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An overview of the forum (Photo: VNA) Hanoi (VNA) – National Assembly Chairman Vuong Dinh Hue attended the Vietnam-UK high-level forum on economy and trade in London on June 29 (local time), as part of the leader’s ongoing visit to the UK. Aiming to seek stronger economic, trade and investment partnership between the two countries, the event drew Vietnamese Deputy Prime Minister Le Van Thanh, Britain Secretary of State for International Trade Anne Marie Trevelyan, and MP Graham Stuart, UK Prime Minister's Trade Envoy to Vietnam, and a large number of Vietnamese and Britain businesses. Addressing the event, Deputy PM Thanh highlighted important progress in the Vietnam-UK Strategic Partnership , as well as great chances for both sides to bolster their ties from the UK-Vietnam Free Trade Agreement ( UKVFTA ). He underlined that both sides should optimise advantages from the deal by encouraging the promotion of the two-way trade and investment, and creating favourable … [Read more...] about NA Chairman attends Vietnam-UK high-level forum on economy, trade

UK trade minister Anne-Marie Trevelyan said the country wants to be a part of Vietnam’s development story in the 21st century, and fostering bilateral trade relations is among its priorities. Vietnam and the UK should set a trade turnover target of over US$10 billion by 2023, which would be a meaningful step to mark the 50 th anniversary of Vietnam-UK diplomatic relations next year. Chairman of the National Assembly Vuong Dinh Hue (mid) at the forum. Source: VNA Deputy Prime Minister Le Van Thanh gave the remarks at the Vietnam-UK High-level Forum on Economy and Trade held on June 29. The event is one of the highlights of a visit to the UK by the high-ranking delegation from the National Assembly of Vietnam led by Chairman Vuong Dinh Hue from June 28-30. According to Thanh, the Vietnam-UK strategic partnership has progressed strongly over the years and contributed to socio-economic development in each country. Thanh expected the partnership would … [Read more...] about Vietnam-UK target US$10-billion trade turnover by 2023

Vietnam expects to create the utmost favorable environment for foreign companies to be successful in the country. Chairman of the National Assembly Vuong Dinh Hue on June 29 held several meetings with executives of UK multinationals, including Prudential, Standard Chartered, Pacific Land, Pearson, and Enterprize Energy. All executives have expressed their good impression and pledged to commit long-term presence in Vietnam. NA Chairman Vuong Dinh Hue and President of Prudential Shriti Vadera. Source: VNA President of Prudential Shriti Vadera said the company's business performance was positive during the Covid-19 pandemic, expressing her delight to be part of Vietnam’s development. Vadera suggested Prudential could further contribute to the country’s economic growth  by taking part in the long bond issuance. Chairman Hue welcomed Prudential’s successes in Vietnam, saying insurance corporations remain key partners of the State in Government bond issuance. … [Read more...] about UK multinationals pledge long-term presence in Vietnam

EDPR has reached an agreement with Trina Solar, the world-leading PV and smart energy total solution provider, to acquire the Trung Son Solar PV project in Khanh Hoa province. Put into operation in December 2020, the project has a power purchase agreement (PPA) signed with Electricity of Vietnam under a 20-year feed-in tariff (FiT). In June, EDPR also inked a deal to scoop up two solar plants in Vietnam with a total capacity of 200MW from Xuan Thien Group. Situated in Ninh Thuan province, the two solar plants have been operated since 2020. The deals have an estimated valuation of $284. Vietnam is one of the fastest-growing economies in Southeast Asia with power demand increasing at around 10 per cent per annum. Thermal represents around 50 per cent of the capacity mix and energy dependence has increased significantly with net imports currently at 30 per cent of total energy demand. With the objective of increasing the weight of renewable energy sources in the energy mix and … [Read more...] about EDPR forays into Vietnam’s renewable energy market after taking over a solar PV project

Vietnam is seeing a surge in the price of its coffee exported to the US (Photo: VNA) Hanoi (VNA) – Vietnam is seeing a surge in the price of its coffee exported to the US and is expected to gain more opportunities in this market. According to the Ministry of Industry and Trade’s Import-Export Department, in the first five months of 2022, Vietnam shipped 50,580 tonnes of coffee to the US for 124.95 million USD, down 2.9% in volume, but up 23.6% in value year-on-year. In the period, Vietnam earned 2,470 US D per tonne, up 27.2% compared to that in the same period last year. Experts forecast that in the 2020 - 2025 period, the US coffee market will grow at an average rate of 4.8%. The main factors driving the growth of the market are increasingly hectic lifestyle and long working hours, which make coffee chains in the country more popular among consumers. The opportunity is big, the Import-Export Department stressed, however, advising exporters to pay attention to … [Read more...] about Vietnam sees more chances for coffee exports to the US

The vaccination is expected to be carried out in Vietnam from July to the end of this year. The made-in-Vietnam African swine fever vaccine will be likely used on a large scale by the end of 2022, according to Nguyen Van Long, acting director of the Department of Animal Health under the Ministry of Agriculture and Rural Development. Long said that the vaccine was branded NAVET-ASFVAC and is produced by NAVETCO National Veterinary Joint Stock Company. Over 50 farms in ten provinces and cities nationwide have been selected to administer 600,000 doses of vaccine against African swine fever. It is expected that vaccination will be carried out from July to the end of the year, Long noted, adding that there will be an assessment for the vaccine application and a decision on widespread use will be considered. Tran Xuan Hanh, deputy director of NAVETCO said that following five lab trials, the vaccine has proved to be able to protect at least 80% of immunized pigs, which retain … [Read more...] about Vietnam’s African swine fever vaccine to be widely used by late 2022

Customers conduct banking transactions at a Vietcombank branch. The bank tops the list of the 10 most prestigious commercial banks in Viet Nam in 2022. — Photo baochinhphu.vn The Vietnam Report JSC has recently published the list of the top 10 prestigious banks in Viet Nam in 2022. The 10 banks honoured as the most prestigious commercial banks in the country are Vietcombank, VietinBank, Techcombank, Military Bank, VPBank, ACB, BIDV, TPBank, VIB and AgriBank. Meanwhile, the list of the 10 most prestigious private joint-stock banks comprises Techcombank, VPBank, ACB, TPBank, VIB, HDBank, Sacombank, SHB, OCB and MSB. The banks have been ranked based on three criteria: financial capacity shown on the latest financial statement, credibility on media evaluated by the Media Coding method, and stakeholder opinions collected in a survey in June. The survey also showed that 48 per cent of bank customers think the banking industry has been playing a leading role in the country's … [Read more...] about Vietnam Report announces Top 10 prestigious banks

More than 100 Japanese companies in the food industry and 30 in cosmetics are looking for partners and expanding business in Vietnam. Japan Street, an online catalog site, is expected to further enhance business cooperation between Vietnamese and Japanese enterprises and further contribute to bilateral relations. Deputy Head of JETRO in Hanoi Keisuke Kobayashi at the event. Photo: Hai Yen Project Manager at the Japan External Trade Organization (JETRO) in Hanoi Yutaka Yasunaga stressed the view during a press briefing on the platform held today [June 30]. According to Yasunaga, “Japan Street” would help connect Japanese suppliers with overseas buyers, including those from Vietnam. Yasunaga said that the Covid-19 pandemic and the restriction measures adopted by countries around the world have made it difficult to set up direct meetings between buyers and suppliers. “An online platform, therefore, is considered an effective solution to avoid disruption to … [Read more...] about “Japan Street” to bolster Vietnam-Japan business cooperation: JETRO

The Vietnam International Cafe Show 2022 will open in HCM City in July. — VNS Photo More than 200 domestic and international exhibitors will participate in a coffee, food and beverage exhibition called Viet Nam International Cafe Show 2022 from July 21 to July 23 at the Sai Gon International Exhibition and Convention Center (SECC) in HCM City. This annual event, which is part of a series of Cafe Show exhibitions in Seoul, Shanghai, Paris and Viet Nam, is an opportunity for leading domestic and foreign managers and experts to meet and share orientations, strategies, solutions and practical management tools in the manufacturing, processing, and distributing industry of coffee, tea, food and beverage for restaurants, hotels and other food service businesses. The event is organised by Exporum Vietnam Company and sponsored by Viet Nam Coffee - Cocoa Association, Buon Ma Thuot Coffee Association, Trade Promotion Agencies in Viet Nam and other agencies. Joining the event will be … [Read more...] about Vietnam International Café Show 2022 to open in HCM City

Though the cuisine at Hoang Hoa Tham Market in Ho Chi Minh City may not be esthetically attractive, it is delicious, affordable, and a true taste of local culture. And the best part? Diners can walk away with a full meal for US$5 or less at this market. Hoang Hoa Tham Market on Hoang Hoa Tham Street, Tan Binh District, Ho Chi Minh City is packed with vendors hawking clothes, fabrics, household wares, thrifted goods, and some of the cheapest, most delicious meals in town. Sup cua (crab soup) is a popular dish in Ho Chi Minh City, particularly among white-collar employees and the elderly. Crab soup is hot, easy to eat, packed with flavor, and deliciously greasy, making it an ideal breakfast or afternoon snack. A cup of ‘sup cua’ (crab soup) from a stall at Hoang Hoa Tham Market, Tan Binh District, Ho Chi Minh City. Photo: Minh Duc / Tuoi Tre At a junction between the busy stalls at Hoang Hoa Tham Market sits a nameless sup cua cart with no signs, merely a … [Read more...] about What you can eat for US$5 or less at this Ho Chi Minh City market?