Ministry seeks GWEC’s support for realisation of 2050 net zero target

Wind turbines of a plant in the coastal area of Vinh Chau town, Soc Trang province. (Photo: VNA)The Ministry of Industry and Trade has asked for assistance from the Global Wind Energy Council (GWEC) to help Vietnam realise its net zero emissions target by 2050, especially regarding offshore wind power development, said Minister Nguyen Hong Dien at a working session with Mark Hutchinson , chair of GWEC ’s Southeast Asia Task Force.Dien suggested the council provide advice on financial sources with long-term incentives; technology support and human resources training; and investment and cooperation in offshore wind power production, including building smart grids and producing clean energy.The official said Vietnam’s strong statements at the 26th United Nations Climate Change Conference of the Parties (COP26) showed the determination of the Party and State in converting traditional energy sources into green and clean energy.However, changing from coal to wind or gas power was a long process with many difficulties and challenges, he added.Lauding Vietnam’s efforts and commitments at COP26, Hutchinson affirmed that the GWEC is willing to cooperate with the ministry to organise renewable energy seminars, and share experience regarding the sustainable operation, management and development of renewable energy.The GEWC will provide supply chain support as well as human resources training for Vietnam's offshore wind power industry, he noted.Its working group will explore what Vietnam needs to do to attract domestic and foreign preferential financing and work with financial institutions and banks to remove the country’s problems with capital sources for offshore wind power development, said Hutchinson.Vietnam’s renewable energy sources have reached about 20.7 GW, accounting for more than 27 percent of its total power capacity. In 2021, electricity output from renewable energy sources hit 30 billion kWh./.

April 06, 2022 17:37 UTC


Measures sought to support businesses in expanding foreign trade

In the first quarter of this year, Vietnam’s total import-export value hit 176.35 billion USD, up 14.4 percent year on year(Photo: vietnamnet.vn)MoIT Deputy Minister Do Thang Hai addresses the conference (Source: MoIT)– The Ministry of Industry and Trade (MoIT) on April 5 held a conference to evaluate trade promotion activities in the first quarter of this year and seek ways to help localities, economic sectors and businesses surmount difficulties and build strategies to expand international trade activities in the new situation.Addressing the event, MoIT Deputy Minister Do Thang Hai highlighted positive signs in foreign trade so far this year, noting that in the first quarter of this year, Vietnam’s total import-export value hit 176.35 billion USD, up 14.4 percent year on year, with exports rising 12.9 percent and trade surplus reaching 809 million USD.However, he noted that domestic enterprises are under a double impact of continued complicated developments of the COVID-19 pandemic and the Russia - Ukraine tension, which have caused disruption in supply chains including energy and pushed transport costs up. Meanwhile, the Vietnamese economy depends greatly on foreign trade.Therefore, the conference was held with the aim of assisting localities, economic sectors and businesses in building their strategies and applying suitable measures to expand import-export activities in such a situation, Deputy Minister Hai said.Ngo Sy Hoai, Vice Chairman and General Secretary of the Vietnam Timber and Forest Product Association (VIFORES) said he hopes Vietnamese Trade Offices abroad will help promote the image of Vietnam as a world leading hub of wood processing and export with resolute determination to develop the wood sector sustainably using green and legal material sources. He asked the Vietnamese Trade Office in the US to give early alert on trade remedies in this market, so that domestic firm can prepare response measures.Meanwhile, Dinh Quoc Thai, General Secretary of the Vietnam Steel Association suggested that the MoIT provide information of import countries’ trade defence investigations against steel products.At the event, representatives from trade associations proposed that the MoIT conduct more activities to connect domestic firms with their peers in foreign markets, and strengthen support to enterprises in joining trade fairs abroad.Le Hoang Tai, Vice Director of the MoIT’s Trade Promotion Agency said that this year, the agency will continue to organise many activities to support the export of Vietnamese products to foreign markets. This year, the national programme on trade promotion will spend 80.41 percent of its budget for export promotion.He said that the agency hopes for closer coordination from Vietnamese Trade Offices abroad in providing updated information on foreign market as well as technical barriers and risks of anti-dumping lawsuits and preferential policies given by foreign countries to Vietnam.The trade offices abroad were also urged to assist with the popularisation of trade promotion events held in Vietnam and programmes to introduce national trademark, and help invite foreign firms to join trade connectivity events online./.

April 06, 2022 09:50 UTC


Vietnam, Panama seek to deepen all-round partnership

– Foreign Minister Bui Thanh Son held talks with his Panamanian counterpart Érika Mouynes in Hanoi on April 5 to discuss ways to strengthen partnership between the two countries across all fields including politics, diplomacy, economy, trade and agriculture as well as bilateral coordination at international and multilateral forums.The two FMs expressed their wish to promote bilateral cooperation in promosing areas such as maritime transport, climate change response, and renewable energy.They agreed on the viewpoint of settling international disputes through peaceful measures on the basis of international law.They shared their delight at the growing ties between Vietnam and Panama, especially through the implementation of cooperation mechanisms. They concurred to continue to effectively promote the deputy ministeral level political consultation and Joint Committee on economic, trade and investment cooperation mechanisms, as well as face-to-face and online meetings between the two countries.Vietnam and Panama have seen positive results in economic partnership, with Panama always being among Vietnam's 10 biggest trading partners in Latin America. Two-way trade between the two countries has risen from 250 million USD in 2014 to 467 million USD in 2021. Particularly, trade between the two countries surged 45.5 percent year on year in 2021 despite COVID-19 impacts.FM Son proposed that Panama support the protection of the interests of Vietnamese citizens living, studying and working in Panama, and effectively coordinate to make the country a transit place for Vietnamese products in the Latin American region. Vietnam will acts as a bridge for Panamanian products to enter the Southeast Asian market, he added.Son affirmed that Vietnam is keen on bolstering the traditional friendship and all-round cooperation with Panama in a substantive and effective manner.For her part, Minister Mouynes spoke highly of Vietnam’s achievements in implementing the “Doi moi” (Renewal) process, saying that the Panamanian Government always treasures and hopes to strengthen ties with Vietnam.She agreed that the two countries continue to work closely together to reinforce bilateral cooperation in both bilateral and multilateral aspects, for benefits of the two countries' people, and for peace, stability and development in the two regions and the world as a whole.Within the framework of her visit to Vietnam from April 5-6, the Panamanian FM paid tribute to President Ho Chi Minh at his mausoleum in Hanoi, met Prime Minister Pham Minh Chinh and had a working session with Minister of Industry and Trade Nguyen Hong Dien./.

April 06, 2022 00:07 UTC


Vietnam’s industrial production flourishes in Q1

Bikes are produced at Thong Nhat JSC in Hanoi. (Photo: VNA)- The index of industrial production (IIP) in the first quarter continued to flourish with a year-on-year increase of 7.07 percent, the General Statistics Office said.The positive rise, much higher than the 6.44 percent seen in Q1/2021, contributed 2.42 percentage points to the economy's growth in Q1 /2022.The processing and manufacturing industry had a yearly IIP rise of 7.79 percent.Meanwhile, the IIP growth of the electricity production and distribution industry stood at 7.42 percent, and water supply and waste and wastewater treatment and the mining industry reached 6.54 and 5 percent, respectively.Key industries that recorded high increases in Q1 include clothing (up 24.1 percent); machinery and equipment (16.2 percent); metal production (10.1 percent); electronics, computers and optical products (9.4 percent) and other non-metallic mineral products (8 percent).On the contrary, several industries saw a decline in industrial production, such as rubber and plastic products, down 15.5 percent; repair, maintenance and installation of machinery and equipment (12 percent); coke and refined petroleum products (11.7 percent) and crude oil and natural gas (2.2 percent).Among industrial products with strong IIP increases were telephone components with 19 percent, automobiles (13.4 percent), aluminium (12.6 percent), and steel (11 percent).Some products decreased compared to the previous year, including televisions (23.3 percent); gasoline and oil (12.5 percent); aquatic feed (11.7 percent); mobile phones (9.3 percent); NPK fertiliser (6.6 percent) and paint (5.7 percent).The GSO also said the consumption index of the processing and manufacturing industry in Q1 rose 6.6 percent compared to last year's corresponding period. In March, the index increased 19.1 percent month-on-month and 11.2 percent year-on-year.The average inventory rate of the processing and manufacturing industry in the first three months was 79.9 percent, higher than the 75.1 percent recorded last year.As of March 1, the number of employees working in industrial enterprises rose 2 percent month-on-month and 3 percent year-on-year.Labourers in State-owned enterprises decreased 3.3 percent year-on-year, while those in non-State firms slumped 3 percent, and foreign-invested businesses increased 4.3 percent.The Ministry of Industry and Trade said it was necessary to ensure an adequate supply of raw materials for energy production, business recovery, and socio-economic development in the coming months.The ministry recommended removing obstacles to important industrial projects and maximum support for factories to maintain production, keep orders, and maintain the supply chain.The industry and trade sector would also effectively implement the Government's solutions to remove difficulties for businesses and help them restore financial and labour resources.The ministry said it would speed-up large public investment projects, especially projects on energy and infrastructure for industrial development, developing markets for several key manufacturing industries such as steel, engineering, construction materials and automobiles./.

April 05, 2022 22:10 UTC


PM stresses urgent need for keeping power supply, demand balanced

– Prime Minister Pham Minh Chinh chaired a meeting in Hanoi on April 3 to look into the electricity supply and the provision of coal and gas for power generation.Pointing out a soaring power demand as a result of the socio-economic development and post-pandemic recovery, the Government leader said ministries, sectors, and agencies have yet to act drastically enough to carry out his official dispatch, issued on December 24 last year, on economical and efficient power use and power supply in 2022 and beyond.He said in 2021 and the first quarter of 2022, electricity supply and demand have been guaranteed, but power shortages occurred in some places and at certain points of time.PM Chinh underlined the critical importance of keeping the power supply-demand balance in the time ahead, given complicated external factors and the economy’s demand.He asked all-level authorities, sectors, and relevant agencies to improve their sense of responsibility, proactively take measures for ensuring the power supply with reasonable prices for economic and daily activities, and easing dependence on foreign electricity sources.In the long run, it is necessary to boost sustainable energy development and power generation, step up power saving solutions, encourage domestic electricity production, facilitate innovation to achieve low-cost, safe, and effective power generation , and properly handle the relationship between input materials and power prices.The PM also demanded authorities and businesses to continue a close watch on the market to make appropriate adjustments, work closely together to ensure effective power generation and supply, and overhaul mechanisms and policies on power, coal, and gas production to safeguard energy security.At the meeting, the Vietnam Electricity (EVN) group said power supply will be basically ensured for the southern and central regions from now to 2025. Meanwhile, demand in the northern region, which accounts for nearly 50 percent of the country’s total, will rise faster than the national average.However, the new generation sources that are set to be operational each year during 2022 - 2025 will continually be lower than the growth in power demand, which may lead to electricity shortages during May - July, the peak period of hot weather and also the dry season - when hydropower plants’ capacity may decline, the firm added./.

April 03, 2022 16:45 UTC


Vietnam, Slovakia seek opportunities to promote cooperation, investment

Vietnamese Ambassador to Slovakia Nguyen Tuan (R) and Chairman of the Slovak National Council's Economic Affairs Committee Peter Kremsky (Photo: VNA)Vietnamese Ambassador to Slovakia Nguyen Tuan on April 1 received a delegation of the Slovak National Council, led by Chairman of its Economic Affairs Committee Peter Kremsky, to discuss economic cooperation between the two countries in the time to come.At the meeting, the Vietnamese diplomat expressed his hope that the Slovak parliament, government, and competent agencies will support collaboration activities between the countries and that the Slovak National Council will soon ratify the EU-Vietnam Investment Protection Agreement (EVIPA).For his part, Kremsky said the relations between his nation and Vietnam – which he considers a nation with importance regional role and having strengths in terms of natural and human resources – are yet to be on par with the sides’ potential.Highlighting Slovakia ’s consulting, construction and operation experience in the field of thermal power, hydroelectricity, and nuclear power, he stated his nation wants to cooperate with Vietnam in these sectors and welcomes Vietnamese investors.The official informed that due to the impact of the current conflict in Ukraine, Slovakia is looking for alternative energy sources to reduce dependence on Russian energy sources.He mentioned Vietnam ese automaker VinFast, which has recently invested in building an electric vehicle (EV) manufacturing factory in North America, and suggested that Vinfast consider Slovakia as its next investment destination, as Slovakia is a car production hub in Europe.Kremsky said he is willing to collaborate with and assist Vietnamese investors in administration procedures./.

April 02, 2022 16:26 UTC


Made-in-Vietnam biodegradable materials to be sold in North America

Made-in-Vietnam biodegradable materials to be sold in North America (Photo: baodautu.vnVNA- Biodegradable plastic materials meeting strict international standards produced by An Phat Holdings (APH) of Vietnam will be distributed throughout North America in the coming time.AFC Ecoplastics, a new member of An Phat Holdings (APH) based in Texas, the US, will cooperate with Nexeo Plastics – a global thermoplastics resin distributor – to sell the bioplastics in Canada, Mexico and the US.These bio-compounds meet ASTM D6400 - the standard specification for solid material biodegradation (by composting). They are ideal options for producing cutlery, straws, and bottle caps.Chairman of the Board of Directors of APH Pham Anh Duong said North America, especially the US, has always been a strategic international market of the firm. Biodegradable plastic materials and products have been the strength of the company for more than a decade, he said, adding that with its new investment activities, the company will generate different values in the global green material supply chain It has successfully registered a trademark for the AnEco – the first Vietnam’s compostable product brand in the US. This is hoped to pave the way for APH to expand business cooperation projects and promote its products in the US in particular and the Northern America in general.The partnership with Nexeo Plastics marks an important development in APH’s efforts to make inroads into the American market, Duong said. An Phat Holdings is the leading company in the field of advanced plastic production technology and environment-friendly plastic products, serving a diverse customer base across North America, Latin America, Europe, the Middle East, Africa and Asia.Early this year, the firm commenced the construction of a PBAT biodegradable resin factory with designed capacity of 30,000 tonnes per year in the northern city of Hai Phong./.

April 02, 2022 09:20 UTC


Can Tho gathering marks traditional New Year of Khmer, Cambodian people

Cambodian Consul General in HCM City Sok Dareth and his spouse (left) present congratulatory flowers to the gathering in Can Tho on April 1. (Photo: VNA)– A gathering was held on April 1 for Khmer ethnic members of the Vietnam - Cambodia Friendship Association in Can Tho and Cambodian students of universities in this Mekong Delta city to mark Chol Chnam Thmay , the traditional New Year festival of Khmer people.Nguyen Van Can, Chairman of the friendship association, said 2022 is a special year for the two countries as they will celebrate the 55th founding anniversary of their diplomatic ties (June 24, 1967 - 2022).A wide range of activities will be organised throughout this year to mark the anniversary, including gatherings, culinary - cultural - sports exchanges between Cambodian and Can Tho students, a seminar on the countries’ friendship, and contests exploring bilateral relations.Those activities will help not only maintain and develop the neighbourliness, traditional friendship, and comprehensive cooperation between Vietnam and Cambodia but also educate people, especially the young, on the importance of nurturing the countries’ ties in the new context, according to Can.The association will also boost people-to-people exchange and social activities in Cambodia, he went on, adding that it will work to help develop Can Tho’s twin relations with Kompong Chhnang and Battampang provinces of Cambodia and increase its membership, thereby contributing to the Vietnam - Cambodia friendship, solidarity, and all-round cooperation.Addressing the event, Cambodian Consul General in HCM City Sok Dareth highly valued the Can Tho association’s active contributions to people-to-people diplomacy, noting that during COVID-19 outbreaks, many humanitarian organisations have donated medical supplies to frontlines forces while assisting low-income earners and disadvantaged students in Cambodia He affirmed that the Cambodian Consulate General in HCM City will exert more efforts to bring the relationship with Can Tho to a new height in order to help intensify the two countries’ relations.The diplomat also expressed his hope that the connections between Can Tho and Phnom Penh capital, Battambang, and other localities and agencies of Cambodia will be increasingly reinforced in the time ahead./.

April 01, 2022 19:08 UTC


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