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The latter half of the year is set for a substantial rebound, riding on the back of Q2's initial recovery signs. The bank's outlook for 2023 remains steady, with a GDP growth estimate of 5.4 per cent. Standard Chartered anticipates September’s figures to marginally outpace those of August, predominantly buoyed by retail sales. The forecast details an impressive 8.2 per cent annual growth in September's retail sales, though exports might dip by 6.2 per cent. Imports are slated to shrink by 7 per cent, while industrial production growth could see a surge to 3.2 per cent. Furthermore, the trade surplus might slim down to a mere $1.3 billion. The inflation index is set to tick up to 3.2 per cent on-year from August's 3 per cent, steered primarily by the education, housing, and food sectors. Conversely, transport-led inflation appears to be subsiding. In the tourism front, Vietnam welcomed approximately 7.8 million international travellers in 2023's initial eight months, closely … [Read more...] about Vietnam’s Q3 GDP poised for growth, Standard Chartered reports

The article posted on website reporteasia.com wrote that Vietnam and Brazil have maintained long-lasting and stable cooperative relations since the two countries established diplomatic ties on May 8, 1989.(Photo: VNA) Havana (VNA) - Over the past 34 years, relations between Vietnam and Brazil have continuously been developing, with enhanced political trust and mutual understanding, according to an article posted on the website reporteasia.com. Since then, there have been many high-level delegation exchanges between the two nations, notably, the official visit to Brazil in May 2007 by then General Secretary of the Communist Party of Vietnam Nong Duc Manh and the visit to Vietnam in July 2008 by Brazilian President Luiz Inácio Lula da Silva. Leaders of the two nations also met on various occasions, and pledged to further strengthen the bilateral ties. Most recently, Prime Minister Pham Minh Chinh met with President Lula da Silva on the sidelines of the expanded G7 Summit in … [Read more...] about Promising future of Vietnam-Brazil cooperative relations

PM Pham Minh Chinh (R) and French President Emmanuel Macron in the Vietnamese leader's visit to France in 2021. (Photo: VNA) Paris (VNA) – Parliamentary diplomacy is an important link in the cooperation between France and Vietnam, said President of the France-Vietnam Friendship Parliamentary Group (FVFPG) Anne Le Hénanff. France , saying that since upgrading their relationship to a strategic partnership in 2013, the two countries have enjoyed flourishing relations. According to the parliamentarian, diplomatic relations have been marked by the exchange of many high-level delegations, contributing to renewing the strategic partnership . The most recent significant event was Prime Minister Pham Minh Chinh’s visit to France in November 2021. On this occasion, both sides issued a joint statement on further deepening the strategic partnership. The two governments have repeatedly demonstrated a strong political will to promote bilateral cooperation. Vietnam and France … [Read more...] about Parliamentary diplomacy – crucial link in France-Vietnam relations: parliamentarian

Old artifacts are not only valuable, but also a keepsake for many families. Many people would be extremely sad if an artifact was damaged for some reason. In such cases, they may eventually find their way to an expert like Nguyen Khac Duy. Ten years ago, the man, now 34, who lives in Sa Dec City in the Mekong Delta province of Dong Thap, returned to his hometown after completing his military service and assisted his family business in trading artifacts. Noticing that the supply of artifacts was dwindling over time, Duy thought of finding solutions to repair damaged items, which would allow his family to sustain their business for a long time to come. Giving old things a second life In the early days of trying to repair damaged artifacts, Duy's lack of confidence meant he only fixed his own artifacts for fear of further harming customers’ precious items. However, after some time, as the artifacts he repaired became more common, more and more collectors came to ask him to … [Read more...] about In Vietnam, man gives artifacts a second life

Vietnamese Prime Minister Pham Minh Chinh called on Brazilian enterprises to beef up trade and investment activities in Vietnam to fully tap the great cooperation potential between the two countries, with the aim of boosting two-way trade to US$10 billion by 2025. PM Chinh was speaking at a powwow with representatives of Brazilian businesses in Sao Paulo on Sunday morning (local time) after he and his entourage arrived a day earlier for a four-day official visit at the invitation of President Lula da Silva. “The political relationship between our two countries is very good, but trade and investment relations are still not comparable, as there is still a lot of room for cooperation that has yet to be tapped,” the PM said at the event. Last year, the trade turnover between the two countries reached $6.78 billion, with Vietnam mainly importing from Brazil. Such bilateral trade remained modest as Brazil is the largest South American country with a population of 214 million people, … [Read more...] about Vietnam eyes $10bn trade with Brazil by 2025: PM Pham Minh Chinh

Vietnam and Brazil would help each other get into large, dynamic regional markets. Vietnam and Brazil are important to each other in facilitating economic cooperation in the regional markets in which they are represented. Vietnam's Prime Minister Pham Minh Chinh and Brazilian businesses in São Paulo on Sept 24 local time . Photos: Nhat Bac/VGP Vietnamese Ambassador to Brazil Pham Thi Kim Hoa commented on Prime Minister Pham Minh Chinh’s ongoing official visit to Brazil at the invitation of President Luiz Inácio Lula da Silva. She said Brazil is Vietnam’s gateway to Latin American markets , whereas Brazil’s businesses use Vietnam as their entry point into the ASEAN market and other Asian nations. Brazil, with a market of more than 200 million people, has potential for Vietnam and is the leading partner in Latin America. Brazil is Vietnam’s biggest trade partner in Latin America, with a two-way trade of US$6.78 billion in 2022. Vietnam’s export staples … [Read more...] about Vietnam-Brazil relations: Gateways to regional markets

At the meeting between National Assembly Chairman Vuong Dinh Hue and Bulgarian President Rumen Radev in Sofia on September 25 (Photo: VNA) Sofia (VNA) – Vietnam is a trustworthy partner and loyal friend of Bulgaria, affirmed President Rumen Radev while hosting visiting National Assembly (NA) Chairman Vuong Dinh Hue in Sofia on September 25. In response, the top Vietnamese legislator stated Vietnam treasures its traditional friendship with countries in Central and Eastern Europe, with Bulgaria being a priority partner. The two sides agreed that the nations’ close and loyal friendship is a valuable asset that should be preserved and promoted by their leaders and people, including more than 30,000 Vietnamese who have been trained, educated, and worked in Bulgaria and around 1,000 Vietnamese expatriates living in the European country. The Bulgarian President wished to continue strengthening the exchange of information and experience between the two countries in general … [Read more...] about Bulgaria considers Vietnam trustworthy partner, loyal friend: President

On September 22, Vietnam Report unveiled its annual list of the Top 10 Credible Retail Companies for 2023. The rankings, reflected an industry grappling with significant challenges of considerable interest to investors and stakeholders. Since the fourth quarter of 2022, Vietnam’s retail sector has witnessed subdued growth. Profits have been under strain thanks to subdued demand stemming from a dip in public incomes due to export challenges. Additionally, many retailers are navigating the complexities of high interest rates and stringent credit conditions set by consumer finance entities. The fresh survey conducted by Vietnam Report highlighted that almost all businesses (100 per cent) cited weak consumer demand as a concern, with 92.9 per cent noting the persistent economic slowdown. Early 2023 also saw retailers facing fierce price competition, further straining profits. To combat this dip in consumer spending, nearly 64 per cent of retailers plan to launch consumer incentive … [Read more...] about Vietnam’s retail sector faces mounting challenges

Vietnamese players cheer for their victory (Source: vtc.vn) Hanoi (VNA) – The Vietnamese women's national team landed a convincing 6-1 victory over their Bangladesh i rival in their group stage match on September 25 as part of the ongoing the 19th Asian Games (ASIAD) in China. This result gives Vietnam a significant advantage in the race to earn a ticket to the quarterfinals. The women's football event at ASIAD 2023 features 16 participating teams, which are divided into five groups. The top team from each group and the three best second-placed teams will advance to the quarterfinals. Vietnam is placed in Group D, alongside with Nepal, Bangladesh, and Japan – the reigning champions. The squad beat Nepal 2-0 on September 22 and is scheduled to face Japan on September 28./. VNA … [Read more...] about ASIAD 2023: Vietnam women’s football team trounce Bangladesh 6-1

Check out the latest news about Vietnam. European Commission to inspect IUU fishing in Vietnam A delegation from the European Commission (EC) will visit Vietnam on October 10-18 to work with Vietnamese authorities on efforts to prevent illegal, unreported and unregulated (IUU) fishing , the Ministry of Agriculture and Rural Development said on September 25. A high-level dialogue session between the Ministry of Agriculture and Rural Development and the EC working group will take place on October 18, 2023 to discuss the findings of the inspection. Delegates attend the opening ceremony of the Vietnamese Goods Week in Paris. Photo: VNA Vietnamese products promoted at Frech Système U supermarket chain A delegation of 15 Vietnamese enterprises in agriculture, food, and textile industries are promoting their products at the Système U supermarket chain in France as part of the Vietnamese Goods Week in France. The event was inaugurated on September 25 in … [Read more...] about Vietnam news in brief – September 26