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Nguyen Huu Ngoc, Director for Plans and Programs at the ASEANAPOL Secretariat, chairs the meeting. (Photo: VNA)

Vietnam attends 14th ASEANAPOL Contact Persons Meeting in Malaysia

The Ministry of Public Security has sent three representatives to the 14th ASEANAPOL Contact Persons Meeting (ACPM), which was convened by the ASEAN Chiefs of Police (ASEANAPOL)’s Secretariat in Kuala Lumpur, Malaysia, on July 1.

This annual event is a crucial framework for regional police cooperation, aiming to implement commitments by ASEANAPOL regarding the coordination between the bloc’s law enforcement forces with their peers from 11 dialogue partner organizations and 12 observers.

In his opening remarks, ASEANAPOL Secretariat Executive Director David Martinez Vinluan highlighted the meeting's pivotal role in strengthening partnerships and devising robust strategies to combat global security threats.

He called for close coordination among member countries to ensure a peaceful and safe Southeast Asia, cited VNA.

Lasting until July 5, the ACPM is set to deliberate on strategic cooperation in combating transnational organized crime within the Association of Southeast Asian Nations (ASEAN). Key areas of focus include compiling reports assessing the related situation and trends, implementing initiatives for cooperation in training and enhancing law enforcement capacities among member states' police forces, and expanding strategic partnerships with international organizations sharing common goals in the matter.

In 2023, in collaboration with its dialogue partner organizations and observers, the secretariat coordinated over 30 face-to-face and 14 online training courses for 620 police officers from member countries.

Vietnam and RoK ink natural resources and environment cooperation documents

Vietnam and the Republic of Korea on July 1 signed a number of memorandums of understanding on cooperation in the fields of the environment, water resources, biodiversity, and resource recycling.

The signing of MoUs took place following talks between Vietnamese Minister of Natural Resources and Environment Dang Quoc Khanh and RoK Environment Minister Han Wha-jin in Seoul on the same day.

The two ministers discussed issues, including developing a specific climate action cooperation plan; supporting the development and implementation of the legal institutional framework on water resources; improving the efficiency of use and operation of water infrastructure; and promoting biodiversity cooperation.

They also talked the expansion of industrial and green technology cooperation, and the possibility of establishing an environmental unit at the RoK Embassy in Hanoi.

The two Ministers agreed to create conditions for Korean experts to work alongside Vietnamese counterparts and promote cooperation projects, including transferring policy experience and proposing solutions to issues such as resource support and human resource training, according to VOV.

An overview of the Vietnam - RoK Environment Ministers' Meeting in Seoul on July 1.

The same day, the two Ministers co-chaired a Vietnam – RoK Environment Ministers’ Meeting to evaluate the results of cooperation and examine priority cooperation areas between the two ministries in the coming time.

Khanh expressed hopes the Korean side would support Vietnam in managing water resources, including groundwater management and use, salinity intrusion, drought, and water security.

The two Ministers noted that cooperative activities between the two countries have been carried out effectively, especially in the fields of climate change, biodiversity, and water resources management, environmental pollution control and human resource development.

Han expressed her belief that future cooperation between the two sides would become more effective and more practical in the context that the two countries have already upgraded their relationship to a comprehensive strategic partnership.

New order growth surges to near-record high: PMI

The Vietnamese manufacturing sector expanded sharply at the end of the second quarter with new orders rising at one of the fastest rates on record, prompting firms to ramp up production and purchasing activity, according to S&P Global.

The S&P Global Vietnam Manufacturing Purchasing Managers’ Index (PMI) rose sharply to 54.7 in June from 50.3 in May, not only signaling a third consecutive monthly improvement but also indicating that business conditions strengthened markedly.

The improvement was the joint-strongest since November 2018, equal with those seen in April 2021 and May 2022.

However, the strength of the rise in new orders put pressure on operating capacity with backlogs of work increasing for the second time in three months.

Andrew Harker, economics director at S&P Global Market Intelligence, said: “The Vietnamese manufacturing sector burst into life at the midway point of the year, shrugging off the relatively modest growth seen in recent months thanks to a rapid increase in new orders.

"The strength of the expansion in new work highlighted staff shortages at some firms and resulted in an accumulation of outstanding business. In response, firms took on additional staff at a solid pace," Harker said.

He also noted the growth spurt was accompanied by higher cost burdens, with increased transportation costs in particular acting to push input price inflation to a two-year high, VNS reported.

Production at SCAVI Hue in Thua Thien - Hue Province. The S&P Global Vietnam Manufacturing Purchasing Manager’s Index (PMI) rose sharply to 54.7 in June from 50.3 in May. Photo: VNS

"Rising inflation could act to dampen demand further down the line, but for now firms will be enjoying the influx of work experienced in June,” he said, adding the rate of input cost inflation also quickened, hitting a two-year high on the back of higher transportation and oil prices in particular. In turn, firms also increased their own selling prices at the fastest pace since June 2022.

The report also pointed out that the prospect of favorable business conditions continuing supported confidence in the year-ahead outlook for manufacturing output. Sentiment hit a three-month high as around half of respondents predicted an expansion.

Northern Vietnam braces for days of heavy rain and potential storms

Starting from the evening of July 2, Northern Vietnam will experience heavy rainfall lasting for approximately 2-4 days, according to the National Center for Hydro-Meteorological Forecasting.

In addition, the East Sea is expected to witness 1-2 storms or tropical depressions in July, which may affect the mainland.

The National Center for Hydro-Meteorological Forecasting has reported that the average temperature across the country in July will generally be 0.5-1 degrees higher than the long-term average for this period. Rainfall is expected to be consistent with the historical averages.

In July, the East Sea is projected to experience 1-2 storms or tropical depressions, with a possibility of these weather systems impacting the mainland.

In the Central region, the ongoing heat wave is expected to persist. However, for the North, the heat is anticipated to subside by July 2, with a possible resurgence in the last 20 days of the month.

During the forecast period, the North, North Central, Central Highlands, and South regions will experience showers and thunderstorms on multiple days, cited VNN.

The North is set to experience heavy rainfall from July 2, lasting 2-4 days. Photo: Le Quan

Notably, the North, Central Highlands, and South regions are likely to encounter moderate to heavy rain lasting about 2-4 days.

The meteorological agency has advised vigilance against thunderstorms, tornadoes, lightning, and hail across the country.

From July 2 to 4: Moderate to heavy rain and thunderstorms are expected in the mountainous and midland areas of the North, with rainfall between 40-80mm and localized areas receiving over 150mm. The Northern Delta will also see showers and thunderstorms with rainfall ranging from 15-30mm, and some areas exceeding 80mm. This will likely bring an end to the current heat wave in the North by July 3.

From July 4: Gradual reduction in heavy rain in the mountainous and midland areas. From July 5-7, the North will experience scattered showers and thunderstorms in the evenings and nights, with localized heavy rain.

In the Central and Southern Regions

Nghe An to Quang Ngai: Continued heat wave with temperatures between 35-37 degrees Celsius, and some areas exceeding 38 degrees.

South Central Region: Scattered showers and thunderstorms expected in the afternoons and evenings from July 4-5, with some areas experiencing heavy rain.

Central Highlands and the South: Sunny days with scattered showers and thunderstorms in the afternoons and evenings, some areas may see heavy rain.

As Vietnam braces for this period of intense weather, residents are advised to stay updated with the latest forecasts and take necessary precautions to ensure safety and minimize disruption.

Int’l organizations share a positive outlook for Vietnam’s economy

Vietnam's economy is experiencing a surge, fueled by strong export and industrial production, according to a series of reports from international organizations.

The International Monetary Fund (IMF) expressed optimism in its 2024 Article IV consultation with Vietnam. Its head Paulo Medas predicted a nearly 6% growth for the Vietnamese economy in 2024, supported by robust external demand, stable foreign direct investment (FDI), and recent policy adjustments. Inflation is expected to stay within the State Bank of Vietnam (SBV)'s target range of 4-4.5% this year.

The fund welcomes Vietnam's efforts to streamline the real estate sector by amending the Land Law and other related regulations, he said, stressing the need for Vietnam to continue restructuring struggling property developers and fostering a healthy corporate bond market.

The Standard Chartered Bank released an update projecting Vietnam's GDP growth at 5.3% in the second quarter. Its experts forecast significant growth in retail sales (8.2% year-on-year) and exports (14.2%) for June. The electronics export sector is expected to maintain its upward trajectory throughout the year.

Import growth and industrial production are anticipated to reach 26% and 5.2%, respectively, in June. Inflation may rise slightly to 4.5% from 4.4% in May, marking the third consecutive month it stayed above 4%. Rising costs in education, housing, health care, and food are driving this inflation, and the trend is likely to continue in the coming months, cited VOV.

Photo: VOV

A World Bank (WB) report dated June 19 indicated a 2.6% month-on-month increase in Vietnam's industrial production index (IIP) for May. This growth was primarily driven by the manufacturing and processing sectors, particularly machinery, equipment, computers, and electronics. The report highlighted a notable rise in the import of intermediate goods, suggesting strong demand from trade partners and potentially even higher export levels in the near future.

As of late May, FDI commitments reached US$11.07 billion, reflecting a 2% year-on-year rise. Cumulative FDI disbursements also saw an uptick, reaching US$8.3 billion (up 7.8% annually), with most flowing into manufacturing, processing, and real estate.

Meanwhile, the Asian Development Bank (ADB) reported a 7.7% growth in Vietnam's local currency bond market in the second quarter compared to the previous one, which was attributed to increased government bond issuances and the SBV's resumption of issuing treasury bills in March. Treasury and other government bonds rose by 3.3% in Q2 to support government funding needs. In contrast, corporate bonds fell by 0.9% due to a large volume of maturing bonds and low issuance volume.

Vietnam's sustainable bond market, comprised primarily of green bonds issued by individual enterprises, reached a size of US$800 million by the end of March. Most of them have short maturities.

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