Eight rice enterprises awarded for emissions reduction

Eight Vietnamese rice enterprises have been awarded 200,000 AUD (approximately 3.16 billion VND, or over 124,300 USD) for their efforts in reducing greenhouse gas emissions in rice production.

Eight Vietnamese rice enterprises have been awarded 200,000 AUD (approximately 3.16 billion VND, or over 124,300 USD) for their efforts in reducing greenhouse gas emissions in rice production.

More than 27,000 tonnes of carbon emissions were saved by the companies, during the recent summer-autumn rice season, as the result of a project that helps with the transformation of the rice value chain in the Mekong Delta – known as TRVC – supported by the Netherlands Development Organisation (SNV).

The Vietnam Rice Company (Vinarice), one of the participants in the project, saw its emissions fall by a total of 4,226 tonnes across 997 hectares, equivalent to an average reduction of 4.1 tonnes per hectare.

Vinarice CEO Tran Truong Tan Tai said: We will allocate the money from the award to farmers to improve their farming skills, provide support to female farmers, those with disabilities and offer additional subsidies to others.

The TRVC project has been implemented in An Giang, Kien Giang and Dong Thap provinces, the three largest rice-producing areas in Vietnam.

According to a report on the project’s initial results, released on December 30, 2024, the economic efficiency and average profits for farmers reached 64% in Dong Thap, 56% in An Giang and 54% in Kien Giang.

The results significantly contribute to efforts to transition to a low-emission rice production system and develop one million hectares of high-quality, low-emission rice cultivation by 2030, a project approved by the Prime Minister in 2023.

The TRVC project will run until 2027, aiming to support ten enterprises linked to around 200,000 smallholder farmers and 50-60 cooperatives in the three provinces to develop 200,000 hectares of low-emission rice./.

Economy

2025 - Year of acceleration, breakthroughs
Economy

2025 - Year of acceleration, breakthroughs

Prime Minister Pham Minh Chinh has instructed ministries, agencies, and local authorities to drastically and effectively implement three strategic breakthroughs, six key tasks, and 12 primary solutions, striving for double-digit growth in 2025, set to be the year of acceleration and breakthroughs, and laying the foundation for the 2026-2030 socio-economic development plan.

PVcomBank: Delivering outstanding customer experiences
Economy

PVcomBank: Delivering outstanding customer experiences

Founded in 2013, Vietnam Public Commercial Joint Stock Bank (PVcomBank) is the result of a merger between Petro Vietnam Finance Joint Stock Corporation (PVFC) and Western Commercial Joint Stock Bank (WesternBank). Over the years, PVcomBank has expanded to become the fifth-largest digital bank in Vietnam. Thanks to its commitment to deliver ‘Banking for Everyone’, it now serves over three million customers across various segments in Retail, SME, commercial and corporate.

Vietnamese Business Association in UK sets 2025 agenda
Economy

Vietnamese Business Association in UK sets 2025 agenda

The Vietnamese Business Association in the UK (VBUK) has announced plans to reshape the landscape of Vietnam-UK trade relations, focusing on driving business community forward, fostering its unity and strengthening connections with their Vietnamese partners both at home and abroad.

Bright prospects of Vietnam’s asset management industry
Economy

Bright prospects of Vietnam’s asset management industry

In the dynamic global economic landscape, the asset management sector is emerging as a standout field, with rapid growth fuelled by wealthy, middle-class and high-net-worth investors, transitioning towards professional asset management models and high-tech applications.

Vietnam PMI stands at 49.8 in December
Economy

Vietnam PMI stands at 49.8 in December

The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) dipped below the 50.0 no-change mark for the first time in three months during December 2024, to be at 49.8 from 50.8 in November.