European union

A robust public finance management system will enable Vietnam to achieve its long-term socio-economic growth. The EU and Germany have pledged to fund a project worth EUR14 million (US$15.1 million) for Vietnam titled “Strengthening Public Financial Management in Vietnam”, which is part of the ongoing EU-supported Enhancing Economic Governance Program. The additional fund was announced in Hanoi on January 17, aiming at strengthening Vietnam's public financial management, which is crucial for fulfilling the United Nations 2030 Agenda for Sustainable Development in Vietnam. “I hope it will contribute to Vietnam’s macroeconomic stability and strengthen the government’s ability to implement its fiscal and economic policies,” said EU Ambassador Giorgio Aliberti. He affirmed that the EU remains strongly committed to supporting sustainable development and inclusive growth in Vietnam. Delegates from Vietnam's Ministry of Finance, the European Union, and the Government … [Read more...] about EU, Germany fund to enhance public financial management in Vietnam

Illustrative image. (Photo: VNA) Hanoi (VNA) - The trade turnover between Vietnam and the European Union (EU) reached 76.3 billion USD last year, a year-on-year increase of 5.1%, according to the European-American Market Department under the Ministry of Industry and Trade (MoIT). Of this, exports hit 56 billion USD, up 10.2% compared with the 2021’s figure, it said. market share of Vietnamese goods in the EU's total imports is 1.8%, higher than that of other Southeast Asian countries such as Malaysia (1.2%), Thailand (0.9%), Indonesia (0.7%) and Singapore (0.7%), according to the European Statistics Agency (Eurostat)./. VNA … [Read more...] about Vietnam’s exports to EU increase 5.1% in 2022

Hanoi (VNA) – Strengthening the connectivity between the European Union (EU) and the Association of Southeast Asian Nations (ASEAN) and deepening the bilateral economic ties will be one of the priorities of the 27-member union this year, according to EU Ambassador to ASEAN Igor Driesmans . The diplomat said that the signing of the EU-ASEAN comprehensive air transport agreement, the first ever region-to-region aviation agreement in 2022, will provide quite a boost to air connectivity between the 37 countries involved. The EU wants to invest more in the region, he said, adding that leaders of the union have announced 10 billion EUR (10.88 billion USD) in investment in Southeast Asia in the next couple of years through the “Global Gateway” sustainable investments in the region at a hope to address some of ASEAN's big connectivity needs and build on some of the successes in that respect of our previous cooperation. He noted that the EU has already signed free trade agreements … [Read more...] about EU to focus on deepening economic ties with ASEAN: diplomat

Vietnamese chili pepper exhibited at the 11th edition of the World Chili Pepper Trade Fair in the city of Rieti, central Italy, last year. (Photo: VNA) Hanoi (VNS/VNA) - A number of herbs and spices imported by the European Union (EU) from Vietnam will face fewer checks when entering the bloc. The Vietnam Trade Office in Belgium and the EU said that the European Commission (EC) on January 27 published the Commission Implementing Regulation (EU) 2023/174, issued on January 26. The document concerns the temporary application of official and emergency control measures for certain foods imported into the EU. The new rules are an amendment to the Commission Implementing Regulation (EU) 2019/1793. Accordingly, for Vietnam, spices that were previously controlled at a frequency of 50% such as coriander, basil, mint and parsley have been removed from the control list. Currently, only chili peppers are on the EU border control list with a quality control frequency of 50%. … [Read more...] about Many Vietnamese spices removed from EU’s control list

Singaporean Minister-in-charge of Trade Relations S Iswaran and European Commissioner for Internal Market Thierry Breton sign the EU-Singapore Digital Partnership on February 1, 2023. (Photo source: Channelnewsasia) Brussels – The European Union (EU) and Singapore on February 1 signed in Brussels the EU-Singapore Digital Partnership (EUSDP) that will lead to a digital trade agreement to enable consumers and businesses to transact online more seamlessly and at lower costs. The pact aims to boost participation in the digital economy by imparting relevant skills to workers in both jurisdictions and transforming their businesses and public services. Other areas of collaboration include digital trade facilitation, trusted data flows, electronic payments and standards. The deal will also focus on emerging areas such as artificial intelligence, digital identities, and 5G/6G communication networks. Signatories were Singapore’s Minister-in-charge of Trade Relations S. Iswaran and … [Read more...] about EU-Singapore launch digital partnership

At least 40 people were killed on Sunday when a domestic flight crashed in Pokhara in Nepal, an aviation authority official said, in the small Himalayan country's worst crash in nearly five years. Hundreds of rescue workers were scouring the hillside where the Yeti Airlines flight, carrying 72 people from the capital Kathmandu, went down. The weather was clear, said Jagannath Niroula, spokesman for Nepal's Civil Aviation Authority. Local TV showed rescue workers scrambling around broken sections of the aircraft. Some of the ground near the crash site was scorched, with licks of flames visible. "The plane is burning," said police official Ajay K.C., adding that rescue workers were having difficulty reaching the site in a gorge between two hills near the tourist town's airport. The craft made contact with the airport from Seti Gorge at 10:50 a.m. (0505 GMT), the aviation authority said in a statement. "Then it crashed." "Half of the plane is on the hillside," said Arun Tamu, a … [Read more...] about At least 40 killed in Nepal’s worst air crash in nearly five years

At least 67 people were confirmed dead Sunday after a plane with 72 on board crashed in Nepal, police said, in the Himalayan country's worst aviation disaster in three decades. Rescuers inspect the wreckage at the site of a plane crash in Pokhara on January 15, 2023. Six children were among those on board the ATR 72 twin-engine turboprop aircraft when it plummeted into a steep gorge, smashed into pieces and burst into flames in the central city of Pokhara, officials said. As light faded late Sunday and soldiers used ropes and stretchers to extract bodies from the 300-metre-deep (1,000-foot) ravine, there was no word on the fate of the five people still unaccounted for. "We are actively working to retrieve and identify the bodies as soon as possible and hand (them) over to their families," police official AK Chhetri told AFP at the crash site, which was still smouldering and strewn with aircraft debris, including the mangled remains of wings and passenger seats. … [Read more...] about At least 67 killed in Nepal plane crash

Hundreds of rescue workers were scouring the hillside where the Yeti Airlines flight, carrying 72 people from the capital Kathmandu, went down. Local TV showed rescue workers scrambling around broken sections of the aircraft. Some of the ground near the crash site was scorched, with licks of flames visible. The crash is Nepal's deadliest since 1992, the Aviation Safety Network database showed, when a Pakistan International Airlines Airbus A300 crashed into a hillside upon approach to Kathmandu, killing all 167 people on board. The plane made contact with the airport from Seti Gorge at 10:50 a.m. (0505 GMT), the aviation authority said in its statement. "Then it crashed." Police official Ajay K.C. said rescue workers were having difficulty reaching the site in a gorge between two hills near the tourist town's airport. "Half of the plane is on the hillside," said Arun Tamu, a local resident, who told Reuters he reached the site minutes after the plane went down. "The other half … [Read more...] about At least 68 killed in Nepal’s worst air crash in 30 years

A foreign-invested footwear company in Binh Duong Province. Reviewing domestic policies to adapt to the global minimum corporate income tax is urgent for Viet Nam to remain attractive to FDI. — VNA/VNS Photo Hong Dat Viet Nam needed to take action to come up with appropriate tax policies and adapt to the global minimum corporate income tax, a major pillar of the Organisation for Economic Co-operation Development (OECD)’s base erosion and profit–shifting (BEPS) framework. A number of countries were adopting Pillar Two global minimum corporate tax and moving toward implementing this measure. In the tax insights issued early last week, PwC wrote that South Korea was the first country to have codified the global minimum tax rules in its domestic legislation. The newly enacted rules are added to the existing Korean Law for the Coordination of International Tax Affairs. In December, the European Union (EU) reached a unanimous agreement to implement this global minimum tax … [Read more...] about VN needs to move forward on global minimum tax

Deputy Prime Minister Tran Hong Ha (centre) (Photo: VNA) Davos (VNA) – Deputy Prime Minister Tran Hong Ha on January 17 attended, delivered speeches at important sessions, and had bilateral meetings, as part of his activities at the 53rd World Economic Forum (WEF) Annual Meeting in Davos , Switzerland. At a discussion of the Food Action Alliance, Ha shared Vietnam’s experience in ensuring food security and agricultural development, saying the country has attached special importance to agriculture, taking it an economic spearhead. The Party and the State have rolled out sound policies on agriculture and rural development, he said, noting that farmers, scientists, businesses and the State have been linked together and attention paid to international cooperation, notably the tripartite collaboration with the European Union (EU) and Africa. Regarding food transformation, Ha highlighted opportunities in energy transition in parallel with food transformation, and the … [Read more...] about Vietnam shares experience in ensuring food security, agricultural development