Iucn categorized major threatened species under

EVN workers examine electricity facilities (Photo: VNA) The Vietnamese government’s permission for private companies to invest in and build power plants and transmission systems became a big step forward, bringing competition in the energy sector to a manageable level. The first 500kV super-high voltage power transmission line invested by Trungnam Construction and Investment JSC has been operating stably for more than a year. Trungnam’s project includes a 500kV substation and transmission lines combined with a 450MW solar power plant, promoting its advantages when participating in the power grid of Ninh Thuan province and the south-central coastal region. Pham Nhu Anh, member of the Executive Board of Military Bank, which arranged capital for Trungnam to invest in transmission infrastructure, pointed out that capital is still a bottleneck in Vietnam’s electrical infrastructure development. According to Anh, the fact that Electricity of Vietnam (EVN) still holds a monopoly on … [Read more...] about Transmission boost to remove major power bottlenecks

The United Nations Development Programme (UNDP) last week again warned that the ocean is faced with increasing threats and multiple risks posed by climate change, natural disasters, environmental pollution, over-exploitation of natural resources, and unsustainable economic activities. “Global warming and marine litter are threatening marine resources, including widespread bleaching of coral reefs. Globally, an estimated 8-20 million tonnes of plastic enter the ocean every year. In Vietnam, around 2,000 tonnes of plastic waste leaks from the country into the ocean every day. It is estimated that there will be more plastic than fish in the ocean by 2050,” said Caitlin Wiesen, resident representative in Vietnam of the UNDP. The global ocean economy contributes an estimated $3 trillion per year, or about 5 per cent of the world’s GDP and comprises industries ranging from oil and gas, shipping and ports to renewable energy, fisheries, marine ecosystems and tourism. The value of the … [Read more...] about Blue economy model gathering pace

The speech, themed “Sincerity, trust and responsibility for a better world,” focused on how Vietnam sees the world today, the role of sincerity, trust and responsibility in a turbulent world, and what the country needs to do in order to demonstrate sincerity, and bolster trust and responsibility, for a better world. It underlined Vietnam’s willingness to cooperate with the international community to deal with issues that all countries, small or large, rich or poor, have to settle together, while affirming in a world full of turbulence, strategic competition and a great many choices, Vietnam picks no side. “Instead it chooses justice, fairness and goodness, based on the principles of international law and the U.N. Charter. It chooses equality, shared benefits for all, and win-win for all.” Gregory B. Poling, Director of the CSIS’s Southeast Asia Program and Asia Maritime Transparency Initiative, said that the Vietnamese PM’s speech conveyed important and comprehensive messages, and … [Read more...] about U.S. experts laud PM Chinh’s speech at CSIS

The trip has contributed to promoting the relations between the Association of Southeast Asian Nations (ASEAN) and the U.S., and between Vietnam and the U.N. and the U.S., while affirming Vietnam’s role and prestige in the international arena. During his week-long stay in the U.S., the PM visited the four cities of Washington D.C, Boston, New York, and San Francisco, with more than 50 activities. He attended and delivered speeches at the summit, and met with ASEAN leaders, including his counterparts from Laos, Cambodia and Singapore, and the Indonesian President. Chinh also had meetings with U.N. Deputy Secretary-General Amina J. Mohammed, UNICEF Executive Director Catherine Russel, President of the U.N. General Assembly Abdulla Shahid and Administrator of the U.N. Development Program (UNDP) Achim Steiner. He met President Joe Biden, and received senior officials of the U.S. government such as Secretary of State Antony Blinken, Secretary of Commerce Gina Raimondo, Secretary of … [Read more...] about Prime Minister Pham Minh Chinh concludes U.S. trip

An overview of the event to launch the report (Photo: WB) Hanoi (VNA) - For Vietnam to realise its aspiration for reaching high income status by 2045, the country will need to shift its economic growth model and sharply improve the government’s capacity to coordinate and implement economic policy reforms and public investments, a World Bank Group report says. The World Bank Group ’s Systematic Country Diagnostic Update , entitled "How Will Vietnam Blossom? Reforming Institutions for Effective Implementation”, emphasises that Vietnam's traditional growth model faces major challenges from the COVID-19 pandemic, slowing globalisation, and the country’s increasing vulnerability to external shocks, especially climate risks. After identifying a series of policy responses and reform priorities, many of which are not new, the report argues that adapting institutions will be the key to success. Vietnam’s GDP per capita has increased five fold over the past three … [Read more...] about Vietnam should shift economic growth model for further development: WB report

In 2000, the canal that flows two kilometers through Districts 5 and 6 was filled up following heavy pollution and serious encroachment. By then, the canal spread only two kilometers wide with blackish and stinky water. To continue its drainage function, a concrete box culvert was installed. Fifteen years later, the city decided to recover the canal with a three-phase project that cost VND2 trillion ($86.2 million) to build a drainage system and relocate affected households. The project was to complete in 2020 but got delayed. In 2020, a section 200 meters long and 14-16 meters wide in District 6 was revived, with the two banks turned into a park. At a section meeting Lo Gom Canal in District 6, work has been deployed to establish a water pumping station. To revive the canal, more than 24,000 cubic meters of soil and rock has been dug up. Around one kilometer away, a section 100 meters long between Chu … [Read more...] about HCMC revives polluted canal with $86.2-million project

Shannon Leahy, trade commissioner for Austrade, and general director of BRG Retail Nguyen Thi Thanh Thuy. Photo: Austrade Australia is one of Vietnam’s major suppliers of beef ad lamb products. Local consumers can enjoy a growing range of Australian products from fresh fruits, dairy, seafood, and beverages including a diverse range of sparkling, red, and white wines. Cherries, citrus, table grapes, milk, yoghurt, cheese, cereals, juices, rock lobsters, and abalone are just some of the beloved Australian products that have made it into Vietnamese stores, restaurants, and homes. General director of BRG Retail Nguyen Thi Thanh Thuy said, “Vietnamese consumers increasingly demand clean, fresh, and delicious products with premium quality and transparent origins regardless of if they are eating out or at home. Australian suppliers can offer exactly what they want, including high-quality sustainable meat, delicious fruits, the finest dairy and cereals, and premium seafood … [Read more...] about Vietnamese consumers’ growing interest in Australian F&B products

Lenders reinforcing presence with bond issuance, Photo Shinhan Bank Vietnam Shinhan Bank Vietnam last week successfully issued bonds totalling VND2.8 trillion ($121.7 million), with a tenor of two years. CEO Kang Gew Won explained to VIR, “This is the first time that Shinhan Bank Vietnam has issued bonds in the Vietnamese market. This offering reinforces Shinhan Bank’s long-standing relationship with Vietnam. Our bank will use these proceeds from the bond sale to expand the bank’s credit activities, diversify its capital sources, serve its business objectives, and also ensure the bank’s long-term development.” On April 20, Shinhan Bank Vietnam also formally announced the use of the liquidity reserve ratio and net stable capital ratio in liquidity risk management, in accordance with Basel III standards. In recent times, the bank has been continuously assigned a BB rating by Standard & Poor’s, with a “Positive” outlook. Prior to Shinhan Bank, HSBC Vietnam became the … [Read more...] about Lenders reinforcing presence with bond issuance

Hoang Viet Tien-Head of Strategic Advisory, Insider Mobile games and e-sports account for a major share of the blockchain sphere, and in addition to the play-to-earn wave from blockchain games, new waves are coming such as SocialFi (earning income through social activities), CALO (exercise to collect utility tokens), and Genopets (nurture and evolve Genopes to train and battle for rewards). A new report by DappRadar and the Blockchain Game Alliance suggests that 2022 will be a benchmark year for crypto games developers. The report reveals that $2.5 billion in investments were raised in Q1 alone this year, adding that developers could see this figure balloon to $10 billion by the end of the year. Compared to previous years, these figures also suggest the niche has become a key sector for investors. In 2021, for example, just $4 billion was raised throughout the whole year. In Vietnam, there are about 3.99 million gamers and more than 60 per cent are between the ages of 18 and … [Read more...] about Staying safe in the booming blockchain and GameFi world

Jens Olaf Økland, Equinor’s senior vice president Why did Equinor choose now to open an office in Hanoi? We believe it is very timely to open an office now. Vietnam is one of the world’s fastest-growing economies and power markets. With its long coastline and favourable wind conditions, the country has among the best wind resources in Asia and a strong desire to develop an offshore wind market. The country is on a path to becoming net-zero and offshore wind can enable this transition. We believe Vietnam has a high potential to become an interesting growth market for offshore wind and have therefore opened a representative office in Hanoi. Vietnam has set ambitious targets for offshore wind both for 2030 and 2045 which would result in Vietnam being one of the top offshore wind markets globally. The end of the decade is not that far away and a lot of things still need to come into place, both on the regulatory side and for the industry, but this is also natural in the … [Read more...] about Equinor reaffirms entry in Vietnam’s offshore wind