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Hanoi plans to create five to ten industrial clusters this year. Hanoi's authorities broke ground for the construction of the Phu Yen craft village industrial cluster in Phu Xuyen District on March 30. The groundbreaking ceremony of the Phu Yen craft village industrial cluster project. Photo: Hanoimoi Newspaper The Phu Yen artisan village industrial cluster in Gie Ha Village, Phu Yen Commune, covers 10.5ha and was funded by Chi Cuong Construction Investment Consultant Joint Stock Company for VND200.3 billion (US$8.5 million). Speaking at the groundbreaking ceremony, Nguyen Xuan Thanh, Secretary of the Phu Xuyen District Party Committee, stated that the industrial cluster's establishment aims to relocate local production facilities in the fields of leather and footwear, garment, lacquer, services for industrial clusters, and other industries away from residential areas, thereby reducing the environmental pollution. According to Nguyen Manh Quyen, Vice … [Read more...] about Hanoi begins work on Phu Yen craft village industrial cluster

The plan's implementation seeks to capitalize on Hanoi's import-export advantages and promote the city's socioeconomic development toward green growth and rapid and sustainable progress. Hanoi aims to sustain an annual export growth rate of 4.4-5% between 2023 and 2025 and 5.1-5.5% between 2023 and 2030. Electronics production at Channel Well Technology Vietnam at Quang Minh Industrial Park, Hanoi. Photo: Pham Hung/The Hanoi Times The goals were included in the action plan to achieve Hanoi's import-export strategy until 2030, which was signed off on March 30 by Vice Chairman of the municipal People's Committee Nguyen Manh Quyen. The implementation of this plan seeks to leverage Hanoi's import-export advantages and support its socioeconomic development toward green growth, rapid and sustainable progress, and a stable growth rate in import-export activities. The emphasis is on the direct export promotion of key and advantageous city goods and attracting … [Read more...] about Hanoi targets annual export growth of 5.5% until 2030

On March 31, the event occurred adjacent to the Hanoi Cooperative Alliance's headquarters in Van Quan Ward, Ha Dong District. More than 100 cooperative groups of cooperative alliances from Hanoi and provinces all over the country participated in a week-long fair promoting the sale of farm produce and handicrafts recognized by the One Commune One Product (OCOP) program to showcase their products and agricultural models linked to eco-tourism. Hanoi's authorities attend the opening ceremony of the event. Photo: Trong Tung/ The Hanoi Times Do Huy Chien, the chairman of the Hanoi Cooperative Alliance, stated that the week-long fair aims to promote farm goods, processed foods, and OCOP items related to rural and agricultural sectors and traditional craft villages from Hanoi and other areas. "The event is also intended to link tourism promotion activities between the city and localities throughout the country, contributing to increasing the brand value of … [Read more...] about Hanoi hosts a week-long exhibition showcasing OCOP farm products

Vietnamese steel industry calling for wider investment from overseas entities, photo Le Toan Posco Yamato Vina Steel JSC, a joint venture between South Korea’s Pohang Iron and Steel Company and Japan’s Yamato Holdings, is contemplating constructing a second facility in Vietnam. Lee Youngwoo, general manager of Posco Yamato Vina, wants to “establish a robust sales network” across Vietnam while enhancing scrap supply security. In 2020, Posco Yamato Vina was the first to manufacture wide H-shaped steel in Vietnam. According to Lee, the business built a representative office in Haiphong last year in order to “create additional prospects for collaboration” with clients. In the southern province of Ba Ria-Vung Tau, Posco Yamato Vina operates a steel mill with a capacity of one million metric tonnes per year and produces section steel with a capacity of 500,000 tonnes per year. Following a lack of foreign investment in steel manufacturing in recent years, many observers see Posco … [Read more...] about Vietnamese steel industry calling for wider investment from overseas entities

Minister of Industry and Trade Nguyen Hong Dien and the Vietnamese delegation at the meeting. (Photo: MoIT) Hanoi (VNA) – Representatives from member nations of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the UK approved a joint statement at the ministerial level on the substantial conclusion of negotiations on the UK's accession to the CPTPP at their virtual meeting on March 31 (Vietnam time). The meeting was chaired by Japanese Minister of Economy, Trade and Industry (METI) Shigeyuki Goto, who is also chairman of the UK’s Accession Working Group (AWG), and drew the attendance of ministers and representatives of the CPTPP members - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam - and the UK. The participants confirmed that the UK has provided commercially meaningful market access offers of the highest standard on goods, services, investment, financial services, government … [Read more...] about Joint statement on conclusion of negotiations on UK’s CPTPP accession issued

Phuong Mai Peninsula in Quy Nhon city, Binh Dinh province, is believed to boast potential for tourism development. (Photo: thanhnien.vn) Binh Dinh (VNA) – The Tourism Association of Binh Dinh province signed a cooperation agreement with its counterparts of eight localities in the coastal northern and north central regions on March 29 in efforts to establish Binh Dinh as a leading destination in Vietnam and the region. Under this agreement, the tourism associations of Hai Phong city and the provinces of Thai Binh, Nam Dinh, Thanh Hoa, Hai Duong, Quang Ninh, Ninh Binh, and Quang Binh will give advice and assist Binh Dinh to build and implement tourism promotion plans. In particular, travel companies in the eight localities will help develop images of Binh Dinh as an attractive destination, support local tourism units to take part in fairs and exhibitions, and popularise tourism via travel correspondents’ clubs and promotion events. The agreement signing ceremony between the … [Read more...] about Binh Dinh partners with eight localities in tourism development

An art performance at the ceremony (Photo: VNA) HCM City (VNA) – The People’s Committee of Ho Chi Minh City organised a ceremony on March 23 to celebrate the 50th anniversary of the diplomatic ties between Vietnam and Italy (March 23, 1973-2023). In his remarks, Chairman of the People’s Committee Phan Van Mai highlighted the increasingly close ties between the two countries, saying over the past 50 years, the bilateral relationship has grown actively across spheres, both bilaterally and multilaterally. The good traditional friendship has also been consolidated and enhanced, the official added. Notably, during the COVID-19 pandemic, Vietnam presented Italy with more than 300,000 masks, while Italy donated 2.8 million doses of vaccines to the Southeast Asian nation. This vividly demonstrates the intensive and effective strategic partnership and friendship between the two countries, he said. HCM City, for its part, has actively worked to promote cooperation with … [Read more...] about 50th anniversary of Vietnam-Italy diplomatic ties celebrated in HCM City

Illustrative image (Source: AFP/VNA) Bangkok (VNA) – Thailand’s Commerce Ministry has projected the country's export sector to gradually recover in the latter part of the year. The rebound of the service and tourism sectors should also boost demand from trading partners , the ministry said. However, global economic uncertainty and an inflationary environment will inevitably affect Thai exports in the first half of the year. Thai outbound shipments are expected to contract in the first and second quarters, as importers still maintain large stockpiles, said Phusit Ratanakul Sereroengrit, director-general of the International Trade Promotion Department . The ministry reported on March 30 the customs-cleared value of exports dipped for the fifth month in a row in February, falling 4.7% year-on-year to 22.4 billion USD while imports increased by 1.1% to 23.5 billion USD, resulting in a trade deficit of 1.11 billion USD. For the first two months of 2023, Thai … [Read more...] about Thailand’s export expected to recover in H2 of 2023

Participants at the talks (Photo: VNA) Lang Son (VNA) – Secretary of the Party Committee of Lang Son province Nguyen Quoc Doan held talks with Liu Ning, Secretary of the Party Committee of China's Guangxi Zhuang Autonomous Region, in Lang Son city on March 30, during which they discussed measures to further expand border trade cooperation. The two sides positively evaluated the close high-level relationship between the two Parties and States, as well as between Lang Son and Guangxi, which has been increasingly strengthened and nurtured. They also discussed measures to promote the potential and strengths, and step up cross-border trade. Liu said he hopes the two countries will continue to strengthen strategic development and connection and deepen practical cooperation in various fields, thus strongly promoting the partnership and comprehensive strategic cooperation in the new era. The Chinese official said Guangxi is currently implementing measures to promote the … [Read more...] about Vietnamese, Chinese localities eye stronger border trade

At a press conference on March 30 to report the collection of State budget in the first quarter of 2023 (Photo: VNA) Hanoi (VNA) - State budget revenue reached an estimated 491.5 trillion VND (over 20.9 billion USD) in the first quarter of 2023, equivalent to 30.3% of the estimate, and up 1.3% from the same period last year, the Ministry of Finance reported on March 30. Twenty-eight of the 63 provinces and centrally-run cities nationwide recorded state budget revenue hitting 28% of their yearly estimates. Twenty-three provinces and centrally-run cities saw the higher revenues than in the same period of 2022, while 40 others reported lower revenues. Meanwhile, the accumulated expenditure in the first quarter was equivalent to 17.5%  of the yearly estimate. The Ministry of Finance said expenditures in the last three months were carried out as planned, meeting requirements for socio-economic development, defence, security safeguarding, state management, debt repayment, and … [Read more...] about State budget revenue up 1.3% in Q1