World bank data

Vietnam will likely face a power shortage during 2020-2030 if electricity generation is not increased and there is not enough fuel (coal and gas) for generation. It is forecast that the demand for electricity will continue to grow at a high level until 2030. The power sector will need to ensure 265-278 billion kWh of output by 2020 and around 572-632 billion kWh by 2030. The growth rate in the 2016-2020 period will be 10.3-11.3 per cent per year and about 8-8.5 per cent between 2021 and 2030. Insufficient power supply could lead to a heavier reliance on imported fuel, especially in power generation, while the higher demand would also place greater pressure on power infrastructure, which might not be improved quickly enough due to lack of funding. In addition to these challenges, Vietnam could face greater environmental impacts from an increased demand and a higher proportion of fossil fuels, especially coal in the energy mix. With the country’s energy demand projected to increase … [Read more...] about Solar rooftop panels ease thirst for power

The cooperation between banks and fintech firms is fundamentally changing the way the financial sector operates. “Without fintech, commercial banks’ Mobile Banking won’t be able to develop as seen today,” said Pham Tien Dung, director of the State Bank of Vietnam’s Payment Department. Fintech is present in many financial products, from the products for terminal users such as e-wallet, to products supporting the operation of financial institutions such as smart technology services and blockchain. The systems help reduce the cost of financial services, eliminate intermediaries and help financial services reach the most efficient level. The data control, information security and safety for customers and financial institutions have been upgraded significantly thanks to fintech. Mai Lan HCM City could become fintech hub: experts HCM City, the country’s commercial hub, has the potential to become a fintech hotspot of the country and region, … [Read more...] about Banks and fintechs: the new and powerful union

Đặng Hùng Võ, former Deputy Minister of Natural Resources and Environment. Photo VGP Báo Chính Phủ (Government Newspaper) talks to Đặng Hùng Võ, former Deputy Minister of Natural Resources and Environment, about solutions to unleash the private sector’s potential, following an article written by Prime Minister Nguyễn Xuân Phúc to promote harnessing resources to create a driving force for Việt Nam’s growth. How much does unleashing the potential and fully utilising the country’s resources matter to Việt Nam? Utilising resources – including land, human resources, financial resources and technology – determines the speed and quality of economic growth in all countries. Take land for example. Land fee collections in Việt Nam only account for 20 per cent of local governments’ revenues, while the rate in industrialised … [Read more...] about Fairness must be guaranteed in use of natural resources

  Kaxton Yu-Kwan Siu, of the Hong Kong Polytechnic University’s Department of Applied Social Sciences, speaks at the “Migration and Labour in Việt Nam” international conference yesterday in HCM City. VNS Photo Bồ Xuân Hiệp HCM CITY — Improved international regulations and standards to protect the rights and welfare of migrants, including thousands of Vietnamese guest workers, are needed in today’s globalised world, speakers said at an international conference on migration and labour held yesterday in HCM City. Labour migration is a highly fluid phenomenon in the 21st century, capturing public attention and driving political controversy globally, Prof Kaxton Yu-Kwan Siu, of the Hong Kong Polytechnic University’s Department of Applied Social Sciences, said. “There are more and more labour migrants working in areas beyond their birth country or region than ever before,” he … [Read more...] about Việt Nam seeks to protect migrants’ rights

Editor's note: Naina Batra is the chairperson and CEO at the Asian Venture Philanthropy Network, a Singapore-based non-profit that has offices in 13 countries around the world, including Vietnam. AVPN has over 487 members from 32 countries and undertakes field building activities in Asia while providing a range of networking and learning services to support its members and followers to create meaningful social impact.   Most consumers are not aware of the ill impacts of plastic or how to recycle. At-source separation of waste is minimal and while this is changing in some parts of the country, the scale and level of success are still unknown. Overall, financial and technical support in plastic waste management is insufficient. Investment in modern recycling facilities will require private sector participation. However, many challenges exist in coordinating multi-stakeholder cooperation. For instance, public-private partnership projects that exceed more than … [Read more...] about Situational context, bottlenecks of plastic waste management in Vietnam