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The Regional Comprehensive Economic Partnership could provide opportunities for local small and medium enterprises to move up the value chain with the simplification of procedures. Manufacturers in advanced countries such as Japan, China and South Korea may consider minimizing costs by outsourcing the final processing steps to less expensive ASEAN countries such as Vietnam to achieve cost benefits. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 27

Hanoi (VNA) – The 17th ASEAN – Russia Senior Officials’ Meeting (SOM) took place virtually on January 26, which was co-chaired by Russia and Indonesia – coordinators of ASEAN – Russia ties. Speaking at the event, the Vietnamese delegation affirmed Russia’s important role in ASEAN and regional cooperation and spoke highly of the progress of ASEAN – Russia collaboration over the past years. They encouraged Russia to deeply join and make further positive contributions to ASEAN-led cooperation mechanisms, contributing to the common efforts to build trust, uphold international law for an environment of peace, security and stability, especially amid challenges at present. In the immediate future, Vietnam suggested Russia continue assisting the bloc in mitigating the adverse impacts of the pandemic and propelling sustainable growth. Stressing that Vietnam fully supports Russia’s wide participation in ASEAN and regional cooperation, the … [Read more...] about Vietnam attends 17th ASEAN-Russia senior officials’ meeting

Hanoi (VNA) – Vietnam has recorded significant achievements in managing national foreign debts over the past three decades, said an official at a workshop held in Hanoi on January 26. Vo Huu Hien, Vice General Director of the Ministry of Finance’s Department of Debt Management and External Finance, made the statement, adding that the effective management has transformed Vietnam from a poor and heavily indebted country into a one receiving international organisations’ recognition as having a controlled external debt level and being excluded from the group of countries with a debt burden. According to data from the ministry, the public sector’s proportion in the structure of the national external debt decreased from 73.6 percent in 2010 to 63.4 percent in 2015 and 43.7 percent in 2020. The Government’s foreign loans are mainly official development assistance and concessional loans. To date, Vietnam has signed more than 85 billion USD worth of these loans. … [Read more...] about Progresses seen in Vietnam management of national foreign debts: workshop

Vietnam received 109 investors in the technology sector in 2019. In the first half of 2020, only a modest number of new investors joined the market. Instead, the investments last year mostly came from domestic companies and foreign investors who had worked in Vietnam. … [Read more...] about Investment in technology in Southeast Asia: focus shifts to Vietnam

HÀ NỘI — Prime Minister Nguyễn Xuân Phúc has delivered an important message to the Climate Adaptation Summit which took place virtually on January 25 and 26, pledging to strengthen the resilience and adaptation of communities, economic stakeholders and the ecosystem. … [Read more...] about Việt Nam vows to strengthen climate adaptation efforts, needs US$35 billion this decade