Vietnam News Today (May 21): Vietnam, Israel Cooperate to Early Enforce Trade Deal

Photo: VOV

Vietnamese PM delivers speech at G7 expanded Summit’s first plenary session

Prime Minister Pham Minh Chinh has underscored strengthening a more substantive and effective global partnership, international solidarity, and multilateral cooperation is key to dealing with today's complex challenges.

In his address at the first plenary session of the expanded Summit of the Group of Seven (G7) in Hiroshima, Japan, the Vietnamese Government leader emphasized the necessity to ensure that people are the centre, driving force, subject, resource and goal of development.

The current unprecedented context calls for actions going beyond the precedents with a global, inclusive and multilateral approach, and emphasized an urgent need for promoting and creating new driving forces serving the recovery of the global economic growth and development in a greener, cleaner and more sustainable direction, he said.

PM Chinh suggested improving the global economic governance efficiency; strengthening policy coordination, particularly in interest rates, finance-currency, trade-investment; and reforming a World Trade Organization-centred multilateral trading system.

Welcoming the Partnership for Global Infrastructure and Investment (PGII) initiative, he proposed G7 continue to support developing countries through the provision of green finance and cooperation in developing strategic infrastructure systems, especially for transport.

Vietnam greatly values the Hiroshima Action Statement for Resilient Global Food Security, and proposed G7 and its partners accelerate the opening of agricultural markets, promote green agricultural cooperation, intensify their participation in and support for the implementation of the South-South and trilateral cooperation mechanisms in ensuring the global food security, Chinh went on to say.

Vietnam stays ready to scale up food production contributing to the conduction of the action statement, the leader said.

In the spirit of leaving no one and no country behind, Chinh called on the G7 countries and development partners to have a specific action plan to strengthen resources support for the implementation of the SDGs, narrow the digital gap, master pioneering technologies, ensure transboundary water security, enforce gender equality, and develop effective mechanisms in response to future medical emergencies, cited VOV.

PM Chinh used the occasion to thank G7 members and the international community for assisting Vietnam in its prevention and control of and recovery after the COVID-19 pandemic. He stated that Vietnam is always an active and responsible member of the international community, proactively contributing to efforts to address common global challenges for sustainable development and prosperity of the humanity, and for the happiness of the people.

Leaders at the event discussed measures to cope with unprecedented crisis in various areas such as food security, health care and economics-development. They emphasized the need to put development at the centre, promote initiatives to pool resources, boost public-private cooperation in infrastructure development, including the G7's PGII.

They also concurred to strongly carry out the Hiroshima Action Statement for Resilient Global Food Security initiated by Japan.

It is the third time Vietnam has been invited to the expanded Summit of the G7 in the past seven years, indicating the recognition of the G7 countries and the international community of Vietnam's position and reputation, as well as its active and responsible contributions to enhancing international cooperation in dealing with global challenges over the past years.

President Ho Chi Minh remembered on 133rd birth anniversary abroad

Various activities were held in many places around the world to mark the 133rd birth anniversary of President Ho Chi Minh, who is hailed as a brilliant leader, a national liberation hero of Vietnam, a world cultural figure, an exemplary international communist soldier, and a close friend of peace-loving and socially progressive nations worldwide.

In Turin city of Italy on May 19, Vietnam's Honorary Consul Sandra Scagliotti, in collaboration with various associations, libraries, universities and publishers, organised a meeting on the theme "Vietnam and Ho Chi Minh in Italy."

In Milan city, the Italy-Vietnam Friendship Association in Lombardy also organised events on the occasion, reported VNA.

At an incense-offering ceremony in Germany (Photo: VNA)

A ceremony was also held at the Vietnamese Embassy in Rome on May 19 to celebrate the late leader's birthday.

The same day, an incense-offering ceremony took place at the Vietnamese Embassy in Germany to express their profound respect and boundless gratitude towards the beloved leader of the Vietnamese people.

Similar events were also held in Slovakia, Laos and Thailand.

On the occasion, the Vietnamese students in Hong Kong (China) visited Victoria prison, which is closely associated with the revolutionary activities of the late Vietnamese leader from January 1930 to January 1933.

PM Chinh expects Vietnam - Canada trade turnover of US$10 billion

Prime Minister Pham Minh Chinh has requested that Vietnam and Canada strive to further promote trade and investment ties in order to elevate their bilateral trade turnover to US$10 billion in the near future.

The request was made by the Vietnamese Government chief at a meeting held on May 20 with his Canadian counterpart Justin Trudeau as part of activities taking place during his ongoing business trip to Japan.

During the course of the meeting, the two PMs expressed their positive impressions about the good progress made in the Vietnam-Canada Comprehensive Partnership, in which trade co-operation represents a bright spot with last year’s bilateral turnover reaching over US$7 billion.

Amid the two countries celebrating their 50th anniversary of diplomatic relations which began back in 1973, both sides agreed to step up all-around linkages, with a particular focus on intensifying meetings, dialogues, and the exchange of delegations at all levels, cited VOV.

Prime Minister Pham Minh Chinh (R) meets with his Canadian counterpart Justin Trudeau.

PM Chinh therefore proposed that the two sides continue to strengthen development assistance, respond to non-traditional security challenges, whilst enhancing people-to-people exchanges. He asked the Canadian side to co-operate in new areas such as digital transformation, green transformation, circular economy, innovation, and signed agreements to boost co-operation in areas where the two sides have strengths and needs.

The Vietnamese cabinet leader suggested that Canada continue to create favourable conditions in which Vietnamese goods can be further exported to the Canadian market.

The request was made by the Vietnamese Government chief at a meeting held on May 20 with his Canadian counterpart Justin Trudeau as part of activities taking place during his ongoing business trip to Japan.

During the course of the meeting, the two PMs expressed their positive impressions about the good progress made in the Vietnam-Canada Comprehensive Partnership, in which trade co-operation represents a bright spot with last year’s bilateral turnover reaching over US$7 billion.

Amid the two countries celebrating their 50th anniversary of diplomatic relations which began back in 1973, both sides agreed to step up all-around linkages, with a particular focus on intensifying meetings, dialogues, and the exchange of delegations at all levels.

PM Chinh therefore proposed that the two sides continue to strengthen development assistance, respond to non-traditional security challenges, whilst enhancing people-to-people exchanges. He asked the Canadian side to co-operate in new areas such as digital transformation, green transformation, circular economy, innovation, and signed agreements to boost co-operation in areas where the two sides have strengths and needs.

The Vietnamese cabinet leader suggested that Canada continue to create favourable conditions in which Vietnamese goods can be further exported to the Canadian market.

Vietnam, Israel cooperate to early enforce trade deal

Vietnam will continue to work closely with Israel to early sign and enforce the two countries’ Free Trade Agreement (FTA), bringing practical benefits to businesses and people of both sides, Minister of Industry and Trade Nguyen Hong Dien stressed at a meeting with Israeli Ambassador to Vietnam Yaron Mayer in Hanoi on May 19.

At the meeting, Minister Dien and Ambassador Mayer shared latest information on the review of the FTA document and other legal procedures to prepare for the signing of the FTA.

Regarding other bilateral trade matters, Minister Dien suggested the two countries continue to strengthen cooperation in trade and investment promotion and sending business delegations to each other's trade and investment promotion events. He proposed building mechanisms for information sharing between agencies of the two countries on policies, technical standards and regulations applied to a number of import and export commodities to facilitate import and export goods of both sides.

Minister of Industry and Trade Nguyen Hong Dien in a meeting with Embassy of Israel in Vietnam. (Photo: VNA)

He also called for stronger cooperation in high-tech equipment, biotechnology, agricultural product processing, food and other potential fields in which the two countries have strengths.

The minister shared that Vietnam encourages Israeli businesses to invest more in industrial production, biotechnology, information technology, new material technology, consumer goods and food industries, start-ups, vocational training, technology transfer and development of high technology in Vietnam.

Israel is currently the third largest export market and the fifth largest trading partner of Vietnam in West Asia and is considered a large and potential market for Vietnamese goods in West Asia, VNA reported.

Vietnam mainly exports products such as phones and components, seafood, cashew nuts, coffee, shoes, pepper, garment and textiles, wood and wood products to Israel.

It imports computers, electronic products and components, machinery, equipment and spare parts, fertilizers, vegetables and fruits from the West Asian country.

Aviation industry continues to rebound strongly

The aviation industry continues showing signs of recovery, with business results growing strongly after struggling for a while.

The domestic aviation market continued to grow in the first four months of 2023 after recording a higher number of passengers than the pre-COVID-19 pandemic years, while the international market is rebounding positively.

According to the Civil Aviation Authority of Vietnam, domestic airlines carried 18.2 million passengers during the period, up 56 per cent on-year.

As the tourism season, which falls in the summer, has kicked off at the beginning of the month, the demand for air travel is expected to rise sharply.

Vietjet Air said that 2023 is a bright year for the aviation industry, as revenue and profit are likely to increase sharply thanks to the reopening of the Chinese market, visa relaxation, and especially lower jet fuel prices.

The Government is also considering a proposal to remove the ceiling price of air tickets and allow fuel surcharges. If approved, it will help airlines recover quickly and increase competitiveness with international airlines.

Statistics from the Airports Corporation of Vietnam (ACV) showed that in the first four months, its total passengers were 36.4 million. It is forecast that by the end of 2023, the number of international visitors to Viet Nam will reach about 30 million, equal to 80 per cent of 2019.

At the 2023 annual general meeting of shareholders, Vu The Phiet, general director of ACV, said that in 2024, the number of domestic tourists will exceed that of 2019, while the number of international tourists will recover to equal or exceed the figure of 2019. This is the premise to boost ACV's revenue and profit, he added.

In the first quarter of 2023, ACV's revenue and profit after tax were over VND4.7 trillion (US$199.6 million) and VND1.6 trillion, respectively, up 124.6 per cent and 87.3 per cent over last year.

This year, ACV sets to reach 118 million passengers, an increase of 20 per cent, with revenue up 22 per cent to VND19.36 trillion and a profit before tax of nearly VND8.5 trillion, up 12 per cent.

Other airlines also performed well in the first quarter, cited VNS.

A Vietnam Airlines plane at the Soekarno-Hatta International Airport, Indonesia. The flag carrier posted a gain in profit in the first quarter after long period of losses. Photo: VNS

In a separate financial statement, Vietjet Air reported a net revenue in air passengers of VND12.88 trillion and profit after tax of VND168 billion, up 285.6 per cent and 317.1 per cent year-on-year, respectively.

In its consolidated financial statements, revenue reached nearly VND13 trillion and profit after tax was VND172.2 billion.

Vietjet Air said that in the first quarter of 2023, the business operated 31,300 flights, up 57 per cent over last year.

The carrier has opened ten new routes, including four domestic routes and six international routes, bringing the total number of routes by the end of the first quarter of 2023 to 55 domestic and 50 international.

It also focuses on controlling operating costs.

Similarly, Vietnam Airlines JSC started to make profit before tax, after a long period of losses. Particularly, its net revenue in the first quarter of this year reached VND3.49 trillion, double the result of last year, with a profit before tax of VND19.3 billion. During the 2020-22 period, it lost thousands of billions of dong each quarter.

The flag carrier said that revenue in providing services increased by 116.2 per cent on-year in the first quarter. Of which, revenue from domestic flights rose by 76.5 per cent while that from international flights increased by 618.5 per cent year-on-year.

Vietnam Airlines has restored the entire domestic flight network and restored 90 per cent of the international routes compared to before the pandemic.

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