Eu indonesia trade cooperation facility

Jakarta (VNA) - Indonesia's trade surplus hit a record high in April, surpassing its peak in last October amid soaring global commodity prices that boosted exports. The National Statistics Agency (BPS) announced on May 17 that Indonesia had registered a surplus for the 24th consecutive month in April, which had more than tripled to 7.56 billion USD year on year and increased 66 percent month on month. Economists forecast that Indonesia will benefit from rising in global commodity prices due to the impacts of the Russia-Ukraine conflict as revenues from the exports of crude palm oil (CPO), coal, and metal ores are higher than the increase in imports. According to BPS, Indonesia ’s exports reached 27.32 billion USD in April, up 47.76 percent year on year. The mining industry had the strongest export growth, almost doubling year on year to 6.41 billion USD.  Meanwhile imports rose 21 percent to 19 billion USD. China remained Indonesia's top export destination, … [Read more...] about Indonesia enjoys largest trade surplus in history in April

Many delegates discuss solutions to reduce congestion at Cat Lai Port in HCMC. (Photo: SGGP) The workshop attracted more than 70 delegates from customs authorities, ministries, and the business community to discuss this action plan. At the workshop, the relevant units announced 21 recommendations to improve the operational efficiency of Cat Lai Port to meet the increasing demand. Before the Covid-19 pandemic, the port was operating at full capacity. Meanwhile, the demand calculated by the number of containers is forecast to double by 2030. The above 21 recommendations are the results of a pre-feasibility study on congestion prevention and logistics facilitation at Cat Lai Port conducted by the Trade Facilitation Project funded by the USAID from May 2020 to March 2021. The study comprehensively reviewed port operations on an area of 160 hectares to assess operational efficiency, bottlenecks, and shortcomings in the process of enhancing the handling capacity of the port. On … [Read more...] about HCMC cooperates with USAID to ease container congestion at Cat Lai Port

President Nguyễn Xuân Phúc (right) meets Speaker of the Singaporean Parliament Tan Chuan-Jin on Thursday. VNA/VNS Photo HÀ NỘI — Speaker of the Singaporean Parliament Tan Chuan-Jin said Singapore’s Prime Minister wants to visit Việt Nam in 2023 when the two countries celebrate the 50th anniversary of the establishment of diplomatic relations, during his meeting with Vietnamese President Nguyễn Xuân Phúc on Thursday. President Phúc said that the presence of Speaker Tan at the 31st SEA Games provides great encouragement to the host country Việt Nam and the Singapore sports delegation. The Vietnamese leader praised the good results of talks between Vietnamese NA Chairman Vương Đình Huệ and his Singaporean counterpart. Assessing that trade growth between the two countries is very positive, with more Singaporean projects investing in Việt Nam, the President said that the Vietnam Singapore Industrial Park is considered a symbol of economic cooperation between the two countries. … [Read more...] about Việt Nam, Singapore to strengthen cooperation ahead 50th anniversary of diplomatic relations

The top Greek leader is on her first official visit to Vietnam. The legislator congratulated Sakellaropoulou as the first female President of Greece, a country with an important position in Europe. Chairman Hue said he believed that the president's visit to Vietnam is an important step, helping to further promote the traditional friendship and multifaceted cooperation between the two countries. He expressed delight that the friendship and multifaceted cooperation between the two countries has been continuously strengthened and developed, which is demonstrated by exchanges of delegations at all levels. National Assembly Chairman Vuong Đinh Hue meets Greek President Katerina Sakellaropoulou in Hà Nội on Wednesday (Photo: VNA/VNS) The cooperation in trade and economy has developed positively, particularly since the Europe-Vietnam Free Trade Agreement (EVFTA) was implemented. Chairman Hue proposed the two countries continue promoting cooperation in areas that are … [Read more...] about NA Chairman Hue welcomes Greek President

The speech, themed “Sincerity, trust and responsibility for a better world,” focused on how Vietnam sees the world today, the role of sincerity, trust and responsibility in a turbulent world, and what the country needs to do in order to demonstrate sincerity, and bolster trust and responsibility, for a better world. It underlined Vietnam’s willingness to cooperate with the international community to deal with issues that all countries, small or large, rich or poor, have to settle together, while affirming in a world full of turbulence, strategic competition and a great many choices, Vietnam picks no side. “Instead it chooses justice, fairness and goodness, based on the principles of international law and the U.N. Charter. It chooses equality, shared benefits for all, and win-win for all.” Gregory B. Poling, Director of the CSIS’s Southeast Asia Program and Asia Maritime Transparency Initiative, said that the Vietnamese PM’s speech conveyed important and comprehensive messages, and … [Read more...] about U.S. experts laud PM Chinh’s speech at CSIS

During her stay in Vietnam, President Sakellaropoulou paid tribute to late President Ho Chi Minh at his Mausoleum, laid a wreath at the Heroic Martyrs’ Monument, held talks with President Nguyen Xuan Phuc, paid a courtesy visit on Party General Secretary Nguyen Phu Trong, met with National Assembly Chairman Vuong Dinh Hue, witnessed the signing of important documents, and joined a tea party chaired by Vice President Vo Thi Anh Xuan. Welcoming the Greek President, Party General Secretary Trong affirmed that Vietnam attaches much importance to its traditional friendship with Greece and is delighted at the important progress in their bilateral ties. He gave a number of proposals to promote the partnership in all fields, and suggested Greece continue to support the Vietnamese community in the country. During talks between the two presidents, they shared delight that despite the impacts of the COVID-19 pandemic, trade between the two countries still increased to 447 million USD in 2021, … [Read more...] about Greek President wraps up official visit to Vietnam

Pham Viet Tuan-Associate, Indochine Counsel Many of the negative risks arise because of the complicated Vietnamese land laws, which prevent not only foreign investors but also local developers from developing projects. This article will give some hints on how they could properly tackle issues related to land in property project development through the contribution of land. In the Vietnamese real estate market, it is common for a property developer to have land but not the budget or experience/resources needed to develop the project. In this case, such developers might seek other ways to conduct their business plan. Some solutions may be to secure a loan facility from a bank; to cooperate with other developers who have experience/resources in the project development; or to call for financial aid from funds, and foreign/local investors or to issue bonds in the capital market. Each solution has its pros and cons. From a foreign perspective, project land is essential to project … [Read more...] about Making better decisions in real estate

The United States Agency for International Development (USAID) and the General Department of Vietnam Customs (GDVC) on Thursday released an action plan for reducing congestion at Cat Lai Terminal, Vietnam’s busiest container operation in Ho Chi Minh City. Containers at Cat Lai Port The action plan, unveiled at a workshop co-organized by USAID and GDVC, contains 21 recommendations to help position the port to meet increasing demand. Before COVID-19, the port was operating at full capacity, with demand as measured by container volume expected to double by 2030. The workshop brought together more than 70 representatives from Vietnam Customs, ministries, and the business community to discuss the action plan—the result of a Pre-Feasibility Study on Anti-Congestion and Facilitating Trade Logistics at Cat Lai Port conducted by the USAID Trade Facilitation Program between May 2020 and March 2021. The study takes a comprehensive look at the 160-hectare port’s … [Read more...] about USAID supports efforts to reduce congestion at Cat Lai Port

Vietnam achieved decent growth in the first quarter despite global geopolitical instability. The socioeconomic statistics report for the first quarter of 2022 of the General Statistics Office published on March 29 stated that GDP in the first quarter was estimated to increase by 5.03 per cent over the same period last year. A day before the report, Fitch Ratings forecast that Vietnam’s growth would recover to 6.1 per cent in 2022 and 6.3 per cent in 2023 thanks to increased domestic consumption, exports, and investment inflows. For the nation’s economic progress, the Power Development Plan VIII (PDP8) is the basis to guarantee the stability of Vietnam’s power source system. According to the Ministry of Industry and Trade (MoIT), by the end of 2021, the total installed capacity of renewable energy sources reach around 20,670MW, accounting for 27 per cent of the total installed capacity of the whole system (76,620MW). Finding the spark to ignite energy goals, illustration … [Read more...] about Finding the spark to ignite energy goals

Processing tra fish for export. (Photo: SGGP) It is expected to boost the export of Vietnamese pangasius to the US market in the near future. The six facilities are the Hop Nhat Seafood Corporation, Atlantic Seafood Freezing factory, Basa Mekong factory, High grade pangasius product exporting & Processing Factory, Co May 2 seafood processing export factory and CK Frozen Food Vietnam Co. Ltd. NAFIQAD also noted that factories should comply with the provisions of the program on controlling food safety for siluriformes fish and fish products exported to the US issued in Decision No. May 22, 2020 and instructions in Official Letter No. 803/QLCL-CL1 dated June 18, 2020, ensuring that the entire chain of production, processing and export of pangasius fully meets the regulations of both Vietnam and the US. The Centre for Agro-Forestry-Fisheries Quality Zone 4 and 6 will appraise and issue certificates for pangasius shipments of these factories to the US market in accordance with … [Read more...] about Six more pangasius processing factories eligible to export to US