How are micro and macro economics related

Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn (Photo: AP) Phnom Penh (VNA) - The 55th ASEAN Foreign Ministers' Meeting ( AMM-55 ) and related meetings have successfully concluded, with some 30 documents on regional cooperation adopted, Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn said on August 6. "We have reviewed the progress made thus far to strengthen ASEAN's community building, advance regional integration, and enhance our cooperation with external partners," he told a press conference. The official said that over the course of three and a half days, 19 meetings were held back-to-back, with the participation of foreign ministers and representatives from 38 countries. On the COVID-19 pandemic, he said the ASEAN foreign ministers encouraged the effective operationalisation of the ASEAN Regional Reserve of Medical Supplies for Public Health Emergencies. He added that the ministers also stressed the need to strengthen supply … [Read more...] about Cambodia announces outcomes of AMM-55 and related meetings

As Vietnam steps into the post-pandemic era, experiences and learnings from the pandemic serve as a reminder of the importance of digital transformation and its crucial technology component. Eunjung Han, consultant at Rouse Legal Vietnam and vice chair of the Digital Sector Committee of the European Chamber of Commerce in Vietnam Despite COVID-19’s negative economic and social impact, Vietnam remains an attractive destination to European investors. According to the European Chamber of Commerce (EuroCham) 2021 White Book, Vietnam’s stable macro-economic climate, with inflation in the single digits, continues to increase investor confidence in the country’s trade and investment environment. Only adding to that, the EU-Vietnam Free Trade Agreement (EVFTA) is paving the way for continued foreign direct investment (FDI) from the EU and is viewed as a means for shared recovery and economic rebound. As the first comprehensive FTA between the EU and a developing country in … [Read more...] about EVFTA underpinning growth in Vietnamese tech market

Thanh Cong Textile Garment Investment Trading JSC exported over one-third of its products to the United States in 2021. However, the company started to face challenges following the US’ blanket ban on all Xinjiang cotton. Last year, President Joe Biden signed into law the Uyghur Forced Labor Prevention Act. Vietnam’s cotton imports reach up to one million tonnes each year, Photo: Shutterstock Tran Nhu Tung, chairman of the company, said that the company has adopted regulations this year related to this act. Accordingly, buyers have to be responsible for export orders to the US which source Chinese cotton materials. Thanh Cong secures many large orders from the US. In 2022, the company sets a target to generate $179 million in revenues and $10.87 million in profit, up 120 per cent and 188 per cent respectively against last year. Tung noted that yarn exports are the main driving force for Thanh Cong. “There is a rapidly growing demand for yarn imports in the global … [Read more...] about Demand for cotton forces adjustments

A trader observing the market's movements on his computer. — Photo baodautu.vn After hitting a bottom of around 1,140 points in early July, the stock market had recovered for four straight sessions, with the benchmark VN-Index surpassing the threshold of 1,250 points. Notably, liquidity improved significantly last week and has now exceeded the recent 20-week average. This marked the second week of such an increase, showing that investors' interest is improving. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index ended the week at 1,252.74 points, down 0.11 per cent. Meanwhile, the HNX-Index on the Ha Noi Stock Exchange (HNX) closed higher, up 0.73 per cent to 299.9 points. For the week, the VN-Index rose by 3.85 per cent and the HNX-Index was up 3.91 per cent. Trading value on HOSE increased by 39.2 per cent from the previous week to VND83.1 trillion (US$3.5 billion), equivalent to a gain of 47 per cent in volume to more than 3.5 billion shares. On the northern bourse, … [Read more...] about Investors’ risk appetite continues to improve this week

Granting an interview to the Vietnam News Agency (VNA)'s correspondents in Laos on the occasion of the Association of Southeast Asian Nations (ASEAN)’s 55th founding anniversary (August 8), Saleumasay said that Vietnam joined ASEAN in 1995, and two years later, Laos also became a member of the group. Since then, the two countries have become active members, making important contribution to the bloc's policy and vision making. Regarding the building of the ASEAN Economic Community, he said that Vietnam is a major country and plays an important role in the region, and has relations with many countries, especially great powers, which is also its direct contribution to the ASEAN Economic Community’s important role in the region and the world as well. Since their admission to ASEAN, Vietnam has assumed the role as ASEAN Chair thrice, while Laos will take on the position for the third time in 2024. During these times, both Laos and Vietnam have stressed the central leadership role of … [Read more...] about Vietnam, Laos contribute greatly to ASEAN Community building: Lao Deputy PM

The construction of a Vietnam welcome gate on an overseas Vietnamese road in Nong Khai province, northeastern Thailand, has begun. (Photo: VNA) Bangkok (VNA) – The construction of a Vietnam welcome gate on an overseas Vietnamese road in Nong Khai province, northeastern Thailand, has begun. A ground-breaking ceremony of the work was held on August 6 by the Vietnamese Consulate General in Khon Kaen in collaboration with the Nong Khai authorities, the Vietnamese Association and overseas Vietnamese organisations in Thailand. This activity aims to celebrate the 46th anniversary of the establishment of Vietnam-Thailand diplomatic relations (1976-2022). Addressing the event, Consul General Chu Duc Dung said the construction of the welcome gate is evidence for the traditional ties, solidarity and friendship between Vietnam and Thailand. He expressed his wish that Thai people of Vietnamese origin in Thailand in general and Nong Khai province in particular continue to serve … [Read more...] about Work starts on welcome gate on overseas Vietnamese road in Thailand