Vietnamese Prime Minister Pham Minh Chinh (second from left) and his wife arrive in Zurich, Switzerland, for the 54th annual meeting of the World Economic Forum 2024.

Vietnamese PM arrives in Switzerland for WEF 2024 meeting

Vietnamese Prime Minister Pham Minh Chinh arrived in Zurich on January 16 morning (local time), beginning his working trip to Switzerland where he will attend the 54th annual meeting of the World Economic Forum (WEF) in Davos at the invitation of WEF founder and executive chairman Klaus Schwab.

Chinh and his entourage were welcomed at Flughafen airport by the Vietnamese Ambassador to Switzerland Phung The Long, Ambassador Le Thi Tuyet Mai, head of the Permanent Mission of Vietnam to the United Nations, WTO, and other international organizations in Geneva, and representatives of Vietnamese expatriates in Switzerland, cited VOV.

During his stay from January 16-19, the Vietnamese PM will attend and address important discussion sessions, including those on capital investment in semiconductors manufacturing, the World Economic Forum’s Country Strategic Dialogue on Vietnam, promotion of new growth drivers in Vietnam, and the role of global cooperation in ASEAN.

He will meet with WEF founder and executive chairman Klaus Schwab, and have bilateral contact with leaders of countries, international organizations and WEF businesses. He will also attend and address a seminar on experiences and models for developing Switzerland’s international financial center, as well as meeting CEOs of leading Swiss corporations and businesses.

The PM’s working trip is expected to give Vietnam the chance to grasp the world’s development models, governance models and development trends, to effectively respond to challenges, and attract maximum resources for national development.

Affordable goods, sufficient supply ensured for Tet

The Ministry of Industry and Trade (MoIT) has ordered local firms to ensure sufficient supply of goods of affordable prices for the upcoming Tet (Lunar New Year) holiday, as demand on this occasion is forecast to increase 10% from the same time last year.

Businesses have rushed to stockpile essential items, with the volume of inventory rising 10-25% year-on-year. They have committed to launching an array of price stabilization and promotion programs in the runup to Tet.

Affordable goods available

Vissan Joint Stock Company, which processes and sells fresh and frozen meat and other foods, plans to provide the market with nearly 1,100 tonnes of fresh products and 3,800 tonnes of processed ones. Besides, it has increased stockpiling by 10-20% in anticipation of the scarcity of goods and rolled out 10-20% discount programs on weekends, and will even offer an up to 30% discount on the days leading up to Tet.

In September 2023, renowned retailers such as GO!, Big C and Tops Market signed deals with their partners to increase the supply of Tet commodities by 20%. They have carried out the “price lock” program on more than 10,000 consumer goods, and launched attractive discounts on over 50% of their high-quality products. Additionally, over VND3 billion (US$122,500) worth of awards is up for grabs in the supermarkets’ lucky draws.

Meanwhile, the Co.opmart supermarket chain has made meticulous preparation for the Tet season, with the amount of foods stocked up rising 30% year-on-year. As top priority is given to promote Vietnamese brands, Co.opmart has arranged shelves to introduce “One Commune, One Product” goods, according to VNA.

Businesses have committed to launching an array of price stabilisation and promotion programmes in the runup to Tet. (Photo: VNA)

Experts said Tet is a golden time for food businesses as customers are in a good mood to splurge on items like confectionery. Currently, domestic producers are making concerted efforts to improve product quality and brand with competitive prices so as to meet the market demand and win the lion share in the domestic playground.

Orion Food Vina Company Limited will supply the market with 32,000 tonnes of confectionery at rational prices, up 5-10% from the previous Tet season. Meanwhile, the Hanoi Confectionery Joint Stock Company plans to sell 350 tonnes of goods at stable prices although input costs pick up 5-12%.

High expectation for purchasing power

An array of products at stable prices are available at large supermarkets like Co.opmart, Big C, and Aeon, who are “holding their breath” for the increases in purchasing power.

They have been concerned about the market fluctuation after seeing shopping demand for the year-end season expand only 10-15% as compared to the normal days, which forced them to accelerate promotion and reduce profit on several product lines to ensure the set consumption plans.

As part of the efforts to encourage locals’ spending, competent ministries, sectors, and authorities have carried out trade promotion programs, and the “Vietnamese people prioritize Vietnamese goods” campaign.

The MoIT has directed market management authorities in localities to enhance inspection and handle violations of speculation of goods during Tet season.

According to Acting Deputy Director of the Hanoi Department of Industry and Trade Tran Thi Phuong Lan, local enterprises have outlined plans to serve the demand for Tet commodities, with total necessary goods on supply valued some VND40.9 trillion, up 10% from the previous season.

In Ho Chi Minh City, credit institutions have set aside around VND9 trillion in loans with short-term interest rates of 4-6% for enterprises to carry out the market stabilization program for the Tet holiday.

Vietnamese businesses to attend CIIE 2024 Fair in China

Foreign firms from 154 countries worldwide, including Vietnam, are expected to attend the seventh China International Import (CIIE 2024) which is slated to run from November 5 to 10, 2024, heard a press conference held in Hanoi on January 16.

Addressing the event, Le Hoang Tai, deputy director of the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade, stressed that the expo continues to be one of China's most important economic and political events as it attracts a large number of professional importers from provinces and cities across the mainland, according to VOV.

Representatives of Vietrade and Chinese agencies sign a memorandum of understanding on enhancing cooperation in trade activities at the press briefing in Hanoi on January 16 (Photo: VNA)

The event is expected to bring about practical benefits to Vietnamese businesses in exporting goods via official routes, as well as expanding distribution channels in the Chinese market, Tai noted.

This year, Vietnamese businesses will mainly introduce agro-fisheries and processed foods, according to the official.

A trade exchange between Vietnamese and Chinese businesses will be held during the expo aimed at enhancing the overall efficiency of trade promotion activities for local firms.

This is the second time that the Ministry of Industry and Trade has arranged to send local businesses to the expo.

The Vietnamese delegation will be led by Deputy Prime Minister Tran Hong Ha and is anticipated to attend various activities, including introduction of high-quality products and trade promotion conferences.

First Vietnamese factory inaugurated in Egypt

Vietnam's European Plastics Joint Stock Company (EuP) has inaugurated a factory specializing in producing filler masterbatch in Sadat city, Menoufaya province of Egypt, marking the first factory of a Vietnamese enterprise in the Middle East country.

The EuP Egypt factory was built on an area of more than 34,000 sq.m with an investment of US$30 million. It is designed to have 24 production lines with a total capacity of 300,000 tonnes a year, creating jobs for more than 300 local workers. Its products will serve the Egyptian market and exports to the Middle East, Africa, Europe and America.

Founded in August 2022 in Egypt with 100% investment capital from Vietnam, EuP Egypt Industries Company, a subsidiary of EuP, has an ambition to expand markets and become a multinational company, cited VNA.

Hossam Heiba, President of Egypt’s General Authority of Free Zones & Investment, visits EuP Egypt Factory. (Photo: VNA)

Speaking at the inaugural ceremony on January 15, Hoang Quoc Huy, Chairman of the Board of Directors of EuP, said the EuP Egypt factory is an important step in the company’s expansion strategy, adding that it is a symbol of cooperation and development between Vietnam and Egypt.

Hossam Heiba, President of Egypt’s General Authority of Free Zones & Investment (GAFI), highlighted the significance of the factory as the first project of a Vietnamese enterprise in Egypt, saying it reflects the Egyptian Government's efforts to attract foreign investors.

He affirmed that Egypt will always encourage and protect foreign investors, including Vietnamese ones. He also expected that more Vietnamese businesses will invest in his country.

HCM City doctors successfully performed second fetal cardiac intervention

The HCM City Department of Health views this success as an initial outcome in the specialized field of fetal congenital heart intervention.

A second fetal cardiac intervention was successfully performed by doctors from Tu Du Hospital and Children's Hospital No.1 in Ho Chi Minh City on January 12.

During prenatal examinations, 27-year-old pregnant woman N.P.P.A., from District 3, HCM City, was diagnosed with fetal heart abnormalities at 21 weeks of pregnancy, specifically progressive aortic valve stenosis. She underwent amniocentesis for genetic testing, which showed no abnormalities.

By January 11, the pregnancy had progressed to 29 weeks with severe aortic valve stenosis. After consultations, fetal experts and pediatric cardiologists unanimously concluded that emergency fetal intervention was crucial in this case.

Without intervention or if delayed until after 29 weeks of gestation to dilate the aortic valve, the risk of fetal death would be extremely high, VNS reported.

Doctors performed the fetal cardiac intervention on January 4. Photo: HCM City's Department of Health

The fetus faced the possibility of either dying in the womb, with a stillbirth rate exceeding 30 per cent, or progressing to hypoplastic left ventricle syndrome with a 50 percent risk of a univentricular heart wall (requiring multiple surgeries after birth for temporary return to univentricular circulation or complete treatment with a heart transplant).

Cardiologists determined that fetal cardiovascular intervention at this juncture was appropriate. However, predicting the fetal position for cardiac catheterisation presented challenges due to excess amniotic fluid and frequent fetal position changes.

The surgery started at 9am on January 12.

The surgical team faced the expected challenges, with the fetus frequently changing positions, making it difficult to insert the needle into the left ventricle and onto the aortic valve.

The intervention at Tu Du Hospital took 20 minutes to position the needle correctly, and it was then handed over to the heart valve catheterisation team at Children's Hospital 1 to complete the crucial final step – aortic valvuloplasty.

Post-surgery, the pregnant woman was closely monitored in the operating room for 15 minutes, and the stabilized condition of fetal pericardial effusion was confirmed.

The successful surgery concluded at 11am on the same day, with continuous monitoring of the pregnant woman post-surgery. By 1pm, the fetal pericardial effusion was well controlled, the fetal heart rate was normal, and the mother's condition was stable.

On January 4, the same expert team from Tu Du Hospital and Children's Hospital 1 achieved a milestone by conducting Vietnam's first fetal interventional cardiac catheterization. This involved pregnant woman L., who, during her first pregnancy, was monitored in Da Nang City. Transferred to Tu Du Hospital due to the fetus's severe heart abnormalities – a birth defect without a pulmonary valve opening and right ventricular hypoplasia – the intervention successfully addressed the issues.

Subsequent examinations showed good flow through the fetal pulmonary valve, with no pericardial effusion.

Both interventions were executed with absolute precision, marking a significant advancement in technical expertise comparable to that of developed countries in the region.

Through the initial two fetal interventional cardiac catheterizations and first-hand observation of the seamless coordination by obstetric and pediatric experts at Tu Du and Children's Hospital 1, the Ho Chi Minh City Department of Health said several decisive factors contributed to the success of these interventions.

These include accuracy in ultrasound techniques by pediatric cardiologists at Children's Hospital 1, demonstrating precision in diagnosing fetal congenital heart lesions, serving as the crucial guide for accurate fetal cardiac catheterization intervention.

Experience and precision in fetal intervention performed by doctors from the two hospitals are also crucial factors.

The Ho Chi Minh City Department of Health views this success as an initial outcome in the specialized field of fetal congenital heart intervention.

Vietnam News Today (Jan. 14): Cold Spell to Bring Rainy And Chilly Weather to Northern Vietnam Ahead of Tet Vietnam News Today (Jan. 14): Vietnam, Indonesia eye stronger economic, trade ties; Cold spell to bring rainy and chilly weather to northern Vietnam ahead of ...

Vietnam News Today (Jan. 15): Vietnamese-made Products: Choice of Top Global Markets Vietnam News Today (Jan. 15): Swiss experts pin high hopes on PM Chinh's Davos trip; Quang Tri, Laos’ Savannakhet hold annual border conference; Vietnamese-made products: ...

Vietnam News Today (Jan. 16): Positive Economic Outlook For Vietnam in 2024 Vietnam News Today (Jan. 16): Positive economic outlook for Vietnam in 2024; Vietnamese PM’s visit to Romania marks a milestone in bilateral ties; Vietnamese people ...