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S&P forecast Vietnam’s GDP will grow 6.9% in 2022 before settling closer to its long-term trend of growing 6.5%-7% from 2023 onward. S&P Global Ratings on May 26 raised its long-term foreign and local currency sovereign credit ratings on Vietnam to 'BB+' from 'BB'. S&P expects Vietnam's economy to continue its upward trend. Source: S&P The rating agency also affirmed the country’s short-term rating at ‘B’ with a stable outlook. “The stable outlook reflects our expectations that over the next 12-24 months, Vietnam's economy will continue to recover from the challenges posed by the pandemic over the past two years. This will support the external position and rein in fiscal deficits,” it noted. S&P added it could raise the ratings if Vietnam's institutional settings improve considerably, in ways that augment policy predictability and transparency. Such favorable changes in the policy environment could bolster investor confidence in the … [Read more...] about Vietnam’s long-term credit rating upgraded to “BB+”: S&P

AFD will assist the Hanoi government in developing priority programs such as improving air quality, wholesale markets, urban logistics, waste management and treatment, among others. The Agence Française de Développement (AFD) is willing to support Hanoi in transport, urban and environmental projects, Country Director of AFD Fabrice Richy said at a meeting with Chairman of the municipal People's Committee Nguyen Duc Chung in Hanoi on November 25. Fabrice Richy stressed that AFD has maintained a long standing relationship with Hanoi. Under the cooperation agreement, AFD will assist the Hanoi government in developing priority programs such as air quality improvement, wholesale markets, urban logistics, waste management and treatment, among others. Country Director of AFD Fabrice Richy and Chairman of the municipal People's Committee Nguyen Duc Chung. Photo: Thuy Linh The investment program will focus on building smart cities, developing cities sustainable and … [Read more...] about AFD willing to support Hanoi in transport, urban and environment projects

During the meetings, Party General Secretary and President of Laos Thongloun Sisoulith, Prime Minister Phankham Viphavan, National Assembly Chairman Xaysomphone Phomvihane and President of the Lao Front for National Construction Central Committee Xinlavong Khoutphaythoun all spoke highly of the cooperation between the Vietnamese southern hub and Lao capital Vientiane as well as other localities of Laos. They affirmed that the Lao people are always grateful for HCM City’s support for and cooperation with not only Vientiane, Savannakhet and Champasak which have twin relations with the city, but also other Lao localities. The visit of the HCM City delegation will contribute to deepening the great friendship, special solidarity and comprehensive cooperation between the two countries, the Lao leaders said. They expressed a wish that HCM City will continue to share its experience in economic development with Vientiane and other Lao localities. The visiting HCM City official expressed … [Read more...] about Lao leaders appreciate Ho Chi Minh City-Vientiane cooperation

The seminar was one of the activities to mark the 59th anniversary of Africa Day. Speaking at the opening ceremony, IAMES’s Head and VAECA’s President Le Phuoc Minh affirmed that as top research units on Africa of the Government, IAMES and VAECA wanted to cooperate with domestic and international organizations to annually hold Africa Day, considering it an important event to congratulate the African friends on the day as well as to strengthen mutual understanding and relationship between Vietnam and African countries. According to reports at the seminar, over the past 20 years, Vietnam has sent more than 2,000 agriculture experts to help African countries in growing rice and corn and raising fish under tripartite cooperation forms, such as the Food and Agriculture Organization – Africa – Vietnam, International Fund for Agricultural Development – Africa – Vietnam, and Japan International Cooperation Agency– Africa – Vietnam, among others. These cooperation programs have obtained … [Read more...] about Seminar seeks measures to ensure food security and nutrition for people

Vietnam’s biggest conglomerate Vingroup and largest private lender Techcombank have been given the green light to conduct a pre-feasibility study on the Gia Nghia - Chon Thanh expressway. The consortium will have to submit its report by Aug. 31, according to the Ministry of Transport (MoT). Once the report is appraised and approved, the MoT will start a bid to select investors for the expressway, with Vingroup-Techcombank able to participate in the process should they want to. The expressway will stretch 212 kilometers with four-six lanes and a maximum speed of 80-100 kph. It will connect Central Highland Dak Nong and southern Binh Phuoc provinces. Another consortium, led by Deo Ca Corporation, has proposed to invest in two expressway projects in the north, Dong Dang - Tra Linh and Huu Nghi - Lang Son. Workers construct the 98-kilometers Cam Lo - La Son expressway connecting central Quang Tri and Thua Thien Hue provinces, February 2021. Photo by VnExpress/Vo Thanh … [Read more...] about Private firms eager to invest in expressways

The US-protected patents would ensure the firm’s success in the international market. Two new inventions of Viettel Aerospace Institute were granted patents in the US, the Viettel Military Industry and Telecoms Group announced on May 26. The exclusive protection has been granted by the United States Patent and Trademark Office (USPTO) for Viettel’s two inventions in the fields of optoelectronics and materials science. The first is a curved mirror optical system for medium wave thermal imaging devices that was created in 2017, addressing the issue of designing and manufacturing camera cores, thereby minimizing import. The second patent was granted to a method to manufacture composite materials that can withstand high temperatures and harsh conditions for military use. Viettel's engineers are doing research into technology solutions. Photo: Minh Tu Viettel has so far been granted 56 patents in Vietnam and 11 others in the US. According to the … [Read more...] about Vietnamese enterprise receives US exclusive protection for two patents

Bilateral trade recovery According to the Ministry of Industry and Trade, after two years of COVID-19, trade between Vietnam and the UK recovered in 2021, reaching nearly US$6.6 billion. This included more than US$5.7 billion worth of Vietnam’s exports to the UK, an increase of 16.4 percent compared with 2020. Vietnamese goods at a UK supermarket Products with high export growth included fruit and vegetables (up 67 percent); coffee (up 17 percent); pepper (up 49 percent); carpets and products made of bamboo, rattan and sedge (up 56 percent); iron and steel materials (up 1,269 percent); steel products (up 100 percent) and toys and sports equipment (up 19 percent). The value of Vietnam’s imports from the UK reached nearly US$850 million, an increase of 23.6 percent compared with 2020. In the first four months of 2022, Vietnam’s exports to the UK reached an estimated US$4.8 billion with key products including seafood, coffee, pepper, cashew nuts, plastic products, … [Read more...] about Vietnam-UK agreement creates leverage for bilateral trade

Present at the event were VNDPKO Director Major General Hoang Kim Phung, Director of Military Hospital 175 Major General Nguyen Hong Son, the Australian Defense Attaché to Vietnam, representatives of Air Division 370, international delegates, and relatives of the field hospital’s staff. At 01:30 on May 27, the military transport aircraft C-17 Globemaster III of the Royal Australian Air Force carrying the second group of the L2FH Rotation 3’s staff landed at Tan Son Nhat International Airport. Earlier, the first group of the hospital’s members arrived home on April 30. After undergoing a rapid COVID-19 testing, the Vietnamese peacekeepers attended a welcoming ceremony chaired by leaders of the VNDPKO and Military Hospital 175. In a cozy and solemn atmosphere, leaders of units expressed their delight at the L2FH Rotation 3’s significant outcomes, which have contributed to raising the quality of defense external relations and diplomatic activities. Speaking at the welcoming … [Read more...] about Second group of L2FH Rotation 3 arrives home

Senior Lieutenant General Le Huy Vinh, Deputy Minister of National Defense and Head of MND’s Steering Committee for Administrative Reform and e-Government, chaired the event. Reports delivered at the conference revealed that in May, the MND has taken various measures to carry out digital transformation and e-Government development missions. In particular, the ministry connected and exploited national database on population on the MND’s Public Service Portal to simplify and reform administrative procedures to serve the people; provided online public services for 53 administrative procedures on the Public Service Portal; tested providing online public services for military service-related administrative procedures. In the month, agencies and units have maintained sending and receiving electronic documents using digital signatures, promoted the application of information technology and digital transformation to regular activities, ensured safety and information security and … [Read more...] about MND’s e-Government development work reviewed

The Economic Committee of the National Assembly (NA) has recently proposed developing nuclear power over the next decades to ensure national energy security and meet the ‘net zero’ goal Vietnam set at the 26th UN Conference on Climate Change (COP26). Vietnam is likely to develop nuclear power in the coming decades to ensure national energy security and meet COP26 commitments. (Illustrative photo by AFP). Nuclear power proposal Vietnam put the Ninh Thuan 1 & 2 nuclear power plant projects on hold under a NA resolution in 2016 for safety reasons and in order to mobilise resources for other key projects. In a report overseeing the implementation of the resolution, the Economic Committee of the National Assembly suggested that Vietnam consider developing nuclear power over the coming decades, and the Ninh Thuan projects should be reactivated at an appropriate time. It reasoned that nuclear power is a low-carbon source of electricity that will make an … [Read more...] about Vietnam likely to consider nuclear power development