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According to the Ministry of Industry and Trade, 72 countries recognize Vietnam as a market economy, including Canada, Australia, Japan, and South Korea. The UK did so recently with an official letter to the effect. Speaking to VnExpress , a Trade Remedies Authority Department official said since its first anti-dumping investigation case against Vietnam in 2002 the U.S. had been considering the country a non-market economy. In a meeting with the U.S. Secretary of Commerce Gina Raimondo in Washington last Tuesday, Prime Minister Pham Minh Chinh proposed the U.S. to soon recognize Vietnam’s market economy status . The need for recognition of Vietnam's market economy status was also in the joint statement between General Secretary Nguyen Phu Trong and President Joe Biden on upgrading the two countries' relations to a Comprehensive Strategic Partnership. The EU also sees Vietnam as a non-market economy. In 2015, while free-trade agreement negotiations were underway, the EU … [Read more...] about Significance of Vietnam being a market economy

Featured Bangkok, Hanoi, Jakarta (GMT+7) Oldest Latest Has news updated 90'+8 Time's up Vietnam suffered a heavy 0-7 defeat against Japan in the last round of Asian Games women's football group stage. 90'+3 7-0 Japan showed no sign of slowing down as Osawa scored her second goal of the game with a great shot. 90' Seven minutes are added to the second half. 84' Vietnam almost conceded another goal when Chiba's header hit the bar. 77' Chiba made it 6-0 Despite defending in large number, Vietnam couldn't stop Japan from scoring as Chiba completed her double with an easy tap-in. 71' Vietnam made two more substitutions in an effort to avoid conceding more. 70' Japan subbed out their goalkeeper. 69' 5-0 for Japan Haruka Osawa broke the offside trap before chipping it over … [Read more...] about Japan thrash Vietnam 7-0 in Asian Games women’s football

Logistics groups go green to add to net-zero goals, source: DHL Express DHL Express on September 19 onboarded Asia Commercial Joint Stock Bank (ACB) to its GoGreen Plus service to reduce carbon emissions for its time-definite international shipments through the use of sustainable aviation fuel (SAF). By investing in GoGreen Plus, it is estimated that ACB will be able to reduce 14 tonnes worth of total CO2 emissions within a 12-month period. The entire process is verified annually by an independent third-party agency. In addition, a complementary carbon footprint report will be updated monthly, detailing ACB’s overall emissions with DHL Express. Bernardo Bautista, general director and country manager for DHL Express Vietnam, said that the company believed that corporate social responsibility and business success go hand-in-hand. “Global sustainability and environmental protection are important for all of us, including our customers. With SAF as our key lever to effectively … [Read more...] about Logistics groups go green to add to net-zero goals

Two weeks ago, the government held a forum to help make the first steps to shape the market of high-efficiency energy-consuming equipment by 2030. The move is made amid the rising pressure to alleviate power outages and achieve the net-zero goal by 2050. More options looked at for energy-efficiency goals, photo VNA The event, on developing the high-efficiency energy-consuming market from policy to implementation, was organised by the Office of the Steering Committee for Energy Efficiency under the Ministry of Industry and Trade (MoIT). One measure discussed was promoting the use of high-efficiency energy-consuming equipment and gradually eliminating outdated technological products. Meanwhile, low-efficiency energy-consuming equipment such as storage water heaters and infrared hobs is prohibited to import, produce, and sell in Vietnam, according to a decision made in May. Dang Hai Dung, deputy chief of the Office of Sustainable Production and Consumption under the … [Read more...] about More options looked at for energy-efficiency goals

The Drug Administration of Vietnam (DAV) under the Ministry of Health on Wednesday said it has not received any reports indicating adverse effects of Swiss pharmaceutical company Roche’s Avastin cancer drug, a treatment associated with 12 Pakistani patients losing their vision. The DAV affirmed that Avastin’s four previously-granted registration certificates for circulation within Vietnam remain active. The agency made the announcement following the Roche representative office in Vietnam’s update on the ongoing investigation into the use of the drug Avastin in Pakistan. The probe was carried out after 12 diabetic patients in Pakistan who were injected with a drug labeled 'Inj. Avastin 1.25mg/0.05ml' went blind. The drug was distributed by unauthorized provider Genius Pharmaceutical Service, but its label led to the misunderstanding that it was an authentic product produced by Roche. In fact, Genius Pharmaceutical Service 'altered/dispensed/diluted' Roche’s original Avastin … [Read more...] about Vietnam records no undesired incidents related to controversial cancer drug

The increase in electricity prices remains a hot topic as it has a major impact on households and businesses alike. Vietnam Electricity (EVN) has proposed another increase in retail electricity prices to compensate for its losses. Speaking at the state capital management in enterprises seminar last week, Nguyen Xuan Nam, vice president of EVN, said, "EVN accepts selling electricity at much lower prices than feed-in-tariffs (FiT). Although electricity prices have climbed three per cent in 2023, it only minimizes some parts of lingering difficulties since 2022. This year, retail electricity prices were not adjusted in a timely manner. As a result, EVN has incurred a loss of $1.48 billion." He added, "EVN's main task is to ensure a sufficient supply of electricity to the economy. However, the company encounters many challenges in mobilising and balancing its capital to fund its initiatives and ensuring safe operation and sufficient electricity supply in the following years. In 2023, … [Read more...] about Adjusting electricity tariff vital to the energy sector

Deputy Foreign Minister Ha Kim Ngoc addresses the conference in Hue city, Thua Thien - Hue province, on September 28. (Photo: VNA) Thua Thien - Hue (VNA) – The Government has strongly ordered ministries, sectors, and localities to provide the best possible conditions for foreign non-governmental organisations (NGOs) to operate effectively and stably, Deputy Foreign Minister Ha Kim Ngoc affirmed at a conference on September 28. The conference, held in Hue city by the Ministry of Foreign Affairs (MoFA) and the Thua Thien - Hue provincial People’s Committee, focused on the implementation of the Government’s Decree No 58/2022/ND-CP, dated August 31, 2022, on the registration and management of foreign NGOs in Vietnam. It was attended by over 200 representatives from ministries, central agencies, localities, and foreign NGOs in Vietnam. Addressing the event, Deputy Minister Ngoc, who is also head of the working committee on foreign NGOs, said foreign NGO affairs form an … [Read more...] about Vietnam provides best possible conditions for foreign NGOs: official