Illustrative image. Photo: VNA

Additional 574 Covid-19 cases confirmed on November 25

The national Covid-19 caseload rose to 11,513,747 with 574 new cases recorded on November 23, according to the Ministry of Health.

With 169 patients given the all clear during the day, the number of recoveries rose to 10,607,851.

Meanwhile, there are 86 patients needing breathing support, cited VNA.

No death from Covid-19 was recorded in the past 24 hours. The total fatalities stood at 43,170.

With 92,443 doses administered on November 24, the total number of doses of Covid-19 vaccines injected rose to 263,754,578.

Vietnamese and RoK businesses enhance technological connectivity

The Hai Phong Department of Science and Technology and the Korea Trade and Investment Promotion Agency in Hanoi (KOTRA Hanoi) hosted a business matching on November 25 as part of efforts to connect technology supply and demand between local firms and the Republic of Korea (RoK).

The event took place via both virtual and in-person platforms in Hai Phong and at four locations in the RoK, including Incheon, Gyeonggi-do, Bussan, and Seoul.

Upon addressing the event, Tran Quang Tuan, director of the Hai Phong Department of Science and Technology, emphasised that the northern city is exerting great efforts to develop into a leading destination for investment in the cause of industrialisation and modernisation, thereby becoming a typical Asian city.

Overview of the business matching event. Photo: VNA

Tuan noted that the application of science and technology has played a significant role in the development of businesses as part of efforts to help both local and foreign businesses gain greater insights each other's needs and advantages.

Therefore, the Hai Phong Department of Science and Technology hosted four networking sessions in order to connect Vietnamese enterprises and businesses from other countries, including Taiwan (China), Israel, Japan, and the RoK.

During the course of the networking sessions there are more than 200 meetings being held between Vietnamese enterprises and foreign firms while over 50 technology solutions were provided to large Vietnamese enterprises, according to VOV.

Most notably, the RoK's LG Group has co-operated alongside Vietnamese businesses to launch products in the supporting industry.

Le Thanh Son, director of Thuong Nam Company Limited, stressed that the business matching event between Vietnamese firms and enterprises in other countries have been practical in supporting businesses gain greater access to advanced technologies in the world at reasonable prices.

Vietnam, Laos eye US$2 billion in two-way trade

Vietnam and Laos expect to achieve 2 billion USD in two-way trade in the near future, given that the figure surged 28.2% annually to 1.4 billion USD in ten months of this year, heard a forum held in Vientiane on November 25.

Speaking at the event, Somvixay Vongthilath, Deputy Director of Trade Promotion Department under the Lao Ministry of Industry and Commerce (MIC), said the event offers a chance to listen to concerns of businesses and review the efficiency of existing cooperation frameworks to fine-tune policies, mechanisms and laws, thus helping firms improve their production and export capacity, even export to the third country.

Illustrative image. Photo: VNA

Deputy head of the Vietnamese Ministry of Industry and Trade’s Department of Asia-Africa Markets Do Quoc Hung said Laos now ranks first among 78 countries and territories invested by Vietnam. Meanwhile, Vietnam is the third biggest investor in Laos, mostly in agriculture, banking, finance, telecommunications, manufacturing and processing.

Reports at the event focused on trade achievements between the two countries, bilateral cooperation in market management and energy development, VNA reported.

Vice Chairman of the Vietnamese Business Association in Laos Nguyen Xuan Ha suggested the MIC issue policies to protect domestically-made goods and importers of goods via official channels.

He also urged the two governments and the Lao Ministry of Public Works and Transport to soon upgrade the Lao section of road linking Vietnam and Laos and build the Hanoi-Vientiane expressway to save time and cost of trade between the two nations.

Participants at the event debated ways to pool more resources and corporate involvement in trade infrastructure, retail distribution and processing industry to achieve the set target of 2 billion USD soon.

VinFast exports first batch of EVs to US

Prime Minister Pham Minh Chinh on November 25 attended a ceremony in the northern port city of Hai Phong to export the first batch of VinFast electronic vehicles (EVs) to the US.

Accordingly, 999 EVs of VF8 model, boarded Panamanian vehicles carrier Silver Queen, are expected to arrive in California in the next 20 days and be handed over to the first consumers by the end of December.

This is the first batch shipped abroad among 65,000 orders of VF8 and VF9 models. After the US market, the first Vietnamese EV maker will export other batches to Canada and Europe to hand over to its customers in 2023.

US Ambassador to Vietnam Marc E. Knapper expressed his delight that VinFast has placed its confidence in the future of electric vehicles in the US market, as the manufacturer also has its factory built in the country.

Prime Minister Pham Minh Chinh (C) and other delegates attend the ceremony to export the first batch of VinFast electronic vehicles to the US. Photo: VNA

The handover of the first EVs to customers in the US is a manifestation for the fine US-Vietnam relations, especially when the two countries are preparing for the celebration of the 10th anniversary of their comprehensive partnership next year, he added.

PM Chinh said that over the past years, the Vietnamese Party and State have issued a lot of policies to encourage and support the development of the automobile industry, cited WVR.

VinFast’s initial achievement opens up a new EV era in Vietnam, affirming the soundness of the leadership and directions of the Party and the Government, he stressed.

The Government leader also highlighted the need for enterprises to increase investments in developing technology, high technology, and manufacturing and processing industry, for the future of not only the nation but also the businesses themselves.

Vietnam-South Africa seek opportunities to boost trade co-operation

Vietnamese Deputy Minister of Industry and Trade Tran Quoc Khanh and South African Deputy Minister of Trade, Industry and Competition Nomalungelo Gina co-chaired the fifth meeting of the Vietnam-South Africa Joint Trade Committee on November 24 in Johannesburg in the Republic of South Africa.

As part of her speech at the meeting, South African Deputy Minister Gina emphasised that her country always attaches great importance to the relationship with Vietnam, which was originally established nearly 30 years ago, with the relationship consistently being cultivated by both sides during this time.

She went on to say that Vietnam represents South Africa's ninth largest trading partner in Asia, while South Africa is currently the largest Vietnamese trading partner in Africa.

According to Deputy Minister Gina, the signing and enforcement of the African Continental Free Trade Area (AfCFTA) will bring about plenty of fresh investment opportunities to an open and broader market for Vietnamese businesses.

She emphasised that the African nation encourages countries like Vietnam to not only view the continent as an export market, but to see it as an increasingly important investment destination.

In response, Deputy Minister Khanh stated that the fifth meeting of the JTC between the two sides is taken place at an opportune time as both economies have fully reopened with economic and trade activities recovering strongly after more than two years of being affected by the Covid-19 pandemic.

According to the Vietnamese Deputy Minister, the successful organisation of this meeting will contributing to the celebration of 30 years of diplomatic ties between the two countries next year, thus deepening their sound political, diplomatic, and economic relations.

Furthermore, the regional and global situation has undergone an array of profound changes, which pose both opportunities and challenges for the two economies, thereby requiring them to enhance connection and mutually beneficial co-operation, cited VOV.

During the course of the meeting the two sides exchanged opinions on a report on the results of the technical meeting and a number of issues of mutual concern, raised difficulties and advantages, as well as discussing co-operation opportunities in the future.

Mutual trade turnover hit a record high of nearly US$1.4 billion in 2020. Despite being negatively affected by the Covid-19 pandemic and difficulties occurring in the global logistics industry, trade exchange in 2021 reached close to US$1.3 billion and US$1.1 billion over the past 10 months of the year.

According to Deputy Minister Khanh, both countries are open economies, with foreign trade playing an important role, meaning there is great potential for further developments.

Most notably Vietnam is currently an important link in the regional and global supply chains of electronics, iron and steel, seafood, food, garments and textiles, footwear, and furniture. In contrast, South Africa is viewed as a nation with the most developed economy in Africa, boasting a Gross Domestic Product (GDP) of nearly US$420 billion and developed infrastructure.

It is therefore the driving force behind the development of 14 countries in the Southern African Development Community (SADC).

Furthermore, the structure of import and export goods of the two countries is not competitive but complementary. Specifically, South Africa has needs to import agricultural products such as rice, coffee, and pepper, along with electronic products, seafood, and garments and textiles from Vietnam.

Moreover, the Vietnamese side has the need to import minerals such as coal, titanium, iron ore, and other common metals, machinery and equipment, wood, chemicals, wine, fruit, and raw leather from South Africa.

Along with this, the two countries have different seasons, so the import and export of agricultural products between the two countries also has great potential.

However, Deputy Minister Khanh assessed that difficulties remain in economic and trade relations between the two nations, including limited information exchange and a long geographical distance, thus reducing the competitive advantage of each country's exports.

Deputy Minister Khanh also said that bilateral turnover is not commensurate with the inherent potential of the two sides.

Currently, Vietnamese exports to South Africa account for only about 1.4% of their global imports, whilst South African exports to Vietnam also make up less than 0.5% of total Vietnamese imports from across the globe.

In order to overcome these difficulties and take advantage of further co-operation opportunities, Deputy Minister Khanh made a number of proposals, including intensifying information exchanges relating to trade and investment policies, as well as regulations related to exports and imports.

Vietnamese Deputy Minister of Industry and Trade Tran Quoc Khanh (L) and South African Deputy Minister of Trade, Industry and Competition Nomalungelo Gina. Photo: VNA

Thanks to this, businesses will be able to boost co-operation and mutual support to carry out trade and investment promotion activities and study further co-operation opportunities in the field of logistics as a means of strengthen the logistics connection between the two countries. This is along with ramping up co-operation in potential industrial fields such as mining for coal, titanium, and rare earth minerals, mechanical engineering, metallurgy, iron and steel, renewable energy, footwear, fertilizer, food processing, as well as co-operation in the field of supporting industries and automobile manufacturing and auto parts.

Deputy Minister Khanh also proposed that the two ministries further strengthen exchanges between professional management units.

At the end of the meeting, the two sides agreed, signed, and exchanged Minutes of the fifth meeting of the Joint Trade Committee between Vietnam and South Africa.

With sustained efforts to promote trade, industry, and energy co-operation between the two countries, the Vietnamese Deputy Minister agreed with the proposal to hold the sixth meeting in Vietnam in 2023, with the specific organisation to be discussed and agreed upon by the two sides at a later date.

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