Vietnam News Today (Aug. 28): Singaporean PM Begins Official Visit to Vietnam

Prime Minister Pham Minh Chinh (left) and his Singaporean counterpart Lee Hsien Loong at their meeting ahead of the ASEAN-US Special Summit in the US. (Photo: VNA)

Singaporean PM begins official visit to Vietnam

Prime Minister Lee Hsien Loong and a delegation from Singapore arrived in Hanoi on August 27, beginning a three-day official visit to Vietnams at the invitation of his counterpart Pham Minh Chinh. ​

Welcoming the Singaporean and his entourage at the airport were Minister of Labor, Invalids and Social Affairs Dao Ngoc Dung, Deputy Minister of Foreign Affairs Do Hung Viet, and Vietnamese Ambassador to Singapore Mai Phuoc Dung, and Singapore Ambassador to Vietnam Jaya Ratnam.

Accompanying the Singaporean PM are his wife Ho Ching, Minister of Foreign Affairs Vivian Balakrishnan, Minister for Education Chan Chun Sing, and Minister for Manpower and Second Minister for Trade and Industry Tan See Leng.

This is his fifth visit to Vietnam by Lee Hsien Loong as Prime Minister of Singapore, showing the closeness and cohesion between the two countries, cited VNA.

It is also among a wide range of activities in celebration of the 50th founding anniversary of bilateral diplomatic ties and the 10th anniversary of the strategic partnership. On this occasion, Lee is expected to attend many important activities and events.

Uzbekistan’s Independence Day marked in Hanoi

The Vietnam-Uzbekistan Friendship Association held a friendship exchange event in Hanoi on August 27 to celebrate Vietnam’s 78th National Day (September 2, 1945-2023) and Uzbekistan’s 32nd Independence Day (1991-2023).

Upon addressing the event, the President of the association Luong Phan Cu said that bilateral cooperation between Vietnam and Uzbekistan has seen strong development across multiple fields on the basis of win-win collaboration. The two sides have recorded tremendous achievements in socio-economic development.

The association leader applauded fruitful cooperation between the Vietnam-Uzbekistan and Uzbekistan-Vietnam Friendship Associations, saying it has contributed to promoting the people-to-people diplomacy between the two countries, according to VOV.

At the event (Photo: VNA)

He expressed his confidence that the people-to-people exchange activities of the two friendship associations in the time ahead will continue to flourish, thus further strengthening the traditional relationship, mutual understanding and cooperation between the two nations.

In his congratulatory message, President of the Uzbekistan-Vietnam Friendship Association Mukhamedov Alisher Rustamovich affirmed that the sincere and close friendship and mutual support between the two countries' people have existed for a long tine.

In recent years, with the active dynamism of both nations’ leaders and members of the two friendship associations, the ties between the two sides have created fresh impetus to both Vietnam and Uzbekistan.

He said he hoped that this cooperation will be taken to new heights in the future.

Vietnamese exporters shift toward e-commerce

Since the outbreak of the COVID-19 pandemic, the shift towards a digital economy and changing consumer shopping trends have contributed to boosting exports and goods consumption, helping Vietnamese products reach distant markets, according to experts.

In particular, many businesses have experienced sales increases of up to 70-80% when joining cross-border e-commerce platforms. This demonstrates that digital transformation and technological application have enhanced the value and competitiveness of products in the international market, as well as saved time and operational costs.

Illustrative image (Photo: VOV)

Nguyen Van Thanh, Director of the E-commerce Development Center under the Ministry of Industry and Trade (MoIT)’s Vietnam E-commerce and Digital Economy Agency, said last year, while online retail sales in Vietnam reached 16.4 billion USD, the Vietnamese digital economy was nearly US$23 billion, which is projected to reach US$49 billion by 2025.

Recently, regulatory authorities have partnered with online giant retailers such as Amazon and Alibaba to hold training courses aimed at equipping Vietnamese micro, small, and medium-sized enterprises (MSMEs) with export knowledge and skills. Last year, as many as 1,300 MSMEs benefited from the courses and set up stalls on Amazon and Alibaba.

Statistics showed that the northern mountainous province of Son La is home to around 3,250 firms and 806 cooperatives which have utilized social media and e-commerce platforms to promote and sell farm produce. Since early this year, more than 500 tonnes of fruits from Son La farmers have been sold through e-commerce platforms, cited VNA.

To improve the effectiveness of exporting and selling Vietnamese goods through e-commerce, the MoIT has partnered with localities to hold various e-commerce connectivity schemes, helping thousands of businesses access distribution methods and cultivate a habit of online shopping.

In the near future, the MoIT will also continue focusing on improving the application capacity and developing e-commerce, especially cross-border e-commerce.

German expert gives ways to help Vietnamese enterprises further penetrate into EU market

Marko Walde, the chief representative of the Delegation of the German Industry and Commerce in Vietnam, Myanmar, Cambodia, and Laos, has suggested that local firms utilize the support of competent agencies, international trade promotion agencies, and associations in order to achieve greater penetration into the fastidious EU market.

In a recent media interview given to mark the occasion of the three-year enforcement of the EU-Vietnam Free Trade Agreement (EVFTA) on August 1, 2020, the expert noted that Vietnamese businesses would benefit more from the deal.

This marks the fourth free trade agreement that the EU has signed with an Asian nation, as well as being the second with a member of ASEAN, he stressed.

Walde said thanks to the deal, trade between the two sides has been growing despite the impact of the COVID-19 pandemic over the past three years, adding that it has also created further opportunities for German enterprises based in Vietnam.

However, Vietnamese businesses have yet to take full advantage of the agreement, with goods from the nation making up only around 2% of the EU’s total imports, he continued.

The expert pointed out that complex administrative procedures serve as the main barrier to companies from Germany in particular and Europe in general, although the nation has made efforts to streamline them, VOV reported.

Marko Walde, Chief Representative of the Delegation of the German Industry and Commerce in Vietnam, Myanmar, Cambodia and Laos (Photo: VNA)

Other limitations include infrastructure, he said, suggesting that the country strives to improve its capacity, especially in renewable energy to maintain economic growth, as well as working to modernize its roads, railways, seaports, and airports to ensure smooth business and trade operations.

According to Walde, partnerships with European businesses, including those from Germany, have facilitated technology transfer and continued Vietnamese integration into supply chains.

Local enterprises must therefore raise awareness and understand about standards and regulations set by the EU, he continued, suggesting that they seek support from competent agencies, especially through programs launched by the Government, in order to sharpen their competitiveness.

They should attempt to optimize technical support from the EU and Germany to improve supply chain connectivity, he said.

Moreover, visa and work permit procedures remain a challenge, he went on, stressing the need for Vietnam to invest more in human resources development as part of efforts to become more appealing to European investors who are seeking skilled laborers and a long-term partnership.

Exhibition on Vietnamese culture and people opens in Laos

The month-long event displays over 200 artifacts, photos, and materials featuring beautiful images of Vietnam.

An exhibition on Vietnam, its people, and culture opened in Vientiane, Laos, on August 25, on the occasion of the 61st anniversary of Vietnam-Laos diplomatic ties and the 46th anniversary of the signing of the Vietnam-Laos Treaty of Amity and Cooperation.

Co-hosted by the Vietnam Museum of Ethnology and the Vietnam Culture Center in Laos, the month-long event displays over 200 artifacts, photos, and materials featuring the beautiful images of Vietnam as well as its nature and people, and the unity in diversity of the traditional cultures of 54 Vietnamese ethnic groups, cited WVR.

The exhibition is co-hosted by the Vietnam Museum of Ethnology and the Vietnam Culture Centre in Laos. Photo: VNA

They also depict the great friendship, special solidarity, and comprehensive cooperation between the Parties, States, and people of both countries over the past six decades.

The event is expected to help the people of both countries, especially the young generations, gain a deeper understanding of Vietnam and the bilateral special relationship.

Vietnam News Today (Aug. 25): Vietnam And UK Examine UKVFTA Trade Pact Efficiency Vietnam News Today (Aug. 25): Vietnam and UK examine UKVFTA trade pact efficiency; Foreign retail distributors choose Vietnam as strategic location; Public bicycle sharing service ...

Vietnam News Today (Aug. 26): Vietnam, Iran Step Up All-around Cooperation Vietnam News Today (Aug. 26): Vietnam, Iran step up all-around cooperation; Vietnam attends ASEAN Finance Ministers & Central Bank Governors Meeting; Vietnam-Canada ties featured at ...

Vietnam News Today (Aug. 27): Vietnam, Singapore Highlighted as Leading Important Partners in Multiple Fields Vietnam News Today (Aug. 27): Vietnam, Singapore highlighted as leading important partners in multiple fields; Papua New Guinea wants to upgrade relations with Vietnam; Vietnamese ...