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Vietnamese Ambassador to Australia Nguyen Tat Thanh. (Photo: Vietnamese Embassy in Australia) Hanoi (VNA) – The upcoming visit to Vietnam by Australian Prime Minister Anthony Albanese will create momentum for bilateral cooperation in such potential areas as culture, investment, labour and people-to-people exchanges, Vietnamese Ambassador to Australia Nguyen Tat Thanh has said. In an interview granted to the Vietnam News Agency (VNA)'s resident correspondents in Sydney ahead of the PM’s trip from June 3-4, Thanh said the visit takes place at a time when the two countries are celebrating the 50th founding anniversary of the bilateral diplomatic ties and the 5th anniversary of the strategic partnership. This is the second official visit to a Southeast Asian nation by PM Albanese since he took office, and the third to Vietnam by an Australian PM, the ambassador said, noting that the trip shows PM Albanese’s administration attaches importance to Vietnam. Thanh also … [Read more...] about Australian PM’s Vietnam visit to give impulse to bilateral ties: Ambassador

Minister of Health Dao Hong Lan (Photo: VNA) Hanoi (VNS/VNA) - Minister of Health Dao Hong Lan has said that Prime Minister Pham Minh Chinh would chair a meeting of the National Steering Committee for COVID-19 Prevention and Control this weekend to deliberate the downgrading of COVID-19 from its current placement in Class A infectious diseases down to Class B. Lan told the National Assembly that on May 29 that the World Health Organisation (WHO) announced that COVID-19 no longer constituted a Public Health Emergency of International Concern, the designation that was attached to the viral disease more than three years ago, but the pandemic is not over yet. In accordance with the guidance of the Government leader, the Ministry of Health was also coordinating with other ministries and agencies to review the legal regulations, consult the experience of other countries, and review practical measures for the prevention and control of COVID-19 in Vietnam, Lan noted. The Ministry … [Read more...] about Vietnam to consider downgrading COVID-19 to flu-like status

HANOI -- Vietnam's most valuable listed lender, Vietcombank, is tapping advisers for plans to raise at least $600 million in fresh equity capital to build firepower and better compete with its rivals, two sources familiar with the matter said. The majority state-owned bank, with a market capitalisation of nearly VND450 trillion ($19 billion), has been trying for years to raise its core capital, which is the lowest among Vietnam's state lenders. Pressure on Vietcombank has increased in recent weeks after private lender Vietnam Prosperity Joint Stock Commercial Bank (VPBank) sold a $1.5 billion stake in March to Japan's Sumitomo Mitsui Financial Group Inc. Vietcombank is now doubling down its efforts for an equity private placement, partly to meet the market challenge of its local rivals including VPBank, said the two sources, who declined to be named as the discussions were confidential. The move comes as Vietnam's banks face heat from a slowing economy and protracted turmoil … [Read more...] about Top Vietnam bank weighs share issue to raise at least $600 mln: sources

The Vietnamese job market saw a plunge in recruitment demand in January-April, with hiring of foreigners and overseas Vietnamese tumbling 39 percent compared to the pre-pandemic level due to the global economic downturn, according to a report recently issued by Navigos Group, one of the leading recruitment companies in Vietnam. In addition, there was a significant drop of 63 percent in demand for hiring seasonal workers and individuals on short-term contracts. Similarly, the demand for recruiting new graduates also experienced a substantial decrease of 49 percent. Following the prevailing market fluctuations and economic downturn, there was a noticeable decline in labor recruitment demand for various positions including foreigners, overseas Vietnamese, seasonal workers, short-term contracts, new graduates, and mid-level and senior professionals, according to the Navigos Group report. Overall downtrend Navigos Group conducted the analysis using job posting data from its … [Read more...] about Vietnam sees steep decline in hiring of foreigners, overseas Vietnamese

PM Nguyen Xuan Phuc said Vietnam will facilitate Russian-invested oil and gas projects. Vietnam’s Prime Minister Nguyen Xuan Phuc on December 24 held a phone talk with his Russian counterpart Dmitry Medvedev to keep a close watch of cooperation activities, according to the Vietnamese Ministry of Foreign Affairs (MOFA). Vietnam’s Prime Minister Nguyen Xuan Phuc holds talks with Russian counterpart Dmitry Medvedev on Dec 24. Photo: Baodansinh The talk, which is described as of “openness and trust”, focused on results of the implementation of agreements signed in PM Phuc’s Russia visit in May 2019, and measures to boost the efficiency of bilateral coordination in different fields. The two leaders hailed joint work to lift barriers for agro-aquatic and seafood products, helping to fully tap advantages of Vietnam – Eurasian Economic Union Free Trade Agreement (Vietnam-EAEU FTA) amid global economic uncertainties. PM Phuc emphasized that Vietnam always … [Read more...] about Vietnam PM holds phone talk with Russian counterpart, focusing on oil cooperation

In an interview granted to the Vietnam News Agency (VNA)'s resident correspondents in Sydney ahead of the Prime Minister's trip from June 3-4, Thanh said the visit takes place at a time when the two countries are celebrating the 50th founding anniversary of the bilateral diplomatic ties and the 5th anniversary of the strategic partnership. This is the second official visit to a Southeast Asian nation by Albanese since he took office, and the third to Vietnam by an Australian Prime Minister, the ambassador said, noting that the trip shows Prime Minister Albanese’s administration attaches importance to Vietnam. Thanh also recalled the visit to Vietnam by Australian Governor-General David Hurley in April, which was his only State-level visit to a Southeast Asian nation, and another trip to Vietnam by Minister for Trade and Tourism Don Farrell in the same month. In June 2022, Minister for Foreign Affairs Penny Wong selected Vietnam as the first ASEAN country to pay an official visit. … [Read more...] about Australian Prime Minister’s Vietnam visit to give impulse to bilateral ties: Ambassador

Contributions of foreign direct investment cannot be denied, illustration photo In recent years, there has been a viewpoint that foreign direct investment (FDI) is a foreign element rather than an organic part of Vietnam’s economy. It is also sometimes believed that the domestic economy is weak due to the low spillover effects of FDI without a clear recognition of the need to promote the development of the domestic economy. However, if we assume something that did not happen in reality – that Vietnam never did have access to FDI – then we would see a vastly different nation today. The increasing proportion of FDI indicates that the economic growth rate of this area is usually higher than that of the domestic economy. Without, it would take many more years for Vietnam to reach the GDP scale of 2022 with $409 billion and average GDP per capita of $4,110, and with the economic growth rate at over 7 per cent annually, as seen in 1991-1997 and 2002-2007. In 2022, the realised … [Read more...] about Contributions of foreign direct investment cannot be denied

Vietnam has the 15th largest population of smokers in the world, and approximately 40,000 people die each year from diseases caused by smoking. National lawmakers have called on the Government to ban all e-cigarette products in Vietnam soon, citing health concerns. A no-smoking sign is labeled at a bookstore in Hanoi. Photo: Văn Sinh/The Hanoi Times The Government should amend the Law on Tobacco Harm Prevention and related regulations to stop the trade, circulation and use of e-cigarettes in Vietnam, Hanoi deputy Nguyen Anh Tri said on June 1. All these actions should be dealt with under the Penal Code, he said. Tri said new generations of cigarette products, including e-cigarettes, may contain illegal drugs and cause severe damage to people's health. However, he said, hardly anything was done to prevent these products from adversely affecting society. He called on the government to reduce the smoking rate to 30% by 2030. "The Government needs … [Read more...] about Vietnamese Government urged to ban e-cigarettes

At the meeting, Karan Adani, CEO of APSEZ and Nguyen Canh Tinh, CEO of VIMC discussed the cooperation possibilities between the two sides. Tinh said that VIMC's fleet in India had received cooperation and support from Adani. As a government-run enterprise, VIMC will implement a strategy of strong breakthroughs in maritime service infrastructure, development of seaports, especially deep-water seaports in key economic regions of Vietnam. VIMC and APSEZ signed a MoU on May 24 “VIMC has always considered Indian enterprises like Adani Group as an important strategic partner in developing its shipping fleet, container fleet in inner Asia and the world, including the Indian market to develop a connection chain with key economic regions of Vietnam,” Tinh said. Adani said that VIMC and Adani were both leading enterprises in the maritime sector in each country, making important contributions to the countries’ economic development, and having similarities in providing … [Read more...] about VIMC, Adani cooperate on seaport development

Vietnamese Prime Minister Pham Minh Chinh in a recently-signed dispatch ordered the adoption of urgent measures to alleviate goods congestion and facilitate the export of agro-products along the border with China. The dispatch was issued at a time when border gates in the northern border province of Lang Son have seen an upsurge in the number of container trucks carrying farm produce for export, resulting in a prolonged customs clearance process and limited clearance capacity. Several fruits, meanwhile, are now ready to harvest in the country. This could pose a higher risk of congestion at the border gates as more container trucks transporting fruits for export to China will head to these areas. Therefore, PM Chinh urged the authorities in northern border provinces and relevant agencies to review regulations on the import and export of farm produce between Vietnam and China. They were told to work with the Chinese side to streamline the customs clearance process, extend … [Read more...] about Vietnamese PM orders emergency measures to ease farm produce congestion border with China