John Kerry, honorary president of the Carnegie Endowment for International Peace, speaks at the workshop on green energy for sustainable economic development on January 11 (Photo: VNA)Hanoi (VNA) – An incomplete and asynchronousenergy market is a bottleneck in energy development in Vietnam at present,according to many participants at a workshop in Hanoi on January 11.The workshop on green energy for sustainableeconomic development was co-organised by the Party Central Committee’sCommission for Economic Affairs, the US Agency for International Development(USAID), and the Japanese and Australian embassies in Vietnam. It was part ofthe second Vietnam Economic Forum.In his speech, Chairman of the Commission forEconomic Affairs Nguyen Van Binh underscored that so far most energy demand ofVietnam is met by fossil fuel sources like coal, oil, and gas. However, thosesources are limited and their use pollutes the environment and raises greenhousegas emissions.Therefore, … [Read more...] about Incomplete energy market hinders energy development in Vietnam
Energy
Vietnam, US seek stronger cooperation in energy, defense
Vietnamese Ambassador to the US Pham Quang Vinh (L) and US Congressman Paul Gosar. Photo: vietnamplus Gosar is a representative of the Republican Party in Arizona State, President of the House of Representatives’ Subcommittee for Energy and Mineral Resources and a member of the House Committee on Oversight and Government Reform. Both Vinh and Gosar agreed that relations between the two countries as well as between Vietnamese localities and Arizona State have been developing strongly and there is still lot of potential for cooperation, especially in green and renewable energy. Gosar recalled his sound memories and profound impressions during his visit to Vietnam in late 2017. Vinh said that Vietnam hopes to welcome more US congressmen, thus contributing to the development of Vietnam-US ties. A day earlier, Vinh met with Assistant Secretary of Defense Randall Schriver. The two officials lauded the growing relationship between the two countries over the past year, especially the … [Read more...] about Vietnam, US seek stronger cooperation in energy, defense
VEF 2018: Green technology, energy, sustainable growth
In his address, Head of the Party Central Committee’s Economic Commission Nguyen Van Binh said research and use of green technology such as wind power, solar power, and bio-energy is an obvious trend: “The development of green energy has become more popular and has changed the energy package. Many countries are rapidly devising and implementing strategies and policies with long term visions on green growth and focus on human resources, science, technology, and finance aiming to develop a low-carbon, sustainable and environmentally friendly economy.”Delegates at the workshop discussed Vietnam’s energy landscape in the context of extensive international integration. A seminar on improving productivity in industrialization was also held as part of the event. … [Read more...] about VEF 2018: Green technology, energy, sustainable growth
Vietnam, US look to strengthen energy and defence cooperation
NDO – Vietnamese Ambassador to the US Pham Quang Vinh and US Congressman Paul Gosar, a Republican Party representative in Arizona State, have agreed that there is still huge potential for cooperation between the two countries, especially in green and renewable energy.At a meeting with the Vietnamese diplomat on January 10, Paul Gosar, Chairman of the House of Representatives’ Subcommittee on Energy and Mineral Resources and a member of the House Committee on Oversight and Government Reform, affirmed that Arizona is willing to boost its collaboration with Vietnamese localities in all spheres, including energy, in order to take advantage and supplement each other’s strengths in technology and resources.Gosar recalled his sound memories and profound impressions during his visit to Vietnam in late 2017.For his part, Ambassador Vinh said that Vietnam hopes to welcome more US congressmen to visit the country and see its strong and dynamic development, thus practically … [Read more...] about Vietnam, US look to strengthen energy and defence cooperation
Vietnam prioritises energy security: Party official
NDO/VNA – Vietnam always attaches importance to its energy security, considering it as a top priority in the country’s energy development policy and strategy, said Nguyen Van Binh, head of the Communist Party of Vietnam Central Committee’s Commission for Economic Affairs.At a reception for former US Secretary of State John Kerry in Hanoi on January 10, he said that Vietnam wants to promote renewable energy development for power generation, contributing to energy security, climate change mitigation, environmental protection and sustainable development.Stressing the importance of energy, the theme of the Vietnam Economic Forum 2017 held by the Commission for Economic Affairs, John Kerry recommended stronger collaboration between the two countries in the field, including the development of renewable and clean energies.He said he hopes that Vietnam will have policies to lure investors in the sector. He also affirmed to further the efforts to promote bilateral ties in any … [Read more...] about Vietnam prioritises energy security: Party official
Vietnam, US seek stronger cooperation in energy, defence
Vietnamese Ambassador to the US Pham Quang Vinh (L) and US Congressman Paul Gosar (Photo: VNA) Washington DC (VNA) – Vietnamese Ambassador to the US Pham Quang Vinh held a meeting on January 10 with US Congressman Paul Gosar who affirmed that Arizona State is willing to boost cooperation with Vietnamese localities in all fields, including energy, in order to take advantage and supplement each other’s strengths in technology and resources. Gosar is a representative of the Republican Party in Arizona State, President of the House of Representatives’ Subcommittee for Energy and Mineral Resources and a member of the House Committee on Oversight and Government Reform. Both Vinh and Gosar agreed that relations between the two countries as well as between Vietnamese localities and Arizona State have been developing strongly and there is still lot of potential for cooperation, especially in green and renewable energy. Gosar recalled his sound memories and … [Read more...] about Vietnam, US seek stronger cooperation in energy, defence
US official urges Vietnam’s efforts in clean energy production
US former Secretary of State John Kerry has said Vietnam is perfectly positioned to move to renewable energy during his visit to Hanoi on January 10.Talking with the media on Wednesday morning, John Kerry who is now president of the Carnegie Endowment for International Peace said that the world is now moving towards clean and sustainable energy, away from coal, and he urged Vietnam to follow."Vietnam has plans to use too much coal and is buying more coal from China," he said. "And China is not using coal, China is increasingly using solar. So China is dumping its coal in Vietnam. But I know Vietnamese people would like to have their own clean energy."Answering a reporter about the production prices of renewable energy, Kerry said that today with changing technologies, the production cost of solar and wind energy has been largely reduced by 75 % and 40%, respectively."So solar and wind energy are now completely competitive with coal," he said. "And it's twice the price if you look into … [Read more...] about US official urges Vietnam’s efforts in clean energy production
Vietnam priorities energy security: Party official
Stressing on the importance of energy, theme of the Vietnam Economic Forum 2017 held by the Commission for Economic Affairs, John Kerry recommended stronger collaboration between the two countries in the field, including the development of renewable and clean energies. He said he hopes that Vietnam will have policies to lure investors in the sector. He also affirmed to further efforts to promote the bilateral ties in any capacity.Binh said that as Vietnam is integrating intensively and extensively into the regional and global economies, the country always rolls out red carpet for foreign investors, particularly those from the US.He lauded contributions made by John Kerry to the Vietnam-US relations in trade, investment and other fields that bring practical benefits to both countries’ people. … [Read more...] about Vietnam priorities energy security: Party official
Clean energy remains a distant dream in Vietnam
Investors who once rushed to invest in Vietnam’s fledging clean energy industry are now backing off due to unprofitability, further hindering the country’s dream of getting greener. The low price of electricity produced by wind and solar farms, as well as the lack of any government subsidy or favorable loan package are the reasons cited by foreign investors for their withdrawal. As of August 2017, up to 19 gigawatts of solar energy is potentially available in Vietnam via small-scale projects, according to Sonia Lioret, principal technical advisor and project lead of a joint energy support program run by Vietnam’s Ministry of Industry and Trade in cooperation with the German Corporation for International Cooperation (GIZ). Additionally, over 100 large-scale projects are planned in the provinces of Dak Lak, Binh Thuan, Tay Ninh, Ninh Thuan, and Khanh Hoa, but only a handful have been officially approved for development. The reason, Lioret explained, is that … [Read more...] about Clean energy remains a distant dream in Vietnam
VN stocks advance on banks and energy firms
The benchmark VN Index on the HCM Stock Exchange edged up 0.33 per cent to close at 1,016.04 points after having scored a total growth of 2.9 per cent last week.The minor HNX Index on the Ha Noi Stock Exchange gained 0.90 per cent to end at 119.98 points. It increased by 1.8 per cent last week.More than 183.4 million shares were traded on the two local exchanges, worth VND4.23 trillion (US$188.3 million).The market trading condition was quite balanced, with 205 advancing stocks against 197 decliners.Bank and energy stocks continued to drive the market upwards on Monday morning, boosted by expectations for good 2017[AC1] earnings results.The banking sector index rose 2 per cent, while that of the energy sector added 0.8 per cent, data on vietstock.vn shows.Gainers among the 11 listed banks included Eximbank (EIB), Bank for Investment and Development of Viet Nam (BID), MBBank (MBB), Sacombank (STB) and Asia Commercial Bank (ACB).Meanwhile, PetroVietnam Gas (GAS), PetroVietnam Technical … [Read more...] about VN stocks advance on banks and energy firms