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Hanoi – A regional information platform for energy transition SIPET, targeted at professionals, has been launched by the Clean, Affordable, and Secure Energy for Southeast Asia (CASE) to facilitate dialogue and promote coordination in the region’s power sector to support the acceleration of the energy transition in the region. A wind power farm in the Mekong Delta province of Bac Lieu. (Photo: VNA) Energy demand is projected to grow by 80 percent by 2050. Indonesia, the Philippines, Thailand, and Vietnam represent nearly three-quarters of total power generation in Southeast Asia; therefore, the ability of the region to meet its development goals largely depends on the countries’ current and future energy choices. Yet, energy transition stakeholders in Southeast Asia have highlighted in a survey a series of common challenges: a lack of institutional capacity; a lack of platforms for timely information and intelligence sharing; excessive time spent in coordination; and … [Read more...] about Southeast Asia’s information platform for energy transition debuts

In light of the company’s fresh trajectory, next year HAGL would launch into the market with around 1,000 stores selling pork products from banana-eating pigs, of which franchised stores are accounting for 80 per cent. HAGL's Bapi brand aims to enhance customers' experience Since the economic downturn back in 2008, Vietnam’s real estate market weathered stormy times. In late 2012, HAGL chairman Doan Nguyen Duc took a breakthrough decision of pivoting from real estate to planting rubber. By 2012, the company posted revenue touching $159.4 million from real estate, construction, and mineral sale segments, making up 83 per cent of its total revenue. Thus, albeit these segments proved their core line, the company decided to pivot to a new area. By 2014, its revenue witnessed a change with agricultural products such as sugar, corn, and rubber, contributing $64 million or 48 per cent of total revenue. The company’s captain Duc noted that HAGL’s development has … [Read more...] about Suspicion over Hoang Anh Gia Lai Group’s long-term growth trajectory

The first sample of chip made by FPT semiconductor. — Photo courtersy of FPT Viet Nam’s leading ICT company FPT Software has launched a new subsidiary, FPT Semiconductor, marking a key milestone for the company as it enters the booming semiconductor industry. Through the new subsidiary, FPT Software aims to gain a slice of Asia Pacific’s semiconductor market which accounts for 60 per cent of global sales. FPT Semiconductor released its first integrated circuits (ICs), designed in Viet Nam and manufactured in South Korea, in August 2022. These ICs will be used in Internet of Things (IoT) medical devices. By 2023, FPT Semiconductor plans to supply 25 million chips globally in seven types to meet diverse needs in telecommunications, IoT, automotive technology, energy, electronics, and others. According to a Technavio report, Viet Nam's semiconductor industry is estimated to exceed US$6.16 billion by 2024. FPT Semiconductor aims to become a supplier of Vietnamese brand chips for … [Read more...] about FPT Software produces made in Viet Nam chips

The death toll from Hurricane Ian climbed past 80 on Sunday as embattled residents in Florida and the Carolinas faced a recovery expected to cost tens of billions of dollars, and some officials faced criticism over their response to the storm. The death toll was expected to keep rising as floodwaters receded and search teams pushed farther into areas initially cut off from the outside world. Hundreds of people have been rescued as emergency workers sifted through homes and buildings inundated with water or completely washed away. At least 85 storm-related deaths have been confirmed since Ian crashed ashore Florida's Gulf Coast with catastrophic force on Wednesday as a Category 4 hurricane with maximum sustained winds of 150 miles per hour (240 km per hour). A destroyed car is seen in the Matanzas Pass after Hurricane Ian caused widespread destruction in Fort Myers Beach, Florida, U.S., October 1, 2022. Photo: Reuters Florida accounted for all but four of the … [Read more...] about Hurricane Ian death toll climbs to 83, officials defend response

The largely innocuous but soggy remnants of Hurricane Ian drifted through Virginia early on Sunday, leaving in their wake storm-ravaged residents in Florida and the Carolinas facing a disaster recovery expected to cost tens of billions of dollars. The storm's toll on human life also was expected to rise as floodwaters receded and search teams pushed farther into areas initially cut off from the outside world, seeking stranded survivors and the remains of anyone who may have perished. At least 50 storm-related deaths have been confirmed since Ian crashed ashore Florida's Gulf Coast with catastrophic force on Wednesday as a Category 4 hurricane, packing maximum sustained winds of 150 miles (240 km) per hour. Florida accounted for the bulk of fatalities, with 35 tallied by the sheriff's office in coastal Lee County, which bore the brunt of the storm when it made landfall, and 11 other deaths reported by state officials in four neighboring counties. A destroyed marina … [Read more...] about Hurricane-ravaged Florida, Carolinas face daunting recovery

A customer at an HDBank office in Ha Noi. The SBV raised the cap of credit growth quota for 15 banks including HDBank in early September. — VNA/VNS Photo Businesses have faced difficulties in access to capital and commercial banks want to be able to lend freely to meet market demand. However, experts said the imposition of the credit growth cap is still necessary to keep the country’s macro economy stable in the short run. The credit growth quota regime was officially deployed in 2011 when Viet Nam’s economy was experiencing hyperinflation stemming from excessive money supply. The credit growth quota regime, putting a cap on the banking industry’s credit expansion, was announced by the State Bank of Vietnam (SBV) at the beginning of each year. Based on the credit growth quota for the entire banking industry, the SBV will determine the credit growth for each commercial bank depending on its financial health, with indicators including capital, asset quality, governance, business … [Read more...] about Credit growth cap remains indispensable for macroeconomic stability