Day: April 20, 2022

Speaker of the Indian Lok Sabha (lower house) Om Birla on April 20 visited Ha Long Bay, a world natural heritage site in northern Quang Ninh province, as part of his official trip to Vietnam.

Welcoming the Indian delegation, Secretary of the provincial Party Committee Nguyen Xuan Ky provided a brief on the province’s socio-economic development and expressed his hope that the visit would strengthen India’s sound relations with Vietnam, including Quang Ninh, especially in tourism.

Ky expected that Quang Ninh will continue to be the venue for the International Day of Yoga held by the Indian Embassy in Vietnam, helping attract tourists, including those from India, to the province.

Birla appreciated the warm welcome of local leaders, noting the beauty of Ha Long Bay had left a strong impression on him.

Wishing Quang Ninh more successes on its development path, he voiced his belief that through his official visit, India and Vietnam, including the province, would step up people-to-people and cultural exchanges, as well as cooperation in areas such as information technology, aviation and tourism.

Ha Long Bay, recognised as a world natural heritage site by UNESCO, boasts thousands of magnificent islands and beautiful landscapes. It is a popular destination among both Vietnamese and international visitors.

Source: Vietnam News Agency

Vietravel Airlines will open a new route linking Hanoi and the south central province of Binh Dinh’s Quy Nhon city, and reopen the route connecting the capital city and central Da Nang city from April 22 to meet travel demand on the Reunification Day and May Day holidays.

According to the carrier, occupancy on its flights from Ho Chi Minh City and Hanoi to domestic tourist destinations such as Quy Nhon, Da Nang, and Phu Quoc reached between 80 and 100 percent from April 27 to May 3.

To prepare for the 2022 summer travel season, Vietravel Airlines is offering promotions such as “Excellent Tuesday – no worries about price” for only 8,000 VND per flight, excluding taxes and fees. The programme is applicable to domestic flights. In addition, the airline is also helping passengers during the pandemic with offers to change the names on tickets free of charge.

Vietravel Airlines’ on-time performance (OTP) reached 97 percent in the first quarter of this year, the highest rate among domestic carriers. It is the only carrier that did not cancel flights in the period.

Vu Duc Bien, General Director of Vietravel Airlines, said that maintaining the highest punctuality rate in the industry in the first quarter of 2022 was a great effort, adding that it will contribute to bringing the best experiences to passengers.

In addition to opening more domestic routes, Vietravel Airlines is also working with international aviation authorities to expand its flight network to Northeast and Southeast Asian markets from the second quarter of 2022.

The airline has completed negotiations to increase its fleet to six this year in accordance with its approved roadmap.

Source: Vietnam News Agency

While the Russia-Ukraine conflict has left negative impacts related to transport, inflation and international payments on import and export activities, it could also create opportunities for businesses which adopted timely adaptation measures, experts have said.

Speaking at a workshop, entitled “Adaptive solutions for import and export activities in the context of the Russia-Ukraine crisis” organised by the Vietnam International Arbitration Centre (VIAC) in collaboration with the Ho Chi Minh City International Integration Support Centre (CIIS) on April 20, VIAC Chairman Vu Tien Loc said the Russia-Ukraine conflict are considered as one of the hot spots causing direct impacts on the economies of many countries.

As Vietnam’s important trading partners in the Eurasian region, import and export activities between Vietnam and Russia as well as Ukraine have also experienced significant changes. Businesses have not only faced disruption in the supply of raw materials and fuels but also affected the delivery of goods and increase transportation costs, he said.

Pham Binh An, Deputy Director of the HCM City Institute for Development Studies, said Vietnam’s two-way trade with Russia and Ukraine reached about 7.6 billion USD last year, accounting for 1.2 percent of the country’s total import and export turnover.

The Russia-Ukraine conflict has thus both directly and indirectly affected Vietnam’s economy, he said.

Vietnamese enterprises have not only had difficulties in the direct import of some products from Russia and interruption in exporting products to Russia and Ukraine, they also have to face competition in purchasing raw materials from other markets, An said.

The disruption of the supply chain in the Russia and Ukraine markets has greatly affected seafood enterprises in Vietnam as well as other countries when most of the raw materials are imported from Russia, Truong Dinh Hoe, General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP) said, adding that orders have been continuously delayed and canceled, resulting in congestion and losses for bussinesses.

To deal with the above-mentioned problems, Loc suggested that businesses should have long-term strategies to cope with the fluctuations in the market. It was necessary for them to be equipped with solutions on risk management and handling disputes to be more resilient and resume business operations quickly in the near future, he said.

An agreed, saying that enterprises should actively diversify markets and supply as well as payment methods. He added that it is a must for them to study the incentives that free trade agreements, which have become effective, brought about to reduce costs and improve competitiveness.

Meanwhile, Hoe said, in response to the Russia – Ukraine conflict, seafood enterprises have adjusted business activities in a timely manner. Accordingly, enterprises have proactively carried out quick payment measures through channels from foreign banks and private banks.

Seafood enterprises are actively looking for opportunities to increase the market share of pangasius as there is a shortage of white fish supply in Europe, he said.

Source: Vietnam News Agency

Experts urged enterprises to make preparations to be able to take opportunities arising from the Regional Comprehensive Economic Partnership (RCEP).

Nguyen Anh Duong from the Central Institute for Economic Management (CIEM) spoke at a conference about the world’s largest trade deal on April 19, saying that enterprises needed a strategy to improve their export capacity not only in terms of price but also in quality to meet new requirements in RCEP markets.

“Most Vietnamese enterprises do not have a habit of making preparations for future policy changes,” Duong said, adding only when the regulations were in force, would enterprises find a way to meet them.

“The story is not simply producing and selling what we have but to develop business plans based on the understanding of the market, regulations and tastes,” he said.

Duong said the Government should also increase support for enterprises in some aspects that they are unable to do on their own.

For example, in 2012-2013, Vietnam was among the first economies to receive fruit preservation technology transfer from Japan, which paved the way for Vietnamese fruits to enter the Japanese market. It was clear that the Government-level exchange to establish trust between the two sides was important to achieve this success, he added.

RCEP was not only a trade and investment agreement but also a bridge to link Vietnam with the regional production network and supply chain, Duong said.

RCEP opened a new chapter in the cooperation of Vietnam with the region, which would help increase exports, and increase revenue for the economy with the reduction of tariff and non-tariff barriers to facilitate trade.

In the context that Asia was recovering quite quickly after the COVID-19 pandemic, RCEP would help Vietnam to reduce the risk of “getting out of tune” with the economic recovery process.

Nguyen Thi Thu Trang, Director of the WTO and Integration Centre under the Vietnam Chamber of Commerce and Industry (VCCI), said that in the long-term, RCEP would establish a new supply chain in the region and Vietnam would become an important link, which would bring large opportunities for export expansion.

In addition, when the supply chain was established, there would be less risk for the impositions of trade defence measures, she said.

RCEP, a mega trade deal among 15 Asia-Pacific countries, took effect at the beginning of this year and was paving the way for the creation of the world’s largest free trade area with a market altogether accounting for 30 percent of the world’s population and nearly 30 percent of global GDP.

Currently, 64 percent of tariff lines have been removed, which would be increased to at least 90 percent in the next 15-20 years.

The long roadmap for tariff liberation would give time for enterprises to make preparations and take opportunities arising from the trade deal, Trang said.

A recent report by the World Bank revealed that Vietnam was forecast to enjoy the highest trade and income gains among members of RCEP.

The average trade-weighted tariff imposed by Vietnam declined from 0.8 percent to 0.2 percent while the tariffs faced by the country were reduced from 0.6 percent to 0.1 percent between 2000 and 2035.

In the most optimistic scenario, where all benefits were applied, Vietnam had the highest gains of all RCEP member countries, newswire Vietnam Briefing cited the report as saying. Vietnam’s income levels increased by 4.9 percent relative to the baseline, higher than other countries, where the income level increased by 2.5 percent.

Trade also increased the most in this scenario, with exports expanding by 11.4 percent and imports by 9.2 percent, relative to the baseline.

All RCEP member countries would see increases in exports and imports. Vietnam’s exports were expected to expand by 11.4 percent and imports by 9.2 percent.

According to the WB’s report, RCEP also provides an opportunity to promote growth and support recovery after the COVID-19 pandemic.

The WB report said that the simplification of procedures such as customs and rules of origin would help reduce bureaucracy, allowing more small and medium enterprises (SMEs) to participate. These enterprises account for 98 percent of the total number of enterprises in Vietnam, contributing 40 percent of GDP. Thus, RCEP would offer a chance for Vietnamese SMEs to enhance the value chain.

Vietnam’s economic growth will come from a deeper and more inclusive commitment through RCEP intra-regional trade, common rules of origin and greater openness to goods and services in accessing markets, especially the Chinese market, it said.

Source: Vietnam News Agency

Photographer Bach Ngoc Tu claimed a number of prizes at Spring Clicks Circuit 2022, an international photography contest held in Montenegro.

Bach Ngoc Tu, a Vietnamese photographer born in northern Quang Ninh province, grabbed two golds, one silver, one bronze, two honorable mentions, as well as two certificates of exhibitions on nature and people, the Voice of Vietnam (VOV) reported.

The Spring Clicks Circuit was held this year to honour artistic works in four categories, namely nature, open colour, open monochrome, and people. It attracted a range of professional and amateur photographers from 65 countries from across the world.

The contest is held under the sponsorship of world photograph organisations, including FIAP, PSA, FSM, GRADAC PGI, VICTORY P.W, FK OHRID, FSS, and FKK CACAK.

The awards ceremony is scheduled to take place on May 10 in Montenegro.

Source: Vietnam News Agency

About half the population of Thailand has now acquired immunity against COVID-19 but this remains well short of the government’s 80 percent target, according to the country’s Department of Disease Control (DoDC).

Dr Chakkarat Pitayowonganon, director of the DoDC’s epidemiology division, said around 10 percent of Thailand’s 67.5-million people are estimated to have contracted the virus so far. When combined with those who have received two doses of vaccine plus a booster shot, those with immunity against the novel coronavirus should account for about 50 percent of the population.

He said boosters must be prioritised, especially for vulnerable groups such as the elderly and people with serious underlying illnesses.

According to Dr Chakkarat, during last week’s Songkran holiday, many people of working age were out enjoying activities in public places. They ran a low risk of developing severe symptoms if infected because most of them were fully vaccinated and had received one or two booster jabs. But there is mounting concern that they might have passed the virus on to vulnerable people during Songkran visits to family and friends.

Around 55 percent of those in vulnerable groups have not been inoculated at all, he said.

He advised people who come into close contact with vulnerable people to wear face masks, sleep in separate rooms, practice social distancing when eating and make sure elderly relations are vaccinated.

Source: Vietnam News Agency