Vietnam News Today (Nov. 6): PM Arrives in Kunming, Beginning Activities in China

	Vietnam News Today (Nov. 4): PM Pham Minh Chinh to Attend Greater Mekong Subregion Summit in China
	Vietnam News Today (Nov. 5): Vietnam Seeks Stronger Legislative Ties with Canada

Prime Minister Pham Minh Chinh (C) welcomed at Kunming Changshui International Airport (Photo: VNA)

PM arrives in Kunming, beginning activities in China

Prime Minister Pham Minh Chinh and his entourage arrived at Kunming Changshui International Airport in China’s Yunnan province on November 5 morning, starting their working trip to attend the 8th Greater Mekong Sub-region (GMS) Summit and hold bilateral activities in the country.

Chinh’s four-day trip, made at the invitation of Chinese Premier Li Qiang, also includes attendance at the 10th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) Summit, and the 11th Cambodia-Laos-Myanmar-Vietnam (CLMV) Cooperation Summit, cited VNA.

Welcoming him at the airport were Liu Fei, member of the standing board and head of the organization commission of the Yunnan provincial Party Committee; Chinese Ambassador to Vietnam He Wei; and Vietnamese Ambassador to China Pham Sao Mai, among others.

These are the first in-person high-level activities of the GMS, ACMECS, and CLMV mechanisms since 2018. Vietnam views these cooperation platforms as strategic venues to connect with top partners and enhance international support for the Mekong sub-region's development.

Vietnam's active and proactive participation in these mechanisms reflects its commitment to contributing to the common interests of the region, improving sub-regional cooperation effectiveness, and effectively pooling external resources for national development.

This working trip comes at a time when Vietnam-China fine neighborliness is flourishing, characterized by the comprehensive strategic cooperative partnership and a community with a shared future that carries strategic significance. The highlight is high-level visits between the two countries' leaders in recent times.

Economic cooperation, trade, and investment between Vietnam and China have seen substantial strides, with two-way trade reaching 171.9 billion USD in 2023. China remains Vietnam’s largest trade partner and second largest export market. Meanwhile, Vietnam is China's largest trade partner in ASEAN and its fifth largest globally.

The trip underscores Vietnam’s message of valuing and contributing to the promotion of the GMS, ACMECS, and CLMV mechanisms, as well as overall Mekong sub-regional cooperation, creating a breakthrough in a new phase of development. At the same time, it aims to continue strengthening and boosting friendly neighborliness and the comprehensive strategic cooperative partnership between the two countries and the Vietnam - China community with a shared future that carries strategic significance.

Singapore desires to lift ties with Vietnam to highest level in 2025

Singapore desires to elevate its relationship with Vietnam to a Comprehensive Strategic Partnership in 2025, ambassador Jaya Ratnam told Ho Chi Minh City Party Committee Secretary Nguyen Van Nen at a reception in the city on November 5.

He said the relationship between the two countries has flourished considerably in recent times and the upgrade will not only recognize the strong existing ties but also create a more robust framework to further strengthen economic, political, and security cooperation in the long term.

Ratnam appreciated the dynamism and creativity of Ho Chi Minh City, as well as the opportunities provided by the National Assembly Resolution 98/2023/QH15 on special mechanisms for the city’s development.

He said he believes that enhancing cooperation in data management will attract semiconductor companies and foreign direct investment to the city. The diplomat hoped to see robust development in various collaborative fields, including energy and education, between Singapore and Ho Chi Minh City in the near future.

Nen for his part said that Ho Chi Minh City is hastening sustainable development, with a strong focus on digital transformation, green transformation, and energy transition, according to VOV.

Ho Chi Minh City Party Committee Secretary Nguyen Van Nen (R) receives Singaporean Ambassador to Vietnam Jaya Ratnam on November 5. (Photo: tuoitre.vn)

The city is particularly interested in areas where Singapore has expertise, such as human resource training, he told his guest, adding that the city is implementing administrative reform programs, including public policy reform, smart city development, and digital transformation.

Ho Chi Minh City hopes that Singapore will share its knowledge and support for win-win results, the Party official said.

According to the Party official, the Southern Key Economic Region, with Ho Chi Minh City as its core, has made significant contributions to the national economy and has been authorized to pilot exceptional, specialized policies to foster breakthroughs.

This region is well-suited for major projects, especially as it prepares to launch the trans-Asia railway and transportation corridor from Ho Chi Minh City through Tay Ninh to Phnom Penh.

Many cultural artistic events planned for Da Lat Flower Festival 2024

Many cultural and artistic events have been planned for the 10th Da Lat Flower Festival which will take place in the Central Highlands province of Lam Dong from December 5-31, said Vice Chairman of the provincial People’s Committee Pham S.

Speaking at a press conference to announce the festival in Hanoi on November 5, the provincial leader said that unlike previous editions, this year’s festival is held throughout the year with numerous key events being organized in December.

The festival is organized with the involvement of society, he said, adding apart from main events, there will be 12 response activities that are held by companies and individuals, VNA reported.

A floral work at the Da Lat Flower Festival in 2022. (Photo: VNA)

Flowers will be placed in parks, along streets, in residential areas, and tourist attractions in Da Lat city and surrounding areas thanks to the participation of businesses, organizations and households.

Director of the provincial Department of Culture, Sports and Tourism Nguyen Trung Kien said that under the theme “Da Lat Flowers – Symphony of Colors”, the festival continues to affirm Da Lat as a city of flower festivals, a UNESCO Creative City in music, and one of top five most impressive festival city in Asia.

It will include ten main events such as a New Year’s music show, an international seminar on green tourism and cultural industries, a “wine - tea - coffee street,” and a flower parade with floats and fashion.

The opening ceremony will be televised live on December 5, and the closing show on December 31.

Lam Dong aims to draw 2 million visitors during the festival.

10-month FDI capital into Vietnam surpasses US$27 billion

The total registered capital for new investments, adjustments, and share purchases by foreign investors in Vietnam reached nearly US$ 27.3 billion after 10 months, a 2% increase compared to the same period in 2023, according to the Foreign Investment Agency.

As many as 2,743 new projects were granted investment registration certificates (up 1%), with total registered capital reaching nearly US$12.23 billion (down 3%). In addition, 1,151 projects registered for capital adjustments (up 6%), with additional registered capital of nearly US$8.35 billion (up 42%).

There were also 2,669 transactions involving capital contributions or share purchases by foreign investors (down 10%), totaling over US$3.68 billion (down 29%).

Foreign investors poured investments into 18 out of 21 economic sectors. Manufacturing and processing took the lead with total FDI hitting nearly US$17.1 billion, accounting for nearly 63% of total registered capital, but decreasing by 15% compared to the same period last year, cited VOV.

10-month FDI investment into Vietnam increases 2% to over US$27 billion.

In total, 106 countries and territories invested in Vietnam over the past 10 months. Singapore was the largest investor, injecting more than US$7.79 billion, up 61% year on year. It was followed by China, the Republic of Korea, Japan, and Hong Kong.

In terms of project count, China took the lead in new investment projects this year, making up 29% of the total, while the Republic of Korea led in capital adjustments, representing 23% and in capital contribution/share purchase transactions - 26%.

Foreign investors channeled investment into 55 provinces and cities across Vietnam over the past 10 months.

Bac Ninh was the largest recipient with nearly US$4.7 billion, marking a 3.15-fold increase over the same period last year. It was followed by Ho Chi Minh City, Quang Ninh, Hai Phong, Ba Ria - Vung Tau, Binh Duong, and Hanoi.

By the end of October, foreign investment projects were estimated to have disbursed over US$19.58 billion, an increase of 9% year on year.

The foreign-invested sector achieved a trade surplus of nearly US$42.4 billion, including crude oil, and a surplus of over US$40.8 billion excluding crude oil. In contrast, the domestic enterprise sector recorded a trade deficit of nearly US$19.4 billion.

WB, Switzerland help boost Vietnam’s sustainable urban development

The Swiss Government and the World Bank (WB) on Monday signed an agreement to promote green and resilient growth in Vietnam’s major cities.

The US$5 million grant initiative, financed by the Swiss State Secretariat for Economic Affairs (SECO), aims to strengthen the ongoing partnership between Switzerland and the WB in advancing sustainable urban development in Vietnam.

"This grant enables us to support continued dialogue to integrate sustainable practices within the city's urban planning and economic policies, building a model for climate-resilient, and low-carbon urban development", said Mariam J. Sherman, WB Country Director for Vietnam, Cambodia and Lao PDR.

"The funding will deepen our engagement with Vietnam's largest cities, particularly Ho Chi Minh City, Da Nang, and Can Tho, as they advance toward a vision of green growth", she added.

The Vietnam Accelerating Green and Resilient Growth in Large Cities Single-Donor Trust Fund aims to help large Vietnamese cities grow more sustainably while managing the increasing risks and mitigating the future impacts of climate change, VGP reported.

Swiss Ambassador to Vietnam Thomas Gass (L), and World Bank Country Director for Vietnam, Cambodia and Lao PDR, Mariam J. Sherman, at the signing ceremony of the Vietnam Accelerating Green and Resilient Growth in Large Cities Single-Donor Trust Fund, Hanoi, November 4, 2024. Photo: VGP

Under this program, the WB will develop a knowledge base of technical and operational best practices, drawing on international expertise adapted to the local context, to provide strategic solutions for urban challenges.

The program will also strengthen policy-making capacity and support cities and national agencies in mobilizing and diversifying financial resources for investment projects while promoting collaboration and knowledge sharing.

This partnership reflects Switzerland's commitment to sustainable urban development in Vietnam, said Thomas Gass, Swiss Ambassador to Vietnam.

"By combining Swiss financing with WB knowledge, we aim to help Vietnamese cities achieve their green growth objectives while building resilience against climate challenges", he stated.

Switzerland and the WB have been long-term strategic partners in supporting urban development in Vietnam.

This initiative builds on previous successful collaborations, including one that established the country's first flood risk management system in Can Tho City.

The impact of these joint efforts extends beyond Vietnam, shaping the WB's Sustainable Urban and Regional Development Program and City Resilience Program, both of which are also financed by Switzerland at the global level.

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