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Making net zero targets a reality would require practical solutions toward massive cuts in GHG emissions, especially in industries with high emission. In its latest report, Dream Incubator (DI) shows the causes of emission and possible directions for emission mitigation in top-emitting industries in Vietnam. For Vietnam, electricity generation, rice cultivation, and road transportation should be tackled as the top emitters with alarmingly elevated growth rates. Electricity generation has largely been known as the No.1 contributor to GHG emission in Vietnam, with coal being the most common cause. To mitigate emissions from coal-fired power plants, one solution is to encourage more renewable sources, most notably wind and solar. However, renewable energy developers are now struggling with the expiry of feed-in tariffs (FiT) scheme. Even though it is not yet official, Vietnam seems to be moving towards an auction scheme based on recent comments from government officials. To … [Read more...] about Innovating towards net zero: energy, rice, and transportation in Vietnam

EVN has asked to raise the power price Deputy Minister of Industry and Trade Do Thang Hai said that input costs for electricity production had increased throughout the world, the region, and Vietnam, at the sidelines of the governmental press conference on December 1. According to EVN, the corporation reported a loss of $695.6 million in the first half of the year and is estimated to lose $1.35 billion over the whole year. Accordingly, EVN has just asked for the adjustment of the power selling price, and the Ministry of Industry and Trade (MoIT), the Ministry of Finance, and the Committee for Management of State Capital at Enterprises were considering the proposal. "The costs of electricity production have increased, so we should adjust the retail price. However, we are considering the rate of the rise and will then propose it to the competent authorities for approval," said Hai. Without revealing the ratio of increase under EVN's proposal, the deputy minister said that … [Read more...] about EVN makes request to raise power price

Joint venture between Vinamilk and Kido disbanded Vietnam Dairy Products JSC (Vinamilk) and Kido Group JSC have just announced the suspension and dissolution of the joint venture Vibev . Vinamilk said the Vinamilk – Kido Beverage Joint Venture Company (Vibev) was terminated because of certain changes in the development perspective of both parties. Kido's side added that unpredictable changes in the domestic market and global economy were also a factor. Vibev registered its establishment in March 2021 and started out with an investment of $17.4 million. Vinamilk contributed $8.9 million as the controlling power, while Kido gave $8.5 million. Mai Kieu Lien, CEO of Vinamilk , said then that the collaboration stemmed from the two companies seizing mutually beneficial opportunities. Both had the capacity in manufacturing plants, product research and development, business administration and management, and strong financial resources, so they would bring common areas into the … [Read more...] about Vinamilk and Kido joint venture disbanded

Speakers at the Viet Nam Wind Power in Ha Noi. — Photo courtesy of the organiser Viet Nam boasts substantial potential for wind power, particularly offshore wind power, providing an opportunity for the country to fulfil its energy transition target towards green growth. That was the message heard at a conference held by the Global Wind Energy Council (GWEC) which was wrapped up in Ha Noi on Friday. Viet Nam Wind Power (VWP22) is an official industry event organised by the GWEC since 2018. It provides a platform for the Government and the sector to discuss pressing issues around the development of wind energy in Viet Nam. Viet Nam is one of the best wind resource countries in the world. The draft Power set the target of 7GW of offshore wind and 21GW of onshore wind by 2030. The wind power sector is ready and able to achieve this goal and help Viet Nam strengthen its energy security, improve its trade balance and the economy’s sustainability as well as its international … [Read more...] about Viet Nam has opportunity for energy transition towards green growth

As approved at the Politburo meeting chaired by Party chief Nguyen Phu Trong, Ho Chi Minh City will enjoy extra autonomous decision-making power until the end of next year as a measure to help it develop to its full potential. The Politburo noted that the city has recorded important achievements in socio-economic development, national defense and security. The economic size of the city in 2020 was 2.7 times higher while its gross regional domestic product per capita was double that of 2010. The city has continued to adopt innovate growth models and improve application of science and technology and restructure its economy in the right direction. As a result, its annual budget collection has always exceeded the plan, the Politburo noted. However, it also said that the city has not fully exploited its potential and development advantages, and therefore its recent economic growth rate has slowed down compared to the previous period. The progress made in improving its investment … [Read more...] about Party agrees to extends pilot autonomy scheme for HCMC

These agreements will allow the development of carbon markets that are ecologically sustainable and beneficial to Vietnam. The six multi-stakeholder partnerships, supported by an investment of $3.3 million from DFAT, will leverage more than $3.7 million in private sector investment and resources towards improving the enabling environment for carbon market projects in Vietnam that can deliver verifiable and sustainable social and environmental outcomes. The new collaborations will test and evaluate novel techniques inside voluntary market frameworks to cut greenhouse gas emissions, lower carbon market entry barriers for producers, create capacity among local stakeholders, and offer major social benefits. "Australia is ambitious about what we can do with Vietnam and the region in facing the problems of climate change," said Chargé d'Affaires Mark Tattersall. "These new BPP Carbon Markets collaborations are part of Australia's commitment to supporting greater climate action in our … [Read more...] about Australia promotes carbon market collaborations

Vietnamese State President Nguyen Xuan Phuc will start a three-day visit to South Korea on Sunday, during which he will attend the Vietnam-South Korea Business Forum, which will gather a large number of business delegates from both countries. Phuc, his spouse, and an entourage will visit the Eastern Asian country from December 4 to 6, at the invitation of South Korean President Yoon Suk Yeo, the Vietnamese Ministry of Foreign Affairs announced on Thursday. The visit will mark Phuc’s first to South Korea as a state president and also the first by a Vietnamese state head to this nation after 11 years, according to the foreign ministry. For South Korea, Phuc is the highest-ranking Vietnamese leader that the country will welcome after Yoon took office in May. During his stay in South Korea, President Phuc will hold talks with his counterpart Yoon, and meet Prime Minister Han Duck Soo as well as National Assembly Speaker Kim Jin Pyo. The Vietnamese leader will also attend and … [Read more...] about Vietnamese State President Nguyen Xuan Phuc to visit S.Korea this weekend

Natural and man-made catastrophes have caused $268 billion of economic losses so far in 2022, chiefly driven by Hurricane Ian and other extreme weather disasters, reinsurance giant Swiss Re estimated Thursday. Insured losses covered $122 billion -- less than half -- of the total economic losses to date this year, said the Zurich-based group, which acts as an insurer for insurers. "Hurricane Ian and other extreme weather events such as the winter storms in Europe, flooding in Australia and South Africa as well as hailstorms in France and in the United States resulted in an estimated $115 billion of natural catastrophe insured losses this year to date," Swiss Re said in a statement. There were $7 billion of insured losses from man-made disasters. It is the second consecutive year in which total insured losses from natural catastrophes topped $100 billion, with the figure hitting $121 billion last year. "Urban development, wealth accumulation in disaster-prone areas, inflation … [Read more...] about Disasters cost $268 billion in 2022: Swiss Re

The district has paid attention to economic development, building infrastructure and urban areas and restructuring the local economy in the direction of rapidly increasing the proportion of industry and services. With the interest of all levels, the efforts of the local political system, the drastic and effective management of the district people’s committee and the active role of agencies, the district has seen significant changes. Khoai Chau District Party Committee The district’s production value saw an increase of 9.93 percent, reaching VND17.112 trillion. Of the total, industry, handicraft and construction increased by 9.83 percent, while trade and services surged by 12.72 percent. Many sectors saw recovery, ensuring sufficient supply for domestic consumption and exports. The purchasing power has been increasing, while trade and services have seen positive development. The district has done well the preparation of goods, contributing to the balance of supply and … [Read more...] about Khoai Chau District aims to become a town

Joint efforts over 60 years have placed Cuc Phuong National Park among the leading natural reserves and the candidate site for the International Union for Conservation of Nature (IUCN) Green List. Cuc Phuong National Park, the first of its kind in Vietnam, celebrated the 60th anniversary of its establishment today [December 2], one of the most important sites for biodiversity and eco-tourism in the 42% forested Southeast Asian country. Vietnam’s oldest national park with more than 22,000ha has inspired the world with the values of nature, of an intact jungle, and conveyed a message of animal rescue and forest stewardship. Nguyen Minh Chinh (3rd left) , Director of Cuc Phuong National Park, in the release of animals at the park. Photo: Bao Ninh Binh Nguyen Minh Chinh, Director of Cuc Phuong National Park, said Cuc Phuong had been the prototype of the establishment of 33 other national parks nationwide since its establishment in 1962. He said the success … [Read more...] about Cuc Phuong National Park: Typical model for conservation in Vietnam