Vietnam News Today (Oct. 20): Vietnam-Indonesia Strategic Partnership Bearing Fruit

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Vietnamese Ambassador to Indonesia Ta Van Thong.

Vietnam-Indonesia Strategic Partnership bearing fruit, says ambassador

The strategic partnership between Vietnam and Indonesia has been developing strongly, comprehensively, and sustainably across various fields, from politics, diplomacy, defense, and security, to economy, tourism, culture, and people-to-people exchanges, Vietnamese Ambassador to Indonesia Ta Van Thong has said.

Thong noted that Vietnam and Indonesia have treasured a long-standing traditional friendship for decades, through reciprocal visit exchanges between their top leaders. Notably, during President Truong Tan Sang’s visit to Indonesia in 2013, the two countries decided to elevate their relationship to a Strategic Partnership. Nine years later, President Nguyen Xuan Phuc’s state visit to Indonesia marked a historic milestone, as the two countries officially completed negotiations on the delimitation of their exclusive economic zones after 12 years.

Prime Minister Pham Minh Chinh also visited Indonesia three times in 2021 and 2023 as part of ASEAN Summit meetings, cited VOV.

Indonesian President Joko Widodo made two state visits to Vietnam in 2018 and 2024, while Prabowo Subianto also visited Vietnam in May 2022 as Minister of Defense and in September 2024 as the President-elect.

According to the diplomat, cooperation mechanisms such as the Vietnam – Indonesia Joint Commission on Bilateral Cooperation and the Joint Committee on Economic, Scientific, and Technical Cooperation provide important foundations for implementing specific cooperation initiatives.

A highlight of the Vietnam-Indonesia relationship is the robust growth in economic, trade, and investment ties. In ASEAN, Indonesia is Vietnam’s third-largest trading partner, while Vietnam is Indonesia’s fourth-largest trading partner. Despite the impact of COVID-19, bilateral trade has continued to grow positively, increasing from US$9 billion in 2019 to over US$14 billion in 2023.

Leading Vietnamese companies, such as VinFast (electric vehicle manufacturer), FPT (telecom company), Dien May Xanh (hypermarket), and TH (dairy company), have actively pursued investments in Indonesia.

People-to-people exchanges have also seen significant development, recovering strongly after COVID-19. Vietnam Airlines and VietJet Air have opened numerous routes connecting major Vietnamese cities such as Hanoi and Ho Chi Minh City, with major Indonesian destinations of Jakarta and Bali, resulting in promising growth in two-way tourism.

President-elect Prabowo Subianto will succeed President Joko Widodo in a swearing-in ceremony due to take place on October 20. Over the past decade, Widodo has led Indonesia to achieve remarkable milestones. Indonesia has maintained a trade surplus for 53 consecutive months despite challenging geopolitical and economic conditions, and its per capita GDP has reached a high average. It successfully served as the G20 president in 2022 and the ASEAN chair in 2023, enhancing the country’s role on the international stage.

“I am confident that the new President will continue to advance the positive development of Vietnam – Indonesia ties, aiming for the important milestone of celebrating 70 years of diplomatic relations (1955-2025) and elevating the Vietnam-Indonesia Strategic Partnership to new heights, as agreed upon by the two countries’ top leaders,” said Ambassador Thong.

In his view, Vice President Vo Thi Anh Xuan’s engagement in Prabowo’s inauguration ceremony not only reaffirms Vietnam’s consistent foreign policy of valuing its traditional friendship and strategic partnership with Indonesia, but also helps promote solidarity among ASEAN countries.

On this occasion, the two sides are expected to discuss activities to commemorate 70 years of their diplomatic relations and to promote high-level leadership visits in 2025. They will also explore further measures to enhance cooperation in emerging fields such as green energy, high-tech agriculture, cultural and educational exchanges, and tourism development.

Standard Chartered lifts forecast for Vietnam’s 2024 GDP growth to 6.8%

Standard Chartered has revised up its forecast for Vietnam’s 2024 GDP growth to 6.8% from the previous 6.0%, reflecting the stronger-than-expected expansion in the third quarter of this year.

In a report released on October 18, the bank’s economists said the country’s economic growth momentum has been relatively strong, with improvement across multiple sectors, including imports and exports, retail sales, real estate, tourism, construction, and manufacturing, according to VNA.

Standard Chartered has revised up its forecast for Vietnam’s 2024 GDP growth to 6.8% from the previous 6.0%. (Photo: VNA)

Trade recovery and increased business activities and foreign investment will be the main boosters for 2025 and beyond, they added.

Tim Leelahaphan, Standard Chartered Bank economist for Thailand and Vietnam, said: “While we remain cautious on Vietnam’s economy near-term, we also acknowledge the economy’s ability to perform better than market expectations.

“The government’s push for stronger economic growth may help maintain low interest rates in the near future, and Fed moves will also be key to the State Bank of Vietnam’s monetary policy decisions. We now expect a 50-basis point rate hike next year, rather than in Q4/2024 as previously anticipated.”

Standard Chartered forecasts Fed rate cuts, which should lead to a softer USD bias over the next few quarters, will result in a USD/VND exchange rate at 24,500 by the end of 2024 and 24,300 by mid-2025.

Vietnamese consumer goods introduced in France

The second Vietnamese consumer goods week in 2024 kicked off at the Carrefour supermarket in Collégien city of France on October 18, introducing Made-in-Vietnam goods to local French consumers.

The event that has been held annually at Carrefour supermarkets since 2000 was more extravagant this year, featuring a lavish feast of food, music, and goods, drawing the attention of many French customers, VOV reported.

Delegates cut the ribbon to open the second Vietnamese consumer goods week in 2024.

Addressing the opening ceremony, Vietnamese Ambassador to France Dinh Toan Thang stressed that enhancing promotional activities, cultural performances, and culinary experiences during the week enables French consumers to explore and gain a deeper understanding of Vietnamese culture.

For his part, CEO of Carrefour supermarket Julien Munch emphasized that introducing international products, including those from Vietnam, is one of the group’s priorities.

The week provides an opportunity for the French people to discover many new products and is also a chance to satisfy their culinary passions. Vietnamese cuisine, which embodies rich Asian flavors, is always warmly welcomed by our customers, said the CEO.

Visitors have the opportunity to experience a miniature Vietnamese space right in the heart of France, with decorations showcasing rich Vietnamese culture, such as village gates, lanterns, and images of famous landscapes.

One of the highlights of the event is the participation of the Vietnam Pepper and Spice Association. Local typical spice products, including pepper which is a key export product of Vietnam, have been introduced to visitors.

In addition, 10 Vietnamese businesses brought quality products to French consumers such as dragon fruit, mango, grapefruit and processed foods: nuoc mam (fish sauce), pho (noodles), bun (vermicelli) and cashew nut.

Carrefour France, one of the largest and most reputable supermarket chains in France, is a strategic partner that plays a crucial role in bringing Vietnamese products to consumers.

With its extensive distribution network and diverse customer base, Carrefour serves as an ideal channel for Vietnamese goods to get a stable market share in France.

Vietnam, UK see new opportunities to strengthen strategic partnership

Vietnam and the UK have new opportunities to strengthen their already robust cooperation over the past decades based on the solid foundation of the strategic partnership, said Parliamentary Under-Secretary of State for Indo-Pacific at the Foreign, Commonwealth and Development Office Catherine West.

West made this statement while attending the 79th anniversary of the National Day of Vietnam in London on the evening of October 17 (local time).

She affirmed that the new UK government is determined to cooperate with partners in Southeast Asia and the Indo-Pacific to address global challenges and support economic growth, cited VNA.

She noted that Vietnam's commitment to achieving net-zero emissions by 2050 is a testament to Vietnam's leadership role and vision for the future, stating that the UK is proud to be a partner in this journey alongside Vietnam and European partners through the Just Energy Transition Partnership (JETP).

Cooperation in climate and clean energy will support bilateral trade, she noted, pointing out achievements in key cooperation areas such as education, science and technology, innovation, healthcare, digital transformation, and advanced industries. She expressed her desire to further promote collaboration with Vietnam in these areas during her visit to Vietnam next week.

Speaking at the ceremony, Vietnamese Ambassador to the UK Do Minh Hung noted that in 2025, the two countries will celebrate the 15th anniversary of their strategic partnership, affirming that bilateral cooperation has developed robustly in recent years.

He emphasized that political trust has been strengthened through regular exchanges of high-level delegations, citing the upcoming visit of West to Vietnam as a vivid example.

The ambassador said investment and trade remain the key pillars of the bilateral relationship, while cooperation in defense-security, education, innovation, and science and technology is also growing robustly. Both sides are working closely to create new drivers for the partnership, particularly in areas like energy transition and green finance.

At the regional and global levels, the two countries are committed to promoting free trade and sustainable development, multilateralism, safety, security, freedom of navigation, and the peaceful resolution of disputes in line with the UN Charter.

They also aim to build an open, inclusive regional structure and global governance based on international law, the diplomat continued.

Hung expressed his gratitude to the British government and people, as well as diplomatic missions and international friends in the UK, for their cooperation and support for Vietnam. He also thanked the Vietnamese community in the UK for their contributions to the nation's prosperity and cultural diversity, and the strengthening of the friendship between the two countries.

At the celebration, guests enjoyed performances by Vietnamese and international violin and piano artists, and sampled the rich culinary offerings of Vietnam.

Two cold fronts hit northern Vietnam, potential tropical storm in East Sea

Two consecutive cold fronts are set to bring cooler temperatures to Northern Vietnam, while a potential tropical storm may develop in the East Sea between October 23-25.

According to the National Center for Hydro-Meteorological Forecasting, Northern Vietnam will see two cold fronts in the coming days. The first, arriving on October 19, will primarily affect the northeastern region, strengthening winds over the northern East Sea without impacting the mainland. The second front, expected on October 22, will bring rain and a drop in temperatures across the region.

This second cold front will lead to cooler weather at night and early morning across the north, with chilly conditions in mountainous areas. Winds over the Gulf of Tonkin will reach levels of 6, with gusts up to 8. Central Vietnam will experience moderate to heavy rains, VNN reported.

Weather in Northern Vietnam is expected to be impacted by two consecutive cold fronts. Photo: Nam Khanh

The meteorological agency also warned of possible tropical depression or storm activity in the East Sea between October 23-25.

Weather forecast from October 19-25 across Vietnam:

Northern Region

- October 19-22: Scattered rain and light morning fog, with sunshine in the afternoon. The northeast may see scattered showers and thunderstorms at night and early morning. Storms may bring gusty winds, whirlwinds, and lightning.

- October 23-25: No rain, with sunny afternoons. Cold weather at night and early morning, particularly in mountainous areas.

Central Region

- Thanh Hoa to Thua Thien-Hue:

- October 19-20: Scattered showers and thunderstorms, with the potential for strong winds, whirlwinds, and lightning during storms.

- Night of October 20-22: Moderate to heavy rain, with localized downpours.

- October 23-25: Light rain; the southern part may see moderate to heavy rain on October 23-24, with localized downpours.

- Da Nang to Binh Thuan:

- October 19-20: Light rain and thunderstorms in some areas, with sunny days.

- Night of October 20-21: Moderate rain and thunderstorms, with localized downpours.

- Night of October 21-24: Expected moderate to heavy rain and thunderstorms, with localized downpours. Heavy rain is expected to ease from October 25.

Central Highlands and Southern Vietnam

- Afternoon and Evening: Scattered showers and thunderstorms, with localized heavy rain. Strong winds, whirlwinds, and lightning are possible during storms.

Hanoi

- October 19-22: Scattered showers and thunderstorms at night and early morning, with sunny afternoons. Storms may bring gusty winds, whirlwinds, and lightning.

- October 23-25: No rain, with sunny afternoons. Cool at night and early morning.

Additionally, wave heights across most sea areas are expected to increase between October 19-25. The northern and central East Sea (including the Hoang Sa Archipelago) will see wave heights between 3-5 meters. The southern East Sea (including the Truong Sa Archipelago) and the seas off Central and South-Central Vietnam will experience waves of 2-4 meters, while other areas will have smaller waves under 2 meters.

It is worth noting that around October 21-22, a tropical convergence zone (ITCZ) is predicted to form in the central East Sea, potentially developing into a tropical cyclone. Between October 23-25, there is a high chance of tropical depression or storm activity in the East Sea.

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