, stability, and development in the two regions and the world. PM Chinh voiced his delight at the growing Vietnam - Brazil relations and stressed that Vietnam attaches importance to the ties with Brazil, one of its leading partners in Latin America. The two leaders noted with satisfaction that bilateral relations have been flourishing and becoming … [Read more...] about Vietnamese PM, Brazilian President discuss measures for augmenting ties

National Assembly Chairman Vuong Dinh Hue (L) and his Bulgarian counterpart Rosen Zhelyazkov (Photo: VNA) Sofia (VNA) – National Assembly Chairman Vuong Dinh Hue and his Bulgarian counterpart Rosen Zhelyazkov met the press on September 25 (local time) to announce the outcomes of their successful talks in Sofia. Chairman Hue said the two leaders extensively discussed orientations and measures to consolidate friendship and improve the efficiency of their cooperation via the Party, Government, National Assembly, people-to-people exchange channels. They agreed to step up collaboration in economy, trade, investment, culture, sci-tech, education and training, labour and people-to-people exchanges, business-to-business and locality-to-locality cooperation. Hue hailed and thanked the Bulgarian legislature for its recent approval of the EU-Vietnam Investment Protection Agreement (EVIPA) with an absolute majority of votes, just ahead of his visit. Along with promoting the … [Read more...] about Top Vietnamese, Bulgarian legislators inform outcomes of talks to media

Prime Minister Pham Minh Chinh delivers a policy speech at the Brazilian Ministry of Foreign Affairs on September 25. (Photo: VNA) Brasilia (VNA) – Prime Minister Pham Minh Chinh attended a forum and delivered a policy speech at the Brazilian Ministry of Foreign Affairs on September 25 as part of his official visit to the Southern American country. Spotlighting the similarities that Vietnam and Brazil share, which include the struggle for national independence, development model and people’s values, PM Chinh said that since the diplomatic relations were set up nearly 35 years ago, both nations have enjoyed robust ties, which have been intensified and developed into a deep, stable, effective and sustainable fashion. He went on to lay stress on the five orientations to boost bilateral collaboration as well as elevate the bilateral ties into a new high in the time ahead. Firstly, both sides should enhance relations between leaders through high-level visits and meetings … [Read more...] about PM highlights five measures to elevate Vietnam – Brazil ties

In a conversation with Guo Yonghang, Secretary of the Guangzhou Party Committee and Mayor of the Guangzhou Municipal Government prior to the signing ceremony, Dung hailed the role of Guangdong province and Guangzhou city as a leading locality in high-quality development and a hub for the pilot of many new policies, including the policy to renovate the development, urban management, and special economic zone models. Guo highlighted the similarities between Hanoi and Guangzhou in culture, trade and tourism as well as the development of the partnership between the two cities, especially in trade and investment. He expressed belief that the Hanoi delegation’s visit, especially the meeting between Dung and Huang Kunming, Secretary of the Guangdong Party Committee, on September 25, has made an important milestone in the Hanoi - Guangzhou relations. The Guangzhou Mayor suggested that the two cities further increase the exchange of experience in urban management and tourism promotion. He … [Read more...] about Hanoi fosters partnership with China’s Guangzhou city