Vietnam continues to benefit from its broad re-opening strategy, which saw a huge crowd flocking to tourist hotspots in the country and household spending rebound. Vietnam’s economic recovery is gaining momentum despite heightened global uncertainty related to the protracted war in Ukraine, higher commodity prices, and tightening global financial conditions, according to the World Bank. Cargo handling at Dinh Vu port, Haiphong. Photo: Cong Hung In its latest report, the World Bank pointed out the robust growth of industrial production by 9.4% in April, comparable to pre-pandemic rates. Manufactures of apparel, footwear, electronics, electrical equipment, and metal products were the most dynamic sub-sectors, registering double-digit growth rates, it added. However, machinery manufacturing slowed from 26.6% year-on-year in March to only 5.1% in April. This deceleration was related to supply chain disruptions caused by lockdowns in China, which led to a … [Read more...] about Vietnam’s economic recovery gaining momentum
Headlines january 2018
Vietnam, Laos boost construction of road linking two capital cities
There should be special mechanisms for economic ties between the two countries. The governments of Vietnam and Laos are closely working on the construction of the Hanoi-Vientiane expressway project that will facilitate sea access to land-locked Laos. Chairman of Vietnam’s National Assembly Vuong Dinh Hue speaks with Vietnamese businesses in Laos on May 15. Photos: Quochoi The information was released by Chairman Vuong Dinh Hue of Vietnam’s National Assembly who is on his three-day visit to Lao starting on May 15. Hanoi-Vientiane expressway, which is being built with funding from Japan, will enable Laos to access the sea in Vung Ang Seaport, Vietnam’s central province of Ha Tinh. Launched in 2016, the 725-km project, with an estimated investment of US$4.5 billion, is expected to boost economic connectivity between the two countries and Thailand’s northeast. Hue said the two countries' economic ties need to be boosted to become commensurate to the strong … [Read more...] about Vietnam, Laos boost construction of road linking two capital cities
Vietnam – Laos trade ties growing sustainably
During the 2016-2020 period, the two-way trade saw stable expansion and reached the target of over 1 billion USD, but then suffered from the impact of the COVID-19 pandemic and natural disasters. The Asia-Pacific Market Department at the Vietnamese Ministry of Industry and Trade (MoIT) said that the bilateral trade exceeded 1 billion USD in 2020, down 11.5 percent year-on-year, of which Vietnam’s exports were worth 571.7 million USD, down 18.5 percent. However, the bilateral trade bounced back since early 2021, surging 33.3 percent to 1.37 billion USD for the year, with Vietnam’s export revenue reaching 594.7 million USD, a rise of 4 percent from 2020, and its import hitting 778.2 million USD, up 69.8 percent. The results are attributable to the political resolve by Vietnamese and Lao leaders and the drastic management of competent agencies to remove obstacles facing businesses of the two countries and create optimal conditions for them to quickly adapt to the new situation. In … [Read more...] about Vietnam – Laos trade ties growing sustainably
FPT Software opens 10th office in the US
Prime Minister Pham Minh Chinh attended the opening ceremony of FPT Software's new office in New York City Speaking at the ceremony, Prime Minister Pham Minh Chinh stressed the importance of the event in the context of Vietnam’s rapid recovery after the pandemic, showing the country’s sustainable socioeconomic development with a focus on technology and innovation. The PM believed that FPT would develop faster and stronger, contributing to the development of science and technology among Vietnam’s businesses. Dang Tran Phuong, CEO of FPT Americas said, “This is a milestone asserting our rapid and strong growth in the world's largest economy. In the next three years, we expect the new office to contribute 20 per cent of FPT Software's total revenue in the US, with the number of employees working directly with US reaching 5,000 people." This is FPT Software's 10 th office in the US and the company's 58 th worldwide. The new office is located at 295 Madison Avenue in New York … [Read more...] about FPT Software opens 10th office in the US
First Vietnamese woman reaches summit of Mount Everest
Nhã during her trip to conquer Vinson Massif, Antarctica in January 2022. — Photo courtesy of Nguyễn Thị Thanh Nhã NEPAL — Nguyễn Thị Thanh Nhã, also known as Céline Nha Nguyen, has become the first Vietnamese woman to conquer the summit of Mount Everest, according to Nepal-based mountaineering company Seven Summit Treks. Thaneswar Guragai, manager of Seven Summit Treks, confirmed that Nhã had summited Everest at around 3.30 am local time this morning. A representative from the company congratulated her and highlighted that she is the first Vietnamese woman to reach the summit of Everest, noting that this is a historic achievement for the Vietnamese climbing community. Nhã (fourth from the left) and the Everest conquering team. — Photo courtesy of Seven Summit Treks Nhã, a lawyer from Hồ Chí Minh City, aspires to conquer the 'Seven Summits' - the seven highest mountains in the world. In January this year, she successfully conquered Vinson Massif , which … [Read more...] about First Vietnamese woman reaches summit of Mount Everest
Vietnamese, Lao N.A.s share experience in designing post-pandemic socio-economic recovery policies
The Lao N.A. leader said that the event is a good chance for both sides to learn from each other to promote post-pandemic socio-economic recovery and development. For his part, N.A. Chairman Hue underlined that COVID-19 pandemic has posed problems to most countries around the world, including Laos and Vietnam. He highlighted the Vietnamese N.A.’s close coordination with the Government and relevant agencies to collect ideas from voters, people, experts, scientists and the business community inside and outside the country on measures to respond to the pandemic. He noted that the Vietnam Economic Forum held in 2021 connected a large number of experts and scientists who shared practical experience and suggested policies for Vietnam. In January, the N.A. of Vietnam held an extraordinary session to consider a number of important issues regarding socio-economic development, including new, breakthrough policies, as well as the launch of a 347-trillion VND (about 17 billion USD) package … [Read more...] about Vietnamese, Lao N.A.s share experience in designing post-pandemic socio-economic recovery policies
Việt Nam-Laos trade ties growing sustainably
Steel production at Việt-Đức Steel JSC's factory in Vĩnh Phúc Province. Việt Nam mainly ships iron and steel to Laos. — VNA/VNS Photo Nguyễn Trọng Lịch HÀ NỘI — Since the establishment of bilateral diplomatic ties in 1962, Việt Nam and Laos have promoted cooperation across numerous spheres, with their trade exchange posting substantial growth, benefiting both countries. During the 2016-20 period, the two-way trade saw stable expansion and reached the target of over US$1 billion, but then suffered from the impact of the COVID-19 pandemic and natural disasters. The Asia-Pacific Market Department at the Vietnamese Ministry of Industry and Trade (MoIT) said that the bilateral trade exceeded $1 billion in 2020, down 11.5 per cent year-on-year, of which Việt Nam’s exports were worth $571.7 million, down 18.5 per cent. However, the bilateral trade bounced back since early 2021, surging 33.3 per cent to $1.37 billion for the year, with Việt Nam’s export revenue reaching $594.7 … [Read more...] about Việt Nam-Laos trade ties growing sustainably
Vietnamese, Lao NAs share experience in designing post-pandemic socio-economic recovery policies
National Assembly Chairman Vuong Dinh Hue (L) and his Lao counterpart Saysomphone Phomvihane co-chair the event. (Photo: VNA) Vientiane (VNA) – National Assembly Chairman Vuong Dinh Hue and his Lao counterpart Saysomphone Phomvihane co-chaired a conference to share experience in designing mechanisms and policies supporting post-pandemic socio-economic recovery and development in Vientiane on May 16. The Lao NA leader said that the event is a good chance for both sides to learn from each other to promote post-pandemic socio-economic recovery and development. For his part, NA Chairman Hue underlined that COVID-19 pandemic has posed problems to most countries around the world, including Laos and Vietnam. He highlighted the Vietnamese NA’s close coordination with the Government and relevant agencies to collect ideas from voters, people, experts, scientists and the business community inside and outside the country on measures to respond to the pandemic. He noted that … [Read more...] about Vietnamese, Lao NAs share experience in designing post-pandemic socio-economic recovery policies
SEA Games 31: Vietnam’s athletics top Southeast Asia: Singaporean newspaper
Vietnam's Nguyen Thi Huyen (836) wins the women's 400m (Photo: VNA) Singapore (VNA) – Singapore ’s Straits Times newspaper on May 15 ran an article spotlighting the progress and successes of Vietnam’s athletics at the Southeast Asian Games (SEA Games). The article by Sazali Abdul Aziz reported that after two days of track and field competitions at the SEA Games 31 in Hanoi, Vietnam topped the medal table. For nearly two decades following Thailand, Vietnam finally usurped their rivals to emerge as the top nation in athletics in the 2017 Games in Malaysia. They followed it up with another table-topping show two years later in the Philippines, and are looking to make it three in a row. Vietnam are aiming for at least 15 gold medals out of 47 on offer and already won nine as of late May 15, nearly double that of the Thais, who are the next-best nation with five. The author cited Nguyen Manh Hung, general secretary of the Vietnam Athletics Federation, as saying … [Read more...] about SEA Games 31: Vietnam’s athletics top Southeast Asia: Singaporean newspaper
Viet Nam-Laos trade ties growing sustainably
Steel production at Viet-Duc Steel JSC's factory in Vinh Phuc Province. Viet Nam mainly ships iron and steel to Laos. — VNA/VNS Photo Nguyen Trong Lich Since the establishment of bilateral diplomatic ties in 1962, Viet Nam and Laos have promoted cooperation across numerous spheres, with their trade exchange posting substantial growth, benefiting both countries. During the 2016-20 period, the two-way trade saw stable expansion and reached the target of over US$1 billion, but then suffered from the impact of the COVID-19 pandemic and natural disasters. The Asia-Pacific Market Department at the Vietnamese Ministry of Industry and Trade (MoIT) said that the bilateral trade exceeded $1 billion in 2020, down 11.5 per cent year-on-year, of which Viet Nam’s exports were worth $571.7 million, down 18.5 per cent. However, the bilateral trade bounced back since early 2021, surging 33.3 per cent to $1.37 billion for the year, with Viet Nam’s export revenue reaching $594.7 million, a rise … [Read more...] about Viet Nam-Laos trade ties growing sustainably