Visitors at a booth displaying recycled products made by Siam Cement Group at the “Circular Economy: Collaboration for Action” conference organised in Bangkok on Monday. — VNS Photo Bồ Xuân Hiệp BANGKOK — A co-ordinated and sustained global effort “is needed to reinforce the circular economy through action-based projects”, an international forum heard in Bangkok. Global companies from across the value chain, including chemical and plastic manufacturers, on Tuesday took part in the forum organised by NGO Alliance to End Plastic Waste (AEPW) for the first time in Southeast Asia. Cholanat Yanaranop, executive vice president of Thailand’s Siam Cement Group (SCG), said: “No single country, company or organisation can solve this problem alone. “The natural resources of our planet are dwindling at an alarming rate. It is said that if the population of the world continues to consume natural … [Read more...] about Alliance to End Plastic Waste calls for concerted global effort
Global challenges research fund
The challenges the power sector needs to overcome over the next two decades are substantial to ensure it achieves its goals to provide sustainable, clean, affordable and reliable power supply to the people of Viet Nam. Ousmane Dione, Country Director of the World Bank in Viet Nam told the meeting of the Viet Nam Energy Partnership Group (VEPG) held in Ha Noi on Monday that one key question was how to meet future energy demand, while also complying with the Government’s objectives to reduce greenhouse gas (GHG) emissions and meet its climate change targets. That of course refers to the contentious issue of the role of coal in the future energy mix. “Another challenge is how to mobilise the large investment requirements, estimated at around US$8 billion annually to meet fast growing power demand. Viet Nam Electricity (EVN) and the public sector cannot raise those funds and the private sector, both domestic and international, will need to play a more prominent role in power … [Read more...] about Energy sector faces big challenges ahead
A report from the Ho Chi Minh Securities Company shows that bank interest rates have risen by 0.46 percentage points for short-term loans since the end of last year to 7-9 per cent and to 9-12.5 per cent for medium- and long-term loans. — Photo vietnambiz.vn A report from the Ho Chi Minh Securities Company shows that bank interest rates have risen by 0.46 percentage points for short-term loans since the end of last year to 7-9 per cent and to 9-12.5 per cent for medium- and long-term loans. The report named lenders such as Agribank, Military Bank, Sacombank, VP Bank and ACB as adjusting their rates upwards in the last two months. The interest rate hikes are said to be the first sign of the central bank trying to reduce money supply to fight inflation. According to experts from the Ministry of Planning and Investment’s National Centre for Socio-economic Information and Forecast, inflation and exchange rates remain under control but are under great pressure, and so prudent … [Read more...] about Tight monetary policy: where can businesses find funds?
The face of modern office space is changing rapidly Enter the giant operators The co-working space market in Vietnam will soon welcome WeWork, the third largest startup from the US that is planning to enter this December. The WeWork co-working space at E.Town Central in Ho Chi Minh City will be the biggest co-working space in Vietnam so far with the total area of 5,000 square metres, offering a flexible space for co-working and private officers. Before coming to Ho Chi Minh City, WeWork has set up shop in Hanoi via the acquisition of NakedHub – the operator of four co-working spaces in Vietnam. The presence of WeWork has been said to heavily impact the budding segment in Vietnam, prompting all other co-working space operators to improve to stay in competition against giants like WeWork. The representative of WeWork in the US refused to divulge strategy in Vietnam to VIR, however, according to local media, the operator will be more active from 2020 onward. Facing tougher … [Read more...] about Co working spaces shine as global giants approach
Vietnam has an ambitious master plan that aims at complete transformation of the nation’s sluggish infrastructural platforms, so as to attract investment and business, promote its industrial hubs and increase its GDP. According to Asian Development Bank (ADB), Vietnam is among the top in terms of infrastructure development, with average infrastructure investment taking up 5.7 percent of the GDP in recent years, the highest in Southeast Asia. The expansion of the nation’s road network is currently facing financial troubles. Against the cost estimate of $134 billion, only $99 billion has been earmarked so far. The latest Global Infrastructure Outlook has estimated that Vietnam will only meet 83 percent of its infrastructure needs by 2040. Looking at some of the major projects and markers of Vietnam’s infrastructure development can give us an idea of the challenges and opportunities that lie ahead. The big ones Pursuant to the prime ministerial Decision No.631/QD-TTg in … [Read more...] about Vietnam’s infrastructure growth hinges on profitability, funding