Latest news with #Chinh
Straits Times
04-06-2025
- Business
- Straits Times
Vietnam orders action to avert power crunch as heat lifts demand
Recent bouts of sweltering heat in northern and central areas of Vietnam increased peak power demand to almost 52 gigawatts on June 2. PHOTO: EPA-EFE HANOI – Vietnamese Prime Minister Pham Minh Chinh has ordered government agencies to ensure uninterrupted power supplies for households and businesses as heat waves boost electricity demand to a record. Recent bouts of sweltering heat in northern and central areas of the nation increased peak power demand to almost 52 gigawatts on June 2, an all-time high, according to a statement posted on the government website. The mean temperature in Vietnam topped 30 deg C on June 2, about 8 per cent above the 30-year average for this time of year, according to data compiled by Bloomberg. Mr Chinh asked the trade ministry and other agencies to prevent power shortages under 'any circumstances,' according to the statement. Among the measures, he instructed to accelerate start up of new power plants and grid connections, and ensure safe operation of the electricity system during the peak dry season. Rising temperatures in the country are part of a global trend, with other pockets of the planet also heating up. Signs are pointing to a red-hot summer across the North America, Europe, and Asia, threatening to tax power grids, wilt crops, and send energy prices spiking. Above-average temperatures are forecast across Japan through August, while weather models are predicting a warmer-than-average summer throughout mainland and maritime South-east Asia. Asia's developing nations have been hitting new power demand records every year, as rapid economic growth, coupled with expansion of air conditioning, boosts electricity requirements. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
02-06-2025
- Business
- The Star
Hanoi pushes private sector growth agenda
Acting boldly: Chinh speaking in Kuala Lumpur recently. The PM is calling for clearly defining the roles and responsibilities of the Vietnamese state, local authorities, businesses and citizens in implementing Resolution 168. — Bernama HANOI: Prime Minister (PM) Pham Minh Chinh on May 31 chaired a dialogue with enterprises and business associations to effectively implement a resolution on the private economy's development. PM Chính said that after the Politburo issued Resolution 68, the government submitted to the National Assembly a proposal to issue Resolution 198 on specific mechanisms and policies to promote private economic development. The government subsequently issued its own programme and action plan to implement the resolution. The PM emphasised that the resolutions are already comprehensive and well-coordinated. The most desired now is to organise implementation effectively, guided by the spirit of 'thinking deeply and acting boldly.' It also needs to find the most efficient approaches to unlock the potential of nearly one million enterprises and five million household businesses. He called for clearly defining the roles and responsibilities of the state, local authorities, businesses and citizens in implementing the resolution. PM Chính also urged unity and coordination with the spirit. 'When the party has provided direction, the government is committed, the National Assembly agrees, the people are supportive and the country is hopeful, we only discuss how to act, not whether to retreat.' At the dialogue, minister and Government Office chairman Tran Van Son announced the decision to establish the National Steering Committee for the implementation of the resolution. Enterprises and business associations expressed their commitment to operating in compliance with the law, fostering business ethics and a healthy business culture, eliminating opportunistic and illegal practices, renewing their business mindset and enhancing their capabilities. 'If everyone joins hands with the government in fully and faithfully implementing the policies that have been set out, I believe all enterprises will grow. That is also a global trend,' Mai Kieu Lien, CEO of Vinamilk, said. Delegates also hoped for continued support from the government to facilitate business and production development. 'The state should soon develop and issue a special mechanism for science and technology enterprises in the agricultural sector, including policies on land, credit, tax and training; and amend the Law on Crop Production to align it with other laws,' Tran Manh Bao from Thai Binh Seed Group said. He suggested establishing innovation support funds and developing a mechanism for cooperation and technology transfer between the public and private sectors. Nguyen Van Khoi, president of the Vietnam Real Estate Association, said the priority is to address institutional bottlenecks and guarantee rights that enable private economic development. — Viet Nam News/ANN
The Star
01-06-2025
- Business
- The Star
Vietnam celebrates groundbreaking of US$300mil tech hub in Hanoi
Vietnam PM Pham Minh Chinh (centre) and delegates at the groundbreaking ceremony -- Photo: VNA HANOI (Vietnam News/ANN): Prime Minister Pham Minh Chinh on June 1 attended the groundbreaking ceremony for the Hanoi CMC Creative Space (CCS Hanoi), a US$300 million technology complex hailed as a key part of Vietnam's push for innovation and digital transformation. The project, led by private firm CMC Technology & Solution, located on an 11,000 sq.m site in Hanoi, will feature 23 floors above ground and three basements, with a total floor space exceeding 90,000 sq.m. Following the success of CMC's first creative space in Ho Chi Minh City - CCS Tan Thuan, this second facility will serve as an open artificial intelligence centre, dubbed It aims to house a comprehensive tech ecosystem, including a state-of-the-art data centre, research and development labs, training facilities, and a startup incubation zone, employing over 5,000 engineers. At the heart of the complex is the CMC Data Centre, designed to deploy cutting-edge technologies in artificial intelligence, cloud computing, cybersecurity, big data, and next-generation networks. The ecosystem will also integrate 25 core technologies developed by CMC. In his address, PM Chinh praised the project as a testament to the private sector's role in advancing Vietnam's technological ambitions, aligning with the Party's policy of making breakthroughs in sci-tech, innovation, and digital transformation. With Vietnam targeting at least 8% economic growth in 2025 and double-digit expansion thereafter, he called for national unity to drive prosperity, safeguard its independence, sovereignty, and territorial integrity. He urged CMC to lead in sci-tech, innovation and digital transformation, inspiring other businesses, educational establishments, and research centres, particularly young people, to contribute to Vietnam's rapid and sustainable development. He expressed his hope that CMC would grow into a major multinational corporation integrated into global value chains while prioritising social welfare and equitable access to technology, especially for remote and vulnerable communities. The Government will always accompany companies, including CMC, and request ministries, agencies, and Hanoi authorities to further support them by promptly removing any obstacles to their growth, he concluded. - Vietnam News/ANN
Observer
31-05-2025
- Business
- Observer
Vietnam proposes boosting Oman Investment Fund to $1 billion
MUSCAT: Vietnamese Prime Minister Pham Minh Chinh has proposed raising the capital of the Vietnam – Oman Investment Fund (VOI) to $1 billion. The proposal was made during a high-level meeting in Hanoi with Shaikh Nasser bin Sulaiman al Harthy, Deputy President for Operations at Oman Investment Authority (OIA), and his accompanying delegation. Reported by the official information channel of the Government of Vietnam, the Prime Minister's remarks reflect Vietnam's intent to enhance its strategic engagement with Oman, a growing economic partner in the Gulf region. The meeting took place against the backdrop of strengthening relations between the two nations, with cooperation expanding across trade, investment, infrastructure, and energy. Highlighting Oman's growing relevance as a key Middle Eastern partner, Prime Minister Chinh commended the longstanding presence and strategic investment role of VOI in Vietnam. Established 17 years ago as a joint initiative between the State Capital Investment Corporation (SCIC) of Vietnam and the OIA, VOI has spearheaded a number of high-impact investments aligned with Vietnam's development goals. The Prime Minister emphasised that an expanded VOI—with a target scale of $1 billion—would allow for greater investment in critical sectors including infrastructure, renewable energy, clean water, healthcare, education, consumer finance, and high-tech agriculture. He noted that beyond economic returns, these investments also contribute to social development and the improvement of public services and livelihoods across Vietnam. 'This fund has proven its long-term vision and commitment to Vietnam's sustainable growth,' said Prime Minister Chinh. 'Now is the time to scale it up to match the size of our economy and development ambitions.' The meeting also touched on Vietnam's broader engagement with the Gulf Cooperation Council (GCC), with Prime Minister Chinh highlighting discussions held during the recent 2nd Asean-GCC Summit. He noted a shared interest in launching negotiations for a Vietnam-GCC free trade agreement and expanding cooperation in areas such as digital transformation, green economy, Halal food production, and investment protection frameworks. In response, Shaikh Nasser bin Sulaiman al Harthy welcomed the Prime Minister's proposal and reaffirmed Oman's interest in intensifying its economic partnership with Vietnam. He described the VOI as a platform for deeper strategic engagement and said Oman could serve as a regional gateway for Vietnamese products and services entering the Middle East. Al Harthy also announced the launch of a new $200 million 'Vietnam New Era Growth Fund' in partnership with SCIC. This fund will focus on emerging and high-potential sectors including telecommunications, finance, technology, Halal agriculture, and digital infrastructure. 'We value the Prime Minister's vision and support the idea of expanding the Vietnam – Oman Investment Fund,' said Al Harthy. 'We are ready to promote Vietnam as a key investment destination for Omani and Gulf investors, while also inviting Vietnamese businesses to use Oman's logistics and seaport networks to reach broader markets in the region.' The OIA delegation's visit is seen as a pivotal moment in advancing Vietnam-Oman relations. Both sides expressed confidence in the long-term trajectory of the partnership, agreeing that expanded joint funds could not only drive economic growth but also strengthen diplomatic ties and regional integration. If realised, the $1 billion VOI would mark a substantial increase from its current capital base and signal deeper strategic alignment between Hanoi and Muscat. It would also reflect Vietnam's growing profile as a destination for Gulf capital and a gateway to Asean markets. As both countries eye a future shaped by green development, high-tech industry, and regional connectivity, the Vietnam-Oman investment axis is poised to become a vital channel for sustainable growth and mutual prosperity.
The Sun
28-05-2025
- Business
- The Sun
Vietnam aims to boost education, tech ties with Malaysia
BANGI: Vietnam is ready to work more closely with Malaysia in the fields of education, science and technology, innovation, and digital transformation in an effort to drive sustainable development and shared prosperity across the ASEAN region. Vietnamese Prime Minister Pham Minh Chinh, in a public lecture at Universiti Kebangsaan Malaysia (UKM) here today, said both countries share a vision of leading Southeast Asia's transition toward a knowledge-based, innovation-led future. 'We are two dynamically developing economies in Southeast Asia, sharing a vision of sustainable development based on knowledge, technology, and innovation. 'Vietnam is ready to work more closely with Malaysia for our common goal of sustainable development and the shared prosperity of both nations and the ASEAN community,' he said. Chinh delivered the public lecture as part of his visit to Malaysia for the 46th ASEAN Summit, which concluded yesterday. UKM's Royal Fellow Tunku Zain Al-'Abidin Tuanku Muhriz, Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir and UKM Board of Directors chairman Prof Datuk Mohamad Abd Razak were also in attendance. Chinh emphasised that the people are strategic assets and that breakthroughs in science, technology and digital transformation are 'key drivers and decisive factors' for national development, especially among developing countries in ASEAN. In light of globalisation and the Fourth Industrial Revolution, Chinh stressed the urgent need for quality human capital development and the pivotal role of educational institutions. 'Now is the time for educational institutions to play a central role in preparing the workforce of the future, not just for one country, but for the entire region and the world,' he said. Chinh outlined five pillars for advancing university-level cooperation between Malaysia and Vietnam, including high-tech human resource training; joint scientific research; academic exchanges; regional accreditation standards ; and startup innovation ecosystems. 'When Vietnam and Malaysia invest in knowledge, when young people today share a common aspiration, we can build a Southeast Asia that is not only a centre of production, but also a centre of ideas; not just a place to apply technology, but also to create knowledge and future technologies,' he said. He also proposed enhancements to deepen science, technology, and digital cooperation between the two countries including joint research, infrastructure development, and digital governance. 'I believe that educational cooperation will not only produce learning hubs and knowledge transfer centres, but also serve as centres of innovation, scientific research, and technology transfer across nations, regions, and globally. 'Knowledge is power. When two countries share and connect knowledge, and invest in future generations, no limit is insurmountable, and new milestones can always be achieved,' he said. In the same lecture, Chinh urged the youth of ASEAN to adopt a mindset of resilience, innovation and accountability in navigating an increasingly complex world. 'Today's youth must not rest on their laurels but should adopt the mindset of turning nothing into something, difficulty into ease, impossibility into possibility, and the unimportant into the essential, that is what truly matters,' he said while underlining the values of discipline and responsibility as critical traits for future leaders. He said the youths are the architects of progress and as such must embody five traits, namely: active learning, innovation and entrepreneurship, institutional and policy engagement, international integration, as well as cultural preservation and peace-building.
