Tien Giang looks at the long term (19-04-2007) Thoi bao kinh te Viet Nam (Vietnam Economic Times) spoke to Nguyen Huu Chi, chairman of Tien Giang's People's Committee, about provincial development. Tien Giang has become known for its economic growth in the south over the last two years. How was this achieved? In our general socio-economic development plan for the 2006-2020 period, we decided to focus on co-operation with other provinces in the Cuu Long (Mekong) Delta region, as well as HCM City and international organisations and companies. With their help, our industries, infrastructure and economy will continue to flourish and Tien Giang will become more industrialised and modern. We would like our economy to grow 11.5 per cent per year from 2006-2020. To make this happen, the industrial and construction sectors will have to account for 34 per cent of our gross domestic product (GDP) by 2010 and 37 per cent by 2020, up from 22.5 per cent in 2005. Export turnover will have to increase … [Read more...] about Tien Giang looks at the long term
Investing for the long term
Electricity industry prepares for rising long-term demand (09-05-2006) Workers at Viet Nam Construction and Machinery Installation Corporation install turbines for the expansion of the Uong Bi coal-fired electricity plant to minimise power shortages during the dry season. — VNA/VNS Photo Ngoc Ha HA NOI — Electricity of Viet Nam (EVN) has predicted that between now and 2009 demand for electricity will grow so rapidly that serious power shortages can be expected in the northern regions of the country. Recently the electricity industry has been given permission by the Prime Minister to speed up the construction of power plants. The Ca Mau gas turbine project No.1, with a capacity of 500MW, will be put into operation in March of next year. In addition, Viet Nam will buy electricity from China to raise the capacity of the country's northern power system by 250MW beginning in October 2006. However, when severe water shortages occur in the future, reservoirs will not be … [Read more...] about Electricity industry prepares for rising long-term demand
Mr Nguyen Quang Vinh, Director of Business Office for Sustainable Development of the Vietnam Chamber of Commerce and Industry (VCCI) and Secretary General of the Vietnam Business Council for Sustainable Development (VBCSD), said that sustainable development is to meet current needs and inflict no damage on the ability to meet the demand of future generations. Therefore, most countries in the world have placed sustainable development agendas in their economic, social and environmental development plans. Do you think it is a descent if economic growth is achieved only at the expense of unimproved environment and society? That is certainly correct. Nowadays, green growth and green economy are frequently mentioned and the world is in a green race. For example, the European Union (EU) has up to 45 percent of solutions to green technology development; Japan has many green technical solutions; China and India are also pointing toward green technology. The green race has started. This is a … [Read more...] about Sustainable Development Oriented Business: Investment for the Future
Nowadays, sustainable development is not confined to the scope of country or a big corporation. This concern has spread all over the world and this is also the concern of Vietnamese companies in general and Vietnamese businesspeople in particular. Especially, in the context of global competition, sustainable development is seen as an investment for the future of a company. Mr Tran Phu Son, Deputy General Manager of Ernst & Young Vietnam, said sustainable development and corporate social responsibility (CSR) are two integral activities and they are mutually complemented. Simply looking, when a company operates only for profit and compensates social expenses by means of tax payment and disregard CSR in each activity, it is certain that social expenses in consideration of environmental pollution it causes are much greater than interests it generates. As consumers increasingly understand impacts [of its operations] on environment and public health, the successful implementation of CSR … [Read more...] about How to Invest for the Future?
Despite the tough economic climate, many foreign companies are continuing to expand operations in Vietnam in hope that their strategy will pay off when the recovery happens. BlueScope Buildings Vietnam, formerly known as BlueScope Lysaght Vietnam, inaugurated a US$4 million steel plant in Hanoi two weeks ago. The plant, located in the Quang Minh Industrial Park, aims to tap into what the company sees as growing demand in the northern market. The company, a fully owned subsidiary of Australia-based BlueScope Steel, began operations in Vietnam in 1993. It has gradually expanded its market into lower segments. "The market is in a downturn, but we are confident that we can achieve a six-fold growth in the next three years with the new plant," said Hoang Thai Anh, marketing director at BlueScope Buildings Vietnam. "Our strategy is not just for the market at the present, but for the future market. The new plant in the northern region is the preparation for a market … [Read more...] about Foreign investors in for the long haul