Asian infrastructure investment bank

Prime Minister Phạm Minh Chính speaks at the Đà Nẵng investment Forum. The event offers more investment opportunities for domestic and foreign investors. Photo courtesy of Đà Nẵng Investment Forum ĐÀ NẴNG — The Government of Việt Nam will keep reforming policies in administrative procedure, legal environment, more transparency and publicity in creating trust and confidence among domestic and foreign businesses investing in Việt Nam and Đà Nẵng. Prime Minister Phạm Minh Chính made the comments at the Invest Đà Nẵng Forum in the central city on Saturday, urging businesses to invest more in Việt Nam and Đà Nẵng for both the benefit of business and the country’s prosperous development. “The Government of Việt Nam is developing a wide-open economy to attract multi-sector businesses and investors for sustainable growth in climate change and global crisis and conflicts. We must strongly change institutions to be cooperative in dealing with market shocks,” PM Chính said. “We do … [Read more...] about Đà Nẵng City calls for investment

Prime Minister Pham Minh Chinh speaks at the Da Nang investment Forum. The event offers more investment opportunities for domestic and foreign investors. Photo courtesy of Da Nang Investment Forum Prime Minister Pham Minh Chinh made the comments at the Invest Da Nang Forum in the central city on Saturday, urging businesses to invest more in Vietnam and Da Nang for both the benefit of business and the country’s prosperous development. “The Government of Vietnam is developing a wide-open economy to attract multi-sector businesses and investors for sustainable growth in climate change and global crisis and conflicts. We must strongly change institutions to be cooperative in dealing with market shocks,” PM Chinh said. “We do all the best in preventing corruption, inflation control, flexible money policy, diversifying supply chains to create trust and stable conditions for investors when doing business in Vietnam.” The PM also highlighted the efforts in the control of the Covid-19 … [Read more...] about Da Nang City calls for investment

Marcel Schröder, Economist, Economic Research and Regional Cooperation Department Asian Development Bank At the beginning of the conflict, the crude oil price breached $130 per barrel in March, the highest since 2008. Since then, it retreated to about $100 in April, before rising again to $120 following the European Union’s partial ban on Russian oil in May. Some worry that the oil price could spike to $200 per barrel in the coming months and how such a shock would impact the economic prospects of Asia’s developing countries. While many institutions, including ours, project a significantly higher oil price in 2022 compared with 2021, these predictions do not foresee $200 per barrel because they attach a low probability of a sudden shock to the global oil supply. A sudden shock is unlikely given the EU’s decision to gradually phase out Russian oil imports by the end of 2022, allowing an orderly transition to alternative supplies and keeping prices stable and affordable for … [Read more...] about Additional oil spike impacts cannot be ruled out

Vietnam remains supportive and would serve as the bridge for the UK to expand its partnership with ASEAN, calling for the UK parliament to support ASEAN’s central role in the region, as well as Vietnam’s stance on regional security issues. Vietnam and the UK are seeking closer relations at a time when the bilateral strategic partnership has been at its best with strong progress in all spheres. Chairman of Vietnam National Assembly Vuong Dinh Hue and Speaker of the House of Commons of the UK Lindsay Hoyle. Source: VNA The view was shared during a meeting between Chairman of Vietnam National Assembly Vuong Dinh Hue and Speaker of the House of Commons of the UK Lindsay Hoyle in London today [June 29]. According to Hue, trade and investment cooperation between the two countries has benefited from the UK-Vietnam Free Trade Agreement (UKVFTA) that took effect in early 2021. Hue expected both sides to continue taking advantage of the deal to boost bilateral trade … [Read more...] about Vietnam, UK seek closer relations

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

Raab said Hue’s visit was of significance as it contributes to promoting the U.K.-Vietnam strategic partnership, especially legislative ties between the two countries. He spoke highly of Vietnam’s increasing role and position in the region and the world at large, stressing that the U.K. wants to boost cooperation with Vietnam in various spheres, especially economy, trade, investment, national defense, security, education, justice and climate change response. For his part, Hue affirmed the importance Vietnam attaches to the bilateral relationship, and emphasized that the Vietnam-U.K. strategic partnership is developing strongly in various fields and at different levels. The two sides shared the view that the relationship is now at an all-time high, and there still remains huge room for the two countries to advance it, especially at the time when Vietnam and the U.K. have become strategic partners, signed a free trade agreement, and established many effective cooperation … [Read more...] about Vietnamese National Assembly Chairman meets with British officials