U19 viet nam

Word Bank, Green Climate Fund provide Việt Nam with $86.3 million to spur energy efficiency investments

March 9, 2021 by vietnamnews.vn

Workers from Vietnam Electricity (EVN) instruct a business owner in Hà Nội’s Thanh Oai District on how to use power economically and efficiently. — VNA/VNS Photo

HÀ NỘI — The World Bank, acting on behalf of the Green Climate Fund (GCF), has signed a grant worth US$11.3 million with the State Bank of Việt Nam to support the development of a commercial financing market for industrial energy efficiency investments.

The total financing from the GCF also includes a $75 million guarantee.

Out of the grant, $8.3 million will be used to build capacities for the private sector to identify, appraise and execute energy efficiency projects.

It will also provide technical assistance to the Ministry of Industry and Trade and authorities to strengthen policy frameworks and regulations and create an enabling environment to accelerate the energy efficiency market in Việt Nam.

The remaining grant funds and the guarantee will be used to establish a risk-sharing facility to provide partial credit guarantees to support local banks who may risk potential defaults on loans for energy efficiency projects.

By reducing lending risks, the facility is expected to mobilise about $250 million of commercial financing to be provided to industrial enterprises and energy service companies at competitive terms and with low collateral requirements.

Carolyn Turk, Country Director for the World Bank in Việt Nam, said: “Scaling up energy efficiency is the single best and lowest cost option to achieve multiple goals at once: meeting energy demand, preventing pollution and reducing greenhouses emission while also increasing industry competitiveness.”

“Against the context of limited public financing for energy, the risk-sharing facility is an innovative financial instrument to crowd in private sector investment financing for a greater uptake of industry-wide energy efficiency measures,” she added.

The grant and guarantee are executed under the ‘Việt Nam Scaling up Energy Efficiency Project’ which aims to support the country in achieving energy efficiency targets in the Green Growth Strategy as well as emission reduction objectives under the National Determined Contributions.

According to the World Bank, as a country whose level of energy intensity and emission intensity is among the highest in the region, Việt Nam is actively embarking on the green energy transition and decarbonisation pathway.

The World Bank’s Low Carbon Study estimates Việt Nam could save up to 11 GW of new generation capacity by 2030 if comprehensive demand-side energy efficiency investments are carried out. The energy efficiency investment need for key industries in Viet Nam has been estimated at around $3.6 billion. — VNS

Shares cut early gains to end lower as bank stocks decline

March 9, 2021 by vietnamnews.vn

A customer carries out a transaction at a branch of Asia Commercial Bank (ACB) in Hà Nội. ACB lost 2 per cent on Monday. Photo courtesy of ACB

HÀ NỘI — Vietnamese shares trimmed early gains on Monday with the VN-Index closing lower as banking stocks came under selling pressure towards the final minutes of trading.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange edged down 0.04 per cent to close at 1,168.27 points.

It had risen 0.02 per cent last week.

More than 652.7 million shares were traded on the southern bourse, worth VNĐ15.6 trillion (US$673.9 million).

Market breadth was positive with 274 gaining stocks and 183 losers.

After the lunch break, the market fluctuated in a quite negative direction as many banking stocks dropped sharply and pushed the VN-Index down to the reference level.

Asia Commercial Bank (ACB) fell 2 per cent to VNĐ31,800 per share, VPBank (VPB) lost by 1.1 per cent to VNĐ41,350 per share, Vietcombank (VCB) declined by 1.5 per cent to VNĐ95,200 per share and Techcombank (TCB) dropped by 0.9 per cent to VNĐ38,850 per share.

On the opposite side, the oil and gas sector increased, becoming one of the best-performing sectors in Việt Nam on Monday, data on vietstock.vn showed.

Vietnamese oil and gas stocks grew well, including PetroVietnam Gas JSC (GAS), Viet Nam National Petroleum Group (PLX), PetroVietnam Drilling & Well Services Corporation (PVD), PetroVietnam Power Corp (POW), and PetroVietnam Technical Services (PVS).

“The market was moving sideways around 1,168 points. Liquidity increased slightly from the previous session and market breadth was positive, showing that investment cash flow is spreading,” said BIDV Securities Co.

“Foreigners were net sellers on both HoSE and HNX. The VN-Index is likely to consolidate in the range of 1,160-1,200 points in the coming sessions,” said the company.

Foreign investors net sold VNĐ1.25 trillion on HOSE, including PVPower (POW) (VNĐ212.8 billion), Vinamilk (VNM) (VNĐ203.9 billion) and Hòa Phát Group (HPG) (VNĐ171.5 billion). Foreigners were net sellers on the HNX to the tune of VNĐ9.56 billion.

The large-cap tracker VN30-Index gained 0.33 per cent to stay at 1,170 points.

Seventeen of the 30 large-cap stocks in the VN30 basket decreased while 12 climbed.

In the VN-30 basket, Masan Group (MSN) was the biggest decliner with a 2 per cent drop, Vinhomes (VHM), Vietcombank (VCB), VPBank (VPB), Mobile World Group (MWG) and Khang Điền House (KDH) all lost more than 1 per cent.

In contrast, PVPower (POW) maintained its uptrend momentum of a more than 5 per cent increase, PetroVietnam Gas JSC (GAS) advanced 2 per cent, while Novaland (NVL) and The Refrigeration Electrical Engineering Corporation (REE) both climbed 1 per cent.

On the Hà Nội Stock Exchange, the HNX-Index rallied 1.39 per cent to end Monday at 263.42 points.

More than 144.7 million shares were traded on the northern market, worth VNĐ2.1 trillion. — VNS

Book on VN-Russia relationship launched in Moscow

March 9, 2021 by vietnamnews.vn

The book compiled by Vietnamese ambassador to Russia Ngô Đức Mạnh was launched last weekend in Moscow. VNA/VNS Photo Trần Hiếu

HÀ NỘI — A book on the 70 years of Việt Nam-Russia relations was launched in Moscow recently.

The book consists of five parts including 700 images and documents classified into diplomatic events and co-operation activities between the two countries in politics, economy, defence-security, culture, education, science, and people-to-people diplomacy.

The book was compiled by Vietnamese Ambassador to Russia Ngô Đức Mạnh to promote relations between the two countries.

“In my new position, I have favourable conditions to turn my wish into reality. I have collected, systematised and compiled the book,” said the ambassador at the book launching ceremony last weekend in Moscow.

Attending the ceremony were representatives of the Russian Ministry of Foreign Affairs, Federation Council, State Duma, administrations of Moscow, Saint Petersburg, and other localities, as well as local scholars, people and Vietnamese expatriates.

Speaking at the event, ambassador Mạnh said the book is a gift of gratitude for leaders, people, and readers of the two countries, which, he said, shared a traditional friendship of closeness, trust, mutual understanding and support during the wartime and in the current national construction cause.

The 624-page book gives an overview of the Việt Nam-Russia ties and introduces Vietnamese President Hồ Chí Minh’s activities in Russia, who set the foundation for bilateral relations.

In the book’s introduction, Vietnamese Deputy Prime Minister and Minister of Foreign Affair Phạm Bình Minh wrote today’s Việt Nam-Russia relations have inherited from the Việt Nam-Soviet Union relationship with the precious assets of sincere affection, and mutual support and assistance, forging a strong and loyal friendship between the two nations.

Russia was the first country that Việt Nam established a strategic partnership in 2001 and a comprehensive strategic partnership in 2012.

Chairwoman of the Federation Council Valentina Matviyenko stated the friendship, formed when Việt Nam was fighting to safeguard its independence years ago, has been fortified over the past years and become a common asset of both nations. — VNS

Vietnam aviation authorities work on flight resumption to South Korea, Japan

September 3, 2020 by hanoitimes.vn

The Hanoitimes – Passengers on entry must install tracing software so as for them to be monitored by the authorities of Japan and South Korea.

Authorities of Vietnam, Japan and South Korea have agreed on the reopening of international flights in terms of destinations, frequency and preventive measures, Dinh Viet Thang, director of the Civil Aviation Authority of Vietnam said.

A worker is disinfecting a Vietnam Airlines airplane. Photo: Vietnam Airlines

The parties have agreed on the principle of the resumption in phases along with the epidemic control progress in each country.

The CAAV has agreed with the South Korean and Japanese authorities on the air routes to be reopened which are from Seoul to Hanoi/Ho Chi Minh and vice versa and between Tokyo and Hanoi/Ho Chi Minh.

Regarding flight frequency, Vietnamese air carriers will conduct two flights using Boeing 777 and A321 aircraft and each partner from Japan and South Korea will fly the two others using Boeing 787 and Airbus A320, which are expected to start from September 15.

Passengers entering Japan and South Korea are required to meet the two countries’ anti-Covid-19 regulations.

South Korea and Japan require passengers entering the two countries to have a coronavirus-free certificate three days prior to the air departure.

Passengers on entry must conduct re-testing and undergo self-quarantine at the concentrated facilities and install tracing software so as for them to be monitored by the authorities of Japan and South Korea.

Earlier, the CAAV reported the plan to the Ministry of Transport and the Ministry is currently working with relevant stakeholders to report to the government.

International flights vital to reboot aviation industry

The international market plays a remarkably important role for Vietnam’s aviation industry, Thang said. In 2019, international passengers accounted for half of Vietnam’s air passenger volume. Revenue from international routes accounted for more than 60% of total revenue.

During January – August, international arrivals by air dropped 65.7% year-on-year to around 3 million. Vietnam welcomed nearly 3.8 million international visitors in the first eight months of 2020, a drop of 66.6% over the same period last year, according to the General Statistics Office.

The reopening of international routes will help local airlines recover from the impact of Covid-19, Thang added.

It also helps Vietnam boost trade with other countries, but should be conducted in parallel with disease prevention, according to the prime minister’s instruction, Thang said.

Vietnam wishes Abe Shinzo health and happiness

August 29, 2020 by hanoitimes.vn

The Hanoitimes – During his two terms as Japan’s Prime Minister, Mr. Abe has visited Vietnam at least four times and helped strengthen the Japan-Vietnam relations.

Vietnam wishes Prime Minister Abe Shinzo good health and happiness, said Spokesperson Le Thi Thu Hang of the Vietnamese Ministry of Foreign Affairs, hours after Mr. Abe announced his resignation due to health problems.

PM Abe Shinzo and his Vietnamese counterpart Nguyen Xuan Phuc walk in Hoi An town in Quang Nam province, November 11, 2017 when he visited Vietnam to attend the APEC summit. Photo: VNA

Mr. Abe, who just four days ago set a record of staying in power for 2,799 consecutive days, will leave office, ending his nearly eight-year stint as Japan’s longest-serving leader due to a flare-up of his chronic intestinal disease.

Vietnamese adopts healthier, sustainable lifestyle choices: report

March 9, 2021 by bizhub.vn

More Vietnamese adop healthier and sustainable lifestyle. — VNS Photo

Viet Nam is ahead of the global average when it comes to adopting healthier and more sustainable lifestyle choices, according to a new public opinion report conducted by GlobeScan and supported by Visa.

Across the world, people have faced exceptional circumstances and have been forced to adapt to a new way of life.

In total, 27,000 people from 27 markets were asked about attitudes, opinions, and behaviors linked to enabling healthier and more sustainable lifestyles.

The report found that consumers in Viet Nam were more likely to support socially responsible companies.

Some 47 per cent of those surveyed in the country said they had supported a socially responsible company in the past year, against a global average of 33 per cent.

People in Viet Nam are much more likely to seek out information about healthy lifestyles. At least 82 per cent of respondents said they had sought out information related to healthier lifestyles in the past year, well above the global average of 56 per cent.

Those in Viet Nam displayed a significantly higher interest in environmentally friendly lifestyle choices. At least 81 per cent said they had sought out information about environmentally friendly lifestyles in the past year, versus a global average of 47 per cent.

According to the survey, people in Viet Nam are already taking proactive steps towards healthier and more sustainable lifestyles.

Ninety per cent said they had made changes to their lifestyles to be more environmentally friendly in the past year, and 87 per cent made changes to be healthier, while 84 per cent were trying to become more helpful to others.

Dang Tuyet Dung, Visa country manager for Viet Nam and Laos, said: “It is encouraging to see that consumers in Viet Nam are already taking concrete steps to lead more healthy and sustainable lifestyles.”

Despite Vietnamese displaying a greater willingness to do their bit to improve their own lives, the lives of others and the environment, there is still a gap between aspiration and actual behavior.

Environmentally friendly lifestyle changes also show the same pattern. This lack of follow-through suggests there is an opportunity for guidance and solutions from key players across the world to enable healthier and more sustainable living.

This is supported by a call for greater cooperation between companies, government, NGOs and scientists to find solutions to social and environmental problems.

When asked what companies could do to help them live healthily and sustainably, people in Viet Nam listed a desire for new products that are better for both people and the environment as a top priority, while affordable products and services ranked second.

With the importance of saving money, consumers rank reducing energy consumption and taking care of financial health and wellbeing as first and third in the list of top actions they would like to do more of in the year.

With changes to income and financial stability in the wake of the pandemic, it is likely that the priority placed on affordability will intensify.

Findings from the study also show that people are put off by actions they believe are difficult. When trying to be healthier and more sustainable, they are most likely to alter aspects of their life if they perceive it to be relatively easy to do so.

Typically, these behaviors are linked to improving personal well-being, ethical purchasing, and actions within the household (such as saving water at home, eating healthy food, choosing products with less packaging, and buying from responsible brands).

When encouraging behavior changes, evidence from this study identifies the importance of removing barriers and providing clear information. — VNS