Vietnam News Today (Oct. 28): Vietnamese Digital Economy Fastest Growing in Southeast Asia

Vietnam News Today (Oct. 28): 484 new Covid-19 cases recorded on October 27; Vietnamese digital economy fastest growing in Southeast Asia; Vietnam promotes basic principles of international law; Vietnam to master technology for producing 15 types of vaccines by 2030.
October 28, 2022 | 06:00

Vietnam News Today (Oct. 28) notable headlines

484 new Covid-19 cases recorded on October 27

Vietnamese digital economy fastest growing in Southeast Asia

Vietnam promotes basic principles of international law

Vietnam to master technology for producing 15 types of vaccines by 2030

Vietnam and China cooperate in high-tech agriculture training

Vietnam's food businesses enjoy opportunities to increase exports

Vietnam, Morocco boost cooperation in finance, banking

Party leader’s upcoming visit to take Vietnam-China ties to new development period

Australian, Vietnamese experts develop new rice variety to tackle climate change

Vietnam News Today (Oct. 28):
Illustrative photo. Source: VNA

484 new Covid-19 cases recorded on October 27

The national Covid-19 caseload rose to 11,498,873 with 484 new cases recorded on October 27, according to the Ministry of Health.

With 324 patients given the all clear during the day, the number of recoveries rose to 10,602,259.

Meanwhile, there are 64 patients needing breathing support, cited VNA.

Three deaths from Covid-19 were recorded in the past 24 hours. The total fatalities stood at 43,165.

As of the end of October 26, the total number of doses of Covid-19 vaccines injected was 261,608,532 with 96,085 doses administered on October 26.

Vietnamese digital economy fastest growing in Southeast Asia

Vietnam’s digital economy has secured the fastest rate of growth in Southeast Asia this year, with its gross merchandise value (GMV) set to rise 28% annually from US$18 billion last year to US$23 billion this year, said Google, Temasek, and Bain&Company in a report released on October 27.

This impressive performance is partly attributed to the 26% growth of e-commerce services in the country, they said.

According to the report, Vietnam is one of the countries that have quickly resumed socio-economic activities following the Covid-19 outbreak being brought under control. E-commerce has become the driving force behind the country’s digital economy growth, with 90% of digital consumers planning to maintain or even increase their use of e-commerce platforms over the next 12 months. Indeed, a majority of consumers focus on food delivery, at 60%, whilst online shopping makes up 54% of services.

Urban digital users have been most accepting of digital services, with e-commerce, food, and grocery services topping the list at 96%, 85%, and 85%, respectively. On the other hand, the frequency of a Vietnamese person consuming digital content remains lower than the regional average with 23% of survey respondents saying that they watch videos on demand at least once per week, followed by 19% for online gaming, and 16% for on-demand music. These figures highlight that Vietnam still has a lot of growth potential over the long term.

Vietnam News Today (Oct. 28):
E-commerce services are growing in Vietnam. Illustration image

The report also shows local digital financial services (DFS), including payments, remittances, lending, investment, and insurance, continue to flourish in Vietnam. Notably, lending has the fastest compound annual growth rate (CAGR) at 114%, while investment is expected to record the biggest leap in 2025 at a 106% CAGR.

Furthermore, Vietnam leads the region in the long-term growth market of venture capital funds (VCs) with 83% of VCs expecting long-term growth to occur in the country, according to VOV.

Stephanie Davis, vice president for Southeast Asia Google, noted that despite regional and global challenges, the Vietnamese digital economy has enjoyed the fastest growth in the region, with its GMV likely to hit US$50 billion by 2025.

A high-quality domestic workforce in the technology sector and the growing penetration of digital services in urban and rural areas has laid a strong foundation for the country’s digital growth in the future, she said.

According to the report, top digital economies in Southeast Asia, including Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, all grew faster than expected this year, with these set to reach US$200 billion in total value transactions this year.

Vietnam promotes basic principles of international law

Vietnam highlighted basic principles of international law and the obligation of protecting the environment in relation to armed conflicts at a working session of the 77th United Nations General Assembly’s Sixth Committee (Legal) in New York on October 26.

Assistant to the Minister of Foreign Affairs Nguyen Minh Vu said the seven basic principles of the UN Charter and the 1970 Declaration on Principles of International Law concerning Friendly Relations and Cooperation among States in accordance with the UN Charter should be included in the list of mandatory norms.

Vietnam News Today (Oct. 28):
At the working session of the committee. Photo: VNA

Such norms must be accepted and recognized by the majority of countries representing regions, cultures, and legal systems with different development levels, he continued.

Regarding environmental protection in relation to armed conflicts, Vu said Vietnam that had gone through wars backs the committee’s rules on environmental protection before, during and after armed conflicts, reported VNA.

The countries, businesses and organizations that have harmed the environment during armed conflicts should take responsibility for restoring the environment through post-conflict environmental assessment, removing toxic remnants of wars, clearing bombs and mines, and supporting and compensating victims, he emphasized.

The Sixth Committee is the primary forum for the consideration of legal questions in the General Assembly. All of the UN Member States are entitled to representation on the Sixth Committee as one of the main committees of the General Assembly.

Vietnam to master technology for producing 15 types of vaccines by 2030

Deputy Prime Minister Vu Duc Dam has approved a programme to ensure a sufficient supply of vaccines for domestic use until 2030.

The main objective of the scheme is to meet demand for vaccines against infectious diseases which are required to be deployed in the Expanded Immunization Program for the 2021 - 2030 period, with vaccines to be used to service immunisation and pandemic prevention and control.

Vietnam News Today (Oct. 28):
Photo: VOV

Vietnam aims to master technology to produce 10 types of vaccines by 2025 and 15 types by 2030 against diseases such as diphtheria, Pertussis, Tetanus, Haemophilus Influenzae (Hib), and either Polio or Hepatitis B, with all the vaccines required to meet international standards.

Top priority will be given to outlining specific mechanisms for vaccine research and production, especially for vaccines which combat emerging, dangerous, and highly infectious diseases, as well as new vaccines, cited VOV.

The program also proposes strengthening investment in developing science and technology research centres for vaccines, while simultaneously accelerating the use of advanced technology to produce vaccines against cancer.

Moreover, it will also focus on the development of human resources for research and production of vaccines, thereby attracting investment and co-operation from international organizations in training human resources.

Vietnam and China cooperate in high-tech agriculture training

A virtual training course on high-tech agriculture for Vietnamese agriculture management officials opened on October 25 in Kunming, the capital city of China’s Yunnan Province.

This is a cooperation project between the Vietnamese Consulate General in Kunming and Yunnan’s foreign affairs office and agriculture department.

Vietnam News Today (Oct. 28):
Vietnamese Consul General Nguyen Trung Hieu speaks at the event. Photo: NDO

The training course saw the attendance of 144 Vietnamese agriculture officials from the provinces of Lao Cai, Ha Giang, Lai Chau, Dien Bien, Yen Bai and Son La along with 54 Chinese agriculture officials from Yunnan.

Speaking at the opening ceremony, Vietnamese Consul General Nguyen Trung Hieu stated that the training course will help to enhance the quality and yield of crops in Vietnamese and Chinese localities.

For his part, Deputy Director of the Lao Cai Department of Agriculture and Rural Development Le Tan Phong said the training course will help agriculture officials in six Vietnamese provinces to acquire knowledge on building value chains and deep processing of fruits and vegetables.

A representative of Yunnan’s agriculture department stated that the training course is a significant step in realising the agricultural cooperation mechanism between Yunnan and Vietnamese provinces, reported NDO.

The four-day course is expected to help make the agricultural economy more sustainable in border areas of the two countries, bringing benefits to the people on both sides of the border.

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