The Ministry of Foreign Affairs on Wednesday handed over a diplomatic note to representatives from the Chinese embassy in Hanoi to protest the Chinese vessel’s action this month of using a water cannon to drive off the Vietnamese fishing boat off the Hoang Sa (Paracel) Archipelago, according to an official statement made by the ministry on Thursday. On March 6 Chinese vessel numbered 44101 rammed and sank a Vietnamese fishing boat while it was fishing in the Da Loi (Discovery) Reef off the Paracel Archipelago, according to the National Committee for Incident, Natural Disaster Response and Search and Rescue. The boat from the central province of Quang Ngai sank and the five fishermen on board clung on to it until they were rescued by another Vietnamese fishing boat. The fishermen said after returning to shore that the Chinese vessel chased after them, sprayed water cannons and forced their boat into a reef. They suffered estimated losses of VND3 billion ($129,200). The … [Read more...] about Vietnam foreign ministry demands compensation from China for sinking fishing boat
Vietnam foreign office
Vietnam, Germany boost more cooperation
During the talks, both sides assessed the relationship between the two countries with great potential for cooperation and agreed to promote exchanges of delegations at all levels in the coming time, especially exchanges between the countries’ economic sectors, localities and enterprises, and to cooperate in building a program to celebrate the 45th anniversary of the Vietnam-Germany diplomatic ties in 2020. Permanent Deputy Foreign Minister Bui Thanh Son (R) and State Secretary of the Federal Foreign Office of Germany Andreas Michaelis. Source: news.zing.vn The two sides also highly valued the importance of the Vietnam-EU Free Trade Agreement (EVFTA) and the German side affirmed that it will make great efforts to push up the signing of the EU-Vietnam Free Trade Agreement (EVFTA). The German side expressed pleasure at the effective operation of the Germany-Vietnam University in Binh Duong province and agreed to continue support for Vietnam in training … [Read more...] about Vietnam, Germany boost more cooperation
Vietnam, Germany look to foster all-around relations
Deputy Foreign Minister Bui Thanh Son (R) and State Secretary of the Federal Foreign Office of Germany Andreas Michaelis (Source: VNA) Berlin (VNA) - Deputy Foreign Minister Bui Thanh Son held talks with Andreas Michaelis, State Secretary of the Federal Foreign Office of Germany, on November 1 as part of his ongoing working visit to the European country. During the talks, the two sides informed each other about the situation in each country. The German side spoke highly of Vietnam's achievements in socio-economic development and international integration; as well as the Southeast Asian nation’s important role and position in ASEAN and in the Asia-Pacific region, saying that this is an important basis for the two sides to enhance cooperation in the coming time. They highlighted the great potential for strengthened bilateral cooperation in the coming time, and agreed to promote exchange of delegations at all levels in the time to come, especially those among … [Read more...] about Vietnam, Germany look to foster all-around relations
Foreign life insurers stepping up game in Vietnam
The consecutive launching of a slew of new products helps foreign-invested life insurers, new and old alike, to strengthen their dominance in the Vietnamese insurance market. Foreign insurance companies are ramping up activities in Vietnam Foreign-invested life insurers launch a series of new products Many foreign life insurance companies have launched new and impressive products in the recent past. By the end of August 2018, Sun Life Vietnam launched its “SUN—Huu tri thanh nhan” (Leisure retirement) product, which is known as Sun Life’s trademark product due to the company’s strength in voluntary retirement programme. By the last day of July 2018, the total assets of Sun Life Vietnam’s pension funds reached VND1.3 trillion ($5.75 billion), serving over 60 businesses with about 30,000 labourers. Meanwhile, a big company from Italy, Generali Vietnam, focuses on health protection products. Its new product launched in September 2018, … [Read more...] about Foreign life insurers stepping up game in Vietnam
Foreign real estate brokers jump into Vietnamese real estate market
The real estate market in Vietnam has been active with new arrivals from foreign brokers and consultants. Besides foreign brokers who have more than 15 years of operating experience in Vietnam, such as Savills and CBRE or Colliers International and Jones Lang LaSalle (JLL) who came somewhat later, the Vietnam real estate market has drawn many new arrivals to the field. Most recently, real estate agency PropNex has entered into a master franchise agreement with PropNex Realty Vietnam to grow its business in Vietnam. New foreign faces are appearing in the Vietnamese real estate market According to the agreement, Singapore-based PropNex gets a 25 per cent stake in the Vietnamese franchisee for a nominal sum of $1. According to Ismail Gafoor, CEO of PropNex, with its growing economy and positive forecast for the real estate market, Vietnam will be an important place for PropNex to establish its brand. Vietnam is the latest office of ProNex, following Singapore, Malaysia, and … [Read more...] about Foreign real estate brokers jump into Vietnamese real estate market