Vietnam news in brief - June 20

Vietnam's CO2 emissions to peak by 2030: report 

An overview of the event. Photo: The Embassy of Denmark in Vietnam

Vietnam's CO2 emissions are expected to peak by 2030, underscoring the urgent need to accelerate the country's green energy transition, according to the Vietnam Energy Outlook Report-Pathways to Net Zero, released on June 19. The report finds that Vietnam's goal of achieving climate neutrality by 2050 is not only technically feasible, but also the most cost-effective path forward. With abundant solar, onshore and offshore wind resources, Vietnam is well-positioned to shift its energy mix from fossil fuels to renewables. The report outlines how the expansion of renewable energy, combined with the electrification of industry and transport, can enable Vietnam to secure a cost-effective green transition and achieve net-zero emissions by 2050, while reducing the country's dependence on energy imports.

Exports surge in the first half of 2024

Vietnam’s exports have experienced a strong recovery in the first half of the year, estimated at nearly US$189 billion, a 14% increase year-on-year, the Ministry of Industry and Trade reported. The increase in exports can be attributed to rising prices (particularly for agricultural and energy products) and increased transportation costs (due to the impact of political conflicts), as well as the appreciation of the US dollar.

Vingroup among the top 50 largest enterprises in Southeast Asia

Fortune magazine announced that Vingroup, Vietnam's conglomerate, ranked 45th among the 500 largest companies in Southeast Asia. Vietnam had 70 companies featured in the Southeast Asia Top 500 list. The ranking is based on total revenue and financial indicators of companies from seven countries in the region.

Air ticket bookings remain low amid summer peak season

The Civil Aviation Authority of Vietnam has reported that the average booking rate for domestic routes in the period from June 15 to July 15, 2024 is still at a relatively low level, although the current period marks the beginning of the 2024 summer peak season. Some routes from Hanoi/Ho Chi Minh City to popular tourist destinations such as Quy Nhon, Phu Quoc, and Nha Trang are only 70-80% full.

Vietnam participates in ASEAN-Japan Startup Business Matching Fair

Thirteen Vietnamese startups showcased various technology solutions in various industries and engaged in learning and collaboration with ASEAN and Japanese partners at the ASEAN-Japan Startup Business Matching Fair held in Bangkok, Thailand, on June 19. The event brought together over 60 innovative startups from Japan and five ASEAN member countries.

Nearly 70 labor model enterprises to be honored in 2024

Sixty-seven exemplary enterprises for workers will be honored at the recognition ceremony on June 25 at the Friendship Palace in Hanoi. These are organizations that have made continuous efforts to improve the working environment, take care of the interests, and enhance the material and spiritual lives of their workers.

National industrial production index up 7.1

Vietnam's industrial production continued to improve in the first half of this year, with the overall industrial production index (IIP) estimated to increase by 7.1% year-on-year. The industry has recovered thanks to the significant contribution of the processing and manufacturing industries, with a 6-month IIP increase of 7.8%; and the production and distribution of electricity, gas, hot water, steam, and air conditioning grew by 12.9%.