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As part of the draft national Power Development Plan VIII (PDP8), Vietnam plans to generate 7GW offshore wind capacity by 2030, but the lack of an official strategy is hindering progress. At a conference organised by the Central Economic Committee last week, Mark Hutchinson, chairman of the Southeast Asia Task Force, said, “7GW of offshore wind is crucial for Vietnam for its net-zero goal and for the country’s long-term energy security. Our message has been the same for years – a clearly defined route to the market is needed.” He said that offshore wind deployment was in its early stages and the deployment of the country’s 4GW of offshore wind was not driven by a direct auction mechanism but instead arranged at a time when clear policy measures were not in place. Thus, he called for accelerating a large-scale pilot or mechanism that covers a certain volume of the target, to bypass obstacles and fast track wind power. “There are now two main options: an accelerating mechanism such … [Read more...] about No time to waste in building the offshore wind industry

Is development of high-tech industrial parks (IPs) likely to become a new capital trend in Vietnam? David Jackson, CEO of Colliers Vietnam Industrial and logistics assets are two of the most in-demand real estate areas across Asia-Pacific in 2023. As investors adopt a defensive strategy, sustainability and technology will drive changes in reassessing portfolios, focusing on quality and long-term values such as green certifications, new amenities, costs, and operational efficiency. Different industrial models in Vietnam will thus also be impacted by these factors in the next few years. Yet, it is too early to say whether the investment in and development of high-tech parks will become a new trend. High-tech IPs in Vietnam have not yet reached their full potential due to a lack of attention. There is much to do in terms of removing legal barriers, completing the technology infrastructure, and offering more favourable conditions to encourage investors to join the … [Read more...] about Nation must scoop up benefits of high-tech industrial parks

Vietnam GameVerse hosts a chain of events for the gaming community including exhibitions, seminars, cosplay competitions, and game awards. Phu Tho Indoor Sport Stadium is home to many domestic and international eSport tournaments. Vietnam GameVerse is co-organized by the Department of Radio, Television and Electronic Information, under the Ministry of Information and Communications, VnExpress and the Vietnam Game Union. Le Quang Tu Do, Director of the Department of Radio, Television and Electronic Information at the Ministry of Information and Communications, speaks at the launch event. Photo by VnExpress/Giang Huy The event will start with Game Expo, an area for displaying game products and services. Game Expo will be open from 8:30 a.m. to 5:30 p.m. throughout the two days of the event. More than 20 partner booths will showcase at Game Expo, along with a series of sideline activities and hundreds of gifts for visitors. From 9:30 a.m. on April 1, the Game Forum … [Read more...] about Vietnam game festival to take place in April

The energy transition in Vietnam is tied to the rapid growth of the economy, urbanisation, and industrialisation. We have seen the strong aspiration of the government to speed up the energy transition while meeting the requirements of economic development and the goal of becoming a high-income country by 2045. Energy transition is more seen as a potential engine for employment, and this trend will likely grow, helping to build support for renewables. John Rockhold, head of the Power and Energy Working Group under the Vietnam Business Forum Fossil energy sources are gradually being replaced by green and clean energy sources, reducing greenhouse gas emissions and combating climate change, while Vietnam is one of the first countries to renew its nationally determined contribution to the United Nations Framework Convention on Climate Change in 2020. The roadmap for the country’s transition process towards green and sustainable development will not only need to ensure … [Read more...] about Displaying readiness for the energy transition in Vietnam

Christanto Suryadarma, sales vice president for Southeast Asia at Zebra Technologies, told VIR at a press briefing on March 21, “There are many industries that we can participate with in Vietnam to modernise and automate. Transportation logistics is a key, and we are already gaining customers in this field. We are also starting to see some good use cases in healthcare, and we want to continue growing that." "Recently, we also saw interest from the Vietnamese government in terms of safety and security, looking at how they can equip security and police officers with our technology to improve safety and productivity,” he added. Christanto Suryadarma, sales vice president for Southeast Asia, Zebra Technologies Retail and manufacturing are now the two best performing industries for Zebra Technologies in Vietnam. For example, in retail, the company sees many retailers automating and digitalising using its solutions. Moreover, the nation is now a strategic location for … [Read more...] about Zebra Technologies eyes potential of logistics, healthcare, and public sectors in Vietnam

Martin Koerner, chairman of EuroCham Vietnam's Tourism and Hospitality Sector Committee, told at a tourism conference Wednesday that Vietnam's visa policy remains complicated and restrictive compared to regional neighbors such as Thailand and Singapore. Thailand already extended its tourist visas to a maximum stay of 45 days for over 50 countries while Vietnam currently exempts only citizens of 25 countries from requiring visas with maximum stays of 15 days. EuroCham has proposed the government expand visa exemptions for more countries, including all European countries, the United States, Australia and New Zealand and prolong the duration of visa-free stays to 30 days. "However, we have seen slow progress in achieving this," Koerner said. "The country needs to implement a tourism development strategy quickly to compete with its regional competitors." Nuno F. Ribeiro, a Portuguese lecturer in hospitality and tourism at RMIT University, also proposed Vietnam waive visas for more … [Read more...] about Foreign experts urge Vietnam to relax visa policies, improve tourism services

The Vietnam News Agency (VNA) and the National Associated Press Agency of Italy (ANSA) sign a professional cooperation agreement at an online ceremony held in Hanoi on February 20. (Photo: VNA) Hanoi (VNA) - Italian Ambassador to Vietnam Antonio Alessandro cited Italian President Sergio Mattarella's words as saying that the relationship between the two countries “strongly rooted in history” while granting an interview to the Vietnam News Agency (VNA) on the occasion of the 50th founding anniversary of bilateral diplomatic ties (March 23, 1973 - 2023). The following is the full text of the interview. Reporter: How do you evaluate the relations between Vietnam and Italy since the establishment of the bilateral diplomatic ties 50 years ago, especially since the upgrading of the relationship to a strategic partnership in January 2013? Ambassador Antonio Alessandro : I would use the words of the President of the Italian Republic Sergio Mattarella, who has just released a … [Read more...] about Italy – Vietnam relationship “strongly rooted in history”: Ambassador

The US was the largest export market to Vietnam in 2022 with Vietnamese exports to the former reaching US$100 billion. Vietnam is willing and ready to foster bilateral relations with the US, Ministry of Foreign Affairs’ deputy spokesperson Dang Thu Hang said at a press conference in Hanoi on March 23. Prime Minister meets US corporate executives on March 22 during a meeting with the US-ASEAN Business Council. Photo: VGP "The Vietnamese Government expects to foster our relations with President Joe Biden's administration," Hang replied to a reporter's question about Vietnam's readiness to upgrade the Comprehensive Partnership to a Strategic Partnership with the United States. "We hope the Vietnam-US relations will be strengthened in-depth, sustainability and efficiency for regional and international peace and cooperation," she said. Hang said that the Vietnam-US comprehensive partnership has grown stronger in the face of bilateral, regional, and … [Read more...] about Vietnam ready upgrade US ties on 10th anniversary of comprehensive partnership

We are facing a challenging business environment on a global scale. How do you evaluate the support the ASEAN Business Advisory Council (ASEAN-BAC) has and the wider Vietnamese business community? Arsjad Rasjid, chairman of ASEAN BAC 2023 In our country we have something called Indonesia Incorporated, where the government and the private sector work together. This is very important and, at the ASEAN level, we should have an ASEAN Incorporated, where the governments and the business community work together. This is because there are multiple challenges. For instance, we have 280 million people in ASEAN. If we didn’t have the public and the private sectors working together, we would not have been able to solve issues like carrying out mass vaccinations during the pandemic. If we work together on ASEAN connectivity, on energy for example, we can maintain our security with this synergy. We are a $3.2 trillion economy. However, with more efforts towards ASEAN … [Read more...] about Vietnam can enhance its role further within ASEAN

In December, the EU officially approved a directive for companies to pay a minimum tax rate of 15 per cent from 2024. Our neighbouring markets such as Malaysia, Singapore, and Hong Kong are heading towards the official application of GMT policy from 2024 or 2025. Thomas McClelland - Country tax leader Deloitte Vietnam Countries with foreign investment in Vietnam, like South Korea and Japan, will implement new tax policies or announce a draft tax reform, moving towards the application of the GMT from the fiscal year 2024. The impact of the policy on Vietnam is clear and urgent, and requires the authorities to take timely action before it is too late. Firstly, to protect tax collection, Vietnam could consider the immediate solution of implementing a qualified domestic minimum top-up tax to gain the right to collect the top-up tax rather than the tax going to another country. This mechanism can simply be understood as a domestic mechanism in which the calculation of … [Read more...] about Vietnam must revisit policies to develop implementation of global minimum tax