Illicit trade

The office said that the major products Vietnam shipped to Laos included petrol, vegetables, fertilizers, clinker and cement, electric wires and cables, paper and paper products, ceramics, and garment products. Meanwhile, Vietnam mostly imported from Laos fertilizers, rubber, wood and furniture, ore and other minerals. In July alone, two-way trade hit USD 125 million, a surge of 54.1% year on year, including Vietnam’s export revenue of nearly USD 53.2 million, up 33.9%. This was the third consecutive month that Vietnam enjoyed an increase in exports to Laos, helping reduce the fall in the turnover to minus 1.6% from minus 6% in the first half of this year. In August, Vietnam expects continuous rise in exports to Laos thanks to the stable conditions of the Lao economy, the reduction in petrol prices in the world and the rising number of Vietnamese investors in Laos. Source: VNA … [Read more...] about Vietnam, Laos enjoy 24.2% rise in two-way trade in 7 months

Product quarantine Nguyen Thi Thu Huong, Deputy Director of the Ministry of Agriculture and Rural Development’s (MARD) Plant Protection Department said China’s General Administration of Customs (GACC) had approved imports of Vietnamese passion fruit through seven border crossings in China’s Guangxi Province, including Huu Nghi Quan, Po Chai, Pingxiang Railway Station, Pingxiang, Dongxing, Long Bang, and Shuikou. A series of activities have been planned to promote the speedy export of passion fruit to China The two sides will assess the results of the pilot project and decide whether to sign an official protocol on plant quarantine for Vietnamese passion fruit imported into China, contributing to the development of trade between the two countries. About 6,000 hectares of passion fruit are being grown in Vietnam’s 46 cities and provinces, providing an annual output of more than 111,000 tonnes, with an average yield of 22.67 tonnes per hectare. The cultivation area … [Read more...] about Vietnam pilots passion fruit exports to China

Kuala Lumpur capital of Malaysia (Illustrative photo: themalaysianreserve) Kuala Lumpur (VNA) – Malaysia recorded 836.2 billion RM (over 188.1 billion USD) in foreign direct investment (FDI) at the end of the second quarter, up 24.1 billion RM from Q1, according to the Department of Statistics Malaysia. The manufacturing sector remained the largest recipient with a value of 360 billion RM or 43.1%, followed by financial activities 189.8 billion RM (22.7%) and wholesale and retail trade 53 billion RM (6.3%). Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the FDI sources were largely from Asia, which amounted to 431.1 billion RM or 51.6%, mainly from Singapore and Hong Kong (China), followed by Europe and the Americas. Singapore was still the biggest source of FDI, with an accumulated 174.1 billion RM (20.8%), followed by Hong Kong with 91.1 billion RM (10.9%), the United States 90 billion RM (10.8%) and Japan 84.2 billion RM (10.3%). Meanwhile, … [Read more...] about FDI flows into Malaysia top 188 billion USD in Q2

Phnom Penh (VNA) – Cambodia has seen a significant rise in both drug arrests and seizures during the first seven months of 2022, the Anti-Drug Police Department (ADP) reported on August 13. Cambodia n authorities apprehended 9,151 drug related suspects during the January-July period this year, up 16% from 7,876 in the same period last year, it said, adding that about 3.27 tonnes of illicit drugs had been seized, up almost 240% from 963 kg. The seized drugs included heroin, ecstasy, cocaine, crystal methamphetamine, methamphetamine pills, cathinone and ketamine, among others. Additionally, about 201 tonnes of drug ingredients, 17 pistols, 31 rifles and many vehicles and devices had been confiscated from the suspects. Cambodian Prime Minister Samdech Techo Hun Sen has called for concerted efforts to combat illegal drugs, saying that fighting against illicit drugs is a priority. The Southeast Asian nation has no death sentence for drug traffickers. Under its law, anyone … [Read more...] about Cambodia arrests over 9,100 drug suspects in seven months

In 1992, when the agreement between Vietnam and the former Soviet Union became invalid, with permission by the Vietnamese and Russian Governments, the Mausoleum Management Board and VILAR switched to direct cooperation in preserving the body of the President. Addressing the conference, PM Chinh said when President Ho Chi Minh passed away in 1969 at the age of 79, with the endless love and gratitude for the leader and to realize the strong aspiration of the entire Party, military and people, the Politburo and the Party Central Committee decided to preserve his corpse in the long term and to build a mausoleum so that his reputation, great career, and enormous devotion would exist forever in the heart and mind of every Vietnamese people and become an everlasting symbol of the national solidarity and unity. Braving the fierce war, experts from the Soviet Union worked side by side with Vietnam’s military officers and soldiers to make tireless efforts to surmount every hardship to … [Read more...] about PM appreciates Russia’s help with preservation of President Ho Chi Minh’s body

During a meeting with the German official on August 11, Ambassador Minh highlighted the fruitful development of the friendship between Vietnam and Saxony state in recent years, expressing the gratitude to the government of Saxony state for promoting the friendship and cooperation between Vietnam and Germany in general and Saxony in particular. The diplomat suggested the state government considers promoting the signing of a Memorandum of Understanding (MoU) between the Vietnamese Ministry of Labor, Invalids and Social Affairs and the state’s Ministry of Economic Affairs, thus creating a favorable framework for recruiting more Vietnamese skilled workers for German enterprises. For his part, Kretschmer said the collaboration between Saxony and Vietnam has been developing positively in recent years, adding that the Vietnamese community here has made important contribution to the cultural diversity of the state. As President of the association of public universities in Saxony, … [Read more...] about Vietnam beefs up ties with Germany’s Saxony state

PM Pham Minh Chinh speaks at the conference in Hanoi on August 14. (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh on August 14 attended a conference reviewing the 30-year cooperation between the President Ho Chi Minh Mausoleum Management Board and the All-Russian Scientific Research Institute of Medicinal and Aromatic Plants (VILAR) in preserving the corpse of the late Vietnamese leader. In 1992, when the agreement between Vietnam and the former Soviet Union became invalid, with permission by the Vietnamese and Russian Governments, the Mausoleum Management Board and VILAR switched to direct cooperation in preserving the corpse of the President. Addressing the conference, PM Chinh said when President Ho Chi Minh passed away in 1969 at the age of 79, with the endless love and gratitude for the leader and to realise the strong aspiration of the entire Party, army and people, the Politburo and the Party Central Committee decided to preserve his corpse in the long … [Read more...] about PM appreciates Russia’s help with preservation of President Ho Chi Minh’s corpse

Construction priorities are for sections Hanoi – Vinh and Nha Trang – Ho Chi Minh City. The Politburo, the country’s supreme decision-making body, is set to discuss the investment plan for the North-South express railway project in September. The project is set to be completed by 2050. Photo: Lam Anh A feasibility study conducted by the Ministry of Transport (MoT) suggested constructing a new electrified 1,435mm double-track express railway on the North-South axis with a total length of 1,545 kilometers. The high-speed rail route will be operated by an electric multiple units (EMU) train with an average speed of 320 kilometers per hour. The MoT estimated the total investment capital to be around US$58.71 billion, in which $1.98 billion would be allocated for site clearance, $31.58 billion for construction cost, $15 billion for equipment and project management, and nearly $10 billion for contingency and other expenses. To ensure the effective … [Read more...] about Politburo to review US$59-billion North-South express railway in September

Nam Hai Dinh Vu Port in Hai Phong City. (Photo: VNA) This is one of the factors that make the demand for logistics real estate increase sharply, it said. A survey by Savills Vietnam showed that Vietnam's logistics industry is enjoying significant growth due to the development of the national economy, and the manufacturing and e-commerce sectors. According to a report on the emerging market logistics index released earlier this year by Agility, a leading logistics and transportation service provider in 2022, Vietnam ranks 11th among the world’s top 50 emerging markets, only behind Indonesia, Malaysia and Thailand in the Association of Southeast Asia Nations. Vietnam's transport and logistics market is estimated to grow at a compound annual growth rate (CAGR) of 7 percent in the 2021-2026 period. The Vietnamese government encourages enterprises manufacturing and attracts investment by establishing industrial and economic zones. Despite challenges from the Covid-19 pandemic, … [Read more...] about Demand for logistics real estate increases sharply: Savills Vietnam

The event aims to boost cultural exchange and step up cooperation in trade, investment, education, information technology, tourism and healthcare between the two countries. Addressing the August 13 opening ceremony in HCM City, Indian Ambassador to Vietnam Pranay Verma said the cultural festival was first scheduled for the beginning of this year on the occasion of the 50th anniversary of the two countries’ diplomatic ties (January 1, 1972 - 2022) but had to postpone due to COVID-19. India wants to promote three key elements during this festival: Trade, Connectivity and Culture, the diplomat said. It is also part of India’s Look East Policy in which Vietnam holds a very important position, he emphasized, noting that the festival plays a significant part in enhancing connectivity and cultural exchange, and beef up trade and investment between the two sides. In his remarks, Director of the municipal Department of External Affairs Tran Phuoc Anh said he believes the event will be a … [Read more...] about Indian cultural festival underway in HCM City, Nha Trang