USAID/Vietnam Mission Director Grubbs addresses the event.

US, Vietnam launch new activity to facilitate digital trade

The United States Mission to Vietnam and the Ministry of Industry and Trade (MOIT) on October 13 launched a US$3.25 million activity, supported by the US Agency for International Development (USAID), to facilitate digital trade.

The activity comes as part of the new US – Vietnam Comprehensive Strategic Partnership announced during US President Joseph Biden’s visit to Vietnam last month, cited VOV.

“During his recent visit, President Biden emphasized the United States’ commitment to support Vietnam to compete in a digital global economy,” says USAID/Vietnam Mission Director Grubbs.

“We are pleased to sign an MOU with MOIT. This new digital trade activity led by USAID and MOIT is our first to be launched under our two countries’ newly upgraded partnership and will go a long way toward unleashing the potential of digital trade to form a key driver of the country’s continued growth.”

USAID’s three-year activity, called Vietnam Digital Trade, supports MOIT’s implementation of policy frameworks that facilitate digital trade, in consultation with the private sector. Regulations that are responsive to private sector needs remove trade bottlenecks and increase regulatory transparency, helping to shape an e-commerce sector where enterprises of all sizes can benefit.

In addition, the activity encourages small and medium enterprise participation in digital trade by introducing new business models and other best practices, such as traceability of goods, as well as facilitating cross-border connections between enterprises via MOIT’s digital trade promotion platform, called DECOBIZ. The project supports business associations such as the Vietnam Chamber of Commerce and Industry and Vietnam E-commerce Association to promote digital trade across the country. The project works through MOIT and business associations to target female-owned enterprises and minority communities in support of inclusive economic growth.

USAID’s Vietnam Digital Trade activity advances the US Indo-Pacific Economic Framework for Prosperity, under which Vietnam and the United States partner to harness innovation and pursue high-standard rules of the road in the digital economy to drive continued growth. This activity builds on the United States’ successful partnership with Vietnam over the past two decades facilitating increased trade and improving the business enabling environment.

Naval forces of Vietnam, Singapore enhance solidarity via friendship exchange

The naval forces of Vietnam and Singapore joined in a friendship exchange on Sailing Ship 286-Le Quy Don on October 12, part of the Vietnamese vessel’s visit to the city state.

The event was attended by officers, sailors, and trainees from Ship Le Quy Don, leaders of the Maritime Training and Doctrine Command of Singapore, officers and sailors of the Singaporean navy, and representatives of the Vietnamese Embassy and defense attaché in Singapore.

Col. Bui Duy Thong, Deputy Political Commissar of the Vietnam Naval Academy, expressed his hope that direct exchanges between naval officers, sailors, and trainees of the countries will help further enhance the solidarity, mutual understanding, and trust between the two navies as well as the two militaries in general.

Sailing Ship 286-Le Quy Don of Vietnam docks at Changi Naval Base of Singapore. (Photo: VNA)

Col. Rinson Chua, Commander of the Maritime Training and Doctrine Command, said the close relationship between the Singaporean and Vietnamese navies has been reflected in highly practical cooperation activities such as setting up working groups and holding mutual visits.

He hoped the two navies will promote stronger coordination and cooperation in the coming years, and to do so, their naval leaders should keep consolidating the current friendship and mutual trust. Port visits like this time’s trip will provide opportunities for both sides to reinforce their mutual understanding and strategic trust.

Echoing the view, Vietnamese Ambassador Mai Phuoc Dung noted that cooperation between the countries’ militaries and navies has been growing over the past years, according to VOV.

The visit by Ship Le Quy Don will help the two navies learn from each other and strengthen mutual understanding and trust, the diplomat said, voicing his hope that more trips between the naval forces will be organized in the future.

Sailing Ship 286-Le Quy Don arrived at Port of Changi on October 10 for a three-day visit. The trip, the ninth to Singapore by a vessel of the Vietnamese navy and the second by Ship Le Quy Don, took place amid numerous activities being held in both countries to mark the 50th anniversary of their diplomatic ties and the 10th anniversary of the strategic partnership.

During the visit, the Vietnamese naval delegation also paid a courtesy call to the commander of the Singaporean navy, joined in cultural and sport exchanges with the Singaporean side, and toured some local historical and cultural relic sites.

Ample room remains for Vietnam-Malaysia cooperation: ambassador

Vietnam and Malaysia still have a lot of room for cooperation thanks to each country's internal strength and opportunities brought about by the digital economic era and the fourth Industrial Revolution, according to Vietnamese Ambassador to Malaysia Dinh Ngoc Linh.

Linh made the statement on October 12 while addressing a ceremony to mark the 78th National Day of Vietnam (September 2, 1945-2023), and the 50th anniversary of the establishment of the two countries’ diplomatic ties.

He recalled the official visit to Vietnam by Prime Minister Anwar Ibrahim in July, saying that it helped consolidate the political foundation, and create new momentum for bilateral cooperation in politics, economics, defence, security, digital economy, cyber security, and response to non-traditional security challenges.

With huge potential of both countries, the bilateral traditional friendship and multifaceted cooperation will make strides in the coming years, bringing about benefits for the two peoples and contributing to peace and prosperity in the region, VNA reported.

Delegates to the ceremony posing for a photo (Photo: VNA)

Malaysian Minister of Entrepreneur Development and Cooperatives Ewon Benedick affirmed that Vietnam is an important partner of Malaysia, both at the bilateral level and within the ASEAN framework.

The 50th founding anniversary of bilateral diplomatic relations is a historical milestone recognizing the long-term relationship that the two countries have cultivated over the years and the need to continue to strengthen closer partnership in the coming time to build up mutual understanding and collaboration for common prosperity and peace, he added.

At the event, 50 photos featuring the two countries’ relations and Vietnam’s heritage and landscapes were displayed.

Around 500 guests were also treated to Vietnamese dishes, and art performances, together with an ‘ao dai’ (Vietnamese traditional gown) show.

Ambassador highlights significance of President's forthcoming working visit to China

President Vo Van Thuong will lead a high-ranking Vietnamese delegation to attend the third Belt and Road Forum for International Cooperation in the Chinese capital of Beijing, from October 17 to October 20 at the invitation of the General Secretary of the Communist Party of China Central Committee and President of China Xi Jinping.

Ahead of the occasion, the Vietnamese Ambassador to China Pham Sao Mai gave an interview to Vietnamese press agencies based in China about issues relating to the working trip.

Regarding the purpose and significance of President Thuong's trip, Ambassador Mai said that this marks the Vietnamese State leader’s first business trip to China in his capacity as Vietnamese President. Indeed, it is the third time that senior Vietnamese leaders will attend the event organized by China, which is a continuation of regular exchanges and contacts between senior leaders of the two Parties and two countries over recent times.

With this year commemorating the 15th anniversary of the joint comprehensive strategic cooperative partnership and the 10th anniversary of the formation and development of the Belt and Road Initiative (BRI), this time the visit by President Thuong is of great significance. Indeed, it demonstrates the high regard and top priority given by the Vietnamese Party and State to developing relations with China, as well as expressing their welcome and respect for connectivity initiatives, including BRI to achieve the goals of peace, stability, and prosperity in the region and the world as a whole.

This represents an opportunity for the two countries' senior leaders to continue to hold in-depth discussions on measures aimed at securing high-level common perceptions, especially the historic official visit to China by General Secretary Nguyen Phu Trong in 2022.

This has helped to promote the Vietnam - China Comprehensive Strategic Cooperative Partnership by continuing to develop in a stable, healthy, and substantial manner with higher political trust and practical co-operation based on stronger social foundation and better controlled disagreements.

Amid the international situation involving many complex and unpredictable developments, as well as the world economy undergoing profound changes, President Thuong and his delegation’s attendance at the third Belt and Road Forum for International Cooperation are practical activities aimed at consistently carrying out a foreign policy of independence, self-reliance, peace, friendship, co-operation and development, multilateralization, diversification, and active international integration.

Vietnamese Ambassador to China Pham Sao Mai.

Furthermore, the occasion seeks to convey the message that the Vietnamese side is a friend, a trusted partner, and both an active and responsible member of the international community that contributes to peace, building stability, increasing development, and boosting co-operation in the region and throughout the world.

Regarding the key contents of the event and contributions of the high-level Vietnamese delegation at the forum, the Vietnamese diplomat noted that the function will focus on discussing and summarizing BRI achievements over the past decade, as well as exchanging prospects and directions for future ties, VOV reported.

The forum includes three high-level sessions with focused content on the digital economy as a new driving force of growth, connection in an open global economy, a green silk road for harmony with the world, and six other forums on trade connections, people-to-people exchanges, clean silk road, local co-operation, links between research agencies, and co-operation at sea.

The Vietnamese President’s important speeches at the event will be given alongside the participation of senior leaders of many countries, delegates, and the business community from about 140 countries and international organisations. This will contribute to adding the country’s voice to promoting peace, collaboration, economic integration, and regional connectivity, thereby deepening relations with countries around the world as a contribution to promoting regional and global economic growth and effectively implementing the UN’s 2030 Sustainable Development Goals.

Moreover, it offers a platform to Vietnam to promote socio-economic development achievements, share major messages about the nation’s goals, perspectives, and development orientation in a bid to effectively attract international resources to further serve socio-economic development goals. This includes a focus on green transformation, digital transformation, as well as inclusive and people-centered growth, thereby raising the country's role and position in the international arena, Ambassador Mai added.

Vietnam's CPI forecast to rise over 3% in 2023

Vietnam’s consumer price index (CPI) this year is projected to rise in the range of 3.2-3.6%, according to the Ministry of Finance.

Based on the target of controlling inflation at 4.5% in all of 2023, the Ministry of Finance outlined two scenarios for inflation throughout the year during a meeting on price management held on October 11.

In the first scenario, the average CPI in 2023 is expected to increase by 3.2% compared to 2022, while the second scenario projects a 3.6% increase, cited Saigon Times.

Concurrently, the General Statistics Office has predicted that the 2023 CPI would edge up in the range of 3.3% to 3.6%.

The ministry noted that Vietnam is currently in a favorable position to adjust the prices of certain commodities managed by the State. However, further efforts and active involvement from relevant agencies are required to achieve the goal of controlling inflation in 2023.

In the fourth quarter of 2023, relevant departments, agencies, and localities should proactively review and assess strategies to minimize adverse effects resulting from price adjustments of essential goods for low-income individuals and vulnerable groups.

Local authorities are encouraged to exercise proactive control and monitoring of market supply and demand to manage prices effectively for essential commodities, ensuring a stable supply for the 2024 Lunar New Year.

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