Vietnam News Today (Mar. 16): Vietnam - Bright Spot in Italy's Asia Strategy
	Vietnam News Today (Mar. 17): Vietnam Tops ASEAN in Number of Heritage Parks

The signing ceremony of the fourth MoU between the State Audit Office of Vietnam and the National Audit Office of China in Beijing on March 17. (Photo: VNA)

Vietnam, China enhance cooperation between state audit offices

Auditor General Ngo Van Tuan, who is leading a delegation from the State Audit Office of Vietnam (SAV) on their visit to China, held talks with his Chinese counterpart Hou Kai in Beijing on March 17.

Opening the talks, Auditor General of the National Audit Office of China (CNAO) Hou highlighted that 2025 marks the 75th anniversary of diplomatic ties between Vietnam and China, providing further momentum to enhance collaboration across various sectors, including public auditing.

Tuan, for his part, commended the productive cooperation between the SAV and the CNAO over nearly two decades, particularly through their annual joint seminars on key topics matching international auditing trends.

He also expressed the SAV’s wish to learn from China’s experience and receive the latter's support, especially as Vietnam assumes its role as a member of the Asian Organization of Supreme Audit Institutions (ASOSAI)’s Audit Committee for the 2024–2027 term.

The two sides agreed to further strengthen their cooperation, meeting the growing requirements of public auditing while aligning with their countries’ comprehensive strategic cooperative partnership, cited VNA.

They said they will focus on increasing exchanges of high-level and specialised delegations, and enhancing knowledge-sharing through seminars and discussions, particularly on auditing in the fields of IT, big data, environment, and corruption prevention. They agreed to continue training programs, scholarships, and short-term courses, explore chances for joint or parallel audits on sustainable development, and expand cooperation within ASOSAI and international auditing forums.

The SAV and CNAO later signed their fourth memorandum of understanding (MoU) to strengthen collaboration, following the previous MoUs signed in 2004, 2013, and 2019. The pact is expected to drive their experience exchanges, along with collaboration in research and specialised training programs.

After the signing ceremony, the two sides convened their 7th joint seminar on digital transformation in auditing and thematic audits.

Participants shared insights and best practices on integrating digital technology into audit operations. They noted that the new MoU is not just a milestone but a starting point for a period of deeper cooperation, aiming at sustainable and effective public auditing practices.

Vietnam expects to further expand cooperation with foreign partners

Vietnam wishes to expand cooperation with foreign partners, State President Luong Cuong said during his separate meetings with newly accredited ambassadors of Greece, Colombia, Panama, and several other countries in Hanoi on March 17.

Receiving Greek Ambassador Antonios Papakostas, Cuong appreciated Greece early ratifying the EU-Vietnam Investment Protection Agreement (EVIPA), but emphasized that investment cooperation between Vietnam and Greece remains modest compared to its full potential.

To address the issue, the President urged the Ambassador to work closely with Vietnamese partners to expand economic-trade-investment cooperation; facilitate the signing of key agreements to create a legal framework for business expansion; and leverage the EU - Vietnam Free Trade Agreement (EVFTA) for mutual benefits.

At the same time the president encouraged Greece to support the ratification of EVIPA by other EU countries and advocate for the European Commission to lift the IUU “yellow card” on Vietnamese seafood exported to the bloc, according to VOV.

Vietnamese President Luong Cuong receives newly accredited Ambassador Antonios Papakostas of Greece in Hanoi on March 17.

The President highly appreciated the mutual support between Vietnam and Greece in multilateral forums such as the United Nations (UN) and UNESCO, and expressed his hope for further cooperation in fostering ASEAN-EU relations.

Ambassador Papakostas shared his deep appreciation for the hospitality and goodwill of the Vietnamese government and people, and vowed to work hard to further enhance bilateral cooperation during his tenure.

Receiving Greek Ambassador Antonios Papakostas, Cuong appreciated Greece early ratifying the EU-Vietnam Investment Protection Agreement (EVIPA), but emphasized that investment cooperation between Vietnam and Greece remains modest compared to its full potential.

To address the issue, the President urged the Ambassador to work closely with Vietnamese partners to expand economic-trade-investment cooperation; facilitate the signing of key agreements to create a legal framework for business expansion; and leverage the EU - Vietnam Free Trade Agreement (EVFTA) for mutual benefits.

At the same time the president encouraged Greece to support the ratification of EVIPA by other EU countries and advocate for the European Commission to lift the IUU “yellow card” on Vietnamese seafood exported to the bloc.

The President highly appreciated the mutual support between Vietnam and Greece in multilateral forums such as the United Nations (UN) and UNESCO, and expressed his hope for further cooperation in fostering ASEAN-EU relations.

Ambassador Papakostas shared his deep appreciation for the hospitality and goodwill of the Vietnamese government and people, and vowed to work hard to further enhance bilateral cooperation during his tenure.

Receiving Ambassador Nubiela Ayala Modes of Panama, President Luong Cuong reaffirmed that Vietnam values Panama’s role and position in Central America and Latin America and is committed to consolidating the traditional friendship and mutual trust in political relations. He emphasized the need to enhance the effectiveness of cooperation, particularly in economy-trade-investment, culture, and people-to-people exchanges, for the benefit of both countries and for peace, stability, and development in both regions and globally.

He also underscored the importance of organizing activities to commemorate the 50th anniversary of diplomatic relations between the two countries, by fostering cooperation in culture, tourism, and people-to-people exchanges. He assured that the Vietnamese government and relevant ministries would work closely with the ambassador and provide all necessary support to ensure her successful tenure in Vietnam.

The Panamanian Ambassador affirmed her commitment to making every effort during her tenure to promote the traditional friendship and effective cooperation between the two countries, especially in political, economic, trade, and investment relations.

Agreeing with the President’s assessment, the Ambassador expressed her hope that both sides would continue expanding cooperation in various fields in line with their potential and strengths. She also hoped that Vietnam would continue to support Panama within international forums.

IFC, Switzerland expand support for supply chain finance in Vietnam

The International Finance Corporation (IFC) and the Swiss government have launched the second phase of their supply chain finance (SCF) program in Vietnam, aiming to improve access to working capital for small and medium-sized enterprises (SMEs).

Backed by a 5 million Swiss Francs (5.6 million USD) grant from the State Secretariat for Economic Affairs (SECO), the initiative will run until 2029, helping over 500,000 SMEs access up to 35 billion USD in financing, reported VNA.

Swiss Ambassador to Vietnam Thomas Gass (left) and IFC Country Manager Thomas Jacobs sign the cooperation agreement for Phase 2 of the Vietnam Supply Chain Finance Program. (Photo courtesy of IFC)

With nearly half of Vietnam’s economy and jobs linked to exports, local businesses often struggle with cash flow due to long payment cycles. According to a recent World Bank survey, fewer than 20% of local firms were connected to global value chains in 2023.

SCF solutions can ease these constraints by converting sales receivables into cash, enabling SMEs to take on larger orders and expand their operations.

“We estimate that the first phase of the program has unlocked over 30 billion USD in capital for around half a Vietnamese SMEs,” said Thomas Gass, Swiss Ambassador to Vietnam.

“By providing financial support to these businesses, the program not only helped SMEs to thrive but also contributed to the growth of the broader economy, fostering a more inclusive and sustainable marketplace.”

Since its launch in 2018, the IFC-SECO SCF program has helped improve regulations, enhance institutional readiness and stimulate market demand and awareness. Over the past five years, it facilitated 33 billion USD in financing for 500,000 SMEs. In this next phase, the focus will be on strengthening regulations, improving lender capacity and increasing awareness of SCF solutions among businesses.

Deputy Governor Nguyen Ngoc Canh said that the State Bank of Vietnam, in collaboration with IFC and SECO, will continue reviewing and adjusting regulations to foster a more favorable environment for SCF, including refining rules for e-financing platform lending and encouraging financial institutions to diversify their offerings to improve credit access for SMEs.

"IFC is very happy and proud to be working with SECO and our bank partners to really help stimulate the market for supply chain finance, which is going to be a critical part of the financial ecosystem for SMEs. We really want to be a positive force for supply chain finance and better trade finance for Vietnam as a whole," said Thomas Jacobs, IFC Country Manager for Vietnam, Cambodia and Laos.

Hue among Top 8 most underrated foodie cities in Asia

Hue city in the central province of Thua Thien-Hue has come third on the list of the Top 8 most underrated foodie cities in Asia, according to Tatler Asia, a leading luxury platform which celebrates the best of Asia.

Tatler shares that when mentioning delicious Vietnamese dishes, most foreign tourists think of delicacies phở (instant noodles) and banh mi (baguette) as they are very popular in big cities, such as Hanoi and Ho Chi Minh City.

However, Tatler notes that Hue city is widely celebrated for its imperial cuisine with unique taste, including bun bo Hue (Hue beef noodle soup), banh beo (Vietnamese Steamed Savory Rice Cake), and com hen (steamed rice with baby clams).

Bun bo Hue is a staple Vietnamese soup which is traditionally consumed for breakfast, consisting of pork and beef bones broth, bun noodles, lemongrass, shrimp paste, lime juice, and a variety of herbs.

Meanwhile, banh beo is a popular Vietnamese steamed cake consisting of key ingredients such as rice flour, fish sauce with green chili peppers, and either shrimps or pork, cited VOV.

Com hen is the favourite of Hue locals and tourists (Photo: Internet)

Additionally, noodles, roasted peanuts, or fried onions can be added to the cake in order to improve its flavours.

Cơm hen is the favorite of Hue locals and tourists thanks to its deliciousness and simplicity.

With a quite complex recipe, including crunchy cold rice, clams, fried pork fat, roasted peanuts, chili pepper, banana flower, star fruit, green apple, mint herb, taro stem, fermented shrimp sauce and the most indispensable sauce, clam broth, 'com hen' let us enjoy all sweet, buttery, salty, sour, bitter, and extremely peppery-hot tastes at once.

The most interesting thing here is the special combination of the cold rice and the hot clam broth.

Rounding off the Top 8 most underrated foodie cities in Asia are Fukuoka of Japan, Ipoh of Malaysia, Iloilo of the Philippines, Gwangju of the Republic of Korea, Hualien of Taiwan (China), Surabaya of Indonesia, and Luang Prabang of Laos.

Vietnam needs decisive action to achieve net zero goal

Vietnam has taken strong steps in the fight against climate change. The commitment to achieve net zero emissions by 2050 has been concretised through an action program and various strategies, plans and projects. However, compared to the actual needs and developments, Vietnam requires even more decisive actions.

A major goal like net zero requires the participation of the entire society. It is a fact that despite the significant benefits net zero brings, in some places and among certain segments of the population, the understanding of net zero and how to implement it remains rather vague.

Awareness of sustainable business practices and emissions reduction is becoming increasingly widespread, but the transition has not yet been truly embraced or widely applied by many small and medium enterprises, production households, and business households — forces that constitute the majority at provincial and city levels.

Additionally, many people are still reluctant to fully learn about the net zero goal, methods of measuring and controlling emissions, as well as related financial mechanisms such as the carbon credit market. Some places still view this merely as a simple environmental issue, rather than recognizing it as a comprehensive challenge related to economics, industry, transport, energy, and finance.

Many citizens have not fully recognised that everyday activities such as using coal stoves, burning rubbish, wasteful electricity consumption, and using private vehicles all contribute to the nation’s emissions. This is not because people are indifferent to the environment, but because they have not had adequate access to information and do not clearly see their responsibilities nor the benefits of reducing emissions, NDO reported.

Vietnam is working towards the net zero emission goal by 2050.

Experts share that synchronized action is needed from the central government down to local governments and citizens, so that net zero is not just a slogan. To achieve this, localities need strong determination to establish a robust mechanism with sufficient professional capacity to implement emission reduction programs effectively.

The task of public education and raising awareness about net zero must continue to be prioritized. People cannot change if they do not clearly understand what net zero is and why they need to participate.

Relevant agencies need to develop creative, practical communication programs to help citizens, businesses and local government systems understand climate change and their role in the emission reduction process.

Currently, emissions accountability in Vietnam mainly focuses on several major sectors, while there is no rigorous measurement system at the local level. Developing an emissions map would help each locality implement appropriate reduction solutions and coordination.

Each locality has different socio-economic characteristics, so a common model should not be applied. Each locality should develop an emissions reduction roadmap suitable for its conditions, while monitoring and evaluating effectiveness at each stage.

Vietnam has only 25 years left to achieve the net zero goal. The country must begin now to succeed in the global green race.

Vietnam News Today (Mar. 14): Vietnam Always Regards US as Strategically Important Partner Vietnam News Today (Mar. 14): Vietnam always regards US as strategically important partner; Swedish businesses sound out investment opportunities in Vietnam; Vietnam eyes new direct ...

Vietnam News Today (Mar. 15): Vietnam and Singapore – Model of Successful Green and Digital Economic Cooperation Vietnam News Today (Mar. 15): Vietnam and Singapore – A model of successful green and digital economic cooperation; Vietnam, RoK discuss tech-driven growth strategies; Vietnam, ...