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Vietnamese Prime Minister Nguyen Xuan Phuc said he supports the efforts of China and ASEAN in developing their foundation of connectivity in terms of mutual trust, physical connection, and human connection. The Vietnamese head of government made the statement at the 21st ASEAN-China Summit held in Singapore on Wednesday, as part of the 33rd ASEAN Summit framework. The event also celebrated 15 years of strategic partnership between the two sides. PM Phuc underlined ASEAN and China should increase dialogue efforts and collaboration, as well as build mutual trust and uphold international law, contributing to the formation of codes of conduct for an open, transparent, and rules-based regional structure, according to the Vietnam News Agency . The Vietnamese premier said the East Vietnam Sea issue remains complex, causing concern for all sides involved and possible negative impacts on regional stability. He underscored that ASEAN and China should continue upholding the principles … [Read more...] about Vietnam premier backs ASEAN-China cooperation

Chinese State Councilor and Foreign Minister Wang Yi (Photo: Xinhua/VNA) Hanoi (VNA) – China is ready to work with ASEAN to build an even closer community with a shared future, and open up another three decades of even greater cooperation, said Chinese State Councilor and Foreign Minister Wang Yi at a press conference on the nation’s foreign policy and external relations. At the event, held via video link on the margins of the Fourth Session of the 13th National People's Congress, Wang stated China and ASEAN countries need to remove distractions and press ahead with consultations for a code of conduct (COC) in the East Sea (South China Sea), and work toward the early conclusion of a set of regional rules that are more substantive and effective, consistent with international law and serve the needs of all parties. He added the sides should continue the full and effective implementation of the Declaration on the Conduct of Parties in the waters (DOC) in order to build … [Read more...] about China willing to strengthen ties with ASEAN: Chinese FM

Small investors oppose expanding trading lot Ho Chi Minh City Stock Exchange (HOSE)’s proposal to raise the minimum trading lot to 1,000 shares is receiving mixed opinions from market experts and investors. The proposal was initiated by newly-appointed General Director of HOSE Le Hai Tra as a solution to reduce system overloads which have troubled traders recently. A 1,000 minimum trading lot will limit the participation of small investors, while the stock market is moving towards fairness and equality, said a budding investor. “My friends and I, when joining the stock market, only have a few tens to several hundreds of millions of dong, raising the minimum trading lot to 1,000 shares will directly affect our investment capacity,” said individual investor Diep. “With expensive stocks, we may have to spend hundreds of millions of dong to buy the minimum 1,000 shares,” she said. According to Diep, the stock market has never had such a chance for growth. New cash flow into … [Read more...] about VIETNAM BUSINESS NEWS MARCH 8

Rice is among key exports of Kien Giang province. (Photo: VNA) Kien Giang (VNA) – The Mekong Delta province of Kien Giang gained more than 103 million USD from exports in the first two month of the year, surging 12 percent from the same time in 2020. This is a robust sign in the locality’s trade activities amidst complicated developments of COVID-19. According to the provincial Department of Industry and Trade, growth was seen in the shipment of seafood (over 37 million USD, up 25.6 percent), and leather shoes (over 22.6 million USD, up nearly 3 percent). Meanwhile, export of rice fell 35.37 percent year-on-year to 17 million USD. With a view to boosting exports, the province has sharpened focus on trade promotion activities, as well as worked to consolidate traditional markets and expanding markets for local key products, particularly rice and seafood. In the meantime, the department keeps local exporters updated with the import-export situation and measures … [Read more...] about Kien Giang’s export turnover picks up 12 percent

As 2020 is coming to end, how do you evaluate the development of businesses that received recognition during the Vietnam Value Programme? Vu Ba Phu, director general of the Trade Promotion Agency under the Ministry of Industry and Trade After 17 years of running the programme with seven times choosing national brands, we have witnessed the continuous growth of many domestic enterprises. At the first selection in 2008, we saw only 30 chosen companies with their products. By 2018, this number had grown to 97, and this year we have recorded 124 enterprises and their brands. However, the growth of the business community has not only happened in the number of participating businesses, but also export turnover, sales, and their contribution to the state budget, as well as their efforts in social responsibility and job creation. For example, firms recognised as national brands in 2018 reached a revenue of about VND907 trillion ($39.4 billion), with their export turnover … [Read more...] about Initiative’s success helped by quick response to pandemic