Vietnam News Today (Jul. 12): Vietnam Remains Important Investment Destination in Medium, Long Terms

	Vietnam News Today (Jul. 10): Vietnam And China Strengthen Border Management And Protection
	Vietnam News Today (Jul. 11): President To Lam Sets Off For State Visits to Laos, Cambodia

At the meeting between Politburo member and President of the Ho Chi Minh National Academy of Politics Nguyen Xuan Thang and Phouvong Ounkhamsane, member of the Central Committee of the Lao People's Revolutionary Party and Director of the Lao National Academy of Politics and Public Administration in Vientiane on July 11. (Photo: VNA)

Vietnam, Laos step up cooperation in theory research, personnel training

Politburo member and President of the Ho Chi Minh National Academy of Politics (HCMA) Nguyen Xuan Thang met with Phouvong Ounkhamsane, member of the Central Committee of the Lao People's Revolutionary Party and Director of the Lao National Academy of Politics and Public Administration, and several Lao scientists in Vientiane on July 11.

The meeting took place as Thang, who also serves as Chairman of the Central Theory Council, is accompanying Vietnamese President To Lam during his state visit to Laos on July 11 and 12.

At the event, Thang praised the socio-economic achievements of the Lao Party and State, as well as the cooperation results between Vietnam and Laos in training and developing officials at various levels, and in theory research on national development and construction.

For his part, Ounkhamsane congratulated Vietnam on its recent socio-economic developments and expressed deep gratitude for the support from the Vietnamese Party and State in training and nurturing Laos’ future leaders and sharing valuable experience in national building and development, cited VNA.

The two academies agreed to further deepen and enhance their cooperation, ensuring close and effective coordination in official training and theory research and summary.

Looking ahead, both sides agreed to effectively and practically implement projects and training schemes, including the 2025 Vietnam-Laos workshop involving the two academies, the Lao Academy of Social and Economic Sciences, and the Vietnam Academy of Social Sciences. Under the theme of building an independent and autonomous economy with experience from Vietnam and Laos, it is scheduled for June 2025 in the Vietnamese central coastal city of Da Nang.

They said they are committed to strengthening experience exchange and sharing to advise their respective Parties and States on theory summary and national development, significantly contributing to the reinforcement and development of the great friendship, special solidarity, and comprehensive cooperation between Vietnam and Laos.

Complicated stormy season anticipated as El Nino fades, La Nina comes

Vietnam will brace itself for a complicated stormy season ahead as El Nino has ended its cycle and La Nina is coming soon, warned national meteorologists.

The global climate phenomenon known as El Nino – Southern Oscillation (ENSO) which comprises the El Nino and La Nina patterns has shifted to the neutral state after El Nino ended its cycle, said Mai Van Khiem, director of the National Centre for Hydro-Meteorological Forecasting.

According to Khiem, global meteorologists have all agreed that the La Nina phenomenon may develop between July and September with a probability of 65% to 75%. The weather pattern would then stay in the last months of the year and into the first months of 2025, with a probability of 80% to 90%.

With the La Nina pattern emerging, it would make the country’s stormy season more complicated, especially in the second half of the year as its arrival coincides with the local stormy season, said the director.

He cited statistics indicating that when La Nina appears, rainfall often exceeds the average recorded over previous years in the central and Southwestern coastal provinces, and stays below the average for many years in the Northern, Central Highlands, and Southeastern localities.

It’s noteworthy that there is a possibility of heavy rain battering the central region, especially in the coming autumn months, warned Khiem, according to VOV.

Powerful storms ravage central Vietnam in autumn months every year.

Between 10 and 12 storms and tropical depressions are expected to form in the Northern East Sea region from now until the end of the year, of which between five to seven storms will directly affect Vietnam.

Heavy rain will continue to fall towards the end of the year, especially in the central region, a factor increasing the risk of prolonged waterlogging, widespread flooding, flash floods, and landslides occurring in this area, warned the director.

However, the senior meteorologist said that it is too early to confirm the extreme level of the new weather pattern because storms tend to be created due to many different causes.

In the face of complicated meteorological conditions, he recommended that localities fully prepare for the weather events by reinforcing areas vulnerable to flash floods and landslides before the stormy season and heavy rain begin, to ensure people’s safety.

It is highly likely that thunderstorms and heavy rains causing urban flooding will occur more frequently, greatly impacting socio-economic development activities and people’s daily lives, said the director.

Vietnam remains important investment destination in medium, long terms: MPI

In foreign investors' eyes, Vietnam remains an important investment destination in the medium and long terms amidst the ongoing global supply chain restructuring, according to the Ministry of Planning and Investment (MPI).

The global economy is forecast to recover weakly and face numerous significant risks and challenges in 2024 due to complex developments in the post COVID-19 pandemic. Geo-political instability and the continued competition among major countries is anticipated to leave impacts on the global economy in the medium and long terms.

New standards and even interventions by some governments to guide investment activities can affect the shift of foreign direct investment (FDI). Thus, the FDI flows are forecast to increase slowly and concentrate more among the countries with geo-political linkages, especially in strategic fields, the ministry said.

However, many domestic and foreign financial institutions believe that Vietnam's FDI attraction this year will maintain a positive pace due to three factors.

First, Vietnam now has an important and increasingly reinforced role in the supply chain diversification strategy of multinationals. Second, its economic growth has recovered more positively this year. And finally, domestic and foreign financial institutions affirmed that the country has advantages in keeping steady macroeconomic growth.

Ho Chi Minh City. Photo: vneconomy

Besides, Vietnam also holds potential for investing in many pioneering industries, the MPI noted, adding that the renewable energy sector is grabbing investors' interest, with a focus on clean energy sources such as solar and wind power to enhance the electricity supply sustainability.

Investors' trust in the country has also continued to be reinforced. They believe in the Government's policies and the development future of the economy, the MPI went on.

The ministry perceived that Vietnam must overcome some bottlenecks by, for instance, quickly preparing skilled human resources, especially for the semiconductor industry.

Statistics from the MPI showed positive results in FDI attraction in the first half of 2024, cited VNA.

Vietnam attracted nearly US$15.2 billion in FDI in H1, a year-on-year increase of 13.1%. Notably, the disbursed FDI in the reviewed period hit about US$10.84 billion, a rise of 8.2% year-on-year.

The quality of investment projects has improved considerably as seen in the new investments in and expansion of large projects in the fields of semiconductor, energy, electronics, and products with high added value.

Investment capital was mostly channeled into the localities with such advantages as good infrastructure, stable human resources, improvements in administrative reforms, and dynamic investment promotion. They include Bac Ninh, Ba Ria - Vung Tau, Quang Ninh, Hanoi, Hai Phong, Ho Chi Minh City, and Dong Nai. The majority of investment came from traditional Asian partners like Singapore, Japan, Hong Kong (China), the Republic of Korea, and China.

President To Lam meets Lao Prime Minister Sonexay Siphandone in Vientiane

On July 11 morning, President To Lam had a meeting with Lao Prime Minister Sonexay Siphandone in Vientiane, as part of his ongoing state visit to the country.

The Lao leader stressed that the great and comprehensive achievements attained by the Vietnamese Party, State, and people continue to be a significant source of encouragement for Laos in its endeavors of national defense, construction, and development.

The Vietnamese state leader expressed his delight at the significant achievements that the Lao Party, State, and people have recorded in recent times, showing his belief that Laos will overcome current challenges and successfully implement the Resolution of the 11th Party Congress and the 9th socio-economic development plan for the 2021-2025 period.

The two sides expressed joy and highly valued important achievements in the bilateral cooperation across all fields, and agreed to focus on implementing high-level cooperation agreements between the two countries, especially the Vietnam-Laos Bilateral Trade Agreement, and the Vietnam-Laos cooperation strategy agreement for the 2021-2030 period.

The two countries will continue to maintain visits and meetings at all levels, positively seek solutions to difficulties and challenges, enhance the effectiveness of bilateral cooperation mechanisms, and closely coordinate on strategic issues related to security and development of each country.

Host and guest agreed to continue effectively implementing protocols and defense and security cooperation plans signed, and work closely to identify breakthrough measures to mobilize resources for economic cooperation between the two countries, towards realizing the target of 10-15% growth in two-way trade in 2024.

They highly valued the completion of several exemplary cooperation projects, and agreed to exert efforts to accelerate the development of other key projects in energy, mining, and infrastructure connectivity, WVR reported.

President To Lam meets Lao Prime Minister Sonexay Siphandone in Vientiane.

The leaders also underlined the need to create a favourable and transparent environment for investment cooperation; and promote collaboration in education – training, science and digital transformation, and cooperation between localities of the two countries, especially border ones.

Siphandone affirmed his commitment to continuing to vigorously implement high-level agreements between the two countries, particularly in economic cooperation, to bring more tangible benefits for the two peoples.

The leaders also exchanged views on regional and international issues, agreeing that amidst the rapidly changing and complex global situation, it is necessary to enhance coordination and mutual support at multilateral forums, especially the United Nations, ASEAN, and Mekong sub-regional cooperation mechanisms.

President Lam emphasized Vietnam's readiness to continue supporting Laos in successfully assuming the role of the ASEAN Chair and the President of the ASEAN Inter-Parliamentary Assembly (AIPA) in 2024, thus contributing to improving Laos's role and position in the region and the world at large.

Phu Quoc surpasses Bali to rank second among world’s 25 best islands

The Vietnamese pearl island of Phu Quoc off the coast of the Mekong Delta province of Kien Giang is placed in second position on the list of the 25 best islands to visit around the world, according to readers of the magazine Travel+Leisure of the United States.

Over 186,000 readers voted for the best islands on the planet as part of Travel+Leisure’s annual "World’s Best Awards" survey for 2024.

Kiss bridge in Phu Quoc at sunset. (Photo courtesy of Sun Group)

The Maldives, which is just as “beautiful as every picture you have seen”, tops the list with 95.63 points. This resounding sentiment was summed up by one enthusiastic reader in three words; “Paradise on Earth,” Travel+Leisure wrote.

Sneaking in at second position is the under-the-radar Vietnamese island of Phu Quoc scoring 94.41 points, said the magazine while announcing the results of the vote.

The island is an emerging tourism destination which is ultimately its greatest strength. While several beaches in Southeast Asia are developed, Phu Quoc maintains an understated tranquility, it shared.

Bali of Indonesia came third with 93.26 points. Called the “Island of the Gods”, Bali’s rich heritage can be experienced through its traditional ceremonies, old temples, and intricate dance performances.

Rounding off the list were global destinations including Milos and Crete of Greece; Dominica, Hvar, and the Dalmatian Islands of Croatia; Galápagos Islands of Ecuador; Koh Samui of Thailand; and Great Barrier Reef Islands of Australia.

Islands were specifically rated on criteria such as natural attractions/beaches, activities/sights, restaurants/food, people/friendliness, and value.

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