Vietnam-US Comprehensive Strategic Partnership heralds new waves of trade
- On the back of the newly-signed Comprehensive Strategic Partnership between Vietnam and the US, American exporters are setting their sights on delivering a wider range of agricultural products to Vietnamese consumers. Other products such as grapes and cherries were also gaining popularity among Vietnamese consumers.He expected that the upgraded relationship would facilitate the entry of more American fruits into Vietnam in the years to come. Vietnam ese consumers purchase sorghum mostly in the form of mixed ingredients. There is no data about sorghum import as a single ingredient, but what is known is that sorghum products were gaining favour in the country. "Sorghum is what Vietnamese consumers need for their healthy eating pattern," said Giang.Le Van Anh Tu, a representative of the US Meat Export Federation, said Vietnamese consumers had a great appetite for American tri-tip beef.
Source:Viet Nam News
September 29, 2023 10:32 UTC
ADB lowers growth forecast for Lao economy this year
A street in Vientiane capital of Laos. (Photo: AFP/VNA)– The Asian Development Bank ADB ) has revised down its growth forecast for the Lao economy in 2023 to 3.7%, from a 4.0% projection released in April.According to the Asian Development Outlook (ADO) September 2023, economic growth in Laos is forecast to be slower than expected due to weaker growth prospects in China, and macroeconomic pressures arising from unsustainable public debt and a weak Lao currency, the kip.The 2024 growth forecast was kept at 4.0%.Curbing inflation is among the main challenges to Laos . Though inflation decelerated in August to stand at 25.88%, down from 28.64% in June and 27.8% in July, the rate is still among the highest in the region. The Lao Statistics Bureau said the weak kip is one of the main drivers of inflation.Lao media cited ADB Country Director for Laos Sonomi Tanaka as saying that sound macro-economic management, including stronger coordination across fiscal and monetary policies, is urgently needed to address the country’s economic and financial challenges./.
Source:Viet Nam News
September 21, 2023 21:54 UTC
“Big Four” banks lower deposit interest rates to COVID-19 levels
Two more State-run commercial banks - Vietinbank and BIDV - lowered their deposit rates on September 19 to match the lowest level during the COVID-19 pandemic. Both cut their rates by 0.2 or 0.3 percentage point on deposits with a term of three months or longer. The rate for deposits with a 12-month term was also lowered by 0.3 percentage point to 5.5% per annum. For one-month and two-month deposits, the rate remains at 3%. These rates are similar to those of Vietcombank and Agribank, which were revised downwards on September 14./.
Source:Viet Nam News
September 21, 2023 19:16 UTC
Successful hosting of CEPPP affirms Vietnam’s responsibility in UN peacekeeping operations: Officer
Military medical workers practice resuscitating injured engineers while performing the task of clearing bombs, mines and explosives at refugee camps. (Photo: qdnd.vn)Sen. Lieut. Gen Phung Si Tan (first, left), Deputy Chief of the General Staff of the Vietnam People’s Army, chairs the programme. (Photo: VNA)– The hosting of the Competency Evaluation Programme for Prospective United Nations Peacekeepers (CEPPP), an activity under the ASEAN Defence Ministers’ Meeting Plus (ADMM-Plus) Experts’ Working Group on Peacekeeping Operations (PKO-EWG) Cycle 4, aimed to continue affirming the role and responsibility of Vietnam in preparing for and joining UN peacekeeping missions, according to Sen. Lieut. Vietnam’s efforts and performance in preparing for and organising the event have been hailed by the co-host Japan and the ADMM-Plus member countries, he added./.
Source:Viet Nam News
September 21, 2023 14:51 UTC
Vietnam supports UN’s central role: PM
Vietnam attaches importance to and supports the United Nations (UN)’s central role in the global administration system in order to cope with current big common challenges, Prime Minister Pham Minh Chinh affirmed while meeting with President of the 78th UN General Assembly (UNGA 78) Dennis Francis in New York on September 20 (local time).Vietnam commits to actively contributing to major priorities of UNGA 78, including the consolidation of peace through enhancing trust, fostering cooperation, easing tensions between powers, strengthening solidarity, promoting multilateralism, reforming international financial institutions towards more equality, and realising the sustainable development goals (SDGs), the PM stressed.He held that a global, all-people and comprehensive approach is needed to tackle such challenges, and affirmed that Vietnam supports and is resolved to implement the SDGs and respond to climate change, particularly achieving the target of net zero emissions by 2050. Prime Minister Pham Minh Chinh (L) and President of the 78th UN General Assembly ( UNGA 78 ) Dennis Francis. (Photo: VNA)Chinh briefed Francis on Vietnam’s National Power Development Plan VIII, which guides the development of power plants and power grids between 2021 and 2030, with a vision until 2050. The country will soon announce a resources mobilisation plan for the implementation of the Just Energy Transition Partnership (JETP), he added.The PM also highlighted Vietnam’s efforts in ensuring rice exports, contributing to guaranteeing global food security.For his part, Francis spoke highly of the UN-Vietnam relations, saying he is impressed by socio-economic achievements the Southeast Asian nation has recorded. He highly evaluated the country's active and dynamic role, and increasing position, including its participation in UN peacekeeping operations.Francis also commended Vietnam’s achievements in poverty reduction and national development, saying its experience in this field should be shared to the world, and spoke highly of the country’s cooperation in the SDGs implementation, climate change response and food security.The President of UNGA 78 agreed to cooperate with Vietnam to promote the compliance with the UN Charter and international law, and multilateralism.On this occasion, Chinh invited Francis to visit Vietnam in the coming time./.
Source:Viet Nam News
September 21, 2023 10:29 UTC
VIETNAM NEWS HEADLINES SEPTEMBER 21/2023
They also specifically discussed other topics such as wind energy, solar energy, women’s role in the energy sector, energy efficiency, and green transport. They also stressed the need to pay attention to gender equality and promote women’s role in the energy transition process. General Director of Hanoi Tourism Investment JSC Nhu Thi Ngan said that most of night activities in Hanoi are ended before 12:00am. Cuong, who is also Deputy Minister of National Defense of Vietnam, welcomed the Thai general’s visit which he said would help provide fresh impetus to defense cooperation between Vietnam and Thailand. The two sides will work closely together for the fifth Vietnam – Thailand defense policy dialogue to be held in Vietnam later this year.
Source:Viet Nam News
September 21, 2023 06:26 UTC
Hong Kong to help elevate Việt Nam's stock market potential
Considered as Asia’s financial hub, Hong Kong is a role model for Việt Nam to follow. This sets a very strong foundation for the local stock market to develop further. Hong Kong is located in Asia, but we are a global market, connecting global corporates with global capital on one hand. HKEX and the Hong Kong market are well positioned to connect global and China liquidity with Vietnamese opportunities. The recent arrangements allowing international companies primarily listed in Hong Kong to be admitted to Stock Connect southbound trading will certainly enhance the attractiveness of Hong Kong as a listing destination.
Source:Viet Nam News
September 21, 2023 02:34 UTC
Exhibition on innovative fabrics opens in HCM City
Visitors view clothes made from recycled fabrics at the Vietnam Texfuture 2023 Fall Winter being held at the Thisky Hall convention centre in Thu Duc city from September 20 to 23. (Photo: VNA)- Vietnam Texfuture 2023 Fall Winter, an international innovative fabric exhibition , opened in Ho Chi Minh City on September 20.It has the theme "Going recycling - Going circular,” and has attracted more than 15 brands and 200 Vietnamese and foreign exhibitors who are showcasing recycled, functional, natural, and synthetic fabrics, innovative technologies and solutions, textile accessories, eco-friendly fashion, and digital transformation solutions.The event also includes business matching activities, forums where industry experts will speak about new ideas to drive a more sustainable textile industry, and tours to leading garment and textile factories.Speaking at the opening ceremony, Tran Ngoc Liem, Director of the Vietnam Chamber of Commerce and Industry’s HCM City branch, said the garment and textile industry has faced difficulties this year, causing exports to fall by 14.4% in the first eight months to 22.5 billion USD.But there are clear signs of recovery with exports increasing steadily for the last four months, he said.“US President Joe Biden's visit to Vietnam this month and the elevation of bilateral relations to a comprehensive strategic partnership is conducive for the export of Vietnamese goods, especially garment and textiles,” he said.“But to make good use of these opportunities and gradually climb up the global supply chain, the textile and garment industry needs to improve labour productivity and product value, be more positive in sourcing raw materials and enhance cooperation with their counterparts, customers and markets.“Digitalisation and greening are inevitable trends in the textile industry by 2050, and businesses need to adopt more circular factors. If no changes are made, Vietnam's textile and garment industry might gradually lose its competitive advantage.”Organised by the VCCI, Sustainable Textile Solutions and Tengda Exhibition, the exhibition at the Thisky Hall convention centre in HCM City’s Thu Duc City will go on until September 22 and is expected to attract over 2,500 visitors./.
Source:Viet Nam News
September 20, 2023 19:28 UTC
Feasibility in disbursement must be studied carefully for future public-invested projects
HÀ NỘI — Feasibility in disbursement must be studied carefully before proposing and approving new public – investment projects, Deputy Prime Minister Trần Lưu Quang said during a meeting with the Working Group No 3 including 17 ministries and agencies on solutions to speed up disbursement of public investment in remaining months of this year. Quang said that many projects had been raised for allocation of public investment but failed to be implemented for many years. For future public projects, ministries and agencies must study their feasibility carefully, especially in site clearance and planning to prevent failure in disbursement, he said. 235/QĐ-TTg dated March 13, to speed up public investment disbursement in 2023. According to the ministry’s Department of Planning and Investment, transport projects such as Mai Sơn – National Highway No.
Source:Viet Nam News
September 20, 2023 16:55 UTC
Petrol prices forecast to rise nearly 4% in upcoming adjustment: VPI
Illustrative image (Photo: VNA)The artificial intelligence (AI) and machine learning (ML) algorithms of the Vietnam Petroleum Institute (VPI) under the Vietnam Oil and Gas Group (Petrovietnam) forecast that the retail prices of petrol will rise by nearly 4% in the upcoming adjustment on September 21.Accordingly, the price of E5 RON92 and RON95 will increase by 867 - 977 VND per litre to 24,337 VND and 25,847 VND per litre, respectively.Meanwhile, the retail price of oil is likely to increase by over 3%.The prices of diesel may rise by 750 VND to 23,800 VND per litre, while kerosene is predicted to increase by 779 VND to 23,959 VND per litre. The price of mazut oil is likely to go up by 503 VND to 18,202 VND per litre./.
Source:Viet Nam News
September 20, 2023 15:37 UTC
Vietnam – a rising star in the world: Malaysian newspaper
In the article, the author highlighted Vietnam's economic growth with consistent GDP growth of about 6% for many years, thanks to Renewal policy. It has helped to attract billion-dollar investments from Samsung, Nike, Adidas, and others. Besides, an abundant young workforce has helped power the country's labour-intensive manufacturing sector. Vietnam is now a rising star in the world with consistent GDP growth of about 6% for many years. In the past decade, the economy has created more and better jobs, which helped improve the aspirations and living standards of its people./.
Source:Viet Nam News
September 20, 2023 13:18 UTC
Thailand to tighten tax rules on overseas income
World Cambodia continues selling US dollars to stabilise exchange rates The National Bank of Cambodia (NBC) announced on September 19 that it will continue holding two auctions of US dollars (each worth 10 million USD) on September 20 and 22, to ensure exchange rate stability, maintain the purchasing power of the Cambodian riel, and support the economic recovery process following the COVID-19 pandemic. World Vietnam – a rising star in the world: Malaysian newspaper The New Straits Times - an English-language newspaper published in Malaysia on September 17 ran an article about Vietnam’s thriving growth during its national construction and development after wartime, in which the country is described as “a rising star in the world”. World Indonesia highlights importance of transportation in economic development Indonesian Minister of Transportation Budi Karya Sumadi has underlined the importance of providing prime transportation services to the people. World Air pollution shortens Thais' lifespan by 1.8 years: report More than 90% of the population in Thailand are living in poorer air conditions than the safety standard set out by the World Health Organisation (WHO) and this condition can shorten the average lifespan of Thais by 1.8 years, according to a report by Air Quality Life Index.
Source:Viet Nam News
September 20, 2023 12:08 UTC
HCM City looks for new technologies toward smart transport system
The smart transport management centre is connected with 875 traffic cameras and 216 traffic lights. (Photo: tuoitre.vn)VNAStudy of new technologies is underway in Ho Chi Minh City to complete its transport system, and ease traffic congestion that has plagued the southern hub for a long time.According to Director of HCM City Urban Transport Management Centre Do Van Tan, the city has 9 million vehicles on the road, including 7.8 million motorbikes and 865,000 cars.The increase in the number of personal vehicles has exerted enormous pressure on the city’s transport infrastructure, he said, highlighting that the transport sector is working to catch up with new technologies to improve the city’s smart transport system.The city put into operation its first smart transport management centre in 2019, which is connected with 875 traffic cameras and 216 traffic lights.The centre has helped local residents get updated with the traffic situation via website and mobile application, he said, adding information about vehicles with traffic violations is sent directly to competent forces to carry out off-site traffic penalties./.
Source:Viet Nam News
September 20, 2023 08:02 UTC
Việt Nam's 54 ethnic groups showcased on Google digital platform
HÀ NỘI - A collection of hundreds of high-quality photos depicting the culture and life of 54 ethnic minority groups across Việt Nam is being exhibited for the first time on the global digital platform, Google Arts & Culture. It also features interesting stories and unique artefacts that the author collected during his journey throughout Việt Nam, discovering the beauty of the country and its people. He transformed this dwelling into an art museum, dedicated to narrating the stories of Việt Nam's 54 ethnic groups. He also made a profound impression on the hearts of the Vietnamese art-loving community through portraits in Việt Nam, Cuba, and India. While transporting viewers to the remotest parts of Việt Nam, the collection reveals the rich cultural mosaic of the ethnic tribes.
Source:Viet Nam News
September 20, 2023 05:24 UTC
Temporary suspension of automatic order placement services a short-term solution
HÀ NỘI — The temporary suspension of automatic order placement services, or high-frequency trading (HFT), is necessary in the short term, given the recent technological infrastructure capacity of the stock market, but regulators need to allow the deployment of these services in the future. According to SSC's assessment, using robots to place automatic online trading orders with high frequency poses many potential risks and affects the stability of the stock market. “In Việt Nam, quantitative investment funds have not yet developed strongly, copy trading activities are only at a small-scale experimental level. However, the current technology infrastructure of the Vietnamese stock market cannot meet this need. Therefore, applying automatic order placement at this time can have a negative impact on the market, especially on small investors.
Source:Viet Nam News
September 19, 2023 19:52 UTC