Day: December 17, 2021

The Times of India on December 16 ran an article saying that Vietnamese National Assembly Chairman Vuong Dinh Hue’s ongoing visit brings an ambitious agenda covering various aspects, not only bilateral ties but also regional and global issues.

The visit takes place at a time when Vietnam and India are celebrating the fifth anniversary of comprehensive strategic partnership and preparing for the 50th anniversary of bilateral diplomatic ties next year.

In an interview granted to the Indian press, Hue said his visit aims for three goals, including further deepening bilateral comprehensive strategic partnership and ties between the two legislatures in particular, affording both sides a chance to learn more about respective socio-economic development and foreign policies, and exchanging viewpoints on global issues of shared concern and seeking solutions to them, thus contributing to peace, security, stability and development in the region and the world.

The article said the trip marks a new milestone in bilateral ties, not only in national defence but also in economy and maritime security.

It added that Vietnam’s economic growth during the pandemic is a miracle and the country is emerging as an important production hub. Vietnam – India strategic ties hold great potential in ensuring peace, security and stability in the Indo-Pacific.

Source: Vietnam News Agency

Vietnam’s footwear exports are likely to grow 5 percent this year although COVID-19-induced supply chain disruptions caused decreases in August and September, according to Phan Thi Thanh Xuan, Secretary-General of the Vietnam Leather, Footwear and Handbag Association (Lefaso).

Weakening shipments and southern industrial parks devastatingly stricken by COVID-19 in August and September have troubled industry players who were worried that the sector was not likely to achieve its 18-billion-USD export goal in 2021.

However, just two months after southern cities and provinces reopened its economy with flexible measures to sustain production and keep the virus at bay, the billions-dollar industry has seen unexpected breakthroughs, said Xuan, adding that exports will rise 5 percent compare to the previous year.

Vietnam’s accession to multiple free trade agreements (FTAs), particularly the Comprehensive and Progressive for Trans-Pacific Partnership (CPTPP), have channeled large FDI from major corporations from the Republic of Korea, China and others into Vietnam, constantly heightening the domestic production capacity.

Data from the World Footwear Yearbook shows that Vietnam exported 1.23 billion pairs of footwear in 2020, a 4.4-fold increase against 2011. It also marked the first time the country’s global market share had exceeded 10 percent.

Between 2016 – 2020, Vietnam’s footwear exports picked up 6.4 percent annually on average, with its revenue edging up from 10.3 percent in 2016 to 13.6 percent of the world’s total in 2020.

Various world-famous brands, including Nike, Adidas, Reebok, and Puma, have selected Vietnam as a destination for outsourcing and setting production bases.

Deputy General Director of Golden Victory Co., Ltd., Le Thi Anh Dao said Vietnamese manufacturers has quite clear competitive edges over regional rivals in securing orders from brands. “Previously, many brands such as Nike have mainly placed outsourcing orders in China but now they are more likely to turn to Vietnam as global consumers are increasingly in favour of “Made-in-Vietnam” products,” Dao said.

According to Lefaso, Vietnam became the world’s biggest exporter of textile-capped shoes in 2020, accounting for 26.3 percent of total global shipments which has been on the rise this year.

Source: Vietnam News Agency

President Nguyen Xuan Phuc will pay a two-day state-level visit to Cambodia this month at the invitation of Cambodian King Norodom Sihamoni.

The trip will take place on December 21 and 22.

Trade between Vietnam and Cambodia reached 2.69 billion USD in the first quarter of 2021, up 103.68 percent annually. Last year, the figure tripled from 2010.

Source: Vietnam News Agency

About 527.1 trillion VND (over 22.9 billion USD) in foreign official development assistance (ODA) and concessional loans will be allocated during the 2011 – 2025 period.

This is part of a plan on orientations for attracting, managing, and using ODA and concessional loans from foreign sponsors during the five years. The plan was recently approved by Permanent Deputy Prime Minister Pham Binh Minh.

Accordingly, non-refundable ODA capital is prioritised for implementing socio-economic infrastructure development programmes and projects; enhancing capacity; assisting policy and institutional building and reform; preventing, controlling and mitigating natural disaster risks, and adapting to climate change; ensuring social welfare; preparing for investment projects or co-funding projects that use foreign concessional loans.

ODA capital will be prioritised for programmes and projects on health care, education, vocational training, climate change adaptation, environmental protection, and building essential economic infrastructure facilities unable to directly recover capital.

Besides, the plan gives priority to spending foreign ODA capital and concessional loans on infrastructure improvement projects to help disadvantaged regions and localities develop their economy, and in regions and localities facing difficulties in mobilising domestic funding; as well as on projects dealing with pressing issues during the rapid urbanisation.

Foreign concessional loans will also prioritised for projects boosting connectivity among regions and provinces in the Northwestern, Central Highlands, and Mekong Delta regions so that they can develop faster, according to the plan.

Source: Vietnam News Agency

Vietnamese National Assembly Chairman Vuong Dinh Hue and Chairman of the Lok Sabha (House of Representatives) of India Om Birla witnessed a signing ceremony of a memorandum of understanding between the NA of Vietnam and the Lok Sabha on cooperation in the field of library and television held in New Delhi on December 17.

Accordingly, the Office of the National Assembly of Vietnam and the Office of the Lok Sabha of India will make efforts to strengthen collaboration in exchanging information and improving access to the collection and database of digital documents of two sides’ libraries.

They will cooperate in sharing experience in digitising resources and supplementing digital resources for the library for mutual benefits. The two sides will use an information exchange system on library activities and share digital documents and non-confidential parliamentary documents in accordance with the provisions of each side.

Efforts will be made by the two sides to implement a mechanism to exchange broadcasts and television programmes related to the parliarment activities in the legislative process, monitoring, and accountability, as well as other common issues. Products, information and documents within the cooperation framework are guaranteed in terms of intellectual property rights by both sides in line with laws of each side international treaties to which the two countries are members. The transfer of these products to a third party is subject to the consent of the other party.

The two sides will assign the library of NA and NA Television of Vietnam to coordinate with the library and the Indian Parliamentary Television in the implementation of the contents of the MoU.

Source: Vietnam News Agency

Chairman of the Vietnamese National Assembly (NA) Vuong Dinh Hue met with Indian Vice President and Chairman of the Council of States Venkaiah Naidu in New Delhi on December 17.

Welcoming the top Vietnamese legislator, who is paying an official visit to India, Naidu thanked the Vietnamese NA, Government, and people for their timely assistance to the South Asian country in the most trying times of the COVID-19 fight.

He also highly valued Vietnam’s growing role and position in the region and the world, adding that the two countries have coordinated with each other well while serving as non-permanent members of the United Nations Security Council.

Hue said Vietnam always attaches importance to its comprehensive strategic partnership with India. He also congratulated India on having basically put the pandemic under control.

At the meeting, the two leaders spoke highly of the cooperation between the legislative bodies of the two countries.

They agreed to maintain all-level mutual visits between the Vietnamese and Indian states, governments, parliaments, parties, localities, and people. They also concurred in organising meaningful and practical activities to mark the 50th founding anniversary of diplomatic ties in 2022.

Vietnam always treasures partnership with India: NA Chairman hinh anh 2

Vietnamese and Indian officials at the meeting in New Delhi on December 17 (Photo: VNA)

Vietnam and India will step up appropriate activities to support their businesses to boost exporting commodities they have strength in to each other’s markets.

Hue welcomed Indian enterprises increasing investment in different fields in Vietnam such as processing, manufacturing, auto supporting industry, information and communication technology, renewable energy, hi-tech agriculture, and innovation. He also suggested the two countries strengthen ties in the fight against terrorism and trans-national crime.

The two leaders said they will continue enhancing cooperation in culture, heritage preservation, people-to-people exchange, and tourism.

Besides, Vietnam and India will bolster cooperation and mutual support when running for seats in international organisations, the two leaders noted, applauding the countries’ mutual backing at regional and international forums.

Both host and guest underlined the importance of maintaining peace, stability, security, safety, and freedom of navigation and overflight in the East Sea – an arterial shipping route of the world. They also voiced support for promoting dialogue, trust building, self-restraint, and peaceful settlement of disputes on the basis of international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS).

Source: Vietnam News Agency

National Assembly Chairman Vuong Dinh Hue held talks with Speaker of the Lok Sabha (House of Representatives) of India Om Birla on December 16 during his official visit to India.

At the talks, the Indian lower house leader hailed the significance of NA Chairman Hue’s visit as the two countries mark the 50th anniversary of their friendship and five years of their comprehensive strategic partnership.

He said the visit provides an opportunity for high-ranking leaders of the two countries to discuss measures to further deepen their multi-faceted relations.

He affirmed that Vietnam has a leading important role in India’s Act East Policy, and is a key partner in the Indo-Pacific vision of India.

The Vietnamese NA Chairman affirmed that Vietnam always considers India a reliable close friend, and expressed his joy at the strong development of the five-year comprehensive strategic partnership in all fields, particularly politics-diplomacy, defence-security, trade, culture and people-to-people exchange.

He proposed that the two countries continue to work closely together to implement the plan of actions for 2021-2023, thus bringing practical benefits to the Governments and people of both countries.

Hue took the occasion to thank India for its valuable support for Vietnam in the COVID-19 fight, particularly the provision of medical supplies during the fourth resurgence of the pandemic in Vietnam. He asked India to continue cooperating with Vietnam in transferring vaccine production technology.

The NA Chairman welcomed Indian enterprises’ investment in Vietnam in fields of India’s strength such as manufacturing-processing, automobile support industry, information and communication technology, and energy and renewable energy.

He suggested that the law-making bodies of both countries bring into full play their role in promoting bilateral ties, and enhance cooperation and experience sharing in building institutions and fine-tuning the legal system. He informed the host that the 15th National Assembly of Vietnam has established a Vietnam-India Friendship Parliamentarians’ Group.

The two legislative leaders agreed to coordinate to well organize practical and meaningful activities to mark the 50th anniversary of the two countries’ diplomatic relationship in 2022.

They assessed that defence-security cooperation continues to be among important pillars of the bilateral comprehensive strategic partnership, which reflects the high level of trust between the two countries.

They showed joy at the rapid growth of bilateral trade at nearly 20 percent a year over the past five years to top 12 billion USD this year, toward the goal of 15 billion USD a year. They agreed to expand cooperation in such fields as energy, science-technology, sustainable development, green economy and climate change response.

The two sides shared the need to early resume direct air services between the two countries and recognize each other’s vaccine passports in order to enhance exchanges between their people. They discussed measures to strengthen ties in culture, tourism, people to people exchange, natural resources and the environment, justice and finance.

The two legislative leaders showed delight at the close coordination and mutual support between the two countries at regional and international forums, UN agencies, the Non-aligned Movement and the UN Security Council, especially in 2021 when both countries are non-permanent members of the UN Security Council.

They affirmed the importance of maintaining peace, stability, security, and maritime and aviation safety and freedom in the East Sea, while reiterating support for promoting dialogue, trust building, self-restraint, and the settlement of disputes by peaceful means on the basis of international law, including the 1982 UN Convention on the Law of the Sea.

They also proposed increasing cooperative activities between the two parliaments in both bilateral framework and multilateral forums.

NA Chairman Hue invited the Speaker of the Lok Sabha of India to visit Vietnam at a convenient time, and the latter accepted the invitation with pleasure.

Earlier the same day, NA Chairman Hue and the Vietnamese NA delegation visited the Parliament House and the Ho Chi Minh Marg in New Delhi. They also laid flowers in tribute to Mahatma Gandhi at the Raj Ghat memorial.

Source: Vietnam News Agency

Foreign-invested enterprises have shown optimism about the recovery of Vietnam’s economic and investment climate during a conference on supporting foreign investors to adapt to new normal business situation that took place in Ho Chi Minh City on December 17.

Vu Tien Loc, President of the Vietnam International Arbitration Centre (VIAC), said that in 2021, FDI firms have been greatly affected by COVID-19 pandemic. As of November 2021, total FDI poured into Vietnam reached 26.46 billion USD. However, only 15.5 billion USD had been disbursed, down 4.1 percent year on year, he noted.

Thargbodee Serng Adichaiwit, Chairman of the Thai Chamber of Commerce in Vietnam, said that from October this year when HCM City reopened and the Government of Vietnam switched its anti-pandemic strategy to flexible adaption, Thai firms have recovered their production. He expressed his belief that with the strategy, Vietnam will secure fast recovery and attract more FDI.

He said that many Thai enterprises are interested in investing in Vietnam to exploit the huge consumer market and the strong commitments by the Government and localities of Vietnam in improving the business environment.

Cao Thi Phi Van, Vice Director of the Investment and Trade Promotion Center (ITPC) of Ho Chi Minh City, said that this year is an extremely difficult year for the city and the business community as well. However, FDI flow into the city has been at highest level among localities nationwide with nearly 49 billion USD, accounting for 12.1 percent of total FDI poured into Vietnam, she said, adding that the city has still played the role of an economic motivation of the country by contributing over 22 percent to the national GDP and more than 26 percent to the State budget.

Lauding Vietnam’s adaptation capacity, Catherine Tran, Director of Leonglee International Ltd, said that currently, many businesses have already recovered and become well prepared for COVID-19.

She held that along with its negative impacts, COVID-19 has prompted businesses to improve their capacity in designing their long-term business strategies and become ready for every change to rise up.

Source: Vietnam News Agency