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A woman shops for fresh fruits at a Winmart store in Ha Noi. — VNA/VNS Photo Tran Viet Domestic purchasing power has rebounded after a strong decline caused by the COVID-19 pandemic. That rebound has facilitated businesses to step up production and seize new opportunities, experts have said. The nation's total revenue from retail trade and services surpassed VND1.77 quadrillion (US$76.2 billion) in the first four months of 2022, up 6.5 per cent year-on-year, the latest report from the Ministry of Industry and Trade (MoIT) showed. In April alone, the revenue also saw a positive yearly rise of 12 per cent to over VND455 trillion, according to the report. These encouraging figures were attributable to abundant good supply and increasing purchasing power in the domestic market, the MoIT said, adding that goods retail sales saw a year-on-year hike of 7.6 per cent to over VND1.42 quadrillion in the four months. Of this, sales of food and foodstuff rose 13.2 per cent year-on-year … [Read more...] about Four-month purchasing power rebound facilitates business recovery

Truong Hung Long, director of the Department of Debt Management and External Finance under the Ministry of Finance. Improving the national credit rating is implemented with a long-term vision to reduce the cost of capital mobilisation, enhance the country's reputation, and meet the needs of socio-economic development in the future. Truong Hung Long, director of the Department of Debt Management and External Finance under the Ministry of Finance, spoke with Vietnam News Agency about the issues. The Prime Minister has just approved a project to improve the national credit rating by 2030. The Department of Debt Management and External Finance is assigned to develop and implement the project. What will the department do to fulfil this task? The Government issued Decision 304/QD-TTg on February 6, 2013 to approve a project on improving the national credit rating. That created favourable conditions for the Government in accessing the international capital market. It is also a way … [Read more...] about Viet Nam promotes solutions to improve national credit rating

Iron and steel are among Vietnam's major export items to Laos. (Photo: VNA) Hanoi (VNA) – Since the establishment of their bilateral diplomatic ties in 1962, Vietnam and Laos have promoted cooperation across spheres, with their trade exchange posting substantial growth, benefiting both countries. During the 2016-2020 period, the two-way trade saw stable expansion and reached the target of over 1 billion USD, but then suffered from the impact of the COVID-19 pandemic and natural disasters. The Asia-Pacific Market Department at the Vietnamese Ministry of Industry and Trade (MoIT) said that the bilateral trade exceeded 1 billion USD in 2020, down 11.5 percent year-on-year, of which Vietnam’s exports were worth 571.7 million USD, down 18.5 percent. However, the bilateral trade bounced back since early 2021, surging 33.3 percent to 1.37 billion USD for the year, with Vietnam’s export revenue reaching 594.7 million USD, a rise of 4 percent from 2020, and its import hitting … [Read more...] about Vietnam-Laos trade ties growing sustainably

Team 'Adorbsies' of three Vietnamese high school students has won the first prize of an international environmental competition. From left: Adorbsies member Lương Anh Khánh Huyền, Trần Quỳnh Anh, Bùi Tú Uyên. Photos courtesy of the team Bảo Hoa HÀ NỘI — A team of three Vietnamese high school students has won an international prize on environmental sustainability. Bùi Tú Uyên, Lương Anh Khánh Huyền and Trần Quỳnh Anh brought home US$100,000 from the Earth Prize competition, an initiative of the Switzerland-based Earth Foundation that encourages students to address environmental issues. Beating more than 650 teams across 114 countries and territories, the three girls’ idea of creating biodegradable menstrual pads from dragon fruit peel won the hearts of the judges for its practicality. “This was a very difficult choice for The Earth Prize Adjudicating Panel to make; but Team Adorbsies’ project is an idea turned into a solution that can make a genuine difference,” said Rina … [Read more...] about Vietnamese students champion int’l environmental competition

Greek President Katerina Sakellaropoulou and Vietnamese President Nguyễn Xuân Phúc during the press conference. — VNA/VNS Photo Thống Nhất HÀ NỘI — President Nguyễn Xuân Phúc and Greek President Katerina Sakellaropoulou on Monday emphasised the importance of enhancing relations between the two countries. This is the Greek President's first official visit to Việt Nam. Vietnamese President Phúc praised the hard work carried out between the two countries to make progress with existing relations and revealed plans are in place to strengthen ties in the future. He told the press conference: "The relations between the two countries have seen significant progress recently, and we have set out specific directions and strategies to further deepen our cooperation in all aspects. "We also discussed a number of regional and international issues of mutual concern.” President Katerina Sakellaropoulou said that this visit will enhance relations between the two countries, the first time … [Read more...] about Plans in place to strengthen Greece – Việt Nam ties

Steel production at Việt-Đức Steel JSC's factory in Vĩnh Phúc Province. Việt Nam mainly ships iron and steel to Laos. — VNA/VNS Photo Nguyễn Trọng Lịch HÀ NỘI — Since the establishment of bilateral diplomatic ties in 1962, Việt Nam and Laos have promoted cooperation across numerous spheres, with their trade exchange posting substantial growth, benefiting both countries. During the 2016-20 period, the two-way trade saw stable expansion and reached the target of over US$1 billion, but then suffered from the impact of the COVID-19 pandemic and natural disasters. The Asia-Pacific Market Department at the Vietnamese Ministry of Industry and Trade (MoIT) said that the bilateral trade exceeded $1 billion in 2020, down 11.5 per cent year-on-year, of which Việt Nam’s exports were worth $571.7 million, down 18.5 per cent. However, the bilateral trade bounced back since early 2021, surging 33.3 per cent to $1.37 billion for the year, with Việt Nam’s export revenue reaching $594.7 … [Read more...] about Việt Nam-Laos trade ties growing sustainably