MANILA -- The Philippines' Bataan Nuclear Power Plant (BNPP) has not produced any electricity since it was finished in 1984, despite its $2.3 billion price tag and its promise of energy security during the 1970s oil crisis. Approved by former dictator Ferdinand Marcos Sr., his son and new President Ferdinand Marcos Jr. has revived discussions on proposals to rehabilitate the site amid the current energy crisis that has pushed prices for traditional power generating fuels coal and natural gas to records. The BNPP's potential revival is one sign of the renewed interest in nuclear power. Governments across Europe and Asia are extending their aging fleet of nuclear plants, restarting reactors and dusting off plans to resume projects shelved after the 2011 nuclear crisis in Fukushima, Japan. Both the administration of U.S. President Joe Biden and the International Energy Agency have said nuclear power is critical for countries to meet global net-zero carbon emissions goals and … [Read more...] about Analysis: Global energy crisis drives rethink of nuclear power projects
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Exporters are allowed to self-certify the origin of export and import shipments with a value of less than EUR6,000 On June 11, 2021, the Ministry of Industry and Trade issued Circular 02/2021/TT-BCT guiding the implementation of UKVFTA rules of origin. The circular took effect on July 26, 2021. Accordingly, for export value exceeding EUR6,000, exporters must obtain a certificate of origin authorized by the Ministry of Industry and Trade. Exporters are allowed to self-certify the origin of export and import shipments valued at less than EUR6,000 between the UK and Vietnam. For imports worth more than EUR6,000 into Vietnam, exporters registered in an electronic database authorized by the UK customs authorities are allowed to self-certify. Proof of origin must be submitted to Vietnamese customs within two years of imports. Customs authorities may require a translation if not in English. Certificates of origin are valid for 12 months and must be submitted to customs authorities of … [Read more...] about UK tariff preferences benefit Vietnam
As Vietnam steps into the post-pandemic era, experiences and learnings from the pandemic serve as a reminder of the importance of digital transformation and its crucial technology component. Eunjung Han, consultant at Rouse Legal Vietnam and vice chair of the Digital Sector Committee of the European Chamber of Commerce in Vietnam Despite COVID-19’s negative economic and social impact, Vietnam remains an attractive destination to European investors. According to the European Chamber of Commerce (EuroCham) 2021 White Book, Vietnam’s stable macro-economic climate, with inflation in the single digits, continues to increase investor confidence in the country’s trade and investment environment. Only adding to that, the EU-Vietnam Free Trade Agreement (EVFTA) is paving the way for continued foreign direct investment (FDI) from the EU and is viewed as a means for shared recovery and economic rebound. As the first comprehensive FTA between the EU and a developing country in … [Read more...] about EVFTA underpinning growth in Vietnamese tech market
Seizing the opportunity laid out by its clean energy resources and phasing out coal could be key for Vietnam’s green growth path. Vietnam’s Prime Minister Pham Minh Chinh has set a deadline for sectors to build plans for their sustainable development within the first quarter (Q1) of this year as part of efforts to materialize the country’s sustainable development. Vietnam’s Prime Minister Pham Minh Chinh speaks at COP26 in Glasgow, the UK in November 2021. Photo: VNA The PM demanded in Q2 a comprehensive program to implement Vietnam’s net-zero target that he pledged at the 2021 United Nations Climate Change Conference in Glasgow (COP26) in November 2021. Accordingly, authorized agencies are tasked with eight issues, namely energy transition, reducing greenhouse gas emissions; lowering methane emissions; developing electric cars; planting forests to absorb carbon dioxide; building construction materials and urban development suitable for green and sustainable … [Read more...] about [Net-zero strategy] Which way is possible for Vietnam’s net zero journey?