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Room for Vietnam-Russia trade growth remains large: Deputy PM

November 17, 2019 by hanoitimes.vn

The Hanoitimes – Activities including trade expos are expected to tighten economic ties between the two countries which will celebrate the 70th anniversary of diplomatic ties next year.

Two-way trade between Vietnam and Russia is of great potential and Vietnamese authorities will create more favorable conditions for the investment and operations of Russian firms, Vietnamese Deputy Prime Minister Trinh Dinh Dung has said.

Vietnam’s Deputy Prime Minister Trinh Dinh Dung. Photo: Linh Pham

Vietnam and Russia trade will greatly depend on vision and determination from the both sides, especially the business communities, Dung said at the Expo-Russia Vietnam 2019 taking place in Hanoi on November 14-16.

Being a member of 13 free trade agreements (FTAs), 12 of which are already effective, Vietnam has been committed to international regulations requiring high standards for goods and trade activities, Dung said, adding that FTAs will encourage foreign companies to enter Vietnam, ASEAN, and Asia as well.

Russian Ambassador to Vietnam Konstantin Vnukov. Photo: VTC News

The enforcement of the Vietnam-Eurasian Economic Union Free Trade Agreement (VN-EAEU FTA) is a strong boost for the Vietnam-Russia trade, he noted.

Accordingly, Vietnam expects its leather and footwear, agro-forestry-fisheries, electronics and consumer goods to further penetrate into Russia and other markets in the Russia-led Eurasian Economic Union (EAEU).

Vu Tien Loc, president of the Vietnam Chamber of Commerce and Industry. Photo: Linh Pham

Meanwhile, Vietnam welcomes Russian goods like farm produce, pharmaceuticals, health, industrial equipment, automobile spare parts, devices, mine extraction, materials, high-tech products, energy, and oil.

Sergey Anatolievich Tsyb, first deputy minister of Russian Ministry of Industry and Trade, said at the expo that Vietnam ranks among Russia’s top 10 Asian biggest trade partners and the biggest trade partner in ASEAN.

Health and pharmaceuticals are among sectors posting the strongest growth in the bilateral economic ties and Russian companies are finding opportunities to cooperate in these sectors as Vietnam has a strong health industry.

Russian companies are ready to supply the best materials which are highlighted in this expo for Vietnamese partners, he emphasized.

Senior Russian offcials attend the expo. Photo: Linh Pham

Expo-Russia Vietnam 2019 is one of the main activities celebrating Vietnam Year in Russia and Russia Year in Vietnam 2019.

The expo will open up opportunities to exchange goods and find out new collaborative ways that will support companies and facilitate short-term trade between the two countries, Russia’s Ambassador to Hanoi Konstantin Vnukov said at the event.

Sergey Anatolievich Tsyb (1st from left), first deputy minister of Russian Ministry of Industry and Trade. Photo: Ha An

Russian Foreign Minister Sergei Lavrov said in a letter sent to the expo that the event is necessary for information exchange and partnership for enhanced economic ties, of which Vietnam has contributed tremendously to the substantive cooperation.

The expo showcases booths of nearly 200 Russian companies and localities in Vietnam. More than 300 exchange meetings have been held during the three-day event.

Vision

Vietnam-Russia trade value in 2014-2020. Source: General Department of Vietnam Customs. Chart: Linh Pham

The bilateral economic ties have significantly increased since the enforcement of the free trade agreement between Vietnam and the Russia-led Eurasian Economic Union (EAEU).

As a result of the launch of this mechanism, Vietnam will obtain a privileged access to the large and lucrative common market of five countries namely Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan with the total volume of gross domestic product of around US$2.2 trillion and with almost 183 million consumers.

In exchange, the five Eurasian countries will be able to promote their products in Vietnam with a population of over 95 million people.

Two-way trade rose from US$2.6 billion in 2014, US$3.9 billion in 2015, US$5.2 billion in 2017, US$6.1 billion in 2018 and is estimated to reach US$10 billion by 2020, according to the General Department of Vietnam Customs.

Filed Under: Trade Service Expo-Russia Vietnam 2019, EAEU, EVFTA, Trinh Dinh Dung, Vu Tien Loc, Sergei Lavrov, Sergey Anatolievich Tsyb, Konstantin Vnukovrn, deputy pm, vietnam economy growth, vietnam economic growth, global trade growth, large meeting room, deputy pm of india, trade partners of russia, ClearBridge Large Cap Growth Fund, trade growth media pvt ltd, Russia Trade, Trade with Russia, PM Room

Thailand’s Udon Thani Province wishes to take lead in cooperation with Vietnam

March 2, 2021 by en.nhandan.org.vn

The Udon Thani official made the remark during a working session with Vietnamese Ambassador to Thailand Phan Chi Thanh on the occasion of the latter’s working visit to the province from February 23 to 28.

Sayam Sirimongkorn spoke highly of the Vietnamese community in Thailand as a whole and in Udon Thani in particular, who, he said, have always showed a great sense of solidarity, complied with the law and made significant contributions to the locality.

Ambassador Phan Chi Thanh thanked the provincial authorities for offering valuable support to the Vietnamese community, voicing his hopes that the Udon Thani leaders will continue to create favourable conditions for the Vietnamese community and help them in terms of policies and law, as well as supporting the work of local Vietnamese associations.

Highlighting the province’s advantages for boosting cooperation with Vietnam, the ambassador suggested the two sides strengthen the discussion of cooperation opportunities, including coordinating on the organisation of the Vietnam-Thailand Business Forum in Udon Thani in Q2 2021, on the occasion of the 45 th anniversary of Vietnam-Thailand diplomatic ties.

During a meeting with Vichian Khaokham, chair of the Udon Thani provincial administration organisation, Thanh shared the socio-economic development experiences of Vietnamese localities with similar conditions to Udon Thani, agreeing that the two sides need to soon prepare for the exchange of delegations and the signing of cooperation documents immediately after the air route between the two countries is reopened.

The Udon Thani leaders agreed to create favourable conditions for the Vietnamese community to further develop their business & investment activities in the locality, towards establishing Vietnamese business and culinary streets in Udon Thani when conditions allow.

Ambassador Phan Chi Thanh at a meeting with Rector of Udon Thani Rajabhat University Charoon Thawornchak.

The delegation from the Vietnamese Embassy also paid a working visit to the Udon Thani Rajabhat University, during which the university’s rector, Charoon Thawornchak, highly lauded its educational cooperation with partner universities in the Vietnamese provinces of Thai Nguyen, Dien Bien and Quang Ninh. He expressed his wish for enhanced cooperation between Udon Thani and Vietnam in the time ahead, especially in the areas of education and people-to-people exchange.

For his part, Ambassador Phan Chi Thanh emphasised the educational cooperation potential between Thai universities and their Vietnamese partners, suggesting the two sides proactively facilitate such connections.

During the trip, Ambassador Phan Chi Thanh and Luong Xuan Hoa, president of the association of Vietnamese people in Udon Thani, met with young overseas Vietnamese in Thailand. Thanh briefed them on the situation in Vietnam as well as the success of the 13 th National Party Congress with its adoption of a socio-economic development strategy to turn Vietnam into a developed country by 2045.

Ambassador Phan Chi Thanh meets with young Vietnamese in Thailand.

The ambassador answered many questions from young Vietnamese people regarding how best to connect with Vietnam and expand business investment to the country, import-export and copyright registration procedures, the stock market, naturalisation, and the recognition of Thai master’s degrees in Vietnam.

Young overseas Vietnamese were encouraged to uphold their sense of solidarity and mutual support, and serve as a long-term friendship bridge between the two countries.

On the occasion, Ambassador Phan Chi Thanh and the delegation visited and had meetings with the association of Vietnamese people in Udon Thani and the Thailand-Vietnam businessmen’s association; offered incense to Uncle Ho at a memorial site dedicated to him; and visited the Vietnamese language teaching school at Khanh An Pagoda, as well as a market area for the Vietnamese community.

Filed Under: Uncategorized vietnam news, vietnam business, vietnam travel, vietnam culture, vietnam sports, vietnam politics, hanoi, saigon, ho chi minh city, apec, da nang, hue, hoi an, ..., pathum thani province thailand, where is pathum thani province thailand, udon thani 41000 thailand, udon thani thailand what to do

Vietnam to promote long-lasting relationship with Russia

December 30, 2020 by hanoitimes.vn

The Hanoitimes – Priceless support in the past is said to be the treasury for the further Vietnam-Russia relationship in which defence is one of pillars.

Vietnamese veteran officials have said that Vietnam needs to have long-term strategies to sustain the durable relationship with Russia that has lasted for more than seven decades.

Participants at the workshop. Photo: Baoquocte

The relationship between Vietnam and Russia (and the former USSR) is so special that should be maintained for generations, officials who used to study in the USSR decades ago said at a workshop held in Hanoi on December 30.

Participants said each stage of Vietnam’s development has been marked by the tightened relationship of Vietnam-Russia/USSR, highlighting the Russian great support in the victory and progress of the Vietnam People’s Army, mostly in the wars.

Senior Lieutenant General Vo Van Tuan , Deputy Chief of the General Staff, was trained in USSR. Photo: Baoquocte

The participants affirmed that strengthening the Vietnam-Russia Comprehensive Strategic Partnership is one of Vietnam’s priorities, with a focus on defence cooperation and military training based on the decade-long support.

It’s valuable assets that the leadership and people of Vietnam are determined to keep and the Comprehensive Strategic Partnership needs being enhanced, the delegates insisted at the workshop which is among activities to celebrate the 70th anniversary of the Vietnam-Russia/USSR Defense Relations.

USSR-trained Pham Tuan was the first Asian astronaut. Photo: Baoquocte

In 1950-1990s, USSR/Russia granted great support to Vietnam in both training manpower for the army and supplying weapons to help the country went through several wars against French and American troops, among other.

Lieu. General Pham Tuan recalled the priceless support by both his Russian teachers and people who he considered like his relatives when he attended a pilot course there.

USSR-trained Pham Tuan was the first Asian astronaut.

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Vietnam to realize 6.5% growth target: PM

March 2, 2021 by hanoitimes.vn

The Hanoitimes – It is vital for Vietnam to further boost the development of private sector and public investment funds, in turn contributing to economic growth and creating the foundation for long-term development.

Vietnam would speed up socio-economic recovery to realize the growth target of 6.5% for this year.

Prime Minister Nguyen Xuan Phuc at the meeting. Photo: Quang Hieu

Prime Minister Nguyen Xuan Phuc stressed the view at a monthly government meeting on March 2, which were attended by government leaders and representatives of ministries and sectors.

Among measures to boost growth, the PM stressed the importance of enhancing greater efficiency in global integration to boost exports and attract high quality   foreign direct investment (FDI).

“The current situation presents huge opportunity for Vietnam to attract investment capital,” stressed Phuc, adding a favorable investment environment is a must to keep capital inflow from growing.

In addition to the role of state-owned corporations, Phuc said it is vital for Vietnam to further boost the development of private sector and public investment funds, in turn contributing to economic growth and creating the foundation for long-term development.

According to Phuc, disbursement of public funds is a major mission, for which the Government Office is tasked with inspecting efficiency in disbursing public funds and ODA-funded projects.

Phuc stressed the importance of reviewing current supporting programs and proposing new ones to assist businesses and people affected by the pandemic.

“Nurturing economic growth drivers and creating long-term revenue sources are the objective for monetary and fiscal policies,” said Phuc.

The PM requested major economic hubs to play a greater role in aiding economic growth, especially Hanoi, Ho Chi Minh City, Vung Tau, Danang, and Can Tho.

For economic sectors that are struggling with the Covid-19 impacts, including those in fields of aviation, services, and tourism, Phuc called for substantial measures to address their concern and difficulties.

Expansionary fiscal, monetary policies to boost growth

At the meeting, Minister of Planning and Investment Nguyen Chi Dung said Vietnam remains steadfast in pursuing expansionary fiscal and monetary policies to boost economic growth and control inflation rate.

Dung referred to a forecast that the Covid-19 pandemic would continue to exert its impacts on the global economy until at least the first half of 2021 or when Covid-19 vaccines are rolled out worldwide, as such, “keeping expansionary fiscal and monetary policies are necessary,” he added.

“It is important to enhance efficiency in the combination of fiscal and monetary policies to aid economic recovery and keep inflation under control,” Dung asserted.

“Government agencies and provinces/cities should closely monitor the market situation to timely propose supporting policies for people and businesses affected by the pandemic, especially for those operating in services, tourism and transportation sectors,” stressed Dung.

Meanwhile, the minister urged to stay alert against the Covid-19 pandemic as the country aims to ensure the realization of the dual target of both containing the pandemic and boosting economic recovery.

Amid the Covid-19 outbreak, Dung requested related agencies to soon issue a uniform safety procedure during the production and distribution of farm produce from Covid-19 zones to other localities.

While the world is still struggling with the Covid-19 impacts, “the domestic market remains a priority,” asserted Dung.

Dung also highlighted the importance of applying hi-tech and accelerating the digital transformation process and promoting e-commerce, in which local authorities should provide more support for enterprises to shift their operation online and apply e-payment methods.

“Vietnam would step up efforts in diversifying trade markets depending on the actual Covid-19 situation globally, while taking this opportunity to restructure the country’s export-import activities to reduce its reliance on a single market,” noted Dung.

With foreign direct investment (FDI) as a key source for economic growth, Dung called for a more selective approach in attracting such capital inflow, including a thoroughly review of M&A activities related to enterprises operating in national core and strategic business fields with high socio-economic impacts.

“The move is necessary to ensure favorable conditions for FDI attraction, protect domestic enterprises and prevent tax evasion through investment activities,” Dung concluded.

Filed Under: Uncategorized Vietnam, socio-economic recovery, GDP growth, Covid-19 pandemic, Nguyen Xuan Phuc, vietnam reforms and economic growth, economic growth of vietnam, economic growth in vietnam

Russia-Vietnam strategic partnership: natural result of long-term relations

March 2, 2021 by hanoitimes.vn

The Hanoitimes – The two countries have determined to expand their bilateral ties in the new historical conditions.

The Strategic Partnership between the Russia and Vietnam is a natural result of decades-long fruitful collaboration between the two countries, according to a Russian diplomat.

The Vietnam-Russia relations upgraded to strategic partnership 20 years ago. Photo: Vietnam Briefing

Maria Zakharova made the statement on the occasion of the 20th anniversary of the bilateral strategic partnership, saying that the relations over the past 20 years has achieved impressive results.

The declaration of the diplomatic relationship, which was signed in Hanoi on March 1, 2001, materialized the Russian and Vietnamese peoples’ wish to progressively strengthen their intergovernmental relations based on many years of friendship and mutually advantageous cooperation,” Russian Foreign Ministry Spokesperson Maria Zakharova said.

She named the milestone is “historic” and marks the cooperation in a variety of fields and showed the two countries’ determination to expand bilateral ties in the new historical conditions on the basis of their rich experience of interaction accumulated over the previous period of time.

Political dialog at the top and high levels has become regular. The cooperation in the trade, economic, military, military-technical, scientific, technological and humanitarian spheres has got an additional impetus.

Meanwhile, inter-parliamentary and interparty exchanges as well as inter-regional contacts have become more active.

“We have developed new cooperation mechanisms which enable more efficient interaction so as to find ways of solving pressing issues concerning bilateral affairs and close coordination on the international arena. It is indicative that our strategic partnership became comprehensive by mutual consent in 2012,” the spokeswoman stressed.

She highlighted the solidarity and unchanging mutual support, typical in the two countries’ joint efforts in containing the spread of the novel coronavirus infection.

Russia and Vietnam have been offering each other the necessary consultative and methodological assistance while their specialized institutions are engaged in a dialogue on a whole range of matters in fighting against Covid-19 pandemic, constantly exchanging experience in combating this dangerous disease, Maria Zakharova said.

Today, notwithstanding a complex situation in the region and the world, increased turbulence and radical changes in the entire system of international relations, the all-round strategic partnership between Russia and Vietnam based on many years of experience of fruitful cooperation remains an important part of Russian foreign policy in the Asia-Pacific region, she noted.

Filed Under: Uncategorized Vietnam Russia, strategic partnership, 20 years, spokeswoman, consensus at last long term results, long term partnership, long term exposure to natural gas

$193,800 in damage caused by HCMC flight attendant breaching Covid-19 protocols

March 2, 2021 by e.vnexpress.net

The police have recommended that Duong Tan Hau, 29, a Vietnam Airlines attendant, to be charged for “spreading dangerous infectious diseases in humans.”

Hau breached regulations when staying at the airline’s quarantine facility and after returning home for designated self-isolation. His irresponsibility triggered a community outbreak of the novel coronavirus, according to police.

He had returned to Vietnam from Japan on Nov. 14 and was quarantined for four days at a facility managed by Vietnam Airlines in HCMC’s Tan Binh District. While there, Hau broke the rules by visiting another quarantine area and ended up contracting the virus from another crew member who had returned from Romania.

As per Vietnam’s protocols on Covid-19 prevention, pilots and attendants need to use dedicated restrooms and their own vehicles once off the plane. No contact is allowed with passengers during flights.

After two tests showed he was negative for the novel coronavirus, Hau was released from the airline’s facility, but told to isolate himself at home for another 14 days.

At home, Hau came in contact with his mother and two friends, including a visiting English language teacher.

On Nov. 29, 15 days after he returned from Japan, he tested positive for the virus, with the teacher following suit the next day. The latter later infected a nephew and a student.

The outbreak broke Vietnam’s 89-day and HCMC’s 120-day streak without community transmissions at the time.

Hau was placed under criminal investigation for his actions on Jan. 11, and is held under house arrest.

Authorities concluded Hau’s actions had resulted in around VND4.475 billion in damage, including the cost for Covid-19 testing, contact tracing and isolation. The lives of over 2,000 people in HCMC were also affected by quarantine measures.

Hau is the first case in Vietnam where flouting Covid-19 prevention regulations is treated as a crime, but he was not the last. Two others, a man in Mekong Delta’s Vinh Long Province who illegally entered Vietnam and a woman in northern Hai Duong Province who did not declare her travel itinerary nor who she came in contact with, are also being probed on the same charge.

Vietnam has recorded 2,472 Covid-19 cases so far, with 541 still active.

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