Day: March 1, 2024

The Arbitration – Mediation Symposium 2024:Mediation Symposium 2024, themed ‘Third parties and influences on arbitral proceedings’, will take place in Ho Chi Minh City from March 22 to April 11, according to the Vietnam International Arbitration Centre (VIAC).

The event, which will be held in a hybrid format, will include workshops on topics such as interim measures in arbitration and the impact of third parties; the execution of arbitration rulings and issues arising from third parties; mediation in arbitration proceedings; neutral third parties’ roles and their influence on resolving disputes; and a symposium on completing third party mechanisms for facilitating the arbitration proceedings.

Currently, the efficiency of resolving disputes by arbitration in particular and by alternative disputes resolutions (ADRs) in general has been recognised by the business community, according to the organisers.

Statistics from the VIAC showed that the number of cases resolved through arbitration and mediation signific
antly increased in 2023 but there was also a diversity of industries and parties’ nationalities.

In the context of increasing disputes and applying the Law on Commercial Arbitration 2010 (LCA) over the past 13 years, the matter related to disputing parties has been raised and discussed, aiming to enhancing and perfecting the legal framework on arbitration in Vietnam.

In reality, it can be seen that besides disputing parties (regulated in LCA), third parties have involved in many cases in different roles and they are able to make significant impacts on ensuring the fairness, transparency and effectiveness of arbitration and mediation methods.

The VIAC, in collaboration with law training institutions and other partners, decided to organise the symposium, aiming to discussing issues of third-parties in arbitral proceedings through analysing Vietnam’s legal framework and international practices, along with giving recommendations for mechanisms for third parties in the arbitration legal framework.

The Arbitrat
ion – Mediation Symposium (AMS) is an annual event which does not only provide participants with a helpful forum for in-depth discussions but also makes contributions to supporting the parties in resolving disputes effectively and improving the legal framework of ADRs in Vietnam./.

Source: Vietnam News Agency

Hanoi: Deputy Prime Minister Tran Luu Quang on February 29 signed a decision approving a project on developing multi-use values of the forest ecosystem to 2030, with a vision to 2050.

The project aims to improve the efficiency of management and sustainable use of forest resources; create jobs, increase incomes, stabilise and improve the material and spiritual lives of ethnic minorities, mountainous people, forestry workers and those living near forests, thus contributing to socio-economic development, conservation of natural resources and biodiversity, environmental protection, and climate change adaptation.

It is also expected to preserve and promote cultural and historical values, indigenous knowledge of local communities; and help ensure national security and defence.

One of its specific goals is to sustainably develop the supply of wood materials through organising intensive farming and expanding areas of big timber trees to ensure proactive supply of materials for the wood processing industry, strivin
g for the output of domestically exploited wood materials to meet at least 80% of the raw material demand for this industry by 2030 and 100% by 2050; and 100% of wood and wooden products having legal origins, thus meeting the requirements of the export markets and domestic consumption.

The value of processed non-wood forest products and medicinal herbs by 2030 will increase by 1.5 times compared to 2020 and double by 2050. The export value of non-timber forest products and medicinal herbs produced under forest canopy will account for 10-15% by 2030 and 25% by 2050 of the total value of forestry product exports.

The project also sets goals of developing forest environmental services on the basis of specifying and expanding service types; effectively managing and using resources from these services to ensure compliance with legal regulations; efficiently implementing forest carbon absorption and storage services; reducing greenhouse gas emissions from limiting deforestation and forest degradation, sustainable
forest management, and green growth; and striving to ensure stable growth of revenue from forest environmental services, at 5% a year.

Attention will be paid to developing sustainable community-based tourism, ecotourism, resort and entertainment activities, with the aim of increasing revenue from these activities by 50% by 2030 compared to 2020 and 100% by 2050./.

Source: Vietnam News Agency

Hanoi: Last year, northern localities enjoyed flourishing tourism while many destinations in this region won international awards and recognition, greatly contributing to Vietnam’s tourism development.

Vu The Binh, Chairman of the Vietnam Tourism Association, said northern provinces and cities have shown fruitful cooperation in creating many tourism products to attract more visitors and encourage holidaymakers to extend their stay, thus helping with tourism development nationwide, reported Dau tu (Vietnam Investment Review).

Tourism in the north has bounced back strongly since the COVID-19 pandemic was brought under control, especially in 2023.

Nguyen Manh Than, head of the group of northern localities’ tourism associations and Chairman of the Hanoi Tourism Association, said the Hanoi association worked with its peers to organise many programmes last year such as the one on tourism development cooperation between eight northeastern provinces and Ho Chi Minh City; a trip for the tourism associations of some
provinces, including Quang Ninh, Hai Phong, Hai Duong, Thai Binh, Nam Dinh, and Ninh Binh, to explore products in central Binh Dinh province; and a delegation of travel companies coming to Laos for tourism promotion activities.

He noted thanks to such programmes, many new tours and routes have taken shape, forming strong links among localities to attract more visitors to their destinations.

In 2023, Vietnam’ tourism revenue was estimated at 37.8 trillion VND (1.5 billion USD), surging 52.5% from the previous year, proving the effectiveness of travel stimulation policies of provinces and cities, including those in the north. Many in this region like Hanoi, Quang Ninh, and Ninh Binh were among the best performers nationwide in terms of the tourist number and revenue, according to the Vietnam National Authority of Tourism.

In addition, many international tourism titles came to northern localities last year. For example, Hanoi was named Asia’s Leading City Destination and Asia’s Leading City Break Destination
at the World Travel Awards 2023, Ha Giang province – Asia’s Leading Emerging Tourism Destination, Ha Nam province – Asia’s Leading Regional Cultural Destination, Moc Chau district (Son La province) – Asia’s Leading Regional Nature Destination, Cuc Phuong National Park – Asia’s Leading National Park, and Tam Dao township (Vinh Phuc province) – Asia’s Leading Town Destination.

International media have also honoured many destinations in the north such as Ha Long Bay as one of the idyllic seaside places across Asia to watch sunrise and sunset by Travel Leisure (the US), Hanoi as one of the most beautiful destinations in Southeast Asia by The Travel (Canada), and Ninh Binh as one of the best places to travel in 2023 by Forbes (the US).

Most recently, Ha Long Bay of Quang Ninh province and Sa Pa township of Lao Cai province were listed among the seven destinations honoured at the Traveler’s Choice Awards Best of the Best of Tripadvior.

To enrich tours and strongly help develop tourism in 2024, Binh suggested loc
alities in the north further capitalise on such new products as golf tourism, MICE (meetings, incentives, conferences, and exhibitions) tourism, cultural tourism, and ecological tourism.

As northern destinations are forecast to attract more domestic and international tourists who will stay longer and spend more there in the coming time, travel companies have been working to create new tours and products focusing on the region’s advantages, and diversify services to raise revenue.

Meanwhile, Than noted the Hanoi Tourism Association will coordinate with other localities to increase promotion and stimulation activities as part of Visit Vietnam Year 2024. The group of northern localities’ tourism associations will also strengthen partnerships with domestic and international airlines to introduce their products and services to passengers and organise tours more professionally./.

Source: Vietnam News Agency

HCM City: Over 5,000 people from all walks of life will join various activities during the 10th Ho Chi Minh City Ao Dai (long dress) Festival from March 7-17, the event’s organising board announced on March 1.

According to Nguyen Tran Phuong Tran, chairwoman of the Ho Chi Minh City Women’s Union, the festival will include a variety of unique activities such as an art programme themed ‘Ao Dai – Colours of Ho Chi Minh City’, an Ao Dai exhibition and interaction space, and an online Ao Dai competition.

This year’s event will feature more than 20 key opinion leaders in various fields like politics, economy, beauty queens, singers, actors, actresses, and travel bloggers as image ambassadors. Along with that, the festival will see the participation of 30 famous Ao Dai designers from many localities across the country, she noted.

Le Truong Hien Hoa, Deputy Director of the municipal Tourism Department, said that the festival will not only an unique cultural tourism product of the locality, but also a driving force
for socio-economic development.

During the 10-day event, the union will strengthen coordination with departments, branches, districts, and Thu Duc city to conduct a series of activities in many locations.

The festival is expected to spread the love for Ao Dai among both the locals and visitors, particularly civil servants, public employees, and female workers./.

Source: Vietnam News Agency

Hanoi: Vietnam welcomed more than 3 million foreign tourist arrivals in the first two months of 2024, up 68.7% year-on-year, and equivalent to 98.5% of the figure recorded before the COVID-19 outbreak, according to the General Statistics Office.

Localities across the country also served 14 million domestic visitors, of whom 4.9 million stayed overnight.

Total revenue from tourists in the period reached 136.1 trillion VND (5.5 billion USD).

The Vietnam National Authority of Tourism (VNAT) said that these figures showed positive recovery of Vietnamese tourism, and are a foundation for the sector to fulfill its target of 18 million foreign tourists this year.

In the period, all regions reported growth in the number of holiday-makers to Vietnam, such as Asia (77.8%), Europe (76%), Oceania (36.5%), and America (8.4%).

The Republic of Korea remained the biggest source of visitors to Vietnam, followed by China, Taiwan (China) and the US.

The potential Indian market continued to see optimistic signals with an i
ncrease of 34.7% over the same period in 2023, ranking 8th in the top 10 markets of Vietnamese tourism.

Notably, all European markets reported growth, especially markets enjoying the unilateral visa exemption policy such as the UK (32.6%), France (34.6%), Italy (82.3%), Spain (48.5%), and Russia (58.7%)./.

Source: Vietnam News Agency

HCM City: Ho Chi Minh City needs to adopt policies and channel financial resources to develop a carbon credit market in an effort to cut greenhouse gas emissions and respond to global warming, experts said.

Speaking at a seminar on February 29, Dr. Su Dinh Thanh, Director of the University of Economics HCM City, the event’s organiser, said it was vital for the city to establish a carbon credit market to shape standards and trends for other localities to promote the carbon market.

‘The establishment of a carbon credit market will create green financial resources for technological innovation enterprises in the city,’ Thanh said.

The city is preparing for a pilot phase of carbon trading, which is set to begin in 2025, with full operations expected to commence in 2028.

The carbon market is expected to attract investment in renewable energy, environmental technology, and international climate finance.

It will also promote a green economy and create new job opportunities while enhancing the city’s internationa
l reputation in climate change mitigation efforts.

Within Southeast Asia, only Indonesia has implemented a mandatory carbon market for the energy sector.

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As a dynamic and fast-growing city, HCM City is facing various environmental challenges, particularly air pollution, with annual carbon emissions exceeding 60 million tonnes, accounting for over 20% of the nation’s emissions.

Dr. Nguyen Thi Tuyet Nhung, a research group member on the carbon market at the University of Economics HCM City, said the city needed to exploit specific mechanisms and policies through the National Assembly to reduce greenhouse gas emissions and respond to climate change.

Resolution 98 allows the city to pilot a financial mechanism for measures to reduce greenhouse gas emissions via the use of the city’s budget for carbon credit exchange, according to Nhung.

These mechanisms enable the city to control environmental pollution, attract sustainable investments, generate revenue and funding for environmental projects
, and fulfil international commitments on emission reduction.

Moreover, voluntary development of the carbon market will help the city generate significant revenue through issuing and selling carbon credits and from emission reduction projects using abundant energy sources such as solar, wind, and waste.

Hoang Le Nam Hai, another research group member on the carbon market at the University of Economics HCM City, said the carbon market would create opportunities to attract investment in renewable energy, environmental technology, and international climate finance.

It would also promote a green economy and create new jobs while enhancing the city’s international reputation in climate change mitigation efforts.

HCM City has set a target of reducing emissions by 10 per cent by 2030 and moving towards a low-carbon economy, with the possibility of a 30% reduction.

Experts also recommended the city equip businesses and the community with knowledge while enhancing awareness of the carbon market.

It also needs to
implement policies to encourage and support businesses in voluntarily setting emission reduction targets, and engaging in carbon credit transactions to offset their emissions.

Vietnam plans to officially run a carbon trade exchange in 2028 under a project conducted by the Ministry of Natural Resources and Environment.

Under the scheme, Vietnam will pilot the operation of this carbon credit market in 2025 to connect and exchange carbon credits with regional and international markets.

From now until the end of 2027, the country will focus on developing regulations on carbon credit management and the exchange of greenhouse gas emission quotas and carbon credits.

The operation of the carbon trade exchange contributes to reducing greenhouse gas emissions under previous climate commitments, especially the goal of Vietnam to reduce net emissions to zero by 2050 under the COP26.

A carbon credit is a kind of permit that represents one tonne of carbon dioxide removed from the atmosphere.

They can be purchased by
an individual or, more commonly, a company to make up for carbon dioxide emissions that come from industrial production, delivery vehicles or travel./.

Source: Vietnam News Agency

Binh Phuoc: A ceremony to start the search for, collection and repatriation of remains of Vietnamese voluntary soldiers and experts who laid down their lives during wartime in Cambodia, in the 2023 – 2024 dry season (the second phase), was held at the Hoa Lu International Border Gate in the southern province of Binh Phuoc on March 1.

The event was organised by the provincial Steering Committee for search, collection and identification of fallen soldiers’ remains (Steering Committee 515).

Previously, during the first phase of the mission in the 2023 – 2024 dry season, Team K72 under the provincial Military Command collected and repatriated the remains of 43 volunteer soldiers and Vietnamese experts found in Kratie and Kampong Thom provinces of Cambodia. The remains were then reburied in Binh Phuoc’s martyrs’ cemetery on February 2.

In the second phase, the team will continue their mission in the mentioned-above localities.

Addressing the ceremony, Colonel Pham Nhu Quan – Political Commissar of the provinci
al Military Command and deputy head of the Standing Board of the provincial Steering Committee 515, reminded the searching team to maintain close coordination with the authorities, armed forces, and people of the host country to gather more information about fallen soldiers, and expediting the repatriation of their remains back to their homeland.

After more than two decades, Team K72 has so far collected and repatriated 2,853 sets of remains of Vietnamese voluntary soldiers and experts from Cambodia./.

Source: Vietnam News Agency

Hanoi: In a written response to a lawmaker’s inquiry on March 1, Prime Minister Pham Minh Chinh directed ministries, agencies, and localities to address challenges hindering the timely supply of materials, particularly sand, for infrastructure projects in the Mekong Delta.

Acknowledging the limitations of completely replacing natural sand with artificial alternatives, he highlighted the high costs associated with large-scale rock quarrying and establishing production lines to meet the demand.

Therefore, it is preferable to prioritise artificial sand as a substitute for natural sand in specific projects in certain items with relatively low consumption, such as asphalt concrete and cement concrete production, he said.

To address the immediate sand shortage in the Mekong Delta, the Ministry of Transport (MoT) has launched a pilot project using sea sand as a substitute for river sand on a small scale. In the coming time, it should be tested on a larger scale under stricter design standards and in different env
ironment conditions to fully evaluate the long-term viability of this approach, he added.

The PM also further highlighted efforts by the Ministry of Natural Resources and Environment to manage available resources and explore sustainable solutions.

Looking ahead to future infrastructure investments in the Mekong Delta, the PM instructed the MoT to conduct a comprehensive study on developing sustainable transportation solutions for the region. This study should also include proposals to secure reliable sources of filling materials for project implementation./.

Source: Vietnam News Agency