Economic hub

Fishing on a flooded field in Vi Thuy district of the Mekong Delta province of Hau Giang (Photo: VNA) Hanoi (VNA) – The Politburo recently issued Resolution No. 13/NQ-TW on orientations for socio-economic development and defence - security safeguarding in the Mekong Delta until 2030, with a vision to 2045, aiming to make development breakthroughs across the region. The Mekong Delta comprises Can Tho city and the provinces of An Giang, Dong Thap, Long An, Tien Giang, Vinh Long, Ben Tre, Tra Vinh, Soc Trang, Hau Giang, Bac Liêu, Ca Mau and Kien Giang. It is one of the largest and most fertile deltas in Southeast Asia and the world. At a conference on the implementation of Resolution No. 13/NQ-TW on April 22, Party General Secretary Nguyen Phu Trong emphasised several advantages of this region, including its strategic location. The Delta is next to the southeastern region, including Ho Chi Minh City - the southern economic hub of Vietnam, and adjacent to Cambodia … [Read more...] about Mekong Delta hoped to see development breakthroughs

Greece lies at the juncture of Europe, Asia, and Africa, connecting important global trade routes. Greece hopes to expand trading relations with Vietnam after the ongoing visit paid by Greek President Katerina Sakellaropoulou. Greek President Katerina Sakellaropoulou welcomed in Hanoi on May 16. Photos: The World and Vietnam The Hellenic Republic expects to be a gate for Vietnamese goods to the European Union (EU) harnessing the EU-Vietnam Free Trade Agreement (EVFTA), according to Greek Ambassador to Vietnam Georgios Stilianopoulos, noting that Greece is one of the first countries ratifying the partnership and cooperation agreement (PCA) and approved the EU-Vietnam Investment Protection Agreement (EVIPA). Its geography allows Greece to connect to Europe, the Middle East, and the Black Sea, Stilianopoulos said, stressing that the Covid-19 pandemic has prompted a surge in demand for flexible supply chains. Being an EU member located at the juncture of the … [Read more...] about Greece wants to be transshipment hub for Vietnam goods to EU

Easing weeks of punishing restrictions in the commercial hub would bring relief to China's battered economy, although there is growing concern that Beijing may yet take a similar course of action if it fails to get a nascent outbreak under control. Shanghai's deputy mayor, Wu Qing, said the city of 25 million aims to eliminate Covid outside of quarantined zones within the next week or so. After that, the city's lockdown will be "lifted in batches", with shops opened and traffic restictions eased, he said in the announcement which confirmed a Reuters story from Sunday. The vast majority of Shanghai's more than 2,000 new cases are in areas already under the tightest controls, while those found in the relatively freer communities are the ones most closely watched for clues as to where Shanghai's outbreak is heading. The number of such cases rose to four on May 12, up from two the previous day. Last week, some of Shanghai's residents were allowed outside their housing compounds … [Read more...] about Shanghai aims to defeat Covid over next week as Beijing hunkers down

The Biden administration's proposed Indo-Pacific Economic Framework (IPEF) aims to offer a U.S.-led platform for negotiating common regional standards around digital trade and data flows, labor standards, carbon emissions reductions and governance. But to the chagrin of some countries and business groups, it will not reduce tariffs between members or include traditional enhancements to market access. Azmin Ali, Malaysia's minister of international trade and industry told Reuters in an interview that the newly launched Regional Comprehensive Economic Partnership (RCEP) gives companies the ability to use Malaysia as a hub to access a market comprising a third of the world's population and a third of global GDP output. "It represents almost 2.3 billion people under RCEP," Azmin said. "So again, we would like to invite these big companies to come to Malaysia and to use Malaysia as a gateway to penetrate a bigger market access and also to enjoy lower tariffs in terms of our export … [Read more...] about Malaysia touts trade access as US Indo-Pacific plan only a ‘good beginning’: trade chief

A view of HCM City. Many banks have temporarily ceased lending to the property sector. — Photo vneconomy.vn Deputy Governor of the State Bank of Viet Nam, Dao Minh Tu, announced at the Government’s March press conference that credit growth in the first quarter of the year had been 5.04 per cent, much higher than the 2.16 per cent rise in the same period last year. He described it as a “quite positive result” that showed the economy had made a significant recovery with people’s lives and businesses returning to normal thanks to the Government’s effective measures against the COVID-19 pandemic. According to a report by the SBV’s HCM City office, credit growth in the country’s main economic hub was estimated at 3.65 per cent in the first quarter. The positive performance has encouraged many banks to set high goals for the full year. At its annual general meeting on March 16, VIB approved a growth target of 30 per cent, much higher than the cap of 14 per cent set by the central … [Read more...] about Not lending to property sector will have mixed effects: analysts

Mark Ratcliff, sustainability specialist at Except Integrated Sustainability Whether we acknowledge it or not, sustainability is and always has been our most important goal. Collectively, we have gotten away with pushing it aside for too long. We can no longer ignore it, but realizing sustainability beyond a marketing slogan is easier said than done. Many countries are falling behind, and without a systemic shift to a more long-term mindset, Vietnam will also flounder and fail to achieve its bold National Green Growth Strategy for 2021-2030. Nevertheless, things are not as gloomy as they seem. Except Integrated Sustainability, a Dutch consultancy and design firm, has initiated ViCo, Vietnam’s first sustainability community for innovation. It aims to bolster worldwide partnerships, enhance learning, and help with new joint business models to support the shift to sustainability and attract more funding. Vietnam is perfectly positioned to prosper and, with the support of ViCo, … [Read more...] about Supporting Vietnam’s strive for sustainability

At the event in HCM City (Photo: VNA) He made the pledge while joining virtual talks with Premier of Victoria Daniel Andrews and the signing ceremony of an agreement on friendship and cooperation between the city and Victoria. Speaking at the event, the HCMC official expressed his delight at the thriving Vietnam-Australia relations, viewing them as the cornerstone of sound cooperation between the Vietnamese southern economic hub and Australian localities, including Victoria state. He thanked Victoria’s authorities for supporting and working with HCMC to prepare for the signing ceremony, hoping that after the event, the two localities will join hands to carry out cooperation plans and programs contributing to Vietnam-Australia ties in the coming time. Chairman of the HCM City People’s Committee Phan Van Mai holds the signed agreement. (Photo: SGGP) Mai affirmed that the southern city welcomes visits by authorities and businesses from the Australian state to explore … [Read more...] about HCMC bolsters cooperation with Australian state

At the event in HCM City (Photo: VNA) HCM City (VNA) - Ho Chi Minh City will spare no efforts to translate its cooperation plans with the state of Victoria in Australia , Chairman of the municipal People’s Committee Phan Van Mai said on May 16. He made the pledge while joining virtual talks with Premier of Victoria Daniel Andrews and the signing ceremony of an agreement on friendship and cooperation between the city and Victoria. Speaking at the event, the HCM City official expressed his delight at the thriving Vietnam-Australia relations , viewing them as the cornerstone of sound cooperation between the Vietnamese southern economic hub and Australian localities, including Victoria state. He thanked Victoria’s authorities for supporting and working with HCM City to prepare for the signing ceremony, hoping that after the event, the two localities will join hands to carry out cooperation plans and programmes contributing to Vietnam-Australia ties in the coming time. … [Read more...] about HCM City bolsters cooperation with Australian state

Chairman of the People’s Committee of HCMC Phan Van Mai speaks at the conference. The statement was made at a virtual conference on the implementation of the Politburo's Resolution No.06-NQ/TW dated January 24, 2022 on planning, construction, management and sustainable development of urban areas in Vietnam to 2030 with a vision to 2045” that was held by the Party Central Committee's Secretariat on May 18. The video conference saw the presence of Politburo member and standing member of the Party Central Committee’s Secretariat Vo Van Thuong, Chairman of the Party Central Committee's Economic Commission Tran Tuan Anh, Head of the Central Propaganda and Education Department Nguyen Trong Nghia and Deputy Prime Minister Le Van Thanh. Participants located in HCMC accessing the live meeting included HCMC Party Committee Secretary Nguyen Van Nen, Chairman of the People’s Committee of the city Phan Van Mai and Chairwoman of the municipal People’s Council Nguyen Thi Le. Speaking at … [Read more...] about HCMC needs special mechanisms to attract strategic investors: City’s Chairman

The lobby of OfficeHaus in Tan Phu District, HCM City. The city's office market recovers after two years being affected by COVID-19 pandemic. — Photo courtesy of OfficeHaus After a two-year slump due to COVID-19, the HCM City office for lease market is showing positive signs with demand increasing in all segments. A CBRE report said there was good recovery in the office market with total net absorption in the first quarter of 17,000 square metres (sq.m), equivalent to 32 per cent in 2021. Relocation accounted for 55 per cent of the transactions, lease renewal for 25 per cent and expansion for 20 per cent, it said. There were transactions for large areas in some high-quality grade B buildings in both the CBD and other hubs such as Thu Thiem new urban area, District 7 and District 10, the company said. Savills said demand for office space was 16,500sq.m compared to just 1,500sq.m in the fourth quarter of 2021. It partly attributed the increase to the city’s post-pandemic … [Read more...] about HCM City office market coming out of slump: property  consultancies