VietNamNet Bridge - Renovating technology, reducing greenhouse gas emissions and developing a low-carbon economy are methods being used by coastal EZs in the new development period. Coastal EZs are striving for low-carbon economy The Vietnam Marine Strategy, released by the Party Central Committee in 2007, says that coastal EZs will make up 53-55 percent of the country's total GDP. Emissions increase Huge investment projects include Dung Quat Oil Refinery and the Doosan Vietnam heavy industry complex in Dung Quat EZ, the Chu Lai – Truong Hai automobile – mechanical engineering complex in Chu Lai Open EZ, and the cement and thermopower plants in Nghi Son EZ. According to the Coastal EZ Management Board, the total CO2 emissions from industrial and agricultural production and services in coastal economic zones in 2010 was 7.42 million tons, or 4.06 tons of CO2 per head. The emissions were mostly from thermal power plants. RELATED NEWS VN yet to sow seeds of low … [Read more...] about Coastal economic zones strive for low-carbon economy
Economy
Vietnam economy grows at best rate in a decade
Vietnam's economy saw its strongest first-quarter growth in a decade, data showed on Thursday (Mar 29), driven by a surge in electronics manufacturing and exports. While agriculture and wholesale and retail trade have seen steady rises, manufacturing remains a the pillar of Vietnam's growth. (Photo: AFP/Hoang Dinh Nam) The reading comes as the communist country is poised to expand its overseas markets after signing an 11-nation Asia-Pacific trade deal this month that replaces the Trans-Pacific Partnership (TPP), scrapped by the US last year. Observers said a spike in exports was a promising sign that Vietnam's market has not been dented by US President Donald Trump's protectionist agenda. The 7.38 per cent GDP expansion in January-March was sharply up from the rate of just over five per cent seen in the same period last year, according to the Government Statistics Office, and well above the government's annual target of 6.7 per cent. The figures are the best since a 7.40 per … [Read more...] about Vietnam economy grows at best rate in a decade
ICAEW: Moderate growth forecast of 5 per cent for ASEAN economies
Economic growth in Southeast Asia is expected to be moderate this year, as it is unlikely to match the exceptional momentum in 2017, according to ICAEW’s latest Economic Insight: Southeast Asia report. For ASEAN, growth is forecast to come in at 5 per cent, underpinned by drivers like private sector investment and domestic demand. Southeast Asia's economic growth will be moderate this year Given the large export-orientated manufacturing base of most Asian economies, the recent resurgence in global trade has largely benefitted the region in 2017. With firms ramping up production and investment to accommodate rising external demand, import growth has nonetheless accelerated over the last 12 months, making net exports' contribution to growth insignificant. Instead, exports' most important contribution to growth is their indirect impact on domestic demand through spill-over on investment and consumption. At the aggregate level, most open economies in Asia have … [Read more...] about ICAEW: Moderate growth forecast of 5 per cent for ASEAN economies
Thailand to become technology, innovation-driven economy
He chaired the opening of the CEO Innovation Forum 2018 under the title “Transforming Thailand Towards Science & Technology Frontier," which was organised at Queen Sirikit Convention Center by the National Science, Technology and Innovation Policy Office (STI).In his keynote address, Somkid said science and technology play an ever-increasing role in the economy and society, and the country must therefore stimulate science and technology investment.Source: InternetOver the past two years, Thailand's annual GDP growth rate increased from 2.8 percent to 4 percent. There are signs of further growth, due mainly to the tourism and export sectors, as well as domestic and foreign investments.The government's Thailand 4.0 agenda focuses on economic mobility using science, technology, and innovation to coincide with rapid changes in science and technology trends, such as changes in raw materials and production streamlining.According to the deputy premier, the Ministry of Science and … [Read more...] about Thailand to become technology, innovation-driven economy
More optimistic outlook for Vietnamese economy in 2018
Illustration photo According to the Viet Nam Economic Seminar which was held on March 19 in HCMC, Viet Nam was forecast to benefit from positive influences from the outside world. In Asia, Japan is one of the leading economies that rebounded in the two consecutive years after nearly two decades of recession. The concern over “hard landing” in China has yet caused much trouble. The EU has escaped from the ‘hardest’ period of time. Similarly, the U.S. economy witnessed a series of policy amendments which encourage and support the business community. Meanwhile, labor costs in emerging economies including Viet Nam remain low. The aforesaid factors were projected to influence other economies especially Viet Nam which has deeply integrated into the global economy. Dr. Vu Vien Ngoan, Head of the PM’s Economic Advisory Group was quoted as saying that in Viet Nam, business confidence has been improved. Macro-balances were … [Read more...] about More optimistic outlook for Vietnamese economy in 2018