Vietnam south china sea conflict

Kevin Coppel, Asia-Pacific managing director (left ) and Christine Li, Asia-Pacific head of research for Knight Frank in Singapore When the US-China trade tensions bubbled over in 2018, corporates found it increasingly difficult to carry out business in China due to sourcing uncertainties and rising costs. This trend only worsened in the face of the pandemic and resulting border closures. Businesses responded by pursuing opportunities to set up bases outside of China while still retaining a stake in one of the world’s strongest economies. The China+1 strategy thus emerged. It is based on diversifying its supply base into other countries in order to minimise the risk of disruptions arising from geopolitical tensions, trade wars and tariffs, as well as rising labour costs. These companies are not abandoning China but rather giving themselves options, enjoying the best of what China and other economies have to offer. In pursuit of the China+1 strategy, the spotlight is naturally … [Read more...] about Will Vietnam become a big geopolitical beneficiary?

Petrol retail prices in the country have been adjusted many times over the past few months, Photo: Le Toan In Vietnam, gasoline prices continue to increase, and after the adjustment on May 11 by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance, each litre of E5 RON92 petrol increased by 6.5 US cents to $1.26 per litre while RON95 climbed by 6.7 US cents to $1.30 per litre. On May 17, the price of US WTI crude oil remained at a high level of over $114 per barrel while Brent oil maintained its upward momentum at $114.28 per barrel. Before the next adjustment, which was due on May 21, petrol prices in Vietnam were forecast to continue to increase to higher levels. The ministries first adjusted gasoline prices on January 11 due to a decrease in global supply, production output by Kazakhstan and Libya, and oil inventories of the United States. According to Decree No.95/2021/ND-CP, effective from January, there will be three adjustments each month to the … [Read more...] about Vietnam riding the wave of inflationary unpredictability

Vietnam expecting to spend even more on imports - illustration photo Southeast Asia is facing rising inflation, a problem that is exacerbated by the failure of energy and food prices to fall. Last month, the Monetary Authority of Singapore (MAS) tightened monetary policy for the third time since October to deal with inflation that is expected to heat up. According to analysts, the MAS has redefined the midpoint of the popular exchange rate policy band and slightly increased the slope of currency appreciation to help the Singapore dollar strengthen against the currencies of other countries. However, the MAS did not change the width of its policy band – a move the institution usually would take when markets are volatile. As a result, the Singapore dollar rose about 0.5 per cent to $1.35 after the MAS’ move. The agency considered the possibility that core inflation would pick up sharply in the coming months, before being revised later this year, due to the sharp increase in … [Read more...] about Vietnam expecting to spend even more on imports

Illustrative image This has led to a new consensus from different development economies for the need to reduce dependency on one source and improve integration among various countries. However, the process of reducing dependency has led to rising inflation, labor shortages, more regional protectionism, and fluctuating shocks in the global financial world. Under such an unpredictable scenario in global trade it would be surprising if countries such as Vietnam will participate in a monetary system that would be chosen for a global trade chain. New global trends It was not until the 19th century that global integration began to develop. However, this trend of globalization eventually waned and collapsed during World War I, and was followed by postwar protectionism, the Great Depression, and finally the long and brutal World War II. When World War II ended in the mid-1940s, the United States led the efforts to restore international trade and investment under several set ground … [Read more...] about Vietnam has choices under new global trends

Global food prices are expected to keep on rising this year due to the Ukraine conflict and other factors, Photo: Thanh Tung China’s National Bureau of Statistics (NBS) said on May 11 that the consumer price index (CPI), the main measure of inflation and retail sales, increased by 2.1 per cent on-year in 2021 due to the impact of the recession and skyrocketing energy costs and food prices. Data released by the General Administration of Customs of China on April 13 recorded a decrease in China’s imports for the first time since August 2020. In March, China’s imports fell 0.1 per cent on-year. Assoc. Prof. Dr. Vu Sy Cuong from the Academy of Finance warned last week, “Along with the conflict in Ukraine, China’s economic difficulties could exacerbate inflationary pressures in Vietnam.” China’s slowing growth is clearly felt by many manufacturing and export industries of Vietnam. Pham Van Viet, president of garment firm VitaJean Co., Ltd., said, “Restrictions on raw materials … [Read more...] about Global effects mar control of inflation

At the talks, the two sides highly appreciated the outcomes of the cooperative relations between the two countries’ ground forces, which have contributed to promoting the Vietnam-Japan defense cooperation in an intensive, practical and effective manner. Lieutenant General Nguyen Van Nghia affirmed that the General Staff of the Vietnam People’s Army is ready to collaborate with the Japanese Ground Self-Defense Force to effectively carry out cooperation activities, including support to raise the capacity of conducting U.N. peacekeeping operations, search and rescue and military medicine activities. For his part, General Yoshida Yoshihide strongly believed that with great care and support of defense leaders of the two countries and the activeness and pro-activeness of relevant agencies and units, the bilateral defense cooperation in general and cooperation between ground forces in particular will continue developing in line with the Vietnam-Japan strategic partnership in the new … [Read more...] about Vietnamese and Japanese ground forces promote cooperation

What you need to know today in Vietnam: Politics -- Vietnam's Assistant Minister of Foreign Affairs Do Hung Viet and Israel's Ministry of Foreign Affairs’ Political Director Alon Bar co-chaired the fourth political consultation conference between the two ministries via videoconference on Thursday, according to the Vietnam News Agency . Society -- The Ho Chi Minh City Department of Health issued a document on Thursday urging the local healthcare system to beef up monitoring of people coming from abroad, especially from countries where monkeypox cases have been recorded, at borer gates to timely repond to any infection found. -- Many trees were uprooted and advertising boards were blown off when rains and strong winds hit Ho Chi Minh City on Thursday evening. -- Three died and one was injured as a house wall collapsed in Vinh Phuc Province, northern Vietnam on Thursday, according to local authorities. -- The Economic Committee of the National Assembly has just … [Read more...] about Breakfast @ Tuoi Tre News – May 27

Bắc Giang estimates lychee output at about 180,000 tonnes this year, harvesting from May 20 until July 20. — VNA/VNS Photo HÀ NỘI — Enterprises expect the export of lychees this year to increase by about 30 per cent this year. As an enterprise specialising in exporting vegetables and fruit to fastidious markets such as Japan and the EU, Ameii Vietnam Joint Stock Company (Ameii Vietnam) has strengthened control of exports and is seeking new customers. Now, the company is negotiating with customers and is expected to increase lychee exports by about 30 per cent compared to last year, said Ameii Vietnam general director Ngô Thị Thu Hồng. Notably, this year's lychee exports to fastidious markets such as Japan and the EU are expected to grow. Hồng said Ameii Vietnam was working with more than 20 Japanese partners and more than 10 EU partners to export this fruit. The company has mainly exported fresh lychees every year. However, this year, besides fresh lychees, it has used … [Read more...] about Enterprises expect strong growth in lychee exports

Football Goalkeeper Nguyễn Văn Toản (second, right) celebrates with teammates after Việt Nam won the men's football gold medal of the 31st SEA Games. VNA/VNS Photo Thanh Hà Nguyễn Văn Toản unpacked his items, changed his clothes and quickly picked up his shoes to join his teammates in the hotel lobby. Toản and the rest of the U23 team are in Dubai to train ahead of the Asian U23 Championship, which begins in Uzbekistan next month. They are seeking their first continental title after winning the Southeast Asian Games, where Toản kept a clean sheet throughout the entire tournament. “I am really happy to win this valuable gold medal on home ground,” Toản said. “It is my second SEA Games gold. “Not only me but also all teammates have had good preparation for this Games. We focused totally and competed well in all matches. This success was due to the strong effort of the coaching board and players, plus a little luck. “Thank you, thank you the supporters who came along … [Read more...] about Record-holder Toản looks ahead to continental challenge

Deputy Prime Minister Phạm Bình Minh delivers a speech at the 27th International Conference on the Future of Asia in Tokyo on Thursday. — VNA/VNS Photo Đào Thanh Tùng TOKYO — Deputy Prime Minister Phạm Bình Minh proposed that Asia strengthen its responsibility in keeping and creating a peaceful and sustainable environment for development and prosperity in the region and the world. This should be based on cooperation, understanding, trust, and responsibility, he said, while delivering a speech at the 27th International Conference on the Future of Asia (FOA 2022) in Tokyo on Thursday. He said, entering the third decade of the 21st century, the Asian region is witnessing profound historical changes, with both opportunities and challenges that have long-term impacts on future generations. As the region and the world are focusing resources to handle urgent unprecedented issues, first and foremost, countries need to make responsible contributions, show mutual respect, and equally … [Read more...] about Việt Nam calls for Asia to create peaceful, sustainable environment for world prosperity