Good government investments in renewable energy

The Business Climate Index is the leading indicator of the European business and investment community in Vietnam. European businesses in Vietnam expressed their positiveness about Vietnam’s prospects for green growth, according to the latest Business Climate Index (BCI) released by the European Chamber of Commerce in Vietnam (EuroCham) and YouGov Vietnam. CEOs of European businesses gather an event in Ho Chi Minh City last April. Photo: EuroCham According to the BCI, nearly 80% of participants said their assessment of Vietnam’s green development potential improved from the first quarter of this year. About 44% of the respondents have good and excellent outlook regarding the potential for Vietnam’s green and sustainable development. Regarding the link between green growth and foreign-direct investment (FDI), nearly 90% of the respondents believed Vietnam should accelerate green sector development to attract more foreign investment. EuroCham Chairman Alain … [Read more...] about European businesses positive about Vietnam’s prospects for green growth

Jakarta (VNA) – Indonesia's state-owned electricity company PLN has axed a project to develop a coal-fired power plant as the country chases its long-delayed commitments to cut carbon dioxide emissions . PLN vice president of corporate communications Gregorius Adi Trianto confirmed that the company had canceled its plan to build the 1-gigawatt (GW) plant in Indramayu, West Java. It proactively stopped borrowing funds for the project as part of PLN's efforts to reach the country’s carbon neutral goal by 2060, Gregorius was quoted by local media as saying. The project’s termination came after Japan announced that it had canceled a plan to provide a loan worth 1.7 billion (12.55 million USD) for developing the Indramayu plant amid growing international criticism of coal power plants, a major source of greenhouse gas emissions. According to Indonesia ’s Ministry of Energy and Mineral Resources, total investment in the power sector reached 700 million USD in the first … [Read more...] about Indonesia cancels giant coal-fired power project

Optimistic exports In 2021, despite COVID-19, Vietnam's goods exports to CPTPP markets recorded encouraging achievements. Japan became the largest CPTPP importer of Vietnamese goods, accounting for more than 52 percent of Vietnam’s export value to the bloc. Meanwhile, exports to Chile and Peru increased 85 and 128 percent over the previous year. According to the Ministry of Industry and Trade, the CPTPP bloc has contributed 15 percent to the global gross domestic product (GDP) and trade. The zeroing of import duties by large markets, such as Japan and Canada, will help Vietnam increase its export value. Vietnam’s major exports, including farm produce and seafood, electricity and electronics, became tax-freed ones as soon as the CPTPP came into effect. The Ministry of Planning and Investment has predicted Vietnam's exports would likely increase 4.04 percent by 2035. Having FTA relations with CPTPP countries will offer Vietnam opportunities to restructure its import and export … [Read more...] about Pacific Rim trade deal boosts Vietnam’s economy