Vietnam News Today (May 27): Canada Wants to Strengthen Cooperation with Vietnam

Thai Tran, Managing Director of TT Meridian. (Photo courtesy of Thai Tran)

​Ample room for Vietnamese exports to UK: insider

There is plenty of room available for Vietnamese goods to enter the UK market, said Thai Tran, Managing Director of TT Meridian, an international logistics and trading company specialising in the UK and Vietnam markets and the first Vietnamese business in the UK to open an all-cargo air route between the nations via Turkmenistan.

According to the business leader, despite the COVID-19 pandemic and the global recession, trade exchange between countries has grown rapidly in recent times.

Data from the UK Department for Business and Trade showed that Vietnam's export turnover of goods and services to the UK reached 5.9 billion EUR (6.33 billion USD) in 2022, an annual increase of 30.3 %. Vietnam is currently the UK's second-largest trading partner in Southeast Asia and the 40th largest in the world, accounting for 0.4% of the UK's total trade value, cited VNA.

Thai Tran said these encouraging figures have yet to reflect the sides’ true potential, meaning that Vietnam needs to capitalise on market opportunities available in the UK and the current period of the nations’ fruitful relationship.

He made a number of recommendations for Vietnamese firms to boost their exports to the UK market, and suggested they offer more competitive prices, obtain environmental, social, and governance (ESG)-related certificates, and apply technologies for improved information transparency, document standardisation, and cost reduction.

Canada wants to strengthen cooperation with Vietnam

Governor General Mary Simon expressed Canada’s wish to bolster all-round cooperation with Vietnam during her May 25 reception for outgoing Vietnamese Ambassador to Canada Pham Cao Phong.

Simon noted with satisfaction the positive development of relations between Canada and Vietnam over the years, saying bilateral trade and economic relations have been developing well despite the impact of the COVID-19 pandemic.

Economic cooperation will continue to play an important role in bilateral relations, along with enhanced cooperation in other fields, she said.

Vietnam and Canada have enjoyed friendly and productive relations for the past five decades. Last year saw two-way trade turnover between the two countries reach more than US$10 billion, and Vietnam became Canada’s largest trading partner among ASEAN countries, according to VOV.

Vietnamese Ambassador to Canada Pham Cao Phong. (Photo: VNA)

Ambassador Pham Cao Phong for his part recalled the results of recent meetings between leaders of the two countries, including those between Vietnamese Prime Minister Pham Minh Chinh and Canadian Prime Minister Justin Trudeau, saying these meetings are decisive factors for the strong development of bilateral relations.

He expressed his hope that comprehensive cooperation between Vietnam and Canada would further be developed in the coming time, and that Canadian businesses would continue to increase investment in Vietnam.

Vietnam and Canada are celebrating 50 years of diplomatic relations this year, with a series of events to be held throughout the year. Next month, the Canada-Vietnam Chamber of Commerce is scheduled to host an event on the use of artificial intelligence in business activities.

Vietnam's five-month FDI rises sharply nationwide

The total inflows of foreign investment in Vietnam this year to May 20, including new and added investment and contributions for share purchases by foreign investors, reached nearly 10.86 billion USD, down 7.3% year-on-year, but up 10.6 percentage points as compared with the figure in the first four months of this year, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment reported.

Of the sum, more than 5.26 billion USD was injected into 962 new projects, representing year-on-year increases of 27.8% in value and 66.4% in value, the agency said.

According to the agency, 1,278 transactions of capital contribution for share purchaseswere recorded in the period with a combined value of nearly 3.32 billion USD, down 5.6% in number of transactions but up 67.2% in value.

Nevertheless, 485 projects registered to adjust their investment with additional capital of nearly 2.28 billion USD, a drop of up to 59.4% from the corresponding time last year, reported VNA.

More than 5.26 billion USD is injected into 962 new projects in the five months. (Photo: baodautu.vn)

The processing and manufacturing sector was the largest recipient of FDI, with more than 6.64 billion USD, accounting for 61.2% of the total pledges, followed by finance-banking, real estate, and science-technology.

Among the 82 countries and territories investing in Vietnam during the period, Singapore took the lead with over 2.53 billion USD, making up more than 23.3% of the accumulative figure.

Japan and China came second and third with nearly 2.1 billion USD and some 1.61 billion USD, respectively. Other large investors included Taiwan (China), Hong Kong (China), and the Republic of Korea.

Foreign investments were poured into 50 out of the 63 cities and provinces, of which Hanoi received the most, with about 1.87 billion USD, accounting for about 17.2% of the sum, followed by the northern province of Bac Giang, and HCM City, Binh Duong, and Dong Nai provinces in the south.

However, HCM City topped the list in the numbers of new and adjusted projects, and capital contribution for share purchases.

Airports serve nearly 45.5 million passengers over five-month period

Airports nationwide served a total of 45.5 million passengers during the first five months of the year, up 37.8% compared to the same period last year, according to the Civil Aviation Authority of Vietnam (CAAV).

Of the total there were 12 million foreign and 33.4 million local passengers, marking year-on-year increases of 679.6% and 5.7%, respectively.

Passengers at Noi Bai International Airport.

In May alone airports across the country served nine million passengers, up 3.2% compared to the previous month.

Vietnamese airlines carried 22.4 million passengers during the reviewed period, an increase of 36.9% compared to the same period last year, according to the CAAV.

In May, they served 4.46 million passengers, up 3.3% month on month, VOV reported.

Vietnam Airlines witnessed revenue doubling year on year to VND23.5 trillion. However, the national flag carrier still posted a post-tax loss of VND37.33 billion.

VietJet’s air transport revenue reached VND12.88 trillion, whilst its after-tax profit stood at VND168 billion, increasing by 286% and 320% year on year, respectively. Ancillary revenue, in particular, was reported at VND4.31 trillion, accounting for more than 33% of the total revenue.

Vietnam mission marks 75th anniversary of UN Peacekeeping

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations, on May 25 (local time) chaired a ceremony marking the 75th anniversary of the International Day of United Nations Peacekeepers (May 29, 1948-2023).

The event gathered members of Vietnamese representative agencies in New York, commanders and officers of the Vietnamese army and police forces on duty at the UN peacekeeping missions in the Central African Republic, South Sudan, and Abyei region, and four Vietnamese peacekeeping officers on secondment at the UN headquarters.

In his remarks, Giang said that Vietnam's active participation in peacekeeping since 2014 is an important policy and decision of the Party and State in the nation’s integration process, reflecting the new position and power of Vietnam in the international arena.

He attributed Vietnam's peacekeeping achievements to the efforts and contributions of all units involved, particularly officers and soldiers on duty at UN peacekeeping missions and headquarters, cited VNS.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations, on behalf of the State of Vietnam, received from the UN Secretary-General António Guterres the Dag Hammarskjöld Medal for Lieutenant Colonel Do Anh who died while on duty under the UN flag in 2022. Photo: VNA

The diplomat also noted that many UN leaders and international friends have highly appreciated the bravery, self-reliance, and flexible and creative approach of the Vietnamese peacekeeping forces in deploying their tasks and overcoming difficulties.

On the occasion, Giang expressed his gratitude to Lieutenant Colonel Do Anh, the first Vietnamese peacekeeper to die on duty in the Central African Republic in early 2022. Participants observed a minute of silence to commemorate the more than 4,200 fallen UN peacekeepers over the past 75 years.

In the morning of the same day, a ceremony marking the 75th anniversary and honouring the contributions and sacrifices of the "green beret" forces was held at UN headquarters. UN Secretary-General António Guterres presented the Dag Hammarskjöld Medal for the cause of international peace to servicemen who died while on duty under the UN flag in 2022, including Lieutenant Colonel Do Anh of Vietnam.

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