Day: January 19, 2022

The goal for the digital economy to account for 20 percent of GDP by 2025 is very challenging.

However, Nguyen Trong Duong, Deputy Director of the Department of Enterprise Management under the Ministry of Information and Communications, believed that with a breakthrough scenario, the Vietnamese digital economy could account for 26.2 percent of GDP in 2025.

Under the normal development scenario, the Vietnamese digital economy will only reach 10.5 percent of GDP by 2025.

To achieve this goal, it was necessary to maintain the average annual growth of the digital economy at about 20 percent, three times higher than the expected GDP growth at 6.5-7 percent per year, he said.

Based on the analysis and assessment of digital economy development, three development scenarios could be proposed for the Vietnamese digital economy by 2025, said Duong.

In the normal scenario, with only average efforts for digital transformation and digital economy development, the digital economy will account for about 10.4 percent of GDP by 2025, of which ICT, telecommunications and the internet economy account for about 7.9 percent of GDP.

In the quicker scenario in which digital transformation and development of the digital economy are strongly promoted, the digital economy will account for about 19.9 percent of GDP by 2025, of which ICT, telecommunications and the internet economy account for about 13.1 percent.

In the breakthrough scenario, digital transformation and digital economy development are strongly deployed, accompanied by measures to ensure a market balance between Vietnamese digital enterprises and foreign counterparts. At the same time, with policies to support Vietnamese technology start-ups, the digital economy will account for about 26.2 percent of GDP by 2025, of which ICT, telecommunications and the internet economy account for about 16 percent.

Duong said that first, it was necessary to quickly develop and promulgate national strategies and programmes on developing the digital economy and digital society.

Second, it was necessary to urgently review, amend and supplement legal regulations to improve the legal framework, mechanisms and policies for the development of the digital economy and digital society.

Third, it is necessary to accelerate the implementation of the national digital transformation programme, especially solutions for skills training and digital human resources development; digital transformation; and the domestic digital market.

Source: Vietnam News Agency

HSBC Bank Vietnam has rolled out Vietnam’s first card made from recycled Polyvinyl chloride (rPVC) plastic as part of a programme launched by the HSBC Group to introduce sustainable cards across all its global locations.

The move underpins the bank’s strategy to reduce its carbon emissions and achieve net zero in its operations and supply chain by 2030 or sooner. Its ambition is eliminating single-use PVC plastic by the end of 2026, in favour of rPVC.

The rollout starts in January 2022 with its Premier MasterCard Credit, Premier Debit and Classic Debit cards. It will then extend across further card products from May 2022 tentatively.

The first rPVC cards will be issued to customers who requires new or replacement cards. To preserve the life of their existing cards for as long as possible, recycled plastic cards will be issued as their old cards naturally expire.

The new cards are made from 85 percent recycled plastics originating from industrial waste. HSBC’s move to rPVC cards is expected help reduce CO2 emissions by nearly half a tonne a year, and save 0.2 tonne of plastic per year.

Collectively, HSBC Vietnam together with other markets where the HSBC Group operates can help reduce CO2 emissions by 161 tonnes a year and reduce 73 tonnes of plastic waste per year globally.

The switch is a first step in a gradual transition to issue cards made from sustainable materials, and HSBC will continue to evaluate other alternative materials too.

“Replacing our cards will be another step as to help the bank and our customers make a positive impact on the environment,” said Pramoth Rajendran, Head of Wealth and Personal Banking at HSBC Vietnam. “There is no doubt that environment is of prime importance to Vietnam. The country is too familiar with the threats from climate change.”

“The move towards recycled cards enables HSBC and our customers to join hands together for a greener Vietnam, supporting the country’s climate action commitment at the COP26 which is reaching its net-zero carbon emission target by 2050,” he added.

Previously, to help retail customers reduce carbon emissions and contribute to shaping a zero-carbon future for the world, HSBC has enhanced and expanded its range of green loan products in Vietnam, offering preferential loans on green construction and rooftop solar energy, and more green lending to come in the near future.

Source: Vietnam News Agency

A delegation of the High Command of the Naval Region 2 on January 19 paid a visit to officers and soldiers on duty on DK1/10 Platform on Ca Mau Shoals in the southernmost province of Ca Mau, the last stop in the delegation’s trip to DK1 platforms on the occasion of the approaching lunar New Year (Tet) holiday.

During the journey from January 8-19, the delegation have visited several platforms, including DK1/15 on Phuc Nguyen Bank, DK1/11, DK1/12 and DK1/14 on Bai Tu Chinh (Vanguard Bank), and the on-duty vessel 637, to deliver Tet gifts from the mainland.

At the marine rigs, the delegation listened to the commanders of the DK1 rigs reporting on their combat readiness during the lunar New Year, as well as activities to take care of the material and spiritual lives of soldiers on the largest festival in a year of Vietnamese people.

Wishing officers and soldiers a happy new year, Colonel Dinh Van Thang, Deputy Commander of the Naval Region 2, lauded the achievements they have gained over the past time, especially their completion of the task of safeguarding the national sovereignty and waters.

Notably, in 2021, officers and soldiers of DK1 Platforms gave first aid and helped many fishermen in distress while fishing at sea, which helps strengthen people’s confidence in the Navy.

On this occasion, the delegation presented gifts of the Ministry of Defence, the High Command of the Naval Region 2, localities, businesses and individuals to officers and soldiers on the rigs.

The delegation is scheduled to pay a Tet visit to Con Dao island district in the southern province of Ba Ria-Vung Tau.

Source: Vietnam News Agency