Viet nam viet nam song

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

Ambassador Đặng Đình Quý, Permanent Representative of Việt Nam to the UN. VNA/VNS Photo

HÀ NỘI — Ireland and 11 member states of the UN Security Council, including Việt Nam, on Monday held a meeting entitled ‘Call to Lead by Example: Ensuring the Full, Equal and Meaningful Participation of Women in UN-led Peace Processes’ on the occasion of the International Women’s Day (March 8).

Addressing representatives of nearly 60 countries and UN agencies, UN Under-Secretary-General for Political and Peacebuilding Affairs Rosemary DiCarlo highlighted the UN’s efforts in pursuit of this common objective via the mainstreaming of gender equality in the UN system, noting that women currently account for 54 per cent of the senior leadership of special political missions.

She said the UN mission in Afghanistan has assisted a radio series about women’s participation in peace processes. The UN has also organised an online consultation in Yemen with the presence of more than 500 women and representatives of social organisations. Special envoys of the UN Secretary-General in Syria, Iraq, and Yemen have also used mechanisms to ensure women-related priorities are included in discussions.

However, DiCarlo added, to promote women’s engagement in peace processes, the UN should have adequate and sustainable financing sources and boost long-term partnerships to enable sustainable outcomes.

Countries present at the meeting agreed that the enhancement of women’s participation in peace processes holds great significance, stressing the importance of the elimination of barriers facing women in the areas of peace and security.

They also shared measures and experience in this regard such as raising awareness, building national action plans, and empowering and increasing development support for women in all stages of peace processes.

In his speech, Ambassador Đặng Đình Quý, Permanent Representative of Việt Nam to the UN, pointed out both achievements in and challenges to the augmentation of women’s participation in peace processes.

He emphasised the need for improvement of the common awareness of women’s full, equal, and meaningful participation in peace processes at all levels. Women and girls’ rights, interests, and demand should be promoted to ensure women are equal partners in the earliest stages of peace and political processes.

Countries must guarantee women’s involvement in the building of policies, strategies, and initiatives on peace and security at the national, regional, and international levels, Quý said, noting that women should be equipped with knowledge and skills, politically empowered, and given access to fully and equally take part in the decision and policy-making processes.

To obtain tangible and long-term outcomes, the ambassador said that it is necessary to foster international co-operation, share resources and experience, and call on sponsors to realise the commitment of providing 15 per cent of official development assistance capital for gender equality promotion in conflict-hit nations.

He said Việt Nam always attaches importance to women’s role, underlining the country’s accomplishments in stepping up their role in peace and security issues, including peace processes. — VNS

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

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

The New Zealand Embassy will provide NZ$ 50,000 (US$35,540) to a project to support 350 women workers in informal employment as street vendors, junk collectors, or housemaids, in cities of Đà Nẵng and Huế over the coming three months. Photo courtesy of New Zealand Embassy

HÀ NỘI — As many as 350 women in the informal economy will receive cash and training assistance worth NZ$50,000 (US$35,540) to overcome the impact of COVID-19.

The assistance, delivered by a project by New Zealand Embassy and ActionAid Vietnam, will reach female workers in the cities of Đà Nẵng and Huế who are working as street vendors, junk collectors, or housemaids.

Speaking at the launch of the project “Leave No One Behind in the Struggle Against COVID–19”, New Zealand Chargé d’Affaires Joseph Mayhew said this was is a practical initiative to help ease the economic impacts of COVID-19 and strengthen the resilience of more than 350 women workers, and their families, in Đà Nẵng and Huế’s informal sectors.

“I believe that supporting women workers in sectors that are hardest hit by the pandemic is a vital component of robust, inclusive, and equitable recovery,” he said.

The COVID-19 pandemic has disrupted Việt Nam’s tourism industry, with Đà Nẵng and Thừa Thiên-Huế, the two major international tourism hubs, particularly affected.

The project includes training on household economic literacy and management, women’s rights and child nutrition. The financial support can be used to purchase food, living essentials or small livelihood options.

According to ActionAid Vietnam’s recent research, more than 90 per cent of tourism sector workers lost employment and income due to COVID-19. In Đà Nẵng and Thừa Thiên-Huế, almost 90,000 people either became unemployed or suffered from greatly reduced income.

Only 22 per cent of the (ActionAid’s) surveyed workers currently have access to the Government’s VNĐ62 trillion relief package.

“This project is one way to help women workers become more visible in the public eye, and at the same time trying to set up a practical model where support can be delivered to the target groups and individuals in an efficient and transparent manner,” said Hoàng Phương Thảo, Country Director of ActionAid Vietnam.

“We want to contribute to the commitments of Việt Nam and New Zealand, of Leaving No One Behind in the struggles to overcome COVID-19,” she said. — VNS