Photo: VNA

Vietnam seeks China's expertise in power sector transformation

Deputy Prime Minister Tran Hong Ha received Luo Bi Xiong, Chairman of the Board of Directors of the China Power Engineering Consulting Group Co., Ltd (CPECC) in Hanoi on May 27.

Ha commended China's advancements in energy modernisation, particularly its renewable energy development and expertise across all stages, from design, production to operation and management.

He expressed his belief that deeper cooperation between Vietnamese and Chinese companies, especially in the energy sector, would solidify the comprehensive strategic cooperative partnership between the two nations.

Vietnam is undergoing energy transition and carrying out the National Power Development Plan (PDP8) for the 2021-2030 period, with a vision to 2050, he said, adding that this plan necessitates adjustments to legal regulations related to renewable energy development.

Recognizing the CPECC's extensive experience in consulting, contracting and investing in power and renewable energy projects globally and within Vietnam, Ha expressed his desire for the Chinese firm's sharing of experience in selecting the most appropriate technologies, refining relevant policies, and developing plans to implement the PDP8 most effectively.

Additionally, he sought solutions to streamline electricity transmission operations across regions, considering the integration of diverse energy sources like hydropower, coal, gas, and renewables, cited VNA.

The Vietnamese Government will foster a positive environment for Vietnamese and Chinese enterprises to collaborate effectively on mutually beneficial agreements, he said.

Taking note of the CPECC’s scientific and economically viable proposals, the host suggested that the CPECC work directly with the Ministry of Industry and Trade, the Vietnam Electricity (EVN), and the Vietnam National Oil and Gas Group (Petrovietnam) to clarify mechanisms and legal regulations, technical requirements, investment effectiveness and project feasibility.

Luo presented the CPECC's achievements in energy planning, infrastructure development, consulting, and technical expertise across China, the globe, and specifically within Vietnam.

He proposed a range of projects focusing on the development of integrated energy centers, high-voltage power transmission lines, and the production of new green fuels in Vietnam.

WB’s contributions to Vietnam’s socio-economic development hailed

Prime Minister Pham Minh Chinh has noted his appreciation for the World Bank (WB)’s contributions to Vietnam's socio-economic development since 1993, with total funding of up to US$24 billion, especially in poverty reduction.

Prime Minister Pham Minh Chinh hosted a reception in Hanoi on May 27 for visiting Vice President of the World Bank (WB) Manuela V. Ferro and WB Country Director for Vietnam, Laos, and Cambodia Mariam J. Sherman, alongside their associates.

The Vietnamese Government leader hailed the nation’s commitment to a deeper partnership, while asking the WB’s continued support for programs and policies promoting sustainable growth, green, digital, circular, sharing and knowledge-based economies.

In reply, Ferro told her host that the WB has demonstrated trust by establishing its regional office for Vietnam, Laos, and Cambodia in Hanoi. She affirmed the lender’s readiness to work hand in hand with Vietnam to ensure that the regional office operates efficiently, benefiting all the three countries.

She underscored ongoing collaboration with Vietnamese ministries and agencies to review existing projects and develop a new phase of the Vietnam-WB Country Partnership Framework.

Showing readiness to welcome the WB President to Vietnam, the Vietnamese cabinet leader proposed US$11 billion in WB lending for Vietnam over the next five years, with a focus on large-scale infrastructure, energy and agriculture.

He encouraged the WB to consider flexible capital management models and adjust its approach to provide preferential loans for critical infrastructure projects, according to VOV.

Prime Minister Pham Minh Chinh (R) welcomes Vice President of the World Bank (WB) Manuela V. Ferro (Photo: VGP)

These projects, should have a broad impact, connect regions, create development space and effectively deal with climate change concerns, Specifically, he mentioned the North-South high-speed railway, the Ho Chi Minh City-Can Tho railway, the Hanoi metro line, and the development of 1 million ha of quality rice in the Mekong Delta.

Vietnam has made changes in governance, investment structure, procedure reform, and a people-centric approach. The efforts ensure a harmonious balance of interests among the people, the State, and businesses.

Chinh said he hoped that the WB would continue helping Vietnam access the global carbon credit market, creating new avenues to finance Vietnam's climate commitments and goals.

The WB Vice President pledged her organization’s continued partnership with Vietnam to achieve its development goals for 2030 and 2050 through specific actions and projects. The WB would collaborate with Vietnam to discuss and devise solutions to fast-track and increase the efficiency of their joint work, as expected by the Vietnamese Government chief.

FDI attraction in five months tops 11 billion USD

More than 11.07 billion USD in foreign direct investment (FDI) was funneled into Vietnam during January-May, up 2% against the same time last year, according to the Ministry of Planning and Investment (MPI)’s Foreign Investment Agency.

Of the total, 7.94 billion USD was poured into 1,227 new projects, a year-on-year increase of 50.8% and 27.5%, respectively. Meanwhile, 440 projects had their capital added with a total of over 2.08 billion USD, dropping 9.3% and 8.7% as compared to the same time last year.

Foreigners also injected more than 1.05 billion USD into 1,158 capital contribution and share purchase deals during the period, down 68.2% and 9.4%.

Among the 78 countries and territories having investment in Vietnam in the first five months, Singapore was the largest since it landed nearly 3.25 billion USD in the country, making up 29.3% of the total and growing 28.2% year-on-year, VNA reported.

Workers at Giang Dien Industrial Park, Trang Bom district, the southern province of Dong Nai (Photo: VNA)

Foreign firms invested in 17 out of the 21 economic sectors, with the processing and manufacturing industry taking the lead as it saw over 7.42 billion USD, or 67.1% of the total investment and up 11.9% against the same time last year. The realty sector came second with 1.98 billion USD in investment, rising 70.8% year-on-year, followed by wholesale and retail sales (514.2 million USD), and transport and warehousing (342.2 million USD).

The MoIT said most of the FDI ran to localities with sound infrastructure, stable human resources, concerted efforts in administrative procedure reform, and active investment promotion work like Ba Ria – Vung Tau, Hanoi, Bac Ninh, Ho Chi Minh City, Dong Nai, Quang Ninh, Bac Giang, Hai Phong, Thai Nguyen, and Hung Yen.

The disbursement of FDI capital grew 7.8% to some 8.25 billion USD during the five-month period.

As of May 20, the country was home to 40,285 valid projects with a combined capital of 481.33 billion USD, around 305.43 billion USD of which has been disbursed so far.

Vietnamese tourism sector eyes improvements in global tourism development rankings

The Vietnam National Authority of Tourism has stated that the development capacity index of the Vietnamese tourism industry set out in the World Economic Forum (WEF)’s latest report was not accurate, while seeking measures to improve its global ranking moving forward.

In terms of the overall rankings detailed in the Travel & Tourism Development Index (TTDI) 2024, Vietnam was placed at 59th out of a total of 119 countries and territories with an average score of 3.96 out of seven. This marks a significant downgrade compared to 2022 when the country ranked 52nd with an average score of 4.1 points.

Among the figures, the index of socio-economic impact witnessed the nation stand at 115th out of 119 countries and territories, scoring 2.95 points.

However, the index didn’t accurately reflect the impact of Vietnamese tourism on socio-economic development because the WEF might not have updated statistical data on the local tourism sector during the 2021 to 2024 period, according to the Vietnam National Authority of Tourism, VOV reported.

Photo: VOV

The authority also reported that the country waived visas for travelers from 25 countries, with 13 enjoying unilateral exemption. Since August, 2023, the country has issued e-visas for all nationalities and moved to extend their maximum stay from 30 to 90 days, with unlimited entries.

Vietnam recorded 12.6 million foreign arrivals last year, a 3.4-fold rise from 2022. The country aims to serve about 18 million international visitors and 110 million domestic tourists, as well as earning some VND840 trillion from the sector this year.

To improve the WEF’s TTDI, the Vietnamese tourism sector will coordinate efforts with competent agencies in a bid to update data so that the WEF can evaluate the index of socio-economic impact on tourism accurately.

The tourism sector will also pay close attention to preservation work, investment in infrastructure, and the stabilization of tourism service prices in order to improve its position in terms of global tourism development rankings.

Vietnam sends 800 peacekeepers on UN missions in ten years

Among 800 professional officers and soldiers deployed on UN peacekeeping missions were two engineering unit teams to Abyei, five teams of Level 2 Field Hospital personnel serving on the South Sudan mission, and 114 individual officers.

Vietnam has dispatched more than 800 officers and soldiers to UN peacekeeping missions over the past ten years, said Colonel Pham Manh Thang, director of the Vietnam Department of Peacekeeping Operations, on Monday.

The department and its Engineering Unit Rotation 1 were honored to receive the third-class Fatherland Defence Medal on the tenth anniversary of the foundation during a ceremony held in Hanoi.

The Level 2 Field Hospital No 4 and Colonel Mac Duc Trong, captain of the Engineering Unit Rotation 1 were awarded certificates of merit from the Prime Minister.

Based on assessments from UN agencies and the mission commander, Colonel Thắng said the Vietnamese peacekeeping force has done a great job of completing the task. The team members have impressed mission commanders, foreign friends and colleagues with their professionalism, inventiveness, and high level of discipline, cited VNS.

Deputy Prime Minister Tran Luu Quang presents the third-class Fatherland Protection Order for leaders of the Việt Nam Department of Peacekeeping Operations on Monday while attending the 10-year foundation anniversary ceremony. — VNA/VNS Photo Trọng Đức

Among 800 professional officers and soldiers deployed on UN peacekeeping missions were two engineering unit teams to Abyei, five teams of Level 2 Field Hospital personnel serving on the South Sudan mission, and 114 individual officers, he said.

The proportion of Vietnamese officers who successfully finished their assignments is far greater than the UN average, he said.

In addition to providing medical examinations, treatments and health consultations, the Vietnamese engineering units in Abyei have helped the local government and people with road construction and repair, classroom construction and renovation, volunteer teaching, and drilling water wells for local residential areas and schools.

Numerous patients, including locals and United Nations employees, have received excellent medical care and treatment from the Vietnam Level 2 Field hospitals in South Sudan. They also used innovative methods for identifying and treating patients in line with real-world circumstances. They performed intricate surgeries and air ambulance transfers of numerous risky situations with success.

Hoang Xuan Chien, deputy minister of national defense and head of the interdisciplinary working group, asked the department to intensify research and strategic consultation with leaders at all levels to progressively expand the number of forces, areas, and participating positions, particularly command positions at the UN headquarters, in nations and missions where Vietnam excels, including engineering forces, military police, communications, and military transportation.

It is necessary to continue to maintain and increase the rate of female soldiers participating in peacekeeping activities while working with relevant domestic agencies and international organizations to take advantage of support in terms of resources and sharing experiences, Chien, who is also head of the ministry’s steering committee on UN peacekeeping activities, said.

The force has also been ordered to enhance its capacity to perform the national peacekeeping coordination task.

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