Socio economic recovery and development

UK Minister of State The Rt Hon Gregory Hands of the Department for International Trade arrived in Hanoi on February 1 to hold high level trade talks on how the UK joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will boost the economic firepower of the world’s most dynamic trade bloc. Minister Hands meets with Vice Minister of Industry and Trade, Tran Quoc Khanh. Upon his arrival in Hanoi, Minister Hands met with Vice Minister of Industry and Trade, Tran Quoc Khanh. With the next round of CPTPP negotiations upcoming, the UK Minister expressed. his country’s desire to finalisze accession at the earliest possible opportunity. The occasion also provided an opportunity to mark 50 years of UK-Vietnam diplomatic relations and discuss the thriving bilateral trade relationship which has increased by 12.4% over the last year and is valued at £5.9 billion. As a founding CPTPP member state, Vietnam marks the first leg of the UK … [Read more...] about “UK ready to boost CPTPP’s economic firepower”: UK Trade Minister

Illustrative image (Photo: baodautu.vn) Hanoi (VNA) – Vietnam is paying attention to mobilising resources to invest in developing green agriculture with an aim to raising the market share of its agricultural exports to the European Union. Last year, Vietnam’s export revenue of agro-fishery-forestry products set a record high of 53.22 billion USD, up 9.3% year-on-year. However, Europe accounted for only 11.3% of its market share. This is a modest number, although the agricultural sector has optimised many advantages of the EU- Vietnam Free Trade Agreement (EVFTA). One of the main reasons is said to be the union’s high requirements on farm imports, while Vietnam’s agricultural production has yet to meet green growth requirements. According to the World Bank’s report, agriculture is the second highest emitter, accounting for 19% of the nation’s total gas emissions in 2020. About 48% of the sector’s emissions and more than 75% of methane emissions are from rice … [Read more...] about Vietnam develops green agriculture to increase exports to EU

The northcentral and central coastal region has a special strategic role in economy, politics, culture, society, environment, defence, security and foreign relations of the country (Photo: MPI) Hanoi (VNA) – A national conference on the socio-economic development of the northcentral and central coastal region will be held on February 5, focusing on seeking measures to boost maritime economic growth for fast and sustainable development of the regions, Deputy Minister of Planning and Investment Tran Huy Dong said at a press briefing in Hanoi on February 1. Dong said that the conference aims to launch the Government’s action programme to implement the Politburo’s Resolution 26 -NQ/TW on the orientations for socio-economic development and security-defence protection of the region to 2030 with a vision to 2045, and attract investment to the region. According to the official, the conference is also designed to call for the engagement of investors, domestic and foreign … [Read more...] about Maritime economy to be boosted in northcentral and central coastal region

Illustrative image (Photo: asean.org) Bangkok (VNA) – The Economic Intelligence Centre of the Siam Commercial Bank forecasts the CLMV countries , namely Cambodia, Laos, Myanmar and Vietnam, will gain a stronger growth momentum in 2023, but remain below its growth potential prior to the COVID-19 outbreaks. The rebound will be uneven across countries, depending on economic fundamentals and country-specific risks, the centre said in its February 1 report. SCB EIC expects that the Cambodian economy will grow 5.5% this year, 3.0% in Laos and Myanmar, and 6.2% in Vietnam. According to the report, domestic demand and tourism will be key drivers for CLMV economic recovery in 2023. Domestic demand will gain support from improvements in the labour market, as seen in Vietnam’s Q4/22 employment soaring to its highest level since the COVID-19 outbreaks. Meanwhile, the service sector will benefit from rising tourist arrivals this year, particularly Chinese visitors who made up … [Read more...] about CLMV countries to grow stronger this year: Thai bank

Dong said that the conference aims to launch the Government’s action program to implement the Politburo’s Resolution 26-NQ/TW on the orientations for socio-economic development and security - defense protection of the region to 2030 with a vision to 2045, and attract investment to the region. According to the official, the conference is also designed to call for the engagement of investors, domestic and foreign business associations and partners in major investment projects and programs in the region. Deputy Minister Dong underlined that the event has a significant importance to the development of the region which has a special strategic role in economy, politics, culture, society, environment, defense, security and foreign relations of the country, especially the national strategy on the sustainable maritime economic development. An investment promotion conference will be held in parallel with the event, aiming to mobilize resources for infrastructure development in the region … [Read more...] about Maritime economy to be boosted in North-central and Central coastal region

Economic expert Dinh Trong Thinh Last year ended with many fluctuations for investment channels due to the COVID-19 pandemic, the geopolitical conflicts, and the US Federal Reserve (FED)'s adjustments of interest rates. This year, those difficulties are forecast to remain. Economic expert Dinh Trong Thinh spoke to Vietnam News Agency about prospects of investment channels. What is your overview of the development of investment channels such as gold, real estate, and securities in 2022? 2022 had a prominent feature that at the beginning of the year all investment channels attracted a large volume of capital and saw significant growth, except for the savings deposit channel. The investment channels of gold, securities, and real estate all thrived. For instance, the real estate prices in the first six months of the year increased by about 60 per cent. For securities, stock prices in the first months of the year also increased and the VN-Index reached more than 1,600 points. … [Read more...] about Investment channels expected to be better this year

The annual festival is held as a religious ritual dedicated to the god of agriculture to win his blessing for verdant crops and prosperity for villagers throughout the year. It consists of an offering ritual, a ploughing ceremony and folk games. According to Chairman of the Ba Be district People’s Committee Luu Quoc Trung, over the past years, tourism in the locality has been developed, attracting hundreds of thousands of visitors and becoming a key economic sector of the district. Therefore, the district attaches much importance to preserving and promoting cultural identities of local ethnic groups. At the end of the festival, people had a chance to experience a cultural space, featuring local people and land. They also enjoyed local food and joined an art exchange, together with playing folk games. In addition, visitors could enjoy the beauty of Ba Be - the largest freshwater lake in Vietnam, buy OCOP (One Commune, One Product) and local agricultural products. “This is the … [Read more...] about Long Tong festival held in Bac Kan province

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency. - Prime Minister Pham Minh Chinh outlined main tasks to improve the material and spiritual life of labourers at a meeting on coordination between the Government and the Vietnam General Confederation of Labour (VGCL) in Hanoi on February 1. The ministries of planning and investment; industry and trade; foreign affairs; and labour, invalids and social affairs should coordinate with the VGCL in boosting production and business, expanding the market, creating more jobs for labourers, and improving their skills, the Government leader said. Read full story - A book by General Secretary of the Communist Party of Vietnam (CPV) Nguyen Phu Trong regarding the fight against corruption and other negative phenomena will be released at a ceremony in Hanoi on February 2, according to the CPV Central Committee’s Commission for Internal Affairs. The debut is timed for the 93rd … [Read more...] about ☕ Afternoon briefing on February 1

Prime Minister Pham Minh Chinh speaks at the meeting. (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh outlined main tasks to improve the material and spiritual life of labourers at a meeting on coordination between the Government and the Vietnam General Confederation of Labour (VGCL) in Hanoi on February 1. The ministries of planning and investment; industry and trade; foreign affairs; and labour, invalids and social affairs should coordinate with the VGCL in boosting production and business, expanding the market, creating more jobs for labourers, and improving their skills, the Government leader said. He asked the ministries of construction, natural resources and environment and finance to work together with the confederation in handling issues relating to housing for labourers. The VGCL should coordinate with the ministries of culture, sports and tourism; health; and education and training in building cultural, educational and health care establishments … [Read more...] about PM speaks of major tasks to raise labourers’ material, spiritual life

The ministries of planning and investment; industry and trade; foreign affairs; and labor, invalids and social affairs should coordinate with the VGCL in boosting production and business, expanding the market, creating more jobs for laborers, and improving their skills, the government leader said. He asked the ministries of construction, natural resources and environment and finance to work together with the confederation in handling issues relating to housing for laborers. The VGCL should coordinate with the ministries of culture, sports and tourism; health; and education and training in building cultural, educational and health care establishments in service of laborers, according to the Prime Minister. Specific coordination plans need to be sketched out within this month, he stressed, and mentioned tasks for ministries, agencies and localities regarding institutions for workers at industrial and processing zones, especially those on housing, incentives for fishermen, insurance … [Read more...] about Prime Minister speaks of major tasks to raise laborers’ material, spiritual life