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Photo: VOV

Vietnam attracts over US$20.5 billion in FDI over eight months of 2024

Vietnam attracted more than US$20.5 billion in foreign direct investment (FDI) during the opening eight months of the year, representing an increase of 7% against the same period last year, according to the Foreign Investment Agency (FIA).

Foreign investors registered nearly US$12 billion in 2,247 new projects, up 8.5% in project numbers and a rise of 27% in capital. They also injected an additional of more than US$5.7 billion into 926 projects, up 14.8% and 4.9% year on year respectively. Meanwhile, capital contributions fell by 40.9% to US$2.81 billion.

Foreign financiers injected their capital into 18 out of 21 economic sectors, with processing and manufacturing attracting the largest investment of nearly US$14.17 billion, up 7.4%, followed by real estate (more than US$3.36 billion); wholesale and retail (more than US$844.9 million); and science - technology (over US$761.9 million), cited VOV.

Insiders pointed out that FDI capital flows into localities with many advantages such as improved infrastructure, stable human resources, simplified administrative procedures, and investment incentives.

These localities include Bac Ninh, Quang Ninh, Ho Chi Minh City, Ba Ria - Vung Tau, Hanoi, Hai Phong, Binh Duong, Dong Nai, Bac Giang, and Thai Nguyen.

Singapore, Hong Kong (China), Japan, China, and the Republic of Korea all topped the list of countries investing in the Vietnamese market, accounting for 74% of new investment projects and 77.1% of the nation’s total registered capital.

Vietnam, Australia celebrate strong ties on National Day

In his remarks, Ambassador Pham Hung Tam highlighted Vietnam's remarkable achievements, saying the country has emerged as one of the world's top 10 fastest-growing economies, with total trade exceeding 680 billion USD last year, and attracting an average of 55 billion USD in foreign investment over the past years.

Vietnam has established strategic partnership or higher-level relations with 30 countries, including all the five permanent members of the United Nations Security Council, Tam said.

Tam also stressed the elevation of the Vietnam-Australia relationship to a Comprehensive Strategic Partnership in March. With over 30,000 Vietnamese students in Australia and nearly 300,000 Australian tourists visiting the Southeast Asian nation in the first seven months of this year, the people-to-people interaction is thriving, he said.

Bilateral trade is robust, expected to reach 20 billion USD this year, with both countries ranking among each other's top 10 trading partners, according to VNA.

Vietnamese Ambassador to Australia Pham Hung Tam speaks at the event (Photo: VNA)

Cooperation extends to global and regional forums, encompassing national defense-security, sci-tech, and people-to-people exchange, among other fields, the diplomat said.

Michelle Chan, Deputy Secretary of the Australian Department of Foreign Affairs and Trade, noted that the bilateral relationship is one of Australia's most important, diverse and dynamic relations, reflecting the depth of the strategic trust and shared ambition for the future.

Looking ahead, Chan expressed hope for continued close cooperation on issues crucial to both countries and the region, including collaboration with ASEAN, support for regional stability, and the consolidation of rules and norms that underpin common security and prosperity.

Ambassador Tam, along with officials, raised their glasses to toast Vietnam's National Day and the friendship between the two countries. They also enjoyed dishes rich in Vietnamese flavor.

Vietnam considers airport closures due to super typhoon Yagi impact

The Ministry of Transport (MoT) has asked the Civil Aviation Authority of Vietnam (CAAV) to closely monitor the developments of super typhoon Yagi, which is moving towards the mainland, and close several airports if necessary.

In an urgent telegram to the CAAV, the MoT requested the CAAV to keep a close watch on Yagi’s developments to adjust flight schedules accordingly to ensure absolute safety for flight operations, reported VOV.

“Based on the developments of the typhoon, the CAAV will consider halting operations at certain airports in the areas directly affected by Typhoon No. 3,” the MoT said in a telegram to the CAAV.

Bad weather impacts flight operations at Noi Bai International Airport (Illustration)

According to the CAAV, the airports expected to be directly affected by Yagi are Van Don (in Quang Ninh province), Cat Bi (in Hai Phong city), Noi Bai (in Hanoi capital), and Tho Xuan (in Thanh Hoa province).

Vinh airport in Nghe An province and Dien Bien airport in Dien Bien province will also be impacted by Yagi but to a lesser extent. They are advised to stay ready to respond to any unusual developments of the super typhoon.

Yagi strengthened into a super typhoon level on September 5 afternoon, with winds gusting 201kph near its center, according to the National Centre for Hydro-meteorological Forecasting.

The super typhoon is forecast to move into the Gulf of Tonkin on September 6 morning and slam into the mainland in the north-eastern and north-central regions in the early morning of September 7.

Due to its force, Yagi will certainly cause strong winds, storm surges, and high waves at sea and along the coast, as well as strong winds and widespread heavy rain on land.

Vietnam, ASEAN member states foster military cooperation

Chief of the General Staff of the Vietnam People's Army (VPA) and Deputy Minister of National Defense Sen. Lieut. Gen Nguyen Tan Cuong held bilateral meetings with some delegation heads on the sidelines of the 21st ASEAN Chiefs of Defense Forces’ Meeting (ACDFM-21) in Vientiane on September 5.

Meeting Chief of Staff of the Armed Forces of the Philippines Gen. Romeo S. Brawner Jr, Cuong underlined the similarities in interest between the two countries, and the development of the bilateral strategic partnership in politics, economy, national defense- security, education-training, culture and people-to-people exchange.

Cuong highlighted the state visit to Vietnam by Philippine President Ferdinand Romualdez Marcos Jr. in January, and its significance in consolidating political trust and comprehensive cooperation as both countries will celebrate the 10th anniversary of their strategic partnership in 2025 and the 50th anniversary of their diplomatic ties in 2026.

For the bilateral defense ties, he proposed maintaining meetings and contacts at all levels, increasing exchanges and experience sharing, particularly among young officers, and maintaining coordination in response to non-traditional security challenges, as well as mutual support at multilateral forums and mechanisms in the time ahead.

In his meeting with Gen. Songwit Noonpackdee, Chief of Defense Forces of the Royal Thai Armed Forces, Cuong stressed the importance of several key activities, such as the Vietnam-Thailand defense policy dialogue at the deputy ministerial level and delegation exchanges.

He encouraged further cooperation in areas like defense industry, logistics, military medicine, search and rescue, and the sharing of experience in border management, pandemic prevention, and drug trafficking control, cited NDO.

Chief of the General Staff of the Vietnam People's Army (VPA) and Deputy Minister of National Defense Sen. Lieut. Gen Nguyen Tan Cuong meets with Gen. Songwit Noonpackdee, Chief of Defense Forces of the Royal Thai Armed Forces (Photo: VNA)

Discussing ties with Vice Admiral Aaron Beng, Chief of Defense Force of Singapore, Cuong lauded the effective cooperation between the two armies, which has contributed to celebrating the 10th anniversary of the strategic partnership between the two countries and the 50th anniversary of their diplomatic ties last year.

He suggested fostering delegation exchanges, and maintaining annual dialogue mechanisms and training cooperation. At the bilateral meetings, Cuong extended invitations to military leaders of the countries to attend the celebration of VPA’s 80th founding anniversary, and send delegations to the ASEAN Military Music Exchange and the second Vietnam International Defense Expo in Hanoi in December 2024, aiming to foster understanding and cooperation.

Thua Thien-Hue promotes cooperation with Laos' Savannakhet province

The Savannakhet governor appreciated the results of friendship and cooperation between the two localities as well as the support that Thua Thien-Hue has given to Savannakhet in the past time.

The two sides discussed socio-economic development, Party building, and government building in the two provinces as well as assessed the mid-term implementation results of their cooperation agreement for the 2022 - 26 period.

Lưu said that the relationship between Thua Thien-Hue and Lao localities, including Savannakhet, continued to be strengthened, generating practical results.

He suggested that in the coming time, the two sides will continue to implement their cooperation agreement for the 2022 – 26 period, strengthen political and diplomatic cooperation, and improve the effectiveness of collaboration in all fields, especially tourism, trade, and investment.

He said he hoped that the two sides would effectively exploit the East-West economic corridor between Thailand, Laos and Vietnam, and consider support policies to use services at Chan May Port to diversify export goods. They should also create favorable conditions for Vietnamese workers to do business and live in Savannakhet.

For his part, the Savannakhet governor appreciated the results of friendship and cooperation between the two localities as well as the support that Thua Thien-Hue has given to Savannakhet in the past time, cited VNS.

An overview of the meeting. Photo: VNA

He said he hopes that in the coming time, the two localities will continue to promote cooperation in various fields, particularly agricultural and rural production. He called on Vietnamese agricultural enterprises to invest in Savannakhet and strengthen links to develop tourism.

Savannakhet always provides favorable conditions for Vietnamese workers, including those from Thua Thien-Hue Province, to work in the locality, he affirmed.

Under the cooperation agreement for the 2022 – 26 period signed in December 2022, the leaders of the two provinces have strengthened leadership and direction, and assigned relevant agencies to boost cooperation in a variety of fields.

The two sides have directed security and order on the Vietnam-Laos border, making an important contribution to building a borderline of peace, stability, friendship, cooperation, and development.

Their cooperation in the fields of education and human resources training, culture, and health care has witnessed progress, contributing to the socioeconomic development in both localities. Since 2002, Thua Thien-Hue has provided Vietnamese language training and university/college courses for nearly 1,500 Lao students, including 248 from Savannakhet province.

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