February 2, 2023 – Page 4 – Vietnam Newswire

February 2, 2023

PM chairs monthly teleconference with localities

Prime Minister Pham Minh Chinh on February 2 asked the Government, ministries, agencies and localities to boost production and trade, deal with difficulties to be faced by businesses and people this month to achieve rapid and sustainable socio-economic development.

Chairing the Government’s monthly teleconference with localities, PM Chinh said since the beginning of this year, the Government has followed the Party Central Committee’s conclusions, the National Assembly and Government’s resolutions and Party General Secretary Nguyen Phu Trong’s directions on 2023 socio-economic development. Ministries, agencies and localities have also drastically performed their assigned tasks.

In January, macro-economic situation was basically stable. The consumer price index rose by 0.52% month-on-month and 4.89% year-on-year.

As of January 17, credit growth hit 0.65% compared to the end of last year, meeting public demand before and during the Lunar New Year (Tet). The State budget collection reached 11.3% of the estimate for the year, while newly-registered FDI tripled the figure in the corresponding period last year to 1.2 billion USD. The trade surplus was estimated at 3.6 billion USD.

National defence-security was guaranteed while external activities were stepped up. Production and trade was on recovery track thanks to big demand during Tet.

As much as 80.8 trillion VND (3.51 billion USD) for socio-economic development was disbursed as of the late January.

About the disbursement of public investment capital in the past 13 months, the Finance Ministry estimated that it reached 92.97% of the Prime Minister’s plan as of January 31. However, the absolute amount disbursed in the past 13 months was up about 23% compared to the same period of the previous year./.

Source: Vietnam News Agency

February 2, 2023

Severe cold spells expected to hit northern mountainous provinces late this month

Severe cold spells are expected to hit northern mountainous and midland provinces in the second half of this month, according to the National Centre for Hydro-meteorological Forecasting.

Nguyen Duc Hoa, deputy head of the agency’s Weather Forecasting Department, said that in the first half of this month, as intensive cold air tends to be weakened and deviates to the East, northern and northcentral localities from Thanh Hoa to Nghe An will see light rain, drizzle, and fog at night and in the early morning.

Meanwhile, there are possibilities that severe cold and harmful cold will appear later this month in mountainous and midland provinces, he added.

Hoa said that the average temperature across the country this month is at approximately similar to the average of many years. Particularly, in the northwest region, the common temperature is 0.5-1.5 degrees Celsius higher than the average of many years in the same period.

The total rainfall in the northwest region will be 5-10mm lower than the average of many years.

Other areas will see a higher rainfall than the average of previous years, especially this year’s rainfalls in the southcentral and southern regions will be 20-40mm higher than the average of many years in the same period./.

Source: Vietnam News Agency

February 2, 2023

Over 1.9 million households still struggle with poverty: Ministry

There remained more than 1.97 million poor and near-poor households nationwide based on the multi-dimensional poverty standards, according to a survey conducted by the Ministry of Labour, Invalids and Social Affairs (MoLISA) in 2022.

The survey showed that the overall national poverty ratio was 7.52%, with 4.03% being poor households and 3.49% being near-poor families.

The highest poverty ratio based on the multi-dimensional poverty standards has been seen in the northern midland and mountainous region, at 21.92%; followed by the Central Highlands at 15.39%; the north-central and central coastal region at 10.04%; the Mekong Delta region at 5.73%; the Red River Delta region at 2.45%, and the southeast region, 0.34%.

The northern midland and mountainous region led in both ratios of poor and near-poor households (14.23% and 7.69%, respectively), while the southeast region reported the lowest ratios at 0.21% and 0.13%, respectively.

The data of the survey serve a foundation for the ministry to decide poverty reduction and social welfare policies as well as other socio-economic policies in 2023.

Under a government decree on the new multi-dimensional poverty standards for the 2021-2025 period, the income-based poverty threshold for poor households is raised from 700,000 VND (29.85 USD) per person per month in rural areas, applicable in the 2016-2020 period, to 1.5 million VND (63.97 USD) per person per month.

In urban areas, it will be 2 million VND (85.29 USD) per person per month, compared with 900,000 VND (38.38 USD) in the previous term./.

Source: Vietnam News Agency

February 2, 2023

Seafood firms look to second quarter for exports to recover

Despite a downturn in the export of aquatic products in the first month of 2023, local exporters remain optimistic that the market will recover from the second quarter of this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

The association reported that in January, total export value of aquatic products dropped 31% to about 600 million USD, with revenue generated from major markets also falling, by 56% in the US market, 55% in China, and 35% in the EU market.

According to VASEP, although in 2022, the country posted a record aquatic export value at 11 billion USD, the result mostly came from high growth in the first three quarters. The trend reversed in the fourth quarter of 2022, with strong decreases seen in all products as many foreign markets were hit by high inflation.

Noting that seafood is an essential food item, Nguyen Thi Anh, Director of Song Tien Seafood Corporation predicted that from the end of the first quarter and the beginning of the second quarter of this year, orders will start to increase, particularly for affordable products. She advised exporters to further exploit markets with high growth in the year, including those in Asia and the Middle East to improve order numbers.

Experts asserted that there will be many risks in 2023 from the Russia-Ukraine conflict and the possible occurrence of new trade tensions, affecting the supply of seafood in major markets. The situation is likely to bring both challenges and opportunities for Vietnamese seafood, especially in the US, China and the EU.

Particularly, the reopening of China after a long period of applying their “Zero COVID” policy also brings great hope for demand recovery in the market and other markets in the world when tourism and trade activities become smoother.

VASEP General Secretary Truong Dinh Hoe said that businesses expect market demand will improve and their seafood export activities will inflate again from the second quarter of 2023. In an optimistic scenario, seafood exports in 2023 may fetch 10 billion USD, he stated.

He advised local firms to ensure their financial capacity to maintain stable production and materials to meet the demand at any time, while adjusting their business development strategy to better meet requirements, legal regulations and standards of markets./.

Source: Vietnam News Agency

February 2, 2023

US initiates anti-dumping investigation on Vietnam’s gas-powered pressure washers

The US Department of Commerce (DOC) has announced the commencement of an antidumping and countervailing duty investigation on the import of gas-powered pressure washers from Vietnam, said the Ministry of Industry and Trade (MoIT).

The investigation is based on petitions filed by FNA Group, Inc., a US producer of pressure washers, with the period of investigation (POI) lasting from April 1, 2022 through September 30, 2022.

According to the MoIT, preliminary data from the US International Trade Commission (USITC) shows that in 2021, Vietnam exported about 430 million USD worth of the investigated products to the US, accounting for about 44% of the total export value from all countries to the US and increasing more than 1.5 times compared to 2020 and 25 times to 2019. The estimated dumping margin for Vietnam is 110.23 – 225.65%.

The DOC has issued a quantity and value questionnaire for Vietnamese businesses, with the response deadline falling on February 2, 2023 (firms can apply for an extension if needed).

Since the US considers Vietnam to be a non-market economy country, the DOC will use the substitution values of a third country to calculate the dumping margin for Vietnam. Indonesia is expected to be the surrogate country in the current case.

It is expected that the DOC will issue a preliminary conclusion within 140 days from the date of initiation of the investigation of the case (extendable).

The Trade Remedies Authority of Vietnam recommended that related manufacturers and exporters proactively determine an appropriate appeal strategy, diversify markets and export products, and fully cooperate with the DOC./.

Source: Vietnam News Agency

February 2, 2023

Vietnam focuses on investment, consumption, export: regular Government press conference

In February and following months, Vietnam will focus its resources on three growth drivers of investment, consumption and export, said Minister-Chairman of the Government Office Tran Van Son at the regular Cabinet press conference on February 2 following its monthly teleconference with localities.

Son said that at this conference, all Government members agreed that in the coming time, there are more difficulties and challenges than opportunities and advantages.

Therefore, Prime Minister Pham Minh Chinh asked ministries, sectors and localities to proactively address arising problems and step up three strategic breakthroughs namely institutions, infrastructure and human resources.

He requested giving priority to maintaining macro-economic stability, controlling inflation, propelling growth and ensuring major balances of the economy. “It is necessary to ensure the balanced, rational and effectively management of the exchange and interest rates as well as harmonise inflation control and growth, monetary and fiscal policies, and domestic and foreign situations,” the PM stressed.

The Government leader also stressed the importance of the adoption of a sound, flexible and effective monetary policy in close and synchronous combination with fiscal and other policies.

According to the minister, in January, the macro-economy continued to be stabilised, inflation was controlled and major balances maintained. State budget revenue increased by 12.3% compared to the estimate, and 8.1% year-on-year, and trade surplus hit 3.6 billion USD.

Total retail sales of goods and services in the month rose by 20% against 2022 and 34.2% compared to 2019./.

Source: Vietnam News Agency

February 2, 2023

Vietnam to further contribute to strengthening ASEAN solidarity: ambassador

Foreign Minister Bui Thanh Son’s attendance at the ASEAN Foreign Ministers’ Meeting Retreat (AMM Retreat) in Jakarta on February 3-4 will contribute to enhancing solidarity and consensus in the ten-member grouping, thus elevating Vietnam’s role and position in ASEAN and international forums, a Vietnamese diplomat has said.

In an interview granted to the Vietnam News Agency ahead of the AMM Retreat, Ambassador Nguyen Hai Bang, Permanent Representative of Vietnam to ASEAN, said given the current complicated circumstances, the meeting is expected to offer an opportunity for ASEAN FMs to discuss and reach consensus on the bloc’s orientations.

The ministers are expected to propose initiatives and solutions to cope with challenges in the region and the world, strengthen the bloc’s solidarity, enhance ASEAN’s centrality in the region, and facilitate recovery of the entire association and each member nation, the ambassador continued.

According to Bang, on the sidelines of the AMM Retreat, Son and his counterparts in ASEAN will pay courtesy calls to Indonesian President Joko Widodo, and hold many bilateral meetings.

Since joining ASEAN, Vietnam has proven its role as an active, responsible member that is willing to lead and contribute to building rules for the bloc, the ambassador stressed.

At the upcoming retreat, Vietnam will propose initiatives aiming to improve institutional capacity and operational efficiency of ASEAN agencies and review the implementation of the ASEAN Charter for timely adjustment and supplements, towards ensuring that ASEAN Community building efforts are made in an effective and coordinated manner across all three pillars.

Also as part of the community building framework, Vietnam will join in finalising Timor Leste’s observer status and and contributing to building a roadmap for Timor-Leste to secure the ASEAN membership, he said.

According to the ambassador, another important issue at the upcoming retreat meeting is measures to materialise the Five-Point Consensus on Myanmar, and Vietnam stands ready to engage in the process.

Other issues to be tabled for discussion include orientations to boost cooperation between ASEAN and its partners in the spirit of ensuring and promoting the centrality of ASEAN as well as mechanisms and initiatives of or led by ASEAN, including the ASEAN Outlook on the Indo-Pacific, and how to continue urging major countries to soon join the Treaty on the Southeast Asia Nuclear Weapon-Free Zone (SEANWFZ).

The present emerging international and regional issues will also be of great concern as they directly affect ASEAN, he said, noting that the task of the Vietnamese delegation is to raise initiatives in order to build a common stance, helping to ensure ASEAN solidarity and unity.

Speaking of priorities set by Indonesia as ASEAN Chair 2023 that are maintaining ASEAN’s position and consolidating its centrality in the region and the world, and comprehensively spurring economic recovery and growth, turning ASEAN into bright spot of the global economy, Bang affirmed Vietnam’s support for and readiness to contribute to these efforts this year./.

Source: Vietnam News Agency

February 2, 2023

Vietnam attends meeting of ASEAN National Tourism Organisations

A Vietnamese delegation headed by Deputy Director General of the Vietnam National Administration of Tourism (VNAT) Ha Van Sieu attended the 57th meeting of the ASEAN National Tourism Organisations (NTO) as part of the ongoing ASEAN Tourism Forum (ATF) 2023 in Indonesia.

Addressing the event, Sieu said member countries’ tourism reopening last year signified a strong recovery of the sector. Vietnam welcomed 3.5 million international visitors in 2022, with ASEAN named the country’s leading tourist market in terms of recovery speed, he added.

The official affirmed that Vietnam always welcomes proposals from ASEAN member states to learn, share and explore the potential for further cooperation in the field of festival tourism.

In the second half of this year, Vietnam plans to organise a regional conference on festival tourism, he unveiled.

The conference focused on reviewing reports of the bloc’s four tourism cooperation committees, and approving a number of documents including the final drafts of standards and toolkit for the MICE (Meetings, incentives, conferences and exhibitions) and event organisation professions, among others.

Participants also discussed preparations for a series of functions such as the 26th ASEAN Tourism Ministers’ Meeting; the 42nd ASEAN 3 NTO meeting; and the 22nd ASEAN 3 Tourism Ministers’ Meeting./.

Source: Vietnam News Agency