Day: September 16, 2022

Vietnam hopes to boost its exports of computers, electronic products and components to the UK in the near future after it has gained success in shipping this group of goods to many other overseas markets.

In 2021, exports of computers, electronic products and components earned Vietnam 50.8  billion USD, making it the second biggest export group, according to the General Department of Customs.

Export turnover of this group of goods last year grew 14.1% year-on-year, equivalent to an increase of 6.3 billion USD, accounting for over 15% of the nation’s total export turnover.

The US market was the biggest for this group of goods from Vietnam, accounting for 25% of exports. Exports to mainland China reached nearly 11.1 billion USD, although only increased by less than 1% and accounted for 21.83% of the total export turnover of the whole industry.

The third largest market was Hong Kong, which grew by 50%, bringing turnover to 6.3 billion USD. The EU came fourth with 5.9 billion USD, up 2.6%, and the Republic of Korea ranked fifth, reaching 3.5 billion USD, up nearly 22%.

Four other markets with export turnover from 1 billion USD to 2 billion USD were the Netherlands with 1.8 billion USD, up 5.2%; Mexico (1.4 billion USD, up 17.4%); Poland (1.1 billion USD, up 14.9%) and Slovakia (1.0 billion USD, up 27.7%).

In addition, there were a series of markets with import turnover of nearly 1 billion USD, including Japan (996 billion USD), Taiwan (938 million USD), Singapore (924 million USD), and India (828 million USD).

In 2021, Vietnam’s exports of computers, electronic products and components to the UK also saw an encouraging increase of 5.6% year-on-year. This group of goods was also among the list of key industrial products of Vietnam exported to the UK. That also included phones and components; machinery, equipment and spare parts, and steel and iron.

The Ministry of Industry and Trade said tariff preferences under the UK-Vietnam Free Trade Agreement (UKVFTA) are providing many Vietnamese products, typically computers, electronic products and components, with competitive advantages compared with similar products from other countries.

Under the trade pact, 74% of tariffs on computers, electronic products and components imported from Vietnam have been eliminated since January 1, 2021 while tariffs on all other products will be removed after two or four years.

In addition, Vietnamese exporters can also utilise the UK’s increasing demand for these products to foster their exports to this lucrative market, trade experts said.

The UK Department for International Trade said that out of the UK’s top 10 imported products in 2021, electronic equipment ranked fifth with a turnover of 45.1 billion GBP (52.7 billion USD), up 3% year-on-year. In the second quarter of this year, the UK’s electronic equipment saw a yearly hike of 15.7% to surpass 12.5 billion GBP.

Nguyen Canh Cuong, trade counsellor at Vietnam’s Embassy to the UK, told Viet Nam News that the UK does not have its own consumer electronics manufacturing industry. All consumer electronics products available in the market are imported.

Market demand is huge and is constantly increasing, especially for smartphones, tablets, laptops and PCs, Cuong said, adding that that will create opportunities for Vietnam’s consumer electronics products.

He told Viet Nam News that Vietnam’s exports of consumer electronics products to the UK will surge in the near future.

Despite a bright outlook for this group of goods to the UK, more support from the State and greater efforts from Vietnamese exporters are needed amid the country’s participation in many free trade agreements, experts have suggested.

In order to facilitate exports of computers, electronic products and components to overseas markets including the UK, the General Statistics Office underlined the need to provide support for firms in the process of researching new products, launch trade promotion schemes, and fine-tune the legal system, especially specific regulations placed on goods of Vietnamese origin.

Simultaneously, it is essential to boost export market expansion, improve the operational efficiency of Vietnam’s representative agencies abroad and sector associations in implementing trade promotion activities whilst disseminating the details of the FTAs so that businesses could utilise the opportunities brought by these FTAs.

The export turnover of computers, electronic products and components is forecast to continue to grow strongly this year and the export milestone of 60 billion USD is not out of reach, according to experts./.

Source: Vietnam News Agency

Border guards stationed in Vietnam’s northernmost province of Ha Giang and officers from a border checkpoint in China’s Yunnan province held a joint patrol on September 16.

The guards from the Thanh Thuy International Border Gate in Ha Giang and the Tianbao checkpoint in Yunnan’s Malipo county patrolled the border from Marker 261/2 to Marker 260+500.

They also exchanged information about imports – exports, exit – entry, and the COVID-19 situation, and discussed measures to prevent illegal border crossings.

They agreed to further improve law enforcement effectiveness along the border, examine border demarcations to detect any signs of violation, and increase communications to improve border residents’ awareness of and adherence to the law.

The two sides concurred that when the pandemic is brought under control and normal status is resumed, they will continue organising more joint border patrols, frequently share information and experience, and work together to develop economic activities, guarantee political security, social order and safety, and fight cross-border crimes, thereby helping build a Vietnam – China border of peace, friendship, cooperation and development.

Vietnam and China share a border of almost 1,450 km, including 1,065.6 km on land and 383.9 km over water. It traverses seven Vietnamese provinces (Dien Bien, Lai Chau, Lao Cai, Ha Giang, Cao Bang, Lang Son, and Quang Ninh) and China’s Yunnan province and Guangxi Zhuang Autonomous Region./.

Source: Vietnam News Agency

President Nguyen Xuan Phuc hosted a reception in Hanoi on September 16 for a number of international scientists and Nobel laureates who are in Vietnam to attend the “Science, Ethics and Human Development” conference within the framework of the 13th Meet Vietnam programme.

During the meeting, the President spoke highly of the theme of the conference, saying that the event’s contents are close to Vietnam’s vision and development strategy.

Opinions from scientists at the conference will be collected for reference during Vietnam’s policymaking and administration work, he stressed.

He highlighted the crucial role played by science – technology and innovation for promoting rapid and sustainable development in Vietnam, noting that these areas are the leading national policy deciders and key motivation for modern and sustainable industrial development with high-growth.

Vietnam always focuses on comprehensive human development and promoting the creativity of its people, while ensuring social security, healthcare, improving living standards and leaving no one behind, he said.

Vietnam has been making efforts to implement the UN’s Sustainable Development Goals (SDGs – 2030), he said, adding that Vietnam’s decisions are geared towards sustainable development, so the application of science and technology or the allocation of resources  are not aimed solely at high growth, but at the protection of its people and the environment.

Last year, Vietnam was named among the world’s top 40  economies with the largest GDP in the world, and the 16 most successful emerging economies globally.  According to the UN’s 2021 rankings, Vietnam ranked 49th in the SDG ranking and 115th in the global Human Development Index.

The President said Vietnam hopes to receive support and cooperation from the international community, especially from scientists attending the conference, helping it release  the goal of becoming a developed country with a high-income by 2045.

More than 50 domestic and foreign scientists attended the “Science, Ethics and Human Development” conference held in Quy Nhon city, central Binh Dinh province,  from September 13-16./.

Source: Vietnam News Agency

Party General Secretary Nguyen Phu Trong chaired a meeting of the Politburo and the Party Central Committee’s Secretariat on September 16 to consider disciplinary measures against some collectives, incumbent and former officials of Hai Duong province for their wrongdoings.

After considering proposals by the Party Central Committee’s Inspection Commission, the Politburo and Secretariat held that the Standing Board of the Hai Duong provincial Party Committee in the 2020 – 2025 tenure violated the democratic centralism principle and working regulations, lacked examination and supervision, and failed to detect wrongdoings and shortcomings by the Party Civil Affairs Board of the provincial People’s Committee, the provincial People’s Committee, and many Party organisations and members during the leadership over and implementation of anti-COVID-19 tasks in a timely manner.

The Party Civil Affairs Board of the Hai Duong People’s Committee in the 2016 – 2021 and 2021 – 2026 tenures infringed the democratic centralism principle, the Party’s regulations, the State’s laws, and working regulations; lacked a sense of responsibility; and showed lax leadership over examination and inspection, which enabled the People’s Committee and some organisations and individuals to commit many wrongdoings and shortcomings in the COVID-19 combat, and also enabled Tu Ky district to violate the Public Investment Law and the Construction Law.

The Politburo and Secretariat pointed out wrongdoings and shortcomings by some incumbent and former officials of Hai Duong, namely Pham Xuan Thang (member of the Party Central Committee, Secretary of the provincial Party Committee, and Chairman of the provincial People’s Council), Trieu The Hung (Vice Secretary of the provincial Party Committee, Secretary of the Party Civil Affairs Board at and Chairman of the provincial People’s Committee, and head of the province’s steering committee for COVID-19 prevention and control), Nguyen Duong Thai (former Vice Secretary of the provincial Party Committee, former Secretary of the Party Civil Affairs Board at and former Chairman of the provincial People’s Committee), Luong Van Cau (former member of the provincial Party Committee, former member of the Party Civil Affairs Board at and former Vice Chairman of the provincial People’s Committee), Pham Manh Cuong (member of the provincial Party Committee, Secretary of the Party Committee at and Director of the provincial Health Department), and Nguyen Trong Hung (former member of the provincial Party Committee, former Secretary of the Party Committee at and former Director of the provincial Finance Department).

The wrongdoings and shortcomings by the Standing Board of the Hai Duong Party Committee in the 2020 – 2025 tenure, the Party Civil Affairs Board of the provincial People’s Committee in the 2016 – 2021 tenure, Pham Xuan Thang, Nguyen Duong Thai, and Pham Manh Cuong caused “very serious” consequences and big losses to the State budget, people, and society; enabled the corruption case at the Hai Duong Centre for Disease Control; stirred public concern; and damaged the reputation of the Party organisations, local administration, and themselves.

Meanwhile, the wrongdoings and shortcomings by Luong Van Cau and Nguyen Trong Hung caused “serious” consequences, stirred public concern, and eroded the reputation of the Party organisations and local administration.

The wrongdoings and shortcomings by the Party Civil Affairs Board of the provincial People’s Committee in the 2021 – 2026 tenure were so serious to an extent that requires disciplinary measures, according to the Politburo and Secretariat.

The Politburo decided to issue a warning against the Standing Board of the Hai Duong Party Committee in the 2020 – 2025 tenure, suspend Pham Xuan Thang from Party activities and positions, and propose the Party Central Committee consider a disciplinary measure against him.

The Secretariat decided to issue reprimands against the Party Civil Affairs Board of the Hai Duong People’s Committee in the 2021 – 2026 tenure, Trieu The Hung, and Luong Van Cau; give warnings to the Party Civil Affairs Board of the People’s Committee in the 2016 – 2021 tenure; dismiss Nguyen Trong Hung from the membership of the provincial Party Committee in the 2020 – 2025 tenure; dismiss Nguyen Duong Thai from all Party-related positions; and expel Pham Manh Cuong from the Party.

The Politburo and Secretariat also asked relevant agencies to impose administrative disciplinary measures on the abovementioned collectives and individuals./.

Source: Vietnam News Agency

The CLMV Action Plan for the 2023-2024 period was approved at the 14th Cambodia, Laos, Myanmar and Vietnam Economic Ministers’ Meeting (CLMV-EMM 14), which took place on September 16 in the framework of the 54th ASEAN Economic Ministers’ Meeting (AEM-54) in Cambodia’s Siem Reap province under the chair of Vietnamese Minister of Industry and Trade Nguyen Hong Dien.

Delegates focused on discussing the economic, trade and investment situation in the four countries; the progress of implementing the CLMV Action Plan for the 2021-2022 period.

Senior economic officials from the four countries (SEOM CLMV) were assigned to actively coordinate and collect proposals related cooperation projects from relevant ministries, sectors and agencies, and send them to the ASEAN Secretariat for inclusion in the action plan.

In his remarks, Minister Dien, who is also head of the Vietnamese delegation to AEM-54, applauded the addition of digital economy as a cooperation field to the action plan, saying that this is a new development trend of the region and the world that attracts the interest of many countries.

The digital economy will help businesses in Cambodia, Laos, Myanmar and Vietnam – especially small and medium-sized enterprises, shift to new business models, reduce costs, improve business efficiency, and increase access to customers and markets, he said.

The Vietnamese delegation also announced that Vietnam will continue to support booths of Cambodia, Laos and Myanmar at a number of major international fairs and exhibitions organized by Vietnam; and maintain its scholarship programmes for students from these countries.

Vietnam also suggested the four countries strengthen cooperation, facilitate trade connections, and remove obstacles and barriers in order to further improve trade exchanges.

It also underlined the need for the countries to support each other in effectively implement free trade agreements (FTAs) to which they are members, contributing to realising benefits brought by FTAs; strengthening regional supply chains and assisting the business community.

Another key discussion of the meeting was the adoption of an action plan for implementing the the CLMV Development Framework.

After more than two years of active work, the countries have agreed on the content of the document, especially the action plan with over 150 cooperation activities that will be implemented from 2023 to 2030 to develop important areas and promote cooperation between the four countries in pillars, towards facilitating investment, customs, and trade cooperation, financial system development, human resources, agriculture and tourism.

Participants agreed to assign SEOM CLMV to coordinate with relevant agencies, ministries and sectors of each country to soon implement cooperation activities and projects in the action plan, contributing to realising the goal of developing the four countries into upper middle income countries by 2030, and make the group a progressive business centre in the region and in the world.

The ASEAN Secretariat’s representatives stressed that the four countries need to continue to cooperate with each other to implement cooperation projects in the coming time; support businesses in digital transformation and hi-tech application in industrial production; encourage the participation of the private sector; and ensure that supply and value chains in the region are not interrupted.

Minister Nguyen Hong Dien thanked Cambodia, Laos and Myanmar, and the ASEAN Secretariat for actively supporting and cooperating closely with Vietnam, helping the country fulfill its role as the chair of the CLMV economic cooperation mechanism in 2022.

He also congratulated Cambodia on hosting the CLMV economic cooperation mechanism in 2023, expressing his belief that Cambodia will successfully take on this role.

Initiated by Vietnam in 2010, CLMV-EMM mechanism aims to further strengthen economic and trade relations among CLMV countries; coordinate more closely in activities of sub-regional, regional and international forums; narrow the development gap between the four countries and other ASEAN member nations; and speed up the implementation of agreements reached at CLMV summits./

Source: Vietnam News Agency

The Vietnam Trade Promotion Agency (VIETRADE) and the Commerce Commission of China’s Chongqing city signed a memorandum of understanding on enhancing economic, trade and investment cooperation at a teleconference on September 16.

Vietnamese Deputy Minister of Industry and Trade Do Thang Hai noted that with many advantages for economic, trade, and investment ties, China has continually been the largest and most important trading partner of Vietnam.

Despite impacts of the COVID-19 pandemic, bilateral trade still topped 100 billion USD in 2020 and 2021. It surpassed 117 billion USD in the first eight months of 2022, up 10.8% year on year, according to the General Department of Vietnam Customs.

Realising the potential and important role of the market in China’s western region, including Chongqing – one of the four provincial-level municipalities in the country, with the Chinese Government’s support, the Ministry of Industry and Trade decided to choose this city to set up Vietnam’s first trade promotion office in China in 2014.

Hai cited data from China Customs as showing that trade between Vietnam and Chongqing exceeded 4.5 billion USD in 2019, more than doubling the 2 billion USD in 2018. It continued growing to over 7.3 billion USD in 2020 and 7.93 billion USD in 2021.

Vietnam is also an attractive destination for many Chongqing investors who have invested in over 20 projects in the Southeast Asian nation.

Those outcomes have substantially contributed to economic, trade, and investment links between Vietnam and China, the Deputy Minister said.

On this occasion, apart from the MoU between VIETTRADE and the Commerce Commission of Chongqing, two cooperation agreements were also signed between associations and businesses of Vietnam and the Chinese city./.

Source: Vietnam News Agency

Vietnamese Ambassador to Australia Nguyen Tat Thanh paid an official visit to Tasmania state, southern Australia, on September 15-16 to strengthen connection and expand cooperation in areas of mutual interest.

The visit was made at the invitation of Premier Jeremy Rockliff.

During his reception for the Vietnamese diplomat, Rockliff expressed his delight at outstanding achievements in the Australia-Vietnam strategic partnership, and hoped that the two countries will further tighten this relationship.

He said the Tasmania authority is promoting cooperation with the Association of Southeast Asian Nations (ASEAN), including Vietnam.

The premier revealed that he will lead a delegation, including representatives from some universities and businesses of the state, to pay an official visit to Vietnam in mid-October to promote trade, investment, education and tourism cooperation with Vietnam.

He stressed that the Tasmanian Trade Strategy 2019-2025 will soon be adjusted in the direction of prioritising cooperation with a number of potential countries, including Vietnam.

For his part, Ambassador Thanh noted with pleasure activities to strengthen connection between Tasmania and localities of Vietnam, especially in its strengths such as mining, agro-forestry-aquaculture, response to climate change, renewable energy, tourism, sea and ocean.

He spoke highly of the Australian state’s trade growth target to 15 billion AUD (10.5 billion USD) by 2050, while showing his belief that with its long-term strategies and goals, Tasmania will expand and deepen comprehensive cooperation with Vietnamese localities.

During the trip, the Ambassador had meetings with representatives from the parliament, ministries, sectors, education establishments and businesses of Tasmania, during which they expressed their joy at Vietnam’s economic development and the trend of comprehensive and extensive cooperation between Australia and Vietnam./.

Source: Vietnam News Agency