Americas legal forays against foreign firms vex other countries

Workers at Eclat Vietnam Textile Co Ltd's facotry in Dong Nai Province. The country exported $29.9 billion worth of commodities in November, up 3.6 per cent month-on-month and 18.5 per cent year-on-year. — VNA/VNS Photo Cong Phong Viet Nam’s foreign trade surged 22.3 per cent year-on-year in the first 11 months of this year to exceed US$599.1 billion, according to the General Statistics Office (GSO). The figure reached $59.7 billion in November, up 8.5 per cent month-on-month and 19.7 per cent year-on-year, the GSO announced on November 29. The country exported $29.9 billion worth of commodities in November, up 3.6 per cent month-on-month and 18.5 per cent year-on-year. It raised the 11-month export turnover to close to $299.7 billion, up 17.5 per cent from a year earlier, with the foreign-invested sector (including crude oil) contributing 73.6 per cent of the total, or $220.68 billion, up 20 per cent year-on-year. Thirty-four commodity items earned export revenue of $1 …

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Vietnam’s foreign trade surged 22.3 per cent year-on-year in the first 11 months of this year to exceed US$599.1 billion, according to the General Statistics Office (GSO). Workers at Eclat Vietnam Textile Co Ltd's factory in Dong Nai Province. The country exported $29.9 billion worth of commodities in November, up 3.6 per cent month-on-month and 18.5 per cent year-on-year. — VNA/VNS Photo Cong Phong The figure reached $59.7 billion in November, up 8.5 per cent month-on-month and 19.7 per cent year-on-year, the GSO announced on November 29. The country exported $29.9 billion worth of commodities in November, up 3.6 per cent month-on-month and 18.5 per cent year-on-year. It raised the 11-month export turnover to close to $299.7 billion, up 17.5 per cent from a year earlier, with the foreign-invested sector (including crude oil) contributing 73.6 per cent of the total, or $220.68 billion, up 20 per cent year-on-year. Thirty-four commodity items earned export revenue of …

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Showing support for the ADB’s opinions raised at the forum, Chairman Hue paid special attention to the bank’s recommendations related to the size of a policy package aiding economic recovery. He agreed with the bank that international cooperation holds great importance to increasing resources for economic recovery. He said the lender has always been an important partner of Vietnam, noting that amid the COVID-19 pandemic that remains complicated around the globe and the coming into being of a new variant, the country will have to carry out an economic stimulus package that is big and long enough to maintain and boost driving forces for growth, overcome difficulties caused by the pandemic, and develop sustainably in the time ahead. The top legislator expressed his hope that the ADB will keep assisting Vietnam in the pandemic combat and economic recovery. He called on the bank to provide Vietnam with capital for investment projects and policy advice on sustainable development, as well …

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Speaking to a Vietnam News Agency correspondent in Moscow on the visit, Yatskin said that the Vietnam-Russia relationship is experiencing a period of strong growth and need to be further reinforced. He noted that the two countries share a special relationship not only in terms of politics but also in the sentiment of people of both sides towards each other, and the elevation of bilateral ties to a comprehensive strategic partnership in 2012 reflected their sound relationship. Yatskin noted that the economic partnership between Vietnam and Russia is expanding impressively, with two-way trade reaching 5.7 billion USD in 2020, up 15 percent year on year despite COVID-19 impacts. This year, the figure is expected to hit 6.5 billion USD. He attributed the results to the efficiency of the free trade agreement between Vietnam and the Eurasian Economic Community (EAEC) that was signed in 2015. At the same time, the two countries have enjoyed sound cooperation in science, with Russian …

[Read more...] about Vietnamese President’s Russian visit impressive: Russian legislator

The article by Grigory Lokshin, an expert from the Center for Vietnam and ASEAN Studies under the Russian Academy of Sciences’ Institute of Far Eastern Studies, said Russia is one of the destinations on the first foreign trip of President Nguyen Xuan Phuc, which reflects the importance of the Russia-Vietnam relationship. It noted that when he was Prime Minister of Vietnam, Phuc also visited Russia in 2019 and the visit had achieved great success with the signing of a series of agreements to promote bilateral cooperation in many fields including economy, trade, security, and defense, it said. The article stressed that collaboration with Vietnam has long been an important orientation in Russia's "pivot to the East" policy and has become increasingly relevant given the current international situation. This orientation is not intended to replace Russia's main partner in Asia, but to diversify Russia's economic and trade relations with the east. According to the article, …

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Da Nang calls for RoK’s investment in ICT A forum to promote investment in information and communications technology (ICT) in the central city of Da Nang from the Republic of Korea (RoK) was held virtually on November 30, bringing together representatives from over 200 enterprises and investors from the two countries. The event aims to introduce potential, advantages, preferential and investment support policies of Da Nang to RoK businesses and investors, especially in ICT, and high technology. Addressing the event, Deputy Minister of Information and Communications Phan Tam said the RoK is the largest foreign investor in Vietnam with over 9,000 valid projects worth over 71.5 billion USD, including nearly 500 investment projects in the ICT field with the presence of the world's leading technology corporations such as Samsung and LG. To welcome more investments from the RoK, the Vietnamese Government has been perfecting models, mechanisms and policies to create breakthrough …

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Vietnamese famers have average income of 3.4 million VND/month The Ministry of Agriculture and Rural Development reported that the average income for farmers in 2020 was 43 million VND/year, which is equivalent to under 3.4 million VND/month. In the Draft Strategy for Sustainable Agriculture and Rural Development for the 2021-2030 period (with a vision towards 2050), the Ministry set the goal of raising farmers’ average income and reducing poverty in a sustainable manner. By 2030, the rural population’s income would have to be 3 times higher than in 2020, and poverty rate would fall by 1-1.5 %. Vietnam targets 100,000 IT enterprises, digital economy to contribute 30% GDP At a recent event in Da Nang, Deputy Minister of Information and Communications Phan Tam said that Vietnam has had 58,000 ICT enterprises and has set a target for that number to reach 100,000 by 2025. "The goal is that by 2030, Vietnam will be in the top 50 countries in terms of digital governing, and its …

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With Hanoi hosting an international puppetry festival, it is hoped that more Vietnamese will develop a habit of visiting water puppet theaters to enjoy the centuries-old art form that is loved by foreign tourists but facing disinterest by domestic audience. The 2018 International Puppetry Festival takes place in the Vietnamese capital from October 8 to 15, with participation of the Wallonia-Brussels from Belgium, and troupes from Cambodia, Laos, the Philippines, Thailand, France, and Brazil. Four Vietnamese art units joining the event are the Thang Long Puppetry Theater, the Vietnam Puppetry Theater, the Ho Chi Minh City puppetry art troupe, and the puppetry art troupe of the northern city of Hai Phong. This is the fifth edition of the international festival, held to honor of the traditional Vietnamese art, and to present the value of Vietnamese puppetry and culture to international friends. Vietnam is the birthplace of water puppets, which emerged in the northern rice paddies …

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A leader of a province that administers Vietnam’s ‘tourism haven’ Phu Quoc has denied a rumor that the Omicron variant of the coronovirus has made it to the island. Phu Quoc has recorded zero Omicron infections so far, Nguyen Luu Trung, deputy chairman of the People’s Committee of Kien Giang Province, which manages the island, told Tuoi Tre (Youth) newspaper, referring to the B.1.1.529 variant of SARS-CoV-2. First reported to the World Health Organization (WHO) by South Africa on September 24, the Omicron mutant was designated by WHO as a variant of concern two days later. Scientists said the new variant could be 500 percent more infectious than Delta, which is dominating infections around the world now. Trung quoted a report by the Kien Giang Department of Health as showing no Omicron cases on Phu Quoc, thus scotching a rumor on social media that the variant had hit the city island. “This [rumor] is false information spread to subvert the island [administration], at a time …

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Vietnam continues to escape US currency manipulator status The US Department of the Treasury has just delivered its semiannual Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the US. In this report, Treasury reviewed and assessed the policies of major trading partners, who make up more than 80 per cent of US foreign trade in goods and services, during the four quarters through June 2021. In accordance with the Omnibus Trade and Competitiveness Act of 1988 (the 1988 Act), the report concludes that no major US trading partner manipulated exchange rates between its currency and the US dollar to prevent effective balance of payments adjustments or gain unfair competitive advantage in international trade. Accordingly, Vietnam continues to meet all three criteria under the Trade Facilitation and Trade Enforcement Act of 2015 (the 2015 Act) during the period under review. The Treasury has conducted an enhanced analysis of Vietnam’s …

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