World economic outlook

Thailand’s Prime Minister Srettha Thavisin is welcomed by Cambodia n Prime Minister Hun Manet (second from left). (Photo from Prime Minister Hun Manet’s Facebook) Phnom Penh (VNA) - Economic cooperation was the centre of discussion at talks between Cambodian Prime Minister Samdech Thipadei Hun Manet and his Thai counterpart Srettha Thavisin during the latter's first official visit to the neighbouring country. The two leaders discussed comprehensive cooperation between the two countries, according to a statement released following the talks on September 28. The talks focused on many important areas including trade, investment, tourism, education, vocational training, diplomacy, business relations, people-to-people exchanges, air, railways and roads connectivity, digital economy and green economy as well as issues related to immigration, cross-border security and cyber security. The two PMs also instructed relevant ministries and agencies of the two countries to … [Read more...] about Cambodian, Thai PMs agree to strengthen economic ties

A foreign-invested footwear material factory in Thuan An city, Binh Duong province (Photo: VNA) Hanoi (VNA) – Many foreign press agencies have run articles featuring Vietnam’s economic growth, pointing to rosy signs in its recovery. French wire service AFP cited statistics by the General Statistics Office (GSO) showing the economy grew 5.33% in the July-September period from a year earlier, and that loan interest rate reductions, an extension of tax payments and increased public investment had a positive impact. Nikkei Asia also said the growth was accelerated thanks to tourism, noting “the services sector helped boost economic output during the three months through September, driven mainly by retail and tourism. The sector is estimated to account for about 40% of Vietnam's GDP.” “Travelers returned to popular destinations like the central city of Da Nang, with the number of foreign visitors entering the country from July to August reaching 2.25 million, already … [Read more...] about Foreign media upbeat about Vietnam’s economy

Vietnam’s GDP in the first nine months of this year rises by 4.24% year-on-year. (Photo: VNA) Hanoi (VNA) – Vietnam’s gross domestic product (GDP) in the first nine months of this year rose by 4.24% from the same period last year, the General Statistics Office (GSO) announced on September 29. In the third quarter, the country's economic growth rate was estimated at 5.33% compared to the same quarter of 2022. The GSO assessed that although the nine-month growth rate is only higher than those in the same period of 2020 and 2021 in the past 12 years, it showed a positive trend of increasing gradually over the quarters: 3.28% in the first quarter, 4.05% in the second quarter and 5.33% in the third quarter. In the January-September period, the agro-forestry-fishery sector expanded by 3.72%, contributing 8.03% to the total added value of the entire economy. The growth rates of the industrial and construction sector and the service industry were 5.19% and 6.24% with … [Read more...] about Vietnam’s nine-month GDP increases by 4.24%

The formulation of capital planning is an integral component of Hanoi's endeavors to achieve its developmental goals by 2030, with a forward-looking perspective reaching to 2045. Hanoi commits to transforming into a globally interconnected metropolis by 2045, serving as the country's visage, said Deputy Secretary of the Hanoi Party Committee Nguyen Van Phong at a scientific conference on the Hanoi Planning Orientation for 2021-2030 , with a vision to 2050, held today [September 29]. Overview of the conference. Photos: Thanh Hai/The Hanoi Times Phong said the city's goal is not merely to vie for supremacy with other provinces and cities in the country but to position itself globally, comparable to countries in Asia and the world. During the conference, Deputy Chairman of the Hanoi People's Committee Ha Minh Hai said that the formulation of the capital planning for the 2021-2030 period, with a vision to 2050, is an integral component of Hanoi's endeavors to … [Read more...] about Hanoi aspires to become a global city

Speaking at the opening of the event held in Quang Ninh Province, he emphasized the importance of developing science, technology and innovation. Hundreds of delegates from ministries, businesses and production units and scientists were in attendance to learn about breakthrough technologies and solutions. Before the opening, Deputy Prime Minister Tran Luu Quang, Dat, other Party and state leaders, their counterparts from the Quang Ninh Province Party Committee, People's Council and People's Committee, and ministry and other officials visited the booths set up at an exhibition that is part of the event. Nearly 200 booths showcased technological devices and solutions. Quang called for ensuring products are also competitive in terms of prices. "The product might be good, but the price must also be lower than in foreign markets," he said while visiting the booth set up by auto company Thanh Cong Group. Minister of Science and Technology, Huynh Thanh Dat speaks at the … [Read more...] about Technology is foundation for Vietnam’s rapid, sustainable development: minister

The two-day event features a premium networking event as well as bringing together leaders from Cambodia, Laos, Thailand, and Vietnam to promote economic integration within the region and the rest of the world. Martin Brisson, Executive Director of EuroCham Cambodia, said that the purpose of the event was to promote Cambodia as an alternative investment destination to European companies. At the summit, EuroCham Cambodia will release its 2024 White Book, a comprehensive list of policy recommendations covering 12 sectors, as well as its 2023 Business Confidence Survey, a detailed survey among business leaders in Cambodia. EuroCham Chairman Tassilo Brinzer presented the White Book to Cambodian Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth. After diving into the White Book, keynote addresses were given on Cambodia’s investment goals and strategy and EU updates on trade and investment policy with Cambodia. Cambodian Minister of Commerce Cham Nimul also … [Read more...] about ASEAN-Cambodia Business Summit held in Phnom Penh

Đinh Đức Thắng, Chairman cum CEO of Stavian Quảng Yên Petrochemical Joint Stock Company, received technology transfer licenses under the witness of Deputy Prime Minister Trần Lưu Quang. — Photo courtesy of the firm The Stavian Quảng Yên Petrochemical Plant Project officially received the technology transfer licences for petrochemical technology to produce polypropylene (PP) resins from the Quảng Ninh Department of Science and Technology at Techconnect and Innovation Việt Nam 2023, under the witness of Deputy Prime Minister Trần Lưu Quang. Techconnect and Innovation Việt Nam 2023, with the theme “Innovation - Sustainable Development”, is a national-level event of significant importance, supporting businesses in the province to connect, transfer, and receive modern technologies to serve socio-economic development. The Stavian Quảng Yên Petrochemical Plant is being built on an area of 30ha in Bắc Tiền Phong Industrial Park, Tiền Phong Commune, Quảng Yên Town, Quảng Ninh Province. … [Read more...] about Quảng Yên Petrochemical plant granted technology transfer licences

Foreign NGOs are also ambassadors who help spread the image of Vietnam and the Vietnamese to the world. The Vietnamese Government has asked ministries, departments and localities to create the best conditions for foreign non-governmental organisations (NGOs) to operate effectively and stably, Deputy Foreign Minister Ha Kim Ngoc told a conference on September 28. As head of the Working Committee on Foreign NGOs, Deputy Minister Ngoc stressed that foreign NGO affairs are an important part of Vietnam's development and foreign policies. "The Vietnamese Government has been paying attention to foreign NGO affairs in order to perfect legal regulations and policies in this field. The promulgation of Decree No. 58 was part of these efforts," he said, adding that various activities have been carried out to disseminate and implement the decree. Ngoc noted that the conference was the first held by the Ministry of Foreign Affairs to implement the decree. Deputy … [Read more...] about Vietnam creates best conditions for foreign NGOs

Hanoi plans to host more international music festivals, reinforcing its brand as a UNESCO Creative City. Several major music festivals are to be held in Hanoi and Ho Chi Minh City in the last three months of 2023, to build cultural brands and lure domestic and international tourists. The golden girls of the Korean BlackPink Band successfully held a two-night performance in Hanoi last month. Photo: Some Where In Hanoi However, hosting music events on a yearly basis - contributing to the development of the cultural industry - requires significant ground-breaking efforts. Building cultural brands In major cities worldwide, countless cultural events and music festivals are held each year, creating rendezvous and building their brands. Hanoi is not left out of this trend. In addition to Vietnamese rappers Suboi, JustaTee and MCK, the festival will feature the former lead singer of world-famous boy band Boyzone, Ronan Keating , and South Korean … [Read more...] about Branding music festivals requires breakthrough solutions

An example of a SkyX Solar collaboration with An Phat At a seminar from September 12 to 17, held by the World Sports Goods Industry Federation and the Vietnamese Delegation in Geneva, distinguished brands like Adidas and Decathlon spotlighted Vietnam's crucial role in sustainable manufacturing, praising its robust workforce and rapid assimilation of advanced technologies. Leveraging its National Strategy for Green Growth 2021-2030, Vietnam is making substantial strides towards its sustainable development goals, with an emphasis on evolving its textile and footwear industries by 2035 to align with a circular economic model. This commitment resonates deeply with international sustainability standards, enhancing Vietnam's influence in the sustainable supply chain sector. The role of green certificates – which are emblematic of sustainable and responsible production and the use of renewable energy – is becoming increasingly crucial in today’s market. These certificates are … [Read more...] about SkyX Solar steers sustainable shifts with green IZ and certification in Vietnam