Industry

Fish cage farming at sea. Illustrative image (Photo: VNA) The overall goal of the project is developing a synchronous, safe, effective, sustainable and eco-friendly marine aquaculture, producing branded products to meet domestic and foreign demand, generating jobs and improving income of residential community in coastal areas, contributing to protecting the security of the country’s seas and islands. By 2025, the project targets having 280,000ha for aquaculture, achieving an output of 850,000 tonnes and export revenue of US$800 million – $1 billion. By 2045, sea farming will become an important part of the fishery sector with modern management, contributing to over 25 percent of the total output and earning more than $4 billion in export turnover. To such end, a synchronous infrastructure will be developed to serve the industry. Specifically, a fleet of logistics vessels and offshore marine farming areas will be set up in key provinces. As for inshore sea farming, priority … [Read more...] about Project on marine aquaculture development till 2030 approved

Illustrative photo (Source: socongthuong.soctrang.gov.vn) Soc Trang (VNA) – The Mekong Delta province of Soc Trang, despite COVID-19, recorded 1.05 billion USD worth of exports during January – October, the highest number to date. The export value represented an annual increase of 14 percent and surpassed the target for 2021 by 5 percent. Key earners included aquatic products, rice, and apparel, which reeled in 835 million USD, 183 million USD, and 12 million USD, respectively. Also in the ten months, the province’s industrial production value was estimated at 23.23 trillion VND, meeting 81.51 percent of the yearly plan and up 5.98 percent over the same period in 2020. The export and production growth was attributable to the provincial Department of Industry and Trade’s efforts to promote production in line with pandemic prevention and control. Communications campaigns urging firms to boost farm produce distribution in Ho Chi Minh City via the e-commerce … [Read more...] about Soc Trang’s export value exceeds 1 billion USD

Do Thang Hai , Deputy Minister of Industry and Trade and Chairman of the Vietnam-Czech Friendship Association (Photo: vufo.org.vn) Hanoi (VNA) – A ceremony was held by the Vietnam-Czech Friendship Association on October 26 evening to mark the 103rd founding anniversary of Czechoslovakia , or the Czech Republic today (October 28, 1918 – 2021). In his remarks, Do Thang Hai, Deputy Minister of Industry and Trade and Chairman of the Vietnam-Czech Friendship Association , spoke highly of growing bilateral relations, saying the governments and people of the two countries have provided support for each other, through the donation of medical supplies and COVID-19 vaccines. The government and people of Vietnam sincerely thanked the Czech Republic for their gesture, Hai said, adding that Vietnam wants to receive more support from the Czech Government and people in the COVID-19 fight. He further said that the Vietnam-Czech Friendship Association will continue accelerating … [Read more...] about Czech Republic’s Independence Day marked in Hanoi

Growth is eight times higher than that of total shrimp exports, which rose 2.6 percent to $2.76 billion. The Vietnam Association of Seafood Exporters and Producers (VASEP) said in a recent note U.S. demand remains high, especially as the economy resumes after Covid-19 outbreaks and as the end-of-year shopping season approaches. September was the 10th month in a row the U.S. saw shrimp imports rise. On average, it has imported over $800 million each month in the past 10 months. The U.S. has been hiking up shrimp imports from Ecuador since the beginning of the year, but as the latter faces a supply shortage, Vietnam has an opportunity to boost exports there, VASEP said. Vietnamese exporters will also likely benefit from the Christmas shopping season in Europe where demand is set to rise, it added. Shrimp exports to the EU in the first nine months rose 10 percent year-on-year to nearly $408 million. The U.S. was Vietnam’s biggest shrimp export market in the first nine months, … [Read more...] about Vietnam gains from rising US shrimp demand

Tim Evans, CEO of HSBC Vietnam The World Bank believes Vietnam is among the top five countries likely to be affected and estimates that climate change will reduce its national income by up to 3.5 per cent by 2050. Moreover, Vietnam is one of the most carbon-intensive economies in Asia, and it needs to undertake a rapid transition out of high-carbon activities. As the country pursues this ambitious path, its finance sector will have to play a significant role with a wide range of innovative financial solutions. The demand for green, social, and sustainability bonds continues to hit record oversubscriptions, confirming that both issuers and investors remain keenly focused on green finance. According to Moody’s, global issuance is expected to reach another new record of $650 billion in 2021, a 32 per cent increase over last year. In Vietnam, the government has put in place several robust responses and measures, which includes promoting green growth as a key focus in the … [Read more...] about Sustainable finance instruments to grow a greener future

By Kim Højlund Christensen Danish Ambassador to Vietnam That conference resulted in the global Paris accords, committing all nations to come together to fight the most pressing challenge of our time. In 2021, it is essential that we fulfil the promise of reducing emissions to limit the global temperature rise to 1.5oC from pre-industrial levels. However, we are currently not on track. We need all countries to increase their ambitions for reducing emissions. That is why Denmark has committed to reducing emissions by 70 per cent by 2030. We believe that this is not only necessary, but also possible. Nearly 70 per cent of greenhouse gas (GHG) emissions in Vietnam come from energy production and consumption. Therefore, action in the energy sector is of utmost importance for a green transition. Less emphasis on coal, and ultimately a phase-out of coal, will have a substantial positive impact. The cooperation between Denmark and Vietnam in the areas of energy and climate has been … [Read more...] about Green transition needs stability