A Vietnamese factory processing tra fish for exports (Illustrative image. Source: VNA) Hanoi (VNS/VNA) - Vietnamese and Chinese enterprises are encouraged to tap into the great bilateral trade potential driven by the two countries’ open trade policies, experts have said. Vietnam values and gives priority to strengthening economic and trade cooperation with China, and hopes to receive greater investment from China and the overseas Chinese community, said Nguyen Noi, Deputy Director of the Foreign Investment Agency under the Ministry of Planning and Investment. “I’m pleased to see that many leading Chinese corporations are expanding their investments in the fields of electronics, renewable energy and IT, applying modern technology and bringing more value in line with Vietnam’s foreign investment orientation,” Noi told a conference on Vietnam-China trade and investment last week. China continued to be Vietnam’s … [Read more...] about Vietnam, China have room to grow trade ties: experts
Singapore china boost cooperation on belt and road initiative
A rambutan orchard in Ben Tre. The province is seeking to boost export of its fruits, especially to China (Photo: VNA) Ben Tre (VNA) - China has high demand for fruits but new measures are needed to encourage Vietnamese exporters to ship their fruits officially to China rather than through border trade, a recent seminar heard in Ben Tre province. According to the provincial Department of Agricultural and Rural Development, the province has more than 28,000ha under fruits and grows over 300,000 tonnes of various fruits annually. They not only meet domestic demand but are also exported to many countries, with some fruits like rambutan and xiem coconut even sold to demanding markets like the US, Australia, Canada and Europe. But Nguyen Van Buoi, the department’s deputy director, said China remains the main market and exports are mainly through border trade. China has officially opened its market to eight fruits from Vietnam - mango, longan, banana, litchi, … [Read more...] about Ben Tre seeks to boost exports of key farm produce
The US-China over artificial intelligence is heating up, but some warn the US could be over-reacting. "China is betting on AI and investing in AI and deploying AI on a scale no other country is doing," says Abishur Prakash, a futurist and author of books about the effect of artificial intelligence (AI) on geopolitics. As developments in AI accelerate, some in the US fear that the ability of China's powerful central government to marshal data and pour resources into the field will push it ahead. The country has announced billions in funding for start-ups, launched programmes to woo researchers from overseas and streamlined its data policies. It has announced news-reading robots and AI-powered strategy for foreign relations. Perhaps most alarming to the US are its efforts to incorporate it into its military. In the last few years, Washington has toughened oversight of Chinese investments, banned US firms from doing business with certain Chinese companies and increased criminal … [Read more...] about Is China gaining an edge in artificial intelligence?
Illustrative image (Source: VNA) Hanoi (VNS/VNA) - The Vietnam Securities Depository (VSD) will apply a new minimum initial margin ratio of 13 percent from July 18 instead of the previous 10 percent for VN30 Index futures to avoid violations and ensure the security of the derivatives market. The initial margin is the minimum collateral value deposited with the VSD to meet the requirements of clearing members’ positions which are expected to open before trading, except close-out positions of the same trading account. The VSD on July 13 “sent a written notice to clearing members about the adjustment” and requested them to “review, recalculate the margin requirement value in accordance with new minimum margin requirements on each investor accounts.” Clearing members should ask for “additional deposits (if necessary)” to avoid “violation of collateral usage rate” and “assure the safety and smoothness of clearing and … [Read more...] about Initial margin ratio raised to reduce derivatives risks
In a press interview during the on-going visit to Vietnam by the U.S. Secretary of State John Kerry from Jan. 12 to 14, Vietnamese Deputy Foreign Minister Ha Kim Ngoc emphasized that economy, trade and investment remain central, driving the bilateral relations. Regarding the bilateral relationship in the time to come, the Vietnamese diplomat said, “We need to exert more efforts to create a favorable environment for U.S. investors and to boost two-way trade”, as there remain great potential for comprehensive cooperation. Priority should be given to joint efforts to overcome the aftermath of the war. Vietnamese Deputy Foreign Minister Ha Kim Ngoc According to the Deputy Foreign Minister, Vietnam and the U.S. have already built an intensive and firm cooperation foundation, practical cooperation mechanisms on the spheres of bilateral, regional and international relations. He believed that with high determination of the two sides, the Vietnam-U.S. relationship will … [Read more...] about Economic, trade and investment cooperation remains central to Vietnam-U.S. relations