Minister of Environment and Natural Resources Dang Quoc Khanh (first from left ), SBV Governor Nguyen Thi Hong (second from left) and US Secretary of the Treasury Janet Yellen (second from right) at the meeting in Hanoi on July 21. (Photo: nhandan.vn)

Vietnam, US talks climate finance solutions

Vietnamese and US officials discussed economic outlooks and climate finance at a meeting held by the State Bank of Vietnam (SBV) and the Foreign Trade University (FTU) in Hanoi on July 21.

The event was part of an official visit to Vietnam by US Secretary of the Treasury Janet Yellen.

Speakers at the meeting pointed out that the world economy is still facing numerous difficulties in the post-COVID-19 pandemic period, including high and persistent inflation, the trend of tightening monetary policies, disrupted supply chains, growth slowdown, and recession risks. Besides, countries also have had to cope with challenges posed by climate change.

These problems have been negatively affecting enterprises' production and business activities as well as people’s life quality, they said.

SBV Governor Nguyen Thi Hong said the central bank of Vietnam is always steadfast in the target of controlling inflation, stabilising the macro-economy, and ensuring safety for the banking system. To that end, it has kept a close watch on the situation, proactively used measures and tools at appropriate levels and points of time, identified the focus of each period to take suitable actions, and closely coordinated the monetary policy with the fiscal and other macro-economic policies.

Meanwhile, Yellen said the US is pursuing policy priorities that aims to strengthen the resilience of supply chains and promote strong and comprehensive growth, and that it is ready to cooperate with Vietnam to overcome challenges and develop their economies.

Talking about climate change response measures, Vietnamese Minister of Natural Resources and Environment Dang Quoc Khanh described climate change as an irreversible trend and the most serious challenge to humanity at present. Climate change response therefore is becoming one of the priorities of all development decisions in the world, cited VNA.

As one of the countries hit hardest by climate change, Vietnam has played an active and responsible role in reducing greenhouse gas emissions and adapting to this global phenomenon. It has also taken steps to adopt a green development model. The country made a commitment to achieving net zero emissions by 2050 at the 26th UN Climate Change Conference (COP26) and recently approved a political declaration on the establishment of the Just Energy Transition Partnership (JETP) with G7 and non-G7 partners, he went on.

Yellen held that to minimise adverse impacts of climate change, countries will need a lot of time and resources, adding the US attaches importance to the role of multilateral development banks (MDBs) and the private sector in mobilising finance for climate change response projects and programmes.

Meanwhile, Hong noted as an important source of finance for the economy, the banking sector of Vietnam is always aware of its role in providing funding for the realisation of the Sustainable Development Goals.

She shared Yellen’s view that countries can diversify capital sources for “green” projects through MDBs like the World Bank (WB) and the Asian Development Bank (ADB) to use long-term loans with reasonable costs to resolve climate change challenges.

The meeting, which attracted over 300 participants including many female officials and FTU students, affirmed women’s role and attention as well as young people’s awareness and determination to join hands to cope with such global challenges as climate change to achieve a greener society and a sustainable and prosperous future for all.

PM pushes for closer Vietnam – Laos healthcare cooperation

Prime Minister Pham Minh Chinh suggested enhancing healthcare cooperation between Vietnam and Laos, during his reception for Lao Minister of Health Bounfeng Phoummalaysith in Hanoi on July 21.

Chinh requested that the Ministries of Health of Vietnam and Laos further exchange experiences, especially in promoting digital transformation and telemedicine services, strengthen human resources training, and consider amending the joint agreement on border health quarantine suitable to current circumstances.

He asked the two ministries to coordinate, guide and provide professional support to ensure the efficient operation of the Vietnam - Laos friendship hospitals in Houaphanh and Xiangkhouang as soon as they are put into operation.

The PM also suggested that the two sides continue to coordinate and support each other at regional and international forums in the field of health.

During the meeting, Chinh highly appreciated the effective cooperation in health care between the two countries in recent times, especially in medical examination and treatment, human resources training and disease control, according to VOV.

Vietnamese Prime Minister Pham Minh Chinh (R) receives Lao Minister of Health Bounfeng Phoummalaysith in hanoi on July 21. (Photo: VGP)

During the pandemic time, the two countries strongly supported each other by donating vaccines and medical supplies, sharing experiences and sending experts to each other, helping the two countries step by step control the pandemic, he noted.

Minister Bounfeng Phoummalaysith for his part briefed his host on the results of his working session with Vietnamese Minister of Health Dao Hong Lan, saying Laos wishes to further enhance cooperation with Vietnam and welcome Vietnamese investors in the healthcare sector, with a primary focus on human resource training, traditional medicine, and construction of the Vietnam - Laos Friendship Hospital in Houaphanh province.

He said the Lao Ministry of Health would work closely with the Vietnamese Ministry of Health to implement specific programmes, projects and cooperation activities as suggested by Prime Minister Pham Minh Chinh, contributing to further promoting the great friendship, special solidarity and comprehensive cooperation between the two countries.

World media appreciates Vietnam’s performance at FIFA Women’s World Cup

The world media on July 22 ran articles appreciating Vietnam’s performance in their first match at the ongoing FIFA Women’s World Cup 2023, although they lost 0-3 to the reigning US champions, VNA reported.

On its website, the Asian Football Confederation (AFC) wrote: “Vietnam produced a steely performance as defending champions the United States were made to work hard for a 3-0 win”.

“Tournament debutants Vietnam frustrated the four-time champions with their disciplined and resolute defending and will look forward to their remaining matches with confidence,” it added.

Michael Cox, a British journalist and author who provides football analysis for the UK branch of The Athletic, wrote: “Fair play to Vietnam coach Mai Duc Chung. A more positive and competitive display than could have reasonably been expected so far, AND he was keeping track of stoppage time with an actual stopwatch”.

The US-based The Athletic also dedicated a part of the match summary to comment on the World Cup debut of the Vietnamese team. Author Jeff Rueter wrote that: “In 2019, the United States opened its World Cup with a headline-grabbing 13-0 win over Thailand. For people who don’t follow international soccer, they may have expected a similar opener against Vietnam, which was making its Women’s World Cup debut. On Friday that was exposed as somewhat naive — after all, Vietnam played tournament favorite Germany close in a narrow 2-1 defeat just a couple months ago. Even after conceding in the opening 15 minutes, they held their own against the United States by often keeping ten defenders between the ball and goal during build-up play and fighting for every challenge”.

Vietnamese footballers (red) in their first match against US rivals at the FIFA Women’s World Cup 2023. (Photo: VNA)

“Ultimately, there wasn’t a storybook ending for this first World Cup game. It’s hard to imagine a much tougher draw than the two-time defending champion, but the tournament newcomers did themselves proud with a vocal contingent of supporters whose cheers of pride could be heard on the broadcast every time they progressed up the field,” Rueter added.

“This was expected to be an easy one for the US women, and while Vietnam put up a stubborn defense with a few good goalkeeping moments, it was indeed pretty easy,” according to an article posted on The Guardian.

FIFA also praised goalkeeper Thanh’s performance. “Tran Thi Kim Thanh take a bow. The Vietnamese keeper has had a sensational first half and now saves an Alex Morgan penalty on the stroke of half-time!” the world football governing body wrote on its Twitter.

Vietnam will play against Portugal on July 27.

Filipinos become biggest average spenders on trips to Vietnam

Tourists from the Philippines make up the biggest spenders, with their spending rising from US$1,124 in 2017 to US$2,257 in 2019 per trip during their trip to Vietnam.

The figures were recently released in the Statistical Yearbook, an annual publication by the General Statistics Office.

The Philippines is one of the markets with the number of visitors to Vietnam rising by 10% month-on-month, according to the publication.

Among high-spending markets, Belgian tourists ranked second, spending an average of US$1,995. They were then followed by tourists from the United States with US$1,709, Australia with US$1,416, Denmark with US$1,383, Norway with US$1,346, the Netherlands with US$1,317, Canada with US$1,315, the UK with US$1,212, and Germany with US$1,283.

In the opposite direction, Lao tourists made up the group spending the least with an average of about US$343 each trip. Others to feature in the list were tourists from Japan with US$972, Malaysia with US$900, China with US$884, Thailand with US$846, and the Republic of Korea with US$838.

The statistics also showed the various spending categories of tourists during their trip to the nation, including accommodation, food services, sightseeing spots, shopping, medical services, and a few other expenses, cited VOV.

Foreign tourists go shopping at a traditional market in Vietnam. (Photo: Cong Binh/Dan tri)

From March 2022, Vietnam officially opened to tourism after a period of temporary closure caused by the COVID-19 pandemic. However, the number of international visitors to the country in 2022 only reached about 3.6 million, or one fifth the figure recorded in 2019 before the COVID-19 pandemic broke out.

This year Vietnam has set a target of welcoming eight million foreign arrivals. In the first half of this year, the nation welcomed around 5.6 million international tourists, equal to two-thirds of the annual target.

The Republic of Korea still makes Vietnam’s biggest tourist market. Other markets bringing large numbers of visitors to the country include China, Taiwan (China), the US, Malaysia, Japan, Singapore, Cambodia, Thailand, and Australia.

The Statistical Yearbook, an annual publication by the General Statistics Office, comprises of basic data reflecting the general socioeconomic dynamic and situation of the whole country, socio-economic regions, and localities.

There are also selected statistics of countries and territories worldwide in order to provide reference information for data users’ studies and international comparison.

Vietnam considered potential market for foreign agricultural products

Importing countries have organized a series of trade promotion activities to increase exports as they considered the Vietnamese market as a highly potential one for agricultural products.

Vietnamese people have favored agricultural products imported from the US, Australia, New Zealand, and Japan despite their extremely high prices.

While answering the phone and recording orders for customers, trader Ngo Thi Hong Oanh in Le Quang Dinh Street in Ho Chi Minh City’s Binh Thanh District said that imported cherries, apples, and plums from the US, Italy, and New Zealand have all been sold very well. Though the prices of foreign-grown fruits are high, a lot of customers still buy them. Not only do Ho Chi Minh City dwellers prefer imported fruits, but people in all corners of the country also love eating them as she received many orders of 300-400kg of fruits to other provinces every week, said Oanh.

Meanwhile, trader Nguyen Van Trieu in Quang Trung Street in Go Vap District, said that many imported products such as Japanese beef, sturgeon eggs, scallops, and Australian abalone been well consumed. Moreover, purchasing power in the past 2 months has increased by 10 percent-30 percent compared to previous months.

According to Vo Tan Thanh, Chairman of Nam An supermarket, Vietnamese consumers have been fancying imported agricultural produce especially fruits which are sold in a short time.

Statistics from the Plant Protection Department under the Ministry of Agriculture and Rural Development show that Vietnam's fruit and vegetable imports in 2022 are estimated at over US$2 billion, up 35 percent compared to 2021.

Particularly from the beginning of the year to June 15, more than 22 million tons of agricultural products imported from countries were quarantined by responsible agencies. Of 22 tons, more than 600,000 tons are fruits of various kinds. Specifically, the Southeast Asian country is ranked 7th among the importing countries of agricultural, forestry and fishery products from Australia.

Over the past time, Australia has exported a lot of fresh fruits such as grapes, peaches, oranges, tangerines and apples to Vietnam. According to the Australian Embassy in Vietnam, in 2022, the country earned more than AUD110 million (US$74 million) from selling fruits to Vietnam. In addition, Australia also conducts trade promotion programs associated with major food and beverage events in Vietnam, such as the Food and Hotel Vietnam event.

Every year, the Australian Government sponsors the ‘Taste of Australia’ program to showcase their world-class dishes and drinks and conduct many promotions at MM Mega Market, An Nam Gourmet and WinMart supermarket chains, SGGP reported.

Vietnamese people have favored agricultural products imported from the US, Australia, New Zealand, and Japan.

According to the report of the Institute of Policy and Strategy for Agriculture and Rural Development, which has just been released in June, Vietnam spent about US$5.8 million in the first 5 months of the year to import vegetables and fruits from Europe, up 98.6 percent compared to May 2022 and US$1.7 million higher than the monthly average of 2022. Surprisingly, foreign potatoes are the favorite of Vietnamese people who spent US$1.7 million buying it while they spent US$0.34 million buying cherries, 44.5 times higher than in May 2022.

Recently, the New Zealand Embassy in Vietnam had a promotion session for this country's fruits at Vincom Center Landmark 81 in HCMC which many large retailers and businesses in Ho Chi Minh City attended. Representatives of supermarket systems such as Aeon Mall, and Central Retail admitted that imported agricultural products are selling well in the country as more and more Vietnamese consumers are taking heed of their health condition and nutrition especially young families paying more attention to organic food for their children.

According to the New Zealand Embassy in Vietnam, the country is officially importing apples, kiwis, cherries, blueberries, persimmons, and apricots. Although there are no detailed statistics, the reality shows that imported fruits from New Zealand are popular and gradually increasing in recent times. Currently, importing companies are also continuously applying for permits to import new products from the country.

Similarly, the American Fruit Association in Vietnam announced Vietnam is the third-largest import market for apples and grapes from the US. According to many agribusiness enterprises, Vietnamese people could buy foreign fruit products from large supermarkets a few years ago, they can now take their favorite fruits at shops, traditional markets, and small supermarkets.

Vietnam not only imports agricultural produce from markets such as Australia, New Zealand, the US but also buys a lot of fruits from Japan such as Mikan tangerine, Peony grape - a purple-skinned, table and rosé wine grape variety, Sunmo Citrus, Momo peach, Ruby mango and South Korea such as Korean grape shine muscat, pear melon, brown pear, honey tomato.

According to agricultural experts, over the past time, several Vietnamese agricultural products have gradually entered international markets, but middle and high-class agricultural products from other countries have also poured into Vietnam through regular and continuous promotion and cooperation programs.

In this regard, Dang Phuc Nguyen, Secretary General of the Vietnam Fruit Association (Vinafruit) said that Vietnamese agricultural products need to improve their quality and packaging design to satisfy customers' tastes in a bid to compete with imported goods and win the domestic market.

Benjamin Petlock, senior agricultural attaché at the U.S. Consulate General in HCMC revealed that the US will export grapefruit (brand new) to Vietnam in the upcoming time.

He added that the two countries are negotiating to trade many other products, of which the US will export peaches and plums to Vietnam. More than 5 years ago, Vietnam was the 12th largest import market of the United States, and now it has risen to the 8th among the importing countries of American agricultural products proving that the Vietnamese market is very potential.

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