German trade and invest

Hanoi (VNA) - Vietnam’s footwear sector is now beginning to see positive signs after export revenue for footwear and handbags fell 11 percent year-on-year to 19.5 billion USD in 2020, making it one of the sectors hardest hit by COVID-19. Vietnamese companies have proved their capacity in research and development (R&D) and design, according to Chairman of the Vietnam Leather, Footwear and Handbag Association (LEFASO) Nguyen Duc Thuan. Signs show that Vietnam is further penetrating into the leather-footwear supply chain, he said, as the design and R&D processes rake in high added value for products. The domestic supply of materials for the sector now represents 60 percent. Local businesses can take the initiative in producing soles and moulds, as well as packaging and labelling. This is attributable to their activeness in manufacturing materials locally, Thuan added. In particular, the Gia Dinh Footwear JSC has set up industrial clusters to attract investment in … [Read more...] about Footwear sector further penetrates global supply chain

Hanoi (VNA) - Deputy Prime Minister and Foreign Minister Pham Binh Minh on January 27 sent a congratulatory message to newly-appointed US Secretary of State Antony Blinken. In the message, Minh spoke highly of Blinken’s contributions to the promotion of the Vietnam-US relationship over the years. He affirmed that Vietnam attaches importance to and hopes to strengthen the bilateral relationship in a practical, stable, and long-term direction based on the principle of respecting international law as well as each other’s independence, sovereignty, territorial integrity, and political institutions. Minh also expressed a hope that the foreign ministries of Vietnam and the US continue to work closely together, thus contributing to further deepening the Vietnam-US comprehensive partnership, especially in the fields of economy, trade, investment, and COVID-19 response. Earlier, on January 25, he also cabled a message of congratulations to US National Security Advisor Jake … [Read more...] about Congratulations to newly-appointed US Secretary of State

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index lost 38.95 points, equivalent to 3.43 per cent, to end Wednesday at 1,097.17 points. The trading day ended with 413 stocks declining, of which 64 stocks hit the maximum intra-day loss of 7 per cent. Another 51 stocks climbed, while 34 ended flat. … [Read more...] about VN-Index falls under 1,100 points as many big stocks hit the maximum daily loss

Hanoi (VNA) - The national finance sector has recorded important developments and made decisive contributions to the country’s achievements, according to member of the Party Central Committee and Minister of Finance Dinh Tien Dung. Addressing a discussion within the framework of the 13th National Party Congress on January 27, Dung said the financial sector has implemented the policy of e-government development towards a digital government and digital economy, and promoted IT application and development. Businesses now basically conduct all tax declarations, tax payments, tax refunds, and customs procedures via digital platforms. The restructuring of the State budget and public debt in the 2016-2020 period helped strengthen national finances while mobilising more resources for COVID-19 prevention and control, supporting the national economy to avoid recession, helping Vietnam become one of the few economies posting positive growth in 2020, and creating an important foundation … [Read more...] about Finance sector contributes decisively to national achievements: Official

Hanoi (VNA) – Vietnam will elevate bilateral and multilateral relations in the time to come as stated in the draft documents submitted to the ongoing 13th National Congress of the Communist Party of Vietnam (CPV). Talking to reporters on the sidelines of the Congress at the National Convention Center in Hanoi on January 27, Hoang Binh Quan, head of the Party Central Committee’s Commission for External Relations, said Vietnam will make efforts to make its bilateral relations more substantive and effective, focusing on increasing political trust. Currently, the CPV has a resolution to enhance Vietnam's multilateral relations in a spirit that the country will both actively and proactively engage in multilateral mechanisms and initiatives, he said. “This is a development step in the foreign policy of the Party and Government of Vietnam in the coming term,” he noted. Regarding the effectiveness of Vietnam’s foreign policy, Quan said that Vietnam has joined … [Read more...] about Vietnam aims to elevate bilateral, multilateral relations