At the meeting (Photo: VNA)

Vietnam, and Iran step up all-around cooperation

A delegation led by Pham Tat Thang, a member of the Party Central Committee and permanent deputy head of its Commission of Mass Mobilization, paid a visit to Iran from August 21 to August 24.

Within the framework of the visit, the delegation held separate meetings with the Secretary-General, Chairman of the Political - Security - Defense Committee, the Council for Unification of Awareness Ghadir Nezamipour, secretary-general of Islamic Coalition Party Assadollah Badamchian, Chairman of the Party Coalition Manouchehr Mottaki, Deputy Foreign Minister Shaykh al-Islami, and President of the Iran-Vietnam Friendship Association (IVFA) Seyed Kamal Sajadi.

The meetings saw Thang brief Iranian officials on the situation in Vietnam and hailed Iranian achievements in maintaining political stability, security, and economic development, as well as ensuring social security and international integration.

The Vietnamese Party and State place great importance on ties with Iran, he said, suggesting that both sides move to swiftly carry out the terms of signed cooperation agreements and strive to optimize the potential and advantages of each country. This should be done in a bid to reinforce and develop the two countries' co-operation in politics - diplomacy, trade - investment, culture - education, and science – technology.

The Iranian officials expressed their full admiration for Vietnamese achievements in national construction and development, affirming that the country is a leading partner of Iran in the Asia–Pacific region, cited VOV.

They also outlined their hope at deepen solidarity, friendship, and cooperation with Vietnam, especially in the areas where the two sides have strengths and needs, striving to achieve the goal of recording economic cooperation of US$2 billion that both countries’ leaders have set.

The two sides therefore consented to collaborate in launching a wide range of activities aimed at celebrating the 50th anniversary of diplomatic relations which began on August 4, 1973, as well as striving to enhance the exchange of delegations at all levels. This is along with closely coordinating efforts at international multilateral forums, encouraging friendly relations and linkages between mass organizations of the two countries, and boosting business connections and people-to-people exchanges.

Vietnam attends ASEAN Finance Ministers & Central Bank Governors Meeting

Deputy Minister of Finance Vo Thanh Hung highlighted Vietnam’s flexible monetary policy management in an effort to promote consumption, investment and business while addressing the 10th ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM) which was held in Indonesia on August 24 and 25.

The Vietnamese Government has taken strong measures to recover economic growth, he said, elaborating on the country’s socio-economic recovery and development program, and the exemption, reduction and extension of payment deadlines of land-related taxes and fees, interest rate support for businesses and households, and public investment promotion, according to VNA.

The 10th AFMGM approves a joint statement, pledging to further tighten the solidarity and cooperation for the common goal of building a strong, united and self-reliant ASEAN Community. (Photo: VNA)

At the same time, the country has consolidated its institutions and strived to ensure a transparent environment to lure more investors, he continued.

The official also stressed Vietnam’s contributions to the financial cooperation of the Association of Southeast Asian Nations (ASEAN), notably the 26th ASEAN Insurance Regulators' Meeting (AIRM) to be held in Ha Long City in the northern province of Quang Ninh from December 5-8.

Delegates, including representatives from international organizations, looked into the regional and global economic and financial situation and took note of the ten-member group's economic recovery, which has contributed to global economic growth.

They also stressed the need for the bloc to consolidate macro policies and flexibly use policy tools to achieve growth targets and maintain economic stability.

The 10th AFMGM approved a joint statement, pledging to further tighten the solidarity and cooperation for the common goal of building a strong, united and self-reliant ASEAN Community.

Vietnam-Canada ties featured at international conference

The Vietnam Institute of Americas Studies (VIAS) and the Canadian Embassy co-hosted an international conference, titled “50-year Relationship of Vietnam-Canada: Look Back and Forward”, on August 25 in Hanoi.

At the conference, participants discussed the diplomatic relations’ progress in the past five decades from 1973 to 2023. They analyzed the current regional context and international institutions of which both countries are members in order to find common ground, opportunities, and platforms serving the enhancement of the ties in the coming time.

Delegates underlined the need for the sides to further capitalize on the potential of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as well as their economic and education cooperation and cultural and people-to-people exchanges, reported VOV.

Photo: VOV

In his opening remarks, Associate Professor, Dr. Nguyen Duc Minh, Vice President of the Vietnam Academy of Social Sciences (VASS), emphasized that the friendly relations between Vietnam and Canada have been developing robustly, earning many accomplishments in all spheres, particularly politics, diplomacy, trade, investment, defense, security, education, and development cooperation.

VIAS Director Associate Professor, Dr. Nguyen Xuan Trung attributed those achievements to a strong foundation of past cooperation and the Canadian people’s support for their Vietnamese peers.

He said both nations share common views in multiple fields such as maintaining peace, stability, and international security; respecting international law; supporting multilateralism; upholding human rights and equality; and contributing to sustainable development and international humanitarian activities. They also share the desire for a peaceful and stable environment in the Asia-Pacific region.

In addition, the community of over 240,000 Vietnamese people in Canada serves as a crucial bridge for people-to-people exchanges and enhancing mutual understanding between the two countries, especially in such areas as innovation, green technology, digital technology, and human resources training.

Trade surplus reaches US$16.25 billion by mid-August

Vietnam enjoyed a trade surplus of US$16.25 billion as of August 15, according to the General Department of Customs.

The country’s total import and export turnover hit over US$402 billion in the period, including US$209.43 billion in export value, representing a yearly decline of 10.1%, or US$23.5 billion in comparison with the same period last year.

In the first half of August, Vietnam's trade with the rest of the world was estimated at US$28.6 billion, of which export value decreased by 10.8 % year-on-year to US$14.4 billion.

Top exports include phones and accessories (US$2.42 billion); computers, electronic products and components (US$2.38 billion); garments and textiles (US$1.55 billion); and machinery and equipment (US$1.53 billion).

Meanwhile, the country spent US$14.2 billion on importing commodities in the reviewed period, up 5.3% against the same period last year, cited VNA.

Illustrative image (Photo: VNA)

The Ministry of Industry and Trade said it will continue to support businesses to optimize benefits from free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and the UK – Vietnam FTA (UKVFTA), in an effort to boost exports amid a global market slump.

The ministry has also worked with the Ministry of Agriculture and Rural Development to negotiate with China to open its market to other fruits and vegetables of Vietnam such as green-skinned pomelo, fresh coconut, avocado, pineapple, star apple, lemon, and cantaloupe.

Foreigners allowed to own houses without land-use right

The Ministry of Construction (MOC) has proposed that the government conclude that housing ownership by foreign individuals should not include not land-use rights. In addition, foreigners should be allowed to extend the house ownership period once.

The proposal was in the ministry’s statement on collecting and explaining the opinions of National Assembly Deputies’ opinions on the draft of the Housing Law (amended) which has just been submitted to the government.

According to MOC, regarding the ownership of houses in Vietnam by foreign individuals and organizations, some National Assembly Deputies suggested that the draft Housing Law (amended) that will be submitted to the NA for opinions at the year-end session should stipulate that the house ownership right in Vietnam by foreign individuals and organizations should not include a land-use right.

MOC agrees with the opinion of the National Assembly Deputies and the National Assembly’s Law Committee. In addition, it suggested adding the regulation that foreigners have the right to extend the ownership time once.

MOC has asked the government to set additional regulations on extending the time of house ownership for foreigners. The government needs to add regulations saying that if foreigners buy houses in Vietnam and sell the houses to Vietnamese citizens, or overseas Vietnamese, the buyers will be able to enjoy the rights and obligations as domestic citizens do, cited VNN.

Photo: VNN

Speaking at a recent workshop, Hoang Hai, head of the MOC’s House and Real Estate Market Department, said foreign organizations and individuals who have bought and now own houses in Vietnam are mostly in large cities and provinces: Hanoi (1,765), HCM City (850), Bac Ninh (110), Binh Duong (210) and Ba Ria - Vung Tau (50).

Hai noted that since the 2014 Housing Law took effect, the number of foreign individuals and institutions owning houses in Vietnam has increased significantly.

Under the current Housing Law, the foreign subjects allowed to own houses in Vietnam include foreign institutions and individuals making investments and building houses under projects in Vietnam in accordance with the law and related laws; foreign-invested enterprises, branches, and representative offices of foreign-invested enterprises, foreign investment funds, and foreign bank branches operating in Vietnam; and foreign individuals allowed to enter Vietnam.

Foreigners can own houses in Vietnam through one of the following forms: making investments and building houses under projects in Vietnam in accordance with the law and related laws; or buying, leasing, and receiving commercial houses as gifts/heritage, including apartments and separate houses in housing projects, excluding ones in areas for national defense and security.

The laws also clearly stipulate that foreigners cannot buy more than 30 percent of the total number of apartments in an apartment building.

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