Interconnected economies benefiting from global value chains

Japan will give post-COVID-19 support to over 100 overseas Japanese-invested projects, including more than 40 in Vietnam, but the Southeast Asian country needs to overcome certain challenges facing them, a Japanese trade official said. Nobuyuki Matsumoto, chief representative of the Japan External Trade Organization (JETRO)’s Ho Chi Minh City Office, released the information at a press briefing held recently at the twin launch of the upcoming METALEX Vietnam Exhibition and Supporting Industry Exhibition 2022 in October this year. Since 2021, the Ministry of Economy, Trade, and Industry of Japan has implemented an investment aid policy for Japanese firms abroad, aiming to diversify supply chains in the face of the heavy impacts of the COVID-19 pandemic, Matsumoto said. Among the 103 Japanese-invested projects selected by the Japanese government after five rounds of consideration for support, Vietnam took the lead with 41 projects, followed by Thailand with 25, and Malaysia and … [Read more...] about Vietnam emerges as focus of Japan’s post-pandemic supply chain diversification

Leaders of the military-owned Viettel Group made the proposal at a Tuesday meeting with Prime Minister Pham Minh Chinh. The proposal was made in the context of the recent global chip shortage, which has seriously affected many manufacturing sectors and business areas, prompting several countries to promote chip production as a national security measure. In this context, the group also asked to be assigned the tasks of ensuring national defense and security, promoting its strengths and demonstrating the pioneering role of state-owned companies in the fields of high-tech defense, construction and cyber security and safety. Viettel said it wanted to deploy a national digital conversion platform, and work as an intermediary for financial switching services and electronic clearing services to facilitate transfer of funds from one bank account to another. The group also wanted permission to research green energy technology and modernize important infrastructure in the field of … [Read more...] about Viettel to produce chips amidst global shortage

Illustrative image. (Photo: SGGP) In mid-August, preparation activities for the new school year contributed to an increase in the consumer price index (CPI) in the third quarter, helping to keep a strong and stable growth in the service and retail sales sectors of Ho Chi Minh City. The policy of not increasing hospital fees and tuitions until the end of 2022, even becoming a pioneer in supporting and implementing the proposal of the Ministry of Education and Training in exempting and reducing tuitions, is an important orientation. On the one hand, the city strives to achieve the key goal of stabilizing the CPI. On the other hand, it strengthens the price stabilization of goods for the new school year and essential items of the food and foodstuff group as a practical move to share the burden with people and parents. The total retail sales of consumer goods and services in the city in July increased by 1.4 percent compared to the previous month and 139.8 percent compared to the … [Read more...] about HCMC with upward, downward trends

Hanoi (VNA) - The following is a list of selected news summaries last night by the Vietnam News Agency . - Prime Minister Pham Minh Chinh suggested Qatar step up investment cooperation with Vietnam in infrastructure development, oil, renewable energy, green technology and digital transformation while hosting visiting Qatari Deputy PM and Foreign Minister Qatar Sheikh Mohammed bin Abdulrahman Al-Thani on August 15. Qatari Deputy PM and Foreign Minister Qatar Sheikh Mohammed bin Abdulrahman Al-Thani pays a courtesy call to Prime Minister Pham Minh Chinh on August 15. (Photo: VNA) PM Chinh highly spoke of the progress the two countries have made in their multifaceted partnership and active mutual support at multilateral forums. Congratulating Qatar on the signing of the instrument of accession to the Treaty of Amity and Cooperation (TAC) of ASEAN, the PM said Vietnam backs a close, effective and comprehensive cooperation between ASEAN and Qatar. Read full story - … [Read more...] about ☀️ Morning digest August 16

The Government's support should be strengthened with the participation and practical actions of the domestic private sector. (Photo: nongnghiep.vn) SBV Governor Nguyen Thi Hong said that climate change is posing risks and challenges to all economies in the world, requiring them to promptly design responce policies and scenarios. As one of the most vulnerable countries to climate change, Vietnam has actively rolled out measures to deal with its impacts and promote green and sustainable growth at the same time, said Hong. She underlined that the strong commitments Prime Minister Pham Minh Chinh announced at the 26th UN Climate Change Conference (COP26), including net-zero emission in 2050, have been highly valued by the international community, opening chances for the country in strengthening partnership in circular economy development and climate change response. The official said that over the years, the banking sector has actively contributed to the implementation of … [Read more...] about Measures sought to attract resources for green, sustainable development

In a group photo: Politburo member and head of the Party Central Committee's Economic Commission Tran Tuan Anh (6th from left) and Graham Stuart, Minister of State (Minister for Europe) at the Foreign, Commonwealth and Development Office (4th from right) and Minister of State in the Cabinet Office Nigel Adams (5th from left). (Photo: VNA) London (VNA) – A Party delegation, headed by Politburo member and head of the Party Central Committee's Economic Commission Tran Tuan Anh, paid a visit to the UK from August 10 – 15, aiming to fortify the countries’ strategic partnership, particularly in economy, trade, and investment. During the trip, the delegation met many UK officials, namely Graham Stuart, Minister of State (Minister for Europe) at the Foreign, Commonwealth and Development Office; Deputy Speaker of the House of Commons Nigel Evans; Minister of State in the Cabinet Office Nigel Adams; Economic Secretary to the Treasury Richard Fuller; and General Secretary of the Communist … [Read more...] about Party officials visit UK for improved strategic partnership