The VINBAX 2023 is taking place in Hanoi. (Photo: VNA)

Joint peacekeeping exercise enhances Vietnam-India defense cooperation

The fourth joint peacekeeping exercise between Vietnam and India - VINBAX 2023 which is taking place from December 11-21 in Hanoi, has contributed to fostering the friendship and sound defense cooperation under the comprehensive strategic partnership between the two countries.

The field exercise involves engineering and military medical forces, aiming to enhance the coordination capacity of the forces while performing UN peacekeeping activities.

The forces will coordinate to handle simulated circumstances, including aero-medical evacuation situations, cited VNA.

On December 18, high-ranking defense delegations of Vietnam and India watched some activities of the exercise at the site.

Colonel Pham Manh Thang, Director of the Vietnam Department of Peacekeeping Operations (VDPO) and deputy head of the exercise steering committee thanked the Indian Ambassador to Vietnam, the Defence Attaché and the UN peacekeeping force of India for supporting Vietnam during the country’s participation in UN peacekeeping operations and close coordinating with the Vietnamese side in organizing the VINBAX 2023.

After nearly 10 years of joining UN peacekeeping operations, Vietnam has sent 786 officers to perform duties at UN missions. Over the years, Vietnam has received effective support from international partners, including India, one of the countries sending the highest number of officers to UN peacekeeping missions.

Vietnam expects strong wave of Chinese investment

Vietnam is anticipated to emerge as a destination for Chinese enterprises in the near future, as investments from the neighboring country have become increasingly diverse in areas such as energy, green development, and digital economy, according to experts.

Accelerating investment in Vietnam

This year, many Chinese enterprises, especially those with the ability to participate deeply in the global supply chain, have made investment surveys in northern provinces of Vietnam.

For example, Wingtech, China's largest smartphone assembly company, pledged to continue surveying investment opportunities in Phu Tho province. Goertek poured US$280 million into a new project while expanding an existing one in Bac Ninh province. Another firm, China’s largest EV company BYD, invested US$269 million in an automobile component manufacturing project in Phu Tho province.

Baodautu.vn cited Do Van Su, Deputy Director of the Foreign Investment Agency under the Ministry of Planning and Investment (MPI), as saying that China has been one of the largest foreign investors in Vietnam over the past five years.

In the first 11 months of 2023, China pumped US$3.96 billion into Vietnam, ranking fourth among countries and territories investing in the country. To date, Chinese investors have injected over US$27 billion in 4,161 projects across Vietnam, placing 6th out of 143 countries and territories investing in the country.

According to the MPI, investment capital flows from China to Vietnam have changed significantly in recent years in a variety of areas. In addition to restaurants, hotels, and consumer goods, Chinese investors have expanded into electricity, electronics, tire production, textiles, and footwear. This has made an important contribution to developing the country's supporting industries.

Most notably, in October, the northern province of Quang Ninh granted an investment registration certificate to the Jinko Solar Hai Ha Vietnam photovoltaic cell project capitalized at US$1.5 billion. The main investor for the project is Jinko Solar Holding, the world's largest and most advanced solar panel manufacturing corporation from China, according to VOV.

In October, Quang Ninh province granted an investment registration certificate for the Jinko Solar Hai Ha Vietnam photovoltaic cell project capitalizsed at US$1.5 billion. (Photo: markettimes.vn)

John Campbell, Associate Director and head of the Industrial Services Department at Savills Vietnam, outlined Vietnam's geographic location (adjacent to China), creating favorable conditions for the transportation of goods, raw materials and production lines as one of the major reasons why Vietnam attracted Chinese businesses.

In addition, Vietnam's high level of economic integration has also helped Chinese businesses expand their presence in the market, he told baodautu.vn, adding that Vietnam also possesses an abundant labor force, including a highly skilled workforce, with competitive labor costs.

Waiting for large projects

Chairman of the Vietnam Association of Foreign Invested Enterprises Nguyen Mai said besides Vietnam, Chinese investors have also been investing in many countries around the world, in which large economies such as the US or the EU wanted to attract this investment inflow.

However, with the potential for economic and investment cooperation, there would be many more large investment projects from China into Vietnam, Mai said.

From now until 2025 or beyond, Vietnam would become a destination for Chinese investors, Mai said, adding that the investors could not miss investment opportunities in Vietnam to take advantage of potential export partners to trade goods.

At a meeting with Prime Minister Pham Minh Chinh in June, leaders of Chinese giants such as Hong Tian Zhu, Texhong, Song Hailiang, Energy China, Jiang Bin and Goertek praised Vietnam's dynamic development, and expressed their desire to expand production and business in Vietnam.

Leaders of these businesses said they wanted to expand investment in Vietnam in a number of fields such as energy, industrial park infrastructure, social housing, inland waterway ports, automobile manufacturing, research and development, supply chain development.

Vietnamese community in Russia carries out charitable activities

A charitable group of the Vietnamese community in the Russian capital of Moscow, in coordination with students of the People’s Friendship University of Russia (RUDN), recently held an art program and gift-giving ceremony for students and teachers of the “Our House” school for students with disabilities.

This is the eighth year that the Vietnamese community in Moscow has been collecting donations for the "Our House" Centre, and the second year that the Vietnamese have held an annual gala event on the occasion of the New Year, dedicated to children with disabilities.

Addressing the event, Director of “Our House” Vadim Menshov welcomed the Vietnamese friends, extended his gratitude and expressed his hope that their friendship will continue for many years, VNA reported.

A performance at the program. (Photo: VNA)

The program, which was mainly performed by Vietnamese students, featured Christmas and New Year songs, traditional Vietnamese and modern dances as well as puppet dances.

The Vietnamese group is scheduled to organize a similar event at another school for people with disabilities on the outskirts of Moscow on December 23.

Comprehensive strategic partnership adds fresh impetus to Vietnam-US ties

Vietnam and the US officially upgrading ties to a comprehensive strategic partnership is a historic milestone in their relationship, bringing both long-term and immediate benefits to both sides while also making positive contributions to security, peace, co-operation, and the development of the region and the wider world.

Vietnamese Ambassador to US Nguyen Quoc Dung shared details of this in a recent interview granted to VOV regarding the necessary steps to concretize the points mentioned in the joint statement on upgrading relations between the two countries.

This year is viewed as a memorable milestone in joint ties when both nations celebrate 10 years since establishing their comprehensive partnership and upgrading the relationship to that of a comprehensive strategic partnership.

Talking about this historical milestone, the Vietnamese diplomat said there have been important historic milestones recorded in mutual relations. In 1995, the two countries normalized ties and opened diplomatic representative agencies, whilst in 2013 they established a comprehensive partnership.

During that process and especially over the past decade, linkages have developed dramatically, bringing many benefits to both nations’ people, whilst contributing to peace, collaboration, and development in the region and across the world.

After 10 years, along with many results recorded in co-operation to overcome the consequences of war, trade between the two countries increased more than four times, from US$30 billion in 2013 to over US$130 billion in 2022, not including investment through third countries. Direct investment from the US to the country this year stands at nearly US$12 billion, whilst it is worth noting that most major US firms are already present in the nation.

Every year, roughly one million Vietnamese and Americans travel to each other. Indeed, there are currently nearly 30,000 Vietnamese students studying in the US, whilst Vietnamese businesses have also started to invest in the US, the largest of which is VinFast that is currently building an electric car facility in North Carolina.

​Based on those good results, on the official visit to Vietnam made by US President Joe Biden, on September 10, Party General Secretary Nguyen Phu Trong and President Biden agreed to upgrade joint relations to a comprehensive strategic partnership for peace, co-operation, and sustainable development.

Vietnamese Ambassador to US Nguyen Quoc Dung.

This important milestone serves to open up a new historical period with an open framework and fresh momentum for stronger collaboration between the two countries across a variety of fields, especially economics-trade, science-technology, and people-to-people exchanges, Ambassador Dung went on to add.

Regarding the steps that the two countries need to take in order to concretize the points mentioned in the joint statement on upgrading relations between the two countries, Ambassador Dung stated that the joint statement on the Comprehensive Strategic Partnership for peace, co-operation, and sustainable development identifies 10 major pillars in the two countries' relationship, along with their goals, desires, and commitments.

The first necessary thing is to disseminate the content and spirit of these agreements in a bid to help authorities, parliaments, localities, businesses, and people in both countries gain a better understanding and become more closely involved in the implementation process.

Talking about the contribution of high-level business trips between the leaders of the two countries with a view to promoting bilateral relations, as well as the Vietnamese foreign policy in general, the diplomat said during the meetings with US leaders, Vietnamese leaders had strongly affirmed the country’s determination to effectively implement the comprehensive strategic partnership for the benefit of both sides, as well as contributing to the region and the wider world.

This has created a positive effect, particularly in attracting widespread attention and support in US society for stronger relations, cited VOV.

On the occasion of these visits, Vietnamese ministries, sectors, localities, and businesses also actively launched connection activities with US localities and partners. As a result, dozens of agreements were signed. This is both a result and a concrete implementation of the comprehensive strategic partnership that exists between the two countries, he added.

The visits made by Vietnamese senior leaders to the US to attend the UN General Assembly meeting and the APEC Summit continue to demonstrate a foreign policy of independence, self-reliance, and diversification and multilateralization. This affirms that the country can be viewed as a responsible and determined partner, whilst also being a real contributor to the handling of regional and global issues.

The upgrading of relations will also have a positive impact on the activities of these organizations, especially when both sides have identified coordination efforts at regional and international forums as a pillar in their comprehensive strategic partnership.

​Concerning plans to contribute to implementing the comprehensive strategic partnership between the two countries, Ambassador Dung said with its role and tasks, participating in building, determining the content, concretizing and accelerating the implementation of the joint comprehensive strategic partnership is always a top priority of the Vietnamese Embassy and representative agencies in the United States.

Specifically, the major tasks of the Embassy and representative agencies in the US are to disseminate information regarding the comprehensive strategic partnership opportunities and potential that exists in order to help localities, local governments, businesses, and people of both sides to create closer links.

​This is along with lobbying the US government and Congress to prioritize resources for programmes and projects with Vietnam and properly implementing committed agreements, engaging in monitoring the progress, and contributing to speeding up the implementation of the Joint Declaration and action plans of the joint comprehensive strategic partnership, he added.

Exporters urged to early adapt to European Green Deal

To gain a firm foothold in the European market, Vietnamese enterprises have been advised to soon adapt to the European Green Deal (EGD) to meet new requirements of this choosy market.

According to the Vietnam Chamber of Commerce and Industry (VCCI)’s Center for WTO and International Trade, in the first 10 months of 2023, Vietnam’s export value to the EU surpassed US$36 billion.

To achieve sustainable export, it is necessary to have appropriate preparations and be ready to comply with the EGD, which is an urgent requirement for Vietnamese manufacturers and exporters in the coming time, according to experts.

However, a recent survey by the VCCI showed that 88-93% of respondents have never heard or have only briefly heard about the deal.

The EGD, launched in 2020, is a package of policy initiatives aiming to set the EU on the path to a green transition, with the ultimate goal of reaching climate neutrality by 2050, VNA reported.

In fact, since the enforcement of this deal, there have been many green policies that have directly affected foreign goods imported into this region as well as production and export of products from Vietnam to this market.

Accordingly, Vietnam’s exports forecast to be most impacted by the green transition process in the EU in the coming time include electric and electronic products, machinery, equipment and components, farm produce, aquatic products, wood and wooden products, iron and steel, garments, and footwear.

Photo: VOV

VCCI Vice President Nguyen Quang Vinh said that as regulations on the EGD are diverse, without a common roadmap, Vietnamese businesses need to proactively learn about and understand the regulations and policies which have affected the industries and products so as to have thorough preparations and suitable transition.

Some economists advised businesses themselves to identify difficulties and challenges facing their products caused by EGD regulations so as to accurately grasp and regularly update specific EU green policies related to each type of export to gradually adapt to and ensure compliance with mandatory requirements.

They also stressed the need for the State to issue policies to support enterprises in green industrial development, and those to attract more investment.

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