Day: June 24, 2021

The Vietnamese Government’s implementation of supporting policies to reduce losses in agriculture has contributed to improving the level of mechanisation in Vietnam, prnewswire.com quoted the India-based Ken Research as reporting.

Data from the Ministry of Agriculture and Rural Development in 2020 shows that the level of mechanisation in agriculture is increasing in the pre- and post-harvest stages. Specifically, the rate of mechanisation of agricultural land preparation reached 94 percent; 42 percent of sowing and planting care reached 77 percent and that of rice harvest reached 65 percent, according to Ken Research.

Compared to 2011, in 2019, the number of tractors across the country increased by about 48 percent, combine harvester increased by 79 percent, and agricultural dryer increased by 29 percent. The farm power availability reached about 2.4 HP per ha cultivated.

Due to rapid urbanisation, most of the farmers are shifting to construction and services sector in the hope of earning more wages. Consequently, this has led to a shortage of agriculture labour in Vietnam. This has acted as a major driver for the implementation of machinery in agriculture. The transition of occupational structure from agriculture to other sectors is rapidly occurring in the four regions, namely the Red River Delta, the North Central and the Central Coastal areas, the Mekong River Delta, and the South East.

The demand for agricultural machines decreased during the COVID-19 pandemic. This was due to low production and closure of dealerships and retail shops during lockdown. This was further fuelled by decrease in farmer’s income which led to postponing of agricultural machinery purchases.

Additionally, agricultural equipment companies experienced cash flow difficulties due to the fact that most of the imports were banned and local manufacturing and assemblies were shut down. The demand for machines in the country remained low at the starting of 2020, however there was an increase in demand in the second half of the year post ease in confinement. Slow recovery is expected in 2021.

Analysts at Ken Research observed that Vietnam is a growing agricultural machinery market in Southeast Asia and is slowly recovering from the pandemic. The increasing credit availability in the country along with exemption in taxes is driving the growth of the industry.

Increasing focus on promotional and marketing activities, new product launches, partnerships & collaborations are expected to drive the industry in the future. The country’s agricultural machinery market is expected to grow at a compound annual growth rate (CAGR) of 6.4 percent on the basis of sales revenue over the forecast period 2020-2025./.

Source: Vietnam News Agency

Hanoi’s economy still expanded despite impacts from the COVID-19 pandemic, with its gross regional domestic product (GRDP) up 5.91 precent in the six months of 2021, higher than 3.39 percent recorded in the same period last year, said Vice Chairman of the municipal People’s Committee Le Hong Son.

During a conference held in the capital city on June 24, Director of the municipal Department of Planning and Investment Do Anh Tuan said the city’s state budget collection was estimated at over 124.85 trillion VND (5.42 billion USD) during the period, equivalent to 53 percent of the estimate and a 7.1 percent rise year-on-year.

The city continued supporting investors and firms from business registration to project implementation, creating a healthy and fair environment to access land.

The flow of foreign direct investment reached 694.26 million USD, including 96.05 million USD registered for 171 new projects, 447.7 million USD added to 78 existing projects, and 120.5 million USD in capital contribution and share purchases.

The amount of domestic investment hit over 7.1 trillion VND, including 1.47 trillion VND registerd for 10 new projects and more than 5.63 trillion VND added to 38 underway projects.

There were 13,125 newly-established firms with a total registered capital of over 165.7 trillion VND, up 4 percent in the number of enterprises and down 7 percent in value, bringing the total firms in the city to 314,248.

To achieve a growth rate of 7.5 percent this year, Son called for further attention to the manufacturing and processing sector, allocating State budget to key areas, stepping up the equitisation of State-owned enterprises, providing support for tourism companies in restructuring, popularise Hanoi’s products to cities and provinces, and start construction of industrial complexes on schedule.

He asked the municipal Department of Justice to review and supplement legal documents to lay a legal foundation for sustainable development.

The Vice Chairman also assigned specific jobs to agencies, departments and localities to fulfill key tasks in the remaining months of this year./.

Source: Vietnam News Agency

The 31st Meeting of the States Parties to the 1982 United Nations Convention on the Law of the Sea (UNCLOS) is taking place at the UN headquarters in New York from June 21 to 25.

The event looked into the reports by the bodies established under the convention such as the International Tribunal for the Law of the Sea, the Commission on the Limits of the Continental Shelf, and the International Seabed Authority, along with their procedural, budgetary, and personnel affairs.

At the June 23 debate on the UN Secretary-General’s report about the issues related to seas and oceans, UN agencies’ activities, and international cooperation over the past year, participants called for adherence to the 1982 UNCLOS, and stronger regional and international cooperation in sea and ocean-related areas as well as in responding to such challenges as marine pollution and climate change, thereby contributing to the realisation of Sustainable Development Goal 14 on the conservation and sustainable development of seas and oceans.

Addressing the meeting, Ambassador Dang Dinh Quy, Permanent Representative of Vietnam to the UN, reiterated that the 1982 UNCLOS is a comprehensive framework that regulates all activities in the oceans and seas, helping to guarantee safety, security, and freedom of navigation, maintain international peace and security, and carry out the 2030 Agenda for Sustainable Development.

He highlighted Vietnam’s efforts to promote negotiations on maritime border demarcation with regional countries, the marine environment protection, and bilateral and multilateral cooperation in maintaining maritime security, fighting illegal, unreported and unregulated fishing, and developing the sea-based economy.

With regard to the East Sea issue, Quy stated this body of water is an important international shipping route, and that the maintenance of peace, security, stability, safety, and freedom of navigation in the sea is critical to regional and international peace and development.

All disputes must be settled by peaceful means on the basis of international law, including the UN Charter and the 1982 UNCLOS, with respect for diplomatic and legal processes, and without the use of force or threats to use force, he reaffirmed.

The diplomat voiced his concern over some recent incidents in the East Sea that have seriously violated Vietnam’s sovereign right and jurisdiction.

He called on the relevant parties to exercise self-restraint; not conduct militarisation or military activities complicating the situation, escalating disputes, and affecting safety and security of navigation and overflight in the East Sea which may threaten regional peace and stability; while fully implementing the Declaration on the Conduct of Parties in the East Sea and soon finalising a substantive and efficient Code of Conduct that matches international law, including the 1982 UNCLOS.

The 1982 UNCLOS, taking effect on November 16, 1994, has been ratified by 186 states and international organisations. Fourteen other states have signed but yet to ratified the convention./.

Source: Vietnam News Agency

The northern province of Bac Giang is applying measures to implement its investment promotion programme for 2021 with an aim to attract about 1.3 billion USD worth of investment in 2021, said Chairman of the provincial People’s Committee Le Anh Duong.

The provincial leader said that in the area of industry, the province will prioritise projects with a high proportion of high, new, green and energy-saving technology, using domestic materials and having commitment to technology transfer and labour training, and making great contributions to the province’s budget revenue.

The northern province has designed particular areas for projects in different fields, including industry, agriculture, tourism, services, urban areas, logistics, entertainment and health care, he said.

Accordingly, projects in electronic industry will be placed in industrial parks (IPs) and industrial clusters in Viet Yen, Tan Yen, Hiep Hoa, Yen Dung and Lang Giang districts as well as Bac Giang city. Priority will be given to projects producing computers, peripheral devices, semi-conductor accessories and accessories for electronic household appliances, mobile phones, and products for export and joining global value chains.

Meanwhile, garment projects will be located in planned IPs and industrial clusters, while electricity and manufacturing projects will be placed in new IPs and industrial clusters in Hiep Hoa and Yen Dung areas, and agro-forestry and food processing projects in Luc Ngan, Luc Nam and Hiep Hoa districts.

In the field of agriculture, Bac Giang will encourage investment in large-scale, green agricultural projects using high and environmentally-friendly technologies.

In trade-service sector, the province aims to lure investment in developing service-urban areas, thus forming a number of national tourist sites. Urban areas, trade centres, high-end hotels and entertainment centres, as well as projects in logistics, financial, insurance and health care sectors will be developed in Bac Giang city, while a number of resorts will be built in Lang Giang, Luc Ngan and Luc Nam districts.

Bac Giang will also encourage investors to develop tourism projects as well as trade centres, supermarkets, rural markets, retail and wholesale chains, resort and eco-tourism, sport and entertainment complexes and hi-end service-hotel areas in Bac Giang city.

In order to optimise advantages of each region, in 2021 and beyond, Bac Giang will focus on calling for investment projects in particular regions, with the core being areas along the National Highway 1A and Bac Giang city.

For foreign-invested projects, Bac Giang will strive to lure partners which have global brands with great financial capacity and long-term operation, and projects in supporting industries. Meanwhile, the locality will not encourage those without long-term investment commitment or depending on borrowed capital and using a large number of labourers and outdated technologies.

For domestically-invested projects, the province will call for investment from businesses in the list of 500 largest firms of Vietnam (VNR500), especially in areas of agriculture, trade and services.

Nguyen Cuong, Deputy Director of the provincial Department of Planning and Investment, said that in the first two months of 2021, Bac Giang attracted over 588 million USD in investment, 4.5 times higher than that in the same period last year.

Notably, the province granted investment licences to a number of large projects, including 270-million-USD Fukang Technology Factory invested by Foxconn Singapore PTE Ltd, and a 210 million-USD Ja Solar PV Vietnam project funded by Ja Solar Investment (Hong Kong) Limited.

Recently, the Prime Minister has agreed to build three industrial parks and expand three others in Bac Giang province.

In 2020, Bac Giang granted new licences and permitted additional investment to 215 projects with total registered investment of nearly 1.4 billion USD, up 7.3 percent year on year, rising to the ninth position among provinces and cities nationwide in FDI attraction./.

Source: Vietnam News Agency

The past 25 years is a course of history with breakthroughs in international relations of both Asia and Europe, and one of the most noteworthy achievements is the Asia – Europe Meeting (ASEM).

The remark was made by Ambassador Nguyen Nguyet Nga, Vice Chairwoman of the National Committee for Pacific Economic Cooperation and Senior Advisor to the Vietnamese Ministry of Foreign Affairs, while talking to the press on the occasion of ASEM’s 25th founding anniversary.

Regarding ASEM’s significance to Vietnam and the country’s contributions to this multilateral forum as a founding member, she said the establishment of ASEM was a turning point that changed the nature of Asia – Europe relations and the equality in international relations.

ASEM has helped the two continents enhance their voice and coordination, effectively deal with issues in international ties, and substantially contribute to the enhancement of mutual understanding, cooperation, and equality to achieve common targets and development.

This forum was founded not only to share and strengthen mutual understanding but also to take concrete actions, Nga noted.

She went on to say that via ASEM, Vietnam has made use of support to promote negotiations on its entry into the World Trade Organisation (WTO) and its integration into the global economy.

The ambassador affirmed the highly important role of ASEM and its members as the COVID-19 pandemic is remaining complicated in both continents.

Apart from the current cooperation priority of continuing responding to COVID-19, ASEM should also consider a longer-term issue, namely the post-pandemic comprehensive socio-economic recovery, she held.

ASEM is an important forum for Vietnam in terms of strategy, economy, politics, security, development, and society, Nga said, adding that the ASEM High-level Policy Dialogue on “ASEM at 25: Strengthening Asia-Europe Partnership in a Transforming World”, held on June 22, showed that the theme Vietnam chose for the event attracted the attention of other members.

The diplomat said the dialogue also demonstrated the clear-sightedness of the foreign policy stated in the resolution of the 13th National Party Congress.

What have been achieved over the past 25 years have shown that ASEM continues to play a crucial role during the implementation of Vietnam’s multilateral diplomacy, Nga added./.

Source: Vietnam News Agency