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T&Y SuperPort Vinh Phuc SC (T&Y) – a joint venture between YCH Group and Vietnamese conglomerate T&T Group – inked two MoUs with VNA and VNR on August 12 to embark on the first multimodal connectivity partnerships for the first-of-its-kind smart logistics infrastructure project in Asia – Vietnam SuperPort – that is slated for completion by 2025. Vietnam SuperPort is the first multimodal infrastructure project invested in by a Singaporean firm in Vietnam. The project is expected to strengthen logistics and supply chain connectivity in the ASEAN region with the adoption of technologies and innovative solutions and driven by the strong economic ties made possible by the close partnership between Vietnam and Singapore and the strong business connections between the two nations. Executive chairman of YCH Group Robert Yap said, “The MoUs with VNA and VNR are an important milestone for Vietnam SuperPort. For a smart logistics infrastructure project of this stature, … [Read more...] about Vietnamese and Singaporean firms partner to improve supply chain connectivity

Double digit export growth According to the Hanoi People’s Committee, the export turnover of goods in June 2022 reached about US$1.517 billion, up 6.8 percent from May 2022 and 17.5 percent from June 2021. In the first half of this year, the commodity exports turnover reached US$8.3 billion, up 17.1 percent over the first half of 2021. Some key items with increased export turnover in this period included textile and garment, reaching US$1.22 billion, up 29.6 percent; computer components and peripherals, US$1.072 billion, up 20.2 percent. The total import turnover of goods hit US$3.675 billion in June and US$20.5 billion in the first six months of 2022, the latter of which is 24.5 percent higher than the same period in 2021. Among the items of highest value were machinery, equipment and spare parts reaching US$2.996 billion, down 5.6 percent; petroleum US$2.934 billion, 2.8 times higher than the same period in 2021; computers, electronic goods and components at US$1.535 … [Read more...] about Hanoi helps firms implement trade deals

The Strategic Framework for Sustainable Development Cooperation 2022-2026 (CF) guides and steers the government of Vietnam and the UN in Vietnam’s collaboration on accelerating progress to achieve its Sustainable Development Goals. It highlights the joint commitment to deliver sustainable development for all. Speaking at the signing ceremony on August 11, MPI Minister Nguyen Chi Dung emphasised that the CF will be implemented at a time when Vietnam has been synchronously implementing solutions to strengthen economic recovery after the pandemic, respond to climate change, and transition to a green, circular economy. "The government has been working to improve institutions and policies in order to mobilise resources from all economic sectors to develop the country. Together with other development partners, the UN plays an important role in supporting Vietnam in its development, integration, and strong participation in global development through policy advice, sharing Vietnam’s … [Read more...] about Strategic framework for sustainable development between UN and Vietnam

Matthew Rycroft, permanent under-secretary of the UK Home Office, and Deputy Minister of Public Security Sen. Lieut. Gen. Luong Tam Quang co-chaired a UK-Vietnam migration dialogue in Hanoi on August 15. Matthew Rycroft, permanent under-secretary of the UK Home Office, and Deputy Minister of Public Security Sen. Lieut. Gen. Luong Tam Quang co-chair a UK-Vietnam migration dialogue in Hanoi on August 15. (Photo: UK Embassy in Vietnam) The dialogue was held to improve migration co-operation, deliver on the potential that exists in the current migration partnership, and discuss key issues, including safe migration, migrant returns, the issue of fraudulent documents, updated policies on immigration, as well as addressing the issue of human trafficking. The UK and Vietnam enjoy a strong migration relationship, from jointly investigating the tragedy in Essex to securing three successful charter return flights in 2021. Rycroft underlined the UK’s continued … [Read more...] about Hanoi hosts first UK-Vietnam Migration Dialogue

President Nguyen Xuan Phuc (centre) and other delegates cut the ribbon to open the Tan Thuan CMC Data Centre on August 15. (Photo: VNA) Hanoi (VNA) – The Tan Thuan CMC Data Centre, considered the most modern and safest data centre and cloud computing infrastructure facility in Vietnam, officially opened on August 15. With investment of 1.5 trillion VND (64 million USD) from the CMC technology group, the centre covers 13,000 sq.m. at Tan Thuan Export Processing Zone in District 7, Ho Chi Minh City. It was designed by B-Barcelona of Singapore and meets strict international standards for a modern data centre. Addressing the opening ceremony, President Nguyen Xuan Phuc repeated the goal of developing HCM City into a high-quality service, modern technology, and advanced cultural hub that can take the lead in developing the digital economy and society. To that end, the direct engagement of strong, visionary and enthusiastic tech companies like CMC is highly important, … [Read more...] about Leading data centre opens in Vietnam

Trade in goods between Vietnam and the UK has grown rapidly According to the Ministry of Industry and Trade, two-way trade between the UK and Vietnam reached US$6.6 billion in 2021, an increase of 17.2 percent compared to 2020. The expected recovery of the British economy from the pandemic and growing consumer demand in the UK will offer more opportunities for Vietnam’s exports in the years to come. The UK is currently Vietnam’s third largest trading partner in Europe after Germany and the Netherlands. The UK and Vietnam established a strategic partnership in 2010. The signing of the trade deal was of great significance, preventing an interruption of bilateral trade at the end of the Brexit transition period on December 31, 2020 and promoting post-pandemic economic recovery. In addition, the contents of the UKVFTA are similar to those of the EU-Vietnam Free Trade Agreement (EVFTA), shortening negotiations. Embracing globalization has been one of Vietnam’s core strategies to … [Read more...] about UK deal offers gateways to regional trade