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Vietnam and Japan on Sunday jointly inked three agreements, valued at 61 billion yen (US$442.5 million), to fund new-generation official development assistance (ODA) projects in Vietnam. Of the total, 50 billion yen ($362 million) will be poured into a new-generation ODA program on post-pandemic socio-economic recovery and development. The rest will finance a project improving the public transportation system in southern Binh Duong Province and another one enhancing the infrastructure system for agricultural development in the Central Highlands province of Lam Dong. The signing of these ODA deals was witnessed by Vietnamese Prime Minister Pham Minh Chinh and his Japanese counterpart Kishida Fumio during the former’s trip to Japan for attending an expanded summit of Group of Seven (G7) nations, which took place from May 19 to 21. After the signing ceremony for the agreements, PM Chinh held talks with his Japanese counterpart. This is the first Vietnam-Japan high-level … [Read more...] about Vietnam, Japan sign new-generation ODA deals worth over $440mn

Representatives of the two firms pose for a photo at the launch of HSBC TravelOne credit card in Viet Nam. — Photo courtesy of HSBC HSBC Bank (Vietnam) Ltd. (HSBC Vietnam) and Mastercard have announced the launch of the HSBC TravelOne credit card in Viet Nam, tailored for travel enthusiasts who want greater flexibility, convenience and incentives as they embrace new experiences in the post-pandemic travel boom. Launched in partnership with Mastercard, the HSBC TravelOne credit card offers an easy rewards redemption experience with a wide range of international airlines and hotel partners via the HSBC Vietnam mobile banking app. HSBC is one of the first banks in Viet Nam to offer customers the convenience of instantly redeeming their card reward points for a wide range of airline miles and hotel stays via their mobile app. Viet Nam is one of the first batch of markets where HSBC will launch this card. TravelOne credit card furthers HSBC's wealth and personal banking strategy by … [Read more...] about HSBC, Mastercard launch new credit card in Viet Nam

The projects will support the development of more than 40 gigawatts (GW) of new generation resources, the California Independent System Operator (CAISO) said on Thursday. "With electrification increasing in other sectors of the economy, most notably transportation and the building industry, even more new power will be required in the years ahead," the CAISO said. The vast majority of the transmission projects will be built in California, with some in neighboring Arizona, it said. The power lines recommended by CAISO's 2022-2023 Transmission Plan will allow the state's grid to add more than 17 GW of solar resources, 8 GW of wind generation, 1 GW of geothermal development, and battery storage projects. CAISO will prioritize connecting power plants to the grid in specific geographical zones identified by its plan where developing new power lines and plants "make the most economic and operational sense." The grid operator also approved proposed reforms to account for … [Read more...] about California grid operator signs off on $7.3 billion of power lines

Vietnam will use 50 billion yen of this funding for the new-generation ODA (Official Development Assistance) budget support program for post-Covid-19 socioeconomic recovery and development, and the rest for the development of transport infrastructure and agriculture projects in the southern province of Binh Duong and and the central highlands province of Lam Dong. On Sunday, Chinh also held talks with Kishida on the occasion of partcipating the G7 Summit in Japan's Hiroshima. Japan is the largest provider of concessional ODA to Vietnam, with 2.98 trillion yen ($21.6 billion). Japan's ODA accounts for over 30% of bilateral aid to Vietnam. The two PMs said that the two countries would discuss the possibility of Japan providing new generation ODA for large-scale strategic infrastructure development projects, such as the North-South expressway, urban railways, green transformation, and medicine. These loans will have high incentives, with simpler and more flexible procedures than … [Read more...] about Vietnam, Japan sign three ODA projects valued at $500M

Illustrative photo (Photo: tasnimnews.com) Jakarta (VNA) – Indonesia and Iran will sign a preferential trade agreement (PTA) on May 23 to improve trade relations and boost the trade transaction value, Indonesia’s Trade Ministry announced on May 22. The ministry's director general of international trade negotiations, Djatmiko Bris Witjaksono said that it will be the second agreement between Indonesia and the Middle East region as the first was signed with UAE on July 1, 2022. According to Djatmiko, the PTA signing will be carried out within the framework of Iranian President Seyyed Ebrahim Raisi's visit to Indonesia from May 23 - 24. During his visit, the two countries will also hold a bilateral meeting to discuss further trade cooperation potential. The PTA signing will continue with the ratification process, with each country formulating its own mechanism. The products that will be listed in the PTA will include processed foods, pharmaceutical products, rubber, paper, … [Read more...] about Indonesia, Iran to sign preferential trade agreement

Bangkok (VNA) – An eight-party alliance of Thailand led by the Move Forward Party (MFP) on May 22 signed a pact outlining the working agenda of their proposed coalition government. The 23-point memorandum of understanding (MoU) was signed by the MFP, Pheu Thai, Prachachart, Thai Sang Thai, Seri Ruam Thai, Fair, Palang Sangkhom Mai and Pheu Thai Ruam Phalang parties, under which all of them supported MFP's leader Pita Limjaroenrat to become the next prime minister of Thailand . The signing of the MoU means that the leaders of the parties agree on 23 points the new government needs to implement (if elected), including amending the constitution, reforming the economy, strengthening the fight against corruption and drugs, and protecting the environment. The parties support the implementation of policies aimed at restoring Thailand's leadership role in the Association of Southeast Asian Nations ( ASEAN ) and maintaining balanced international relations between Thailand and … [Read more...] about Thailand: eight-party alliance sign MoU on forming coalition government

At the signing ceremony (Photo: Su That (Truth) National Political Publishing House) Hanoi (VNA) – Vietnam’s Su That (Truth) National Political Publishing House and the People's Publishing House of China signed a cooperation agreement for the 2023-2028 period, and a copyright contract for the second volume of the book “Xi Jinping Tells Stories” on May 23 in Hanoi. The two publishing houses have set up and maintained cooperative ties since the 1960s. As important publishing units of the Communist Party of Vietnam and the Communist Party of China, the two sides have implemented effective cooperation in the field of publishing, and made positive contributions to cultural exchange between the people of Vietnam and China. Under the newly-signed agreement, the two agencies will cooperate in building a mechanism for exchange and publication consultation with the periodic provision and introduction of necessary information related to publications. They will also introduce key … [Read more...] about Vietnamese, Chinese publishing houses sign deals

A woman performs a transaction on mobile phone at Bao Viet Securities' office. — VNA/VNS Photo The stock market is expected to see more investment opportunities for the medium and long term in the second quarter of 2023, according to analysts. In its latest report, BSC Securities Company said that the market witnessed strong divergence among industry groups in the first quarter of the year. Particularly, the financial, material, and energy sectors all posted better performances than the benchmark VN-Index. The securities firm also lowers its GDP growth forecast to 5.8 per cent in the positive scenario, compared to 6.7 per cent in early 2023, and to 5.3 per cent in the negative scenario, the report said. Many signs show that production activity is weakening while the real estate industry is still facing many challenges. In the first four months of the year, import and export value growth also declined. However, the macro situation has shown some positive signs, as inflation … [Read more...] about Stock market sees signs of rallies in the second half

A woman performs a transaction on mobile phone at Bao Viet Securities' office. (Photo: VNA) Hanoi (VNS/VNA) - The stock market is expected to see more investment opportunities for the medium and long term in the second quarter of 2023, according to analysts. In its latest report, BSC Securities Company said that the market witnessed strong divergence among industry groups in the first quarter of the year. Particularly, the financial, material, and energy sectors all posted better performances than the benchmark VN-Index. The securities firm also lowers its GDP growth forecast to 5.8% in the positive scenario, compared to 6.7% in early 2023, and to 5.3% in the negative scenario, the report said. Many signs show that production activity is weakening while the real estate industry is still facing many challenges. In the first four months of the year, import and export value growth also declined. However, the macro situation has shown some positive signs, as … [Read more...] about Stock market sees signs of rallies in second half

According to Vietnamese Inspector General Doan Hong Phong, since the bodies’ first MoU was inked in 2005, regular exchange activities and coordination in organizing personnel training courses have facilitated the sides’ sharing of information and experience, contributing to improving the effectiveness of inspection work in each country. Doan Hong Phong said he is pleased that an agreement was reached for the signing of the amended MoU during the Cambodian delegation’s current visit to Vietnam, describing the event as an important milestone in deepening the cooperative relationship between the two agencies, and in nurturing the good neighborliness, traditional friendship, comprehensive and sustainable cooperation between Vietnam and Cambodia. Deputy Prime Minister and Minister of National Assembly-Senate Relations and Inspection Samdech Kittisangha Men Sam An, the Cambodian delegation head, said through their talks, the sides exchanged a host of inspection and anti-corruption … [Read more...] about Vietnam, Cambodia sign inspection cooperation MoU