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Ta Hoang Linh, Director of the Europe-Americas Market Department under the Ministry of Industry and Trade, speaks at the event. (Photo: VNA)

Vietnam, US strengthen supply chain cooperation in global marketplace

The 2024 Vietnam-US Cooperation Forum, held in Ho Chi Minh City, focused on new US policy directions and opportunities to enhance bilateral economic and trade relations.

The event was co-organized by Vietnam’s Ministry of Industry and Trade, the US Embassy in Vietnam, and AmCham Vietnam.

Ta Hoang Linh, Director of the Europe-Americas Market Department under the Ministry of Industry and Trade, told the forum that Vietnam has become the eighth-largest trade partner of the US, and its fourth-largest export market in ASEAN. As of October 2024, bilateral trade reached 123.2 billion USD, up 19.3% year-on-year.

Meanwhile, the US is the second-biggest trade partner and the largest export market of Vietnam, cited VNA.

Linh cited statistics of the US Census Bureau that showed Vietnam exported 112.7 billion USD worth of goods to the US in the first 10 months of this year, while its imports from the US totaled 10.5 billion USD, a 29.4% increase. Vietnam holds a trade surplus of 102.2 billion USD with the US, ranking third globally.

Top exports to the US include wood furniture, machinery, office equipment, hand-held tools, footwear, rubber, and plastics.

The two nations have identified 10 key pillars for cooperation, emphasising economic, trade, and investment collaboration, and capacity building for Vietnamese enterprises to participate deeper in global supply and value chains along with US partners. Areas of focus include supply of materials, components, and equipment for energy, aviation, digital economy, semiconductors, and AI.

Anne Benjaminson, Acting US Consul General in Ho Chi Minh City, highlighted Vietnam’s increasingly important role in global supply chains and its strategic partnership with the US, underscoring that the US is working with Vietnam to develop e-commerce to enable enterprises of all sizes to sell their products on line and access new markets.

The US will also expand public-private partnership with Vietnam to assist with technical skill training and human resources development, and improve Vietnam's capacity in power planning and operation. The US-Vietnam cooperation is expected to bring mutual prosperity and sustainability in supply chains for both nations, she said.

Google to open office in Vietnam from April next year

Multinational technology company Google of the US has unveiled plans to officially open its office in Vietnam as of April next year as part of efforts to support domestic businesses and the ongoing national digital transformation process.

This move comes following Google recently sending an email to its customers in Vietnam to inform them that from April 1, 2025, Google Asia Pacific Pte. Ltd. will transfer benefits and obligations to its agent Google Vietnam Company Limited (Google Vietnam) under the terms of the contract with its advertising partners in Vietnam related to payment records.

In Google’s announcement, Google Vietnam will be the unit to sign the contract and subsequently make an invoice for the service. The company will also charge 10% of value added tax for services provided to customers in the nation. Therefore, customers will see a separate item on the invoice recording this tax from April, 2025.

Moreover, from March 1, 2025, Google Vietnam will replace Google Singapore to become the official partner for customers using listed products in the country, according to VOV.

Photo: VOV

Google will also require its partners to provide tax codes, names, and addresses to Google Vietnam in order to receive valid invoices with no changes being made once the invoice has been issued.

A Google communication representative said that the Vietnamese digital economy is transforming rapidly, noting that the company has a team of employees specifically aimed at serving advertising customers in Vietnam and supporting the country's digital transformation process moving forward.

Tay Ninh, Cambodian localities exchange judicial experience

The People’s Court of the southern province of Tay Ninh and the Courts of First Instance of the three Cambodian provinces of Tboung Khmum, Prey Veng and Svay Rieng exchanged experience in adjudication work and crime prevention at a conference held in the Vietnamese locality on December 6.

The event also aimed at strengthening mutual understanding and promoting the robust friendship, contributing to the close bonds and solidarity tradition between the two countries’ people.

Deputy Chief Justice of the Tay Ninh People’s Court Vo Van Ngau said the court handled a significant case involving two Cambodian citizens for illegal currency transportation across the border this year. It also tackled a fraudulent appropriation of property with 38 Vietnamese travelling to Svay Rieng to work for disguised Chinese companies, conducting online scams that resulted in more than 5 billion VND (nearly 197,000 USD) stolen from 19 victims.

Meanwhile, Cambodian judicial representatives shared detailed insight into cross-border criminal activities, with Svay Rieng processing 79 criminal cases related to illegal drug trading, theft, illegal weapons possession and murder, among others, involving Vietnamese citizens. Prey Veng province reported 20 cases involving Vietnamese people, primarily related to drug possession, assault, theft, and illegal fishing.

They highlighted challenges in handling cases with foreign defendants such as language barriers, shortage of bilingual Vietnamese-Khmer lawyers, and tracking defendants who flee across borders, cited VNA.

Vietnamese and Cambodian authorities have joined hands to combat crimes. (Photo: VNA)

At the meeting, the Tay Ninh People’s Court signed cooperation agreements with the three Cambodian courts to enhance judicial cooperation efficiency in combating drug-related crimes, human trafficking, and protecting the rights of victims through adjudication activities in the localities sharing the borderline with Tay Ninh province. They will also share information about criminal activities and work together to promote legal knowledge among residents in border areas.

Tay Ninh province shares nearly 240 kilometers of border with the three Cambodian localities, featuring three international border gates and multiple crossings. While facilitating trade and cultural exchange, these routes also present challenges for law enforcement as they create opportunities for criminal activities, particularly smuggling and drug-related crimes.

China and Vietnam work to accelerate effective implementation of high-level common perceptions

The visit to China by Deputy Prime Minister and Foreign Minister Bui Thanh Son is of great significance for continuing to speed up the effective implementation of high-level common perceptions reached between the two countries, as well as improving the quality of bilateral ties, especially in economics, trade, and investment.

Vietnamese Ambassador to China Pham Sao Mai made the statement during a recent media interview given ahead of the China visit from December 8 to December 11 by the Deputy PM,

Wang Yi, member of the Political Bureau of the Communist Party of China (CPC) Central Committee, Director of the Office of the CPC Central Committee’s Commission for Foreign Affairs, Minister of Foreign Affairs of China, and Chairman of the China Sub-Committee in the Vietnam-China Steering Committee for Bilateral Cooperation.

Referring to the purpose and significance of the upcoming working trip, the Deputy PM focused on the comprehensive strategic cooperative partnership with a community of shared future between both sides which carry strategic significance.

The visit by Deputy PM and Minister Son takes place right after consecutive visits by both sides’ senior Party leaders amid both nations looking towards the 75th anniversary of their diplomatic relations (1950 - 2025).

This can be viewed as being of great significance for continuing to speed up the effective implementation of high-level common perceptions as a means of further enhancing political trust, whilst also bringing the friendship and increasing mutually beneficial ties in a deeper and more substantial manner in the time ahead.

At the 16th Meeting of the Vietnam-China Steering Committee for Bilateral Cooperation, based on the "6 more" orientation agreed upon by both nations’ senior leaders to promote bilateral relations, the two sides will jointly review the overall collaboration efforts between the two countries since the 15th Meeting held back in 2023.

They will discuss major orientations and specific measures aimed at improving the overall quality of cooperation, as well as jointly removing difficulties and obstacles, and continue to step up practical linkages across multiple fields, especially in economics - trade, investment, infrastructure development, culture, education, tourism, and people-to-people exchanges.

According to the Vietnamese diplomat, economic and trade ties between both sides have maintained a stable and sustainable growth momentum in recent times. Indeed, the Vietnamese side continues to be China's largest trading partner in ASEAN and their fifth largest global trading partner.

In contrast, the northern neighbour is Vietnam's largest trading partner, largest import market, and second largest export market.

In the overall results of collaboration, Vietnamese agricultural exports to China continue to be a bright spot. During the past 10 months, the country’s agricultural export turnover to the Chinese market reached nearly US$10 billion, an increase of 11.6% over the same period from last year.

To date, the nation has run 14 agricultural products officially exported to the Chinese market, including: durian, bird's nest, sweet potato, dragon fruit, longan, rambutan, mango, jackfruit, watermelon, banana, black jelly, mangosteen, lychee, and passion fruit.

Among them, several products such as durian and dragon fruit from Vietnam are very popular with Chinese consumers. The import volume of these items from Vietnam accounts for about 20% of the total agricultural products imported from ASEAN.

The Ambassador also highlighted the huge potential that exists for co-operation in the agricultural sector between the two sides, particularly as they have the advantage of being neighboring countries, sharing a common border, and the Chinese market's demand for agricultural products is very large. In line with this, Vietnam's ability to supply high-quality agricultural products is abundant.

Furthermore, the two countries have also signed many bilateral trade agreements and are both members of multilateral trade agreements, VOV reported.

Vietnamese Ambassador to China Pham Sao Mai.

Moving towards the "Vietnam - China Humanistic Exchange Year", the Vietnamese community in China is set to launch a diverse set of activities next year to further strengthen people-to-people exchanges whilst promoting understanding and friendship.

Both nations will mark the 75th anniversary of the Vietnam - China diplomatic relations and the Year of Vietnam - China Humanistic Exchange in 2025.

Over the past 75 years, the friendship that generations of leaders of the two Parties, two countries, and two peoples have worked hard to cultivate has become a valuable common asset, contributing to maintaining the stable development trend of the traditional friendship whilst bringing practical benefits to the people of the two countries.

The decision by both nations’ top leaders to designate 2025 as the "Year of Vietnam-China Humanistic Exchange" is a testament to the fact that humanistic exchange represents one of the most fundamental and important directions in the overall mutual relationship.

Currently, relevant agencies of the two sides are closely coordinating to organize meaningful commemorative activities and people-to-people exchanges.

The Vietnamese community in China is therefore looking forward to and stands ready to contribute and actively engage in activities in a bid to promote the beautiful nature of the country, whilst also showcasing its unique culture and warm-hearted people to the country and people of China.

This will therefore contribute to deepening understanding between the people of the two countries, especially younger generations, together further consolidating the social foundation for the Comprehensive Strategic Cooperative Partnership towards building a joint community with a shared future that carries strategic significance.

Vietnam has everything to develop AI industry: NVIDIA CEO Jensen Huang

Vietnam has everything to develop the AI industry, said CEO of NVIDIA Jensen Huang, who is the 10th richest person in the U.S.

Huang, aged 61, said Vietnam is at a turning point because the economy is growing very successfully, the population is rich with STEM excellence and there is a large population of software engineers. Vietnam is also already attracting a great deal of technology companies to manufacture here.

"I think the timing is perfect for Vietnam to jump into the age of AI," Huang told VGP at an exclusive interview on Thursday.

In order to take advantage of this brand new technology, Huang suggested Vietnam need to do several things such as AI infrastructure, AI talent, and a rich ecosystem of AI startups, VGP reported.

CEO of NVIDIA Jensen Huang.

And all of those things are initiatives that Prime Minister Pham Minh Chinh very much believes in and believes that this is a great time for Vietnam AI, said the NVIDIA CEO, adding that Pham is so enthusiastic and passionate about attracting NVIDIA and this is a great opportunity for us and great opportunity for Vietnam.

Huang went on to say: "The age of AI has just started. This is a complete reset of the computer industry. The computer industry has been developing for 60 years. Could you imagine after 60 years, an industry is reset with a brand new technology? Instead of software running on CPUs, it's now AI running on GPUs."

As everyone is at the same time, everyone is at the same place. We are at the starting point.

And this is such a great opportunity for Vietnam. Vietnam has excellent computer scientists already, excellent mathematicians already. And AI is ideal for mathematicians and computer scientists.

To have an AI industry, first of all, Vietnam should have AI infrastructure so that all the AI companies could flourish and AI researchers could do great groundbreaking science and all of the students could learn AI, said Huang.

Vietnam has such a large population of STEM excellence and a very large population of software engineers because of STEM. The family values of Vietnam and the dedication of parents to channel their children towards STEM have resulted in Vietnam being world-class at STEM. With these advantages, Vietnam already has the grassroots and foundations of success in future technology.

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