Day: August 3, 2021

President Nguyen Xuan Phuc has commended the textile and garment sector for achieving growth and caring for its workers amid the COVID-19 pandemic.

During a meeting with outstanding representatives of the sector in Hanoi on August 3, President Phuc asked the sector and the Vietnam National Textile and Garment Group (Vinatex) to fulfill the dual goal of fighting the pandemic and ensuring production growth, as well as flexibly choose priority goals for each period.

He suggested the sector step up digital transformation and business, resupply products to reap better production and business results.

Leaders of the industry proposed accelerating vaccinations to prevent production chain disruption, ensure enough workforce and conditions to process large-scale orders later this year.

Vinatex reported that the world’s garment market only expanded by about 2.3 percent in the first half of this year. In the first seven months of 2021, the group earned 23 billion USD from exports, up 21 percent year on year and 10 percent from 2019. Its profit also doubled from the same period last year.

All of its affiliate units still have enough orders for the third and fourth quarters to ensure profit. The sector is striving to post 18 percent growth this year.

Nearly 3 million workers are working for 13,000 garment and textile enterprises across the country.

Source: Vietnam News Agency

Despite a new outbreak of COVID-19 in Vietnam, the industrial property segment saw positive signs with new industrial zones established and key industrial projects beginning operations, according to a report by Savills Vietnam.

This year has witnessed new M&A deals and improvement in industrial land supply. The largest manufacturing projects in the first half of 2021 came from Hong Kong (China) and Singaporean investors that targeted northern Quang Ninh and Bac Giang provinces.

Vietnam’s FDI inflows rose by 3.8 percent year-on-year to 10.5 billion USD in the first seven months of 2021, with processing and manufacturing taking the lead, raking in 7.9 billion USD, or 47.2 percent of the total, data from the Ministry of Planning and Investment showed. The real estate came third with registered FDI of 1.16 billion USD.

“By region, the North received the majority of newly registered manufacturing investments with a substantial 1.97 billion USD, representing a 64 percent share,” said John Campbell, Manager of Savills Vietnam’s Industrial Services. The South followed with 728 million USD (23 percent), while the Central region attracted 395 million USD (13 percent).

In terms of provinces, Bac Giang received the highest amount of newly registered manufacturing capital with 589 million USD, closely followed by Quang Ninh with 569 million USD, and Bac Ninh with 222 million USD. Representing the South, Binh Duong came in fourth with 208 million USD.

For foreign investors, Hong Kong invested the highest amount of manufacturing FDI during the period with over 852 million USD, accounting for a 27 percent market share. Singapore was in the second place with 655 million USD (21 percent), followed by China with 549 million USD (18 percent), and the Republic of Korea with 330 million USD (11 percent).

John said the largest manufacturing projects in the first half of the year were from Jinko Solar and Fukang Technology from Hong Kong and Singapore investing 498 million USD and 270 million USD in Quang Ninh and Bac Giang, respectively.

Regarding new projects, Logos Property’s 81,000-sq.m project in the Vietnam-Singapore Industrial Park (VSIP) Bac Ninh 1 is expected to begin operation in the fourth quarter of 2021. New player in the market, KCN Vietnam Group JSC, acquired a significant 250-hectare land plot with an investment of 300 million USD, aiming to develop premium, sustainable factories and warehouses for rent in Vietnam with a national portfolio spanning across Bac Giang, Hai Phong, Hai Duong, Dong Nai and Long An.

He also noted that various new M&A deals have been inked this year. Boustead Projects Co. Ltd., for example, singed an options agreement for the proposed acquisition of 49 percent stake in KTG & Boustead Industrial Logistics JSC. If successful, the partnership will consist of 13 real estate seed assets amounting to 141 million USD in gross asset value covering about 840,000 sq.m of land and about 550,000 sq.m of gross leasable area, he added.

ESR Cayman Limited, the largest Asia-Pacific-focused logistics real estate platform, and BW Industrial Development JSC (BW), the leading logistics and industrial real estate developer and operator in Vietnam, have entered into a joint venture to develop 240,000 sq.m in My Phuoc 4 Industrial Park near Ho Chi Minh City. The partnership marks ESR’s entry into Vietnam, expanding the group’s Asia-Pacific footprint in the high-growth Southeast Asia region.

Source: Vietnam News Agency

The Vietnam People’s Army (VPA) team on August 3 departed for Russia to attend the International Army Games 2021, to be held later this month.

The 2021 Army Games will be launched on August 22 across 12 host countries and territories. A total of 277 teams from more than 40 countries and territories are expected to compete in 36 categories this year.

It is the fourth time Vietnam has participated in the competition. It will join various events, including Tank Biathlon, Safe Route, Sea Cup, True Friend, Sniper Frontier, Gunsmith Master, Masters of Artillery Fire, Clear Sky, Safe Environment, Military Medical Relay Race, and Field Kitchen.

It also marks the first time Vietnam has hosted sniper and rescue events of the Games. The Vietnam People’s Navy has also sent a fleet comprising frigates 015-Tran Hung Dao and 016-Quang Trung to take part in the Sea Cup event for the first time.

All of the team members have been fully vaccinated against COVID-19 and test negative with the virus.

Source: Vietnam News Agency

Vietnam officially assumes the role as coordinator for ASEAN-the Republic of Korea (RoK) relations for 2021-2024 at the ASEAN-RoK Foreign Ministers’ Meeting held via videoconference on August 3.

Speaking at the event, Vietnamese Foreign Minister Bui Thanh Son affirmed Vietnam will work with other countries to intensify and deepen the ASEAN-RoK strategic partnership in the new period.

Son appreciated the RoK’s increasingly important role in the region and welcomed its New Southern Policy aiming at deepening its partnership with ASEAN and Southeast Asia.

He suggested the RoK continue to supply vaccines against COVID-19 to ASEAN countries, support the bloc’s efforts to narrow the development gap and promote equitable and sustainable development in the ASEAN sub-regions, including the Mekong sub-region.

The Vietnamese minister thanked the RoK for supporting ASEAN’s principle stance on the East Sea, and proposed the nation cooperate in promoting dialogue and trust building, exercising restraint and respecting international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

He affirmed ASEAN’s commitment to fully and effectively implementing the Declaration on the Conduct of Parties in the East Sea (DOC) and maintaining efforts to achieve an effective and substantive Code of Conduct in the East Sea (COC) in accordance with international law and the UNCLOS. The official also asserted that ASEAN supports the RoK’s efforts to promote peace, stability and complete denuclearisation on the Korean Peninsula, stressing that ASEAN is ready to play a constructive role and create favourable conditions for dialogue among parties involved in ASEAN-led mechanisms.

Addressing the meeting, RoK Foreign Minister Chung Eui-yong affirmed that his country attaches importance to its strategic partnership with ASEAN, emphasising that ASEAN is the priority of its New Southern Policy, and the RoK backs the grouping’s central role in the regional architecture and the ASEAN Outlook on the Indo-Pacific (AOIP).

In addition to 1 million USD in support for ASEAN’s pandemic response, the RoK proposed organising the ASEAN-RoK Health Ministers’ Meeting in 2021 and strengthening medical dialogue between the two sides.

ASEAN countries appreciate the RoK’s timely and effective support, asking it to promote cooperation in the development, production and supply of COVID-19 vaccines.

Participants stressed the need to maintain a peaceful, secure, stable and favourable environment for pandemic prevention and control and post-pandemic recovery efforts.

The RoK backs ASEAN’s stance on the East Sea, and welcomes the bloc to promote its role in promoting cooperation, dialogue and trust building in the region, and building an efficient and effective COC, in accordance with international law and the UNCLOS.

At this meeting, the two sides agreed to issue a Declaration on strengthening ASEAN-RoK cooperation on AOIP at the 22nd ASEAN-RoK Summit later this year.

Source: Vietnam News Agency

Vietnamese Foreign Minister Bui Thanh Son has underlined four groups of solutions to boost post-pandemic economic recovery and development in the Mekong sub-region, including the prompt implementation of COVID-19 vaccination, stronger cooperation in high-quality vaccine technology transfer, production and distribution and the enhancement of public health system to respond to medical challenges.

Speaking at the second virtual Mekong-US Partnership Ministerial Meeting (MUSP MM) on August 3, Minister Son affirmed that Vietnam attaches great importance to fostering cooperation with partners for the sustainable development of the Mekong Sub-region.

He welcomed support by the MUSP to Mekong countries in coping with the COVID-19 pandemic as well as promoting sustainable development and building the ASEAN Community.

He underlined that COVID-19 and climate change are urgent matters posing great challenges to the sustainable and inclusive growth of the Mekong sub-region, requiring high determination and efforts of Mekong countries, ASEAN and partners.

Besides, it is necessary to enhance the response and adaption capacity of the Mekong River basin region to climate change impacts, and foster collaboration in management and sustainable use of transboundary water resources, he said. Son stressed the need to expand cooperation on infrastructure development, digital economy, clean and renewable energy, while encouraging three- and four-party cooperation models.

The Vietnamese FM also proposed a Mekong-US Senior Leadership Programme to strengthen dialogue and policy consultation serving sustainable development in the Mekong region.

Vietnam’s initiatives and proposals were welcomed by all participants and added into the meeting’s documents.

Co-chaired by Cambodian Foreign Minister Prak Sokhonn with US Secretary of State Antony Blinken, the second meeting saw foreign ministers from Laos, Myanmar, Thailand and Vietnam, and the ASEAN Secretary-General.

At the meeting, the ministers highly valued the US support to Mekong countries in the COVID-19 fight, and recognised MUSP achievements in cooperation areas.

On orientations for the next period, they agreed to give priority to the effective settlement of pandemic, ensuring timely, safe and effective vaccine access. At the same time, they concurred that the MUSP should make positive contributions to the reinforcement of an environment of peace, stability and prosperity in the region, while supporting the implementation of sustainable development goals (SDGs), the ASEAN Community Vision 2025, the ASEAN Comprehensive Recovery Framework, narrowing development gap, and strengthening connections with existing Mekong cooperation frameworks.

They adopted an Action Plan for the 2021-2023 period, with priority given to programmes and projects in the fields of economic connectivity, sustainable management of water resources and natural resources, environmental protection, non-traditional security matters, and human resources development.

Source: Vietnam News Agency

The Supreme People’s Procuracy has issued an indictment in a bribery case involving Phan Van Anh Vu and former deputy head of the Ministry of Public Security’s General Department of Intelligence Nguyen Duy Linh.

In the case, Linh was prosecuted for receiving bribes, while former Chairman of the Bac Nam 79 Construction JSC Phan Van Anh Vu was prosecuted for “giving bribes”, and Ho Huu Hoa, 37, residing in the central province of Nghe An, for “brokering bribes”.

According to the indictment, in mid-2017, Vu was under investigation for violations in a case of intentionally leaking State secrets, along with other illegal acts related to the purchase, sale and transfer of public houses and land in the central city of Da Nang and other localities.

Vu tried to access Linh through Hoa for help and information related to the cases. Later, Vu fled to Singapore after being informed by Linh that he could be detained and prosecuted.

Investigators found that Linh received a bribe worth up to 5 billion VND (217,000 USD) through Hoa from Vu.

Source: Vietnam News Agency

Deputy Defence Minister Sen. Lieut. Gen. Hoang Xuan Chien received Director of the US Agency for International Development (USAID) in Vietnam Ann Marie Yastishock in Hanoi on August 3.

Both sides pledged not to let the COVID-19 pandemic affect the progress of Vietnam – US cooperation in dealing with the consequences of bombs and mines, and toxic chemicals and dioxin left by the war.

Deputy Minister Chien appreciated the efforts made by USAID and US agencies to successfully implement joint projects in the field, highlighting examples such as the joint project on dioxin clean-up at Da Nang airport that was completed in 2018, the implementation of the first phase of another detoxification scheme at Bien Hoa airport from 2019-2025, and the building of documents for a project on improving life quality for Vietnamese living with disabilities in eight provinces hard hit by Agent Orange (AO) during the war, namely Quang Tri, Thua Thien-Hue, Quang Nam, Binh Dinh, Kon Tum, Binh Phuoc, Dong Nai, Tay Ninh.

Host and guest pledged to pool resources and accelerate the progress of the above projects. They also vowed to continue effectively implementing the nine-point MoU on cooperation in addressing bomb and mine consequences, as well as communications activities on Vietnam-US joint work in settling consequences of bomb and mine and toxic chemicals/dioxin.

Source: Vietnam News Agency

The General Department of Taxation plans to debut its e-tax application for mobile devices, Etax-mobile, in August to facilitate taxpayers particularly amid the complicated developments of COVID-19.

The country has so far seen 99 percent of enterprises using electronic tax services. The proportion is much lower among individuals due to inconvenient support software, hence the department’s development of Etax-mobile

In the immediate future, Etax-mobile will be provided for individual use on iOS and Android platforms.

In addition to supporting functions provided on the e-tax system via the web platform, the application will provide enhanced user experience services, additional search functions, links to banks’ payment applications.

The department said that, with 60 million individuals having tax codes, the use of Etax-mobile will help taxpayers easily access related administrative procedures and communicate with tax authorities. They can transparently and conveniently fulfill their tax obligations anywhere.

Source: Vietnam News Agency