Ministry of international trade

Speakers at the Viet Nam–UK Business Forum, which took place in London on Wednesday. — VNA/VNS Photo Viet Nam wants to see more investment from the United Kingdom (UK) in hi-tech agriculture, in cultivation, processing, preservation and distribution of farm produce and foods, said Deputy Minister of Agriculture and Rural Development Phung Duc Tien. He made the statement at the Viet Nam–UK Business Forum held by the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development, in collaboration of the UK Department of International Trade (DIT) in London on Wednesday. The forum discussed prospects for trade and investment between the two countries’ enterprises in agriculture, education, renewable energy and others. It also provided a platform for Viet Nam to introduce its market potential to British investors and for firms from both sides to share information and seek partnerships to make the most of the UK-Viet Nam Free Trade Agreement (UKVTFA). The UK … [Read more...] about Viet Nam, UK strive to lift trade and investment relations

He made the statement when delivering an opening remark at the Vietnam – U.K. Business Forum held by the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development in collaboration of the U.K. Department of International Trade (DIT) in London on May 25. The forum discussed prospects for trade and investment between the two countries’ enterprises in agriculture, education, renewable energy and others. It also provided a platform for Vietnam to introduce its market potential to British investors and for firms from both sides to share information and seek partnerships to make the most of the U.K.-Vietnam Free Trade Agreement (UKVTFA). The U.K. remains a major and trusted partner of Vietnam and its agriculture industry, Tien said, noting that agricultural cooperation between the two nations has made significant progress over recent years. He expected British companies will form close and trusted joint ventures and partnerships with Vietnamese agribusinesses … [Read more...] about Vietnam, U.K. strive to lift trade and investment relations

The regional framework should be in line with international laws and ASEAN Centrality. Vietnam has highlighted the role of international economic initiatives when talking about the Indo-Pacific Economic Framework (IPEF) which was launched by the US three days ago. “Vietnam has joined a number of international economic initiatives that help make the most of domestic and foreign resources, serving the country’s development,” Spokesperson Le Thi Thu Hang of the Ministry of Foreign Affairs (MoFA) said today. Hang made the statement at the press conference on May 26 when talking about Vietnam’s participation in the launch of IPEF through a speech delivered by Prime Minister Pham Minh Chinh. Chinh said the launch of IPEF will kickstart a serious discussion in exchange of ideas towards addressing critical regional and global issues together, issues that no one can address on their own like ones on a global scope – supply chains diversification and resilience, technological … [Read more...] about IPEF should treasure openness, inclusiveness and transparency: foreign ministry

Illustrative photo:SGGP/ Viet Chung The Office of the Ministry of Industry and Trade this morning informed that gasoline, an essential goods, directly affecting the production activities of enterprises as well as people’s livelihoods.  The gasoline price hugely affects the Consumer Price Index (CPI) which impacts the whole country’s macroeconomy. From the beginning of the year up to now, the local and international gasoline markets have been uncertain affecting the fuel supply and prices in the local market. Currently, the whole country has 38 wholesalers of gasoline, 329 gasoline distributors and nearly 17,000 retail gas stations. In order to strengthen state management in the field of gasoline business , prevent violations in petroleum business activities, and support the authorities in regulating the supply and demand of gasoline, it is necessary to apply information technology in updating data for petroleum trading enterprises across the country related to gasoline … [Read more...] about Vietnam puts gasoline database system into operation to avoid violations

The Foreign Ministry's spokesperson Le Thi Thu Hang. (Photo: VNA) Hanoi (VNA) – Vietnam believes that the Indo-Pacific Economic Framework for Prosperity (IPEF) should be based on open, inclusive and transparent principles in line with international law, while ensuring ASEAN's central role and supplementing existing economic links, stated Foreign Ministry spokesperson Le Thi Thu Hang . Hang made the statement while clarifying Vietnam 's stance in joining the discussion process of the IPEF during the Foreign Ministry’s regular press conference in Hanoi on May 26. Hang said that on May 23, Prime Minister Pham Minh Chinh delivered a speech at the launch of the IPEF via videoconference. She said that during the discussions, Vietnam will work with ASEAN members and relevant partners to look deeply into the IPEF’s contents, focusing on trade; supply chains; clean energy, decarbonisation and infrastructure; and taxation and anti-corruption, aiming to have a positive, … [Read more...] about IPEF should be based on open, inclusive, transparent principles: spokesperson

Petrol retail prices in the country have been adjusted many times over the past few months, Photo: Le Toan In Vietnam, gasoline prices continue to increase, and after the adjustment on May 11 by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance, each litre of E5 RON92 petrol increased by 6.5 US cents to $1.26 per litre while RON95 climbed by 6.7 US cents to $1.30 per litre. On May 17, the price of US WTI crude oil remained at a high level of over $114 per barrel while Brent oil maintained its upward momentum at $114.28 per barrel. Before the next adjustment, which was due on May 21, petrol prices in Vietnam were forecast to continue to increase to higher levels. The ministries first adjusted gasoline prices on January 11 due to a decrease in global supply, production output by Kazakhstan and Libya, and oil inventories of the United States. According to Decree No.95/2021/ND-CP, effective from January, there will be three adjustments each month to the … [Read more...] about Vietnam riding the wave of inflationary unpredictability

Hanoi (VNA) - The following is a list of selected news summaries last night by the Vietnam News Agency. Party and State leaders meet with NA ethnic minority deputies (Photo: VNA) - Party and State leaders had a meeting with members of the 15th National Assembly (NA) from ethnic minority groups, on May 25. Read full story - Deputy Prime Minister Pham Binh Minh had meetings with the governors of Kanagawa Prefecture and Gunma Prefecture, Yuji Kuroiwa and Ichita Yamamoto, respectively, on May 25 as part of his ongoing trip to Japan. Read full story - Ambassador Nguyen Hai Bang, Permanent Representatives of Vietnam to ASEAN, has co-chaired the 9th meeting of ASEAN-Korea Joint Cooperation Committee (AKJCC) with the Republic of Korea (RoK)’s Ambassador to ASEAN Kwon Hee-seog. Read full story - Vietnam’s internet economy was valued at about 21 billion USD in 2021, contributing to 5 percent of GDP and rising seven-fold from 2015, heard the Vietnam - Asia Digital … [Read more...] about ☀️ Morning digest on May 26