Business council for international understanding

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

Prime Minister Phạm Minh Chính held a meeting with UN Deputy Secretary-General Amina J. Mohammed in New York on May 16 (local time). — VNA/VNS Photo Dương Giang HÀ NỘI — Việt Nam will continue bringing into play its role and making more active and constructive contributions to the common work of the United Nations in all the three pillars – security-politics, development and human rights, Prime Minister Phạm Minh Chính has said. At a meeting with UN Deputy Secretary-General Amina J. Mohammed in New York on May 16 (local time), the PM stressed that the year 2022 is of great significance as it marks the 45th anniversary of Việt Nam’s UN membership. Appreciating the UN’s valuable contributions and support to Việt Nam over more than four decades, the PM asked Amina to convey his invitation to Secretary-General Antonio Guterres and other UN leaders to visit Việt Nam this year to foster multi-faceted cooperation between the two sides. Chính reiterated Việt Nam’s strong commitments … [Read more...] about Việt Nam to play more active role at UN: PM

Norwegian Ambassador Grete Lochen writes to Việt Nam News on Norwegian Constitution Day, celebrated on May 17. Another Norwegian Constitution Day has come. I am very happy but also emotional to share my last address on this day as Norwegian Ambassador to Việt Nam. Norwegians celebrate May 17 as our National Day. On this day in 1814, Norway’s first constitution was signed. The Norwegian constitution is the second oldest in the world still in use. 208 years have passed but the core values of sovereignty of the people, separation of powers and individual rights enshrined in our Constitution remain because they form the backbone of Norway today. Openness, free exchange of opinions, inclusive decision-making processes and effective rule of law are the cornerstones of a modern, dynamic society. Therefore, the Norwegian society understands that we must continue to protect these values actively at home and through our international work. This is more important than ever in a world of … [Read more...] about Norway-Việt Nam to further cooperate in various fields

Norwegian Ambassador Grete Lochen writes to Việt Nam News on Norwegian Constitution Day, celebrated on May 17. Another Norwegian Constitution Day has come. I am very happy but also emotional to share my last address on this day as Norwegian Ambassador to Việt Nam. Norwegians celebrate May 17 as our National Day. On this day in 1814, Norway’s first constitution was signed. The Norwegian constitution is the second oldest in the world still in use. 208 years have passed but the core values of sovereignty of the people, separation of powers and individual rights enshrined in our Constitution remain because they form the backbone of Norway today. Openness, free exchange of opinions, inclusive decision-making processes and effective rule of law are the cornerstones of a modern, dynamic society. Therefore, the Norwegian society understands that we must continue to protect these values actively at home and through our international work. This is more important than ever in a world of … [Read more...] about Together for a sustainable and greener future