Malaysian economy predicted to become better in next months

– Malaysia's Department of Statistics (DOSM) has released a Malaysia Economic Statistics Review (MESR), which predicted that the country’s economy will become better despite negative impacts from restrictions due to COVID-19. Malaysian chief statistician Uzir Mahidi n said that business gained confidence towards the fourth quarter with the confidence indicator at minus 0.3 percent compared with minus 21.3 percent in the previous quarter.He held that this is a sign of recovery in the fourth quarter of 2021 and 2022 when the country’s GDP is projected to expand 3-4 percent thanks to high vaccination ratio, support policies and high demand.DOSM said that the Malaysian economy grew 3 percent in the first nine months of this year compared to minus 6.4 percent in the same period last year.Uzir said that downturn was seen in all economic sectors, adding that Malaysian tourism sector suffered a drop of 4.9 percent in the thrid quarter of 2021.However, the country’s trade rose 18.1 percent year on year thanks to domestic trade and high demands from the outside.At the same time, Uzir said that Malaysia’s consumer price index (CPI) rose 2.9 percent in October rose 2.9 percent over the same period last year. He attributed the increase to a double-digit rise in the price of transportation group.According to the DOSM, in the January-October period, the Southeast Asian country saw rise of 2.3 percent in CPI over the same period last year./.

November 30, 2021 10:45 UTC


Vietnam, Cambodia seek ways to foster cooperation in mass mobilisation

At the online talks (Photo: VNA)The Commissions for Mass Mobilisation of the Communist Party of Vietnam (CPV) Central Committee and the Cambodian People’s Party Central Committee sought cooperation orientations during their online talks on November 29.Head of the CPV Central Committee’s Commission for Mass Mobilisation Bui Thi Minh Hoai briefed the Cambodia n side on Vietnam’s situation and mass mobilsation work.She stressed the significance of enhancing the solidarity and cooperation between the two countries, Parties and commissions to stability and development in each country, as well as peace, stability, cooperation and development in the region.Men Xom On, head of the Cambodian commission, congratulated the Vietnamese Party, State and people on achievements they have recorded over the past time, and spoke highly of the thriving relations between the two countries.She informed Hoai about the political, socio-economic situation, external affairs, the COVID-19 combat and the mass mobilisation work in Cambodia.The two sides agreed to step up the communications work to encourage people, especially young generations, to further consolidate the bilateral ties.They will also increase delegation exchange and information sharing in mass mobilisation, while providing mutual support in regional and international issues of shared concern.They will pay more heed to mass mobilisation collaboration in localities that share the border line./.

November 29, 2021 18:09 UTC


France aids Vietnam with some 1.4 million doses of COVID-19 vaccine

Illustrative photo (Photo: AFP/VNA))Vietnam received about 1.4 million doses of the Pfizer COVID-19 vaccine aided by France on November 27 and 28, bringing the total doses offered by the European donor to more than 2 million.The freshly received vaccine, consisting of 400,000 doses via the bilateral diplomatic channel and nearly 1 million doses via the COVAX Facility, was the result of Vietnam’s vaccine diplomacy efforts and of Prime Minister Pham Minh Chinh’s official visit to France in November.The assistance of the French Government and people to Vietnam amid complicated developments of COVID-19 is of important significance. It is a vivid evidence for the strategic partnership between the two countries and affirms their mutual cooperation and support in pandemic prevention and control.Vietnam hopes France will continue its vaccine aid for and cooperate with Vietnam in the production and technological transfer of COVID-19 vaccines and treatment drugs, as well as assist Vietnam regarding related medical equipment and supplies. The sides should work together in putting forth creative collaboration measures and orientations for their early adaptation to post-pandemic conditions and gradual recovery of socio-economic activities.According the French Ministry for Europe and Foreign Affairs, the country has so far donated 67 million doses of vaccines to more than 45 countries through the COVAX Facility, becoming the second biggest donor after the US./.

November 28, 2021 20:15 UTC


Vietnam boats advantages in foreign investment attraction

Production activities at Fuhong Precision Component Company in Dinh Tram Industrial Park (Photo: VNA)Nguyen Bich Lam , former Director General of the General Statistics Office. This meant that foreign investors are placing great trust in Vietnam as part of the global supply chain.Also in the period, 7.09 billion USD were added to existing FDI projects in the nation, up 24.2 percent year-on-year, while foreign capital contribution and share purchase reached 3.63 billion USD.In the ten months, Vietnam reeled in 267.93 billion USD worth of export turnover, up 28.2 percent annually. Of the sum, the FDI sector contributed more than 196.7 billion USD, an annual increase of 20.3 percent. The foreign-invested sector’s import value, meanwhile, reached nearly 176.9 billion USD, up 31.3 percent over the same period last year and accounting for 65.7 percent of the country’s total.Regarding Vietnam's advantages in attracting foreign investment, Lam said the macro environment and politics are stable, the economy is dynamic, and the consumption market is expanding with abundant supply sources. He also listed consistent policies for foreign investment attraction and improving business climate.In addition, Vietnam is a member of many large-scale multilateral and bilateral trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP); Vietnam – EU Free Trade Agreement (EVFTA); and Vietnam’s several bilateral trade agreements with the US, the Republic of Korea, Japan, and the UK.Lam noted that in order to effectively attract and maintain foreign investment in Vietnam, the Government and relevant ministries, sectors, and localities need to implement a number of solutions.

November 28, 2021 15:00 UTC


Vietnam, Switzerland eye stronger educational cooperation

At the working session between Vietnamese Minister of Education and Training Nguyen Kim Son and Switzerland’s State Secretary for Education, Research and Innovation (SERI) Martina Hirayama on November 26. (Photo: VNA)Vietnamese Minister of Education and Training Nguyen Kim Son and Switzerland’s State Secretary for Education, Research and Innovation (SERI) Martina Hirayama on November 26 discussed measures to improve the efficiency of educational cooperation between the two countries.Their working session took place within the framework of President Nguyen Xuan Phuc’s official visit to Switzerland.Son suggested strengthening collaboration between Vietnamese and Swiss universities, covering training programmes in such areas as tourism, hotel, insurance, banking and high-tech, along with innovation.The two sides should step up the exchange of lecturers and students, and establish research groups that gather professors from Vietnamese and Swiss universities, he said.The minister said during a meeting with President Nguyen Xuan Phuc , Swiss President Guy Parmelin had suggested the five leading universities of Switzerland beef up cooperation with Vietnamese universities.For her part, Hirayama showed her support for the Vietnamese side’s proposals, saying the two countries’ state management agencies play a significant role in this regard.On this occasion, Son expressed his hope that Switzerland will provide more scholarships for Vietnamese students, helping the Southeast Asian nation improve the quality of human resources Son invited the Swiss official to visit Vietnam and and work with the Vietnamese Ministry of Education and Training.Hirayama accepted the invitation with pleasure, saying she hopes that the two sides will work together to promote the bilateral educational cooperation./.

November 27, 2021 18:23 UTC


Vietnam, Switzerland eye stronger science, innovation cooperation

Minister of Science and Technology Huynh Thanh Dat (R) meets Martina Hirayama, Head of the State Secretariat for Education, Research and Innovation. (Photo: VNA)- Minister of Science and Technology Huynh Thanh Dat, who has been accompanying President Nguyen Xuan Phuc on his official visit to Switzerland, on November 26 had a working session with Martina Hirayama, Head of the State Secretariat for Education, Research and Innovation (SERI) at the Swiss Federal Department of Economic Affairs, Education and Research.During their meeting, the two officials agreed that it is necessary to further strengthen cooperation in science, technology and innovation amongst science and technology communities and businesses of the two countries, saying that this will bring mutual benefits and promote sustainable development in both countries.Dat said he was impressed at Switzerland's achievements in growth and prosperity, saying that Vietnam always considers science - technology and innovation as a main motivation to realise its goal of becoming a modern industrial country by 2030, and a developed nation with high income by 2045.Vietnam has focused on strengthening the capacity of the national innovation system, developing innovative enterprises, encouraging large private corporations to invest in research and development, and attracting foreign enterprises to invest in technology transfer, he said.The minister suggested Hirayama support the upgrade of the 2019 letter of intent on innovation, science and technology between the two countries to a cooperation agreement between the two governments in the field.According to the minister, the two sides will co-organise a number of seminars on digital transformation, application of high technology in health, agriculture, climate change adaptation, and innovation management.Activities to promote investment and cooperation between high-tech zones of the two countries will be strengthened, Dat said, adding that Vietnam encourages Swiss businesses to invest and set up research and development centres in the Southeast Asian nation.Vietnam is willing to serve as a destination among nearly 20 places worldwide for Switzerland to set up its office of science and technology, the minister said.The Vietnamese ministry will create the most favorable conditions to promote bilateral cooperation in science, technology and innovation in the time to come, he affirmed./.

November 27, 2021 11:01 UTC


President co-chairs Vietnam - Switzerland Business Forum

- Vietnamese President Nguyen Xuan Phuc and his Swiss counterpart Guy Parmelin co-chaired a Vietnam - Switzerland Business Forum in Bern on November 26.Addressing the forum with the attendance of representatives from over 100 businesses of the two countries, the Vietnamese leader called on Swiss businesses to invest in Vietnam and partner with Vietnamese enterprises in areas where Swiss firms have strengths and Vietnam is giving priority to, especially in banking and finance, science and hi-technology, innovation and digital transformation.For his part, President Parmelin highlighted the huge potential for stronger cooperation between the two countries, and the necessity to have new cooperation framework s to encourage Swiss businesses to invest in Vietnam.The interest and commitment of businesses and representatives of the private sector of Switzerland at the forum showed that Vietnam is a priority for the European country in economic cooperation, he said, revealing that no less than 70 million CHF are expected to be invested in economic development projects in Vietnam in the 2021-2024 period.The COVID-19 crisis has demonstrated the need for a legal framework to promote close bilateral economic ties, he noted.The two countries signed an investment protection agreement, a double taxation avoidance agreement and an agreement on protection of intellectual property rights, President Parmelin said, adding that these are important legal foundations for Vietnamese and Swiss businesses to enhance partnership and to further bolster bilateral relations between the two economies.Regarding a free trade agreement (FTA) between Vietnam and the European Free Trade Association (EFTA), which has been negotiated by the two sides in the past nine years, President Parmelin expressed his hope that the countries will come up with solutions to accelerate the talks.Agreeing with his Swiss counterpart on the above-mentioned issues, President Phuc said that right after his talks with President Parmelin on November 26 morning, the Vietnamese Minister of Industry and Trade had a meeting with the Minister of State of Switzerland to promote the early conclusion of the negotiations and signing of the EFTA-Vietnam FTA for the benefit of both sides.He briefed Swiss investors on potential and investment opportunities in Vietnam, saying that Vietnam has changed from merely attracting foreign direct investment (FDI) capital to cooperating with foreign investors in the spirit of equality, mutual development and benefit, and responsibility to society and employees, and environmental protection.Vietnam selects and prioritises investment projects in the fields of high technology, innovation and research and development, he said, adding that Vietnam pledges to cooperate and create favourable conditions for its businesses to join value chains, promote digital economy and actively contribute to the country’s sustainable socio-economic development.The Vietnamese leader suggested the two countries promote extensive communications on each country's investment policies to their businesses, especially in finance and banking, science and high technology, innovation and digital transformation.Relevant agencies of the two countries should encourage trade and investment flows to each other, and increase the exchange of business delegations to learn about markets and opportunities for investment and business connections, he said.President Phuc called on Swiss businesses to support the Swiss Government to supply COVID-19 vaccines for Vietnam through the COVAX Facility, and supply medical equipment and transfer technology for COVID-19 treatment drugs research and production to the Southeast Asian nation.Vietnam will make efforts to create a business environment as committed in new-generation FTAs with high-quality and comprehensive standards, including maintaining socio-political and macroeconomic stability, removing bottlenecks of the economy in terms of legal institutions, infrastructure and human resources, developing supply chains, reducing logistics and administrative costs.Swiss businesses can enjoy other opportunities when they invest in Vietnam because the Southeast Asian nation has joined 15 trade agreements, including large-scale and high-standard deals such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Vietnam-EU FTA, he said./.

November 27, 2021 04:16 UTC


Denmark assists Vietnam to improve quality of official statistics

The signing ceremony of the project agreement in Hanoi on November 26. (Photo: General Statistics Office)At the signing ceremony. (Photo: VNA)– Denmark will support Vietnam with 6.5 million DKK (about 1 million USD) to carry out a project on improving the quality of official statistics The General Statistics Office (GSO) of Vietnam and Statistics Denmark signed the project agreement via videoconference on November 26.The 30-month project will focus on using administrative data for producing population, migration, and education statistics; and optimising chances for using big data to produce statistics and build the first economic - environmental accounting system for Vietnam.GSO General Director Nguyen Thi Huong pledged close cooperation with Vietnamese ministries, sectors, and Statistics Denmark to carry out the project successfully.Danish Ambassador to Vietnam Kim Højlund Christensen said Statistics Denmark will work closely with the GSO and relevant ministries and sectors in Vietnam to share knowledge and experience.Meanwhile, Director General of Statistics Denmark Birgitte Anker expressed her hope for effective cooperation with the GSO, and that this partnership will provide more information about the Vietnamese society, serving as a basis for making evidence-based decisions and monitoring international agenda like the Sustainable Development Goals (SDGs).Since 2015, the two countries have signed strategic sector cooperation programmes in the fields of health care, education, food safety, and recently statistics with a view to promoting sustainable and responsible growth, employment, and prosperity in Vietnam.Under those programmes, governmental agencies of Denmark have set up partnerships with Vietnamese ministries and sectors to share knowledge and experience related to priority issues and matching demand in Vietnam./.

November 26, 2021 16:57 UTC


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