Vu Duc Giang, secretary general of the Vietnam Textile and Apparel Association (VITAS), says high production cost is a weakness of Vietnamese textile and garment enterprises. In addition to objective causes for higher costs, the industry’s production technology is also to blame. Many enterprises are still using old and energy inefficient equipment and machinery. For example, half of all knitting and dyeing equipment in the industry was procured before 1996.According to a VITAS representative, automatic, energy efficient technology application has become a necessity in the context of the Fourth Industrial Revolution. The awareness of enterprises regarding the importance of energy efficient technology needs to be improved to reduce production costs.Data from the US Agency for International Development (USAID) show that energy costs account for about 15 percent of Vietnamese businesses’ total production costs.The Ministry of Industry and Trade of Vietnam has assessed that the … [Read more...]
Vietnam, France Boosting Renewable Energy Cooperation
Vietnam, France Boosting Renewable Energy Cooperation Vietnam’s energy consumption is forecast to rise by 12 percent in the next decade and the demand in 2030 is projected to be quadruple that in 2005, according to experts. This is a grave challenge and burden for the Vietnamese economy, because its budgets for electricity grid maintenance and repair are very modest. The Workshop on “Supporting renewable energy development - Sharing experiences between France and Vietnam" was held under the auspices of the Ministry of Industry and Trade of Vietnam and the Embassy of France in Vietnam with the close collaboration of the French Agency for Development (AFD), the French Environment and Energy Management Agency (ADEME) and the French Renewable Energies Association (SER). Seven French renewable energy investors also attended the event. Addressing at the meeting, both Vietnamese Deputy Minister of Industry and Trade, Le Duong Quang, and French Ambassador to Vietnam, J.N … [Read more...]
Applying expertise for local sustainable energy industry
As Vietnam is looking at suitable solutions to reduce emissions and increase the efficiency of the country’s power plants, Jim Vono, general manager of GE’s Power Services in Asia Pacific, told VIR’s Hoang Anh how the company is working to satisfy this urgent need. How do you evaluate the demand for services and upgrades of current power plants in Vietnam? Vietnam is one of the fastest growing economies in the world, averaging an annual GDP growth rate of more than 6 per cent and an annual electricity generation growth of 8 per cent in the last five years. To meet the high demand for electricity, Vietnam’s Power Development Plan VII laid out plans to increase installed generation capacity from 33 gigawatts (GW) in 2015 to 130GW by 2030. Vietnam has a wide variation in their fleet of assets and fuel sources for … [Read more...]
Major tasks and solutions for improving the business environment and national competitiveness
GOVERNMENT No. 19/NQ-CP SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness --------------------------- Ha Noi, March 18, 2014 RESOLUTION On major tasks and solutions for improving the business environment and national competitiveness GOVERNMENT Pursuant to the Law on Organization of the Government dated December 25, 2001; Pursuant to the Resolution 10/2011/QH13 dated November 08, 2011 of the National Assembly on the five-year socio-economic development plan for the 2011-2015 period; Pursuant to the Resolution 10/NQ-CP dated April 10, 2012 issuing the Government’s Action Plan to realize the socio-economic development strategy for the 2011-2020 period and the five-year orientations and tasks of the national development in the 2011-2015 period; Based on discussions among the Cabinet members and the conclusion of the Prime Minister at the Government’s regular meeting in February 2014, RESOLVES: Over the past years, our … [Read more...]
Key solutions for directing the implementation of the social-economic development plan and State budget estimate in 2012
GOVERNMENT _________ No: 01/NQ-CP SOCIALIST REPUBLIC OF VIỆT NAM Independence - Freedom - Happiness ___________________ Hà Nội, January 03, 2012 RESOLUTION Key solutions for directing the implementation of the social-economic development plan and State budget estimate in 2012 Despite many difficulties and challenges in 2011, the national economy has, as guided by the sound leadership of the Communist Party and drastic measures taken by the Government, as well as fuelled by efforts exerted by sectors and agencies of all levels, the business community and people, moved positively and obtained an array of significant achievements in curbing inflation, stabilizing the macro-economy, and ensuring social welfare. These included an economic growth rate of at about 6%; agriculture developing stably; food output making a new record high; industrial production increasing fairly; service and tourism sectors continuing with their growing trend. Export turnover saw a three fold rise over … [Read more...]
Key solutions for implementation of socio-economic development plan and State budget estimate in 2011
GOVERNMENT _______ No: 02/NQ-CP SOCIALISTREPUBLICOF VIỆTNAM Independence- Freedom - Happiness _______________ Hà Nội, January 9, 2011 RESOLUTION Key solutions for directing and managing the implementation of socio-economic development plan and State budget estimate in 2011 In 2010, despite of various difficulties and challenges, Việt Nam gained significant achievements in economic growth, macro-economic stability, poverty reduction, while social welfare, environment protection, administrative reform, socio-political stability, national defense and security, diplomatic work and the country's international status were strengthening, thanks to the Party's cohesive leadership, the Government's decisive and effective management and direction, as well as the endless efforts and consensus of ministries, sectors, business community and the entire people. Many socio-economic objectives and norms of 2010 have been reached or passed the preset targets, significantly contributing to the … [Read more...]
Major solutions guiding and directing the realization of the Plan for socio-economic development and state budget estimate in 2013
GOVERNMENT ________ No. 01/NQ-CP SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness Ha Noi, January 07, 2013 RESOLUTION On major solutions guiding and directing the realization of the Plan for socio-economic development and state budget estimate in 2013 _____________ In 2012, the economy faced a number of difficulties and challenges during the period when the world economy experienced complicated and unpredictable changes. However, thanks to the leadership of the Party, the drastic direction of the Government, great efforts of sectors, business community and people at all echelons, our national economy continued to progress and gained significant results in curbing inflation, maintaining macro-economic stability and social security: inflation rate was kept at 6.81%; export continued to grow up, contributing to better import-export balance; monetary, credit and financial balances were maintained; foreign exchange market and exchange rate were stabilized; foreign … [Read more...]
Viet Nam’s largest technology centre opened
The capital city of Ha Noi officially inaugurated a centre on researching, transferring and assessing technology at Hoa Lac Hi-tech Park on Thursday. The infrastructure and equipment systems at the research centre for technology transfer and assessment, which was inaugurated at the Hoa Lac High-tech Park in Ha Noi yesterday. — VNA/VNS Photo Anh Tuan HA NOI (Biz Hub) — The capital city of Ha Noi officially inaugurated a centre on researching, transferring and assessing technology at Hoa Lac Hi-tech Park on Thursday. The 2.1- hectare centre with an investment capital of up to VND600 billion (US$27 million) will be the largest technology complex in the country consisting of research, manufacturing and assessment on technology. The inauguration is one of the key events of Ha Noi to celebrate its Party Congress as well as confirming the rapid developments in the field of science and technology in the capital city. The centre is designed for 200 scientists working in … [Read more...]
Bank to sustain 10% credit growth
Farmers in the northern mountainous Ha Giang Province's Bac Quang District build a biogas system. Clean energy is one of the areas that the Viet Nam Development Bank will focus its credits. — VNA/VNS Photo Dinh Hue HA NOI (VNS)— The Viet Nam Development Bank (VDB) will reach an average credit growth rate of about 10 per cent per year between now and 2020, according to the bank's medium-term strategies approved late last week by Prime Minister Nguyen Tan Dung. Such a growth rate will ensure financial safety and consolidate the sustainability and efficiency of a bank which does not target profits to implement Government policy lending. Any profit will be used to guarantee the bank's capacity to carry out investment and export lending policies and other tasks assigned by the Government to help fulfill the nation's socio-economic development strategies and plans in different periods. According to the approved plans, the VDB will build a roadmap to increase its charter capital … [Read more...]
APEC standards sub-committee discusses smart cities and e-labelling
Delegates take a group photo at the workshop. – VNS Photo Thu Ngan Developing standards systems in addition to connecting and sharing experiences with members will help APEC economies successfully develop smart cities, heard a workshop on “Best practices sharing of standards and conformity assessment implementation on smart cities in APEC region” held in HCM City on Friday. Hosted by Viet Nam’s Directorate for Standards, Metrology and Quality (STAMEQ), the conference was one of the first two of the Sub-committee on Standards and Conformance (SCSC) on the opening day of SOM 3. The workshop, an initiative by Viet Nam that was approved at SOM 1, aimed at connecting APEC members and promoting and sharing the application of standards and conformity assessment of products, services and management systems related to the sustainable development of smart cities in APEC. More than 100 delegates took part in … [Read more...]