Tan Vu-Lach Huyen Highway officially open for traffic

Tanzania is the second-largest economy in the East African Community, the leading regional economic trade region, and boasts one of most stable governments on the entire continent, said Ngo Khai Hoan, at a recent seminar in Hanoi. Mr Hoan, who is the deputy general director of the Africa, West Asia, South Asia Markets, noted that Tanzania is best known for its vibrant tourism industry (Mount Kilimanjaro, Serengeti National Park, Zanzibar), In addition, he added, Tanzania has significant mineral wealth and is home to the Port of Dar es Salaam, one of the major ports in the EAC. Despite the country’s stability, Tanzania ranked only 139th in the World Bank 2016 Ease of Doing Business Rankings, below Vietnam (82nd) and other countries in the EAC such as Rwanda (62nd), Kenya (108th), and Uganda (122nd). Given that the Port of Dar es Salaam handles cargo coming from several landlocked countries in East Africa and beyond (Rwanda, Burundi, Malawi, Zambia, and the Democratic Republic of the Congo), improving trade infrastructure in Tanzania is critical for the success of both it and the region. The economy of Tanzania is among the fastest in the developing world having experienced annual GDP growth of over 7%, which has outpaced that of Vietnam over the past decade, according to reports by the African Development Bank and the International Monetary Fund. Primarily because of lack of trade and investment promotion efforts undertaken over the past several years,…... [read more]

VietNamNet Bridge – Prime Minister Nguyen Xuan Phuc’s visit to Thailand was fruitful, with the two PMs discussing frankly cooperation in both bilateral and multilateral frameworks, stated Deputy Foreign Minister Dang Dinh Quy. Prime Minister Nguyen Xuan Phuc (L) welcomed by his Thai counterpart Prayuth Chan-o-cha (Photo: VNA) During the visit from August 17-19, PM Phuc and his Thai counterpart Prayuth Chan-o-cha sought collaboration measures to build the ASEAN Community and maintain the association’s central role on the occasion of ASEAN’s 50th founding anniversary, as well as ways to strengthen bilateral cooperation within sub-regional programmes and projects. The two sides discussed long-lasting issues such as how to minimise conflicts at sea, illegal fishing and smuggling on each other’s waters, and illegal Vietnamese workers in Thailand. They agreed to accelerate negotiations on an agreement on criminal extradition and a treaty on mutual legal assistance, as well as the expansion of the treaty on labour as Thailand has high demand for labourers while Vietnam has a large supply. At the same time, the two PMs decided to set up mechanisms to settle existing problems with these incomplete agreements, thus avoiding further issues, said Deputy FM Quy. PM Phuc was also keen to boost economic partnerships with Thailand to balance trade and increase investment, especially in tourism, as the number of Thai tourists to Vietnam is one fourth of Vietnamese visitors to Thailand. The Government leader also met with businesses of both countries. During the visit, he attended the signing of dozens of…... [read more]

Prime Minister Nguyen Xuan Phuc (L) welcomed by his Thai counterpart Prayuth Chan-o-cha (Photo: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc’s visit to Thailand was fruitful, with the two PMs discussing frankly cooperation in both bilateral and multilateral frameworks, stated Deputy Foreign Minister Dang Dinh Quy. During the visit from August 17-19, PM Phuc and his Thai counterpart Prayuth Chan-o-cha sought collaboration measures to build the ASEAN Community and maintain the association’s central role on the occasion of ASEAN’s 50th founding anniversary, as well as ways to strengthen bilateral cooperation within sub-regional programmes and projects. The two sides discussed long-lasting issues such as how to minimise conflicts at sea, illegal fishing and smuggling on each other’s waters, and illegal Vietnamese workers in Thailand. They agreed to accelerate negotiations on an agreement on criminal extradition and a treaty on mutual legal assistance, as well as the expansion of the treaty on labour as Thailand has high demand for labourers while Vietnam has a large supply. At the same time, the two PMs decided to set up mechanisms to settle existing problems with these incomplete agreements, thus avoiding further issues, said Deputy FM Quy. PM Phuc was also keen to boost economic partnerships with Thailand to balance trade and increase investment, especially in tourism, as the number of Thai tourists to Vietnam is one fourth of Vietnamese visitors to Thailand. The Government leader also met with businesses of both countries. During the visit, he…... [read more]

NDO/VNA – Officials from the member economies of the Asia-Pacific Economic Cooperation (APEC) forum have highlighted the benefits of establishing competition chapters in free trade agreements (FTAs) and Economic Partnership Agreements (EPAs). They gathered at a workshop on FTA Negotiation Skills on Competition of the Committee on Trade and Investment (CTI), which took place in Ho Chi Minh City on August 19, as part of the third APEC Officials Meeting (SOM 3). CTI Chairwoman Marie Sherylyn Aquia stated in her opening remarks that there is a strong relationship between trade and competition policies due to their similarities in objectives. Both trade and competition policies seek to enhance welfare by providing for a more efficient allocation of resources, whether in lowering trade barriers or through promoting competition, she said. The official noted that new, comprehensive economic or trade agreements now feature specific provisions or entire chapters on competition-related matters and that currently, work to negotiate competition policy happens more frequently in regional and bilateral settings. There is a growing recognition that provisions on competition in trade agreements improve competition policies and foster and improve the efficiency of competition in markets, including benefiting consumers and businesses, she said. Toru Ishiguro, from Japan’s Fair Trade Commission, said competition articles in EPAs make enforcement cooperation between competition authorities easier. Through the dialogue in the negotiation for the competition chapter, each agency builds mutual understanding and trust, which leads to a shared awareness of sound enforcement activities, said Ishiguro. …... [read more]

NDO/VNA – Officials from the member economies of the Asia-Pacific Economic Cooperation (APEC) forum have highlighted the benefits of establishing competition chapters in free trade agreements (FTAs) and Economic Partnership Agreements (EPAs). They gathered at a workshop on FTA Negotiation Skills on Competition of the Committee on Trade and Investment (CTI), which took place in Ho Chi Minh City on August 19, as part of the third APEC Officials Meeting (SOM 3). CTI Chairwoman Marie Sherylyn Aquia stated in her opening remarks that there is a strong relationship between trade and competition policies due to their similarities in objectives. Both trade and competition policies seek to enhance welfare by providing for a more efficient allocation of resources, whether in lowering trade barriers or through promoting competition, she said. The official noted that new, comprehensive economic or trade agreements now feature specific provisions or entire chapters on competition-related matters and that currently, work to negotiate competition policy happens more frequently in regional and bilateral settings. There is a growing recognition that provisions on competition in trade agreements improve competition policies and foster and improve the efficiency of competition in markets, including benefiting consumers and businesses, she said. Toru Ishiguro, from Japan’s Fair Trade Commission, said competition articles in EPAs make enforcement cooperation between competition authorities easier. Through the dialogue in the negotiation for the competition chapter, each agency builds mutual understanding and trust, which leads to a shared awareness of sound enforcement activities, said Ishiguro. …... [read more]

ASEAN is the world's sixth largest economy. Photo: asean.org PM Razak said ASEAN member nations have maintained friendly ties and made decisions based on the spirit of consensus and respect for sovereignty of each country. The ASEAN nations have united together but have not interfered in each other’s internal affairs, he stated, adding that the bloc is now recognized as a primary driving force in the regional political, security and economic architecture, under which major powers negotiate and discuss important issues through the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS). The Malaysian PM went on to say that ASEAN is leading and driving forward the Regional Comprehensive Economic Partnership (RCEP), which would bring new opportunities to nearly half of the world’s population and presents 30 percent of the global Gross Domestic Product (GDP). With a combined GDP of USD 2.6 trillion, ASEAN is the world's sixth largest economy, and is projected to become the fourth largest economy in the world by 2030 at the latest, with some estimating the region will reach that position by 2030, he noted. Mentioning the ASEAN Community, PM Razak said ASEAN works towards a community that is politically cohesive, economically integrated and socially responsible and that the key to a people-centered community is putting the citizens at the heart of ASEAN. He stressed that all ASEAN members must strive to make the Southeast Asian region more relevant to its people and make people think…... [read more]

Malaysia's Prime Minister Najib Razak (Photo: Southeast Asia Globe) Kuala Lumpur (VNA) – The operation method of the Association of Southeast Asian Nations (ASEAN) has brought stability and prosperity to the entire region, said Malaysian Prime Minister Najib Razak at a ceremony in Kuala Lumpur on August 14 to celebrate the bloc’s 50th founding anniversary. PM Razak said ASEAN member nations have maintained friendly ties and mad decisions based on the spirit of consensus and respect for sovereignty of each country. The ASEAN nations have united together but have not interfered in each other’s internal affairs, he stated, adding that the bloc is now recognised as a primary driving force in the regional political, security and economic architecture, under which major powers negotiate and discuss important issues through the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS). The Malaysian PM went on to say that ASEAN is leading and driving forward the Regional Comprehensive Economic Partnership (RCEP), which would bring new opportunities to nearly half of the world’s population and presents 30 percent of the global Gross Domestic Product (GDP). With a combined GDP of 2.6 trillion USD, ASEAN is the world's sixth largest economy, and is projected to become the fourth largest economy in the world by 2030 at the latest, with some estimating the region will reach that position by 2030, he noted. Mentioning the ASEAN Community, PM Razak said ASEAN works towards a community that is politically cohesive, economically…... [read more]

VNA General Director Nguyen Duc Loi (R) shakes hands with Montsame General Director Ganchimeg Badamdorj (Photo: VNA) Hanoi​ (VNA) – The Vietnam News Agency (VNA) and the Montsame News Agency of Mongolia signed a new cooperation agreement on August 15 to tighten their profession links in the digital era. Accordingly, the two agencies will maintain the exchange of text news and photos with captions in English and increase the sharing of news videos, especially documentaries on the land and people of Vietnam and Mongolia and investment and business opportunities in each nation. They pledged to maintain annual exchanges of reporters and continue to support each other at regional and international press forums participated by both sides, particularly within the framework of the Organisation of Asia-Pacific News Agencies (OANA). Speaking at the talks in Hanoi, VNA General Director Nguyen Duc Loi noted the agencies’ implementation of the 2001 protocol on specialised cooperation, which, as he said, has yet tapped bilateral cooperation potential, urging the two sides to strengthen their ties in the time ahead. Regarding APEC Vietnam 2017, he said the VNA is ready to provide information about this event for Montsame, and it hopes that the Mongolian news agency will step up the promotion of this event on its communication channels. Congratulating the VNA on its recent achievements, Montsame General Director Ganchimeg Badamdorj also expressed her wish to reinforce cooperation between the two sides. Both general directors shared the view that the …... [read more]

NDO/VNA – The Vietnam News Agency (VNA) and the Montsame News Agency of Mongolia signed a new cooperation agreement on August 15 to tighten their professional links in the digital era. Accordingly, the two agencies will maintain the exchange of text news and photos with captions in English and increase the sharing of news videos, especially documentaries concerning the land and people of Vietnam and Mongolia. The documentaries will also include information on investment and business opportunities in each nation. They pledged to maintain annual exchanges of reporters and also committed to continue supporting each other at regional and international press forums, particularly within the framework of the Organisation of Asia-Pacific News Agencies (OANA). Speaking at the talks in Hanoi, VNA General Director Nguyen Duc Loi noted the agencies’ implementation of the 2001 protocol on specialised cooperation, which, as he stated, has yet to tap into the bilateral cooperation potential, urging the two sides to strengthen their ties in the time ahead. Regarding APEC Vietnam 2017, he commented that the VNA is ready to provide information about this event for Montsame, and it hopes that the Mongolian news agency will step up the promotion of this event on its communication channels. Congratulating the VNA on its recent achievements, Montsame General Director Ganchimeg Badamdorj also expressed her wish to reinforce the cooperation between the two sides. Both general directors shared the view that the VNA and Montsame need to boost exchanging information about their countries’ economy,…... [read more]

HCM City, August 9 (VNA) – Businesses should cooperate closely with the Government to usher in a second export wave of products with higher added-value and promotion of brands, participants at a seminar in HMC City said on August 8.  According to Nguyen Phu Hoa, deputy head of the Ministry of Industry and Trade’s Import and Export Department, the second wave is crucial given the world has entered the tech-based Fourth Industrial Revolution that is tranforming society, services and trade.  For example, in Japan and the US, humans are working with robots while China is targeting more modern production similar to the Republic of Korea’s and Japan’s.  Vietnam’s first export wave, in which businesses exported raw material, is over.  The seminar pointed out that certain foundations would need to be established to successfully develop the second wave.  The first is setting up a system to share know-how innovated with the support of the Government, according to participants.  This kind of sharing will enable companies to access new technologies, talents and scientists.  Thus, all research outcomes must be shared and published so that they could be applied.  The second requirement is creating trust and confidence since now many consumers doubt the origin and quality of goods.  Thirdly, a competitive infrastructure needs to be developed.  Hoa said one huge thrust would be needed to upgrade roads, bridges, ports, and logistics facilities to serve production and exports.  "But exports cannot…... [read more]




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