Overcoming headwinds, Vietnam finds new opportunities: Insiders

Vietnam posts a GDP growth of 4.24% in the first nine months of 2023 (Photo: VNA)Participants at the seminar (Photo: VNA)– Despite headwinds, Vietnam has managed to show strong performance in the first nine months of this year, posting a gross domestic product ( GDP ) growth of 4.24%, said Deputy Minister of Planning and Investment Tran Quoc Phuong at a seminar in Hanoi on October 5.The official held that growth promotion, macro-economic stability, strong disbursement of public investment capital and achievements in external relations are among spotlights of the Vietnamese economy so far this year, which create a driving force for the economic growth for the whole year.Phan Duc Hieu, permanent member of the National Assembly (NA)’s Economic Committee, shared the view and highlighted the efforts made by the NA, Government, businesses and people.He said that the NA and Government have issued many policies to support businesses and people, including tax reduction, exemption, and extension of financial obligations, which is worth about 150 trillion VND (6.14 billion USD).Lauding Vietnam’s active policy response, Shantanu Chakraborty , Asian Development Bank (ADB)’s Country Director in Vietnam, said that the Vietnamese Government has moved in the right direction and in a timely manner.Dr. Vu Minh Khuong, a lecturer from Lee Kuan Yew School of Public Policy of Singapore said that the US President’s visit to Vietnam has also brought about new motivations for new sectors, including semiconductor production, which is a good opportunity for Vietnam.However, he noted that businesses are facing big problems, requiring transformation in production and business applications, such as green criteria in export products. Finding a new business model is also necessary, he stated.In report released in September, the ADB predicted that Vietnam will continue to take the lead in Southeast Asia with growth of 5.8% in 2023, lower than that of last year but still a good figure. Chakraborty held that the goal of 6% in growth rate set by the Vietnamese Government is reachable.Vietnam has shown a positive pace in investment and public spending, while the State Bank of Vietnam has well performed its role in controlling inflation, he said, underscoring that comparing to other regional countries, Vietnam has achieved encouraging achievements.

October 06, 2023 09:06 UTC


Forum boosts trade collaboration between Vietnam, Indonesia

Delegates attending the business forum (Photo: VNA)- A business forum on expanding trade cooperation between Indonesia and Vietnam, introducing the 38th Trade Exhibition Indonesia (TEI) 2023, and learning about the Halal market was held in Ho Chi Minh City on October 5.In his opening remarks, Ho Xuan Lam, Vice President and General Secretary of the HCM City Union of Friendship Organisations (HUFO), said that since Vietnam and Indonesia set up diplomatic ties in 1955, their relations have developed strongly in all fields, with two-way trade enjoying positive growth to hit 14.1 billion USD in 2022, a threefold increase compared to the figure 10 years ago.The forum was a chance for the two sides’ enterprises to meet and seek opportunities to boost trade cooperation and nurture close friendship between the Vietnam ese and Indonesian people.Cao Thi Phi Van, Deputy Director of the Ho Chi Minh City Investment and Trade Promotion Centre, said that Indonesia, which has the largest Muslim population in the world with more than 267 million people, has the biggest demand for Halal-certified products, which is a potential market for Vietnamese businesses.Export businesses should proactively learn about and apply for Halal certification to access this market, Van advised.Indonesian Consul General in HCM City Agustaviano Sofjan said that the forum provided detailed information about Halal products that have the potential to become an important economic growth driver for Indonesia with a contribution of about 5.1 billion USD per year.It also helped the city’s businesses better understand the concepts of Halal and the Halal market, therefore contributing to increasing opportunities for cooperation between firms of the two countries in the coming time./.

October 05, 2023 14:22 UTC


Vietnam supports int’l-law-complying measures against terrorism

The Sixth Committee of the 78th session of the UN General Assembly gathers on October 2 to discuss measures to eliminate international terrorism. (Photo: baoquocte.vn)Vietnamese Minister Counsellor Le Thi Minh Thoa at the debate (Photo: VNA)– Vietnam supports counter-terrorism measures that are in line with the principles of the United Nations Charter and the obligations under the international human rights and humanitarian laws, said Minister Counsellor Le Thi Minh Thoa Thoa, who is Deputy Permanent Representative of Vietnam to the UN, made the statement while addressing a debate on measures to eliminate international terrorism held by the Legal (Sixth) Committee of the 78th session of the UN General Assembly in New York on October 2.In her speech, she affirmed Vietnam’s consistent stance of resolutely condemning all acts of terrorism, irrespective of their forms and motivation.The country objects to the application of “double standards” in the fight against terrorism, she added.Talking about measures for effectively coping with terrorism, the diplomat emphasised the importance of resolving root causes of terrorism, reducing economic, social and political inequality, improving the resilience of communities, and promoting international cooperation at the national, regional and global levels with the engagement of the parties concerned.With regard to the terrorist attacks in Cu Kuin district in Vietnam's Central Highlands province of Dak Lak in June 2023, Thoa thanked partners for condemning the attacks. She also took this occasion to ask relevant countries and international organisations to continue assisting and cooperating closely with Vietnam during the investigation and judging of the culprits who are still hiding.At the meeting, representatives of most countries shared the view that terrorism remains a prominent threat to international peace and security, as well as the stable and sustainable development in many countries.They stressed the necessity to enhance international cooperation in fighting terrorism and promote the UN’s efforts in this issue, and that counter-terrorism measures need to comply with the principle of respecting national sovereignty, and not apply double standards or unilateral counter- terrorism sanctions.The Legal (Sixth) Committee, one of the six main committees of the UN General Assembly, gathers representatives of all the 193 UN member states and considers legal issues. At the 78th session of the UN General Assembly, the committee is set to discuss 27 items, including the one on measures to eliminate international terrorism./.

October 04, 2023 08:45 UTC


Vietnam urges comprehensive, breakthrough measures for sustainable development

Minister Counsellor and deputy head of the Permanent Delegation of Vietnam to the United Nations Nguyen Hoang Nguyen (Photo: VNA)– Minister Counsellor and deputy head of the Permanent Delegation of Vietnam to the United Nations Nguyen Hoang Nguyen has called for comprehensive and breakthrough measures to realign the 2030 United Nations Agenda for Sustainable Development back on track.Addressing the discussions of the Economic and Financial Committee of the 78th-tenure United Nations General Assembly that took place in New York on October 3-4, Nguyen said the global issues continue hurting the progress of achieving the UN Sustainable Development Goals (SDGs), with only 15% of the goals being in place according to their set timelines.The Vietnam's representative urged for stronger actions in three main aspects. In economy and finance, he said there is a need to accelerate the reform of the international financial structure and deploy the SDG Financing Package to pool resources in support of developing countries.On social issues, he suggested continued focus on poverty eradication by strengthening food security, investing in education and ensuring sustainable employment and social welfare for all citizens.Regarding environment concerns, he proposed a push for climate action and increased climate finance, supporting developing nations in transitioning to clean energy, realising the Loss and Damage Mechanism under the UN Framework Convention on Climate Change at the upcoming 28th UN Climate Change Conference (COP28), and expediting the fulfillment of biodiversity targets set out in the Kunming-Montreal Global Biodiversity Framework.As a member of the core group advocating for the Resolution on UN Decade of Sciences for Sustainable Development for 2023-2034, Vietnam called on developed countries to step up technology transfer, financial and technical support to enable developing nations to leverage the opportunities of the digital age.The diplomat affirmed that Vietnam always wishes to continue partnering with the international community to achieve the SDGs by 2030.Delegates at the event looked into difficulties and challenges facing the international community, stressing the need for collective efforts and coordinated actions to effectively roll out economic, financial and sustainable development measures./.

October 04, 2023 07:53 UTC


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