Day: June 25, 2023

The US Navy’s aircraft carrier USS Ronald Reagan, together with two guided missile cruisers USS Antietam - CG 54 and USS Robert Smalls - CG 62, arrived in the central city of Da Nang on June 25, marking the third time a US aircraft carrier has visited Vietnam since 2018.

The visit is among activities to mark the 10th year anniversary of the US-Vietnam Comprehensive Partnership (2013-2023), showcasing their shared commitment to a prosperous and secure future.

Ho Ky Minh, Vice Chairman of the municipal People's Committee of Da Nang, chaired a welcome ceremony for the US delegation.

During the five-day visit to the city, the US Navy Convoy Command Group will pay a courtesy visit to leaders of the municipal People's Committee and the leaders of the Third Naval Region Command.

The officers and crew on the US ships will join cultural and professional exchanges, community service projects, sports competitions, and humanitarian activities.

The visit is expected to contribute to reinforcing Vietnam and the US’s partnership while affirming Vietnam's ability to ensure logistics and technology in welcoming foreign vessels to the country./.

Source: Vietnam News Agency

Singapore’s consumer prices declined in May due to a fall in food and retail inflation, according to reports released by the country’s Monetary Authority (MAS) and the Ministry of Trade and Industry (MTI) on June 23.

Notably, core inflation in May dropped to 4.7%, the first time they fell below the 5% mark since July 2022, and lower than the 5% recorded in April.

Meanwhile, the headline consumer price index (CPI) in May picked up by 5.1% year-on-year, down from the 5.7% increase recorded a month earlier, which has largely reflected a decline in private transport prices and core inflation./.

Source: Vietnam News Agency

A memorial ceremony and a reburial service were held in the northern province of Yen Bai June 25 for Lo Van Noi, a Vietnamese volunteer soldier who laid down his life in Laos during war time.

Colonel Han Van Hung, head of the search team for war martyrs' remains under the Political Department of Military Region 2 said that as of early May this year, the team found the remains of four soldiers in Luang Prabang province. Among them, Noi is the only soldier to be identified.

Provincial officials attended the ceremony and offered incense and flowers to express gratitude for the deceased./.

Source: Vietnam News Agency

With a 116km-long coastline and forest coverage rate of 68%, Quang Binh boasts full conditions to become a major tourist destination of Vietnam and Southeast Asia, said Deputy Prime Minister Le Minh Khai at a conference in Hanoi on June 25 to announce the master plan of Quang Binh and promote investment in the central province.

Hailing the locality's efforts and achievements in socio-economic development, Deputy PM Khai underlined the significance of the master plan in shaping the development vision, scenarios, plans and spaces for the locality.

Quang Binh is a safe and unique destination along with a synchronous transport system of roads, airports and railways, he said.

It is home to Phong Nha-Ke Bang National Park, which has been twice recognised as a World Natural Heritage Site, as well as a system of caves, including Son Doong - the largest cave in the world, along with various beautiful beaches, hot streams and world-class golf courses, making it an ideal place for resort tourism, Deputy PM Khai underlined.

He held that in order to successfully realise its set targets, especially amid difficulties and complicated domestic and world situations, Quang Binh should focus on turning tourism into its spearhead economic sector, and rising to a tourism hub of the country and the region.

Along with defining an extensive and in-depth vision for tourism development, Quang Binh should improve locals' awareness of tourism and further improve tourism promotion, he said.

He advised the locality to develop more unique and typical tourism products and provide more professional tourism services, while encouraging all people to engage in developing local tourism.

Alongside, Quang Binh should continue to scrutinise its administrative system and enhance the quality of public servants, he said.

Deputy PM Khai called for businesses to continue studying investment opportunities in Quang Binh and promptly implement their investment projects according to the signed agreement.

The Government always gives optimal conditions to and accompanies with the administration and people of Quang Binh to speed up the growth process, he pledged./.

Source: Vietnam News Agency

The Malaysian ringgit (RM) depreciated for a fifth straight session to slump to a more than seven-month low on June 23 due to a firmer dollar and weak oil prices.

Most other Asian currencies also weakened, with the Republic of Korean won (KRW) and Thai baht (THB) depreciating 0.6% and 0.4%, respectively.

Fiona Lim, senior foreign exchange strategist at Maybank said that Asian currencies are cyclical and they might be weighed by fears that further tightening by central banks could bring about more significant downturn ahead.

In Malaysia, the RM depreciated as much as 0.6% to hit 4.674 per dollar, its lowest level since November 11.

Elsewhere, the Indonesian rupiah was trading 0.4% lower, a day after the central bank kept its policy rate unchanged, as expected, adding it would calibrate rate cut decisions every month.

Rully A. Wisnubroto, senior economist at Mirae Asset Sekuritas Indonesia said these depreciations, particularly for the RM and the Indonesian rupiah (IDR), were due to the recent decline in commodity prices, which has had a substantial impact on economies reliant on commodity export.

For the week, the RM and the THB shed nearly 1.3% and1.6%, respectively, while the IDR was down 0.4%.

Meanwhile, inflation data from Singapore showed a key consumer price gauge rose 4.7% in May, while headline inflation

was up 5.1% year-on-year in May. The Singapore dollar (SGD) was down 0.4%./.

Source: Vietnam News Agency