Ambassador of Kazakhstan to Vietnam, Beketzhan Zhumakhanov, has affirmed that his country has always given cooperation priority to its traditional friends, including Vietnam. Ambassador of Kazakhstan to Vietnam, Beketzhan Zhumakhanov, speaks at the press briefing - Photo: VOV The diplomat made the statement while hosting a press briefing in Hanoi on October 24 to introduce the prospects and potential for economic and trade cooperation between Kazakhstan and Vietnam, the Vietnam-China-Kazakhstan-Russia-Turkey-EU transport and logistics corridor, as well as Kazakhstan’s initiative on ensuring and maintaining peace and security in the world. Addressing the event, Ambassador Zhumakhanov said two-way trade between Vietnam and Kazakhstan has seen positive growth in recent years. Official data show that bilateral trade revenues reached US$542.7 million in 2017, up 48% from the previous year. One of the major trade and economic cooperation orientations between Kazakhstan and … [Read more...] about Vietnam, Kazakhstan to expand trade corridors
Confidence building group activities
Fifth ADMM+ boosts confidence building measures
The event saw the participation of Defense Ministers from ASEAN member countries and partners, namely Australia, New Zealand, China, the Republic of Korea, Japan, India, the US, and Russia. General Ngo Xuan Lich, Politburo member, Deputy Secretary of the Central Military Commission and Defense Minister, led the Vietnamese mission to participate in the meeting. After the opening remarks by the host country’s Defense Minister Ng Eng Heng, the participants listened to a report on results of the recently-concluded 12th ASEAN Defense Ministers’ Meeting (ADMM 12) and approved the agenda for the fifth ADMM+, and reviewed reports of ADMM+ working groups and ASEAN Defense Senior Officials’ Meeting Plus (ADSOM+), which took place in Singapore in July this year. An overview of the meeting. Addressing the event, Dr. Hoang Anh Tuan, Deputy Secretary-General of ASEAN for Political Security Community underlined that ASEAN-led cooperation mechanisms such as ASEAN+1, … [Read more...] about Fifth ADMM+ boosts confidence building measures
PM: joining hands in building ASEAN Community amidst Industry 4.0
Prime Minister Nguyen Xuan Phuc (Source: VNA) Hanoi (VNA) – As the host of the 2018 World Economic Forum on ASEAN (WEF ASEAN 2018), Vietnam has the responsibility to work with the WEF and ASEAN to discuss important issues and plans for the development of ASEAN member countries amidst the Fourth Industrial Revolution, said Prime Minister Nguyen Xuan Phuc. This is to help realise the 2025 ASEAN Community Vision, for the interests of the entire region at large and each country individually, contributing to regional and global prosperity, the leader said in a recent article released on the occasion of the WEF ASEAN 2018 from September 11-13 in Hanoi. ASEAN has enormous opportunities to develop and promote economic links thanks to more intensive and extensive globalisation and the rapid spread of the fourth Industrial Revolution, particularly digital technology, internet of things (IoT), artificial intelligence (AI) and big data, he wrote. The PM noted that WEF ASEAN … [Read more...] about PM: joining hands in building ASEAN Community amidst Industry 4.0
THP Group CEO: No limit to human potential
“Life should not be about rumors and darkness if we dare to stand up to them,” THP Group CEO Tran Qui Thanh said. ‘The will that makes victory’ is the very backbone of the spiritual values behind the incessant development and transformation path of Vietnam’s Tan Hiep Phat Beverage Group (THP Group). As I have once said, the power hidden in each human being is unlimited and it is just a matter of whether we have enough will and determination to overcome prejudices, habits, and social norms surrounding us at every step in life, which could be hard to rise above from time to time. The fear we face when we sit down alone and reflect is when we wonder if everything we have done in life would become meaningless. Winning over yourself at such tough times is the greatest victory. We live in a world where among amazing scientific developments human beings have grown more extroverted. Exploring the universe, setting foot on other planets or amassing excessive … [Read more...] about THP Group CEO: No limit to human potential
SE Asia ministers air concerns over Beijing’s activities in disputed waters
Southeast Asian foreign ministers on Tuesday aired concerns over China's activities in disputed areas of the South China Sea, which Vietnam calls the East Sea, noting that land reclamation continued even after talks began between their 10-member bloc and Beijing to agree a code of conduct. Meeting in Singapore, the foreign ministers of the Association of Southeast Asian Nations (ASEAN) welcomed the start of negotiations, while calling for restraint in activities and avoidance of any actions that may complicate the situation. "We discussed the matters relating to the South China Sea and took note of the concerns expressed by some ministers on the land reclamations and activities in the area, which have eroded trust and confidence, increased tensions and may undermine peace, security and stability in the region," Singapore's Foreign Minister Vivian Balakrishnan said. Singapore has taken over the role of chairing ASEAN for 2018, and this week hosts meetings of the group's foreign and … [Read more...] about SE Asia ministers air concerns over Beijing’s activities in disputed waters
BUSINESS IN BRIEF 16/1
Survey helps HCM City plan policyThe 2017 Economic Survey in HCM City has provided basic data about the number of enterprises, workers, the economic efficiency of companies and administrative units and proportion of information technology application, delegates heard at last Friday’s meeting to review the survey.“Such data will be a foundation for city authorities to build action plans and set up policies for socio-economic development in an effort to encourage modern science and technology application in all economic industries and administrative units,” Lê Thanh Liêm, vice chairman of the municipal People’s Committee and head of the Steering Committee for 2017 Economic Survey said.According to the results of the survey, HCM City now has 633,637 economic, administrative and religious units, an increase of 27 per cent in comparison with 2011.Of this amount, there are 173,000 enterprises, an increase of 62 per cent in comparison with 2011 and non-State … [Read more...] about BUSINESS IN BRIEF 16/1
BUSINESS IN BRIEF 10/1
VN steel export up last year Central bank must enhance inspection: PM Prime Minister Nguyen Xuan Phuc on Tuesday required the State Bank of Viet Nam (SBV) to enhance inspection and supervision to ensure the safety of the banking system and increase the confidence of people in the system in 2018.At yesterday’s meeting to review last year’s performance and prepare for implementing tasks in 2018, Phuc also instructed the banking industry to boost the restructuring of ailing credit institutions.Besides ensuring the consumer price index of below 4 per cent, the SBV must also further cut lending interest rate and boost consumer lending this year, Phuc said.He also required the central bank to create favourable conditions for local commercial banks to enhance financial status and operational efficiency, aimed at having a Viet Nam bank, either State-owned or private, at the regional level soon.The Prime Minister has so far entrusted two deputy … [Read more...] about BUSINESS IN BRIEF 10/1
BUSINESS IN BRIEF 9/1
Vingroup, T&T to develop urban railway projects in HanoiThe government of Hanoi City has proposed the Prime Minister allow Vingroup and T&T Group to develop three urban railway projects which the city plans to complete by 2025, Tuoi Tre newspaper reports.The two domestic investors will use their capital to make pre-feasibility studies for these projects.When the projects were announced, many investors expressed interest in Hanoi. However, only Vingroup and T&T Group have registered to take part.Both of them proposed implementing the projects in the build-transfer (BT) format. Particularly, Vingroup registered to build the 38.4-kilometer metro line No. 5 which connects Van Cao and Hoa Lac and metro line No. 2 from Tran Hung Dao to Thuong Dinh with a length of 5.9 kilometers. Meanwhile, T&T Group is keen on metro line No. 4 connecting Me Linh, Sai Dong and Lien Ha, and measuring 54 kilometers in length.The two investors said they would use their own finances to study the … [Read more...] about BUSINESS IN BRIEF 9/1
VN partakes in Mekong-Lancang Cooperation Summit
PM Nguyen Xuan Phuc This year, the biannual conference is co-chaired by Cambodia and China. The first summit was officially launched on March 23, 2016 among six countries namely Viet Nam, Cambodia, Laos, Myanmar, Thailand, and China. The mechanism aims to promote comprehensive cooperation to build a responsible community in favor of sub-regional benefits. In addition, Mekong-Lancang cooperation also targets to consolidate confidence, mutual understanding, peaceful and stable maintenance, promote sustainable growth, reduce poverty, narrow down development gap, beef up comprehensive integration into the regional and global economies; consolidate friendship and fine neighboring relations. Six countries pledged to promote cooperation in three pillars including politics-security, economics, sustainable growth, culture, society, and people-to-people exchanges. Basic principles of cooperation included consensus, equality, cooperation, mutual … [Read more...] about VN partakes in Mekong-Lancang Cooperation Summit
BUSINESS IN BRIEF 5/1
Social housing: Loan interest rate maintained at 5% The State Bank of Viet Nam (SBV) has decided to keep preferential loan interest rate unchanged at 5 per cent for purchase, rent or hire of social housing projects in 2018.The decision took effect from the beginning of this year, replacing Decision No 2544/QD-NHNN, dated December 30, 2016, on interest rate for loans applicable in 2017 for social housing projects.The interest rates will be applied for house buyers who have already sought loans from the VND30 trillion (US$1.32 billion) housing stimulus package launched in 2013 as the minimum repayment term is 15 years, and from the Viet Nam Bank for Social Policies (VBSP).The VND30 trillion (US$1.32 billion) housing stimulus package aimed primarily at social policy beneficiaries and estate developers of such projects. Of which, VND21 trillion, accounting for 70 per cent of the package’s total has been given to home buyers of projects. The remaining 30 per cent … [Read more...] about BUSINESS IN BRIEF 5/1