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The plan's implementation seeks to capitalize on Hanoi's import-export advantages and promote the city's socioeconomic development toward green growth and rapid and sustainable progress. Hanoi aims to sustain an annual export growth rate of 4.4-5% between 2023 and 2025 and 5.1-5.5% between 2023 and 2030. Electronics production at Channel Well Technology Vietnam at Quang Minh Industrial Park, Hanoi. Photo: Pham Hung/The Hanoi Times The goals were included in the action plan to achieve Hanoi's import-export strategy until 2030, which was signed off on March 30 by Vice Chairman of the municipal People's Committee Nguyen Manh Quyen. The implementation of this plan seeks to leverage Hanoi's import-export advantages and support its socioeconomic development toward green growth, rapid and sustainable progress, and a stable growth rate in import-export activities. The emphasis is on the direct export promotion of key and advantageous city goods and attracting … [Read more...] about Hanoi targets annual export growth of 5.5% until 2030

Vietnam plans to expand its crude oil and petroleum product reserves to 75-80 days of net imports by 2030 and 90 days by 2050. The national petroleum and gas supply reserve infrastructure is predicted to cost VND270 trillion (US$11.4 billion) by 2030. Deputy Prime Minister Tran Hong Ha at the meeting. Source: VGP Minister of Industry and Trade Nguyen Hong Dien commented on March 30 during a meeting of the Appraisal Council for the draft National Petroleum and Gas Reserve Infrastructure Plan. The minister stated that the country's liquefied petroleum gas (LPG) storage infrastructure is limited, with only ten 10,000 m3 or larger warehouses. Furthermore, no operational liquefied natural gas (LNG) warehouses are nationwide. "The development of new gas pipelines connecting warehouses to consumers has also encountered challenges due to a lack of designated corridors within industrial parks for gas pipelines," Dien explained. In the case of petroleum, there … [Read more...] about $11 billion required for Vietnam’s oil and gas infrastructure development

Tran Tuan Anh, who is also head of the Steering Committee for the building of a project on reviewing the implementation of the Politburo’s Resolution on the strategic orientations for the development of the Vietnamese petroleum industry by 2025, with a vision to 2035, asked delegates to discuss Petrolimex’s production and trade situation since the issuance of the Resolution, focusing on shortcomings, difficulties, their causes and suggestions regarding policies, mechanisms, legal regulations, particularly petrol price and market management, investment procedures, business development, national petroleum reserve as well as the construction, management, and operation of warehouse-port system. He asked for clarifying the restructuring of Petrolimex in line with divestment and equitization roadmap, and major orientations to international cooperation with strategic partners associated with the production, processing and distribution of new and clean energy products. Chairman of … [Read more...] about New strategic orientations for Petrolimex suggested

Addressing the United Nations General Assembly’s session on zero waste – breakthrough solution to sustainable development goals (SDGs) on March 30, Thoa said sustainable waste management plays a crucial role in achieving the SDGs, especially Goal No.12 on sustainable production and consumption and Goal No.13 on climate change response. Fully aware that zero waste is a solution to climate change, Vietnam passed a national action plan on circular economy, with a goal to reduce greenhouse gas emissions by 15% of the total national income and reuse and recycle, and treat 85% of the plastic waste, as well as reduce plastic waste in the ocean by half. Vietnam has also built a national action program on ocean plastic waste management with a target of reducing 75% of the plastic waste by 2030, she said. According to her, international and regional cooperation in the effort is extremely significant, especially in financial support and technological transfer to ensure sustainable production … [Read more...] about Vietnam calls for comprehensive, all-society approach to waste management

Vietnamese steel industry calling for wider investment from overseas entities, photo Le Toan Posco Yamato Vina Steel JSC, a joint venture between South Korea’s Pohang Iron and Steel Company and Japan’s Yamato Holdings, is contemplating constructing a second facility in Vietnam. Lee Youngwoo, general manager of Posco Yamato Vina, wants to “establish a robust sales network” across Vietnam while enhancing scrap supply security. In 2020, Posco Yamato Vina was the first to manufacture wide H-shaped steel in Vietnam. According to Lee, the business built a representative office in Haiphong last year in order to “create additional prospects for collaboration” with clients. In the southern province of Ba Ria-Vung Tau, Posco Yamato Vina operates a steel mill with a capacity of one million metric tonnes per year and produces section steel with a capacity of 500,000 tonnes per year. Following a lack of foreign investment in steel manufacturing in recent years, many observers see Posco … [Read more...] about Vietnamese steel industry calling for wider investment from overseas entities

Hanoi has planned to build 48 new markets and upgrade 11 flower gardens and one park this year. The information was given by the vice chairman of the municipal people’s committee Nguyen Manh Quyen at a meeting with representatives from the city’s districts on Friday. Nga Tu So Market in Hanoi According to Quyen, under the city’s planning, Hanoi will have 595 markets by 2030, up from the current 453. In 2023, the city will build 48 new markets and upgrade 57 others. By 2025 Hanoi will renovate 45 parks and flower gardens in 10 districts, including 11 flower gardens and one park this year. During this phase, the city will build Chu Van An, Tay Nam Ha Noi, Kim Quy, Phung Khoang and Ha Dong cultural, amusement and sports parks. Hanoi People’s Committee has asked districts to take measures to force the closure of unlicensed markets. The city is calling for investment in theme parks. … [Read more...] about Hanoi to build 48 markets and upgrade flower gardens this year

Illustrative image (Source: VNA) Jakarta (VNA) – The Asian Development Bank (ADB) and ASEAN Catalytic Green Finance Facility jointly held the Southeast Asia Development Symposium themed “ Imagining a net-zero ASEAN ” in Indonesia’s Bali on March 30. In his opening remarks, ADB President Masatsugu Asakawa pointed out that climate change remains the most urgent issue facing Southeast Asia, and suggested countries in the region cooperate with each other to put forth innovative solutions in order to accelerate the regional transition to carbon neutrality, and ensure strong, sustainable, inclusive economic growth. He also spoke of the bank’s goals of elevating its ambition 100 billion USD in cumulative climate finance by 2030, and rolling out “game-changing” platforms to scale up the climate finance . Indonesian Finance Minister Sri Mulyani Indrawati said ASEAN - which relies heavily on fossil fuels for economic and industrial development - should address the need for … [Read more...] about ASEAN looks towards net zero emissions

The People's Committee of Tra Vinh Province in southern Vietnam on Thursday held a ceremony to kick off a project to build a green hydrogen plant with an estimated investment of VND8 trillion (US$341 million). The project, whose investor is TGS Tra Vinh Green Hydrogen Corporation, an arm of The Green Solutions Group, is the largest-ever green hydrogen plant in the Southeast Asian country. It was designed to cover some 21 hectares of land. Once completed, the project will produce green hydrogen through seawater electrolysis, in which renewable energy will be used to split seawater into hydrogen and oxygen. Hydrogen will be stored in the form of liquefied gas which is easily transported and used in many heavy industries. The green hydrogen factory will help deal with the redundant output of wind and solar power plants. In the future, vehicles, such as cars, buses, and trucks, are expected to be hydrogen-powered and discharge steam instead of carbon dioxide emissions as … [Read more...] about Work starts on Vietnam’s largest-ever green hydrogen plant

Cat Lai Port in HCM City. Viet Nam will focus on enhancing the competitiveness of the logistics sector. — VNA/VNS Photo Viet Nam will focus on enhancing the competitiveness of the logistics sector and removing bottlenecks in the sector in order to promote trade and investment with India, an official has said. Speaking at a meeting on Thursday in HCM City, Pham Thi Ngoc Thuy, director of the Office of the Private Economic Development Research Committee, said there was immense potential for improvement in bilateral trade between Viet Nam and India, especially in the logistics sector. Viet Nam’s heavy investment in infrastructure development has created significant opportunities for logistics enterprises, she said. In addition to logistics, other key investment sectors include hi-tech agriculture, food processing, renewable energy, the supporting industry, healthcare, education, infrastructure, and tourism, among others. Bilateral trade between the two countries has grown … [Read more...] about Viet Nam to enhance competitiveness of logistics sector

The groundbreaking ceremony for Viet Nam's first and largest green hydrogen factory in the Mekong Delta province of Tra Vinh. — VNA/VNS Photo TGS Tra Vinh Green Hydrogen Company, a member of The Green Solutions Group, on Thursday started construction of Viet Nam's first and largest green hydrogen factory in the Mekong Delta province of Tra Vinh’s Duyen Hai District, with the total investment of VND8 trillion (US$341 million). Covering an area of 21ha, the project is expected to become operational after two years, initially producing 24,000 tonnes of green hydrogen and 195,000 tonnes of oxygen a year. It would provide direct jobs for 300-500 local residents. Tra Vinh Province's People’s Committee Chairman Le Van Han said the locality always accompanies investors during the implementation, creating all favourable conditions for the project to be completed on schedule and put into operation soon. The investment in a green hydrogen factory project in the area helps the province … [Read more...] about Work starts on Viet Nam’s first green hydrogen plant