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UK Minister of International Trade Greg Hands visited Vietnam on Wednesday to explore trade cooperation opportunities between the two countries. His visit came amidst the UK’s pursuit of full membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2023. Vietnam is the first stop on the minister’s three-day trip to three Southeast Asian countries, all of which are founding members of the partnership. During an exclusive interview with Tuoi Tre News , Hands emphasized what the UK can offer the CPTPP, as well as discussed the UK’s strong strategic partnership with Vietnam. In a speech at Lancaster House on January 23, UK Trade Secretary Kemi Badenoch outlined five priorities for trade. What are your priorities as the Minister of State for Trade Policy? My personal priorities are, first, to get the UK into the CPTPP. Vietnam will play a crucial role in that progress. My second priority is to do a free trade agreement with India this … [Read more...] about UK joining CPTPP a fundamental change to the bloc: minister

The capital city expects to have high-quality agricultural products to feed ten million of its residents. Hanoi targets to set up more than 3,000 cooperatives by 2030, including 250 hi-tech agricultural cooperatives. The goal is included in an action program on innovation and development of collective economic efficiency in the new period, which was released on February 2. More specifically, Hanoi strives to establish about 100 new cooperative groups and 100 cooperatives annually by 2030, increasing the total number of cooperatives by 2025 and 2030 to nearly 2,500 and over 3,000, respectively. By 2045, the city would have about 450 to 500 new cooperative groups and seven to 10 cooperative unions. To achieve this goal, Hanoi will continue to promote the dissemination of the 2012 Law on Cooperatives and improve the capacity of cooperative resources, adopt preferential policies, and apply scientific and technological advances for the development of cooperatives. … [Read more...] about Hanoi plans to have 3,000 cooperatives by 2030

The event, held by the Ministry of Industry and Trade (MoIT), aimed to promote domestic production and consumption, and expand export markets in 2023. Noting challenges to the sector this year, the Prime Minister said they should be turned into opportunities, contributing to building an economy of independence, self-reliance, and intensive, extensive and effective international integration. The MoIT needs to coordinate with other ministries, agencies and localities to diversify markets, products and supply chains, while accelerating administrative reform, infrastructure construction and institutional building, and promoting the three growth engines of consumption, investment and export, he said. The leader also stressed the importance of digital transformation, green economy, circular economy and climate change response, and urged the ministry to quickly complete the four master plans on electricity, energy, minerals and oil and gas infrastructure. Solutions should be rolled … [Read more...] about Businesses should be development focus: Prime Minister

At the working session, GDL Director Lieutenant General Tran Duy Giang reported that last year, the military logistics sector surmounted difficulties, gave recommendations to higher levels, directed the comprehensive and effective implementation of all working aspects, contributing to the whole military’s achievements in military and defense duties. The year 2023 is the first year the Central Military Commission’s Resolution 1658-NQ/QUTW on military logistics affairs by 2030 and the subsequent years is realized; therefore, the GDL is determined to seriously organize personnel, pro-actively overcome difficulties, promote innovation, improve quality of all aspects and complete the logistics tasks with higher results than previous year. In his speech, General Phan Van Giang applauded the GDL’s Party committee, chain-of-command, and the military logistics sector for their task accomplishments in 2022 and the guarantee of logistics supplies for troops to welcome the 2023 lunar New Year … [Read more...] about Defense Minister works with General Department of Logistics

The conference on promoting production, domestic consumption and exports in 2023 was held in Ha Noi on February 3. — VNA/VNS Photo Duong Giang At a conference held by the Ministry of Industry and Trade on expanding the export market in Ha Noi on February 3, Prime Minister Pham Minh Chinh emphasised the importance of boosting external activities and fostering bilateral and multilateral cooperation. Deputy Prime Minister, Minister of Natural Resources and Environment Tran Hong Ha and Minister of Industry and Trade Nguyen Hong Dien also attended the conference. Chinh said the ministry should take advantage of the free trade agreements (FTAs) that Viet Nam has joined to help diversify export markets and maintain traditional markets, such as the US, China, the EU, Japan, South Korea and ASEAN. Viet Nam needed to expand its export market to Eastern Europe, the Middle East, South America, South Asia, and Africa and promote supply chain diversification. Negotiations that are … [Read more...] about PM emphasises importance of boosting external activities at export market conference

Vietnam officially set up diplomatic relations with Trinidad and Tobago on Wednesday, taking the number of countries that Hanoi has diplomatic ties with to 192. According to the Ministry of Foreign Affairs, Ambassadors Dang Hoang Giang and Dennis Francis Smith, heads of the delegations of Vietnam and Trinidad and Tobago, respectively, to the United Nations (UN), signed a joint communiqué on the diplomatic tie establishment on behalf of the two governments at the UN headquarters in New York. The two sides agreed to exchange diplomatic representatives at the ambassadorial level under the 1961 Vienna Convention on Diplomatic Relations. On the same day, the joint communiqué was sent to UN Secretary General Antonio Guterres for circulation and to UN member countries for information. With the diplomatic ties with Trinidad and Tobago, Vietnam has had official diplomatic relations with all 35 countries in the Americas and 190 out of the 193 member countries of the UN, proving the … [Read more...] about Vietnam establishes diplomatic ties with Trinidad and Tobago

-What do you think about local garment firms’ inability to dominate the domestic market of 100 million people here in Vietnam? - Vietnamese textile and garment enterprises are still [only beginning to] tap the domestic market. Last year, the domestic market increased by 40% against 2021. Local enterprises performed very well in the first half of last year and began to face difficulties in the third quarter. In the fourth quarter, many good Vietnamese brands like Viet Tien saw sales decrease. In late 2022, the Vinatex Fashion Center retail outlet in Hanoi made revenues of only VND500-600 million ($21,200-25,400) a day, compared with daily revenues of over VND1 billion in previous years. Over the past two years, many domestic fashion brands have reduced their number of stores and limited new openings. They have had to focus on certain locations to reduce costs, optimize operations and try to offer products that are most suitable to consumers’ incomes.In fact, domestic … [Read more...] about Garment firms should tap niche markets: Vinatex chairman

Hanoi aims to take the lead in the digitalization process nationwide. The digitalization process is expected to help Hanoi realize its vision to become a smart and modern city by 2025, creating the foundation for rapid and sustainable economic development. A corner of Hanoi. Photo: Tuan Anh The view was shared in a resolution by the Hanoi Party Committee on promoting Hanoi’s smart city by 2025, with a vision to 2030. Accordingly, the city should be among the leading localities in terms of digital transformation. Building a smart city holds a strategic meaning for Hanoi’s long-term development, which requires strong efforts and a new mindset from the entire political system, it said. By 2030, the city is envisioned to become a modern and smart city integrated into the network of smart urban cities in the region and the world; build comprehensive databases for priority economic sectors; and based on this, develop creative services for the benefit of the … [Read more...] about Digitalization to help Hanoi become smart city by 2025

Ko, now 39, launched himself into a career in the renewables industry about 15 years ago, working on green projects in a dozen countries before returning home to the capital Kuala Lumpur. There he teamed up with two school-friends in 2012 to co-found Plus Xnergy, a company that helps homes, businesses and buildings to develop their own solar power systems or source clean energy supplies from elsewhere. The entrepreneur - who has worked with the likes of furniture retailer IKEA, logistics giant DHL and entertainment conglomerate Sony and has developed six solar farms across Malaysia - said awareness about renewable energy among his country folk is the highest he has known. Nonetheless, Ko and other energy experts warned that Malaysia is trailing its Southeast Asian neighbors on clean energy expansion, as a lack of financial incentives and investment, coupled with red-tape, hold back the big projects needed for the country to meet its ambitious climate goals. "Malaysia is … [Read more...] about Malaysia faces ‘inconvenient truth’ on clean energy goals

According to reports from labor federations across the country, from September 2022 to January 8, 2023, as many as 1,300 enterprises in 50 cities and provinces met difficulties with fewer orders, forcing them to cut working hours of over 546,000 workers. Three quarters of the affected workers were in foreign-invested sector, mostly in apparel, leather and footwear and wood processing industries in southern cities and provinces such as Ho Chi Minh City, Long An, Tay Ninh, Dong Nai, Binh Duong and An Giang. On January 16, the Presidium of the Vietnam General Confederation of Labor issued a Resolution on providing support for its members and workers who lost their jobs or had their working time reduced from October 1, 2022 to March 31, 2023, in the form of cash ranging from VND 1 million (USD 42) to VND 3 million. Workers who are not trade union members will be given aid equal to 70% of the support for members. From December 1, 2022 to January 29, 2023, there were 18 labor … [Read more...] about Over 96% of laborers return to work following Tet