Asean objectives roles and functions

Weightlifter Dang Thi Linh Phuong (centre) at the 12th ASEAN Para Games . (Photo: VNA) Phnom Penh (VNA) – Vietnam bagged 15 gold medals, ranking second in the tally after Indonesia (23 golds) as of 20:30 on June 4 - the first official competition day of the 12th ASEAN Para Games that is taking place in Cambodia. Notably, Vietnamese weightlifters and swimmers won many gold medals on the day. Dang Thi Linh Phuong won two gold  medals in the women's under-50kg weightlifting , Le Van Con g bagged two golds in the men’s under-49kg, and Nguyen Binh An got two golds in the men’s under-54kg. Le Van Cong receives a gold medal in the men’s under-49kg. (Photo: VNA) Vo Huynh Anh Khoa brought home a gold medal as he came first in the 400m men’s freestyle swimming event, clocking 5 minutes and 20.94 seconds. Meanwhile, Vi Thi Hang set a new Southeast Asian record of 6 minutes and 57.95 seconds in the 400m women’s freestyle swimming event. The old record was 9 minutes and … [Read more...] about ASEAN Para Games 12: Vietnam ranks second after first competition day

President of the Vietnam Fatherland Front Central Committee Do Van Chien (third from left) and VGCL President Nguyen Dinh Khang (centre) present certificates honouring the outstanding collectives at the event on June 4. (Photo: VNA) Hanoi (VNA) – The Vietnam General Confederation of Labour (VGCL) held a ceremony in Hanoi on June 4 to honour the role models in patriotic emulation movements, an activity in celebration of 75 years since then President Ho Chi Minh issued an appeal for patriotic emulation (June 11, 1948). The event, titled “Glory to Vietnam”, was the 18th held so far. It also celebrated all-level trade union congresses and the coming 13th Vietnam Trade Union Congress . VGCL President Nguyen Dinh Khang said the programme, first held on the International Labour Day (May 1) in 2004, aims to honour the collectives and individuals with remarkable achievements in patriotic emulation movements or national construction and safeguarding. In the previous 17 editions, … [Read more...] about Role models in patriotic emulation honoured

Operating for 14 years in the country, British University Vietnam (BUV) has asserted its position, quality, and outstanding reputation in the education sector by continuously improving the quality of its training, demonstrating the international standard and value of British higher education. BUV pledges investment in quality education in Vietnam BUV, located in Ecopark 14km from the centre of Hanoi, is the first and only university in Vietnam and ASEAN to have been awarded accreditation from the Higher Education Quality Assurance Agency. To earn the recognition of quality, BUV has completed the International Quality Review, a rigorous procedure which benchmarks global higher education institutions against the United Kingdom’s international quality assurance standards, with the university achieving the highest level of performance in all 10 categories and outstanding accomplishments in all academic aspects. BUV is also the first and only university in Vietnam to be … [Read more...] about BUV pledges investment in quality education in Vietnam

The most effective competitive advantage for Vietnam's economy is creating a favorable business investment environment free of legal barriers. Prime Minister Pham Minh Chinh has signed a decree to urge ministries and provinces/cities to boost administrative reforms and improve the investment environment to support local enterprises. Electronics production at Katolec Vietnam in Quang Minh Industrial Park, Hanoi. Photo: Pham Hung/The Hanoi Times "A conducive investment environment is a fundamental platform helping businesses operate smoothly and drive growth. This, in turn, promotes job creation and contributes to overall socio-economic development," said the decree. Vietnam has been trying to cut administrative regulations and compliance costs as part of its national digital transformation effort. As of May 2023, the country's total number of administrative procedures was 6,422, 376 fewer than the same period in 2020. This is expected to improve the … [Read more...] about PM urges greater efforts to accelerate administrative reforms

PM Pham Minh Chinh (R) and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi at the meeting in Hanoi on June 5. (Photo: VNA) Hanoi (VNA) - Prime Minister Pham Minh Chinh received Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi of the United Arab Emirates (UAE) in Hanoi on June 5, calling on the UAE to work closely with the Vietnamese Ministry of Industry and Trade to soon finalise talks on the bilateral Comprehensive Economic Partnership Agreement (CEPA). The host leader hailed the two sides’ efforts to promote negotiations on the CEPA, especially when the two countries are celebrating the 30th founding anniversary of bilateral diplomatic relations in 2023. He affirmed Vietnam’s consistent foreign policy of independence, self-reliance, diversification and multilateralisation of external relations, and being a good friend, trustworthy partner, and responsible member of the international community. The country is also working to develop an … [Read more...] about PM calls for early finalisation of Comprehensive Economic Partnership Agreement with UAE

Asia’s increased borrowing in recent decades has augmented the region’s exposure to rising interest rates and heightened market volatility, said the International Monetary Fund (IMF). According to the IMF’s latest report on May 25, over 18 per cent of Vietnamese enterprises were found to have an interest coverage ratio (ICR) below one, indicating a high risk of default as of June 2022. Additionally, 18.32 per cent of companies had an ICR between 1-4, making them vulnerable to increased borrowing costs, while 63.36 per cent had an ICR of four, signalling a good debt repayment capacity. The report attributes the heightened risks to the rising cost of borrowing, as central banks tighten monetary policies and increase interest rates to combat inflation. Despite maintaining growth rates, companies face significant pressure due to higher borrowing costs, reducing their ability to repay debts. As of mid-2022, 17 per cent of Asia’s corporate debt was held by firms with interest … [Read more...] about IMF highlights rising debt risks for Asian companies

On June 3, the Vietnam Sport Economy Summit 2023 took place in Hanoi with the coordination of the Vietnam Sports Administration (VSA), Central Committee’s Economic Commission and Vietcontent. Speakers at the Vietnam Sport Economy Summit 2023 on June 3, 2023 The first Vietnam Sport Economy Summit 2023, with the theme Unleashing the potential of the sports economy in the renovation period, included three discussions around the issue of cash flow in sports. Topics specific to each session included the business of sport and the central role of the league; professional sports leagues and related matters; as well as sports tournaments, school sports and related issues. The speakers gave views, opinions, and shared experiences on issues related to the management and development of Vietnam's sports economy both now and in the future. Dang Ha Viet, chairman of the Vietnam Sports Administration, said that the globalisation of the sports economy was increasingly developing in … [Read more...] about Vietnam Sport Economy Summit 2023

The fifth plenary session of the 15th National Assembly has discussed and approved a number of important draft bills, including three new amendments to regulations that have significant impacts on the tourism industry in Vietnam. These policies are expected to boost the recovery and development of the tourism sector. Martin Koerner - Chairman EuroCham Vietnam’s Tourism and Hospitality Sector Committee The first law is to extend the visa exemption duration from the current 15 days to 45 days for citizens of countries that currently can travel to Vietnam visa exempt, including France, Germany, Italy, Spain, the UK, Japan, South Korea, Norway, Finland, Denmark, and Sweden. This law aims to attract more tourists from these key markets and encourage them to stay longer and spend more here. The second law is to expand the list of countries eligible for e-visa from 46 to 80, including markets such as India, Brazil, Mexico, and Argentina. The e-visa allows visitors to apply … [Read more...] about The future of tourism in Vietnam new visa policies and beyond

Vietnamese Minister of Foreign Affairs Bui Thanh Son . (Photo: VNA) Paris (VNA) – Vietnamese Ambassador to France Dinh Toan Thang has said Vietnamese Minister of Foreign Affairs Bui Thanh Son’s attendance at the 2023 Organisation for Economic Cooperation and Development (OECD) Ministerial Council Meeting (MCM) and official visit to France from June 5-8 would provide an opportunity to reaffirm the common perception of the vision of the bilateral relations and the determination to promote deeper and closer connections between the two countries, particularly in meeting their requirements in the new context. In an interview granted to the Vietnam News Agency (VNA)'s resident correspondents in Paris, Thang said it is the first visit to France by a Vietnamese Minister of Foreign Affairs since the two countries upgraded their relationship to a strategic partnership a decade ago. It is also meant to celebrate the 50th anniversary of bilateral diplomatic ties and the 10th … [Read more...] about FM’s France visit to reaffirm common perception of vision of bilateral ties: Ambassador

A view of Nam Cau Kien Eco-Industrial Park in Hai Phong. — VNA/VNS Photo Tran Viet The development of eco-industrial parks is considered an effective solution to contribute to completing the net zero emission target by 2050 in Viet Nam. However, there are still many problems with the mechanism. In a report on the development of industrial parks and economic zones conducted by the Ministry of Planning and Investment, by 2030, 40-50 per cent of localities will have plans to convert existing industrial parks to eco-industrial parks, and 8-10 per cent of localities have orientations to build new ecological industrial parks. This will contribute to the concretisation of the net zero commitment by 2050. However, many experts and businesses believe that it is necessary to have the determination of the businesses to achieve this goal, along with preferential policies and mechanisms. Now, Viet Nam has more than 400 industrial parks, but few of those industrial parks have strategies to … [Read more...] about Eco-industrial park development targets net zero emissions