Exporters worried about rising transport fees caused by Red Sea turmoil
HÀ NỘI — Vietnamese exporters are worried about rising transportation fees as the tension in the Red Sea forces shipping lines to divert their routes to ensure safety. The transportation fees to Hamburg (Germany) are 3.5 times higher, from $1,200-1,300 to $4,350-4,450. “Rising transport fees cause difficulties to the export of seafood products to the US and the EU, which will affect the competitiveness and profit of exporters,” Hòe said. Rising transport fees add burdens on the costs of exporters, especially those of small scale who are already struggling to handle signed contracts. According to Shinhan Securities Việt Nam, Vietnamese firms exporting to Europe and North America’s East Coast are being affected by Red Sea route changes.
Source:Viet Nam News
January 17, 2024 07:42 UTC
PM delivers keynote speech at policy dialogue on Vietnam’s global vision
PM Pham Minh Chinh speaks at the policy dialogue (Photo: VNA)Davos (VNA) – Prime Minister Pham Minh Chinh attended and delivered a keynote speech at the policy dialogue on Vietnam’s global vision during the 54th annual meeting of the World Economic Forum (WEF) in Davos, Switzerland on January 16 (local time). It was one of the eight policy dialogues featuring heads of States and Governments organised by the WEF, reflecting the organisation’s positive evaluation of Vietnam's international role, position, achievements, vision and development prospects. He also highly praised Vietnam's role as one of the trailblazers in the development of a green and smart economy. In his coordinating role, he expressed a keen interest in understanding Vietnam's experiences, development directions and contributions to the global problem-solving process. He also underscored the role of international solidarity and multilateralism in addressing global challenges.
Source:Viet Nam News
January 17, 2024 06:39 UTC
VIETNAM NEWS HEADLINES JANUARY 17/2024
Eligible disciplines for this programme will include Engineering Education, Math Education, Physics Education, and Computer Science and Information Technology. The Vietnamese Ministry of Agriculture and Rural Development reports that around 200 bears are currently kept in captivity across the country. About 400 vocational education establishments are located in the Southeast region with an average annual vocational training scale of over 250,000 people. Currently, 376 vocational education establishments are set up in Ho Chi Minh City accounting for 12.51 percent of the country's vocational education establishments. At the same time, relevant agencies should build and improve mechanisms to encourage organizations and individuals to actively participate in vocational education as well as strengthen international cooperation for forecasting and shifting the labor structure and training structure of vocational education.
Source:Viet Nam News
January 17, 2024 04:06 UTC
Netherlands, Australia help transform rice value chains in Mekong Delta
CẦN THƠ — The Netherlands Development Organisation (SNV), in collaboration with related parties, on Tuesday organised a workshop announcing the project ‘Transforming Rice Value Chains for Climate Resilient and Sustainable Development in the Mekong Delta’ (TRVC). It will be implemented from the Summer-Autumn crop in 2024, with funding of A$16 million (US$10.5 million) from the Australian Embassy in Việt Nam. Using Pay-for-Results mechanism, it incentivises and attracts the participation of private enterprises in the rice value chain, aiming to develop innovative technologies to achieve higher economic outcomes for smallholder farmers and all rice value chain actors, improve rice quality, reduce greenhouse gas (GHG) emissions and promote inclusive social values. The Mekong Delta is a key rice production region in Việt Nam. However, rice cultivation in the region and in Việt Nam in general is currently one of the major sources of greenhouse emissions.
Source:Viet Nam News
January 16, 2024 21:57 UTC
Vietnam defence ministry presents command headquarter to Lao army
A view of the command headquarter of the Infantry Division 1 of the Lao People’s Army (Photo: VNA)Leaders of the Ministries of National Defence of Vietnam and Laos cut the ribbon to inaugurate the building (Photo: VNA)– The Vietnamese Ministry of Defence on January 16 handed over the newly-built command headquarter of the Infantry Division 1 of the Lao People’s Army (LPA) to the Lao side as a gift for the Lao defence ministry.The headquarter is built at a cost of around 2.6 million USD, with 2 million USD funded by the Vietnamese defence ministry and 1.2 billion LAK (nearly 60,000 USD) donated by Company 705 under the Vietnamese defence ministry.Addressing the hand-over ceremony, Lao Deputy Defence Minister Sen. Lt. Gen. Khamlien Outhakaysone hailed the significance of the gift, stressing that it is just one among many works that the Party, State and army of Vietnam have built for the Lao army over the past years.He said the gift provides more evidence of the great friendship between Laos and Vietnam in general and the two armies in particular./.
Source:Viet Nam News
January 16, 2024 15:57 UTC
2024 GDP growth might reach 6.48%, driven by innovation, reforms
HÀ NỘI — Việt Nam’s economic growth might reach 6.48 per cent in 2024, driven by innovation, economic restructuring and institutional reforms, according to a report published by the Central Institute for Economic Management (CIEM) at a conference on Monday. Specifically, CIEM raised two scenarios for GDP growth. To achieve the best GDP growth, CIEM said that Việt Nam must be more drastic with economic institutional reform to accelerate growth. “In the new development context, we believe that institutions are a resource, even the key to Việt Nam’s growth,” the report stressed. Despite the failure to meet 2023 GDP growth target, the Vietnamese economy saw positive improvement quarter-on-quarter, Dương said.
Source:Viet Nam News
January 16, 2024 14:07 UTC
PM lands in Switzerland, starting trip to attend WEF Annual Meeting 2024
ZURICH — Prime Minister Phạm Minh Chính, his spouse, and the high-ranking delegation of Việt Nam arrived in Zurich, Switzerland, on Tuesday morning (local time), starting a trip to attend the 54th Annual Meeting of the World Economic Forum (WEF) in Davos. Swiss experts are optimistic about the success of PM Chính's WEF trip, saying that it is an opportunity for Việt Nam to assert its contributions and role at multilateral forums. Talking to the Vietnam News Agency (VNA) in Bern, former Deputy Prime Minister of Germany and first Honorary Consul of Việt Nam in Switzerland Philipp Rösler said Việt Nam has made significant contributions to multilateral forums in recent years. He saw PM Chính leading a high-level delegation, including numerous business representatives, to the WEF annual meeting in Davos, as a significant milestone. He noted that over the 50 years since the establishment of formal relations, Việt Nam and Switzerland have collaborated on various joint development projects and shared similarities.
Source:Viet Nam News
January 16, 2024 11:21 UTC
VIETNAM NEWS HEADLINES JANUARY 16/2024
Lương Văn Ớt, current head of Na Ngân Village, notes that considerable progress has been made since then. The primary aspiration of the Na Ngân villagers is the expansion and improvement of the dirt road that connects the central area of Nga My Commune to Na Ngân Village. Woori Bank Vietnam will become the national League of Legends team’s special partner in both regional and international tournaments. General Director Park Jongil said Woori Bank Vietnam hoped to create a healthy entertainment culture for the local young generation. The Vietnam National Hospital of Pediatrics receives over 100 children being infectious with flu for examination and treatment every day.
Source:Viet Nam News
January 16, 2024 04:15 UTC
Cambodian people never forget the crucial support of Brother Việt Nam to stop genocidal regime
Lê Hương*Cambodian people will never forget the end of the Pol Pot regime 45 years ago and the whole-hearted support and sacrifices made by Vietnamese voluntary troops. Việt Nam listened and joined the fight for peace. “For the past 45 years, we have always used the word ‘Vietnamese voluntary soldiers’,” he said. After its formation, the first task of B68 was to understand that to help, Việt Nam needed Cambodian people. He said: “At this introduction, the Front appealed to Việt Nam.
Source:Viet Nam News
January 16, 2024 03:10 UTC
Vietnamese economy likely to expand by 6.5% in 2024: Economist
Illustrative image (Source: VNA)Coffee harvesting in Dak Lak province (Photo: VNA)- The Vietnamese economy is likely to expand by 6-6.5% in the base scenario, with even recovery recorded in all sectors of agriculture, industry, construction and services, Dr. Can Van Luc , a member of the National Financial-Monetary Policy Advisory Council, has predicted.The economist held that the country's economic recovery seen in late 2023 will motivate the economic recovery and development throughout 2024.This year, inflation will continue to be kept under control, at about 3.5-4%, he said, adding that the country's exports will bounce back, reaching a growth rate of 5% this year.In terms of investment, foreign direct investment is hoped to maintain the rising trend, while public investment disbursement is predicted to reach the similar level like 2023, Dr. Luc said.The economist asserted that private investment will be encouraged this year, with a rise of about 6%.Dr. Luc held that 2024 will be a tough year for the world economy with complicated geopolitical risks and lingering wars as well as various problems in security and energy security He recommended that this year, Vietnam should focus on analysing and forecasting the world situation to give suitable response measures.The country should continue completing institutions, by adopting the Land Law (revised), the Law on Credit Institutions (revised) and a number of other important laws related to tax and the management of State capital at enterprises. Along with the laws approved in 2023, this will be an important legal foundation for the land, real estate, financial, banking and labour markets to develop in a more stable and sustainable manner in the future.At the same time, it is necessary to issue legal frameworks for new economic and business models such as digital economy, green economy and circular economy as well as energy transition, he stressed.Dr. Luc underscored the need to continue maintaining underway monetary policies, while cautiously and flexibly loosening the policy to achieve the growth target, and strengthening policy coordination to better control interconnected risks among banking, securities, insurance, and real estate.Meanwhile, it is necessary to better promote traditional growth drivers such as export, investment and consumption, while drastically reforming the economy, especially the restructuring of businesses and credit institution with weak performance to ensure effective mobilisation and allocation of resources, the expert said./.
Source:Viet Nam News
January 15, 2024 16:48 UTC
Indonesia’s manufacturing industry likely to grow by 5.8% in 2024
Illustrative image (Photo: https://business-indonesia.org/)The performance of Indonesia's manufacturing industry is predicted to grow by 5.8% in 2024 amidst the challenge of global geoeconomic and geopolitical impacts , according to Minister of Industry Agus Gumiwang Kartasasmita.Agus said that the manufacturing industry is playing its role as the backbone of national economic growth, noting that the government has well managed macro management tools to help the sector maintain growth momentum in the future.The crucial role of the national manufacturing industry is reflected in its contribution, which is classified as the largest to national GDP, with an achievement of 16.83 percent in the third quarter of 2023, he said.In the same period, the manufacturing industry’s growth reached 5.02%, which may exceed the national economic growth, at 4.94 %, Agus added.The industry is also consistently the largest contributor to Indonesia's export value. In the January-November period, exports of manufactured products still dominated, with a value of more than 171.23 billion USD, the minister said.According to a report by safeglobal.com, Indonesia is among the top 10 manufacturing countries in 2023, accounting for 1.4% of the global manufacturing output. It is also the only ASEAN nation named in the list./.
Source:Viet Nam News
January 15, 2024 16:12 UTC
Italian firms seek partners to enhance partnership in Việt Nam's agricultural mechanisation
HÀ NỘI — Information related to research and survey in the field of agriculture, especially production, and trade of agricultural machinery, was shared and discussed at an online seminar on mechanisation in agricultural production in Việt nam, on January 15. The mechanisation level in Việt Nam's agriculture is relatively low compared to other countries in the region and the world, according to IAEPT Director Phạm Anh Tuấn. While the agricultural machinery market in Việt Nam has significant potential, it also faces challenges. Director of the Italian Trade Office in Việt Nam, Fabio De Cillis, highlighted that Italy is among the top 20 agricultural machinery suppliers in Việt Nam. Cillis also mentioned that smart agriculture development is a key aspect of restructuring the agricultural sector and combating climate change in Vietnam.
Source:Viet Nam News
January 15, 2024 16:06 UTC
Italian firms seek to boost partnership in agricultural mechanisation in Vietnam
Illustrative image (Photo: VNA)Information related to research and survey in the field of agriculture, especially production, and trade of agricultural machinery, was shared and discussed at an online seminar on mechanisation in agricultural production in Vietnam, on January 15.Jointly held in Hanoi by the Institute of Agricultural Engineering and Post-harvest Technology (IAEPT) under the Ministry of Agriculture and Rural Development and the Italian Embassy in Vietnam, the event aimed to help Italian mechanical businesses understand more about the Vietnamese market.According to IAEPT Director Pham Anh Tuan, the mechanisation level in Vietnam's agriculture still remains low compared to other countries in the region and the world.The forestry industry records the lowest level of synchronous mechanisation, only about 30%, he said, stressing that to increase added value of and sustainably develop the agriculture sector, synchronous mechanisation is needed.Research reports indicate that the agricultural machinery market in Vietnam has great potential but faces a number of challenges.Engine equipment in Vietnam still lags behind the average level in other ASEAN countries. Domestic manufacturers have a relatively low market share, and their machinery production capacity can only meet 32% of the market demand.According to Director of the Italian Trade Office in Vietnam Fabio De Cillis, Italy is among the top 20 agricultural machinery suppliers in the Southeast Asian nation.He said that there is ample room for foreign businesses to become partners of Vietnam in providing mechanisation and modernisation solutions, advanced technologies and efficient agricultural machinery, towards meeting growing demand and contributing to the development of the sector.Cillis suggested that smart agriculture development is one of the orientations in restructuring the agricultural sector and combating climate change in Vietnam, and this offers an opportunity for Italian businesses to contribute to developing smart farming methods and affordable solutions that are highly adapted to the demand of Vietnamese farmers.Tuan expressed his hope that Italian businesses will invest in support industry, thus helping Vietnam integrate, access technology faster, and increase the rate of mechanisation in agricultural proudction./.
Source:Viet Nam News
January 15, 2024 15:42 UTC
Vietnamese industries eye ambitious export goals in 2024
Strong political ties with countries such as China, the US, and the EU have also created momentum for establishing economic, trade, and investment partnerships. Import and export activities are forecast to become more active thanks to a less daunting global and domestic economic landscape. The above-mentioned are incentives for key industries in Việt Nam, such as textiles and fisheries, to set ambitious export goals for this year. “We will continue to find more material supply sources and expand export markets through enhanced marketing activities and connecting with direct customers,” Cẩm said. He said tax support policies are also a great way for textile businesses to increase production and have more resources to achieve green transformation and fulfil global market requirements.
Source:Viet Nam News
January 15, 2024 14:24 UTC
Petrovietnam sets ambitious goals for 2024
HÀ NỘI — In 2024, the National Oil and Gas Group (Petrovietnam) has raised its goals from 2023, setting higher targets to ensure continuous growth and sustainable development. The group aims to increase the total oil and gas reserves to 12-18 million tonnes of oil equivalent, exceeding the 2023 plan of 8-16 million tonnes. Other production goals include 1.74 million tonnes of fertiliser, 27.78 billion kWh of electricity, and 5.79 million tonnes of petroleum (excluding Nghi Sơn). The total revenue of the entire Petrovietnam Group is expected to reach VNĐ734.2 trillion (US$30.6 billion), exceeding the 2023 plan by VNĐ56.5 trillion. To achieve these goals, Petrovietnam identifies six core solution groups, including mechanisms and policies, enterprise management, finance, investment, market and technology, training, safety, environment and sustainable development.
Source:Viet Nam News
January 15, 2024 13:45 UTC