"The United States and Japan, together with 11 other nations will be launching" the Indo-Pacific Economic Framework for Prosperity, or IPEF, Biden said at a press conference alongside Japanese Prime Minister Fumio Kishida. "This framework is a commitment to working with our close friends and partners in the region on challenges that matter most to ensuring economic competitiveness in the 21st century," he said. Biden was due to make a formal rollout of the framework later Monday. He did not say what countries had already signed up to IPEF, which the White House is billing as a framework for what will ultimately become a tight-knit group of trading nations. Unlike traditional trade blocs, there is no plan for IPEF members to negotiate tariffs and ease market access -- a tool that has become increasingly unpalatable to U.S. voters fearful of undermining homegrown manufacturing. Instead, the program foresees integrating partners through agreed standards in four main areas: the … [Read more...] about Biden says 13 countries to join new Asia-Pacific trade framework
When was lunar new year 2018
Retail petrol prices keep rising, set new record
Retail prices of petrol in Vietnam rose by nearly VND700 to more than VND30,000/litre on May 23, setting a new record in the domestic petrol market. Vietnam's petrol prices rise to an all-time high over almost 10 years. Illustrative photo by Dantri The latest price adjustments unveiled by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance saw common petrol RON95-III reach VND30,657 per litre, marking a VND669 increase compared to the previous adjustments 12 days ago. Similarly, petrol E5RON92 also rose VND674 to be capped at VND29,633 per litre. Meanwhile, diesel was traded at VND25,553 per litre, representing a decline of VND1,097. The price of kerosene stood at VND24,450 per litre, down nearly VND763, and mazut was also adjusted down by VND962 to VND20,598 per kg. Following the latest price changes, the two ministries decided to stop using the petrol price stabilisation fund to subsidise prices of E5RON92 and RON95. However, they … [Read more...] about Retail petrol prices keep rising, set new record
Vietnamese weightlifters set six new records at SEA Games 31
Weightlifter Pham Minh Quang (left) earns Vietnam a SEA Games silver medal in the men's over 89kg on May 22. (Photo: VNA) Hanoi (VNA) – Vietnamese weightlifters have established six new SEA Games records and claimed three gold, four silver and four bronze medals at the region's biggest sport event. On the last day of competition on May 22, Vietnam earned two silvers in the men’s 89kg and over 89kg categories and a bronze in the women’s over 71kg. Pham Thi Hong Thanh set three new records in snatch, clean and jerk, and total lift in the women's 64kg event held a day earlier. Thanh lifted a total of 230kg – 104kg in snatch, and 126kg in clean and jerk, 6kg and 2kg higher than the old records, respectively. Her total lifting was far higher than the previous SEA Games record of 214 kg. Despite an injury, Hoang Thi Duyen, from Giay ethnic minority group, managed to break two SEA Games records in snatch and total lift in the women’s 59kg category. Meanwhile, Lai Gia … [Read more...] about Vietnamese weightlifters set six new records at SEA Games 31
Việt Nam logs 1,179 new COVID-19 cases, one death on Monday
A technician analyses biological specimens to detect COVID-19 infections in the southern province of Bạc Liêu's Centre for Disease Control. — VNA/VNS Photo HÀ NỘI — Việt Nam registered 1,179 new COVID-19 infections, all domestically transmitted, and one death on Monday. The capital Hà Nội again led the number of new daily cases with 332. The other localities reporting new transmissions were Vĩnh Phúc (75), Quảng Trị (72), Yên Bái (60), Quảng Ninh (56), Tuyên Quang (42), Đà Nẵng (40), Nghệ An (39), Phú Thọ (38), Thái Bình (37), Quảng Bình (37), Hải Dương (36), Thái Nguyên (30), Lào Cai (26), Sơn La (22), Bắc Kạn (19), Hưng Yên (18), Hải Phòng (17), Hà Tĩnh (15), Hòa Bình (15), Quảng Ngãi (14), Cao Bằng (13), Điện Biên (12), Lâm Đồng (11), Hà Giang (11), Hà Nam (9), Thanh Hóa (9), Lạng Sơn (9), HCM City (8 ), Lai Châu (8 ), Khánh Hòa (7), Nam Định (7), Bình Phước (6), Phú Yên (5), Ninh Bình (4), Gia Lai (4), Bắc Giang (3), Bình Định (3), Bình Dương (3), Bà Rịa - Vũng Tàu (3), Thừa … [Read more...] about Việt Nam logs 1,179 new COVID-19 cases, one death on Monday
Traveling duo plant hope for ‘greener’ Vietnam
Traveling duo Dang Duc Tuan and Vo Minh Tan planted more than 500 trees during their 110-day journey through all 63 cities and provinces in Vietnam, hoping their seedlings will help a new culture of environmental awareness take root across the country. Travel lovers in Vietnam often talk about cross-country motorbike journeys, but few have time to make the trip. When COVID-19 brought the country to a standstill earlier this year, Tuan and Tan, both 29 years old, decided to take a break from their office jobs in Ho Chi Minh City, Vietnam and Phnom Penh, Cambodia, respectively, to make the life-changing trip. Hoping to share their mantra – 'If you love Vietnam, love its environment, too' – the two men launched A Little Vietnam, their personal initiative to spread public awareness of responsible tourism. Tan and Tuan came up with the idea for a cross-country environmental awareness journey after social media users praised a video they made in Dak Lak Province, in which … [Read more...] about Traveling duo plant hope for ‘greener’ Vietnam
Vietjet offers free borderless flying to SEA Games 31 football champions
The two teams won the gold medals in football at the 31st Southeast Asian Games (SEA Games 31) hosted by Vietnam, thus successfully defending their SEA Games championship and marking the second time that both the male and female football teams won the SEA Games. With the philosophy of bringing good values to the community and society, the Sovico group always pays attention and accompanies Vietnam sports and tournaments. The new-age carrier Vietjet has not only revolutionized the aviation industry in Vietnam but also been a pioneering airline across the region and around the world. With a focus on cost management ability, effective operations and performance, Vietjet offers flying opportunities with cost-saving and flexible fares as well as diversified services to meet customers’ demands. Vietjet is a fully-fledged member of International Air Transport Association (IATA) with the IATA Operational Safety Audit (IOSA) certificate. As Vietnam’s largest private carrier, the airline … [Read more...] about Vietjet offers free borderless flying to SEA Games 31 football champions
Coordination model proves effective in improving support industries
Improved productivity, lower error rates According to the Vietnam Industry Agency under the Ministry of Industry and Trade (MoIT), the MoIT, the People's Committee of Hai Duong Province and Samsung Vietnam are implementing a February 2020 Memorandum of Understanding on improving production and quality of 15 local enterprises. Feedback from the business community points to improved productivity and reduced error rates. The program also helped change staff perceptions of the importance of meeting customer requirements not only in terms of price, quality, delivery but also in social responsibility through environmental protection and occupational safety. Improving capacity of supporting industry enterprises Another MOU between the MoIT, the People's Committee of Bac Ninh Province and Samsung Vietnam was also signed in 2020 on a six year sustainable development project for the local business community comprising enterprise improvement consultancy and supplier … [Read more...] about Coordination model proves effective in improving support industries
BW Industrial setting the market standard
Lance Li, CEO of BW Industrial Development JSC What difficulties has BW Industrial Development encountered when attracting manufacturers to its campus? The leasing part is always difficult. Despite being a leading player in this market, a large proportion of our tenants, especially manufacturers, is small- and medium-sized enterprises (SMEs). The average space that they need is 3,000-5,000 square metres. If you look at our tenant profile, we have more than 200 tenants. Therefore, we actually need a very strong leasing team to work with, to serve the different requirements of these tenants – from choosing the right locations to other demands such as facilities, dealing with local authorities and skilled labour recruitment as well. Do you have any incentives for SMEs and what are the advantages for them? For each individual industrial zone, they may have some incentive policies. In the very early stage, we will introduce that policy to our tenants, depending on each … [Read more...] about BW Industrial setting the market standard
High inflationary pressure put GDP 6.5% growth target at risk: Gov’t
The Government is committed to taking timely measures to ensure macroeconomic stability. The high inflationary pressure amid the recovery of domestic demand is putting Vietnam’s GDP growth target of 6-6.5% for this year at risk. Overview of the session. Source: quochoi.vn Deputy Prime Minister Le Van Thanh gave the remarks at the third session of the 15 th National Assembly held today [May 23]. According to Thanh, the Vietnamese economy has been on a positive recovery track in the first months of 2022 under the new normal. Total budget revenue for the first four months grew by 15.4% year-on-year to VND657.4 trillion ($28.4 billion), while the consumer price index (CPI) expanded by 2.64%, the lowest four-month period growth in the past five years. As of mid-May, credit growth stood at 7.2% against late 2021 and up 17% year-on-year, which showcases the recovery of economic activities, along with greater efforts from the Government to restore discipline … [Read more...] about High inflationary pressure put GDP 6.5% growth target at risk: Gov’t
Vietnam aims to deepen partnership with U.N., ESCAP: Diplomat
The Deputy PM’s participation at the session will deliver an important message from the Vietnamese Government that it highly values the effective cooperation with the U.N. in general and ESCAP in particular over the past 45 years, while demonstrating the country’s strong commitments to promoting its partnership with the U.N. and ESCAP in the coming time, according to Vietnamese Ambassador to Thailand Phan Chi Thanh, who is also the Permanent Representative of Vietnam to ESCAP. Vietnam wants to further accelerate the dialogue and cooperation process with member countries, effectively optimize ESCAP's support to implement Vietnam's development strategies and goals, especially during the post-pandemic recovery and sustainable development process, and realize its commitments at the 26th UN Climate Conference (COP26), he stressed. Ambassador Thanh affirmed that the Deputy PM will be the highest leader of Vietnam to attend a session of the commission in person in many years, which shows … [Read more...] about Vietnam aims to deepen partnership with U.N., ESCAP: Diplomat