Government guarantee

New York (VNA) – Ambassador Dang Dinh Quy , Permanent Representative of Vietnam to the UN, on February 24 underscored the importance of international assistance in the conflict-affected Central African Republic at an UN Security Council (UNSC) videoconference, which discussed ongoing violence in the country.

Jean-Pierre Lacroix , UN Under-Secretary-General for Peace Operations, told the conference that the Central African Republic has continued to suffer from violence despite the announcement of the official result of the presidential election in December 2020.

Citing important progress in recent weeks in combating the armed coalition group known as Coalition des Patriotes pour le Changement, he said the United Nations Multidimensional Integrated Stabilization Mission in the Central African Republic (MINUSCA) is providing security to thousands of internally displaced persons, while also supporting efforts to safeguard the democratic order.

The Central African Republic has now become the most dangerous place for humanitarian work, with over 46 percent of worldwide incidents registered by international non-governmental organisations reported in the country.

In his speech, Quy said Vietnam backs the recent efforts of the UN as well as of regional and subregional organisations, including the African Union, the Economic Community of Central African States, and the International Conference on the Great Lakes Region, to support the Central African Republic.

He took the occasion to urge all concerned parties to resolve differences in a peaceful manner. This effort towards political stability and reconciliation must go hand in hand with the promotion of trust and confidence, he noted.

Calling for the sides involved to respect the election results and handle differences through dialogues, representatives from other UNSC members stressed the importance of implementing the 2019 peace agreement between the local government and armed groups to facilitate long-term political measures.

They supported the efforts made by the African Union and the MINUSCA in the matter./.

VNA

The Hanoitimes – On the occasion of the 25th anniversary of the US-Vietnam diplomatic relations, US companies shared with Hanoitimes their expectations about opportunities for their investment expansions in Vietnam.

Dr. Mason Cobb, chairman of Victoria Healthcare International Clinics

After Vietnam achieved the middle income status and ODA decreased, the Vietnamese government became more accommodating for investment and that continues to this day.

Dr. Mason Cobb, chairman of Victoria Healthcare International Clinics

However, it is still not a truly level playing field with local companies. The attitude and perception, and spirit of cooperation has become much warmer and more understanding than during that difficult middle period.

More importantly, the company’s mission in healthcare as primarily helping Vietnam build a world-class healthcare system. To that end, the company brings Vietnamese to the US and bring educational and other assets to Vietnam to help increase understanding and skills.

AmCham Healthcare Committee Mission has stated: “We are a key strategic partner for promoting health and wellness and shaping the healthcare industry in Vietnam.”

Regarding the healthcare sector, I think there are still regulatory hurdles that could dampen investment atmosphere. For example, the Ministry of Health has proposed that all foreign doctors must speak fluent Vietnamese. In effect, there would be an exodus of international healthcare and its standards. This will inhibit achieving a truly international standard for healthcare here by essentially expelling international influences.

Vietnam is quite unique in its “healthcare consumer”: several attempts from highly developed countries have floundered for not understanding the Vietnamese patient’s unique perceptions. In the best of conditions this must be carefully considered by foreign healthcare investors.

Vietnam has shown itself to be best in the world at handling the Covid-19 pandemic. This has spawned a motivation to make the Vietnamese healthcare system world-class. Individual patient healthcare is quite different, however, and Vietnam will at once be both motivated but headstrong with a tendency to both court foreign investment and discount their contribution.

In fact, continuing a cooperative and supportive relationship with the international medical community is the shortest and surest path to the goal of world-class healthcare.

Decreasing the regulatory burden and reinforcing fair application of rules. Easy access to decision makers in the Vietnamese government is also key.

We will continue to grow and develop our reach and technical skills. We will also invest in human capital with input from the US. We can really contribute to healthcare in Vietnam through a more integrated system, incorporating retail pharmacy, insurance, education, and patient care as a seamless system that is both very efficient and patient-friendly.

Nguyen Ba Luan, country president of Cargill Vietnam

The Vietnamese government should be commended for transforming the country over many years from a centrally planned into a market economy. This transformation has dramatically increased US foreign investment in Vietnam.

Nguyen Ba Luan, country president of Cargill Vietnam

The approach by the Vietnamese government to attract foreign investment and encourage open and free global trade has benefitted the Vietnamese economy and its agricultural and food sector. It has enabled more foreign investment and Cargill has invested heavily in Vietnam since 1995, after the significant event of the normalization of the diplomatic relationship between Vietnam and the US.

The transformation of Vietnam economy by the government has enabled Cargill to grow its business significantly in the country over the past 25 years and now has over 1,500 employees working across 23 locations. Cargill remains committed to conducting its business in the country with the highest level of integrity, accountability and responsibility.

US companies in Vietnam, who can demonstrate social tangible benefits by not only growing the Vietnamese economy but have a strong local Corporate Social Responsibility program improve the relationship between the two countries.

Cargill also enhanced diplomacy between the two countries by acting as a conduction between the US and Vietnam agricultural and food sector by bringing best practices to the Vietnamese sector and working through two-way trade issues as they arise.

While the Vietnamese government is to be congratulated for its on-going efforts in attracting foreign investment, further supporting incentives in the form of tax schemes will encourage more foreign investment.

Further reform of its legal framework relating to business and foreign investment is encouraged and the continuation of aligning the country with international food, export and import standards and practices will give US companies more confidence to grow and invest in Vietnam.

The continuation of building an advanced and integrated transport infrastructure will not only greatly improve the Vietnamese economy but will attract further investment from US companies especially in the Food & Agricultural sector.

Further alignment of policies with international standards, expansion of tax investment schemes and improvements to legal business framework and regulations and policies will go a long way in making Vietnam a for attractive destination for US companies looking to invest.

Also, continuation of dialogue between the Vietnamese government and US companies in Vietnam on policy reform, global best practices and any regulation, legal or policy obstacles will continue to attract further foreign investment by US companies.

Vietnam is important to Cargill globally. We continue to see tremendous opportunity in Vietnam and we intend to keep investing in and growing our business here, both in terms of capacity and capabilities, talents and communities as we fulfill our purpose of nourishing the world.

The Hanoitimes – Vietnam has been on way to pursue an energy transition that reduce carbon emission and develop renewable sources in an effort to combat climate change .

Liquefied natural gas (LNG) has been considered a source of energy that is able to meet Vietnam’s rising power demand and clean enough in comparison with coal power which the country is advised to minimize from now on.

Vietnam has been on way to pursue an energy transition that reduces carbon emission and develops renewable sources in an effort to combat climate change and there will be room in the country’s mix for fossil fuels as long as they are clean, a local expert has said.

Dang Huy Dong, president of Vietnam’s Planning and Development Institute. Photo: MPI

“Gas is by far the cleanest fossil fuel,” Dang Huy Dong, president of Vietnam’s Planning and Development Institute, said at the Future Energy Asia 2020 forum in Bangkok last month.

Gas, particularly LNG, is the only meaningful solution for Vietnam to reduce emissions in the context that the potential of hydropower is almost exhausted while solar and wind power are not reliable enough, the Bangkok Post quoted Dong as saying.

“Only gas could provide Vietnam with a practical energy supply, in particular LNG,” according to Dong, who is a former deputy minister of Planning and Investment.

He attributed the choice of gas to falling fuel prices, improved efficiency and technologies. At the same time, the price of coal-fired power is rising due to supply and financial limitations.

For the aforementioned reasons, Dong believes Vietnam needs to move away from coal to other sources, as China and many other countries are doing.

“In the interests of environmental protection and sustainable development, more and more provinces in Vietnam are demanding a change from coal projects to LNG power projects,” he said.

Vietnam’s power demand and the government’s choice

Vietnam’s energy sources. Data: MOIT/Bangkokpost. Chart: Linh Pham

Currently, coal-fired power plants generate about 39% of the electricity consumed in Vietnam. Hydropower accounts for 35%, gas-fired power 18.5%, and renewables 7.2%.

Over the past decade, hydropower generating capacity has recorded the highest growth rate in Vietnam. The country now has 5,500 megawatts (MW) solar capacity, representing 40% of all such capacity in Southeast Asia. This suggests a boom in renewable energy projects in Vietnam, where more attractive feed-in tariff (FIT) policies have been introduced for solar and wind power.

However, as the second largest power market in ASEAN, the country of 95 million is facing a critical supply challenge, with a need to triple capacity by 2030, the expert said.

“Rapid urbanization and industrialization have driven up electricity consumption in Vietnam dramatically,” he said, adding that southern Vietnam was at risk of being undersupplied.

In addition to expanding capacity, Vietnam has encouraged energy efficiency and renewable energy, reduction of CO2 emissions and creation of an energy market through the country’s eighth National Power Development Master Plan for the 2021-2030 period.

Furthermore, the government sees an efficient and reliable power supply as critical for socio-economic development. In 2016, it abandoned plans for nuclear development, citing safety concerns following the 2011 Fukushima disaster in Japan. It has resulted in a shift in long-term planning to include other sources to replace the planned nuclear capacity.

Remarkably, Vietnam is also interested in greater integration of power development throughout Southeast Asia, deploying cheaper sources as well as optimizing system operations.

“I think this is somewhat in line with the (goals of) interconnectivity and interconnection within ASEAN,” Dong emphasized.

Viettel brand value increasing by year (unit: billion $)

Viettel has been valued at $6.016 billion (up 3.4 per cent on-year) in the Brand Finance Global 500 2021 Ranking. This is the only Vietnamese brand in the list, ranking 325th in the world, as well as the only Southeast Asian telecommunication brand in the ranking.

According to Brand Finance, there are 34 telecommunication brands in the top 500, however, most of their brands’ value decreased at an average 2 per cent. Viettel did better than numerous well-known global brands like Nescafé (from Switzerland), Qualcomm (US), Spotify (Sweden), Lenovo (China), or Claro (Mexico).

Viettel’s brand value has doubled since transforming from a telecommunication provider to a pioneer in building digital society in 2018. In early 2021, Viettel announced repositioning its brand by forming six key platforms of a digital society including digital infrastructure, digital solutions, digital content, digital finance, cybersecurity, and high-tech research and development, which contribute to boosting Viettel’s brand value.

Additionally, the 2020 business performance of Viettel was quite good with VND264 trillion ($11.5 billion), up 4.4 per cent on-year, reaching 102.4 per cent of the yearly plan. The revenue of digital services increased by 27.7 per cent, doubling the average growth of the local IT industries (14.7 per cent). The company has also provided market-leading platforms for digital services, as well as for the government, ministries, and agencies.