India conglomerate pledges to invest 10 billion USD in Vietnam

Illustrative image (Photo: VNA)A joint venture between India ’s Adani Group and Vietnam’s Anh Phat Investment Construction & Trading JSC has been approved by authorities of Da Nang to start studying the development of a major seaport in the central city, according to Nhan dan (People) newspaper.Lien Chieu Port will be capable of handling 3.5 – 5 million tonnes of cargo annually in the first phase. It can accommodate vessels of up to 100,000 tonnes and container ships of up to 8,000 TEU.The new port will be of the world class and offer a new engine for the development of Da Nang and Vietnam at large. Insiders said the project can provide 5,000 jobs and contribute up to 80 million USD to the city's coffer, equivalent to around 2.1 percent of Da Nang’s Gross Regional Domestic Product (GRDP), by 2030.The approval was officially granted by the municipal People’s Committee to the joint venture in the presence of Prime Minister Pham Minh Chinh at the Da Nang Investment Forum 2022 on June 25.Also during the event, Adani Group, a multinational conglomerate owned by Indian billionaire Gautam Adani, pledged to invest 10 billion USD in several key sectors in Vietnam.The sum is part of the 100 billion USD worth of the group’s idle investment that it wishes to invest overseas by 2026.Gauta Adani, Chairman of Adani Group, has viewed Vietnam as an important partner in the group’s expansion overseas in the future. The Indian corporation has been looking for other projects abroad in infrastructure, port, logistics and green energy to invest in.Founded in 1988, the multi-sectoral conglomerate now expands to over 50 countries worldwide. By the end of April 2022, its market capitalisation has exceeded 206 billion USD.Its member company Adani Ports and SEZs operates 13 international ports and five logistics centres, capable of handling about 560 million tonnes of cargo per year./.

June 28, 2022 08:42 UTC


Vietnam’s exports to Hungary on the rise

Workers process pineapple for export at the factory of the An Giang Agriculture and Food Import - Export Company. (Photo: VNA)– Vietnam has recorded impressive growth in exports to Hungary in recent years, statistics showed.Exports from Vietnam to Hungary increased eight-fold to 1 billion USD in 2020 from 124.2 million USD in 2016. The figure stood at 842.7 million USD in the first 10 months of 2021, up 5% year on year, according to data from the European country.Though shipments of agricultural and food products remain modest, the revenue posted a strong increase in the recent past as seen in some key exports.Vietnam exported almost 4.4 million USD worth of processed coffee to Hungary in 2020, surging 38-fold from four years earlier, and 7.13 million USD during January - October of 2021, up 85.6% year on year.Cashew nut exports grew 27.7% to nearly 2.4 million USD in 2020 compared to 2016, and 11.6% year on year to 2.2 million USD in the first 10 months of last year.Rice shipments also increased 4.6-fold from 2016 to 198,000 USD in 2020 and 9-fold year on year to 700,000 USD in the 10-month period of 2021.Meanwhile, the Southeast Asian country exported 1.49 million USD worth of processed noodles in 2020 and another 1.4 million USD during January - October of 2021, respectively rising 119.1% from 2016 and 9% from the same period of 2020. Processed coffee , cashew nut, rice, and processed noodles of Vietnam are making up about 12.6 percent, 39.8 percent, 0.5 percent, and 20.5 percent of Hungary’s total imports of these commodities, respectively.Hungary mainly imports goods from other EU countries such as Germany, the Netherlands, Austria, Italy, Poland, Slovakia, Spain, and France. Despite strong competition from these rivals, some Vietnamese commodities like cashew nut, peppercorn and coffee will have their own advantages and are expected to maintain good exports growth in Hungary.Though Hungary is not a major market in the EU, its import demand has still been rising and stands at some 100 billion USD annually.Taking effect in August 2020, the EU - Vietnam Free Trade Agreement (EVFTA) is said to have opened even greater opportunities for Vietnamese firms to boost trade and investment ties with the bloc, including Hungary, in the time ahead./.

June 27, 2022 20:07 UTC


Automatic toll collection set for all expressways in Vietnam by end of July

An ETC station on the Hanoi-Hai Phong Expressway. (Photo: VNA)At a toll plaza (Photo: VNA)The Ministry of Transport has asked the Directorate for Roads of Vietnam ( DRVN ), the Vietnam Expressway Corporation (VEC), the Vietnam Infrastructure Development and Finance Investment Joint Stock Company (VIDIFI), and other service providers to realise the Prime Minister's request on completing automatic non-stop toll collection (ETC).The ministry requested VEC to direct service providers and related units to urgently install and operate the ETC system on highways by July 31.In case of delay, the ministry will handle it according to its competence or report it to authorities for strict handling in accordance with the law, including the suspension of toll collection.The ministry asked DRVN to direct and coordinate with VEC in deploying the ETC system on highways managed by VEC, ensuring the schedule and smooth operation.Meanwhile, VIDIFI was asked to continue piloting the ETC on the Hanoi-Hai Phong Expressway only.In particular, the service providers must pay attention to information dissemination about the ETC on the expressway and prepare plans for traffic regulations and remote warnings to limit vehicles that are not eligible to enter the expressway, causing traffic jams and poor safety.DRVN will support VIDIFI in successfully piloting the operation of ETC on the Hanoi-Hai Phong Expressway.Besides, the agency has to make monthly reports on the pilot ETC operation’s results and propose the time of ending the operation as well as amending, supplementing and completing mechanisms, policies, legal regulations and other related issues on ETC.Regarding the increase in the rate of using ETC payment tags (e-tags), the ministry requires ETC service providers to raise service quality to reach 80-90 per cent of the vehicles nationwide to use e-tags by September.VNDR will direct and support service providers in increasing carding and expanding services to achieve the target rate of vehicles affixed with e-tags, the ministry said.To install ETC stations on expressways, the ministry requested the DRVN to direct build-operation-transfer (BOT) investors managed by the ministry to coordinate and support localities in the installation before June 30.The toll collection will be suspended at stations behind schedule.According to the DRVN, by the end of May this year, the number of vehicles with e-tags was nearly 3 million, reaching more than 65%, an increase of more than 648,000 vehicles compared to before December 31, 2021.Currently, there are 48 ETC lanes belonging to stations managed by the Ministry of Transport (excluding the 12 lanes belonging to the Cau Gie-Ninh Binh Expressway managed by VEC) and 52 ETC lanes belonging to stations under local management that need to be installed.The DRVN will continue to mobilise and require vehicle owners to use e-tags and ETC service to reach at least 90% of vehicles affixed with e-tags to use the ETC service by September.The agency will also coordinate with the traffic police to strictly punish vehicle drivers who are not eligible to enter the ETC lanes causing traffic obstruction as per Government Decree No 123/2021./.

June 27, 2022 17:42 UTC


Singapore continues loosening COVID-19 restrictions against migrant workers

ASEAN Surge in COVID-19 cases unlikely in Malaysia: expert Malaysia is not likely to see an exponential spike in daily Covid-19 cases despite the possibility of facing a new wave of infection in the next few months, local media said, quoting the opinions of a virologist. World Cambodian media spread message on relations with Vietnam On the recent days, major press agencies of Cambodia have run a lot of articles spreading a message about the good neighbourliness, time-honoured friendship, comprehensive cooperation and long-term sustainability between the country and Vietnam, on the occasion of the 55th anniversary of the establishment of their diplomatic ties (June 24). ASEAN ASEAN, UK launch dialogue partnership The Association of Southeast Asian Nations (ASEAN) and the United Kingdom convened the inaugural ASEAN-UK Joint Cooperation Committee (AUKJCC) Meeting via videoconference on June 24, marking the start of a formal partnership to strengthen their long-standing ties. ASEAN ASEAN strengthens multi-sectoral approach to disaster management The ASEAN Committee on Disaster Management (ACDM) has held its 40th Meeting together with the 3rd ACDM Plus China, 3rd ACDM Plus Japan, 16th Governing Board of the AHA Centre and 1st ASEAN Disaster Resilience Platform (ADRP) meeting, aiming to enhance regional cooperation in disaster management and humanitarian assistance.

June 26, 2022 17:10 UTC


Vietnamese diplomat seeks stronger cooperation between Vietnam, Sakha Republic

Vietnamese Consul General to Vladivostok Nguyen Dang Hien meets Head of Sakha Republic Aisen Nikolaev. (Photo: VNA)Vietnamese Consul General to Vladivostok Nguyen Dang Hien made a working trip to the Republic of Sakha (Yakutia) from June 21-25 with the aim of promoting cooperation between Vietnam and this republic of Russia.At a meeting with the Head of Sakha Republic Aisen Nikolaev, Hien recalled the traditional friendship between Vietnam and Russia from the time of the Soviet Union.He informed the host of Vietnam’s economic recovery and development, particularly the encouraging economic indicators in the first five months of 2022.The diplomat stressed that Vietnam-Russia trade has seen remarkable growth, particularly after the Vietnam-EAEU free trade agreement took effect in October 2016, which is partly attributable to the Sakha republic’s contribution. However, Vietnam-Sakha cooperation in economy, trade, investment and tourism has not matched their respective potential, Hien said.The head of Sakha republic said he believes the visit of Consul General Hien will create a new impetus and open up new opportunities for the two sides.He said the republic plans to enhance partnership with Vietnam in the supply of minerals, specifically coal, and seek joint projects in industry, tourism and sports. He added that Yakutia enterprises will participate in an upcoming international trade expo in Vietnam.During the trip to Sakha, the Consul General also held talks with Minister of Foreign Relations and Ethnic Affairs Gavril Kirillinyi, Minister of Business, Trade and Tourism Timur Khandy, Mayor of Yakutsk Evgheni Grigoriev and the Director General. Agency for Investment Promotion and Export Support of Sakha Republic.The two sides discussed ways to increase cooperation between their localities and businesses, with a focus on Sakha republic’s strength in natural resources, and possibilities of partnership in tourism and the export of Vietnamese farm produce to Russia via the Far East.Hien also had a meeting with the Vietnamese community in Yakutsk./.

June 26, 2022 14:35 UTC


Deputy PMs agree on measures for strengthening Vietnam - Cambodia links

The meeting between Deputy PMs Le Minh Khai and Men Sam An in Hanoi on June 24 (Photo: VNA)– Deputy Prime Minister Le Minh Khai had a working session with his visiting Cambodian counterpart Men Sam An in Hanoi on June 24.Khai congratulated the Cambodian Government on the important achievements obtained under PM Hun Sen’s leadership, especially the success in COVID-19 containment and socio-economic reopening and recovery.Men Sam An, who is also Minister of the National Assembly - Senate Relations and Inspection of Cambodia, Vice President of the Cambodia n People’s Party, and Chairwoman of the Cambodia - Vietnam Friendship Association, expressed her honour to represent the Cambodian Government to attend and deliver remarks at the ceremony marking the 55th founding anniversary of the countries’ diplomatic ties held in Hanoi earlier the same day.Saying she is impressed with Vietnam’s all-round attainments over the past years, she expressed her belief that under the clear-sighted leadership of the Communist Party of Vietnam, the Vietnamese Government and people will continue reaping more successes in national reforms and development and unceasingly promoting Vietnam’s stature in the international arena.Both host and guest noted with satisfaction the development of the two countries’ friendly neighbourliness and comprehensive cooperation, especially the maintenance of high-level contact and the effective implementation of cooperation mechanisms. Bilateral trade has been on the rise, with Vietnam the largest ASEAN investors and one of the five biggest foreign direct investors in Cambodia. Partnerships in defence, security, education - training, and locality-to-locality ties, especially between border provinces, have continued to be promoted.The Deputy PMs shared the view that in the time ahead, it is necessary to jointly step up and successfully organise high-level visits and other important activities in the Vietnam - Cambodia Friendship Year 2022; boost economic connectivity; increase the frequency of direct flights; bring into play the countries’ border gate systems to facilitate bilateral trade and people-to-people exchange; enhance cooperation among localities, particularly border provinces; and keep working closely and supporting each other at international, regional, and sub-regional forums, especially this year – when Cambodia holds the ASEAN Chairmanship.Khai appreciated and voiced his hope that the Cambodian Government and Men Sam An in her positions will continue creating favourable conditions for Vietnamese businesses to operate in the country and helping Vietnamese-origin people raise their legal status, integrate well into local society, and contribute to the bilateral friendship./.

June 24, 2022 21:22 UTC


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