Ambitions_high

The Southeast Asian country holds tremendous potential to be a global trading hub. Vietnam is likely to earn US$618 billion in exports by 2030, with an annual growth rate of 7%, according to Standard Chartered. "Vietnam will be a key driver of this global trade growth, outpacing the global average of 5% by a significant two percentage points," said the research report titled "Future of Trade: New opportunities in high-growth corridors". Vietnam will be a key driver of this global trade growth. Photo: dinhvuport.com.vn The UK-based bank projects that global trade will reach $32.6 trillion with a growth rate of 5% by 2030. Trade corridors anchored in Asia, Africa, and the Middle East will outpace the global trade growth rate by up to four percentage points, driving combined trade volume to $14.4 trillion to account for 44% of international trade by 2030. Mainland China, South Korea, and the US are expected to be Vietnam’s key trade partners in the … [Read more...] about Vietnam’s exports to hit $618 billion by 2030

Contributions of foreign direct investment cannot be denied, illustration photo In recent years, there has been a viewpoint that foreign direct investment (FDI) is a foreign element rather than an organic part of Vietnam’s economy. It is also sometimes believed that the domestic economy is weak due to the low spillover effects of FDI without a clear recognition of the need to promote the development of the domestic economy. However, if we assume something that did not happen in reality – that Vietnam never did have access to FDI – then we would see a vastly different nation today. The increasing proportion of FDI indicates that the economic growth rate of this area is usually higher than that of the domestic economy. Without, it would take many more years for Vietnam to reach the GDP scale of 2022 with $409 billion and average GDP per capita of $4,110, and with the economic growth rate at over 7 per cent annually, as seen in 1991-1997 and 2002-2007. In 2022, the realised … [Read more...] about Contributions of foreign direct investment cannot be denied

Vietnamese Ambassador to the Netherlands Pham Viet Anh speaks at the event (Photo: VNA) Hanoi (VNA) – The Vietnamese Student Association in the Netherlands (VSNL) has recently held a career fair at the headquarters of the Vietnamese Embassy in the European country. Speakers, those who had graduated and are working in the Netherlands, shared their experience on career options and required procedures when applying for a job. Netherlands Pham Viet Anh highly appreciated the VSNL's initiative and efforts in connecting students and the Vietnamese community, creating opportunities for them to grasp information, knowledge and experience. The Ambassador also answered many questions raised by students as well as shared experience in learning and career orientation. While affirming the Embassy's support for students' activities, he wished the future generation of the country to study well to achieve high results, nurture their ambitions and succeed in their careers./ VNA … [Read more...] about Vietnamese students in Netherlands hold career fair

Both the governing side and the political opposition must do their best and, at most, prevent being seen in the eyes and minds of US voters. At the end of their common race against the time, US President Joe Biden and House Speaker Kevin McCarthy from the Republican Party finally, and still just in time, reached the final agreement on a deal to raise the nation's debt ceiling, thus, according to Joe Biden, preventing "the worst possible crisis, a default, for the first time in the US's history," because it takes "the threat of a catastrophic default off the table." Their deal now would be sent to be passed by the House. Biden and McCarthy in Washington on March 17. Photo: AP This news was both new and nothing new. Since 1917, when the US Congress enacted the original debt ceiling legislation, the federal government and the House have crashed 102 times on the issue of increasing limits on the national debt, among them 72 times only since 1960. But … [Read more...] about Avoiding catastrophe, awaiting anxieties

PM Nguyen Xuan Phuc said Vietnam will facilitate Russian-invested oil and gas projects. Vietnam’s Prime Minister Nguyen Xuan Phuc on December 24 held a phone talk with his Russian counterpart Dmitry Medvedev to keep a close watch of cooperation activities, according to the Vietnamese Ministry of Foreign Affairs (MOFA). Vietnam’s Prime Minister Nguyen Xuan Phuc holds talks with Russian counterpart Dmitry Medvedev on Dec 24. Photo: Baodansinh The talk, which is described as of “openness and trust”, focused on results of the implementation of agreements signed in PM Phuc’s Russia visit in May 2019, and measures to boost the efficiency of bilateral coordination in different fields. The two leaders hailed joint work to lift barriers for agro-aquatic and seafood products, helping to fully tap advantages of Vietnam – Eurasian Economic Union Free Trade Agreement (Vietnam-EAEU FTA) amid global economic uncertainties. PM Phuc emphasized that Vietnam always … [Read more...] about Vietnam PM holds phone talk with Russian counterpart, focusing on oil cooperation

In an interview granted to the Vietnam News Agency (VNA)'s resident correspondents in Sydney ahead of the Prime Minister's trip from June 3-4, Thanh said the visit takes place at a time when the two countries are celebrating the 50th founding anniversary of the bilateral diplomatic ties and the 5th anniversary of the strategic partnership. This is the second official visit to a Southeast Asian nation by Albanese since he took office, and the third to Vietnam by an Australian Prime Minister, the ambassador said, noting that the trip shows Prime Minister Albanese’s administration attaches importance to Vietnam. Thanh also recalled the visit to Vietnam by Australian Governor-General David Hurley in April, which was his only State-level visit to a Southeast Asian nation, and another trip to Vietnam by Minister for Trade and Tourism Don Farrell in the same month. In June 2022, Minister for Foreign Affairs Penny Wong selected Vietnam as the first ASEAN country to pay an official visit. … [Read more...] about Australian Prime Minister’s Vietnam visit to give impulse to bilateral ties: Ambassador

Indonesia sees 32 billion USD investment in EV battery chain (Photo source:auto.economictimes.indiatimes.com) Jakarta - Indonesia's Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan on May 30 revealed that the country can receive an estimated 31.9 billion USD in investments for project tied to battery supply chain by 2026. According to the minister, with the country rich in nickel used in batteries for electric vehicles (EV), the government wants to see more investment in nickel downstream sectors to boost economic growth. He said the Kalimantan region can receive 12.35 billion USD in investment while North Maluku and Sulawesi can attract 9.78 billion USD and 9.84 billion USD in battery supply chain projects, respectively. To encourage investment from emissions-conscious investors, the Indonesian government has touted the North Kalimantan industrial park on Borneo island as "green”, with a plan to power activities there with hydropower. … [Read more...] about Indonesia sees 32 billion USD investment in EV battery chain

FPT IS teamed up with SAP to introduce the brand-new ERP cloud solution at a seminar last week centred around growing a business with cloud-based solutions. The seminar attracted more than 100 senior leaders from enterprises in various fields such as manufacturing, trade and services, retail, technology, finance and banking, among others, indicating great interest from the market towards the solution. The seminar "Business growth with SAP S/4HANA Public Cloud" was jointly organised by FPT IS and SAP Speaking at the event, Phan Thanh Son, chief business development officer, FPT IS , noted that the uncertainty and constant fluctuations in the market require firms to equip a solid and flexible management system that can adapt to increasingly rapid and diverse systematic changes. In Son's words, “SAP's new ERP cloud solution delivers an open approach for enterprises of all sizes and from different industries to quickly adopt management processes compliant with … [Read more...] about FPT IS and SAP introduce new ERP cloud solution

Quang Binh Province, famous for cave tours, is offering a new travel experience that allows tourists to slide down a 600-metre-long line amidst a hidden valley inside Phong Nha-Ke Bang National Park. Quang Binh, home to UNESCO heritage site Phong Nha-Ke Bang National Park, is famous for its pristine caves and beautiful tourism sites. Along with famous places such as Thien Duong Cave, Chay River - Dark Cave, Nuoc Mooc Stream, Ngoc Bich Valley in Phong Nha-Ke Bang has become an emerging tourist destination. Ngoc Bich is located in Chay Lap Village, Phuc Trach commune, Bo Trach District. Covering 12 hectares, the valley is surrounded by high mountains, green jungle with Chay River flowing through, creating a beautiful natural landscape in the heart of Quang Binh. The most ideal time to visit Ngoc Bich Valley is in the summer. Due to its location right next to Dark Cave, the valley has a section of the Chay River flowing … [Read more...] about New Quang Binh adventure tour

Vietnamese Ambassador to Australia Nguyen Tat Thanh. (Photo: Vietnamese Embassy in Australia) Hanoi (VNA) – The upcoming visit to Vietnam by Australian Prime Minister Anthony Albanese will create momentum for bilateral cooperation in such potential areas as culture, investment, labour and people-to-people exchanges, Vietnamese Ambassador to Australia Nguyen Tat Thanh has said. In an interview granted to the Vietnam News Agency (VNA)'s resident correspondents in Sydney ahead of the PM’s trip from June 3-4, Thanh said the visit takes place at a time when the two countries are celebrating the 50th founding anniversary of the bilateral diplomatic ties and the 5th anniversary of the strategic partnership. This is the second official visit to a Southeast Asian nation by PM Albanese since he took office, and the third to Vietnam by an Australian PM, the ambassador said, noting that the trip shows PM Albanese’s administration attaches importance to Vietnam. Thanh also … [Read more...] about Australian PM’s Vietnam visit to give impulse to bilateral ties: Ambassador