Vietnam News Today (Sep. 29): Vietnam, Cuba to Enhance Trade, Investment Ties

Vietnam News Today (Sep. 29): Vietnam, Cuba to enhance trade, investment ties; Customs clearance at Quang Ninh border gate again suspended; Vietnam Airlines restores operations at airports after typhoon Noru; Vietnam invests nearly US$400 million abroad over nine-month period.
September 29, 2022 | 06:12

Vietnam News Today (Sep. 29) notable headlines

Vietnam, Cuba to enhance trade, investment ties

Customs clearance at Quang Ninh border gate again suspended

Vietnam Airlines restores operations at airports after typhoon Noru

Vietnam invests nearly US$400 million abroad over nine-month period

Vietnamese football rankings promoted

Vietnam attaches importance to enhancing strategic partnership with Germany

US firm pours capital in cross-border e-commerce project in Binh Duong

Three Vietnamese dishes among best street foods in Asia: CNN

Higher-quality FDI flows expected to pour into Vietnam

Minister of Construction Nguyen Thanh Nghi holds a working session with Cuban Minister of Foreign Trade and Foreign Investment Rodrigo Malmierca Diaz in Hanoi on September 27. Photo: hanoimoi.com.vn
Minister of Construction Nguyen Thanh Nghi holds a working session with Cuban Minister of Foreign Trade and Foreign Investment Rodrigo Malmierca Diaz in Hanoi on September 27. Photo: hanoimoi.com.vn

Vietnam, Cuba to enhance trade, investment ties

Minister of Construction Nguyen Thanh Nghi held a working session with Cuban Minister of Foreign Trade and Foreign Investment Rodrigo Malmierca Diaz in Hanoi on September 27.

Minister Nghi noted that the implementation of the two countries’ trade agreement has not produced desired outcomes due to the Covid-19 pandemic.

He stressed that Vietnam has been making efforts to ensure rice supply for Cuba in accordance with reached agreement, to help Cuba ensure food security and social stability.

Regarding Vietnam’s investment in Cuba, the minister noted that two Vietnamese firms – Viglacera and Thai Binh – have invested in five projects in Cuba, two of which have been put into operation with good results.

Vietnam has also maintained cooperation with Cuba in agriculture and fisheries to help Cuba step by step become self-sufficient in food. At present, the two sides are focusing efforts to carry out the 2019-2023 joint rice farming project in Cuba. The Vietnamese government has also approved the idea on two new projects proposed by Cuba in developing aquaculture and maize cultivation in Cuba, cited VOV.

Noting Cuba’s strength in health care and bio-technology, Minister Nghi said Vietnam has a need for cooperation in those fields. He suggested that the two countries can cooperate not only in the import-export of vaccines and drugs but also in the research to develop and produce vaccine, biological products and medicine either in Vietnam or Cuba for both domestic consumption and export.

Cooperation in other fields, such as construction, transport, communications, banking, finance, sports, culture, broadcasting and science-technology, is also implemented in line with bilateral commitment, Nghi said, adding that the two sides have completed the draft plan of action to implement the bilateral mid-term economic agenda. He hoped that the draft can be approved for signing during the upcoming visit to Vietnam by the Cuban Prime Minister.

The Cuban Minister shared the assessment of Minister Nghi on bilateral cooperation in the recent past. He appreciated Vietnam’s efforts to ensure rice export to Cuba, saying that it is of great importance for Cuba.

He expressed a hope that the two countries will intensify cooperation particularly in health care, pharmaceuticals, vaccine and bio-technology.

He asked the Vietnamese Construction Ministry to encourage Vietnamese firms to attend the international trade fair in Cuba in November this year.

Customs clearance at Quang Ninh border gate again suspended

Customs clearance was again suspended on September 28 at the Bac Phong Sinh border gate in Quang Ninh’s Hai Ha district that pairs with Li He border gate in China’s Dongxingcity, due to China’s Covid-19 control measures.

Import-export activities at the pairs of border gates just resumed two days ago, on September 26, after seven months of suspension. During the two days September 26 and 27, only two trucks carrying imports from China went through the border gate, according to VNA.

Bac Phong Sinh border gate. Photo: VNA
Bac Phong Sinh border gate. Photo: VNA

Besides, the week-long National Day holiday in China is starting soon. The Chinese side has announced that it will re-open the border gate on October 8.

Vietnam Airlines restores operations at airports after typhoon Noru

As typhoon Noru has abated into a tropical depression, Vietnam Airlines has resumed flights to/from some airports in the central region.

The national flag carrier said it has resumed operations at the airports of Vinh (Nghe An province), Phu Bai (Thua Thien-Hue province), Da Nang (Da Nang city), Phu Cat (Binh Dinh province), Buon Ma Thuot (Dak Lak province), Lien Khuong (Lam Dong province), and Tuy Hoa (Phu Yen province).

It will also increase flights and put wide-body aircraft, including Airbus A350 and Boeing 787, into use to swiftly serve passengers affected by flight rescheduling, reported WVR.

As typhoon Noru has abated into a tropical depression, Vietnam Airlines has resumed flights to/from some airports in the central region. Photo: VNA
As typhoon Noru has abated into a tropical depression, Vietnam Airlines has resumed flights to/from some airports in the central region. Photo: VNA

According to preliminary data on September 27 afternoon, up to 150 flights of Vietnam Airlines were cancelled or operated earlier or later than scheduled, including 148 domestic flights and two international ones with nearly 14,000 passengers in total.

The firm said passengers of the Noru-affected flights will receive assistance in line with regulations, adding that it will update any changes caused by bad weather on its social network fanpage and website, or via text messages and emails sent to passengers.

The Civil Aviation Authority of Vietnam has decided to reopen nine of the 10 airports previously closed in response to typhoon Noru. Only Dong Hoi Airport of Quang Binh province is being monitored to consider the reopening time.

Vietnam invests nearly US$400 million abroad over nine-month period

Vietnam’s new and adjusted investment capital overseas during the past nine months of the year reached nearly US$398.3 million, according to details given by the Ministry of Planning and Investment.

These figures are equivalent to 69.6% against the same period from last year. In line with this, some US$347.3 million was poured into 80 new projects, accounting for more than 87% of total Vietnamese investment capital throughout the reviewed period and representing a 2.31 fold-increase against the same period last year.

The MPI attributed this sharp rise in capital outflow to five newly-licensed projects by VinES Energy Solutions Joint Stock Company to the United States, Canada, France, Germany, and the Netherlands, with total investment capital exceeding US$34.68 million per project.

The processing and manufacturing industry takes the lead in Vietnam's overseas investment. Photo: baodautu.vn
The processing and manufacturing industry takes the lead in Vietnam's overseas investment. Photo: baodautu.vn

Meanwhile, over US$50.9 million was added to 15 existing projects, equivalent to 12% compared to the same period from last year.

The majority of capital outflow was poured into 13 industries, of which the processing and manufacturing industry took the lead with 11 new projects capitalized at over US$291.6 million, accounting for 55.2% of total investment capital from the nation to countries abroad.

Banking, finance, and insurance activities ranked second with more than US$35.3 million, followed by wholesale and retail, agriculture, forestry, fisheries industries, cited VOV.

Vietnamese investments were largely channeled into 24 countries and territories during the reviewed period, with Laos being the largest recipient of Vietnamese investment with US$66.42 million, making up 16.7% of total investment capital.

Singapore ranked second with a nearly US$41.5 million, holding nearly 10.4% of the total investment capital, followed by the US, Germany, and the Netherlands,

As of September 20, Vietnam is involved in 1,584 valid overseas investment projects totaling more than US$21.6 billion.

Vietnamese football rankings promoted

The recent victories against Singapore and India have promoted Vietnam to the 96th position in the FIFA rankings, the 17th position in Asia and the first in Southeast Asia, according to website football-ranking.com.

Before the international games in September, Vietnam was ranked 97th by the FIFA with 1,218.84 points. The 4-0 victory against Singapore and 3-0 against India helped Vietnam secure 3.05 points and 4.76 points, respectively.

With the additional points, Vietnam surpassed Belarus to rise to the 96th position.

Vietnam has risen to the 96th position in the FIFA rankings. Photo: VNA
Vietnam has risen to the 96th position in the FIFA rankings. Photo: VNA

As of September 28, Vietnam has been on the world Top 100 for 1,400 days.

The team’s ranking is likely to change considerably this year when World Cup and the ASEAN Football Federation (AFF) take place.

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