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Europe “greening” the FDI into Vietnam

Green FDI inflows into Vietnam are being implemented step by step, with pioneering steps by European businesses.

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The amount of green bonds issued globally in 2022 is about $1,350 billion, a record-high number. According to the ESG Solutions report of the credit rating agency Moody’s, just five years ago, this figure did not exceed $200 billion.

The global business world is paying special attention to sustainable development. Europe is the largest issuer of green bonds. In 2021, corporate bonds in the “old continent” account for 56% of the total value of bonds issued globally.

The wave of transition to a green economy does not stop in Europe. Asia is also investing heavily in green growth, with green bonds in the region accounting for 22% of global issuance in 2021.

Opportunities from Vietnam’s Net Zero commitment

Vietnam’s commitment to net zero emissions by 2050 by Prime Minister Pham Minh Chinh in Glasgow has set the stage for a series of sweeping policy initiatives on sustainable development and has received enthusiastic support from the government. European investors.

Following the commitments of the Prime Minister of Vietnam at COP 26, the National Strategy for Growth in the 2021-2030 period with a vision to 2050 was approved with objectives such as reducing the intensity of greenhouse gas emissions in the world. GDP, greening economic sectors, greening lifestyles and sustainable consumption.

However, public policy on green growth is not enough to address long-term sustainability challenges as a whole. Establishing and maintaining complex energy infrastructure requires the mobilization of capital, technology and human resources.

EuroCham and the European business community want to participate and play an important role in the Vietnamese government’s plan, said Mr. Alain Cany, Chairman of the European Chamber of Commerce in Vietnam (EuroCham), who witnessed the commitment. COP26 conclusion of Prime Minister Pham Minh Chinh in Glasgow, said.

After the Government made a commitment to reduce net emissions to zero by 2050, there have been many new high-quality and sustainable FDI projects choosing Vietnam as a destination that promises to create a “wave of “New investment changes the economy. According to foreign investors, the macroeconomic background is stable, so the new FDI inflows are in the “green” direction, serving sustainable development, strongly directed to Vietnam.

Recently, LEGO Group officially started construction of a factory worth more than 1 billion USD in Binh Duong. This event is an affirmation of the trend of “greening” foreign investment flows in Vietnam. The project is an important milestone for Vietnam’s efforts to attract green FDI. This is not the only project contributing to the trend of “greening” FDI inflows here.

Not long ago, another Danish company, Pandora, decided to invest in a $100 million project in Vietnam. Pandora is expected to use 100% renewable energy, creating more than 6,000 jobs.

Many corporations from Austria, Denmark and Norway are also making similar moves. In May, Equinor, Norway’s largest energy company, opened an office in Hanoi expecting promising opportunities from the energy transition here.

“With a policy to encourage sustainable growth, Vietnam can be ahead of many other countries in the region,” said Mr. Alain Cany.

EuroCham is implementing an investment promotion program, bringing about 300 European businesses in green economic fields to Vietnam for investment research. With policies to encourage sustainable growth.

 

Experience from Europe

Creating a premise to promote green growth in Vietnam, representing more than 1,200 businesses with deep expertise in the field of green growth, EuroCham will organize a 3-day conference and exhibition from November 28 to 30 in Hanoi. Ho Chi Minh City.

According to EuroCham, the 2022 Green Economy Forum & Exhibition (GEFE 2022) at THISO SkyHall, Thu Duc City, will facilitate the promotion of sustainable development by transferring technology, capital and knowledge from Europe to Vietnamese enterprises. This move strongly reflects and reinforces EU investment trends in Vietnam and EuroCham’s vision for sustainable development.

The main objective of GEFE 2022 is to assist Vietnam in achieving its COP26 commitments and fulfilling the socio-economic development goals outlined in the National Green Growth Strategy 2021-2030.

Although the Vietnamese government and businesses are at the forefront of the green transition, European businesses are here to mobilize capital and provide green technology, said Mr. Alain Cany.

European businesses and policymakers have deep expertise in green, sustainable industries and renewable energy development. Creating a cooperative relationship between them with the Vietnamese government and businesses is ideal, Mr. Alain Cany added.

“Vietnam has a lot of potential in the solar and wind energy sectors. European companies with the right expertise and technology can tap into this potential. And Vietnam can greatly benefit from it. expertise and cutting-edge technology that European policymakers have built up over decades.”

According to EuroCham, GEFE 2022 will have three conferences on green energy and finance on November 28, waste and sustainability on November 29, and innovation and entrepreneurship on November 30. Green will be discussed, including but not limited to circular economy, renewable energy, smart city, green tourism, sustainable agriculture and water treatment.

In addition, a three-day exhibition showcases cutting-edge green technologies and sustainability initiatives from Europe. More than 150 exhibitors, including companies related to renewable energy, banks, FMCG and NGOs, are expected to attend the event.

How to join GEFE 2022:

Join GEFE 2022 by scanning the QR code below. There, you can find information about the event’s agenda, ticketing, exhibitors, and more. Tickets are required for the conferences but the exhibition is free of charge.

Source: https://e.nhipcaudautu.vn/economy/europe-greening-the-fdi-into-vietnam-3349116/

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330,000 visitors bring Hanoi $42.6mn on Tet

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Hanoi earned more than VND1 trillion (US$42.6 million) from 330,000 visitors in five days of the seven-day 2023 Tet (Lunar New Year) holiday, according to the city’s tourism department.

The number of visitors, calculated from January 21 to Thursday, is three-fold that of the same period last year.

That included 32,000 international visitors, most of whom came from South Korea, Japan, Singapore, Thailand, and Canada, and 300,000 domestic tourists.

The Van Mieu – Quoc Tu Giam (Temple of Literature – Imperial Academy) in Dong Da District welcomed 80,000 people, while the same number of visitors came to the Huong Pagoda in My Duc District.

The UNESCO-recognized Thang Long Imperial Citadel in Ba Dinh District received 19,680 visitors.

About 18,000 people visited the Co Loa relic site in Dong Anh District.

Duong Lam Village and the Son Tay ancient fortress citadel in Son Tay Town drew some 15,000 visitors, Hanoi Zoo in Ba Dinh District received 17,235 people.

The Hoa Lo Prison relic site in Hoan Kiem District, Hong Van ornamental creature village in Thuong Tin District, Bat Trang pottery village in Gia Lam District, and many temples in the capital city also recorded a sharp increase in visitors.

The city’s total tourism revenue during the five-day period is estimated at VND1 trillion.

The occupancy rate of hotel rooms reaches 40 percent during the same period, according to the Hanoi Department of Tourism, which expects the city to remain a favorite destination for tourists in the coming days, when many attractive festivals begin at famous spiritual tourist attractions.

The 2023 Tet break lasted seven days from January 20 to 26 in Vietnam.

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Hanoi earned more than VND1 trillion (US$42.6 million) from 330,000 visitors in five days of the seven-day 2023 Tet (Lunar New Year) holiday, according to the city’s tourism department.

The number of visitors, calculated from January 21 to Thursday, is three-fold that of the same period last year.

That included 32,000 international visitors, most of whom came from South Korea, Japan, Singapore, Thailand, and Canada, and 300,000 domestic tourists.

The Van Mieu – Quoc Tu Giam (Temple of Literature – Imperial Academy) in Dong Da District welcomed 80,000 people, while the same number of visitors came to the Huong Pagoda in My Duc District.

The UNESCO-recognized Thang Long Imperial Citadel in Ba Dinh District received 19,680 visitors.

About 18,000 people visited the Co Loa relic site in Dong Anh District.

Duong Lam Village and the Son Tay ancient fortress citadel in Son Tay Town drew some 15,000 visitors, Hanoi Zoo in Ba Dinh District received 17,235 people.

The Hoa Lo Prison relic site in Hoan Kiem District, Hong Van ornamental creature village in Thuong Tin District, Bat Trang pottery village in Gia Lam District, and many temples in the capital city also recorded a sharp increase in visitors.

The city’s total tourism revenue during the five-day period is estimated at VND1 trillion.

The occupancy rate of hotel rooms reaches 40 percent during the same period, according to the Hanoi Department of Tourism, which expects the city to remain a favorite destination for tourists in the coming days, when many attractive festivals begin at famous spiritual tourist attractions.

The 2023 Tet break lasted seven days from January 20 to 26 in Vietnam.

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Source: https://tuoitrenews.vn/news/business/20230127/330000-visitors-bring-hanoi-426mn-on-tet/71147.html

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Vietnamese firms secure orders to export durians to China during Tet

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Many Vietnamese enterprises have won orders to ship durians to China during this Lunar New Year (Tet) holiday after the first 100-metric-ton Vietnamese durian batch was exported to the northern neighbor via official channels in September last year.

A durian purchasing company in Binh Phuoc Province, southern Vietnam, informed that it had secured an order to export 500,000 metric tons of durians to China.

Although farms in the province fail to supply the sufficient volume, the company will collect durians from other eligible farms.

Meanwhile, Van Xuan Phat Import-Export Co. Ltd. based in Ho Chi Minh City on Thursday said that the company would monthly export 1,000 metric tons of durians.

Huynh Van Dung, a trader in Hanoi, said China has a plan to buy one million Vietnamese durians, which are preferred and quickly consumed in the most populous country in the world.

According to Nguyen Dinh Tung, general director of Vina T&T Group, which specializes in exporting fruits and is among the 25 Vietnamese enterprises being issued with a packaging unit code, Vina T&T and Hong Kong’s Sunwah Group had inked a contract to export Vietnamese durians to Hong Kong.

Vietnam expects to ship 90,000 metric tons, or some 4,500 containers, of fresh durians abroad this year.

Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, said that although Vietnam has just exported durians to China through official channels since September 2022, the country has generated some US$350 million from durian exports.

Therefore, Nguyen forecast that durians will help earn over $1 billion in export revenue in 2023.

“Durian growing areas issued with codes are entitled to higher export prices. Durians were priced at VND80,000-100,000 [$3.4-4.3] per kilogram in the Mekong Delta ahead of Tet.

“To buy durians from these areas, enterprises must put down deposits,” Nguyen added.

China imported 821,600 metric tons of fresh durians worth over $4.2 billion in 2021, surging 42.7 and 82.4 percent, respectively, year on year.

It is the largest buyer of durians in the world. Thailand is currently the largest supplier of durians to China, accounting for a 40 percent market share.

Local experts forecast that the country’s durian exports will depend on China in the future.

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Many Vietnamese enterprises have won orders to ship durians to China during this Lunar New Year (Tet) holiday after the first 100-metric-ton Vietnamese durian batch was exported to the northern neighbor via official channels in September last year.

A durian purchasing company in Binh Phuoc Province, southern Vietnam, informed that it had secured an order to export 500,000 metric tons of durians to China.

Although farms in the province fail to supply the sufficient volume, the company will collect durians from other eligible farms.

Meanwhile, Van Xuan Phat Import-Export Co. Ltd. based in Ho Chi Minh City on Thursday said that the company would monthly export 1,000 metric tons of durians.

Huynh Van Dung, a trader in Hanoi, said China has a plan to buy one million Vietnamese durians, which are preferred and quickly consumed in the most populous country in the world.

According to Nguyen Dinh Tung, general director of Vina T&T Group, which specializes in exporting fruits and is among the 25 Vietnamese enterprises being issued with a packaging unit code, Vina T&T and Hong Kong’s Sunwah Group had inked a contract to export Vietnamese durians to Hong Kong.

Vietnam expects to ship 90,000 metric tons, or some 4,500 containers, of fresh durians abroad this year.

Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, said that although Vietnam has just exported durians to China through official channels since September 2022, the country has generated some US$350 million from durian exports.

Therefore, Nguyen forecast that durians will help earn over $1 billion in export revenue in 2023.

“Durian growing areas issued with codes are entitled to higher export prices. Durians were priced at VND80,000-100,000 [$3.4-4.3] per kilogram in the Mekong Delta ahead of Tet.

“To buy durians from these areas, enterprises must put down deposits,” Nguyen added.

China imported 821,600 metric tons of fresh durians worth over $4.2 billion in 2021, surging 42.7 and 82.4 percent, respectively, year on year.

It is the largest buyer of durians in the world. Thailand is currently the largest supplier of durians to China, accounting for a 40 percent market share.

Local experts forecast that the country’s durian exports will depend on China in the future.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20230126/vietnamese-firms-secure-orders-to-export-durians-to-china-during-tet/71137.html

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Int’l tourists to Vietnam’s Phu Quoc during Tet surge

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Phu Quoc Island off Kien Giang Province, southern Vietnam, welcomed some 70,000 tourist arrivals between January 20 and 24, or the 29th day of the 12th month of the last lunar year and the third day of this lunar year, including 4,400 international visitors, surging 64 percent year on year, according to the provincial Department of Tourism.

The city earned VND30.9 billion (US$1.3 million) in tourism revenue in the period.

Meanwhile, the entire Kien Giang Province served 134,160 tourist arrivals, with 4,800 of them being foreigners, soaring 75.9 percent over the same period last year.

On Wednesday, flights, ferries and high-speed vessels from Rach Gia and Ha Tien Cities to Phu Quoc were operated as normal.

Due to the high number of tourists to the island city, the occupancy rate of lodging facilities in the city reached some 85 percent on average.

Huynh Quang Hung, chairman of the People’s Committee of Phu Quoc City, said the city has advantages of beautiful beaches and the favorable climate.

The number of international visitors to Phu Quoc was forecast to surge this year if some air routes connecting the city with China and Russia are reopened.

“Tourists have come to Phu Quoc in droves this Tet. Lodging facilities in the city have reported an occupancy rate of 80, even 90 percent.

“Tourism service providers in Phu Quoc have launched promotion programs to attract tourists.

“In 2023, Hon (Kiss) Bridge in An Thoi Ward will be introduced to attract more local and foreign guests to Phu Quoc,” Hung added.

Earlier, Kien Giang Province expected to welcome more than 400 domestic and international flights to Phu Quoc and Rach Gia cities and over 230 ferry and vessel services to islands off the province during eight-day Lunar New Year holiday, from the 29th day of the 12th month of the last lunar year to the sixth day of this lunar year.

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Phu Quoc Island off Kien Giang Province, southern Vietnam, welcomed some 70,000 tourist arrivals between January 20 and 24, or the 29th day of the 12th month of the last lunar year and the third day of this lunar year, including 4,400 international visitors, surging 64 percent year on year, according to the provincial Department of Tourism.

The city earned VND30.9 billion (US$1.3 million) in tourism revenue in the period.

Meanwhile, the entire Kien Giang Province served 134,160 tourist arrivals, with 4,800 of them being foreigners, soaring 75.9 percent over the same period last year.

On Wednesday, flights, ferries and high-speed vessels from Rach Gia and Ha Tien Cities to Phu Quoc were operated as normal.

Due to the high number of tourists to the island city, the occupancy rate of lodging facilities in the city reached some 85 percent on average.

Huynh Quang Hung, chairman of the People’s Committee of Phu Quoc City, said the city has advantages of beautiful beaches and the favorable climate.

The number of international visitors to Phu Quoc was forecast to surge this year if some air routes connecting the city with China and Russia are reopened.

“Tourists have come to Phu Quoc in droves this Tet. Lodging facilities in the city have reported an occupancy rate of 80, even 90 percent.

“Tourism service providers in Phu Quoc have launched promotion programs to attract tourists.

“In 2023, Hon (Kiss) Bridge in An Thoi Ward will be introduced to attract more local and foreign guests to Phu Quoc,” Hung added.

Earlier, Kien Giang Province expected to welcome more than 400 domestic and international flights to Phu Quoc and Rach Gia cities and over 230 ferry and vessel services to islands off the province during eight-day Lunar New Year holiday, from the 29th day of the 12th month of the last lunar year to the sixth day of this lunar year.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20230126/intl-tourists-to-vietnams-phu-quoc-during-tet-surge/71124.html

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