Vietnam News Today (Apr. 4): FM Begins China Visit to Concretize Comprehensive Strategic Partnership

Vietnamese Ambassador to France Dinh Toan Thang (left) and Mayor of Nevers Denis Thuriot (Photo: VNA)

France’s Nevers city looks to enhance cooperation with Vietnamese localities

Vietnamese Ambassador to France Dinh Toan Thang paid a working visit to Nevers city of Nièvre province in the Bourgogne-Franche-Comté region from April 1-2, as part of activities to enhance cooperation between Vietnamese and French localities.

At a reception for the ambassador and his entourage, Mayor of Nevers Denis Thuriot briefed the guests on the city’s advantages and potential in porcelain and mechanical industries as well digital technology and innovation to overcome challenges and create conditions for sustainable development.

He also highlighted opportunities for enhancing cooperation with Vietnam, especially in industrial development and health care, expressing his hope for stronger collaboration in the areas of Vietnam’s interests and Nevers’ strengths, cited VNA.

For his part, Thang praised the cooperation between Uong Bi hospital in Vietnam's northern province of Quang Ninh and Pierre Beregovoy hospital in Nevers, under which the exchange of doctors for training has been carried out for many years as well as contributions of doctors of Vietnamese origin.

The ambassador suggested multiplying this cooperation model and expand partnership in other areas of Nevers’s strengths such as mechanical industry, engineer training and digital transformation.

During his trip, the ambassador held working sessions with the Chamber of Commerce and Industry of Nièvre province and met with mechanical and engine manufacturing enterprises serving the automobile industry; visited the Pierre Beregovoy hospital and the Institute of Automotive and Transport Engineering (ISAT), which specialises in engineering training for public transport.

FM begins China visit to concretize comprehensive strategic partnership

Foreign Minister Bui Thanh Son began a two-day official visit to China on April 3 at the invitation of his Chinese counterpart Wang Yi to further boost the comprehensive strategic cooperative partnership between the two countries.

The visit is of great significance as it demonstrates the importance both countries attach to bilateral friendly relations. It also affirms Vietnam’s consistent foreign policy, with top priority to be given to fostering relations with neighboring countries, including China.

The visit gives the two sides an opportunity to identify orientations for bilateral cooperation in future in 2024 and beyond. It also helps to promote the implementation of cooperation agreements between the two countries’ Ministries of Foreign Affairs.

The Vietnam - China comprehensive strategic cooperative partnership has developed positively in recent times, reaping many important results, according to VOV.

Foreign Minister Bui Thanh Son welcomes Chinese Foreign Minister Wang Yi during the latter's visit to Hanoi in September 2021.

Top leaders of the two Parties and countries maintain regular exchanges and contacts, including the visit of General Secretary Nguyen Phu Trong to China in October 2022 and the state visit to Vietnam of General Secretary and President Xi Jinping in December 2023, helping to strengthen political trust.

The two countries last year released a joint leaders’ statement on continuing to deepen and elevate the comprehensive strategic cooperative partnership to build a Vietnam-China community with a shared future.

Economic-trade-investment cooperation is a major pillar in bilateral relations, with two-way trade turnover hitting US$171.9 billion last year.

Chinese investment in Vietnam last year rose more than 77% to US$4.47 billion from more than 700 projects. China is the fourth largest investor in Vietnam in terms of capital and the largest in number of projects.

Vietnam’s macro-economic achievements recognized at international workshop

Vietnam’s macro-economic achievements were applauded at an international workshop co-organised by the International Monetary Fund (IMF) and the State Bank of Laos on April 3 in Luang Prabang.

The workshop discussing measures to overcome headwinds of the global economy saw the participation of bank governors from Laos, Malaysia, Thailand and Vietnam; the Deputy Managing Director of IMF; the Chief Representative of International Financial Corporation (IFC) office in Laos; representatives of central banks and finance ministries of ASEAN countries, international organisations, and financial institutions in the region.

Governor of the State Bank of Vietnam Nguyen Thi Hong led the Vietnamese delegation to the event.

As a main speaker at the workshop, Hong shared the positive results of Vietnam’s economic restructuring model in recent years from agriculture to industry and services. During this process, the SBV's monetary and credit management has actively contributed to the country’s macroeconomic stability, creating a solid foundation for sustainable development and promoting industrialisation.

In addition, Vietnam's banking industry is also promoting national digital transformation and proactively deploying practical actions to respond to climate change, she said, adding that it ranks higher than those in other Asian countries in implementing a number of important contents of the Paris Agreement.

Participants at the workshop praised Vietnam's macroeconomic achievements in recent years, saying that Vietnam contributes to making ASEAN a bright spot of regional and global growth, reported VNA.

Governor of the State Bank of Vietnam Nguyen Thi Hong (second, left ) speaks at the event. (Photo: VNA)

The workshop, which took place on the sideline of the ASEAN Finance Ministers and Central Bank Governors’ Meetings 2024, provided participants with an opportunity to discuss long-term development trends in the world and how to take advantage of opportunities that the trends can bring to boost economic growth.

According to the IMF, in contrast to projected slowdown of the global economy and the risk of recession, the Asia-Pacific region continues to maintain a solid outlook, expected to contribute about two thirds of the global economic growth in 2024. In particular, ASEAN, a typical model of economic integration and cooperation, is increasingly becoming a dynamic economic region that is expected to contribute about 10% of GDP globally this year.

Within the framework of the workshop, leaders of central banks and representatives of the IMF and IFC discussed long-term development trends in the world, from economic restructuring, demographic changes, climate change adaptation, technology development, artificial intelligence and green transition to the operation of the ASEAN economy in general, and financial markets and the monetary policy management of central banks in particular.

Vietnam sticks to 6.5% economic growth target, says PM

The government will strive to meet and exceed major socio-economic development targets set for this year, with the GDP growth rate anticipated to rise to 6.5%, said Prime Minister Pham Minh Chinh after discussing and considering arguments at a monthly Government meeting in Hanoi on April 3.

A greater effort is needed to realize the targets, with a primary focus on ironing out snags, boosting production and business activities, and creating and improving people’s livelihoods, stressed the PM at the meeting that was attended by deputy prime ministers, ministers, and leaders of localities, among others.

He requested ministries, sectors and localities to keep a close watch on domestic and international developments, improve analysis and forecasting capacity, effectively mobilize and use all resources, promote decentralization, and improve enforcement capacity, alongside enhancing inspection and supervision, cited VOV.

Prime Minister Pham Minh Chinh speaks at the meeting.

In all circumstances, Vietnam must ensure socio-political stability, strengthen national defense and security, foster foreign affairs and international integration, and step up communications to create social consensus, said the Government leader.

In an earlier report, Minister of Planning and Investment Nguyen Chi Dung presented two scenarios for the national economy in 2024. Accordingly, the economy would grow by 6% in the first scenario and 6.5% in the other one. He proposed that the government stick to the second scenario thanks to positive gains Vietnam recorded in the first quarter, as well as positive signs in the world.

Vietnam secured 5.66% growth in the first quarter, the highest compared to the same period from 2020 to 2023. It maintained macroeconomic stability, with inflation kept in check and major economic balances guaranteed. The country earned US$93 billion from exports (up 17%) and spent US$85 billion on imports (up 13.9%), resulting in a trade surplus of US$8.08 billion.

Meanwhile, many international financial institutions and organizations offered good economic prospects to Vietnam. The Asian Development Bank, Hong Kong and Shanghai Banking Corporation, Standard Chartered Bank, and Standard & Poor’s projected that the Vietnamese economy would grow by 6%, 6.3%, 6.7%, and 6.8% respectively this year.

Vietnam has six billionaires on Forbes list

Vietnam has six billionaires on Forbes global rich list, with four of them increasing their net worth.

The six Vietnamese billionaires are Vingroup Chairman Pham Nhat Vuong, VietJet Air Chairwoman Nguyen Thi Phuong Thao, Hoa Phat Chairman Tran Dinh Long, Techcombank Chairman Ho Hung Anh, Thaco Chairman Tran Ba Duong and Chairman of Masan Nguyen Dang Quang.

Except for Nguyen Dang Quang and Tran Ba Duong, the rest of billionaires reported higher assets in comparison with last year.

Pham Nhat Vuong is the richest man in Vietnam with a total asset of US$4.4 billion, up US$0.1 billion against the same period last year. This is the 12th consecutive year he has been included in the list.

Nguyen Thi Phuong Thao, the only Vietnamese female billionaire reported a total asset of US$2.8 billion. Her worth was reported to surge by an additional US$0.6 billion against last year. She is Vice Chairperson of the Ho Chi Minh City Development Joint Stock Commercial Bank and Vice Chairperson and CEO of VietJet Air.

Hoa Phat Chairman Tran Dinh Long's worth was estimated at US$2.6 billion, up 44 percent. He ranks 1,286 globally.

Ho Hung Anh was named in the list with US$1.7 billion of asset, VGP reported.

Pham Nhat Vuong, chairman of Vietnamese conglomerate Vingroup, who leads the six Vietnamese billionaires named in the 2024 Forbes list of the planet’s richest people

Trang Ba Duong is the 5th richest person in Vietnam with total asset of US$1.2 billion, down US$0.3 billion against the same period last year.

Masan Chairman Nguyen Dang Quang entered the world billionaire list for the fourth consecutive year with assets of US$1.2 billion.

Last year, Vietnam had five billionaires including Vingroup Chairman Pham Nhat Vuong, VietJet Air Chairwoman Nguyen Thi Phuong Thao, Hoa Phat Chairman Tran Dinh Long, Thaco Chairman Tran Ba Duong and Techcombank Chairman Ho Hung Anh.

In 2022, seven Vietnamese names were among the 2,668 of dollar billionaires worldwide namely Chairman of Vingroup Pham Nhat Vuong, CEO of VietJet Air Nguyen Thi Phuong Thao, Chairman of Hoa Phat Group Tran Dinh Long, Chairman of Techcombank Ho Hung Anh, Chairman of Nova Group Bui Thanh Nhon, Chairman of Thaco Tran Ba Duong and Chairman of Masan Group Nguyen Dang Quang.

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