Viet nam

Goods loaded at Cat Lai Port in HCM City. The Standard Chartered maintains its 7.3 per cent growth forecast for Viet Nam in 2022, continuing to expect a post-COVID-19 economic acceleration. — VNA/VNS Photo Thanh Vu Standard Chartered has lowered its growth forecast for Viet Nam for 2021 from 6.7 per cent to 6.5 per cent. The bank maintains its 7.3 per cent growth forecast for 2022, and continues to expect a post-COVID-19 economic acceleration. “We believe Viet Nam is moving towards its goal of becoming a regional supply-chain hub, a modern industrial economy and a high-income country in the future,” said Tim Leelahaphan, Economist for Thailand and Viet Nam, Standard Chartered. “Viet Nam managed the COVID-19 situation well in 2020, further enhancing its appeal to foreign investors. The country had already benefited from the ongoing supply-chain shift in recent years. In the near term, the country’s pandemic management will be crucial to the outlook,” he went on. Standard …

Continue Reading about Standard Chartered revises forecast for Viet Nam down →

A footwear production line at Ha Tay Chemical Weave Company Limited. Footwear is a potential product for export to Peru — VNA/VNS Photo Tran Viet Peru’s official ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) this week is expected to boost trade between Viet Nam and the South American nation. Under the agreement, Peru has committed to removing up to 81 per cent of taxes immediately after the CPTPP comes into force, and 99.4 per cent of taxes by the 17th year after the deal takes effect. Trade between Viet Nam and Peru increased from US$284.96 million in 2014 to $422.73 million in 2019. Last year, however, there was a sizable drop to $391.17 million due to the impact of the COVID-19 pandemic. That said, bilateral trade grew strongly in the first half of this year to reach $278.27 million, up 78.7 per cent year-on-year. During this period Viet Nam’s exports to Peru hit $242.49 million, representing a rise of 103.6 per cent. …

Continue Reading about Peru’s ratification of CPTPP expected to boost trade with Viet Nam →

In the first six months of 2021, Viet Nam's pepper exports were estimated at 155,000 tonnes, earning US$500 million. — Photo congthuong.vn Viet Nam is at risk of losing out on major pepper export markets due to increasing logistics costs, according to the Viet Nam Pepper Association (VPA). In the first six months of 2021, Viet Nam's pepper exports were estimated at 155,000 tonnes, earning US$500 million. The exports decreased by 7 per cent in volume year on year, though increased by 41 per cent in value due to higher export prices, VPA said. On top of the decrease in pepper output this year due to the COVID-19 pandemic, logistics costs are behind the decrease in pepper export volume. The logistics costs include two main parts – wharf fees (including loading and unloading of goods, as well as administrative procedures) and costs related to shipping containers by sea. The local enterprises said that the cost of shipping pepper from Viet Nam to key export markets such as the …

Continue Reading about Viet Nam at risk of losing pepper export markets due to high freight costs →

Việt Nam's exports reached US$158.34 billion in the first six months of 2021, an increase of $35.57 billion, or 29 per cent over the same period in 2020. — VNA/VNS Photo HÀ NỘI —  As exports formed a key component of local economic development, maintaining production chains was crucial for Việt Nam. In the first six months of the year, exports increased by 29 per cent and orders were rising thanks to the recoveries of the US and China markets, as well as tax incentives from the EU due to the EVFTA agreement, said Nguyễn Xuân Thành, manager of the Fulbright Economics Teaching Programme. Thành took part in an online conference hosted by e-newspaper cafef.vn yesterday with other experts to discuss solutions for the economy in the ongoing fourth wave of the pandemic. “The remarkable increase is due to the demand for Việt Nam's exports from major markets,” he said. Thành said Việt Nam was benefitting thanks to the continuing punitive tariffs on China from the Biden …

Continue Reading about Maintaining production chains crucial for Việt Nam →

The Temple of Literature Complex is the place that witnessed and retained the development of Dai Viet ’s education, and a historical and cultural relic that promotes the country’s cultural values to international friends. During the Ly Dynasty, especially from the King Ly Nhan Tong onward, recognising the significance of education to the nation, the court decided to build Quoc Tu Giam (the first national university of Viet Nam), carrying out exams to choose the talented, which opened a milestone for the nation’s Confucian education. Of note, in February of the 4th year of Thai Ninh era (1075) under the reign of King Ly Nhan Tong, the court held the “Minh kinh bac hoc” exam to look for well-educated people to be appointed as the court’s officials. This is the ever first exam in Viet Nam history. Over hundreds of years of development, the education system, despite ups and downs, has successfully carried out the mission passed down by the ancestors, to foster the nation’s …

Continue Reading about Temple of Literature complex – Symbol of Viet Nam’s civilisation →

On the 69th Anniversary of Egypt’s National Day  (23rd July Revolution 1952) Egyptian Ambassador to Việt Nam Mahmoud Hassan Nayel writes to Việt Nam News On July 23rd, Egypt commemorates the Revolution of 1952, celebrating its 69th anniversary this year. The revolution, which became the key event that shaped modern political history in Egypt, significantly influenced other countries in different parts of the world. Notably those who were struggling to achieve their independence and take a stand against colonialist and imperialist domination. The first Egyptian republic was established to soon assume a leading role among developing nations. This manifested into Egypt becoming one of the central founding nations of important international movements and regional organisations, including the Non-Aligned Movement (NAM) and the Organization of African Unity (OAU), today’s African Union (AU). A few years earlier, the revolutionary leader and late President of Vietnam Hồ Chí Minh visited …

Continue Reading about Egypt sees more co-operation opportunities with Việt Nam →

Goods loaded at Cát Lái Port in HCM City. The Standard Chartered maintains its 7.3 per cent growth forecast for Việt Nam in 2022, continuing to expect a post-COVID-19 economic acceleration. — VNA/VNS Photo Thanh Vũ HÀ NỘI — Standard Chartered has lowered its growth forecast for Việt Nam for 2021 from 6.7 per cent to 6.5 per cent. The bank maintains its 7.3 per cent growth forecast for 2022, and continues to expect a post-COVID-19 economic acceleration. “We believe Việt Nam is moving towards its goal of becoming a regional supply-chain hub, a modern industrial economy and a high-income country in the future,” said Tim Leelahaphan, Economist for Thailand and Việt Nam, Standard Chartered. “Việt Nam managed the COVID-19 situation well in 2020, further enhancing its appeal to foreign investors. The country had already benefited from the ongoing supply-chain shift in recent years. In the near term, the country’s pandemic management will be crucial to the outlook,” he went on. …

Continue Reading about Standard Chartered  revises forecast for Việt Nam down →

Participants at the online meeting of the Group of Friends on the 1982 UN Convention on the Law of the Sea (UNCLOS) on July 21. — VNA/VNS Photo NEW YORK — The Permanent Mission of Việt Nam to the United Nations (UN) chaired an online meeting of the Group of Friends on the 1982 UN Convention on the Law of the Sea (UNCLOS) on July 21. The event's theme highlights the importance of the UNCLOS in the fulfillment of UN Sustainable Development Goal No.14 (SDG 14) on conservation and sustainable use of seas and oceans. Professor of international law Malcolm Evans was invited as a keynote speaker at the event. Evans said the UNCLOS, or 'Charter of the Oceans', is a framework covering all activities at sea and in the oceans, ensuring the balance between the demand for exploiting resources from seas and rights to freedom at sea, and sea management for common benefits. A dispute settlement mechanism under UNCLOS helps peacefully address disputes among nations, promote understanding …

Continue Reading about Việt Nam chairs meeting on UNCLOS’ role in sustainable sea, ocean preservation →

Northern Vĩnh Phúc Province on Thursday organised vaccination for foreign experts, reporters and officials from agenies in the field of electricity, banking, communications and oil and petrol. VNA/VNS Photo HÀ NỘI — A total of 6,194 new COVID-19 cases were detected on Thursday, the largest ever number in a single day. It brings the national tally to 74,371 since the first positive patient emerged in January last year. But there were 1,450 people given the all-clear from coronavirus, a record number of recoveries in a 24-hour period. The total amount of people to beat COVID-19 now stands at 13,421. Of Thursday’s new cases, 30 were people entering the country and immediately quarantined on arrival. From the remainder of the new infections, 5,164 people were already in quarantined or locked down areas. HCM City, the current epicentre for infections, saw 4,218 new cases. The rest were located in Bình Dương Province (679), Long An Province (432), Đồng Nai Province  (210), …

Continue Reading about Việt Nam reports record daily increase with 6,194 new cases →

US Defense Secretary Lloyd Austin. — AFP/VNA Photo HÀ NỘI — US Defense Secretary Lloyd Austin will make an official trip to Việt Nam on July 28-29 at the invitation of the Vietnamese Minister of National Defence Phan Văn Giang, spokesperson for the Vietnamese foreign ministry Lê Thị Thu Hằng announced on Thursday. The visit, part of a Southeast Asian tour with stops in the Philippines and Singapore in addition to Việt Nam starting this Friday, is the first one to the region by a top official of the Biden-Harris administration. “The visit to Việt Nam by the US Secretary of Defense would contribute to the strengthening of friendship and trust between our two peoples and armies, implementing the agreement between the two countries’ high-level leaders, and furthering the framework of Việt Nam-US comprehensive partnership,” Hằng noted, while not affirming specifically whether the South China Sea issue (known in Việt Nam as the East Sea) would be high on the visit’s agenda as …

Continue Reading about US Defense Secretary Austin to visit Việt Nam on July 28-29: Foreign ministry →