Lao ministry hosts talk with students about Vietnam-Laos ties

“Strong manufacturing and FDI, an improving construction sector, and robust domestic demand continue to underpin activity [in Vietnam],” Mr. Ranil Salgado, Assistant Director, Asia and Pacific Department at the International Monetary Fund (IMF), told the recent launch of its World Economic Outlook (WEO) Update in Kuala Lumpur, Malaysia. He added that the country’s headline inflation reached 5 per cent year-on-year in late 2016 - early 2017, reflecting rises in health and education cost, and had fallen close to the 4 per cent target by June this year. The IMF forecasts that Vietnam’s growth will be 6.3 per cent in 2017 and the same in 2018. Higher long-term growth would require more forceful reforms to create a level playing field for the private sector, upgrade the country’s institutions, and reorient its growth model, to be led by the private sector, before rapid aging sets in, according to the IMF. IMF Directors recently welcomed ongoing structural reforms and underscored that Vietnam will need to build a sustainable, modern economy before the demographic tailwinds fade.  For this, more extensive policy action is needed to reform institutions and raise potential growth.  Reforms of State-owned enterprises and improved outcomes from vocational and tertiary education will also be critical.  Directors commended authorities for ratifying the Paris Agreement and for putting climate change and the implementation of the Sustainable Development Goals at the core of their policy agenda.  They stressed that higher environmental taxes and better pricing of externalities in the energy sector can help promote a…... [read more]

Speaker of the Parliament of Bangladesh Shirin Sharmin Chaudhury left Hanoi on July 24, successfully concluding her five-day official visit to Vietnam at the invitation of National Assembly Chairwoman Nguyen Thi Kim Ngan. National Assembly Chairwoman Nguyen Thi Kim Ngan (L) welcomes Speaker of the Parliament of Bangladesh Shirin Sharmin Chaudhury During her stay, she held talks with NA Chairwoman Ngan, and paid courtesy visits to Party General Secretary Nguyen Phu Trong and President Tran Dai Quang. She also paid tribute to late President Ho Chi Minh at his mausoleum, and laid wreaths at the Monument to War Heroes and Martyrs. At the talks and meetings, both sides agreed that the two countries’ traditional friendship and multifaceted cooperation have developed continually since they set up their diplomatic ties 44 years ago.  The political relations between the two countries have been tightened through visits and meetings.  The two countries have always supported each other in their nation building and safeguarding and economic development, and coordinated closely at regional and international forums. Both sides also reached a consensus that Vietnam and Bangladesh should intensify experience sharing, help each other in gender equality and poverty reduction, and cooperate in the fields of defence, aquaculture, education-training, culture and tourism. To achieve the goal of 1 billion USD in two-way trade, the two countries will intensify trade and investment promotion, and create favourable conditions for businesses to take part in fairs and exhibitions held in each country. Regarding the two legislatures’ relations, they agreed to…... [read more]

An officer was checking the votes after the election in Dili on July 22 (Photo: EPA/VNA)    Hanoi (VNA) – The Revolutionary Front for an Independent Timor Leste (FRETILIN) has won the Southeast Asian country’s parliamentary election but appears unlikely to claim the absolute majority required to govern outright, according to the vote result announced on July 24. With all 567,964 valid votes, FRETILIN, which won 29.65 percent of the total votes, is expected to get 19-20 seats in the 65-seat parliament, short of the 33 seats needed to control the unicameral parliament outright. FRETILIN, the main party in the country, can form a coalition with its chief rival, the National Congress for East Timorese Reconstruction party (CNRT), which gained 29.46 percent of the votes and get around the same number of seats as FRETILIN. Meanwhile, the newly-established Popular Liberation Party, led by former President Taur Matan Ruak captured 10.58 percent of total votes and the Democratic Party obtained 9.79 percent. Both of them are likely to get 6 and 7 seats, respectively. As many as 21 political parties contested in the election, in which they must win at least 33 seats to become a major party in the country’s legislative body.   [Timor Leste: FRETILIN dominates parliamentary election] After 15 years of independence, Timor Leste still faces a series of economic challenges, including high unemployment rate. The election took place in the context that young voters have become more pessimistic about the country’s economic…... [read more]

National Assembly Chairwoman Nguyen Thi Kim Ngan (L) welcomes Speaker of the Parliament of Bangladesh Shirin Sharmin Chaudhury (Source: VNA) Hanoi (VNA) - Speaker of the Parliament of Bangladesh Shirin Sharmin Chaudhury left Hanoi on July 24, successfully concluding her five-day official visit to Vietnam at the invitation of National Assembly Chairwoman Nguyen Thi Kim Ngan. During her stay, she held talks with NA Chairwoman Ngan, and paid courtesy visits to Party General Secretary Nguyen Phu Trong and President Tran Dai Quang. She also paid tribute to late President Ho Chi Minh at his mausoleum, and laid wreaths at the Monument to War Heroes and Martyrs. At the talks and meetings, both sides agreed that the two countries’ traditional friendship and multifaceted cooperation have developed continually since they set up their diplomatic ties 44 years ago.   [Vietnamese NA backs enhanced cooperation with Bangladesh] The political relations between the two countries have been tightened through visits and meetings. The two countries have always supported each other in their nation building and safeguarding and economic development, and coordinated closely at regional and international forums. Both sides also reached a consensus that Vietnam and Bangladesh should intensify experience sharing, help each other in gender equality and poverty reduction, and cooperate in the fields of defence, aquaculture, education-training, culture and tourism. To achieve the goal of 1 billion USD in two-way trade, the two countries will intensify trade and investment promotion, and…... [read more]

ASEAN Secretary General Le Luong Minh (Source: VNA)   Jakarta (VNA) – Norway commits to enhancing and deepening cooperation with the Association of Southeast Asian Nations (ASEAN) as well as its member countries. The message was conveyed by new Ambassador of Norway to ASEAN Morten Hoglund while presenting his credentials to ASEAN General Secretary Le Luong Minh at the ASEAN headquarters in Jakarta, Indonesia, on July 21. The ambassador praised ASEAN’s important role in maintaining peace, security and stability, and spurring economic growth in the region. ASEAN General Secretary Minh said Norway is the first sectoral dialogue partner of ASEAN to appoint its ambassador to the association, demonstrating the country’s commitment to strengthening its collaboration with the ten-member group. The same day, the second meeting of the ASEAN-Norway Joint Sectoral Cooperation Committee (AN-JSCC) was held under the chair of ASEAN Deputy Secretary-General for the ASEAN Political-Security Community Hirubalan V P and Ambassador Hoglund. During the meeting, the two sides reiterated their commitment to intensifying and deepening their bilateral cooperation. The meeting approved a priority plan for the ASEAN-Norway sectoral partnership – the foundation of comprehensive cooperation between the two sides. Currently, their affiliation in peace, reconciliation, navigation, energy and connectivity, and the initiative for ASEAN integration (IAI) have been unified. Other priority cooperation areas include trade and investment development, covering macro, small and medium-sized enterprises, climate change combat, people-to-people exchange, along with educational…... [read more]

ASEAN enjoys half century of dynamic, comprehensive development (Source: asean.org) Hanoi (VNA) – After 50 years of development, the Association of Southeast Asian Nations (ASEAN) has been internationally recognised as a comprehensive regional cooperative organisation and a cohesive and dynamic political-economic entity that contributes to global connectivity. The association has an important role and position in the Southeast Asian and Asian-Pacific regions with profound political, economic, cultural and social influences.  A spirit of solidarity, consensus and mutual support and respect, along with harmonious combination of national and community interests have helped enhance the association’s position. Over the past half century, ASEAN has proved itself a leading factor in ensuring a peaceful environment, security and cooperation for regional development, illustrated through the bloc’s efforts to cooperate in politics and security and build codes of conduct to increase mutual understanding and prevent conflicts in the region. ASEAN has also established collaboration with important partners in the world, while initiating and playing a key role in several regional cooperation frameworks, especially the ASEAN Regional Forum (ARF) – the only mechanism for dialogues and cooperation in political and security matters in Asia-Pacific. The association has created favourable conditions for important partners outside Southeast Asia to contribute to the settlement of common security challenges, helping reinforce peace and security in the region.   [Sport event celebrates ASEAN’s founding anniversary] More countries around the world have shown interest in Southeast Asia. The Treaty of Amity and Cooperation initiated by …... [read more]

NDO/VNA – The Lao Ministry of Education and Sports hosted a talk with students from various schools and the National University of Laos on the special ties between Laos and Vietnam on July 24. The event was meant to celebrate the 40th anniversary of the signing of Treaty of Amity and Cooperation and the 55th anniversary of bilateral diplomatic ties. Speaking at the event, former Lao Deputy Prime Minister SomsavatLengsavath reviewed milestones in bilateral ties and support that Vietnam has provided for Laos in the fields of politics, education, economy, transport, national defence and security. He lauded the Treaty of Amity and Cooperation for bringing benefits to Laos, helping the country stay on track in pursuit of stability and development. The former leader asked students and lecturers to bear in mind the tradition of special ties between Laos and Vietnam while continuing to foster the bilateral relationship. Lao Deputy Minister of Education and Sports KongsySengmany said the special relationship shared between both countries has been a decisive factor for invictory of the two countries’ revolutions and a foundation for their strong development at present. In an interview granted to Vietnam News Agency correspondents in Laos, Sengmany said over the past years, the Lao and Vietnamese Party and government have worked to enhance the tradition of bilateral special ties among Party members and people from all walks of life, particularly among younger generations. In the near future, the Lao Ministry of Education and Sports will continue partnering with educational establishments nationwide…... [read more]

NDO/VNA – The Lao Ministry of Education and Sports hosted a talk with students from various schools and the National University of Laos on the special ties between Laos and Vietnam on July 24. The event was meant to celebrate the 40th anniversary of the signing of Treaty of Amity and Cooperation and the 55th anniversary of bilateral diplomatic ties. Speaking at the event, former Lao Deputy Prime Minister SomsavatLengsavath reviewed milestones in bilateral ties and support that Vietnam has provided for Laos in the fields of politics, education, economy, transport, national defence and security. He lauded the Treaty of Amity and Cooperation for bringing benefits to Laos, helping the country stay on track in pursuit of stability and development. The former leader asked students and lecturers to bear in mind the tradition of special ties between Laos and Vietnam while continuing to foster the bilateral relationship. Lao Deputy Minister of Education and Sports KongsySengmany said the special relationship shared between both countries has been a decisive factor for invictory of the two countries’ revolutions and a foundation for their strong development at present. In an interview granted to Vietnam News Agency correspondents in Laos, Sengmany said over the past years, the Lao and Vietnamese Party and government have worked to enhance the tradition of bilateral special ties among Party members and people from all walks of life, particularly among younger generations. In the near future, the Lao Ministry of Education and Sports will continue partnering with educational establishments nationwide…... [read more]

The “Profile of International Activity in US Residential Real Estate” report published by the National Association of Realtors in June 2017 showed that foreign buyers spent a total of $153 billion on purchasing residential property in the US between April 2016 and March 2017. Foreign buyers purchased a total of 284,455 residential properties in the US, an increase of 32.4 per cent from the previous year. The number of units purchased made up 5 per cent of existing home sales. According to the report, the average purchase price of foreign buyers in 2017 was $536,852, up 12 per cent from 2016. The median purchase price of foreign buyers was $302,290 in 2017, up 9 per cent. For the first time since 2007, Vietnamese buyers reached 2 per cent of the total purchases, equal to approximately 5,689 properties. This put Vietnam on the list of the top ten foreign buyers of residential properties in the US, replacing Russia in the ninth place. Based on the figures in the report, it is estimated that Vietnamese people spent between $1.7-3 billion on US residential properties during the period. In a news release on the NAR website, chief economist Lawrence Yun, said, “The political and economic uncertainty both here and abroad did not deter foreigners from exponentially ramping up their purchases of US property over the past year. While the strengthening of the US dollar in relation to other currencies and steadfast home-price growth made buying a home more expensive in many areas, foreigners…... [read more]

NDO/VNA - Speaker of the Parliament of Bangladesh Shirin Sharmin Chaudhury left Hanoi on July 24, successfully concluding her five-day official visit to Vietnam, made at the invitation of National Assembly Chairwoman, Nguyen Thi Kim Ngan. During her stay, she held talks with NA Chairwoman Ngan, and paid courtesy visits to Party General Secretary Nguyen Phu Trong and President Tran Dai Quang. She also paid tribute to late President Ho Chi Minh at his mausoleum and laid wreaths at the Monument to War Heroes and Martyrs. During her discussions, both sides agreed that the two countries’ traditional friendship and multifaceted cooperation have developed continuously since they first established their diplomatic ties 44 years ago. The political relations between the two countries have been tightened through regular visits and meetings. The two countries have always supported each other in their national building and safeguarding and economic development, as well as closely coordinating at regional and international forums. Both sides also reached a consensus that Vietnam and Bangladesh should intensify experience sharing, to help each other in gender equality and poverty reduction, and to cooperate in the fields of defence, aquaculture, education-training, culture and tourism. To achieve the goal of US$1 billion in two-way trade, the two countries will intensify trade and investment promotion, whilst creating favourable conditions for businesses to take part in fairs and exhibitions held in each country. Regarding the two legislatures’ relations, they agreed to maintain high-level delegation exchanges to share…... [read more]




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