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Illustrative image (Photo: xinhua/VNA) Phnom Penh (VNA) – The Cambodia n Government has been pushing for the establishment of more bilateral free trade agreements (FTAs) with main trade partners in order to expand export markets for its products. The country's Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth said that the United Arab Emirates, India, Japan, Eurasian Economic Union (EAEU), Canada, and American Latin countries are in the plan for bilateral FTA negotiations. Speaking at the Ministry of Commerce’s recent annual meeting, Aun Pornmoniroth asked the ministry to continue boosting the export of goods and service to the existing markets and expanding new markets. The ministry has to conduct extensive consultations with stakeholders on the benefits from the bilateral trade agreements, he added. Currently, Cambodia has two bilateral FTAs with China and the Republic of Korea, which came into force in January and December 2022, … [Read more...] about Cambodia eyes more bilateral free trade agreements

The index closed 12.14 points higher after losing 0.44 points on Friday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 10.97% to VND9.61 trillion ($409.28 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 22 tickers gain. PLX of fuel distributor Petrolimex led with a 4% rise. It was followed by BID of state-owned lender BIDV with a 3.8% increase. POW of electricity producer Petrovietnam Power Corporation went up 3.3%, and VCB of state-owned lender Vietcombank gained 3.2%. Six blue chips fell. VIB of Vietnam International Commercial Bank lost 2.7%, and MWG of electronics retail chain Mobile World was down 1.4%. Foreign investors were net buyers to the tune of VND392.20 billion, mainly buying STB of Ho Chi Minh City-based lender Sacombank and SSI of leading brokerage SSI Securities Corporation. The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 0.38% while the UPCoM-Index at the Unlisted Public … [Read more...] about Last-minute trading boosts VN-Index up

Vietnam's tourism suppliers have won top awards in the categories of unique homestay, community tourism associated with local economic development, qualified public toilets, and best ASEAN spa services. The ASEAN Tourism Awards 2023 ceremony was held on February 5 in Indonesia as part of the ongoing ASEAN Tourism Forum 2023 under the theme "ASEAN: A Journey to Wonderful Destinations". A foreign traveler enjoys buying fruits in Cai Be Floating Market. Photo: Mekong Smiles As a result, two groups of host families, one in the Mekong Delta province of Vinh Long and the other in the northwestern province of Lao Cai, received the ASEAN Homestay Award. The first group consists of six establishments: Ut Thuy, Sau Thanh, Nam Thanh, Nam Thanh, Ba Linh, Ngoc Phuong, and Ngoc Sang, in An Binh District, Vinh Long Province, about 140 km from Ho Chi Minh City. The locality is famous for its islets of fruit orchards. The most prominent tourist attractions are the Cai Be … [Read more...] about ASEAN Tourism Awards 2023 honor 14 businesses of Vietnam

Hanoi aims to maintain macroeconomic stability and control inflation while promoting new growth drivers and enhancing its economic resilience. Hanoi has set a target of 7% year-on-year gross regional domestic product (GRDP) growth by 2023 as part of its action plan for socio-economic development this year. Production at Sunhouse Group in Ngoc Liep Industrial Park, Quoc Oai District. Photo: Thanh Hai This plan includes 22 objectives, such as a GRDP per capita of VND150 million (US$6,400), export growth of 6%, an inflation rate below 4.5%, and a 30% reduction in poverty. The global situation is expected to remain challenging in 2023, and Hanoi aims to maintain macroeconomic stability and control inflation while promoting new growth drivers and enhancing its economic resilience. The plan also emphasized the development of cultural and education fields, disease control, and improving people’s material and spiritual well-being, as well as promoting digital … [Read more...] about Hanoi eyes 7% GRDP growth in 2023

At the reception for Tatsuo Yasunaga, President and CEO of Mitsui & Co Ltd., the Government leader praised the company’s business performance in Vietnam, particularly in processing and distributing of local aquatic products. PM Phuc welcomed a joint project between Mitsui and Minh Phu Seafood Corporation which could push the shrimp export value of the major shrimp farming business in Vietnam to 1 billion USD. Yasunaga informed his host of the success of the joint project, which has seen over 150 million USD invested in improving Minh Phu’s processing, business management and export capacity, adding the sides plan to focus on upgrading refrigeration equipment and expanding export markets, particularly targeting Russia apart from the US. In another meeting with Han Chang-woo, chairman and CEO of Maruhan Corporation, PM Phuc said Vietnam is pressing ahead with effective equitisation of Stated-owned enterprises (SOEs), particularly in transport, infrastructure, construction, … [Read more...] about PM meets with leaders of Japanese conglomerates

Vietnamese Prime Minister Pham Minh Chinh, his spouse, and a high-ranking Vietnamese delegation will pay official visits to Singapore and Brunei Darussalam from February 8 to 11, the Ministry of Foreign Affairs announced on Sunday. The visits will be made at the invitations of Singaporean Prime Minister Lee Hsien Loong and Brunei Darussalam Sultan Haji Hassanal Bolkiah, respectively. This will be PM Chinh’s first visits to these two countries after assuming his prime minister position, and a visit by a Vietnamese prime minister to Singapore after five years and to Brunei Darussalam after 15 years. The visit to Singapore will be paid on the occasion of the 50th anniversary of the diplomatic relations between the two countries and the 10th anniversary of their strategic partnership. The two sides had many high-ranking delegation exchange activities last year, including Vietnamese State President Nguyen Xuan Phuc’s visit to Singapore in February and Singaporean President Halimah … [Read more...] about Vietnamese PM to pay official visits to Singapore, Brunei

Acting President Vo Thi Anh Xuan (R) and Brazilian Ambassador to Vietnam Fernando Apparício da Silva. (Photo: VNA) Hanoi (VNA) – Acting President Vo Thi Anh Xuan has hailed outgoing Brazilian Ambassador to Vietnam Fernando Apparício da Silva ’s contributions to consolidating the practical and effective development of Vietnam-Brazil comprehensive partnership during his tenure. During a reception for the diplomat in Hanoi on February 6, Xuan affirmed that Vietnam always wishes to further strengthen its ties with Brazil, one of the top important partners in Latin America. She suggested both nations continue facilitating the exchange of delegations at all levels, especially those at the high level to boost the bilateral relationship.  Vietnamese leaders also wished to welcome Brazilian President Luiz Inacio Lula da Silva to visit Vietnam soon, Xuan said. Speaking highly of the development of bilateral economic and trade ties, Xuan expressed her hope that the two … [Read more...] about Acting President receives outgoing Brazilian Ambassador

Prime Minister Pham Minh Chinh, his spouse, and a high-ranking delegation of Vietnam are paying an official visit to Singapore from February 8 to 10. Dung said the trip follows the mutual visits by the heads of the two states in 2022, reflecting the special mutual political trust and relations between the countries. Looking back upon achievements in bilateral relations, he said over the last 50 years, especially since the establishment of the strategic partnership 10 years ago, the two countries have enjoyed strong cooperation across the board, from politics, diplomacy, defense, and security to people-to-people exchange. Singapore currently ranks first among Southeast Asian investors and second among global ones in Vietnam. Among the large number of its projects in Vietnam, 11 Vietnam - Singapore industry parks (VSIPs) with total investment of over USD 11 billion nationwide are providing jobs for more than 300,000 people. During the coming trip, he noted, the two Prime … [Read more...] about Prime Minister’s visit reflects special ties between Vietnam, Singapore: ambassador

New momentum For over one week now, more than 94% of businesses in the Southern economic hub has resumed their production with over 95% of workers being back to work after Tet holiday. Workers at Go Vap district-based Joint Stock Company 28.1 under the Corporation 28 of the General Department of Logistics, which specializes in garments making, are working with the highest capacity, focusing on orders from the U.S., Australia, and European countries. Working for the company for more than 21 years now, Nguyen Van Hong from Hai Duong province said that good income and policy offered by the company make him feel secure at work. Despite difficulties facing the garment sector due to COVID-19, his company has ensured orders uninterrupted, so workers have resumed work since the beginning of the lunar New Year. In addition, good Tet welfare policy has helped keep workers attached to the company. Senior Colonel Tran Doan Thoan, Director of Joint Stock Company 28.1 informed that the … [Read more...] about Businesses in Ho Chi Minh City speed up production to achieve set targets

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency. - Vietnamese Ambassador to Singapore Mai Phuoc Dung has highlighted the significance of Prime Minister Pham Minh Chinh’s coming official visit to the city state, the first among many events to be held in both countries to mark the 50th anniversary of their diplomatic ties and 10 years of the strategic partnership. PM Chinh, his spouse, and a high-ranking delegation of Vietnam are paying an official visit to Singapore from February 8 to 10. Read full story - Two-way trade revenue between Vietnam and Laos in 2022 grew 24% from the previous year to reach some 1.7 billion USD, beyond expectations of their leaders at the 44th meeting of the Vietnam – Laos Inter-Governmental Committee on Bilateral Cooperation earlier last year. Read full story - Jeju Air Co., the biggest low-cost carrier of the Republic of Korea, said on February 6 that it will resume many routes to Vietnam … [Read more...] about ☕ Afternoon briefing on February 6