An international workshop on Vietnam's economic prospects until 2025: opportunities and challenges brought by new-generation FTAs (Photo: dangcongsan.vn) Under its 5-year socio-economic development plan until 2020, Vietnam has maintained an annual GDP growth rate of more than 6.8%. Last year’s growth was more than 7% and this year is expected to exceed 7%. Vietnam has achieved the GDP growth target set for the entire period. Inflation has been under control and the public debt ratio has been decreasing. But growth has been heavily dependent on capital. The support industry has grown slowly. The contribution of services with high added value has remained low. Logistics costs are high. Exports depend on foreign-invested enterprises. Most Vietnamese businesses haven’t participated in global value chains and their ability to innovate hasn’t improved much. At a recent international workshop on Vietnam's economic prospects until 2025, many experts pointed … [Read more...] about New-generation FTAs create opportunities, challenges for Vietnam’s economy
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Vietnam – Laos trade hits 940 million USD in ten months
The figure was unveiled at a meeting of permanent Cabinet members in Hanoi on December 7 under the chair of Prime Minister Nguyen Xuan Phuc. The two-way trade is projected to hit 1.1-1.2 billion USD in 2019, up 12.6 percent year-on-year, surpassing the targets of 1 billion USD and 10 percent set by the Government. Vietnam has become the third biggest investor in Laos with 413 projects valued at 4.22 billion USD, with the most outstanding a joint venture of Viettel Military Industry and Telecoms Group (Viettel), projects of Vietnam Rubber Group, Muong Thanh Hotel, Crow Plaza, LaoViet Bank, and Xekaman 1 hydropower plant. PM Nguyen Xuan Phuc speaking at the meeting Besides, Vietnam has committed to providing 3.25 trillion VND (139.8 million USD) in non-refundable aid for Laos during the 2016-2020 period, including 707 billion VND in the 2019 fiscal year, up 18.4 percent against the previous year, aiming to help the neighboring country implement projects on … [Read more...] about Vietnam – Laos trade hits 940 million USD in ten months
Vietnam looks to stronger partnerships with Russia, Belarus
National Assembly Chairwoman Nguyen Thi Kim Ngan A high-ranking delegation of the Vietnamese NA led by top Vietnamese legislator Nguyen Thi Kim Ngan departed Hanoi on December 8 for official visits to Russia and Belarus. Her visit to Russia is made from December 8 – 11 at the invitation of Chairwoman of the Federation Council V. Matviyenko and Chairman of the State Duma of Russia V. Volodin. She will then make an official visit to Belarus from December 12 – 14 at the invitation of Chairman of the Council of the National Assembly Mikhail Myasnikovich and Chairman of the House of Representatives of the National Assembly Vladimir Andreichenko. The visits to the two nations take place in the context that the Vietnam-Russia comprehensive strategic partnership, and the ties of traditional friendship and multifaceted cooperation between Vietnam - Belarus have been incessantly strengthened and seen positive development. Both Russia and Belarus attach importance to and … [Read more...] about Vietnam looks to stronger partnerships with Russia, Belarus
Hanoi Run for Children 2019 supports disadvantaged children nationwide
Hanoi Run for Children 2019 collected nearly 1.2 billion VND to support disadvantaged children with cancer and congenital heart diseases. (laodongthudo.vn) The run was co-hosted by the Vietnam – Canada Friendship Association (VCFA), the Hanoi Union of Friendship Organisations, and the Canadian Embassy in Vietnam. President of the Hanoi Union of Friendship Organisations Nguyen Phuong Nga said the event has connected kindhearted people to support disadvantaged children across the country. “The Run is a community good deed to build a society of compassion. It illustrates the friendly relationship between Hanoi, Vietnam and Canada,” Mrs. Nga said. All the donations will be spent on supporting disadvantaged children with cancer and congenital heart diseases at the Vietnam National Children’s Hospital, the Hanoi Heart Hospital, and the Heartbeat Vietnam of VinaCapital Foundation. … [Read more...] about Hanoi Run for Children 2019 supports disadvantaged children nationwide
Over 300 firms to participate in HCM City machinery, supporting industry fairs
A booth displaying industrial parts at the 2018 Vietnam Supporting Industry Fair (VSIF). This year the VSIF will be held along with the Vietnam International Machinery Fair in HCM City from December 11 to 14. — Photo courtesy of organisers HCM CITY — The 2019 Vietnam International Machinery Fair and 2019 Vietnam Supporting Industry Fair will be held in HCM City from December 11 to 14. The fairs have attracted over 300 exhibitors, including from advanced countries and regions such as South Korea, Japan, Singapore, China, Germany, and Europe. The products on display at the 460 booths will include automation and digital manufacturing solutions, supporting industry products, machinery used in the construction, textile, agricultural, and other sectors, energy and factory equipment, metalworking tools, welding machines, industrial parts and materials, and measuring and testing instruments. Supporting industry products made by Vietnamese firms will account for 30 … [Read more...] about Over 300 firms to participate in HCM City machinery, supporting industry fairs
