Vietnam News Today (Jul. 15): Thailand, Vietnam Augment Locality-to-locality Cooperation

	Vietnam News Today (Jul. 13): Vietnam, Cambodia Set For New Stage in Relations
	Vietnam News Today (Jul. 14): Vietnam Attends 14th Annual East Sea Conference in US

Vietnamese Ambassador Pham Viet Hung (L) to Thailand at the meeting with the Governor of Thailand's Trat province, Nattaphong Sanguanchit.

Thailand, Vietnam augment locality-to-locality cooperation

Vietnamese Ambassador to Thailand Pham Viet Hung had a host of working sessions in recent times with the Governors of Thailand's eastern provinces of Trat, Chanthaburi and Chonburi.

At the working sessions, Ambassador Pham Viet Hung expressed his honor to serve as Ambassador to Thailand, an important and close neighbor of Vietnam, as well as an important partner in economics and tourism and people-to-people exchanges. He also showed a desire to contribute to stepping up cooperation between the two countries as well as boosting ties among localities.

Showing his elation at the fact that Vietnam and Thailand have 19 pairs of localities having a twin relationship, the Vietnamese diplomat said he hoped that localities of the two sides would actively intensify delegation exchange activities, and properly carry out signed agreements and documents with a view to enhancing exchanges and cooperation in investment, trade, and tourism in a more substantive and effective manner, cited VOV.

Hung affirmed that the Vietnamese Embassy in Thailand always stays ready to support and engage in Vietnam-Thailand delegation exchange and locality-to-locality connection activities.

In response, the Governors of Thailand's eastern provinces all expressed their desire to strengthen cooperation and connection with Vietnamese localities in industry, human resource, and tourism development, especially sea tourism.

Vietnam, China’s Hong Kong see significant cooperation potential

Vietnamese Consul General in Hong Kong and Macau Le Duc Hanh and Chief Executive of Hong Kong Special Administrative Region (China) John Lee have recognised the vast potential for cooperation between the two sides, particularly in green finance, innovation, science-technology, human resource training, healthcare, and high-quality labor exchange.

Vietnamese Consul General in Hong Kong and Macau Le Duc Hanh (left) had talks with Chief Executive of Hong Kong Special Administrative Region (China) John Lee. Photo: VNA

At a reception for the Vietnamese diplomat who paid a courtesy call on the Chief Executive on July 12, Lee praised the bilateral cooperation in recent times, particularly Hong Kong’s easing of work visas for Vietnam as well as increasing student exchanges and trade-investment promotion with the Southeast Asian nation.

For her part, Hanh said the relationship between the two sides is special, based on historical ties, cultural similarities, and geographical proximity. Vietnam and Hong Kong are also significant economic partners of each other, according to VNA.

The diplomat held that encouraging legal labor sources and imposing sanctions on employers who hire illegal workers could address the issue of illegal immigration. She also proposed Hong Kong continue to relax visa requirements for Vietnamese citizens for the benefit of both sides.

Lee acknowledged that, despite some challenges, particularly regarding illegal immigration, the two sides have made continuous efforts to find solutions and promote cooperation, achieving many positive outcomes. He expressed his confidence that the relationship will continue to develop healthily and stably in the future.

The Vietnamese Consul General affirmed that during her tenure, she will build on the achievements and further promote the comprehensive development of the Vietnam - Hong Kong relationship.

Exports to US likely to enjoy constant growth in second half

With US$54.3 billion in export earnings, the US represented Vietnam's largest export market in the first half of 2024, and exports to the highly lucrative market are forecast to see continued growth in the time ahead.

According to the General Statistics Office, Vietnamese exports to the US reached US$54.3 billion, up 22.1% on-year, ranking first in turnover growth rate, and surpassing other markets such as the EU, ASEAN and the Republic of Korea (RoK).

In the opposite direction, imports from the US stood at US$ 7.1 billion, marking a year-on-year rise of 2.8%, while trade surplus was estimated at US$47.2 billion.

Vietnam currently has 8 export items to the US worth over US$10 billion, including computers and components at more than US$10 billion, and textiles and garments at US$6 billion. With such a growth rate, two-way trade turnover may soon exceed the US$100 billion mark this year.

As for wood products, the US currently accounts for about 53% of Vietnam's total export turnover. Among 33 cashew export markets, the US is also Vietnam’s largest cashew consumer with 93,105 tons, up 24% over the same period from last year and accounting for 26% of the Southeast Asian nation’s total cashew exports, reported VOV.

Computers and electronic components are among the key products with high export turnover to the US market.

According to the General Department of Customs, Vietnam's cashew export turnover soared by 18.7% over last year’s corresponding period to US$1.94 billion in the first half of this year.

Tran Minh Thang, head of the Vietnam Trade Office Branch in San Francisco said that Vietnam is the 8th largest trading partner of the US, with the 3rd largest trade surplus just behind China and Mexico.

In the second half of 2024, the US's GDP growth may reach 1.5% before increasing to 1.7% in 2025, and inflation will remain stable at 2.5%, therefore, the Federal Reserve System (FED) will loosen its monetary policy in the second half of 2024, Thang went on.

Tran Thanh Huyen, head of the Investment Department of VinaCapital analyzed that an important component of the purchasing managers' index (PMI) is the new orders index. This index hit a near record high of 59.2 points, the highest level over the past 13 years which indicated the recovery prospects of the manufacturing industry with returning orders.

"The recovery prospect of the manufacturing industry is the return of export orders, most of which come from the US market," Huyen added.

According to expert assessments, retail businesses in the North American nation are ending the inventory clearance period and returning to ordering. Additionally US people's income is increasing again coupled with growing consumption which will boost purchasing activities of importers and drive Vietnamese exports up again.

Concerning exports activities in general, Ass .Professor Dr. Dinh Trong Thinh - economic expert - said that new export orders in the manufacturing sector will continue to increase in the time to come.

“The FED may lower interest rates soon but the reduction will not be more than 0.5%. A slight depreciation of the USD will not greatly impact Vietnam's socio-economic development, investment and imports-exports", Thinh said.

Vietnamese flavors spotlighted at culinary week in Jakarta

JW Marriott Jakarta is hosting a Vietnamese culinary week themed "Vietnamese flavors” in the Indonesian capital from July 12 to 20.

The event originates from the idea of the hotel’s culinary director, who recognised the unique appeal of Vietnamese cuisine. Subsequently, Marriott Asia chose JW Marriott Da Nang to collaborate in organizing the first Vietnamese culinary week in Jakarta.

Marketing Director of JW Marriott Jakarta Stella Rizki stated the organization of the event caters to the growing wave of tourists from Jakarta to Vietnam. Vietnamese food is globally renowned and much loved by Indonesians, cited VNA.

Vietnamese dishes served at the event in Jakarta (Photo: VNA)

She said that chefs from JW Marriott Da Nang have brought the authentic flavors of Vietnam to Jakarta and that support from the Vietnamese Embassy and Vietjet Air has helped make this event possible.

Vietnamese chef Nguyen Ngoc Thinh from JW Marriott Da Nang said that the dishes selected are signature and famous ones from all three regions of Vietnam, with ingredients brought from the country to ensure their authentic taste.

Fireworks festival puts Da Nang on the map as top tourist destination

The grand finale of the DIFF 2024, themed "Made by Young Generation - Rhythm of the Future," concluded with Finland emerging as the winner.

The intense showdown between Finland and China turned Da Nang into a hot destination, attracting a large influx of tourists during the summer.

Chairman of the Da Nang People's Committee, Le Trung Chinh, emphasized that since 2008, the Da Nang International Fireworks Festival (DIFF) has become a distinct and captivating event, drawing tourists to the city.

The Da Nang Department of Tourism reported that the fireworks festival significantly boosted the city's tourism sector. Preliminary statistics indicate that there were 455 flights to Da Nang in the three days leading up to the final night of the DIFF 2024. On July 12 alone, there were 162 flights to the city, marking a more than 40% increase compared to regular days, cited VNN.

Chairman of the Da Nang People's Committee, Le Trung Chinh, presented awards to the champion and runner-up teams of DIFF 2024. Photo: Nghia Vo

On the day of the final (July 13), the number of guests registered at accommodation facilities in the city exceeded 90,000 (including about 30,000 international guests). The occupancy rate of rooms reached over 95%. Additionally, tickets for the fireworks show, with a seating capacity of over 10,000, sold out several days in advance.

According to the organizers, DIFF 2024 involved hundreds of billions of VND in investment across all stages, taking nearly a year of planning, preparation, and organization, with contributions from approximately 2,000 people. Over the course of more than a month and five nights of competition, the DIFF 2024 has established itself as the focal point of an explosive summer in Da Nang, helping the city become an attractive tourist destination for both domestic and international visitors.

Chairman Le Trung Chinh stated: "Since its inception in 2008, the Da Nang International Fireworks Festival has become a unique and captivating event for the city. Additionally, the city continuously reinvents itself with new cultural and tourism products, ensuring that every visitor experiences the festive and vibrant atmosphere that permeates this beautiful and dynamic coastal city."

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