Day: November 17, 2022

The Korea Asset Management Corporation (KAMCO) announced on November 16 that it has transferred the operation technology of its OnBid – an online auction system – to Ho Chi Minh City.

 

Onbid is the first online public auction platform in the Republic of Korea developed by KAMCO in 2002 to handle public property efficiently. KAMCO also discussed measures to install and operate the system in Ho Chi Minh City.

 

KAMCO CEO Kwon Nam-joo said the company has recently organised an OnBid training workshop for Ho Chi Minh City’s officials at the headquarters of the Busan International Financial Centre to promote the establishment and operation of the online auction system in the Vietnamese city.

 

In this training course, KAMCO shared experience in the operation of the system as well as specific cases such as the settlement process and online auction institution, and the structure, main tasks and business models of the system./.

Source: Vietnam News Agency

Vietnam’s aquatic export revenue to China has grown impressively so far this year, contributing to the success of the fisheries sector.

 

In 2019, before the COVID-19 pandemic broke out, Vietnam enjoyed a record revenue of over 1.2 billion USD from China, making fisheries one of the three agro-forestry-fisheries products with highest export value in the market.

 

However, the figure fell to under 1 billion USD in 2021 due to impacts of the pandemic.

 

But since the beginning of this year, fisheries exports to China have recovered. Statistics from the General Department of Vietnam Customs showed that in the first 10 months of this year, those to China exceeded 1.3 billion USD, a year-on-year rise of 82%, marking a new record.

 

Explaining the situation, experts held that the “Zero COVID” policy of China has greatly affected the country’s fisheries sector, while the demand for the product is high.

 

According to the Import-Export Department under the Ministry of Industry and Trade, China imported 13.5 billion USD worth of aquatic products in the first nine months of this year, a rise of about 40% year on year.

 

The department forecast that the increase is likely to continue in the remaining months of this year.

 

Shrimp is one of the aquatic products with strongest growth so far this year. In the first eight months of this year, China spent 3.77 billion USD to import this product, a rise of 66.3%. The spending in August alone is 680 million USD, a record level for a month.

 

China’s spending on Vietnamese shrimp in the January-August period reached 198 million USD, a surge of 98.5% year on year.

 

Dr. Ho Quoc Luc, Chairman of Fimexvn, said that in reality China is the largest shrimp importer in the world. However, the country also has a strong domestic shrimp industry, he said, advising Vietnamese businesses to make clearer assessments on this giant market./.

Source: Vietnam News Agency

The 3rd Vietnam International Supporting Industry and Manufacturing Exhibition (VIMEXPO 2022) is underway in Hanoi.

 

Opened on November 16, the three-day exhibition features nearly 300 booths by more than 200 domestic and international enterprises.

 

At the expo, companies will introduce products in automobile manufacturing and assembling, hi-tech industry, electronics and related industries.

 

In the context that the Government together with the business community are making efforts to promote economic recovery in line with safe and flexible adaptation to the COVID-19 pandemic, VIMEXPO 2022 will be an important event, acting as a bridge between Vietnamese and foreign businesses, Deputy Director General of the Industrial Economy Department under the Ministry of Industry and Trade Pham Tuan Anh said at the opening ceremony of the event.

 

It offers opportunities for experience sharing among agencies, organisations, associations, industries and businesses operating in the field of supporting industries and manufacturing, helping enterprises promote their products and technology, he said.

 

Thomas Jacob, International Finance Corporation (IFC) country manager for Vietnam, Cambodia and Laos, said that assisting manufacturing enterprises and supporting industries to shift from low-cost production to higher value segment production and increased access to digital technology will help boost production efficiency and enhance connectivity with foreign businesses and global value chains, thus, improving the competitiveness of local businesses./.

Source: Vietnam News Agency

 

The 7th Italian Food Week in Vietnam under the theme “Conviviality, sustainability and innovation: the ingredients of Italian cuisine for people’s health and safeguarding the planet” is being held to celebrate and share the joy of Italian cuisine.

 

This year’s programme took place on November 16 at many restaurants in Hanoi and Da Lat with the participation of chef Marco Squizzato from the Federazione Italiana Cuochi (Federation of Italian Chefs), who has more than 20 years of experience as a chef and won many international awards.

 

A number of events will take place in Hanoi to promote the healthiness and authenticity of Italian culinary culture and the excellence of Made in Italy agri-food.

 

Ambassador of Italy to Vietnam Antonio Alessandro said that Italy is a country with strengths in food production and export. In particular, the food manufacturing industry has shown a great rebound, with positive growth despite the negative impacts of the COVID-19 pandemic.

 

Every year, Italy organises “Italian Cuisine Week” in Vietnam and many countries around the world with the desire to promote Italian dishes and products as well as the unique features of culture, lifestyle and background, towards keeping the health of Italians. The event also aims to promote the exchange between Italian culinary culture and the unique cuisine of Vietnamese people.

 

Another problem shared by the Italian Ambassador is the warning “genuine choice” for consumers. He said products made in Italy are the most copied brands in the world. He hoped that Vietnamese consumers would buy Italian food from authorised dealers to have genuine products produced, packaged and preserved according to Italian standards.

 

During the week, selected Italian restaurants in Vietnam will also present a “Special Menu” combining tradition, sustainability and innovation./.

Source: Vietnam News Agency

Vietnam advocates switching from attracting FDI to cooperating with foreign investors in the spirit of equality for mutual benefits and development, with priority given to hi-tech and eco-friendly projects, said President Nguyen Xuan Phuc at a high-level seminar with the US-APEC Business Alliance for Competitive SMEs in Bangkok on November 17.

 

President Phuc said with macro-economic stability and controlled inflation, Vietnam has been named among the world’s top 20 economies in terms of trade, with GDP growing by 8.83% in the first nine months of this year. International organisations like the World Bank and the International Monetary Fund predicted the growth at about 7.5-8.2% this year. The UN Conference on Trade and Development listed Vietnam among the top 20 FDI destinations globally.

 

He suggested US firms enhance connectivity, make it easier for Vietnamese enterprises to join their manufacturing supply chain, thus turning Vietnam into one of the value chain hubs in the region and the world.

 

Representatives from US firms and economic groups spoke highly of Vietnam’s economic growth in recent years, especially FDI attraction policy, COVID-19 response, and political and economic stability.

 

Michael Michalak, Senior Vice President and Regional Managing Director of the US-ASEAN Business Council and former US Ambassador to Vietnam, recalled that the US firms and investors always receive support from President Phuc in his different positions as well as relevant Vietnamese agencies.

 

Quint Simon, representative of Amazon Web Services, said he hopes Vietnam will offer more incentives to develop digital economic services such as cloud computing and cyber security. He also committed to partnering with Vietnam in digital transformation process.

 

Representatives from US firms and corporations vowed to continue expanding investment in Vietnam and bring new products and modern technology to the country in health care, population, digital transformation in finance-banking, smart agriculture, renewable energy, infrastructure building, hi-tech, information technology, and research and development.

The Vietnamese leader stressed that Vietnam will step up green growth, digital economy, sci-tech, innovation and deeply join the global investment structure, trade order and supply chain.

 

Vietnam will further open its economy, switch to quality and focused FDI cooperation; help domestic enterprises improve production capacity to join the supply chains of foreign-invested firms, he said, adding that the country will also strive to create a transparent and favourable business environment in line with new-generation free trade agreements and toward practices of the Organisation for Economic Cooperation and Development (OECD).

 

These include maintaining socio-political and macroeconomic stability; removing economic bottlenecks related to legal institutions, infrastructure and human resources; develop supply chains, reduce transaction costs, especially logistics and administrative costs; and building an environment with stable policies, transparency and accountability.

 

He wished that with their pioneering roles, US firms will expand their operations in Vietnam to contribute to its socio-economic development in the near future./.

 

Source: Vietnam News Agency

President Nguyen Xuan Phuc met President of the Thai National Assembly Chuan Leekpai in Bangkok on November 17 within the framework of his official visit to Thailand.

 

Congratulating Vietnam on its economic recovery and growth post COVID-19, Chuan Leekpai affirmed that the country is an important partner of Thailand in Asia.

 

President Phuc expressed his delight at the close cooperation of the two National Assemblies, including the outcomes of the talks between Vietnamese NA Chairman Vuong Dinh Hue and his Thai counterpart in August 2021, and appreciated the Thai leader’s contributions to the two countries’ friendship and cooperation.

 

The two sides agreed to intensify high-level and all-level contacts and exchanges, continue promoting the role of the legislative bodies in boosting the bilateral relations and supervising the implementation of the signed agreements, and share experience in the building and perfection of policies and laws to facilitate bilateral collaboration.

 

Chuan Leekpai affirmed to coordinate closely with the Vietnamese side in carrying out the agreement on mutual legal assistance in civil matters freshly signed between the two nations.

 

Speaking highly of the quality of Vietnamese education, he stressed the need to expand bilateral cooperation in education and training, and intensify the teaching of the Vietnamese language in Thailand and vice versa.

 

He also asserted that the Thai NA will continue supporting and creating more favourable conditions for the Vietnamese community and Vietnamese associations in his country.

 

The Vietnamese leader proposed the Thai parliament back the opening of the Thai market for more Vietnamese goods, and speed up the signing and ratification of new agreements to better meet diverse collaboration needs between the two sides.

 

Regarding the international and regional situations, Phuc suggested the Thai National Assembly continue to back the maintenance of ASEAN’s common stance on keeping peace and stability; ensuring security, safety and freedom of navigation and aviation in the East Sea; and settling disputes by peaceful means, on the basis of international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS), fully implementing the Declaration on the Conduct of Parties in the Sea East (DOC), and soon achieving a substantive and effective Code of Conduct in the East Sea (COC) in accordance with international law./.

Source: Vietnam News Agency

Ensuring a fair, transparent and efficient international trading system is crucial in a global “playground”, stated President Nguyen Xuan Phuc while highlighting major requirements/characteristics of trade and investment activities in the new period.

 

Addressing a discussion on the future of Asia-Pacific trade and investment during the APEC CEO Summit 2022, which took place in Thailand from November 16-18 with the participation of more than 850 leaders of world and regional leading businesses, the Vietnamese leader said that digital transformation is an inevitable and objective trend that is taking place very strongly and extensively, positively affecting cross-border trade and the global economy.

 

Stemming from difficulties and challenges in the past two years, the world and the region are establishing new, resilient and sustainable supply chains, with diversified supply sources, effective monitoring mechanisms and traceability, he said.

 

The president held that under the impact of the COVID-19 pandemic and climate change, some areas such as health, biotechnology, clean energy, and carbon emission reduction will strongly attract foreign direct investment (FDI) in the time to come.

 

Mentioning Vietnam’s policies and achievements in socio-economic development, he said that amidst many difficulties, Vietnam has maintained macro-economic stability, while keeping inflation under good control and ensuring major balances in energy and food.

 

According to forecasts of many international organisations, Vietnam will be among the countries with high gross domestic product (GDP) growth in the Asia-Pacific region, with expansion reaching 7.2% in 2022 and 6.7% in 2023.

 

As one of the dynamic economies with high level of openness and a destination for many multinational groups, Vietnam has signed and implemented nearly 60 agreements on investment promotion and protection, along with 15 free trade agreements, including new generation agreements with high standards such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and the Regional Comprehensive Economic Partnership (RCEP). Vietnam’s recent economic achievements are clear evidences that increased trade and investment cooperation at the regional and global levels can benefit all stakeholders, he stressed.

 

President Phuc also made known Vietnam’s priorities in investment attraction, including quality, efficiency, technology, and environmental protection.

 

Vietnam wishes to attract FDI projects with high technology, helping promote innovation and development research, creating favourable conditions for Vietnamese enterprises to participate in regional and global value chains, and boosting digital, green and circular economy, he underlined.

 

The country attaches importance to the significance of accompanying with businesses, putting them in the core position, and sharing, listening and solving their difficulties under all circumstances, along with the reform and simplification of administrative procedures. Vietnam hopes that the APEC business community will uphold the spirit of cooperation, overcome difficulties and challenges, and continue to promote investment and business activities in the region, he stated.

 

Along with President Phuc, major keynote speakers of the APEC CEO Summit 2022 also included Chinese President Xi Jinping, Thai Prime Minister Prayut Chan-o-cha, French President Emmanuel Macron, Indonesian President Joko Widodo, and US Vice President Kamala Harris./.

Source: Vietnam News Agency

 

IDP, one of the two IELTS test organisers in Vietnam, has been granted permission to resume the language examinations by the Ministry of Education and Training (MoET).

 

Deputy Minister of Education and Training Nguyen Huu Do signed a document approving the decision on November 17 morning, resuming the language tests after one week of suspension.

 

The document comes into effect immediately and for a duration of five years.

 

Speaking to Vietnamnet online newspaper, a source from the MoET said that the other IELTS test organiser, British Council in Vietnam, is still in the review process.

 

The results are expected to be announced within the next few days.

 

The education and training deputy minister Nguyen Huu Do said: “The Education Quality Management Agency is actively providing support to the organisations.

 

“The ministry will soon issue the approval when the dossiers fully meet the requirements, ensuring maximum benefits for candidates.”

 

On November 11, the MoET approved the examinations for the Aptis and Linguaskill certificates.

 

On November 10, the IELTS examinations, one of the most popular English certifications in Vietnam, were postponed for inspection until further notice. Other foreign language proficiency tests for Korean, Japanese and Chinese languages were also halted.

 

The decision came as a surprise and had been causing concerns among students and parents, with some thought of going to neighbouring countries to take the test.

 

The reason for the pause was that test organisers had not completed their dossier as required by the MoET, according to Decree No. 86/2018/ND-CP, and Circular No. 11/2022/TT-BGDDT.

 

Early this week, IDP Education in Vietnam CEO said that it had submitted the required documents to the MoET for review and process. The British Council in Vietnam was also expected to do the same.

 

According to regulations, the dossier processing time is 20 days./.

Source: Vietnam News Agency