President of the Cambodian National Assembly (NA) Samdech Khuon Sudary (Photo: Xinhua/VNA)

Cambodian NA President’s visit enhances Vietnam – Cambodia traditional solidarity

President of the Cambodian National Assembly (NA) Samdech Khuon Sudary is paying an official visit to Vietnam from November 30 to December 2 at the invitation of Chairman of the Vietnamese National Assembly Vuong Dinh Hue.

The visit is taking place in the context that both nations have enjoyed fruitful ties over the past time.

An array of activities has been held to mark the 55th anniversary of their diplomatic ties, the Vietnam – Cambodia Friendship Year and the Cambodia – Vietnam Friendship Year 2022.

Their political ties have been maintained and exchange of delegations at all levels promoted over the recent time. Particularly, the two sides, in collaboration with Laos, successfully organized a meeting among leaders of the Communist Party of Vietnam (CPV), Lao People’s Revolutionary Party and Cambodian People’s Party (CPP), while arranging a number of meetings and phone talks between leaders of the two states, parties, ministries, sectors and localities.

In August, General Secretary of the CPV Central Committee Nguyen Phu Trong held high-level phone talks with President of the CPP and Prime Minister Samdech Techo Hun Sen. At the event, both sides expressed their delight over the sound bilateral cooperative relations which have been unceasingly consolidated and developed extensively, bringing practical benefits for the two peoples and for peace, stability and development in the region and the world.

The two leaders laid stress on the significance of the traditional solidarity, strong bond and mutual support, saying they are the most important elements in each nation’s national independence in the past and national construction and safeguarding nowadays.

They affirmed that they will join hands to preserve and nurture the bilateral ties, and promote the cooperative relations in all fields in line with the agreed directions, cited VNA.

Taking defense-security as a pillar in the bilateral ties, Vietnam and Cambodia have strengthened cooperation in the field, making contributions to political stability and development in each nation. They have proactively carried out the protocol on defense cooperation during 2020-2024 and annual cooperation plan.

Both nations have enjoyed fine development in economic, cultural and social cooperation. In the meantime, collaboration in education-training, tourism and people-to-people exchange have been promoted.

Parliamentary relations between the two sides have been consolidated. The official visits to Vietnam by Cambodian NA President Samdech Heng Samrin in September 2022 and President of the Cambodian Senate Samdech Say Chhum in October 2022, and that to Cambodia by NA Chairman Vuong Dinh Hue in November 2022 made contributions to promoting and popularizing the “good neighborliness, traditional friendship, comprehensive, sustainable and long-term cooperation” between the two countries, and collaboration between the two legislative bodies in particular.

Vietnamese Ambassador to Cambodia Nguyen Huy Tang said relations between the two NAs have been enhanced increasingly and growing strongly as seen in frequent mutual visits at all levels and between their committees; the organization of thematic conferences, workshops, and experience sharing; assistance in personnel training and the implementation of bilateral cooperation projects; close cooperation at international parliamentary forums such as the ASEAN Inter-Parliamentary Assembly (AIPA) and the Inter-Parliamentary Union (IPU); and the intensification of some trilateral cooperation mechanisms among the specialized committees of the NAs of Cambodia, Laos, and Vietnam.

Tang recently paid a courtesy visit to Samdech Khuon Sudary, during which both sides agreed to work together to elevate the cooperation between the two legislative bodies and the two countries as a whole to a new high, while implementing the signed agreements to consolidate and improve cooperation efficiency.

Additionally, they concurred to bolster comprehensive collaboration, especially in trade, investment and tourism, and support each other in the fields that bring practical benefits to both sides.

The official trip to Vietnam by Samdech Khuon Sudary is an important political activity between the two parliaments, and a new milestone in the continued development of substantive and effective cooperation between the two countries.

Vietnam - China Steering Committee for Bilateral Cooperation to convene 15th session

Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, will be in Vietnam from December 1 to December 2 to hold the 15th Meeting of the China-Vietnam Steering Committee for Bilateral Cooperation at the invitation of Vietnamese Deputy Prime Minister Tran Luu Quang.

The Chinese diplomat is set to pay a courtesy visit to Party General Secretary Nguyen Phu Trong and President Vo Van Thuong, meet with head of the Party Central Committee’s Foreign Affairs Commission Le Hoai Trung, and held talks with Minister of Foreign Affairs Bui Thanh Son.

Previously, on a business trip to China on August 16, 2023, Deputy Prime Minister Tran Luu Quang had a meeting with Politburo member and Chairman of the Office of the Communist Party Central Committee's Foreign Affairs Commission of China, Minister of Foreign Affairs Wang Yi.

Both sides expressed their joy and appreciated the development trend and positive achievements in Vietnam-China relations over the past time, especially after recent high-level contacts, especially the official visit to China by General Secretary Nguyen Phu Trong right after the 20th Congress of the Communist Party of China.

Currently, Vietnam continues to hold the position of China's largest trading partner in ASEAN and China's 4th largest trading partner by individual country, according to VOV.

Deputy Prime Minister Tran Luu Quang (L) and Chinese Foreign Minister Wang Yi.

During the past 9 years of 2023, Chinese investment reached nearly US$2.1 billion with 478 projects, making it the second largest FDI investor in Vietnam.

China maintains the 6th position out of 144 countries and territories investing in FDI in Vietnam with more than 4,000 valid projects and total registered capital of more than US$26 billion.

From the beginning of 2023 until now, many Chinese businesses, especially those with the ability to deeply participate in the global supply chain, have increased surveys and investments in the northern provinces of Vietnam.

Hanoi – attractive city for startup and innovation

Hanoi has been honored for its attractiveness in startup and innovation under the Vietnam Smart City Award 2023 programme series.

Launched on July 20, 2023, the award aims to honor provinces, cities, real estate investors, and technology businesses that feature urban development solutions. The award promotes cooperation in building appropriate models and the development of smart cities in Vietnam, said President of the Vietnam Software and IT Services Association (VINASA) Nguyen Van Khoa at an award ceremony held by the association on November 30.

A total of 32 units and businesses were honored in the categories of urban management, industry real estate, and technology services and solutions, VNA reported.

At the award ceremony. (Photo: hanoimoi.vn)

Nguyen Nhat Quang, Director of VINASA Institute of Science and Technology, pointed to the urgent need to build unified data infrastructure to serve the development of smart cities.

Deputy Minister of Information and Communications Nguyen Huy Dung also held that smart urban development should go in tandem with digital transformation, with people put at the center.

The award ceremony took place within the framework of the Vietnam - Asia Smart City Summit 2023, which is taking place from November 29-30 under the theme of “Data Mining – Building Smart Cities for Sustainable Development”.

Thua Thien-Hue among best place to visit in 2024

The central province of Thua Thien-Hue has been named in a definitive list of unforgettable destinations to visit ahead in 2024, as compiled by magazine Travel+Leisure of the United States.

According to details given by the media outlet, Thua-Thien Hue is the perfect place in which to relax while touring Vietnam.

It suggested that visitors should enjoy trips to a number of mausoleums and temples, followed by a visit to Hue Imperial City, take a tour of a state-of-the-art brewery, enjoy a swim at Elephant Springs, go on short treks, boat on the Perfume River, and check out an ancient tiger market where marks of tiger claws and teeth are still preserved on the walls, cited VOV.

Hue Imperial Citadel.

“If you time your trip right and arrive in Hue in June, you can witness the famous Da Nang International Fireworks Festival,” Travel+Leisure noted.

The US magazine also revealed that the best time to visit the province is between January and April.

Rounding off the Travel+Leisure’s list of best places to visit in 2024 were Palawan of the Philippines, Takayama of Japan, the Red Sea of Saudi Arabia, Incheon of the Republic of Korea, Pak Chong of Thailand, Zhangjiajie of China, St. John’s Island of Singapore, Kratie of Cambodia, Cameron Highlands of Malaysia, Mirissa of Sri Lanka, Meghalaya of India, Ras Al Khaimah of the UAE, and Taipei of Taiwan (China).

Vietnam effectively exploiting digital economy strengths

Vietnam is enjoying the fastest growth rate of digital economy in Southeast Asia this year, with its compound annual growth rate (CAGR) in the 2022-2023 period of 19 percent. The leading position will continue in the 2023-2025 time.

Statistics reveal that the total value of Vietnam’s products is expected to reach a CAGR of 20 percent in 2025, from US$30 billion this year to nearly US$45 billion two years later. This is the leading contribution of e-commerce, online tourism, and digital payment. Vietnam will continue to have the fastest growth rate of digital economy in Southeast Asia, and its top position will maintain in 2025 (the same as the Philippines at that time).

“The digital economy of Vietnam has a great potential thanks to the popularity of digital applications and a highly skillful, self-training workforce, who are actively boosting innovation throughout the country”, commented Fock Wai Hoong from Temasek Group.

Andrea Campagnoli – Office Head cum Founding Partner of Bain & Company in Vietnam – shared that Vietnam has displayed a positive growth in its digital economy, especially in the investment volume in the first half of 2023 compared to last year.

Online payment is obviously an inevitable part of a digital economy. QR-code payment has become the most popular trend and is gaining an increasing proportion. According to the NAPAS payment system, in the third quarter of 2023, the use of VietQR for payment doubled in quantity to reach more than 100 million transactions per month.

Payoo online payment system also informed that the use of QR codes to pay for goods and services online via this platform in the third quarter this year rose by 6 percent in quantity and 30 percent in value compared to the previous quarter. On-site QR-code payment also saw a development of 8 percent in quantity and nearly 20 percent in value, accounting for a rise of 44 percent as opposed to the first 3 months of the year.

Notably, formerly, QR codes were only popular in transactions for goods purchasing or eating services. Now it is more chosen to pay utilities bills as well, with an increase of 2.6 times from the second to the third quarter of 2023, SGGP reported.

A customer in Fahasa Book Store in HCMC is processing a self-checkout (Photo: SGGP)

Co-founder of MoMo e-wallet service Nguyen Ba Diep commented that with their natural love for technology implementation, the young are the main force to accelerate the digital transformation process and promote the trend of digital payment in Vietnam. They are effectively spreading that new consumer fashion based on the digital economy.

At present, about 2.5 million people in Vietnam are choosing MoMo as their digital payment method for more than 90 percent of public administrative services offered on the National Public Service e-Portal, plus another 1 million selecting it for other public services. Nearly 4,300 schools nationwide, including most schools in HCMC, accept school fee payment via MoMo. 148 hospitals and clinics throughout the country also approve this app in their list of payment options.

CEO Marc Woo of Google Asia-Pacific in charge of Vietnam shared that the digital economy in Vietnam is developing in the correct direction, and most key fields are expected to continue this strong growth rate despite many challenges ahead.

The economic fields that are encouraging the development of digital economy in the country

E-commerce in Vietnam has seen a rise of 11 percent since 2022. The CAGR is expected to be 22 percent by 2025, aiming at obtaining a total goods value of US$24 billion that year.

The tourism is forecast to completely recover this year, thanks mostly to a strong growth of the domestic sector. Online tourism has experienced an increase of 82 percent this year, with an estimated CAGR of 21 percent in the 2023-2025 period and a total goods value of US$7 billion.

Other important fields contributing to the development of the national digital economy include transportation, food shipping services, and online media.

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