Easier micro or macro economics

Vietnam was the 8th largest trade partner and the largest ASEAN exporter of the US in 2022. (Photo: VNA) Hanoi (VNA) – The current trends in economic and trade cooperation between Vietnam and the US guarantee big growth in two-way trade and investment in next 10 years and warrant upgrading the partnership to a strategic level, said Ted Osius , President and CEO of the US - ASEAN Business Council ( USABC ). In an interview granted to the Vietnam News Agency ahead of the 10th anniversary of the two countries’ comprehensive partnership (July 2013 - 2023), the former US Ambassador to Vietnam said trade and investment play a big role in this relationship. The US is Vietnam’s second largest trading partner and biggest export destination. In 2022, bilateral trade reached a record high of 138.9 billion USD. Vietnam was the 8th largest trade partner and the largest ASEAN exporter of the US. The US was the biggest export market of Vietnam last year. Vietnam’s annual export to … [Read more...] about Current trends guarantee big growth in Vietnam – US trade, investment: USABC leader

Hanoi will apply many solutions to improve the efficiency of enforcing food safety regulations in 2023 and the future. The Hanoi People's Committee has issued a plan to ensure food security for ten million people in the capital by 2030. The plan, signed by Deputy Chairman of the Hanoi People's Committee Nguyen Manh Quyen, aims to strengthen the responsibilities of local governments and socio-political organizations to ensure food safety and security in Hanoi in all circumstances. The plan also aims to promote the resources of all economic sectors and support from the State to develop agriculture in a sustainable way. A farmer introduces a new rice variety in Hanoi’s outskirts. Photo: Lam Nguyen/The Hanoi Times According to the plan, by 2030, Hanoi will have approximately 55,000 hectares of rice production with an annual output of at least 660,000 tons of rice. In addition, the city has set targets to increase food consumption, reduce the rate of … [Read more...] about Hanoi to ensure food safety for ten million residents

Ninh Thuan to set off firework s to welcome grape – wine festival (Photo: VNA) Ninh Thuan (VNA) – The south central province of Ninh Thuan will hold a 15- minute firework display to welcome the Grape - Wine Festival 2023 and the ceremony to receive a certificate from UNESCO recognising the pottery-making art of the Cham ethnic minority people as Intangible Cultural Heritage in Need of Urgent Safeguarding. Vice Chairman of the provincial People's Committee Nguyen Long Bien said that the festival, running from June 13-18, are an important and meaningful event for Ninh Thuan to attract more tourists, thereby turning tourism into a spearhead economic sector with sustainable development in the coming years. Themed “Ninh Thuan – The land of convergence of different values”, spectators will have a chance to enjoy a low-range firework display in the opening night of the festival which is slated for June 16, 2023 at April 16 Square. According to Nguyen Van Hoa, Director … [Read more...] about Ninh Thuan to set off fireworks to welcome grape – wine festival

It is the VUFO’s most noble distinction honoring Park's significant contribution to the Vietnamese football and the friendly and cooperative relations between the people of Vietnam and the Republic of Korea (RoK). Speaking at the event, Nguyen Phuong Nga said the bilateral ties have become a successful model based on political trust, vibrant economic cooperation, and a close attachment in people-to-people exchanges. She attributed that to the important contribution of people’s organizations and individuals from both countries, including Park. As the head coach of the Vietnamese national football team from 2017 to 2022, Park trained and improved the talent of players, helping them gain confidence and bring glory to Vietnam at regional and international tournaments, including winning the 2018 AFF Cup championship, two gold medals in men's football at the 30th SEA Games in 2019 and the 31st SEA Games in 2021, becoming the second runner-up at the 2018 U23 Asian Cup, securing the fourth … [Read more...] about Coach Park Hang-seo awarded VUFO’s friendship insignia

But that was 10 years ago, before she met Hoang Son in 2018. He helped her realize that "being oversized is a unique advantage," she said. "I had probably been hurt too much, and Son came to compensate," the 30-year-old woman said of her now-boyfriend. Quynh and Son at a cafe in Ho Chi Minh City in 2022. Photo courtesy of Quynh Before meeting Son, Quynh believed that she had an "overweight" body. Her height was 1.6 meters, while her weight was 58 kilograms, about 10 kilograms more than the average weight of her peers. She was turned down for jobs many times because companies said she had an "underqualified appearance." But what hurt Quynh most was when her boyfriend of eight years told her to lose weight. "Everyone around me made me feel like I’m ugly. I tried to lose weight like my ex wanted me too, and I didn’t dare wear things he didn’t find eye-catching," she recalled. She also skipped meals and over-exercised. "Still, after all the effort I put in, … [Read more...] about Love changes oversize model’s life

According to the International Monetary Fund (IMF), Vietnam's GDP based on purchasing power parity (PPP) stood in 25 th position globally in 2022, ranking just below countries such as Australia, and Poland. Specifically, Australia's reached approximately $1.63 trillion, securing 20 th position worldwide, while Poland's stood at around $1.64 trillion, placing it 19 th . The IMF also estimates that by 2023, Vietnam is expected to secure fourth position in Southeast Asia with a forecast GDP PPP of approximately $1.45 trillion. Looking further ahead, by 2026, Vietnam is estimated to have surpassed Thailand, propelling it to the second spot in the region with a figure of around $1.87 trillion. By 2028, Vietnam's economy is anticipated to have reached approximately $2.21 trillion, placing it among the top 20 economies globally. The top 20 economies in 2028, according to the IMF, are predicted to include China, the United States, India, Japan, Germany, Indonesia, Russia, … [Read more...] about Vietnam projected to become 20th largest global economy

The National Assembly (NA) will discuss the VAT reduction from the existing 10 per cent rate to 8 per cent on June 1 before receiving an approval from NA deputies in a resolution slated for June 24, the last day of the ongoing fifth session. The VAT cut proposed by the government is set to be applied from July 1 to the end of 2023 for all types of goods and services currently subject to a 10 per cent VAT rate. The initiative is part of Resolution No.43/2022/QH15 released early last year on fiscal and monetary policies supporting the Programme on Socioeconomic Recovery and Development. Consumers of many types can benefit from VAT cuts, photo Le Toan Under Resolution 43, the 2 per cent cut was applied last year for goods and services subject to a 10 per cent rate, except for various goods and services such as telecommunications, IT, financial and banking activities, securities and insurance, trading of real estate, metal and precast metal products, mining products … [Read more...] about Support to continue in form of VAT cut

The government last week reported that under its latest calculations, the state budget revenue last year hit about VND1.815 quadrillion ($78.93 billion), which is VND201.4 trillion ($8.75 billion) or 12.5 per cent higher than a previously reported figure. “The revenue has sufficiently met all tasks on expenditures for development investment, social security, salary reform, and other necessary tasks,” the government stated. Budget estimate shortcomings require modern fix Such a revenue increase was thanks to a rise in many items, with enterprises performing relatively well despite massive difficulties. For example, the economy’s most updated export turnover last year reached $371.3 billion, higher than the $368 billion earlier reported to the National Assembly – with the exact trade surplus of more than $12.4 billion, far higher than the only $1 billion earlier reported to the legislative body. However, the National Assembly Economic Committee (NAEC) found that the … [Read more...] about Budget estimate shortcomings require modern fix

Vietnam’s services sector remains a bright spot, partially offsetting some external weakness, according to a report released by HSBC Vietnam on May 31. Illustrative image (Source: VNA) The report, themed “Vietnam May data: Still a long way to go,” said while Vietnam’s May trade data points to no further deterioration, there is still a long way to see a meaningful rebound in its trade cycle. Exports slightly fall According to the report, exports fell 5.8% year on year in May, a slower pace than the market expected, but with lingering broad-based weakness. None of the major categories, including electronics, machinery, textiles/footwear and wooden furniture showed signs of a meaningful rebound. Data as of April 2023 suggests substantial falling shipments in Vietnam’s three largest exporting destinations - US, China and the EU. In particular, with a hefty share of 30%, Vietnam is particularly sensitive to a US economic slowdown. Despite exports falling by … [Read more...] about Vietnam’s services sector remains a bright spot: HSBC

Farmer weaves lotus silk in the Mekong Delta province of An Giang. — VNA/VNS Photo The International Union for Conservation of Nature Viet Nam (IUCN) in cooperation with An Giang Province in the Mekong Delta has launched a project on developing a sustainable value chain of products from lotus silk, with the financial support of The Coca-Cola Foundation (TCCF). The organisation has recently held a workshop to introduce the project to relevant stakeholders, focusing on the role of flood-based agriculture, the value chain for flood crops such as lotus and, in particular, the added value that can be developed from lotus silk. The project's goal is to promote flood-based livelihoods using lotus cultivation to support flood retention areas and restore some of the four billion cubic metres of water retention that was lost between 2000 and 2011 in the Mekong Delta. It will develop lotus silk making as a sustainable occupation for local communities, especially women. The project … [Read more...] about An Giang seeks to develop value chain of products from lotus silk