Vietnam News Today (Jul. 24): Vietnamese and Tanzanian Businesses Explore Investment Promotion Opportunities

Vietnam News Today (Jul. 24): Covid-19: Additional 1,071 cases recorded on July 23; Vietnamese and Tanzanian businesses explore investment promotion opportunities; Fair treats visitors to Hanoi’s OCOP goods, farm produce; Vietnam becomes world’s sixth largest fibre, yarn exporter.
July 24, 2022 | 09:26

Vietnam News Today (Jul. 24) notable headlines

Covid-19: Additional 1,071 cases recorded on July 23

Vietnamese and Tanzanian businesses explore investment promotion opportunities

Fair treats visitors to Hanoi’s OCOP goods, farm produce

Vietnam becomes world’s sixth largest fibre, yarn exporter

Revolutionary contributors to be honored on War Invalids and Fallen Soldiers’ Day

Vietnam to attend 55th ASEAN Foreign Ministers' Meeting in Cambodia on August 2-6

Hanoi takes actions to preserve, restore traditional trade villages

HCM City expands pedestrian streets to 22 routes

12th grader Hanh wins gold at International Chemistry Olympiad

Illustrative image. Photo: VNA
Illustrative image. Photo: VNA

Covid-19: Additional 1,071 cases recorded on July 23

The national caseload of Covid-19 reached 10,767,200 on July 23 with 1,071 new cases reported in the past 24 hours, according to the Ministry of Health.

A total 9,328 Covid-19 patients were given the all clear on the day, bringing the number of recoveries so far to 9,851,504. There are 37 patients in serious conditions needing breathing support, cited VNA.

No death from Covid-19 was recorded in the past 24 hours. The total fatalities stood at 43,092.

On July 21, 822,240 doses of vaccines were administered, raising the total number of doses of Covid-19 vaccines injected to 242,303,027.

Vietnamese and Tanzanian businesses explore investment promotion opportunities

Over 80 representatives from various ministries and sectors attended the recent Vietnam - Tanzania Investment Forum which was held in both in-person and online platforms.

The event was organized by the Embassy of Vietnam in Tanzania in collaboration with the Tanzania Investment Center (TIC), the Institute for Africa and Middle East Studies (IAMES), and the Vietnam - Africa Economic Cooperation Alliance (VAECA).

As part of his address at the event, Vietnamese Ambassador to Tanzania Nguyen Nam Tien affirmed that both sides boast huge potential for broader co-operation and enjoy complementary advantages for mutual development.

“Tanzania is an area capable of meeting Vietnam's needs in terms of raw material and fuel supply sources, and diversifying export markets for goods, services, human resources and investment," the Vietnamese diplomat stated.

According to the Ambassador, the two sides have created a legal framework which serves as a basis for co-operation, adding that many Vietnamese enterprises have been looking for investment opportunities in the African country.

However, the Ambassador also assessed that the economic and trading ties between the two remain modest and below their full potential. He expressed his desire that through this networking forum, businesses from the two countries will be able to take full advantage of opportunities, promote their respective strengths, and overcome all difficulties and challenges in a bid to enhance exchanges to achieve many effective and practical co-operation projects in the future.

Ambassador Tien affirmed that the Vietnamese Embassy in Tanzania has been and remains ready to serve as a bridge for closer ties between the business communities of the two countries.

Vietnamese Ambassador to Tanzania Nguyen Nam Tien speaks at the event. Photo: VOV
Vietnamese Ambassador to Tanzania Nguyen Nam Tien speaks at the event. Photo: VOV

During the course of the forum, a representative of the TIC introduced policies, investment opportunities, and incentives for foreign investors, while the director of the Export Processing Zone (EPZ) Management Board mentioned incentives in special economic and export processing zones.

Discussing the investment potential for the cashew value chain, a representative of the Cashew Board of Tanzania (CBT) outlined that Tanzania has an available land fund to build factories with cheap labour, whilst enjoying many incentives for more than 80% of processed cashew nuts for exports, according to VOV.

Furthermore, representatives of a number of agencies such as the Tanzania Port Authority, and the Tanzania Agricultural Research Institute (TARI) introduced and shared information about Mtwara port infrastructure, along with the role of the Institute in the cashew value chain.

In response, Vietnamese representatives shared the potential and capacity of Vietnamese enterprises in Tanzania.

Business representatives from both nations then spent time exchanging and raising questions about issues of shared concern related to co-operation and investment in the field of cashew.

Fair treats visitors to Hanoi’s OCOP goods, farm produce

Businesses and agencies are operating 140 stalls at a trade fair promoting agricultural and One Commune, One Product (OCOP) goods of Hanoi and other localities, which opened in the capital’s Hoan Kiem lake pedestrian area on July 22’s evening.

Participating in the event are 29 provinces and cities nationwide, including Ha Giang, Bac Kan, Lang Son, Tuyen Quang, Quang Ninh, Lao Cai, Yen Bai, Dien Bien, Son La, Bac Ninh, Ha Nam, Hai Phong, and Hung Yen. Of the total stalls, 20 are from Hung Yen and 15 from Nghe An.

In particular, the host Hanoi is introducing visitors the local coffee, milk and yogurt, herbal tea, and handicrafts, among others.

The neighboring province of Hung Yen, meanwhile, has brought to the show honey, lotus seeds, longan, dried banana products, Dong Tao chicken, and curcumin powder.

The northern province of Bac Kan is showcasing its tea, honey, and wax gourd, while Gia Lai, Lam Dong, and Dak Nong are running stalls offering coffee, macadamia nuts, strawberry juice, and raspberry juice.

Speaking at the opening ceremony, Director of the Hanoi Centre for Investment, Trade and Tourism Promotion Nguyen Anh Duong stated the key trade promotion programme is expected to be an opportunity for participating units to popularise their products among tourists and consumers in Hanoi.

According to Duong, it aims to support enterprises involved to develop production, connect consumption, stimulate shopping, and develop the domestic market, in contribution to ensuring social security.

At the event. Photo: VNA
At the event. Photo: VNA

Through this activity, the centre will support businesses to introduce and connect OCOP products to OCOP points of sale in the capital city, creating chances for interested units to access the modern retail system, he noted.

Lasting until July 24, the fair also features tasting and hand-one experience activities, reported VNA.

In 2021, the capital city recognized 595 OCOP products, including 367 rated four stars and 228 rated three stars.

So far, Hanoi has recognized 1,649 OCOP products, including four products rated five stars, 1,098 others rated four stars, and 534 rated three stars. It is taking the lead nationwide in terms of the numbers of OCOP products and five-star OCOP products.

Apart from product assessment and rating, the city has also paid attention to organising events, fairs and workshops to increase connectivity under value chains and advertise those products to other localities in Vietnam and international partners. Many showrooms of OCOP products have also been opened in tandem with the development of craft village tourism and rural tourism.

By 2025, Hanoi looks to have an additional 2,000 OCOP products rated at least three stars, all communes that meet advanced criteria of the new-style rural area building programme having OCOP products, and at least 70% of OCOP product makers being cooperatives, cooperative groups and businesses.

From now to the end of 2022, four events are planned to take place in different districts of Hanoi to introduce OCOP products of not only the city but also other provinces in the northern, central, Central Highlands and southern regions.

The OCOP program was initiated by the Ministry of Agriculture and Rural Development in 2008, based on Japan’s “One Village, One Product” and Thailand’s “One Tampon, One Product” programmes. It is an economic development programme for rural areas and also to help implement the national target programme on new-style rural area building.

OCOP products are made basing on the combination of local resources, traditional culture, and advanced technology, thus promoting product diversification, quality, packaging, and origin traceability.

The program has provided farmers with the chance to come together to form cooperatives, which in turn have enabled farmers to create goods with better quality, design, and packaging that meet higher standards and match market demand.

Vietnam becomes world’s sixth largest fibre, yarn exporter

Vietnam has surpassed the Republic of Korea to become the world’s sixth largest fibre and yarn exporter after shipping abroad US$2.37 billion worth of these items in the first five months of 2022.

The revenue increased 10% from a year earlier, according to the Vietnam Cotton and Spinning Association (VCOSA).

Meanwhile, textiles and garments, fibre, yarn and fabric brought home US$18.73 billion in total exports during the period, rising 20.81% year-on-year. That includes US$14.99 billion in textiles and garments (up 22.2%), US$376.8 million in geotextiles (up 27%), and US$979.8 million in materials (up 19.2%).

Photo: ven
Photo: ven

VCOSA noted China accounted for nearly 60% of Vietnam’s textile and garment exports, cited VOV.

Meanwhile, the US and Europe, which are the world’s biggest textile and garment importers, have reduced shipments from China, giving Vietnam a chance to expand its market share.

The association also cited the World Health Organisation’s prediction that new COVID-19 variants will continue appearing in 2022, expecting the country’s fibre and yarn segment will continue to be the main recovery driver of the industry and be less affected by the pandemic compared to the apparel segment, which is labour intensive, since its manufacturing is mostly conducted by machine.

VCOSA added Vietnam’s economic integration into the world, especially the participation in free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU - Vietnam Free Trade Agreement (EVFTA), also promises breakthrough developments for the fibre and yarn segment.

Revolutionary contributors to be honored on War Invalids and Fallen Soldiers’ Day

A ceremony will be held in Hanoi on July 24 to mark the 75th anniversary of the War Invalids and Fallen Soldiers’ Day and honour 537 representatives of revolutionary contributors.

The event will be jointly held by the Ministry of Labour, Invalids and Social Affairs in coordination with the Ministry of Defence, the Ministry of Public Security, Nhan Dan Newspaper, Vietnam Television, the Central Committee of Ho Chi Minh Communist Youth Union and Hanoi Municipal People's Committee, NDO reported.

Delegates offer incense at the monument dedicated to fallen soldiers on Bac Son Street, Hanoi, on the morning of July 23. Photo: Dang Khoa
Delegates offer incense at the monument dedicated to fallen soldiers on Bac Son Street, Hanoi, on the morning of July 23. Photo: Dang Khoa

Deputy Minister of Labour, Invalids and Social Affairs Nguyen Ba Hoan said that the 537 delegates are revolutionary contributors and relatives of fallen soldiers who made great contributions to the cause of revolution and national construction and defence.

They are also shining examples of revolutionary heroism for younger generations to remember and be grateful for, Hoan noted. He added that the annual ceremony expresses the affection and responsibility of the Party and State leaders and the people forrevolutionary contributors.

The delegation of revolutionary contributors arrived in Hanoi on July 23 to participate in various activities scheduled on July 23 and 24.

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