Economic development and sustainable development

Deputy Prime Minister Lê Minh Khái (right) had talks with WTO Deputy Director-General Zhang Xiangchen on May 25. — VNA/VNS Photo GENEVA — Deputy Prime Minister Lê Minh Khái visited the headquarters of the World Trade Organisation (WTO) in Geneva and had a working session with its Deputy Director-General Zhang Xiangchen on May 25 afternoon (local time). Khái said that after 15 years of WTO membership, Việt Nam has gained numerous achievements in socio-economic development, successfully implemented sustainable development goals, and become one of the world’s largest commodity economies in 2021. He affirmed Việt Nam treasures the organisation’s central role in promoting an open, transparent, rules-based multilateral trading system; and hopes that WTO continues upholding its coordinating role to boost the global trade in an inclusive and equal manner, thus contributing to economic recovery and growth. The Deputy PM suggested that the WTO reform process should ensure a balance of … [Read more...] about WTO welcomes Việt Nam’s active engagement in global economic growth

Vietnam gained an overall score of 4.1 out of seven points, rising by 4.7 percent to leap from the 60 th place in 2019 to the 52 nd place out of 117 economies in the 2021 index, which was released recently by the World Economic Forum. The index measures the factors and policies that enable sustainable and resilient development of tourism from business, safety and health conditions, to infrastructure and natural resources, among others. The WEF report ascribed Vietnam’s improved ranking to its achievements in Covid-19 pandemic prevention, flexible adaptation as well as continuous efforts to develop safe tourism. Vietnam also performed well in price competitiveness, safety and security, air transport and port infrastructure as well as natural resources, it added. Japan tops the ranking, followed by the US, Spain, France, and Germany./. VNA … [Read more...] about Vietnam climbs 8 places in global tourism development index

The city has supported localities in building large-scale rice farming and encouraged businesses to expand distribution networks in the domestic market and exports. Hanoi is promoting sustainable rice production as a key solution to meet the growing demand for domestic consumption and exports. A delegate of the Hanoi's Department of Agricultural and Rural Development inspects organic farming production at Thach That District. Photo: Anh Ngoc Organic rice farming in Dong Phu Commune, Chuong My District, is considered one of the examples of rice production under the value chain. The Director of the Dong Phu Organic Agricultural Cooperative Trinh Thi Nguyet said from the original area of five hectares, the cooperative has now expanded its production area to 40 hectares. “The entire crop harvested would be later processed and distributed to other provinces/cities, as well as for exports,” Nguyet told The Hanoi Times . According to Nguyet, prices of … [Read more...] about Hanoi promotes sustainable rice production

Deputy Prime Minister Phạm Bình Minh delivers a speech at the 27th International Conference on the Future of Asia in Tokyo on Thursday. — VNA/VNS Photo Đào Thanh Tùng TOKYO — Deputy Prime Minister Phạm Bình Minh proposed that Asia strengthen its responsibility in keeping and creating a peaceful and sustainable environment for development and prosperity in the region and the world. This should be based on cooperation, understanding, trust, and responsibility, he said, while delivering a speech at the 27th International Conference on the Future of Asia (FOA 2022) in Tokyo on Thursday. He said, entering the third decade of the 21st century, the Asian region is witnessing profound historical changes, with both opportunities and challenges that have long-term impacts on future generations. As the region and the world are focusing resources to handle urgent unprecedented issues, first and foremost, countries need to make responsible contributions, show mutual respect, and equally … [Read more...] about Việt Nam calls for Asia to create peaceful, sustainable environment for world prosperity

The regional framework should be in line with international laws and ASEAN Centrality. Vietnam has highlighted the role of international economic initiatives when talking about the Indo-Pacific Economic Framework (IPEF) which was launched by the US three days ago. “Vietnam has joined a number of international economic initiatives that help make the most of domestic and foreign resources, serving the country’s development,” Spokesperson Le Thi Thu Hang of the Ministry of Foreign Affairs (MoFA) said today. Hang made the statement at the press conference on May 26 when talking about Vietnam’s participation in the launch of IPEF through a speech delivered by Prime Minister Pham Minh Chinh. Chinh said the launch of IPEF will kickstart a serious discussion in exchange of ideas towards addressing critical regional and global issues together, issues that no one can address on their own like ones on a global scope – supply chains diversification and resilience, technological … [Read more...] about IPEF should treasure openness, inclusiveness and transparency: foreign ministry

The pandemic has pushed forward the trends of e-commerce in Vietnam 2-3 years earlier than forecast with the sector growing in size four times over last year, according to a 2021 Lazada report. “Some of the e-commerce trends we expected would happen in 2025, such as in edutech and fintech, have already happened in 2022,” noted Nguyen Huy Hoang, chief business officer at OnPoint E-commerce. “Hence, all e-commerce platform companies are investing hugely in Vietnam.” However, as shopping centres and small brick-and-mortar stores are now reopened, many investors are concerned that the boom in e-commerce was just a short-term fad and the majority of consumers could quickly shift back to offline shopping. On May 12 at the Vietnam Online Business Forum, the general consensus amongst experts was that e-commerce will continue to boost the economy after the pandemic. Specifically, in the first quarter of 2022, the industry saw more than 8 million new online consumers. A survey … [Read more...] about All to play for in e-commerce rise

Jointly organized by the Japan International Cooperation Agency (JICA) and the Accounting and Auditing Supervisory Department (AASD) under the Ministry of Finance, the event gathered over 600 delegates from agencies, units, listed businesses, auditing companies and universities. The second event of its kind is within the framework of the technical cooperation project between AASD and JICA  on “strengthening the capacity of the AASD to promote the application of financial reporting standards in Vietnam” funded by the Japanese government. The forum is expected to help agencies of the Government, private sectors and training institutions in Vietnam understand the differences between Vietnamese accounting standards (VAS) and IFRS; as well as promote the exchange of views on the road-map for applying IFRS. Kobayashi Masaya, a representative of JICA  in Vietnam, expressed hope that the policy discussions will be promoted to find the best approach for the application of IFRS in … [Read more...] about Forum promotes application of int’l financial reporting standards in Vietnam

Vietnam and Cambodia signed a treaty on demarcation in 1985 and supplemented the document twice. Vietnam and Cambodia are working on completing the remaining 16% of the demarcation work, a Vietnamese spokesperson said today, adding that negotiations on this issue are on the way. Spokesperson Le Thi Thu Hang of the Vietnamese Ministry of Foreign Affairs said in answering a question on the issue raised at a press conference on May 26. “Completing the demarcation and planting border markers build the Vietnam-Cambodia borderline of peace, friendship, and sustainable development is the long-standing legitimate aspiration of the two peoples,” Hang said. Demarcation market No.240 along the Vietnam-Cambodia border. Photo: Ngoc Vien Nguyen/Panoramio In this regard, the two countries have marked off 1,045 km of the borderline or fulfilled 84% of the work. The achievements are essential for traveling, trading, friendship activities, as well as socio-economic … [Read more...] about Vietnam, Cambodia continue completing demarcation: Spokesperson

The 78th session of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) opened on May 23 in Bangkok. — VNA/VNS Photo BANGKOK — The General Statistics Office (GSO) of Việt Nam and the Việt Nam Institute of Agricultural Engineering and Post-Harvest Technology (VIAEP) on May 25 were elected to the Governing Councils of the Statistical Institute for Asia and the Pacific (SIAP) and the Centre for Sustainable Agricultural Mechanisation (CSAM) under the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). The elections were conducted within the framework of the ESCAP’s 78th session held in Bangkok. SIAP is a professional statistics training centre for government officials and others working on official statistics. It offers short- and long-term training specifically to strengthen knowledge and build skills of national governments' employees to produce, use, and share reliable statistics, including for the monitoring of the … [Read more...] about Two Vietnamese agencies elected to ESCAP organisations’ governing councils

Deputy Prime Minister Le Minh Khai works with WTO Deputy Director-General Zhang Xiangchen (Photo: VNA) Geneva (VNA) – Deputy Prime Minister Le Minh Khai visited the headquarters of the World Trade Organisation (WTO) in Geneva and worked with its Deputy Director-General Zhang Xiangchen on May 25 afternoon (local time). Khai said that after 15 years of WTO membership, Vietnam has gained numerous achievements in socio-economic development, successfully implemented sustainable development goals, and become one of the world’s largest commodity economies in 2021. He affirmed Vietnam treasures the organisation’s central role in promoting an open, transparent, rules-based multilateral trading system; and hopes that WTO continues upholding its coordinating role to boost the global trade in an inclusive and equal manner, thus contributing to economic recovery and growth. The Deputy PM suggested that the WTO reform process should ensure a balance of rights and obligations, … [Read more...] about Deputy PM works with WTO deputy director-general in Geneva