Oda

This is one of three funding options that the ministry has proposed in the feasibility report for the project recently submitted to Prime Minister Nguyen Xuan Phuc. Other funding sources proposed are ODA (Official Development Assistance), and inviting bids from interested investors. The state-owned Airports Corporation of Vietnam (ACV), which runs 21 airports in the country, has been in charge of building runways, parking bays and terminals for the biggest airports in Vietnam and therefore has relevant experience, the ministry has argued. ACV will use its own funds for the airport so public debt won’t be affected, the ministry has said, adding that the airport operator could start work early in 2021 and finish by 2025. Do Tat Binh, ACV deputy director, said the company now has $1 billion and can increase this to $1.5 billion to invest in the airport’s first phase, which has a total budget of $4.7 billion. The ACV will raise the remaining funds by borrowing or tie-ups with … [Read more...] about Transport ministry prefers Vietnamese aviation firm as Long Thanh Airport investor

At the opening ceremony of Vietnam - Japan cultural exchange festival 2018 (Source: VNA) In his opening remark, Deputy Foreign Minister Bui Thanh Son highlighted the fruitful development of the Vietnam-Japan diplomatic ties in all spheres over the past 45 years, affirming that the two countries have created mutual trust among their senior leaders, ministries, sectors and peoples. The recent State-level visit to Japan by President Tran Dai Quang has contributed to the ushering in a new development period for the friendship and cooperation between the two nations. Son stressed that Japan is now the largest provider of official development assistance (ODA), and a top partner of Vietnam in accelerating industrialization and modernization.  Japan is also the second largest investment, third biggest tourism and fourth trade partner of Vietnam now, he added, noting that Vietnam is an attractive destination for Japanese investors.  People-to-people exchanges … [Read more...] about Da Nang hosts Vietnam – Japan cultural exchange festival

Australian Ambassador to Vietnam Craig Chittick During a recent interview granted to Vietnam News Agency on the threshold of a visit by Governor-General of the Commonwealth of Australia Peter Cosgrove, the Ambassador affirmed the upgrade of the bilateral relations to a strategic partnership reflects the long-term cooperation between the two nations.  He recalled that when the two countries began establishing their diplomatic relations in 1973, the Australian government immediately embarked on fostering the bilateral ties.  Collaborative activities between the two sides began in 1974, and many important decisions and noteworthy milestones have made by the two sides to promote their relationship over the last 20-25 years. The formation of the Australian Center for International Agricultural Research (ACIR) in Vietnam was the initial step in Australia-Vietnam cooperation.  The two sides began a defence cooperation programme 20 years ago, and 2019 will mark … [Read more...] about Vietnam-Australia ties grow strongly: Australian diplomat

Shrimp - one of export products to Australia According to the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) roadmap, Australia cuts 90% of import taxes this yearand 100% of tax lines will drop to zero as from 2020. Meanwhile, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will promisingly facilitate trade ties between Vietnam and Australia. Vo Tan Thanh, vice President of the Vietnam Chamber of Commerce and Industry (VCCI) and General Director of VCCI HCM City branch, told a conference on Vietnam and Australia trade connection held in the City on June 4 . Mr Thanh said Vietnam-Australia bilateral ties have seen strong development over the past 45 years, especially in trade, investment and tourism. Bilateral trade hit US$6.5 billion last year, including US$3.3 billion from Vietnam’s exports to Australia and nearly US$3.2 billion from its imports. Australia is currently Vietnam’s eighth largest trading partner while … [Read more...] about FTAs drive Vietnam-Australia trade ties to new heights

A logo on the 45th anniversary of Vietnam-Australia diplomatic relations was announced in early 2018 2018 is a year of special significance to Vietnam and Australia, as the two countries mark the 45th anniversary of their diplomatic ties. Through the decades, they have built a strong partnership with the establishment of comprehensive partnership in 2009. They signed a declaration on enhancing bilateral comprehensive partnership in 2015.  During the APEC Economic Leaders’ Week in Da Nang in November last year, PM Nguyen Xuan Phuc and his Australian counterpart Malcom Turnbull announced their intention to upgrade the bilateral ties to a strategic partnership, which is expected to be realised during the Vietnamese PM’s upcoming visit to Australia.  Trade and economic partnership is an outstanding example in bilateral ties, with trade revenue increasing 200 times since 1990 to reach US$6.46 billion in 2017 and expected to hit US$10 billion in 2020. Australia … [Read more...] about Vietnam, Australia look to lift up ties to strategic partnership