Day: February 21, 2022

Businesses from the Republic of Korea (RoK) visited the Mekong Delta province of An Giang on February 21 to seek partnership opportunities with local firms.

At a working session with the firms and representatives from the RoK-Vietnam Economic Support Committee, local leaders introduced the potential of the locality, especially in agro-fisheries processing, along with its major products.

Nguyen Thanh Huan, Deputy Director of the provincial Department of Industry and Trade said that each year, An Giang produces about 4 million tonnes of rice, more than 500,000 tonnes of aquatic products and over 700,000 tonnes of vegetables, as well as about 180,000 tonnes of fruit, which meet the EU and US markets’ standards.

Huan noted that the trade partnership between An Giang and RoK firms has yet to meet the market demand. He expressed his hope to receive more information from the RoK-Vietnam Economic Support Committee on the RoK market to provide suitable products.

Tran Anh Thu, Vice Chairman of the provincial People’s Committee, said that despite COVID-19, An Giang has created optimal conditions for RoK firms to operate normally.

He said that An Giang hopes to sign a cooperation agreement with RoK’s Marketbridge Group to become a global distribution centre.

An Giang has prepared clean land fund for RoK investors, while prioritising RoK products in its distribution system.

For his part, Marketbridge CEO Shin Jaedong said that he hopes to receive support from local authorities to set up a company in An Giang and open supermarkets in the locality to provide local and RoK products to consumers. The firm can support An Giang in exporting its products to the RoK and other choosy markets in the world.

Chairman of the RoK-Vietnam Economic Support Committee Kwon Jae Haeng said that the committee is willing to assist An Giang in completing necessary procedures for certificates to export products to the RoK.

At the working session, RoK firms also highlighted business sectors that they are interested in in An Giang.

Source: Vietnam News Agency

The PetroVietnam Exploration Production Corporation (PVEP) plans to produce an estimated 0.23 million tonnes of oil equivalent, including 0.18 million tonnes of oil and condensate and 54 million cu.m of gas, this month.

In January, the State-owned corporation generated 0.31 million tonnes of oil equivalent, surpassing the monthly goal by 8 percent. The volume included 0.21 million tonnes of oil and condensate and 98 million cu.m of gas, 3 percent and 22 percent, respectively, higher than the month’s plan.

The company attributed last month’s success to the higher performance of a number of oil fields, such as Su Tu (Lion), Te Giac Trang (White Rhino), Dai Hung (Big Bear), CNV, RD-PD and Bir Seba.

Its January revenue exceeded 3.58 trillion VND (156.81 million USD), 55 percent higher than the plan and post-tax profit reached over 1.12 trillion VND. The company contributed nearly 1.1 trillion VND to the State budget.

Its total output is expected to reach 3.18 million tonnes of oil equivalent this year.

Source: Vietnam News Agency

Various recommendations have been put forward at the Vietnam Business Forum (VBF) 2022 to revive and sustainably develop the economy in the face of adverse impacts from the COVID-19.

Themed “Restoring the economy and developing supply chain in the new normal,” the VBF was co-hosted by the Vietnam Chamber of Commerce and Industry (VCCI), Ministry of Planning and Investment, World Bank (WB), and International Finance Corporation (IFC) in Hanoi on February 21.

In his remarks at the event, VCCI Chairman Pham Tan Cong cited results of a survey that showed the COVID-19 pandemic had taken a toll on up to 93.9 percent of enterprises in Vietnam last year. Firms in all sectors have experienced difficulties caused by COVID-19, most notably challenges in accessing customers, cash flow imbalance, labour shortage, and supply chain disruption, according to the VCCI survey.

The number of newly-established enterprises and those re-entering the market was down 10.7 percent compared to the previous year to nearly 160,000 in 2021, data from the General Statistics Office shows. Meanwhile, up to 119,800 firms were dissolved, up 17.8 percent year-on-year. 2022 is likely to be another challenging year for the economy. To fulfil this year’s goals and successfully implement the Government’s tasks and solutions, the business communities came up with ten recommendations. They suggest the Government, ministries and local administrations to continue facilitating access to information relating to supporting policies and regulations for enterprises and providing them with help to gain easier access to funding to recover production.

They also urge for simplified exit and entry rules to facilitate travel of workers and experts and effective implementation of supporting programmes offering training for people left jobless by COVID-19.

They want to receive support to accelerate application of information technology in accessing public administrative services and make full use of preferential tariffs from free trade agreements.

The business community show interest in developing digital economy, deemed as the growth engine of the economy; and call on ministries and local administrations to boost the development of the domestic market, strengthen the linkages between business and industry associations to reduce the independence on imported products, and accelerate public administration reforms.

Source: Vietnam News Agency

The standing board of the Vietnam Buddhist Sangha (VBS) executive committee in the central province of Khanh Hoa on February 21 announced decisions to appoint three monks as heads of pagodas in Truong Sa island district.

They consist of Venerables Thich Nhuan Hieu, Thich Tam Thanh, and Thich Dinh Thong, who will respectively oversee Da Tay A pagoda, Sinh Ton pagoda, and Son Ca pagoda for two years, starting from their date of departure.

As heard at the announcement ceremony, the standing committee considers the appointment of the monks as heads of the pagodas in the district as an important action in the development of the Dharma in the border and maritime areas. A Buddhist monk, first of all a Vietnamese citizen, when starting to receive missions in remote islands, realises that each pagoda in Truong Sa island district is not only a spiritual place but also a landmark marking the sacred sovereignty of the Fatherland.

The island district now has nine pagodas, whose head monks are appointed alternately by the provincial VBS executive board based on their voluntariness.

Source: Vietnam News Agency

Prime Minister Pham Minh Chinh attended the high-level session of the annual Vietnam Business Forum (VBF) in Hanoi on February 21 under the theme “Restoring the economy and Developing supply chain in the new normal”.

Addressing the event, Prime Minister Pham Minh Chinh said that after 35 years of implementing its “Doi moi” (renewal) process, Vietnam has obtained historical achievements.

He highlighted that in 2021, despite unprecedented challenges and difficulties, Vietnam gained encouraging achievements with the solidarity and unanimity of the people and business community as well as support from international friends and partners.

Last year, the country’s import-export revenue surged 22.6 percent year on year to a record of nearly 670 billion USD, bringing Vietnam to the top 20 countries with largest trade scale in the world, he noted, adding that the country enjoyed a 9.2-percent rise in foreign direct investment attraction.

Vietnam has become one of the six countries in the world with highest COVID-19 vaccination coverage, he said, adding the country has switched to safe, flexible adaptation to and effective control of the pandemic since October 2021.

The Party, State and Government of Vietnam highly values the contributions of the business community and share the difficulties that they are facing, especially amid COVID-19, he stressed.

He underlined that with the motto of placing businesses in the centre, the Vietnamese Government will continue to implement three strategic breakthroughs – completing institution, developing human resources, and building synchronised and modern infrastructure system.

Vietnam is seeing an opportunity to rise strongly on the foundation of the national synergy, position and prestige after 35 years of Doi moi, he said, stressing that it is the time for the country to challenge the mettle, creativity and adaptation capacity of both the Government and business community in the spirit of mutual support, harmonious benefit and shared risk.

Along with effectively implementing the socio-economic recovery and development programme in parallel with COVID-19 prevention and control, Vietnam will continue to work to keep macro-economy stable, improving the business and investment environment, speeding up digital transformation, boosting the growth of digital economy, digital society, green economy and circular economy, and mitigating climate changes, he said.

The PM stated that Vietnam will roll out measures to recover the supply chains as well as business and production activities, while speeding up administrative reform, and developing different factors serving production such as capital, land, resources and science-technology markets.

The Vietnamese Government will also work to create an equal environment for all economic sectors, he underscored, saying that the country encourages private and foreign investments in the fields of high technology, support industries, smart agriculture, environmental protection, renewable energy, infrastructure building and social welfare.

Vietnam will make full use of advantages from free trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), EU-Vietnam Free Trade Agreement (EVFTA), and Regional Comprehensive Economic Partnership (RCEP) to expand markets and diversify business partnership, while strictly handling smuggling and trade fraud, he said.

At the event, PM Chinh asked ministries, sectors and relevant agencies to collect ideas from the business community and respond to their feedback.

He expressed his hope that the business community will continue to join hands with the Vietnamese Government and people to effectively implement socio-economic targets for 2022.

At the event, representatives from business associations gave ideas on how to improve the domestic production capacity, expand the supporting industry, develop inter-sectoral industrial clusters and value chains, and increase linkages between foreign-invested enterprises and their domestic peers.

They highlighted the role of financial resources to the development of industrial clusters and supply chains, as well as the significance of sustainable energy and digital economy. They also gave proposals on what Vietnam should do to help the business community to grow fast and sustainably.

Established in 1997, VBF is a regular and high-level channel of communication between the business community and Vietnamese Government./

Source: Vietnam News Agency

Chairman of the National Assembly Vuong Dinh Hue has urged for greater efforts to further reform and improve the operational effectiveness of People’s Councils.

Hue made the suggestion at a meeting held on February 21 to review the performances of all-level People’s Councils in the North of Vietnam in 2021 and discussed plans for 2022.

The plan on further reforming and improving the operational effectiveness of People’s Councils must be constantly reviewed and perfected in order to ensure the full observation of the Constitution and regulations; better conduct the appointment of key personnel; supervise the implementation of resolutions issued by provincial People’s Councils and the performance of permanent members of the People’s Councils, People’s Committees, People’s Courts, and People’s Procuracies at the same level; and agencies of the People’s Councils.

The People’s Councils were tasked to promptly implement and supervise the implementation of the State’s policies as well as the NA and Government’s resolutions on socio-economic development, finance and State budget, public investment disbursement, and national target programmes, particularly those on fighting COVID-19 and promoting socio-economic recovery from 2022 – 2023.

Hue emphasised the need to continue accelerating the use of information technology in each People’s Councils, for examples, increasing paperless meetings, virtual voting and image-based supervision.

He also called on the People’s Councils to enhance exchange and experience sharing with each other and with the Council for Ethnic Affairs and other committees of the NA.

Source: Vietnam News Agency

An art performance was staged on February 20 in honour of the medical workers who are frontline forces in the fight against COVID-19 pandemic.

The event witnessed a joint wedding of 20 couples that are doctors and medical staff of Military Hospital 175 who put aside their personal work, even postponed their wedding for months, to join the forces in containing and roll back the spread of the COVID-19 pandemic.

It depicted the journey of medical staff across the country who have been present in the most pandemic-affected and high-risk areas, and in COVID-19 treatment hospitals in Vietnam, and those who joined UN peacekeeping missions in South Sudan.

The items performed in the programme expressed the belief and optimism of the ultimate victory over the COVID-19 pandemic, and the hope for a peaceful and prosperous life for all people.

Source: Vietnam News Agency