Vietnam needs better policies to tap solar power potential

The strategy provides support for strengthening the institutions necessary to facilitate and safeguard a more complex and diverse economy with initiatives ranging from the regulation of infrastructure to social insurance to the development of modern planning and budget systems, according to Jim Adams, new general vice president for East Asia Pacific. He said the strategy will focus on (i) improving the business environment, (ii) strengthening social inclusion, (iii) better managing natural resources and the environment, and (iv) improving governance. “Vietnam stands out as an example of a development model that has lifted millions of people out of poverty while ensuring the benefits of its vibrant market economy are fairly evenly distributed across society,” said Mr Adams. Through the International Development Association (IDA), which provides credits to the world’s poorest countries, the World Bank will focus resources on areas key to helping Vietnam implement its own five-year socio-economic development plan (SEDP). The plan aims to further reduce the poverty rate while moving the country towards the goal of attaining middle income status by 2010. According to Phung Khac Ke, deputy governor of the State Bank of Vietnam, the World Bank has been an important partner of Vietnam over the past 13 years. “Besides substantial financial resources, the World Bank has played a vital role in bringing the Government and donors together around a reform roadmap under which Vietnam is moving towards the completion of its transition to a market economy,” said Mr Ke. The World Bank has acknowledged Vietnam’s outstanding achievements…... [read more]

(VEN) - The Ministry of Planning and Investment said that the Vietnam Business Forum 2013 (VBF 2013) would be held on December 3 in Hanoi under the direction of the Ministry of Planning and Investment in association with the World Bank and the International Financial Corporation. Under the theme, "New Phase of Economic Reform - from Program to Action", the forum would focus on the investment environment in Vietnam, sustainable growth, bad debts and bank and state-owned enterprise restructuring. To help Vietnam solve problems for state-owned enterprises, the forum would present state-owned business models in several countries, state-owned enterprise reforms, factors that have hindered economic growth and solutions to accelerate the pace of state-owned enterprise equitization./. Nguyen Hoa... [read more]

(VEN) - "For nearly 20 years in Vietnam, Grontmij has substantially contributed to the country's socioeconomic growth, and in this role has consistently been a reliable partner for the Vietnamese Government and private enterprises." - Enrico Moens, Business Development Director of Grontmij Vietnam, told Vietnam Economic News' Hung Cuong. Why did Grontmij choose Vietnam as an investment destination and which sectors does the company focus on when operating in Vietnam?  Firstly, the Vietnamese economy is experiencing dynamic growth in the Southeast Asian region with major business opportunities in urban development, climate change adaptation and renewable energy, which matches well with our core company business strengths. Since 1992 we have contributed to the sustainable development of Vietnam. We are a leading consulting firm in the fields of water and wastewater, environment, transportation and the energy sector in Vietnam. Within these fields of expertise, we have successfully completed more than 100 public and private projects in Vietnam. As an example, there is the Buon Me Thuot Sanitation Sub-component Project, for which we are the main consultants for designing and building the first separate sewerage system for efficiently collecting and treating domestic wastewater in Vietnam. This demonstration has become a good model for replication of modern wastewater treatment systems in other parts of Vietnam. Could you share with our readers Grontmij's projects in Vietnam? What have these projects contributed to the development of Vietnam? Grontmij has worked on a substantial number of diverse water and environmental projects. The following are examples of how…... [read more]

Hoang Phi The Saigon Times Daily: Can you share with us the meanings of the award to you? - How Kam Chiong: It is a great recognition for us. Selected as The most trusted brand in Vietnam for the Golden Dragon Ward meaning Amway Vietnam is being highly recognized as a leader in direct selling. People and readers have voted for our products as high quality. So we have an opportunity to bring Amway to more people in Vietnam, and vice versa, more people have opportunities to do business with us. In the past five years we have partnered with authorities and media to help the market understand more about direct selling (or multilevel marketing), and we continue to do that. How about your business performance? - Last year we achieved more than US$60 million in revenues and posted high double-digit growth. Our manufacturing plant in Dong Nai Province produces more than 50 different products to this market, and over the past five years we have constantly met the target. Vietnam is considered one of the fastest-growing markets for Amway in the global chain and I think it gives the confidence for the parent company to put in more money to invest in a second factory. Besides, we have established 10 distribution centers all over the country. We also have two big central warehouses, one in Hung Yen and the other in Dong Nai. This year we aim to open two more branches. So we have established such a good…... [read more]

Vietnam is one of the ten best countries in terms using their IDA loans, the World Bank said at a conference it jointly held with the Vietnamese Ministry of Planning and Investment in Hanoi on Wednesday. An IDA loan is lending granted to poor and developing countries by the WB’s International Development Association. WB officials also reminded Vietnam of the possibility of changing the project management board system to increase the effectiveness of money use. Figures from the conference show that there are as many as 305 project management boards across the country, which are in charge of 51 WB-funded projects. Of these, many boards have shown weak ability in developing research plans, and have failed to connect the objectives of the provinces and localities in the projects’ implementation. Earlier this month the WB pledged to provide Vietnam with a US$4.2 billion loan in the 2012-2016 period, under its deals with the Ministry of Planning and Investment. The lending aims to support reforms and key investments needed for Vietnam’s successful transition into a middle-income country, according to the WB’s Country Partnership Strategy (CPS). The expected allocation from the preferential capital sources of the WB and its lending arm, the IDA, for Vietnam would be about 2.8 billion Special Drawing Rights (SDRs), equaling to $4.2 billion, in the new CPS period. This will be the largest amount of capital ever granted by IDA to Vietnam, reflecting Vietnam’s performance as well as an increase in overall IDA resources, the WB in a…... [read more]

The World Bank (WB) has pledged to provide Vietnam with a $4.2 billion loan in 2012-2016 period, according to a recent deals between WB and Vietnamese Ministry of Planning and Investment. Photo: Reuters The lending aims at supporting reforms and key investments for Vietnam’s successful transition process into a middle-income country, according to WB’s Country Partnership Strategy (CPS). The expected allocation from the preferential capital sources of the WB and its arm, International Development Association (IDA), for Vietnam would be about 2.8 billion Special Drawing Rights (SDRs), equaling to $4.2 billion, in the new CPS period. This will be the biggest amount of capital allocated by IDA for Vietnam ever, reflecting Vietnam’s performance as well as increasing the overall IDA resources, said WB. Vietnam will also be able to access capital sources from International Bank for Reconstruction and Development (IBRD) with an expected amount of about $770 million until the middle of 2014. Since returning to Vietnam in 1993, the WB has provided nearly $14 billion worth of credits, loans and aids to help Vietnam sustain growth and fight against poverty. CPS will support investments and counseling programs in a strategic framework consisting of three pillars and three crosscutting themes. The three pillars include the strengthening the competitiveness of Vietnam in the global and regional economies, the increasing the sustainability of the development process of Vietnam, and the opening the access conditions to socioeconomic opportunities. The cross-cutting themes include the strengthening governance, the supporting gender equality and the increasing the…... [read more]

The World Bank Group's Board of Executive Directors has discussed the Vietnam Country Partnership Strategy (CPS) for the 2012-16 period and approved the first three operations under the new CPS, delivering commitment to support its transition to a sucessful middle income country. Victoria Kwakwa, Country Director for the World Bank in Vietnam, said that the World Bank Group's first CPS with Vietnam since it became a lower middle-income country in 2009 would combine continuity from the previous CPS programme with the introduction of some gradual strategic shifts aimed at sharpening strategic focus within the programme, enhancing operational efficiency, and delivering development results faster. Besides outlining Vietnam's key development achievements, the CPS also highlighted remaining challenges, including maintaining high levels of growth with macroeconomic stability, strengthening economic competitiveness, managing the environment and natural resources and tackling persistent poverty in remote communities. The CPS was expected to help Vietnam address these challenges and implement the Government's Socio-economic Development Strategy during the next 10 years. It would support investment, programmes and advisory services organised into a strategic framework of three key pillars and three cross-cutting themes. The pillars are to increase the country's competitiveness, sustainability of its development and access to social and economic opportunities. The cross-cutting themes are to strengthen governance, promote gender equality and improve resilience in the face of external economic shocks, natural hazards and the impacts of climate change. The World Bank has provided nearly $14 billion in credit, loans and grants to help Vietnam sustain growth and fight…... [read more]

ILDEX Vietnam 2010 is ready to offer technology and business solutions for Vietnam's livestock, dairy, meat-processing, and aquaculture industries according to NEO - the organizer of ILDEX Vietnam 2010 which will take place on March 25-27, 2010 at the New Saigon Exhibition and Convention Center, Ho Chi Minh City, Vietnam. N.C.C. Exhibition Organizer Co., Ltd., (NEO) announced the readiness of ILDEX Vietnam 2010 which will take place on March 25-27, 2010 at the New Saigon Exhibition and Convention Center in Ho Chi Minh City, Vietnam. At the Kick-off Launching of ILDEX Vietnam 2010, Ms. Ladda Mongkolchaivivat, General Manager, N.C.C. Exhibition Organizer (NEO) told industry representative that "ILDEX Vietnam 2010 will be the largest livestock exhibition in Vietnam. It will be a technology showcase of 125 companies from 22 countries including country pavilion from France, Singapore, Korea, China, Shanghai City, and the Netherlands. A number of international governmental and industrial bodies such as Korean Animal Health Products Association, Canadian Swine Association, British Pig Association, Vietnam Department of Animal Health, Vietnam Department of Livestock Production and CCPIT Shanghai have confirmed their participation at this industrial event." With heavy promotion campaign and full government support especially from the Ministry of Agricultural and Rural Development of Vietnam, NEO believes that ILDEX Vietnam 2010 will attract a lot of traders and buyers from over 46 cities and provinces surrounding Ho Chi Minh City. Free shuttle service will be provided for trade visitors from those areas. ILDEX Vietnam 2010 comes in perfect timing as Vietnam livestock,…... [read more]

The World Bank (WB) announced a new partnership strategy with Vietnam in Hanoi on February 6, under which the global bank governing body will provide 4 billion USD in long-term interest free credits to support the country till 2011. The strategy provides support for strengthening the institutions necessary to facilitate and safeguard a more complex and diverse economy with initiatives ranging from the regulation of infrastructure to social insurance to the development of modern planning and budget systems, according to Jim Adams, new general vice president for East Asia Pacific. He said the strategy will focus on (i) improving the business environment, (ii) strengthening social inclusion, (iii) better managing natural resources and the environment, and (iv) improving governance. "Vietnam stands out as an example of a development model that has lifted millions of people out of poverty while ensuring the benefits of its vibrant market economy are fairly evenly distributed across society," said Mr Adams. Through the International Development Association (IDA), which provides credits to the world's poorest countries, the WB will focus resources on key areas to helping Vietnam implement its own five-year socio-economic development plan (SEDP). The plan aims to further reduce the poverty rate while moving the country towards the goal of attaining middle income status by 2010. According to Phung Khac Ke, deputy governor of the State Bank of Vietnam, the WB has been an important partner of Vietnam over the past 13 years. "Besides substantial financial resources, the WB has played a vital role in…... [read more]

Under the document, the Prime Minister required the governor to “continue focusing on doing research and implementing appropriate solutions to mobilise sources of foreign currency and gold among the people to serve development and investment”. At a meeting with the Prime Minister’s working group led by Minister – Chairman of the Government Office Mai Tien Dung last month, the request to mobilise sources of foreign currency and gold was also stressed upon. At the meeting, Governor Le Minh Hung also expressed his views on the mobilisation of foreign currency and gold from the people by means of stimulating transformation in the past few years. The governor said overall macro-economic solutions of the past years were very successful, thanks to which foreign currency resources were transformed into Vietnamese dong. In 2016, the State Bank of Vietnam (SBV) bought nearly US$10 billion to increase its foreign exchange reserve, a large amount of which came from foreign currency held by the people, thereby turning into dong. Part of the resource was brought directly by the people into production and business while the other part was sent to commercial banks. “We think this is the best solution to mobilise resources in our context but still maintain macro stability, and not let fluctuation go out of control. Even with gold, in the last few years, we have not lost foreign currency to import gold; the people also are not pouring resources into buying gold as before, but utilising resources for the economy. We will continue…... [read more]




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