Vietnam and the European Union (EU) are key partners in green transition and sustainable development, said participants at a plenary session of the Green Economy Forum and Exhibition (GEFE 2024) jointly organised in Ho Chi Minh City on October 21 by the European Chamber of Commerce in Vietnam (EuroCham) and the Ministry of Industry and Trade.

Addressing the event, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son highly valued the organisation of GEFE 2024 in HCM City — one of the leading localities in the country in green transition, saying that the forum has become one of Vietnam's largest and most prestigious annual events, serving as a model for public-private cooperation in green growth.

According to Son, green economic development remains an inevitable trend, and an objective and strategic choice for nations. To build a green future, it is essential to adopt a green mindset and green vision, combined with green actions, where green technology, green energy, and a green lifestyle are crucial. Vietnam is committed to not sacrificing social progress, equality or the environment in pursuit of economic growth.

Vietnam hopes that the EU will promote sustainable trade and develop green supply chains through the effective implementation of the EU-Vietnam Free Trade Agreement (EVFTA), while soon ratifying the EU-Vietnam Investment Protection Agreement (EVIPA) to develop bilateral cooperation commensurate with the potential and aspirations of the two sides, Son said.

He proposed studying and implementing several projects to promote public-private partnership models and multi-stakeholder cooperation in green transition, saying that Vietnam hopes that the EU will continue to support the Southeast Asian country in areas such as finance, technology, and human resource training, and share experiences in developing the carbon credit market, establishing research centres in emerging fields such as green renewable energy, green infrastructure, digital transformation, smart agriculture, and low-emission industries.

The official also suggested the EU continue providing official development assistance (ODA) funding for Vietnam, focusing on urgent areas such as enhancing public governance capacity, green economy, digital economy, and circular economy.

Bruno Jaspaert, Chairman of EuroCham Vietnam, stated that the EU, as one of Vietnam's key trade and investment partners, has made certain achievements in green transition, but these efforts are not enough as Vietnam still boasts significant potential for growth.

Deputy Minister of Industry and Trade Phan Thi Thang stressed that the active cooperation between Vietnamese and EU business communities is a crucial foundation and driving force for promoting the recovery and development of a green and sustainable economy, aiming for the goal of net-zero emissions by 2050, as committed by both the EU and Vietnam at COP26.

GEFE 2024 offers a good chance for Vietnam and the EU to share mechanisms and policies in areas such as energy efficiency, sustainable finance, carbon emission reduction, circular economy, food, agriculture, tourism, digitisation and new technologies, as well as water security issues, helping the Vietnamese and EU business communities explore mechanisms, policies, laws, regulations, and standards aimed at achieving green and sustainable development goals in the near future.

Margaritis Schinas, Vice President of the European Commission, stated that the EU is currently a leading trade and investment partner of Vietnam and the two sides have made efforts to ensure stable and sustainable development, adding that with close and comprehensive cooperation, the Vietnam-EU partnership provides numerous opportunities for green transition.

Chairman of the HCM City People's Committee Phan Van Mai said the southern hub is strongly restructuring its economy, transitioning its industry towards green growth and sustainable development, with an immediate goal of reducing emissions by 10% by 2030.

GEFE 2024 is expected to provide the city with additional information, experience, and resource connections to promote green growth and sustainable development through sharing experiences in building high-productivity, circular economy models and effectively utilising resources and renewable energy, thus helping the city effectively implement its green growth action plan and realise its set socio-economic development goals in a green, sustainable, and inclusive manner, Mai said./.

Vietnamese enterprises attend MEGA Show Hong Kong 2024

About 30 Vietnamese handicraft and gift companies are promoting their products at the MEGA Show Hong Kong 2024 which is taking place in the special administrative region of China from October 20-23.

As a prestigious trade exhibition in Asia-Pacific for handicrafts, gifts, household appliances, and consumer goods, the annual MEGA Show Hong Kong gathers world-famous brands in the consumer goods industry.

Do Dinh Lang, Director of LV & Hon Ngoc Vien Dong Co., Ltd., said that the company has participated in Mega Show Hong Kong for years. The fair brings many business opportunities, he said, adding that his company has found regular customers there.

According to Lang, many major Vietnamese handicraft enterprises have participated in the fair. Currently, most of Vietnam's handicraft export turnover comes from the participating enterprises.

This year's event attracted 3,000 businesses from 28 countries and territories, including Vietnam, Thailand, the Philippines, Singapore, Malaysia, Indonesia, China, Hong Kong (China), Taiwan (China), Italy, the UK, Japan, Russia, and Australia. It is expected to welcome over 50,000 visitors.

According to the Ministry of Industry and Trade, Vietnamese handicraft products have been present in 163 countries and territories. The export turnover of Vietnamese handicraft products in 2023 reached about 3.5 billion USD. Vietnam is striving to rake in 4 billion USD from exporting handicraft products in 2025./.

Vietnam-France business exchange, trade promotion workshop held in Paris

A trade promotion and business exchange workshop between Vietnamese and French enterprises was held in Paris on October 21 as part of the Vietnamese Goods Week in France.

The event, co-organised by the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade, the Vietnam Trade Office in France, the Paris Chamber of Commerce and Industry (CCI Paris), and the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC), attracted more than 30 Vietnamese enterprises and many French partners.

Speaking at the workshop, ITPC Director Tran Phu Lu said that France is the first country in the European Union (EU) to have set up a Comprehensive Strategic Partnership with Vietnam. This is an important milestone for the two countries to review cooperation achievements, and build a roadmap for stronger cooperation and connection in the future.

He hoped that through the business connection, many French enterprises will know about quality products of Vietnam, thereby promoting two-way trade relations. In addition, open exchanges and better understanding of each other's needs and capabilities will help Vietnamese and French partners move towards establishing long-term and sustainable cooperative ties.

On this occasion, Bernard Quinet, Head of Business Connection Support Department of CCI Paris, introduced the market situation, needs and requirements of French businesses. He also offered suggestions to help Vietnamese businesses to effectively enter the French market.

France is currently Vietnam's fourth largest trading partner in Europe with bilateral trade turnover of 4.8 billion USD in 2023, 1.5 times higher than in 2013 - when Vietnam and France upgraded their relationship to a Strategic Partnership.

In the first eight months of 2024, the two-way trade value between Vietnam and France reached more than 3.4 billion USD, an increase of 6.9% over the same period in 2023, of which Vietnam's exports reached 2.23 billion USD and imports from France hit 1.18 billion USD.

Regarding investment activities, France now ranks third among European countries, and 16th out of 114 countries and territories investing in Vietnam. France's investment mainly focused on its strong fields such as telecommunications, renewable energy, environment, health care and pharmacy, manufacturing industry, food industry, and high-quality agriculture. These fields are suitable to Vietnam's orientations in foreign investment attraction and economic cooperation./.

Peru’s mega-port to open opportunities for Vietnam's import-export, logistics

The 3.5 billion USD mega-port of Chancay in Peru, set to be completed this year and expected to become a key logistics hub in Latin America, will open new opportunities for Vietnam's logistics industry by enhancing maritime transport connections and facilitating trade between the two regions.

According to experts, designed to handle 1.5 million TEUs annually, Chancay is poised to play a vital role in boosting economic and trade relations between the Southeast Asian nation and its Latin American peers. Forecasts suggest that trade between Vietnam and Latin America could grow by up to 10% on a yearly basis, provided that improvements in logistics and transport connections are made.

Leveraging the mega-port as an optimal logistics solution, Vietnam could significantly increase its import-export turnover with Latin American partners, especially in sectors such as industry, agricultural goods, and energy. As a result, Chancay is expected to become a crucial link for economic and trade relations between Vietnam and Peru in particular and Latin America in general. The former will be better positioned to capitalise on existing trade agreements with countries in the region, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnam-Chile and Vietnam-Cuba free trade agreements.

Vietnam's import-export turnover with Latin American countries reached 20.6 billion USD last year. Its major exports to the region include farm produce, garments-textiles, footwear, processed foods, wood products, electronics, and components. Meanwhile, Vietnam primarily imports raw materials, agricultural products, wood, garment accessories, and animal feed.

With new maritime routes connecting Chancay and Vietnam, Vietnamese businesses can optimise both time and transport costs. It is estimated that the port could reduce shipping times from the country to Latin America by up to 30%, or even 50%, which could help firms involved save up to 20% in logistics costs compared to traditional routes. This would enable Vietnam to export key products like textiles, electronics, and agricultural goods (such as rice and coffee) to and import minerals, agricultural products, and petroleum from Latin American countries at more competitive costs./.

Swedish exhibition promotes cooperation with Vietnam for green future

The Embassy and Trade Office of Sweden in Vietnam opened a green exhibition and launched the “Sweden - Vietnam Business Footprint” on October 21, affirming the European country’s commitment to promoting bilateral cooperation for a green future.

The exhibition forms part of the Green Economy Forum and Exhibition (GEFE) 2024 held in Ho Chi Minh City by the European Chamber of Commerce (EuroCham) in Vietnam and the Vietnamese Ministry of Industry and Trade.

Swedish Ambassador to Vietnam Johan Ndisi said the Swedish green exhibition celebrates the 55th anniversary of the bilateral diplomatic ties (1969 - 2024). It reflects not only the close-knit, and time-honoured partnership between the two countries but also the common values and aspirations that unite them.

Over the last 55 years, he noted, Sweden and Vietnam have nurtured a relationship based on mutual respect, cooperation, and friendship. They have worked with each other in various spheres, including trade, economy, development, education, and environmental sustainability.

Looking towards the future, Sweden pledges to further strengthen cooperation with Vietnam, particularly in such areas as economy, trade, innovation, and sustainable development to jointly resolve global challenges and work towards a more equitable and sustainable world, the diplomat added.

The Swedish exhibition is a cooperation platform for fostering a bilateral partnership to accelerate green transition in Vietnam, Ndisi noted, adding that by introducing its solutions, Sweden hopes to inspire closer collaboration between the two countries.

The exhibition sees the presence of some leading Swedish businesses in green technology introducing their products and providing updated information on solutions to meet Vietnam’s needs.

It also gives Vietnamese companies a chance to seek partnerships with Swedish firms in developing green economy, especially renewable energy, emissions reduction, and new technology./.

Hai Phong cements technology links with Canadian partners

A delegation of the administration of northern Hai Phong city has signed a letter of intent (LOI) with the Canadian - ASEAN Business Council (CABC) and visited dynaCert, a Canada-based company delivering carbon emission reduction technologies, in efforts to connect technology supply and demand and help local businesses expand markets.

The activities formed part of a recent working trip to the North American country by officials of the municipal People’s Committee.

Speaking to the Vietnam News Agency (VNA), Director of the Hai Phong Department of Science and Technology Tran Quang Tuan said the signing of the LOI aims to meet both sides’ demand, including export and import between Canada and Hai Phong - home to the largest seaport in northern Vietnam that directly connects with the Port of Montreal. Besides, their businesses will have more cooperation chances for investment, production expansion, and technology transfer and innovation.

Canada is focusing on green and circular technologies which match Hai Phong’s development goals, he noted, perceiving that the LOI will open up more opportunities for the city’s businesses to access investors and cutting-edge technologies, extend their reach to foreign markets, and step up technology supply and demand connection activities in Canada.

Bill Hawkins, Managing Principal of GrowthBridge, a company connecting global businesses, considered this as a great chance for linking the Canadian and Vietnamese economies through a city holding a strategic location like Hai Phong, which boasts seaports and industrial parks attractive to foreign direct investment.

About 57,000 businesses in Hai Phong are operating dynamically while the city is applying itself to developing high technology, seaport logistics, and tourism, which are also among the strengths of Canada.

During the visit, the delegation also had a meeting with dynaCert to learn about carbon emission reduction technologies for diesel vehicles and heavy equipment now used at Hai Phong Port.

Tuan said the city is now in need of carbon emission reduction technologies during its development process. Those technologies will be applied to diesel-powered transport vehicles and factories to cut emissions and create more values, helping boost transport and industrial sectors’ development in the future.

President and CEO of dynaCert Jim Payne told the VNA that his company possesses a technology that can make a big difference in the world because it is capable of changing everything at source, right in combustion. This technology not only halves the overall emissions but also slashes the amount of NO and NO2, the most hazardous exhaust gases released by diesel engines, by 88%.

Besides, dynaCert also has a technology for producing hydrogen units attached to diesel engines, helping reduce emissions considerably. If applied in Vietnam, this technology can assist with the country’s efforts to achieve net zero emissions by 2050, he added./.

Gazprom experts share experience at Vietsovpetro

A delegation of officials and experts from Gazprom visited Vietnam-Russia joint venture Vietsovpetro from September 26-27 as part of an annual cooperation training programme between the Russian gas giant and Vietnam Oil and Gas Group (Petrovietnam).

The two sides touched upon modern technology in the development and operation of offshore gas fields.

On September 26, the Gazprom experts visited a small air compression platform and compression platform MSP-4 of Vietsovpetro, where they learned about their operations and exchanged experience with engineers.

On the second day of the trip, the delegation had a working session with Vietsovpetro leaders who briefed them on the group’s establishment, development, and achievements over the past 43 years, as well as the friendship between Vietnam and Russia, particularly in the oil and gas field.

Gustov Dmitry Sergeevich from Gazprom appreciated the close ties between the oil and gas industries of Vietnam and Russia, and expressed his hope for stronger cooperation in the future, benefiting the two countries’ oil and gas and energy sectors.

The two sides discussed gas transportation technologies from offshore fields to the mainland as well as gas treatment solutions, with a focus on optimising operations and protecting the environment.

Following the meeting, the Russian delegation visited the Vietsovpetro's hall of tradition./.

Senegal considered as potential market for Vietnamese agricultural products

Senegal is considered as a potential market for Vietnamese agricultural products, according to the Ministry of Industry and Trade.

The West African country has the most stable politics in the region, and an open economy. It is home to the headquarters of the Central Bank of West African States, the Dakar international seaport and a railway system, which is transit point for goods in the sub-region.

Senegal is a member of both the West African Economic and Monetary Union (UEMOA) that consists of eight French-speaking countries and the Economic Community of West African States (ECOWAS) comprising 15 countries with an intra-bloc tariff rate of 0%.

Once penetrating this market, Vietnamese goods not only serve 18.6 million Senegalese consumers but also have the opportunity to access other countries in the blocs, especially Senegal’s neighbouring nations such as Mali, Guinea Bissau, the Republic of Guinea and Mauritania.

A decade after oil and gas were discovered off Senegal’s coast, production has begun at its first oil and gas project - a partnership between companies of Senegal and Australia.

According to the International Monetary Fund (IMF), Senegal’s gross domestic product (GDP) growth is expected to reach 6% in the fourth quarter of 2024.

Senegal often sees a deficit in trade ties with other nations. In 2023, the country's total export turnover reached 5.3 billion USD while its import value reached 11.87 billion USD. Senegal's main export items include petroleum products, non-monetary gold, phosphoric acid, titanium and phosphates. Its main customers include Mali, India, Switzerland and Australia.

Senegal's main import items are finished petroleum products, vehicles, machinery, base metals and rice. Its main suppliers include France, China, Russia, India and the United Arab Emirates.

Although Senegal has been implementing a self-sufficiency policy for food for many years, it has not been able to meet its domestic rice demand. It has to import 700,000 - 900,000 tonnes of rice each year.

In addition to rice, Senegal also imports textile products, confectionery, cereal products, motorcycle spare parts, iron and steel of all kinds, pepper, cassava products, rubber products, and agricultural machinery.

According to the General Department of Vietnam Customs, in 2023, Vietnam's export turnover to Senegal was 37.8 million USD, mainly agricultural products and food.

In the first nine months of 2024, Vietnam's export value to Senegal reached 26.5 million USD, with main products including pepper (9.5 million USD), vegetables and fruits (3.34 million USD), rice (1.24 million USD), confectionery and cereal products (1.6 million USD), aquatic products (851,074 USD), and other goods (9.95 million USD)./.

Vietnam promotes energy transition for sustainable development

A conference themed “Renewable energy and energy efficiency” was held in Ho Chi Minh City on October 21, within the framework of the Green Economy Forum and Exhibition 2024, jointly held by the European Chamber of Commerce (EuroCham) and the Ministry of Industry and Trade (MoIT)’s Vietnam Trade Promotion Agency (Vietrade).

It focused discussions on the potential for renewable energy development in Vietnam, as well as the mechanisms, policies, laws, regulations, and standards aimed at achieving sustainable energy transition in the coming time.

Tang The Hung, Deputy Director of the MoIT’s Electricity and Renewable Energy Authority, stated that energy transition is currently a trend over the globe, including in Vietnam.

To effectively implement the process, focus should be placed on two main tasks, namely transitioning the use of input energy by shifting from fossil fuels such as coal and oil to clean, emission-free energy sources like solar, wind, and nuclear energy; and perfecting policies and mechanisms, and implementing tasks and solutions to promote the reduction of greenhouse gas emissions, as well as closely monitoring sources of emissions.

In Vietnam, the Government's direction and efforts in implementing energy transition towards achieving net-zero emissions by 2050, as committed by the Prime Minister at the 26th United Nations Climate Conference (COP26), are clearly reflected in recently-issued policies, particularly in the national energy master plan and the eighth power development master plan, Hung added.

Stuart Livesey, Country Director of Copenhagen Offshore Partners (COP) in Vietnam, a unit developing numerous projects for the management, construction, and operation of offshore wind projects in the country, said that the demand for funding for renewable energy is increasingly significant.

Over the recent years, companies operating in Vietnam have made commitments to green economy and green energy, he said, adding that as Vietnam has set a goal of achieving net zero emissions by 2050, offshore wind energy is one of the important solutions.

Ananth Chikkatur, Chief-of-Party for the USAID Vietnam Low Emissions Energy Programme II (V-LEEP II), shared that the eighth power development master plan creates many opportunities to promote renewable energy, which can lead to significant transformations in renewable energy over the next few years, and ensure stability and certainty in energy for the long term.

Chikkatur showed his belief that beyond energy policies, there is a need for mechanisms to facilitate carbon credit trading./.

Vietnam-France business exchange, trade promotion workshop held in Paris

A trade promotion and business exchange workshop between Vietnamese and French enterprises was held in Paris on October 21 as part of the Vietnamese Goods Week in France.

The event, co-organised by the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade, the Vietnam Trade Office in France, the Paris Chamber of Commerce and Industry (CCI Paris), and the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC), attracted more than 30 Vietnamese enterprises and many French partners.

Speaking at the workshop, ITPC Director Tran Phu Lu said that France is the first country in the European Union (EU) to have set up a Comprehensive Strategic Partnership with Vietnam. This is an important milestone for the two countries to review cooperation achievements, and build a roadmap for stronger cooperation and connection in the future.

He hoped that through the business connection, many French enterprises will know about quality products of Vietnam, thereby promoting two-way trade relations. In addition, open exchanges and better understanding of each other's needs and capabilities will help Vietnamese and French partners move towards establishing long-term and sustainable cooperative ties.

On this occasion, Bernard Quinet, Head of Business Connection Support Department of CCI Paris, introduced the market situation, needs and requirements of French businesses. He also offered suggestions to help Vietnamese businesses to effectively enter the French market.

France is currently Vietnam's fourth largest trading partner in Europe with bilateral trade turnover of 4.8 billion USD in 2023, 1.5 times higher than in 2013 - when Vietnam and France upgraded their relationship to a Strategic Partnership.

In the first eight months of 2024, the two-way trade value between Vietnam and France reached more than 3.4 billion USD, an increase of 6.9% over the same period in 2023, of which Vietnam's exports reached 2.23 billion USD and imports from France hit 1.18 billion USD.

Regarding investment activities, France now ranks third among European countries, and 16th out of 114 countries and territories investing in Vietnam. France's investment mainly focused on its strong fields such as telecommunications, renewable energy, environment, health care and pharmacy, manufacturing industry, food industry, and high-quality agriculture. These fields are suitable to Vietnam's orientations in foreign investment attraction and economic cooperation./.

VNA/VOV/VNN/VNS