Hanoi: The development strategy of the coal industry to 2030 with a vision to 2045 has been approved by Deputy Prime Minister Tran Hong Ha in Decision No 55/QD-TTg, under which coal output is expected to be between 45 and 50 million tonnes by 2030, and between 38 and 40 million tonnes in 2031-2045.

Under the strategy, the industry will focus on exploration for upgrading existing coal resources along with new coal mines.

A goal set by the strategy is to start pilot exploitation in the Red River coal basin before 2040 so as to proceed with industrial-scale mining before 2050 if the trial is successful.

A coal market with many sellers and many buyers will be formed, while coal sources and suppliers will be diversified towards operating a fully competitive coal market after 2030.

The export and import of coal will be conducted in accordance with market demand and following the Government’s direction to meet domestic coal demand, especially for electricity generation.

Regarding solutions to realise the strate
gy, the decision states that the legal framework for the coal industry will be completed in line with the energy market’s development stages towards the efficient exploitation and use of coal resources as well as in conformity with actual conditions, international practices and the country’s development trends.

A favourable and transparent environment will be established towards removing all obstacles to ensure transparent coal prices as decided by the market, the decision said.

At the same time, state-run enterprises, particularly those operating inefficiently, in the coal industry will be restructured, while negotiations will be conducted for aid from international partners in the process of just energy transition in the industry, in line with the country’s energy transition trend towards net zero emission./.

Source: Vietnam News Agency

Davos: Prime Minister Pham Minh Chinh on January 17 afternoon (local time) received leaders of major international businesses to promote investment into Vietnam during his working trip to Davos, Switzerland to attend the 54th Annual Meeting of the WEF (WEF-54).

Receiving Marcus Bards, Chairman of the Board of Directors of staBOO Holdings AG Company – a subsidiary of BARD AG specialising in research, development, and production of high-end interior products, PM Chinh appreciated the cooperation between the company and its Vietnamese partners to build a factory to produce bamboo products. The cooperation helps enhance the value of bamboo and increase income for bamboo growers. Moreover, with modern technologies, the factory produces environmentally friendly products and export them to the world.

Chinh said that Vietnam is prioritising projects with advanced, new or clean technology, modern governance, high added value, and spillover effects that help connect Vietnam with global production and supply chains.

He asked staBOO Holdings AG to comply with environmental regulations, help with human resources training, and support Vietnamese businesses to participate in the company’s production and supply chains.

The PM affirmed that Vietnam will accompany the company in implementing the project, and facilitate its investment expansion to localities across the country.

Meanwhile, Marcus Bards said he and his colleagues appreciated the investment environment in Vietnam. He believed that Vietnam has great potential for developing the furniture industry, especially from bamboo. Therefore, the company wishes to make long-term investment in Vietnam, he said, adding that it will use modern technology, reduce carbon emissions, meet Vietnam’s green and sustainable development requirements, and make Vietnamese bamboo products go global.

On this occasion, the staBOO Holdings AG and Sao Thai Duong Investment Joint Stock Company exchanged a Memorandum of Understanding on investment cooperation in building a factory to produce pa
rticleboards and OSB plywood panels from bamboo in the central province of Thanh Hoa with a total investment of 3 trillion VND (122.25 million USD). The factory is expected to produce 225,000 cubic meters of products per year, consume 1,000-2,000 tonnes of bamboo daily, and create more than 3,000 jobs.

The same day, PM Chinh received leaders of Sweden’s Skandinaviska Enskilda Banken (SEB) Group, which operates in the field of finance and banking. Its SEB bank is the largest one in the Northern European region with total assets reaching nearly 339 billion USD.

During the reception, Marcus Wallenberg, Chairman of SEB Group, and his colleagues showed their admiration for Vietnam’s socio-economic development achievements over the past time and Vietnam’s role in the region and the world, especially its efforts in creating favourable conditions for investors.

The group wishes to invest and do business in Vietnam, he said, adding it plans to organise a Nordic business conference in Hanoi to continue to explore in
vestment cooperation opportunities in Vietnam, especially industrial development, digital transformation, and sustainable development.

PM Chinh said that the growing Vietnam – Sweden relations are an important favourable foundation for businesses from both sides to boost investment cooperation. He welcomed the group’s development plan in Vietnam in the coming time.

Regarding the Nordic business conference, Chinh suggested SEB coordinate with the Ministry of Planning and Investment to organise an investment promotion event on the occasion of the conference to further connect Vietnamese and Northern European businesses and localities, especially in the fields of green transformation, digital transformation, and circular economy development. The PM also asked businesses in the Nordic region to cooperate with the Vietnam National Innovation Centre in science and technology.

The PM called on SEB to participate in Vietnam’s financial market and study the possibility of investing in and restructuring weak banks i
n the country./.

Source: Vietnam News Agency

Davos: Prime Minister Pham Minh Chinh met with Swiss President Viola Amherd and Secretary-General of the United Nations Conference on Trade and Development (UNCTAD) Rebeca Grynspan in Davos, Switzerland, on January 17 (local time) on the sidelines of the 54th Annual Meeting of the World Economic Forum (WEF-54).

At the meeting with Swiss President Viola Amherd, PM Chinh thanked the Swiss Government for the warm welcome for him and congratulated Switzerland on the successful organisation of WEF-54, which was attended by nearly 3,000 leaders of governments and businesses globally.

Both sides expressed their delight at the strong developments in the friendship and cooperation between the two countries, especially in the fields of economy, trade, development assistance, culture, and education. They affirmed that regular contacts and exchanges between leaders and delegations of the two countries have contributed to strengthening their political trust.

The host said she appreciates Vietnam’s outstanding socio-eco
nomic development achievements in recent years, affirming that Vietnam is Switzerland’s leading important economic partner in Southeast Asia. She pledged to continue providing development aid to Vietnam, with more than 40 projects being implemented in various fields.

For his part, the Vietnamese PM affirmed that the achievements of the two countries’ cooperation over the past 50 years prove their effective cooperation, laying a foundation for the two sides to elevate their relationship in the coming time.

Chinh proposed that the two sides coordinate closely to prepare well for high-level visits between the two countries’ leaders, thereby reviewing and evaluating the cooperation results and proposing measures to advance collaboration.

He thanked the Swiss Government for providing Vietnam with official development assistance (ODA) which helped Vietnam gain many socio-economic achievements.

He said he hopes more Swiss businesses will come to Vietnam, and the two countries will enhance cooperation in science-
technology, and innovation as well as security and defence.

The two leaders also agreed to have a flexible approach in negotiating the free trade agreement between Vietnam and the European Free Trade Association (EFTA) and the bilateral Investment Protection Agreement to create favourable conditions and ensure the interests of businesses and investors of the two countries.

The two leaders affirmed that they will continue to coordinate closely at regional and international forums. Regarding the East Sea issue, they agreed on the importance of ensuring freedom of navigation and aviation in compliance with international law, and resolving disputes by peaceful means on the basis of international law, especially the 1982 United Nations Convention on the Law of the Sea (UNCLOS 1982), minimising the impact of geopolitical factors on supply chains and the movement of goods regionally and globally.

Meeting with the Vietnamese Prime Minister, Secretary-General of UNCTAD Rebeca Grynspan stressed that UNCTAD always co
nsiders Vietnam a model of development, trust, and optimism in the context of the current volatile world situation. Personally, as the former Vice President of Costa Rica, she always sees Vietnam as a model of development and wishes to visit Vietnam.

She shared that on the occasion of the 60th anniversary of UNCTAD this year, it will organise a global conference and hopes that Vietnam will send leaders to attend.

At the same time, she expressed her wish that Vietnam will participate and actively contribute to the UNCTAD Ministerial Conference in 2025.

PM Chinh affirmed that Vietnam highly values the organisation’s role in supporting developing countries, including Vietnam, in the building of development policies, contributing to maintaining a prosperous life for people.

He hoped that UNCTAD will continue to support Vietnam in all aspects of development, particularly human resources training./.

Source: Vietnam News Agency