Trade deadline targets

Prime Minister Pham Minh Chinh (R) receives US Secretary of Commerce Gina Raimondo in Washington DC. on May 11 (Photo: VNA) This visit has been successful in paving the way for new development opportunities and stronger trade relations between the two countries. According to statistics from the General Department of Customs, the bilateral trade turnover between Vietnam and the US in 1995 was at US$450 million, and by 2021 it had increased to $111.6 billion, 248 times higher. In 2021, Vietnam exported $96.3 billion worth of goods to the US, up by 24.9 percent compared to 2020, accounting for 28.6 percent of the total export turnover of the country. As a result, Vietnam had a trade surplus of $81 billion, and the US continues to be Vietnam's number one trade surplus market, up by 27.9 percent compared to $63.4 billion in 2020. This has contributed to creating a new peak in exports and imports and prolonging the trade surplus for six consecutive years from 2016 until 2021. Vietnam … [Read more...] about Vietnam-US to have stronger trade relations

National Assembly deputies were divided into teams to discuss socio-economic achievements and challenges during their third working day in Hà Nội on Wednesday. VNA/VNS Photos Phạm Kiên HÀ NỘI — National Assembly Chairman Vương Đình Huệ yesterday day expressed his concern that this year’s growth target will be hard to reach. He was speaking during the third working day of the third session of the 15th-tenure National Assembly (NA) in Hà Nội. NA deputies reviewed the socio-economic development results in 2021, and discussed plans for further development and budget allocation this year. Discussing the economic growth targets that the 13th Party Congress set for the next five years, NA chair Huệ expressed his worries that the country must try much harder to achieve the gross domestic product (GDP) growth target of 8-8.5 per cent this year. The congress set a GDP growth target of 6.5-7 per cent each year from 2021 to … [Read more...] about Reaching growth target a challenge for this year: NA chair

Jose Mestre, a representative of the Central Retail Group in Vietnam, speaks at the conference (Photo: VNA) Bac Giang (VNA) – The northern province of Bac Giang, in collaboration with the ministries of Industry and Trade, and Agriculture and Rural Development, held an online conference on litchi sales for nearly 80 target markets at home and abroad. The conference provided an opportunity for Bac Giang to promote litchi sales in domestic and export markets; and strengthen its coordination with centrally-run agencies, domestic and foreign provinces and cities, and overseas Vietnamese economic, trade and diplomatic agencies. It also served as a forum for domestic and foreign businesses to find partners and sign contracts for litchi and litchi-based products in this year. Speaking at the event, Vice Chairman of the People’s Committee of Bac Giang province Phan The Tuan said that thanks to the favourable weather and the close control of growing area codes, the … [Read more...] about Bac Giang promotes litchi sales at home and abroad

A Vietnamese booth at the THAIFEX-Anuga Asia exhibition in Bangkok, Thailand. — Photo Tran Quynh Eighteen food and beverage enterprises led by the High Quality Vietnamese Product Business Association are displaying their products in Bangkok at THAIFEX-Anuga Asia, the region’s largest food and beverage trade fair. They are showcasing some unique and healthy products that meet consumers’ evolving post- COVID-19 pandemic such as lotus seed milk, lotus tea, dried lotus seeds, fruit jam pie, organic mango, coconut candy, bottled fresh coconut water with strawberry and salted lemon flavours, coconut butter, green skin pomelo, Habanero chilli sauce, fresh freeze-dried celery juice, eggplant products, pennywort powder, and others. According to the association, the Vietnamese products exhibited at the event meet international standards and are especially good for health. Besides taking part in the fair, the Vietnamese businesses will also take part in a study tour, visiting large … [Read more...] about Vietnamese firms show off food, beverage products at Thai fair

An ethnic minority woman in northern mountainous Cao Bằng Province is given a third COVID-19 vaccine dose. — VNA/VNS Photo HÀ NỘI — The Ministry of Health (MoH) has asked leaders of provinces and centrally-run cities to step up the vaccination campaign against COVID-19. Some localities have recently proposed to not receive vaccines or transferring their allocated doses, meaning the COVID-19 vaccination target is likely to be missed, the ministry said, citing a report from the National Institute of Hygiene and Epidemiology (NIHE). As of May 24, more than 219.2 million doses of COVID-19 vaccines have been administered nationwide. Localities have made great efforts in rolling out vaccinations to ensure safety and effectiveness and achieve a high coverage rate. The number of vaccines received by the MoH is enough to give the third and fourth shots for people aged 18 years and older who are eligible, it said. The ministry proposed leaders of the provinces and cities direct the … [Read more...] about Localities urged to step up vaccination against COVID-19

Indonesian Minister of Trade, Muhammad Lutfi (R) shakes hands with Japanese Minister of Economy, Trade and Industry Hagiuda Koichi after a meeting in Thailand (Photo: Indonesian Ministry of Trade) Jakarta (VNA) – Indonesia appreciated Japan 's desire to discuss the 'Asia Japan Investing for Future Initiative', Indonesian Minister of Trade Muhammad Lutfi said during his recent meeting with Japanese Minister of Economy, Trade and Industry Hagiuda Koichi. Lutfi said Indonesia welcomed the discussion to prepare this initiative for the benefit of the region. He revealed that there are at least three things that are of concern to Indonesia regarding this initiative. These things are related to the expected results, funding mechanisms, and the planned implementation time. The Indonesian minister also appreciated Japan's support for this year's G20 Presidency, hoping that the support will help G20 member countries generate useful achievements and priority agendas. … [Read more...] about Indonesia, Japan discuss regional economic development

Illustrative photo (Source: VNA) Hanoi (VNA) - The Bank for Investment and Development of Vietnam (BIDV) and the Asian Development Bank (ADB) on May 25 co-organised a workshop to announce a report on Vietnam’s financial market in 2021 and its 2022 outlook. BIDV Senior Executive Vice President Tran Phuong said it is a result of research by a team of ADB and BIDV experts. This is the first time a Vietnamese financial institution has collaborated with ADB to make a comprehensive assessment report on the Vietnamese financial market, covering the fields of banking, securities, and insurance, he noted. Looking back at 2021, the report states that the world economy recovered quite quickly along with a rapid increase in inflation due to the majority of countries reopening socio-economic activities. The global financial market continued its fast recovery given the new normal condition and strengthened confidence. In that context, Vietnam's economy recovered quite … [Read more...] about BIDV, ADB release report on Vietnam’s financial market

Female workers make shoes at Song Than Industrial Park in Binh Duong province’s Di An city. (Photo: VNA) Sydney (VNA) – The Vietnamese Embassy in Australia, the People’s Committee of Binh Duong province and the Victoria state government jointly held a Vietnamese business forum on May 24, aiming to introduce the potential and investment opportunities in the southern Vietnam province. Binh Duong province in particular, particularly those on support for small and medium enterprises. Business Forum in Melbourne, Victoria. Australia 's second largest trading partner with bilateral turnover reaching 113.7 billion AUD (more than 80 billion USD) in 2019-2020. Investment from both sides hit over 259 billion AUD and 242 billion USD in 2019 and 2020, respectively. VNA … [Read more...] about Forum seeks to promote investment from Australia into Vietnam

This year, Ha Giang Province will implement 11 industry promotion projects and two related tasks at a total cost of VND4.178 billion, including application of advanced machinery and equipment in tea processing, fine art and handicraft production, and garment and other consumer goods manufacture. Ha Giang Province’s industry promotion sector helps enterprises apply advanced machinery to tea production In 2021, with funding from the local industry promotion program, the Industry and Trade Promotion Center of Ha Giang Province helped the Tuan Bang trading and transport cooperative in the province’s Xin Man District procure three gas-based tea dryers, allowing the cooperative to dry 50 tonnes of green tea per year. The Coc Re trading and agro-forestry service cooperative in Xin Man District also received industry promotion funding as well as labeling and packaging design assistance for bee honey production. The support has helped the cooperative considerably improve its … [Read more...] about Ha Giang Province facilitates rural industrial production

Fashion designer Vo Viet Chung (R) and the Vietnam Design Association (VDAS) sign a cooperation agreement on organizing the Fashion Design Voices program. The program includes three projects of a reality TV show of future Vietnamese fashion designers, VietSilk International Fashion Week and Heritage Fashion Design Awards. It aims to inspire young people to promote design skills and the trading of Vietnamese fashion products, connect the fashion community, share a passion for fashion and develop the fashion designing market. Fashion designer Vo Viet Chung hoped that the cooperation will contribute to the building and development of the Vietnamese fashion industry. The program will support local fashion brands to build their business plans, and catch up with the current trends with high applicability to confidently integrate with the region, said Chairman of the VDAS Ho Tan Duong. A seminar on trends and a comprehensive view of the fashion business market 2022 is held at … [Read more...] about Projects promoting Vietnamese fashion, young designers launched