Category: Business

Vietnamese and Japanese experts exchanged views on solutions to foster cooperation in digital economy between the two countries at a forum in Hanoi on December 5.

The ‘Vietnam-Japan Policy Research Forum: Digital economy partnership under Indo-Pacific Economic Framework for Prosperity: How should Japan and Vietnam cooperate?’ was held by the Central Institute for Economic Management (CIEM) in coordination the Graduate School of Public Policy under the University of Tokyo, with the support of the Toshiba International Foundation.

Speaking at the event, Nguyen Anh Duong, Director of the CIEM’s Department for General Economic Issues and Integration Studies, highlighted Vietnam’s efforts in boosting digital economy and cooperation in this field.

Kazuo Kusakabe, Chief Representative of Hanoi Representative Office of Toshiba Asia Pacific Pte Ltd, pointed to substantial potential for the two countries to strengthen their collaboration in digital economy.

Vietnam and Japan issued a joint statement on the elevati
on of their relations to a comprehensive strategic partnership for peace and prosperity in Asia and the world last month, which also mentioned enhancing cooperation in digital economy, he stressed.

Participants said Vietnam should work to raise its capacity for digital economy in combination with its partnerships in this regard. They also discussed changes in the Vietnam-Japan relations, and international trends and developments that affect economic cooperation in the Indo-Pacific./.

Source: Vietnam News Agency

A delegation from the Republic of Korea (RoK)’s Chungcheongnam province held talks and signed a cooperation agreement with authorities of the northern province of Bac Giang on December 5.

Speaking at the event, Chairman of the provincial People’s Committee Le Anh Duong said the RoK now ranks first in terms of the number of projects and second in investment capital among 30 countries and territories investing in Bac Giang.

In particular, Bac Giang has the Vietnam-Korea Vocational College of Technology, which effectively contributes to the goal of developing a skilled workforce that meet the requirements of the local industrial sectors and Korean businesses in Vietnam.

At present, Bac Giang has 1,750 workers employed in the RoK, and nearly 1,200 Korean workers are working in the province. Cultural and economic exchanges between Bac Giang and the RoK are increasingly expanding.

The RoK is the second largest export-import market of Bac Giang, with bilateral trade turnover totalling 13.3 billion USD last year
, up 46.2% annually. In the first 11 months of this year, the figure reached around 14.8 billion USD, or 31.2% of the province’s total export-import turnover.

Bac Giang exported various goods to the RoK, including apparel, leather and footwear, computers, electronic products and components, phones and accessories, processed and fresh farm produce. It imported raw materials and accessories for apparel, leather and footwear, computers, electronic products and components, phones and accessories, machinery and equipment, processed and fresh farm produce from the RoK. The import turnover from the RoK accounted for 35.5% of the province’s total.

Governor of Chungcheongnam province Kim Tae-heum expressed his hope that diplomatic ties between the two localities will be further strengthened both in depth and width.

After the talks, the two sides signed a cooperation agreement on the regular exchange of delegations to share managerial experience, cultural exchanges to raise understanding of each other’s history and
culture, economic cooperation in industrial and agricultural development, and collaboration in the fields of health care, education, training, high-quality human resources and labour exchange, among others./.

Source: Vietnam News Agency

The first batch of ‘Dien’ pomelos weighing 16 tonnes, part of an order of 48 tonnes, from Luong Son district, the northern province of Hoa Binh, was exported to the US on December 5.

Speaking at the ceremony, Vice Chairman of the provincial People’s Committee Dinh Cong Su affirmed that it is the second year Hoa Binh has exported Dien pomelos, but there is a significant difference compared to December 2022 when only one container was flown to the UK.

He said this year, the province has received orders for the pomelo from several EU countries and three orders from the US, affirming the expansion of export markets and the rapid increase in the export volume of agricultural products from Hoa Binh.

At present, the pomelo tree is becoming a key crop in Hoa Binh. In particular, the area dedicated to Dien pomelos this year has reached over 3,200ha, accounting for nearly 60% of the total pomelo cultivation area and 31% of the citrus tree area in the province. The expected yield of Dien pomelos this year is over 52
,000 tonnes, mostly in Yen Thuy, Luong Son, and Kim Boi districts.

Local agencies and localities support pomelo growers, by expanding the areas that are granted identification codes, regularly monitoring food safety and those subject to plant quarantine, enhancing training for farmers and supplying essential supplies for production. Support has also been extended to farmers in acquiring certifications such as VietGAP and GlobalGAP. As the result, the quality of exported pomelos has improved considerably./.

Source: Vietnam News Agency

There remains ample room and potential for Ho Chi Minh City and Saint Petersburg City of Russia to increase trade turnover and expand investment cooperation in digital transformation, manufacturing and processing industry, pharmaceuticals, healthcare and education, heard a business forum in HCM City on December 5.

Addresssing the event, which was hosted by the Committee for External Relations of St. Petersburg, Director of the HCM City Department of Foreign Affairs Tran Phuoc Anh said that the fruitful development of friendship and cooperative relations between Vietnam and Russia in recent times has created a favourable foundation for the HCM City – Petersburg friendship to constantly develop.

HCM City considers St. Petersburg one of 12 key localities that it will actively promote cooperation with in the coming time, he noted.

According to the official, there is a great prospect for the two sides to strengthen economic cooperation because HCM City is a potential market with a growing number of middle-clas
s people, and an attractive investment destination with advantages in terms of geographical location, political stability, flexibility, and support policies for foreign businesses and investors.

HCM City has chosen green growth as its future development strategy, focusing on innovation, developing modern infrastructure, and improving the efficiency and competitiveness of the economy, thus promoting sustainable economic growth, Anh added.

Grigoriev Evgeny Dmitrievich, Chairman of the Committee for External Relations of St. Petersburg, highlighted the development of the bilateral relations between Vietnam and Russia, and relationship between localities of the two countries, including HCM City and St. Petersburg.

HCM City is home to over 20 Russian businesses, while there are more than 60 enterprises in St. Petersburg regularly doing business with Vietnamese companies, he said. However, Dmitrievich noted that the above-mentioned numbers do not fully reflect the potential for cooperation between the two sides.

Businesses of the Vietnamese and Russian cities have the demand to set up cooperation in information technology, health care, and education, he added.

The authorities of St. Petersburg encourages its businesses to promote trade and investment cooperation with foreign firms, including those from Vietnam, Dmitrievich said.

Goryshina Olga Anatolievna, vice head of the Committee for Industrial Policy, Innovations and Trade of St. Petersburg, said St. Petersburg is one of the cities with developed industry and vibrant commercial activities in Russia. Goods produced in St. Petersburg are currently exported to more than 100 countries around the world, including Vietnam.

Vietnam, and HCM City in particular, can enhance cooperation with the Russian city in the fields of shipbuilding and water treatment, she said.

Representatives from businesses of St. Petersburg said that HCM City is not only the largest economic hub in Vietnam but also an international trade gateway that connects dynamic economic regions in Asia.
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Source: Vietnam News Agency

Hai Phong city’s Economic Zone Management Board and the US Customs and Border Protection on December 5 organised a workshop on developing a free trade zone and a non-tariff zone in the city.

Speaking at the event, Le Trung Kien, head of the board, said that the city is preparing for the construction of a new 20,000-ha economic zone in the south of the city, adding it will offer incentives to investors in the development of a free trade zone while also focusingon developing a 752-ha non-tariff zone at Lach Huyen International Port.

Kully Nelson, Commercial Attaché at the US Embassy in Vietnam, said that the workshop concretises the cooperation agreement between Vietnam and the US that leaders of the two countries reached during the US President Joe Biden’s visit to Vietnam over two months ago. It also demonstrates the cooperation between the US Embassy in Vietnam and Hai Phong city in terms of trade.

As of November 30, 2023, there had been 904 foreign investment projects in Hai Phong city with a total inve
stment capital of nearly 30 billion USD, with 520 of those located in industrial parks and economic zones and totally capitalised at 25.98 billion USD. In the first 11 months of 2023, Hai Phong attracted 3.2 billion USD in foreign direct investment, accounting for 160% of its plan./.

Source: Vietnam News Agency

With their beautiful designs and reasonable prices, Vietnamese products are dominating the Christmas market, and preferred by many domestic customers.

Faux Christmas trees, Santa’s sleigh, and reindeer, begin popping up and lighting up all over the capital city, particularly in such streets as Hang Luoc, Hang Ma and Luong Van Can which sell deco items.

Local firms have churned out various Christmas accessories like pine cones, Santa suits, snow princess dresses, and Christmas trees, whose prices are higher than those imported, but not too much.

Nguyen Thi Ngoc from Bac Tu Liem district said she prefers made-in-Vietnam products as they are hand-made, with diverse designs and affordable prices.

Apart from holiday deco items, the shops also offer Santa suit rentals to meet the increasing demand over the past years.

Experts suggested consumers select products of prestigious facilities, and pay more attention to their origin and quality to ensure that they are safe for their children./.

Source: Vietnam Ne
ws Agency