Mutual

The Consulate General of India in Ho Chi Minh City will team up with the Vietnam Yoga Federation to roll out the 2023 International Yoga Day in 22 provinces and cities in Vietnam’s southern region at the end of June. This edition will be the biggest ever since the yoga fest was first launched in the Southeast Asian nation in 2015, Consul General of India in Ho Chi Minh City Madan Mohan Sethi told a press briefing on Tuesday. The yoga event is part of a wide range of cultural exchange, tourism, trade, and investment promotion events to mark 50 years of diplomatic ties between Vietnam and India, said the consul general. Speaking at the press conference, Sethi affirmed that Vietnam plays an important role in India’s Act East Policy, an effort by the Indian government to cultivate extensive economic and strategic relations with Southeast Asia. India strongly believes in Vietnam’s support, he added. “Both India and Vietnam see mutual respect and trust as the pivot of long-lasting … [Read more...] about Int’l Yoga Day to take place in 22 localities across Vietnam in late June

Factors potentially triggering the turmoil include monetary tightening, weak economic conditions, mismanagement, loss of confidence, maturity and currency mismatches, as well as instances of outright fraud and criminal activities. Most banks are resilient and avoid such difficulties -- but not all. Consequently, financial authorities must maintain preparedness to intervene whenever necessary, all while avoiding unintended consequences that could potentially sow the seeds of future banking crises. Global banking stress The current banking turmoil is largely due to the cycle of monetary tightening. Since early 2022, central banks have been quick to increase interest rates to bring inflation under control. In the United States, the effective Fed Funds rate increased by 500 basis points in just 14 months, a speed never observed since 1988. The European Central Bank has raised its policy rates by 400 basis points since mid-2022 and indicated that more rate hikes are forthcoming. … [Read more...] about Preparedness crucial in safeguarding banking sector

How do you assess the potential of the supporting industry in Vietnam? Jun-Ho Lee, deputy director of the Vietnam-Korea Technology Consulting and Solution Centre (VITASK) Vietnam’s supporting industry sector has a large room for growth because the Vietnamese electronics industry has a fairly large position as one of the top 15 largest electronics exporting countries in the world. Besides that, this sector leads in the total import and export turnover of all industries in Vietnam. A report from the Department of Industry under the Ministry of Industry and Trade (MoIT) shows that in 2022, the electronics industry had an export turnover of $114.4 billion, an increase of about 6 per cent on-year, and accounting for over 30 per cent of the total export turnover of the whole country. Among the six groups of goods with export turnover of over $10 billion in Vietnam, there are also computers, mobile phones, electronics, and components. The export market of Vietnam’s … [Read more...] about Enhancing competition capacity of nation’s supporting industries

Vangelis Vitalis - New Zealand’s Deputy Secretary of Foreign Affairs and Trade What was achieved at the eighth meeting of the Vietnam-New Zealand Economic and Trade Committee? Vietnamese Deputy Minister of Industry and Trade Phan Thi Thang and I focused on practical things that will benefit our businesses, and also benefit New Zealanders and Vietnamese on both sides, because of the way in which we can support trade flows. We discussed some of the customs procedures on both sides that would make it easier for our companies to export to one another. We also discussed the need to have electronic certification and to set up a process by which we could audit each other’s horticulture sectors, which our two leaders say are essential. For example, when they agreed on the export of Vietnamese limes and pomelo to New Zealand, we were able to send squash and strawberries to Vietnam. Besides that, we agreed to increase work together to find ways to facilitate more of this kind of … [Read more...] about New Zealand and Vietnam offering trade solutions

Vietnam and Israel on April 2 announce the conclusion of negotiations for their free trade agreement (FTA). (Photo: VNA) Hanoi (VNA) – The Embassy of Israel in Vietnam held a ceremony in Hanoi on May 30 to celebrate Israel’s 75th Independence Day (1948-2023) and the 30th anniversary of the bilateral diplomatic ties (1993-2023). In his remarks, Ambassador Yaron Mayer noted that the Vietnam-Israel relations are developing strongly in economy and technology, saying high-level visits and cultural exchanges have consolidated the two countries' friendship and enhanced their mutual understanding, as well as people-to-people dialogue. He added that the bilateral trade has exceeded 2 billion USD, and the recent conclusion of negotiations on the Vietnam-Israel Free Trade Agreement (VIFTA) is expected to facilitate their trade and investment collaboration. On behalf of the Vietnamese government and people, Deputy Minister of Foreign Affairs Ha Kim Ngoc extended … [Read more...] about Israel’s 75th Independence Day celebrated in Hanoi

Deputy Minister of Agriculture and Rural Development Nguyen Quoc Tri (L) and Mozambican Deputy Minister of Foreign Affairs and Cooperation Manuel José Gonçalves sign a minutes of the meeting. (Photo: VNA) Pretoria (VNA) – The 4th meeting of the Vietnam – Mozambique Intergovernmental Committee on Economic, Culture and Scientific-Technological Cooperation, took place in Maputo capital city of Mozambique on May 30, under the co-chair of Deputy Minister of Agriculture and Rural Development Nguyen Quoc Tri and Mozambican Deputy Minister of Foreign Affairs and Cooperation Manuel José Gonçalves. Organised after nearly 10 years of interruption due to various reasons, especially the COVID-19 pandemic, the meeting holds great significance in the context of the bilateral cooperation between the two countries, which has spanned 48 years since the establishment of diplomatic relations in 1975. Gonçalves emphasised the importance of enhancing high-level meetings and visits between the … [Read more...] about Huge potential for Vietnam – Mozambique cooperation: official

At the reception at the Vietnamese Defense Ministry’s headquarter, Gen. San underlined the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos, which are preserved and promoted by the two countries’ senior leaders, two defense ministries, and two peoples. He highly appreciated the bilateral defense ties over the past time, saying that it has been implemented practically and effectively in terms of training, exchange of delegations. He also highlighted the effective maintenance of the consultation and dialogue mechanisms. For his part, Lt. Gen. Khamphet Sisanone informed the host of the outcomes of his talks with his Vietnamese counterpart Lt. Gen. Tran Duy Giang, during which they reached agreement to promote cooperation in training, military medicine, sharing experience in economic development. The Lao general conveyed the regards of General Chansamone Chanyalath, Deputy Prime Minister and Defense Minister of Laos, to Vietnamese Defense … [Read more...] about Vietnamese, Lao militaries strengthen cooperation in logistics

VIFA President Tran Minh Hung speaks at the event. (Photo: vov.vn) Hanoi (VNA) – The Indonesian Embassy in Vietnam and the Vietnam-Indonesia Friendship Association (VIFA) held an event in Hanoi on May 31 to introduce Indonesia ’s traditional fabric dyeing technique called Batik. Considered one of the cultural symbols of Indonesia, Batik is a traditional wax-resist dyeing and printing technique on fabric. Several historical records trace the origin of Batik back to the Srivijaya empire in Indonesia through trade activities with the Tang Dynasty of China. On October 2, 2009, Batik was recognised by UNESCO as an Intangible Cultural Heritage of Humanity, and Indonesia also designated the day as National Batik Day . Speaking at the opening ceremony, VIFA President Tran Minh Hung said the event was part of cultural exchange activities to enhance mutual understanding between the two countries' people on the occasion of the 10th anniversary of the Vietnam-Indonesia … [Read more...] about Indonesia’s Batik technique introduced in Hanoi