Hidden joblessness threatens economic recovery in us and europe

Vietnam continues to benefit from its broad re-opening strategy, which saw a huge crowd flocking to tourist hotspots in the country and household spending rebound. Vietnam’s economic recovery is gaining momentum despite heightened global uncertainty related to the protracted war in Ukraine, higher commodity prices, and tightening global financial conditions, according to the World Bank. Cargo handling at Dinh Vu port, Haiphong. Photo: Cong Hung In its latest report, the World Bank pointed out the robust growth of industrial production by 9.4% in April, comparable to pre-pandemic rates. Manufactures of apparel, footwear, electronics, electrical equipment, and metal products were the most dynamic sub-sectors, registering double-digit growth rates, it added. However, machinery manufacturing slowed from 26.6% year-on-year in March to only 5.1% in April. This deceleration was related to supply chain disruptions caused by lockdowns in China, which led to a … [Read more...] about Vietnam’s economic recovery gaining momentum

Chair of National Assembly Committee for External Relations Vũ Hải Hà. — VNA/VNS Photo Doãn Tấn HÀ NỘI — The visit by National Assembly (NA) Chairman Vương Đình Huệ to Laos from May 15-17 was a success, helping further foster the cooperative relations and mutual support between the two parliaments, and bolster the great friendship, special solidarity and comprehensive partnership between the two countries, according to Chairman of the NA Committee for External Relations Vũ Hải Hà. Speaking to the Vietnam News Agency following the visit, Hà said that senior leaders of Laos highly valued the first visit by Huệ as the Vietnamese top legislator during the two countries’ Solidarity and Friendship Year 2022, making him the first foreign parliament leader to visit Laos during the ninth tenure of the Lao NA. The Lao side congratulated Việt Nam on its achievements in socio-economic development and pandemic control, and informed the Vietnamese leader on Laos’ socio-economic targets and … [Read more...] about Successful NA Chairman’s visit helps bolster partnership with Laos: Official

NA Chairman Vuong Dinh Hue (L) and General Secretary of the Lao People's Revolutionary Party (LPRP) Central Committee and President of Laos Thongloun Sisoulith (Photo: VNA) Hanoi (VNA) – The visit by National Assembly (NA) Chairman Vuong Dinh Hue to Laos from May 15-17 was a success, helping further foster the cooperative relations and mutual support between the two parliaments, and bolster the great friendship, special solidarity and comprehensive partnership between the two countries, according to Chairman of the NA Committee for External Relations Vu Hai Ha. Speaking to Vietnam News Agency following the visit, Ha said that senior leader of Laos highly valued the first visit by Hue as the Vietnamese top legislator during the Vietnam-Laos, Laos-Vietnam Solidarity and Friendship Year 2022, making him the first foreign parliament leader to visit Laos during the ninth tenure of the Lao NA. The Lao side congratulated Vietnam on its achievements in socio-economic development and … [Read more...] about NA Chairman’s visit helps bolster partnership with Laos: Official

Greece lies at the juncture of Europe, Asia, and Africa, connecting important global trade routes. Greece hopes to expand trading relations with Vietnam after the ongoing visit paid by Greek President Katerina Sakellaropoulou. Greek President Katerina Sakellaropoulou welcomed in Hanoi on May 16. Photos: The World and Vietnam The Hellenic Republic expects to be a gate for Vietnamese goods to the European Union (EU) harnessing the EU-Vietnam Free Trade Agreement (EVFTA), according to Greek Ambassador to Vietnam Georgios Stilianopoulos, noting that Greece is one of the first countries ratifying the partnership and cooperation agreement (PCA) and approved the EU-Vietnam Investment Protection Agreement (EVIPA). Its geography allows Greece to connect to Europe, the Middle East, and the Black Sea, Stilianopoulos said, stressing that the Covid-19 pandemic has prompted a surge in demand for flexible supply chains. Being an EU member located at the juncture of the … [Read more...] about Greece wants to be transshipment hub for Vietnam goods to EU

The United Nations Development Programme (UNDP) last week again warned that the ocean is faced with increasing threats and multiple risks posed by climate change, natural disasters, environmental pollution, over-exploitation of natural resources, and unsustainable economic activities. “Global warming and marine litter are threatening marine resources, including widespread bleaching of coral reefs. Globally, an estimated 8-20 million tonnes of plastic enter the ocean every year. In Vietnam, around 2,000 tonnes of plastic waste leaks from the country into the ocean every day. It is estimated that there will be more plastic than fish in the ocean by 2050,” said Caitlin Wiesen, resident representative in Vietnam of the UNDP. The global ocean economy contributes an estimated $3 trillion per year, or about 5 per cent of the world’s GDP and comprises industries ranging from oil and gas, shipping and ports to renewable energy, fisheries, marine ecosystems and tourism. The value of the … [Read more...] about Blue economy model gathering pace

Prime Minister Phạm Minh Chính on May 15 (US time) had meetings in New York with John McAuliff (right) and a group of Americans who supported and advocated for victims of Agent Orange in Việt Nam. — VNA/VNS Photo NEW YORK — Prime Minister Phạm Minh Chính on May 15 (US time) held meetings with American friends who have stood by Việt Nam and its people as part of his working visit to the US. In the meeting with John McAuliff and a group of Americans who have helped support Vietnamese victims of Agent Orange/dioxin, PM Chính said other than looking to future possibilities of bilateral cooperation, the Vietnamese delegation also discussed with the US side the handling of war consequences that still haunt Việt Nam to this day. There are still three million people suffering from the impacts of Agent Orange, not to mention the risks of continuing diseases and deformities afflicting future generations and the millions of hectares of contaminated land, he said. Up to 200,000 Vietnamese … [Read more...] about PM meets with friends of Việt Nam in the US

PM Pham Minh Chinh meets the American friends who support Vietnam's victims of Agent Orange /dioxin in New York on May 15. (Photo: VNA) New York (VNA) - Prime Minister Pham Minh Chinh on May 15 (US time) had meetings with American friends who have stood by Vietnam and its people as part of his working visit to the US. In the meeting with John McAuliff and group of US who have helped support Vietnamese victims of Agent Orange/ dioxin , PM Chinh said other than future-looking items of bilateral cooperation, the Vietnamese delegation has also discussed with the US side on the handling of war consequences that still haunt Vietnam to this day. There are still three million people suffering from the impacts of Agent Orange, not to even mention the risks of continuing diseases and deformities afflicting future generations, the millions of hectares of contaminated lands, he said. As many as 200,000 Vietnamese martyrs have still not been found, while unexploded bombs and … [Read more...] about PM has meetings with friends of Vietnam in US

In the meeting with John McAuliff and group of U.S. who have helped support Vietnamese victims of Agent Orange/dioxin, PM Chinh said other than future-looking items of bilateral cooperation, the Vietnamese delegation has also discussed with the U.S. side on the handling of war consequences that still haunt Vietnam to this day. There are still three million people suffering from the impacts of Agent Orange, not to even mention the risks of continuing diseases and deformities afflicting future generations, the millions of hectares of contaminated lands, he said. As many as 200,000 Vietnamese martyrs have still not been found, while unexploded bombs and mines continue to threaten the safety and livelihoods of many Vietnamese people. The Vietnamese Government leader expressed gratitude for McAuliff and American friends who have supported Vietnamese victims of Agent Orange and assisted Vietnam in handling war consequences. For his part, McAuliff thanked PM Pham Minh Chinh in … [Read more...] about PM had meetings with friends of Vietnam in U.S.

Because of strict visa policies, promotions to attract international tourists have not been as effective as expected, according to many businesses. Enterprises have made huge investments to welcome back tourists, but such illogical visa policies may slow down the tourism recovery pace. Being confused and facing difficulties Many travel companies in Da Nang City told Tuoi Tre (Youth) newspaper that visa policies for foreign tourists were still their biggest concern. Before the COVID-19 outbreak, Vietnam offered the visa waiver policy for citizens of many countries and the normal visa approval period was three to five days (visas which were valid for 30 days). However, the list of countries whose citizens are entitled to Vietnam’s visa waiver policy has been shortened and the visa processing period has been lengthened, putting enterprises at a disadvantage. Cao Tri Dung, chairman of the Da Nang Tourism Association, said that after the COVID-19 pandemic, the number of … [Read more...] about Strict visa policies hinder international guests from visiting Vietnam

Illustrative image (Photo: VNA) It is forecast oil prices may skyrocket to nearly $110 per barrel at the year’s end if major risks now continue lingering in the global market. By late last week, the global average price of Brent crude oil and WTI crude oil hovered at $103.77 and $106.47 per barrel, respectively. The global price of natural gas also stood at $7 per MMBtu, according to Oilprice.com. Fears of an economic slowdown are bleeding into the oil market, and oil demand is being threatened by extended lockdowns in China, inflation-driven interest rate hikes, and fears of Europe potentially dropping into recession if the Russia-Ukraine war continues to escalate. According to the Ministry of Industry and Trade (MoIT), a hike in oil prices in Vietnam is beneficial for oil and gas firms. The country’s revenues collected from crude oil exports in April is estimated to be VND6.6 trillion ($287 million), raising the amount to VND24.1 trillion ($1.04 billion) in the first four … [Read more...] about Soaring petrol price impacting multitude of industries