Establishing trust funds

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 … [Read more...] about Word Bank, Green Climate Fund provide Việt Nam with $86.3 million to spur energy efficiency investments

Small investors oppose expanding trading lot Ho Chi Minh City Stock Exchange (HOSE)’s proposal to raise the minimum trading lot to 1,000 shares is receiving mixed opinions from market experts and investors. The proposal was initiated by newly-appointed General Director of HOSE Le Hai Tra as a solution to reduce system overloads which have troubled traders recently. A 1,000 minimum trading lot will limit the participation of small investors, while the stock market is moving towards fairness and equality, said a budding investor. “My friends and I, when joining the stock market, only have a few tens to several hundreds of millions of dong, raising the minimum trading lot to 1,000 shares will directly affect our investment capacity,” said individual investor Diep. “With expensive stocks, we may have to spend hundreds of millions of dong to buy the minimum 1,000 shares,” she said. According to Diep, the stock market has never had such a chance for growth. New cash flow into … [Read more...] about VIETNAM BUSINESS NEWS MARCH 8

Vietnamese Prime Minister Nguyen Xuan Phuc said he supports the efforts of China and ASEAN in developing their foundation of connectivity in terms of mutual trust, physical connection, and human connection. The Vietnamese head of government made the statement at the 21st ASEAN-China Summit held in Singapore on Wednesday, as part of the 33rd ASEAN Summit framework. The event also celebrated 15 years of strategic partnership between the two sides. PM Phuc underlined ASEAN and China should increase dialogue efforts and collaboration, as well as build mutual trust and uphold international law, contributing to the formation of codes of conduct for an open, transparent, and rules-based regional structure, according to the Vietnam News Agency . The Vietnamese premier said the East Vietnam Sea issue remains complex, causing concern for all sides involved and possible negative impacts on regional stability. He underscored that ASEAN and China should continue upholding the principles … [Read more...] about Vietnam premier backs ASEAN-China cooperation

Vietnam begins COVID-19 vaccination on March 8 Vietnam launches its COVID-19 inoculation drive on March 8 morning, administering the AstraZeneca vaccine to medical workers in Hanoi, Ho Chi Minh City and northern Hai Duong province – the country’s biggest pandemic hotspot at present. The vaccination is conducted at the Central Hospital for Tropical Diseases in Hanoi, the HCM City Hospital for Tropical Diseases and two medical centres in Hai Duong. As many as 100 staff members of the Central Hospital for Tropical Diseases are expected to receive the shots in the morning of March 8. The hospital is allocated 450 doses among the first batch of 117,600 doses of AstraZeneca vaccine the country has received. In Hai Duong, 50 medical workers at Hai Duong city’s medical centre, and 30 others at Kim Thanh district’s medical centre will be the first in the province to be injected. The Ministry of Health has allocated the vaccine to 13 localities, along with the Ministry of National … [Read more...] about VIETNAM NEWS HEADLINES MARCH 8

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 … [Read more...] about Book on VN-Russia relationship launched in Moscow