Vietnam Accelerates Energy Saving Drive Amid Soaring Summer Power Demand

Vietnam is accelerating its energy-saving drive to cope with soaring power demand during the summer. Deputy Prime Minister emphasized that the transition must simultaneously meet three key requirements: ensuring sufficient energy for economic growth, reducing emissions in line with Vietnam's international commitments, and guaranteeing a just transition for workers, businesses, and localities. Participation in the Montreal Declaration also provides a foundation for Vietnam to explore deeper engagement with the IEA's multilateral energy efficiency initiatives, offering opportunities to access data, policy experience, technical tools, and public-private partnership models in energy conservation. Rooftop solar power is entering a new phase of development with a more solid foundation. When integrated with energy storage systems and direct power purchase mechanisms, it not only contributes to supplementing distributed energy sources and reducing pressure on the national power system but also serves as a driving force for green growth, enhances the competitiveness of the economy, and ensures energy security. Vietnam's agricultural exports reached $36 billion in the first half of 2026, up 6% year-on-year. While overall growth remained below the government's double-digit target, several products posted strong performance and are showing significant export potential. Vietnam and Argentina emerged as notable exceptions in the European Commission’s (EC) latest agri-food trade report. Imports from Argentina increased 10% thanks to higher sunflower seed shipments, while imports from Vietnam climbed 9%, driven by robust coffee exports. The Business Times of Singapore recently reported that Vietnam moving up the value chain is attracting high-quality investment from Asia in the first half of 2026 despite shifts in the composition of foreign direct investment (FDI). According to PwC’s Global M&A Industry Trends: 2026 Mid-Year Outlook, the total value of global M&A transactions this year could reach approximately $4 trillion USD, driven by large-scale deals and growing investment in AI-related infrastructure. By the end of July, agro-forestry-fishery exports were estimated at nearly $42.6 billion USD, up about 7% year-on-year and equal to 57.6% of the annual target. The performance reaffirmed the sector's role as one of the country's economic mainstays. With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is VND 26,605/USD, and the floor rate VND 24,071/USD. Household deposits at banks reached a new high of VND 10.8 quadrillion ($414 billion USD) at the end of May, up more than VND 108 trillion from April and increasing by 4.76% from the beginning of the year, equivalent to nearly VND 492 trillion. Instead of focusing mainly on protecting consumers as previously, the Law on E-commerce clearly defines the legal responsibilities of all participants in the digital marketplace, including e-commerce platforms, businesses, online sellers, key opinion leaders (KOLs), key opinion consumers (KOCs) and affiliate marketers. Copyright, VietnamPlus, Vietnam News Agency (VNA)