Month: April 2022

A new circular issued by the Ministry of Planning and Investment takes effect on April 1 guiding the supervision and assessment of foreign investment in Vietnam.

Regarding assessment of foreign investment, Circular 02/2022/TT-BKHDT regulates the contents subject to final assessment, including the pace of contribution of charter capital, legal capital and investment capital by foreign-invested economic organizations to foreign-invested projects.

The mobilization of capital and the use of mobilized capital is also subject to assessment as are the pace of project implementation in comparison with set schedule; the use of land and labour in the investment projects; the compliance to environmental protection regulations; and the performance of financial obligations to the State.

The circular also requires evaluation of the realization of projects’ targets and the benefits that they bring about.

The supervision and assessment of investment in the stock market will be carried out in line with legal regulations governing the securities industry./.

Source: Vietnam News Agency

A delegation of the Vietnamese Embassy in Thailand led by Ambassador Phan Chi Thanh on March 30-31 visited in Ratchaburi and Kanchanaburi provinces to foster tourism cooperation and twinning between them and Vietnamese localities.

During meetings with the two provinces’ authorities, the Vietnamese diplomat highlighted the sound development of Vietnam-Thailand ties across all spheres over the past 45 years, noting that the nations now have 18 twin towns.

Thanh hoped that Ratchaburi and Kanchanaburi with their strengths would push for cooperation with their Vietnamese peers toward the establishment of twin town relations.

Ronapop Leungpiroj, Governor of Ratchaburi, said the tourism industries of Vietnam and Thailand see many prospects for cooperation, especially after both countries have loosened their post-COVID-19 immigration policies.

Ronnapop Viengsimma, Deputy Governor of Kanchanaburi, said the province wants to set up twining ties with a Vietnamese locality but the plan is hindered by COVID-19. He said he will propose the governor to implement the twining plan.

Ambassador Thanh thanked the Kanchanaburi authorities for supporting the Vietnamese community in maintaining Vietnamese pagodas there and stated the embassy is willing to aid the province to connect with Vietnamese localities for cooperation promotion in the time to come.

Source: Vietnam News Agency

The Vietnam News Agency (VNA) and the sub-committee for information and communications of the 31st Southeast Asian Games (SEA Games) met in Hanoi on April 1 to discuss cooperation in covering the coming regional sports event.

VNA Deputy General Director Nguyen Tuan Hung and Deputy General Director of the National Sports Administration under the Ministry of Culture, Sports and Tourism Le Thi Hoang Yen attended the meeting.

Earlier, the two sides signed a cooperation agreement on spreading information about the Games on March 29.

Accordingly, the VNA, as the key press agency for foreign service of Vietnam, will coordinate with the sub-committee to increase the coverage of the 31st SEA Games, including organisation preparations as well as the determination and results of national teams. It will also boost popularising the Vietnamese people’s hospitality among international friends.

As the host news agency, the VNA will provide and edit content for the Games’ official website, open a bilingual sub-web in Vietnamese and English about the event, publish related news on all of its print publications and e-newspapers, and supply information for domestic and foreign media agencies.

The two sides will also hold a photo competition and exhibition at the Games’ press centre, expected to be based at the National Convention Centre in Hanoi.

The 31st SEA Games, themed “For a stronger South East Asia”, is scheduled to run in Hanoi and 11 neighbouring localities from May 12 to 23. It will feature 40 sports with 526 events and expect to attract around 10,000 participants. The biennial event was initially slated for late 2021 but delayed due to the pandemic’s impact.

At the 30th SEA Games in 2019, Vietnam finished second in the overall medal standings, with 98 golds, 85 silvers and 105 bronzes, following the hosts the Philippines./.

Source: Vietnam News Agency

Vietnamese Ambassador to the UK Nguyen Hoang Long and a delegation of Vietnamese artists paid a courtesy visit to Minister of State at the Cabinet Office of the UK Nigel Adams in London on March 31 on the occasion of the ongoing Vietnam Days in the UK 2022.

At the meeting, Ambassador Long spotlighted the significance of the Vietnam Days in the UK 2022, saying that it offers a chance to advance the friendship and cooperation between the two countries.

For his part, Adams shared his impression of Vietnam during his working visit to the Southeast Asian nation in July last year, saying that he was especially impressed by Vietnamese wonderful songs and musical melodies thereby understanding the important role of culture and music for the Vietnamese people. He thanked Vietnamese artists for their contributions to the programme celebrating Queen Elizabeth II’s 70th anniversary of ascending to the throne.

The UK official emphasised the importance of artistic language and music, and spoke highly of Vietnam’s cultural and artistic events in the UK.

He promised to do his best to further foster the friendship, mutual understanding and cooperation between the two countries, expressing his belief that the bilateral relations will develop more and more sustainably in the future.

Addressing the meeting, Secretary of State for Education of the UK Nadhim Zahawi said he hopes the two countries will further expand their friendship and cooperation in the coming time, especially in education./.

Source: Vietnam News Agency

The Politburo held a meeting on April 1 to discuss a project to review the 10-year implementation of a resolution issued by the 11th-tenure Politburo on orientations and tasks for the development of the Hanoi Capital Region in the 2011-2020 period.

Members of the Politburo recognised Hanoi’s achievements after a decade of implementing the resolution, with economic growth of 6.83 percent per year, higher than the national’s average, and a rising position and prestige in the country and region. The building and rectification of the Party and political system has been implemented effectively. However, they also pointed to a number of shortcomings in the work, with some uncompleted targets. The city has yet to serve well as an economic centre of the region, while its connectivity with other localities remains poor, they said.

In order to promote the region’s role as a leading political-administrative hub of the whole country and a large international cultural, science, education and economic centre as well as a development motivation for the region and the whole country, Politburo members agreed to issue a new resolution on the development orientations and tasks until 2030 with a vision to 2045.

Under the new resolution, by 2030, Hanoi is expected to become the first locality to have completed the industrialisation and modernisation. By 2045, the city is hoped to become a globally-connected city with high living conditions and comprehensive growth to the same level with leading cities and capitals in the region.

The Politburo asked the Party Organisation, administration and locals of Hanoi to stay united and determined to work with central ministries, sectors and agencies as well as other localities to effectively implement the resolution. The Politburo underlined the need to make comprehensive adjustments to the Capital Law to meet the development requirements of the capital city in the new situation.

Addressing the meeting, Party General Secretary Nguyen Phu Trong said that the city should be deeply aware of its special important position and role.

He stressed that on the foundation of the new resolution, the Capital Law should be amended and supplemented in line with the spirit of the resolution so as to deal with new problems in the current reality./.

Source: Vietnam News Agency

On behalf of the Prime Minister, Assistant to the Minister of Foreign Affairs Nguyen Minh Hang on April 1 symbolically presented 200 tonnes of rice worth nearly 100,000 USD as a gift from the Vietnamese Government and people to the Philippines to help address Typhoon Rai’s aftermath.

Hang expressed her sympathies with the Philippine people on the consequences caused by Typhoon Rai that hit the country last December.

She stressed that the Vietnamese Government and people always stand side by side with their Philippine counterparts in the spirit of cooperation, friendship, and mutual support.

The rice aid demonstrates Vietnam’s attention to the storm victims as well as its wish to unceasingly solidify the strategic partnership between the two countries.

For his part, Philippine Ambassador Meynardo Montealegre thanked the Vietnamese Government and people for the precious support, describing this as practical assistance for his country in the trying time.

He affirmed that the Philippine side will work closely with Vietnam to complete relevant procedures to swiftly distribute the rice to people in the typhoon-hit areas./.

Source: Vietnam News Agency

The PetroVietnam Exploration Production Corporation (PVEP) has fulfilled its yearly profit target for 2022 by the end of the first quarter of the year, earning an estimated 5,892 billion VND (nearly 258 million USD) in pre-tax profit, up 117 percent year-on-year and surpassing the yearly plan by 2 percent.

The corporation pumped 950,000 tonnes of oil equivalent in the period, exceeding the quarter’s plan by 16 percent. The volume included 620,000 tonnes of oil and condensate and 324 million cu.m of gas, 5 percent and 48 percent, respectively, higher than the quarterly plan.

Thanks to high oil prices in the world market and rising oil output, PVEP’s revenue in the first quarter topped 11.23 trillion VND (491.7 million USD), 70 percent higher than the plan and up 66 percent from the same period last year. The company contributed more than 4.17 trillion VND to the State budget.

Since the start of the year, the company has built a specific plan to realise set targets and ensure safety in operations.

PVEP is keeping a close eye on field development activities alongside current projects. It also works with partners to bolster oil field management and exploration, and rolls out measures to increase the recovery factor of crude oil.

In Q2, the State-owned corporation will strive for a target of producing 920,000 tonnes of oil equivalent, including 620,000 tonnes of oil and condensate and 301 million cu.m of gas./.

Source: Vietnam News Agency

Four out of 10 Association of Southeast Asian Nations (ASEAN) member states’ pavilions were presented with awards at the World Expo 2020 Dubai on March 30 by the Bureau International des Expositions (BIE), before the expo closed on March 31.

A statement from the ASEAN Secretariat said that Malaysia and Singapore were given the gold awards in Theme Development and Architecture, respectively for self-built pavilions in the small to extra small category. Cambodia got the Silver in Exhibition Design for thematic pavilions in the sustainability district, while Vietnam clinched the Bronze for Theme Interpretation among rented pavilions.

The award recipients were chosen for their strong adherence to the Expo 2020 theme of “Connecting Minds, Creating the Future” while taking into account the tenets of sustainability as well as innovation.

“ASEAN is extremely proud of the recognition given to the four Member States. As a collective unit, ASEAN has portrayed in the World Expo 2020 its cohesiveness, togetherness, and united spirit,” said Lee Yoong Yoong, Commissioner-General for ASEAN at the world expo.

The Expo 2020 Dubai — deemed to be the biggest ever convened — witnessed the participation of more than 200 pavilions by countries and international organisations. The six-month duration event, held once every five years, ended on March 31./

Source: Vietnam News Agency