Vietnam News Today (Dec. 12): Vietnam Strongly Supports Laos' Renovation Efforts

	Vietnam News Today (Dec. 10): Vietnam-China Trade Turnover Reaches Nearly US$200 Billion
	Vietnam News Today (Dec. 11): Vietnam Fully And Responsibly Adheres to UNCLOS 1982

General Secretary of the Lao People's Revolutionary Party Central Committee and President of Laos Thongloun Sisoulith (right) receives Nguyen Duy Ngoc, Secretary of the Communist Party of Vietnam Central Committee and Chief of its Office, in Vientiane on December 11. (Photo: VNA)

Vietnam strongly supports Laos' renovation efforts: Party official

The Party, State, and people of Vietnam strongly support Laos's renovation efforts, Nguyen Duy Ngoc, Secretary of the Communist Party of Vietnam (CPV) Central Committee and Chief of its Office told Lao leaders on December 11 during his two-day visit to the country.

Hosted by General Secretary of the Lao People's Revolutionary Party (LPRP) Central Committee and President of Laos Thongloun Sisoulith and Lao Prime Minister Sonexay Siphandone in Vientiane, Ngoc congratulated Laos on attaining significant, comprehensive achievements after nearly 40 years of renovation and fulfilling its responsibilities as ASEAN Chair in 2024, contributing to maintaining solidarity and promoting cooperation within ASEAN, and enhancing Laos' role and status on the international stage.

He expressed his firm belief that under the leadership of the LPRP, the Lao people will continue to achieve many new, greater successes in the renovation process, successfully implementing the resolutions of the 11th Party Congress and successfully organizing the Party congresses at all levels leading up to the 12th National Party Congress.

He affirmed Vietnam attaches importance and gives the highest priority to consolidating and strengthening the great friendship, special solidarity, and comprehensive cooperation with Laos.

The development of Vietnam-Laos relations is a strategic task of vital significance to the revolutionary cause, national building and safeguarding of each country, he said, adding Vietnam will do its utmost with Laos to maintain and nurture the relationship, contributing to peace, stability, cooperation, and development in the region and the world.

The Vietnamese official briefed the Lao leaders on the recent situation in Vietnam, the implementation of the Resolution of the 13th CPV Congress, preparations for the congress for the new tenure; the realisation of the high-level Vietnam-Laos agreements, as well as the results of his talks with the Office of the LPRP Central Committee.

He emphasized that the two committees will continue to coordinate closely in implementing the resolutions of each Party; increase the exchange of information and experience in their work; and effectively implement their signed cooperation agreement.

Thongloun Sisoulith and Sonexay Siphandone congratulated Vietnam on its significant achievements made recently and expressed their confidence that under the leadership of the CPV, the Vietnamese people will continue to reap many new and greater successes in the renovation process, successfully implementing the Resolution of the 13th Party Congress, cited VNA.

They expressed their delight with the increasingly growing Vietnam-Laos relationship, which brings practical benefits to the people of both countries, with contributions from the two Party Central Committees' offices.

They requested the two offices continue to coordinate closely and effectively, and enhance their role in preserving and nurturing the Vietnam-Laos relationship.

Earlier, on December 10 afternoon, Ngoc held talks with his Lao counterpart Thongsalith Mangnomek. The two sides informed each other about the situation of each Party and country, the cooperation between the two Parties and countries, and the activities of their offices.

They evaluated the cooperation results between the two offices, and shared experience regarding research and consultation, and discussed focuses for cooperation in 2025 as well as other matters of mutual interest.

Ngoc and Thongsalith jointly announced and published the yearbook on activities celebrating the Vietnam-Laos friendship year in 2022 in Khammuon province.

On this occasion, authorised by the State President of Vietnam, Ngoc and his deputy Pham Gia Tuc awarded medals and orders to Lao collectives and individuals for their contributions to the cooperative relations between the two offices during the 2017-2022 period.

ADB forecasts Vietnamese GDP growth at 6.6% next year

The Asian Development Bank (ADB) has projected that Vietnam's Gross Domestic Product (GDP) will reach 6.6% in 2025, according to the Asian Development Outlook (ADO) released on December 11.

The country’s growth forecast for 2024 has been revised upward to 6.4% from 6.0%, whilst for 2025 the rise is to 6.6% from 6.2%.

ADB experts have pointed out that a strong trade performance, a resurgence in export-led manufacturing, and ongoing fiscal stimulus measures have all contributed to Vietnamese economic growth reaching 6.8% for the first three quarters of the year.

This robust rebound in export-led manufacturing and trade, bolstered by the resilient economy of the United States, is expected to continue supporting GDP growth moving forward, according to VOV.

Photo: VOV

Accelerated public investment coupled with accommodative fiscal and monetary policies are anticipated to further stimulate domestic demand.

Despite some of the severe impacts caused by Typhoon Yagi in various parts of the country, the swift response by the Government and recovery efforts limited the impacts on growth.

Think tanks emphasised that Southeast Asia’s growth outlook for the year has also improved, revised up to 4.7% from 4.5%, with this being driven by stronger manufacturing exports and public capital spending in larger economies.

The subregion’s manufacturing and trade sectors benefited from the global electronics upturn and shifts in global supply chains, with high-income tech exporters enjoying gains from rising semiconductor sales.

Growth picked up in Malaysia, Thailand, Singapore, and Vietnam, which was duly supported by domestic demand, lower inflation, and sustained public investment.

While Vietnam sees rising foreign investment, other Southeast Asian economies like Indonesia and the Philippines are on track to meet previous growth forecasts.

However, experts analysed that geopolitical tensions, trade fragmentation, and severe weather events like Typhoon Yagi and Tropical Storm Trami pose risks to growth, particularly in agriculture and infrastructure in the time ahead.

Vietnam actively participates in UN peacekeeping activities: Malaysian researcher

Malaysian history and international politics researcher Enzo Sim Hong Jun from Penang Institute has emphasised the Vietnam People’s Army (VPA)'s contributions to the national building and safeguarding as well as to UN peacekeeping activities.

During an interview with the Vietnam News Agency on the occasion of the 80th founding anniversary of the VPA (December 22, 1944 - 2024) and the 35th anniversary of the All People’s Defence Festival (December 22, 1989 - 2024), the researcher affirmed the important role of the Communist Party of Vietnam in the struggle for national independence, initially against French colonialism and later against American imperialism.

Looking back at Vietnam's historical process to gain national independence, Enzo said that President Ho Chi Minh made the crucial decision to establish the Vietnam Armed Propaganda Unit for National Liberation, the predecessor of the Vietnam People's Army on December 22, 1944. The term "People's Army," chosen by President Ho Chi Minh, signifies an army "from the people and for the people".

According to the researcher, although President Ho Chi Minh did not witness the unification of Vietnam, his spirit and valuable lessons continued to live on, guiding the VPA in its fight against US imperialism.

He affirmed that the Communist Party of Vietnam and President Ho Chi Minh played key roles in the fight for Vietnam's independence, VNA reported.

Malaysian history and international politics researcher Enzo Sim Hong Jun from Penang Institute. (Photo: VNA)

Regarding the role and contributions of the VPA to humanitarian duties and UN peacekeeping missions, Enzo assessed the VPA plays an important role in restoring peace and order in some of the most unstable regions in the world, including Abyei, South Sudan, and the Central African Republic, as well as in the UN Department of Peacekeeping Operations in New York.

Enzo highlighted the remarkable fact that over 20% of Vietnam's peacekeepers are women. The participation of women in UN peacekeeping activities is essential, as female soldiers can serve as role models and strong advocates for local women who have suffered from violence and conflict. Additionally, the presence of women allows peacekeeping operations to better engage with local communities for distributing UN humanitarian aid.

He emphasised that in the fragile peace context of these regions, as one of the main contributors to UN peacekeeping missions, Vietnam has become a model for the international community in contributing more to international humanitarian missions and serves as a testament to how a developing country can support less developed nations in "sowing seeds of peace”.

Vietnam-China trade nears US$200 billion milestone

After 11 months, Vietnam-China bilateral trade reached US$185.4 billion, nearing a historic milestone of US$200 billion.

In the first 11 months of this year, Vietnam's exports to China amounted to US$55.2 billion, down 0.9 per cent, according to the General Statistics Office. But imports from China surged by 29.7 per cent to US$130.2 billion.

China remains Vietnam’s largest import market, with a trade deficit of US$75 billion, up 67.7 per cent.

This brings the total bilateral trade value between Vietnam and China to US$185.4 billion as of November.

On average, monthly trade turnover between the two nations reached US$16.8 billion. If this pace continues, by the end of the year, bilateral trade turnover could hit US$200 billion. This is a record number, equivalent to nearly one-fourth of the country's total import-export turnover.

This target is deemed achievable, as the year-end period typically sees a surge in trade activities driven by holiday and New Year demand.

Agricultural products are Vietnam's primary exports to China. In the first 10 months, Vietnam’s agricultural exports to China reached nearly US$10 billion, an 11.6 per cent increase year-on-year, VNN reported.

Farmers check the quality of dragon fruit before shipping it to China in the southern province of Tien Giang. Photo doanhnhansaigon.vn

Vietnam has established official export channels for 14 key agricultural products to China, including durians, bird's nests, sweet potatoes, dragon fruits, longans, rambutans, mangoes, jackfruits, watermelons, bananas, black jelly, mangosteens, lychees and passion fruit.

Durian and dragon fruit are especially popular among Chinese consumers. The import volume of these items accounts for about one-fifth of ASEAN's agricultural imports to China.

The Ministry of Agriculture and Rural Development also signed three protocols with China's General Administration of Customs. These agreements formally allowed the export of fresh coconuts, frozen durians and crocodiles to the Chinese market.

Le Quoc Phuong, former Deputy Director of the Industry and Trade Information Centre under the Ministry of Industry and Trade, highlighted that while Vietnam’s import turnover from China is relatively substantial, it is not overly concerning. This is because the majority of imports consist of raw materials and components essential for production and export activities.

He said that Chinese imports, particularly raw materials for production, are known for their good quality and competitive pricing.

The geographic proximity between the two countries facilitates efficient two-way transportation, making China a preferred source of imports for Vietnamese businesses.

In 2023, the total bilateral trade turnover between Vietnam and China reached US$171.9 billion.

Argentina keen to bolster ties with Vietnam

Argentina aspires to boost cooperation with Vietnam in terms of biotechnology, hi-tech agriculture, and energy, towards achieving a common goal of developing a green economy, according to newly-appointed Argentinian Ambassador to Vietnam Marcos A. Bednarski.

In a recent media exchange held in Hanoi, the diplomat stressed his country’s great satisfaction with its relationship with Vietnam, stating that Argentina hopes to upgrade the Comprehensive Partnership with Vietnam to a Strategic Partnership soon.

He hailed the increased exchange of delegations through the Party channel and between localities of the two countries over recent years, voicing his hope for more bilateral meetings ahead in 2025.

For trade co-operation, both sides have complementary economies. The Latin American country mainly exports input goods for the Vietnamese side’s industries. Meanwhile, Vietnam exports high-value-added commodities to Argentina, including phones, electronic devices, footwear, and textiles.

According to the diplomat, Vietnam represents Argentina's third-largest trading partner in the Asia-Pacific region, just behind China and India, whilst being the eighth biggest in the world. Over the past 10 months, the South American nation exported goods worth US$2.76 billion to the Vietnamese market, up over 47% on-year, cited VOV.

At the meeting between newly-appointed Argentinian Ambassador to Vietnam Marcos A. Bednarski and media agencies.

In addition to trade exchanges, the two countries are in the process of collaborating on agricultural projects, including research on soybeans, rice, and tropical fruits, he said, adding that they have been negotiating an agreement on investment promotion and opening a market for new Argentinian products such as pork and tropical fruits.

Ambassador Bednarski revealed that a delegation of eight Argentine companies participated in Vietnam Food Expo 2024 in Ho Chi Minh City, expressing his hope that more businesses will show an interest in attending the event next year.

The diplomat went on to highlight the important partnership between the Viettel Military Industry and Telecoms Group (Viettel) of Vietnam and a business of Argentina, which resulted in the Argentine firm beginning to purchase fiber optic cables from Vietnam for the Internet network in the Latin American country.

This is another example which serves to prove the benefits brought about by diversifying trade products and the high-value-added industrial products of Vietnam to Argentina, he stated.

Both sides are also negotiating a bilateral investment promotion agreement, with an agreement on double taxation avoidance and tariff reduction, which will provide more opportunities for businesses of both nations, he said.

Ambassador Bednarski pledged to step up cooperation with Vietnam in culture and sports, such as promoting and introducing Argentina's Malbec wine and Tango art in the Southeast Asian nation as a contribution to further tightening bilateral ties.

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