Category: Politics

Hanoi: Vietnamese Prime Minister Pham Minh Chinh’s upcoming visit to Romania is expected to mark a milestone in the bilateral cooperative relations, helping to enhance understanding of each other’s priorities and interests, Romanian Ambassador to Vietnam Cristina Romila has said.

Talking to the press, the ambassador held that the visit will continue to promote bilateral dialogue at the Prime Minister level, underlining that it will be a highlight of close ties between the two countries’ people, which has been the foundation for the bilateral relationship over the past 74 years.

The visit will prompt new progress in the implementation of joint projects and the building of bilateral legal cooperation frameworks, she said.

The diplomat underscored that that the fruitful cooperation between the two countries over the past five years has affirmed the deep friendship between Vietnam and Romania. The two sides joined hands in setting major challenges such as the COVID-19 pandemic, and made joint efforts to evacua
te more than 1,000 Vietnamese citizens from conflict areas in Ukraine.

Romila noted that along with meetings between Romanian President Klaus Werner Iohannis and Vietnamese PM Pham Minh Chinh on the sidelines of international events, the bilateral political-diplomatic relations have seen new progress.

Particularly, when Romania held the Presidency of the European Council, the EU-Vietnam Free Trade Agreement (EVFTA) and EU-Vietnam Investment Protection Agreement (EVIPA) were signed, she said, adding that Romania was one of the first EU members to ratify the IVIPA.

At the same time, people-to-people diplomacy between the two countries has been promoted after the COVID-19 pandemic, along with cultural, academic and business exchanges. Representatives from 30 Romanian universities have visited Vietnam over the past two years. The Romanian Bucharest Symphony Orchestra performed in Hanoi and Da Lat in 2022 and 2023. A number of Romanian business delegations also visited Vietnam to seek partnership opportunities,
helping to diversify bilateral economic cooperation, the diplomat noted.

Regarding major collaboration areas and priorities for the bilateral partnership in the coming time, the ambassador underlined that the 17th meeting of the Vietnam-Romania Joint Committee for Economic Cooperation last November achieved fruitful results. The two sides agreed on important cooperation mechanisms in areas of mutual interest such as trade, agriculture, sanitation, energy, labour, science, technology and culture, she said.

Romania can become a gateway for Vietnamese goods to penetrate into Europe, while Vietnam can support Romania to enter the ASEAN market, the ambassador said.

She stressed the need for the two sides to optimise the efficiency of the EVFTA to further open the doors for each other and draw more investment in areas of shared interest./.

Source: Vietnam News Agency

Hanoi: The 54th Annual Meeting of the World Economic Forum (WEF-54) will offer a wonderful opportunity for Vietnam to demonstrate its international commitments and call for support from investors to its efforts, Ambassador of Switzerland to Vietnam Thomas Gass has said.

The diplomat made the remark in an interview granted to the Vietnam News Agency ahead of Prime Minister Pham Minh Chinh’s upcoming trip to Davos to attend the meeting and make his official visits to Hungary and Romania from January 16-23.

Emphasising the importance of the forum amidst global upheavals, Gass said it serves as a platform for leaders from countries and sectors to seek solutions and affirm their responsibility for the implementation of common visions, including the Sustainable Development Goals (SDGs) and the Paris Agreement on Climate Change.

It also encourages pioneers to put in place positive initiatives, he said, stressing the need for recommitments to multilateralism and the international rule of law, the establishment and
upgrade of new platforms for dialogues, and the building of stronger partnerships.

The ambassador also highlighted the importance of PM Chinh’s participation at the WEF-54, and cited the leader at another WEF event in China last June as saying international solidarity, multilateralism and people-centred would help the world weather ‘headwinds’.

The PM can deliver remarks completely with self-confidence at the upcoming meeting as Vietnam has made remarkable contributions to addressing global issues, and the country deserves international acknowledgement.

As an active member of the Association of Southeast Asian Nations (ASEAN), Vietnam plays a crucial role in promoting regional stability and cooperation, he said, noting its engagement in UN peacekeeping operations, including those in South Sudan and Central African Republic.

Vietnam has taken important steps to cut carbon footprint, towards achieving its commitment to net zero emissions by 2050, and the country is making efforts to raise its climate resili
ence through the implementation of a national action plan and measures to protect the vulnerable in this regard, Gass continued.

The country is also working hard to improve its energy security by investing in renewable energy sources like solar and wind energy.

Regarding the memorandum of understanding between Vietnam and the WEF for 2023-2026, the diplomat said the document will enable the Southeast Asian nation to access international resources and expertise, and join WEF programmes globally.

He also lauded efforts by Vietnamese competent agencies in reforming administrative procedures, improving education quality, developing human resources, and promoting digital economy, as reflected through the increasing FDI influx in the country.

However, the diplomat stressed, Vietnam still needs to exert greater efforts to maintain its competitive edges.

For the relations between Vietnam and Switzerland, Gass said Switzerland was one of the first Western countries to officially recognise the Democratic Republic
of Vietnam (now the Socialist Republic of Vietnam) in 1971, and the bilateral relationship has been developing dynamically, with its focus shifting from economic development cooperation to trade.

Switzerland welcomes positive progress in negotiations on the free trade agreement between the European Free Trade Association (EFTA) and Vietnam, he said, adding that once coming into effect, the deal will create a favourable framework and pave the way for Swiss investments in Vietnam, thus fostering the bilateral trade, he continued.

The ambassador commended Vietnam’s foreign policy and dynamic economic environment, which has prompted many countries to seek the upgrade of their partnerships with Vietnam.

The diplomat also expressed his hope for the elevation of the Vietnam-Switzerland relations in the time ahead, saying he is making efforts to push ahead with the progress.

According to Gass, Switzerland’s main exports to Vietnam include pharmaceuticals, chemicals, machinery and precision mechanics, while its im
ports from the Southeast Asian country are electronics, footwear, textiles-garments, and seafood.

Since 2008, economic development cooperation between the two countries has focused on improving public finance, enhancing the capacity of the financial sector, raising the competitiveness of small- and medium-sizes enterprises, urban planning, climate adaptation, and sustainable growth.

Besides, the two sides have maintained cooperation in science-technology and delegation exchange, he said, recalling the latest visit to Vietnam by President of the National Council of Switzerland Martin Candinas last June.

The ambassador also called the forum an opportunity for the two countries to hold their high-level meetings./.

Source: Vietnam News Agency

Seoul: The Vietnamese Embassy in the Republic of Korea (RoK) held a ‘Xuan Que Huong’ (Homeland Spring) programme in Seoul on January 14 to bring the warm Tet atmosphere to the Vietnamese community in the East Asian nation.

The event, the biggest of its kind after COVID-19 pandemic, attracted the participation of about 500 Vietnamese people in the host country.

Speaking at the event, Charge d’affaires a.i of the embassy Nguyen Viet Anh said that with the spirit of mutual support and solidarity, the Vietnamese community have always helped each other to overcome difficulties and reaped many successes in work and life.

He emphasised that Vietnamese people in the RoK have stayed united and helped each other to overcome difficulties caused by the COVID-19 pandemic, manifesting the fine Vietnamese traditions and creating good impression on the host society.

President of the Vietnamese Association in the RoK Le Nguyen Minh Phuong shared that this year’s event saw the coordination of six Vietnamese associations sp
onsored by the Vietnamese embassy, including the Vietnamese association, the Vietnamese students’ association and the Vietnamese women’s association.

Ly Huan, head of the Ly Hoa Son (Lee Hwasan) clan who are descendants of Ly Long Tuong, a prince of the Ly dynasty ruling Vietnam between the 11th and 13th century, said the ‘Homeland Spring’ programme is a highly anticipated event of Vietnamese expatriates, international students and workers who cannot return to their hometowns to celebrate Tet.

He also pledged to perform his role in people’s diplomacy, actively contributing to the development of economic and cultural cooperation between the two countries.

Art performances featuring love for the homeland, games and lucky draws brought a joyful atmosphere for the participants.

According to statistics, the RoK is the second homeland of more than 200,000 Vietnamese people and currently there are about 180,000 Koreans living and working in Vietnam. This close connection is due to the comprehensive connections f
rom the past and traditional values, historical and cultural similarities and the emotional attachment between the two nations./.

Source: Vietnam News Agency

Hanoi: President Vo Van Thuong on January 14 sent his greetings to his Maltese counterpart George Vella on the occasion of the 50th founding anniversary of Vietnam-Malta diplomatic relationship (January 14, 1974 – January 14, 2024).

The same day, Prime Minister Pham Minh Chinh also extended his congratulations to Malteses Prime Minister Robert Abela, and National Assembly Chairman Vuong Dinh Hue offered greetings to Speaker of the House of Representatives of Malta Angelo Farrugia.

Minister of Foreign Affairs Bui Thanh Son sent a message of congratulations to his Maltese counterpart Ian Borg./.

Source: Vietnam News Agency

Hanoi: The 15th National Assembly (NA) started its fifth extraordinary meeting at the NA building in Hanoi on January 15, in the presence of Party General Secretary Nguyen Phu Trong, State President Vo Van Thuong, Prime Minister Pham Minh Chinh, NA Chairman Vuong Dinh Hue, and many Party, State, NA officials and former leaders.

The opening session was broadcast live on the Vietnam Television, Radio The Voice of Vietnam, and the legislature’s television channel.

At this extraordinary meeting, NA deputies will look into and adopt the draft revised land law and draft revised law on credit institutions.

The revised land law has 16 chapters and 260 articles, with the removal of five articles, and amendment to 250 articles in the law presented at the sixth session. Meanwhile, the revised law on credit institutions has 15 chapters and 210 articles, with the removal of four articles, supplement of 11 articles and amendment made to several others in the one presented at the previous session. The deputies will consi
der a draft resolution on several mechanisms and special policies to remove bottlenecks so as to accelerate the implementation of national target programmes. Besides, they will scrutinise the capital supplement of the mid-term public investment plan with central budget capital for the 2021-2025 period from the general reserve source, and the capital supplement of the mid-term public investment plan for the Vietnam Electricity from the reserve source of the mid-term public investment plan.

The extraordinary meeting will conclude on January 18, with a break on January 17 for competent agencies to revise and complete the draft laws and resolution./.

Source: Vietnam News Agency

Kuala Lumpur: The Malaysian national news agency Bernama on January 15 published an interview with Vietnamese Ambassador to Malaysia Dinh Ngoc Linh, under the headline “Vietnam, Malaysia to forge stronger defence, security ties after golden anniversary’.

The article wrote that Vietnam and Malaysia are intensifying their collaboration in defence and security in fostering regional peace and stability – a commitment which emphasises the significance of the 50th anniversary celebrations observed in 2023.

Ambassador Linh underscored the importance of close cooperation between the two nations in today’s complex geopolitical dynamics.

He expressed confidence in the potential of further strengthening ties, especially after a recent diplomatic engagement in which both countries renewed the Memorandum of Understanding on Defence Cooperation that expired in 2018.

The diplomat noted that both countries are poised to strengthen their defence and security cooperation within the ASEAN framework. The commitment extends t
o promoting ASEAN-led mechanisms that play a central role in facilitating dialogues and cooperation among ASEAN member states and external partners.

In political area, Linh said both countries are committed to the effective implementation of the Plan of Action (POA) designed to execute the Strategic Partnership for the 2021-2025 period.

In the first half of 2024, one of the embassy’s priorities is to promote and organise high-level visits of Party and State leaders to Malaysia, he said, adding that the exchange of high-level delegations will be a driving force for strengthening strategic trust and deepening comprehensive cooperation between the two countries, toward the 10th anniversary of the Strategic Partnership in 2025.

In economic sphere, he said both nations are eyeing the halal industry as a promising avenue for cooperation. Vietnam is Malaysia’s 12th largest trade partner globally and the fourth biggest in ASEAN, after Singapore, Indonesia and Thailand. In 2022, total bilateral trade increased by 1
6.4% to 19.44 billion USD from 16.7 billion USD in 2021.

In terms of investment, Malaysia is Vietnam’s 10th largest investor after Singapore and Thailand.

Regarding maritime security, he said both nations must enhance collaboration to uphold peace, security, safety and navigation freedom in the East Sea.

‘It is crucial to fully comply with the Declaration on the Conduct of Parties and promptly finalise negotiations for the Code of Conduct in the East Sea (COC), aligning with international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS)’, he said.

About people-to-people exchange, the ambassador said their ties are poised to flourish further through continued cooperation in news exchange.

He hoped that established connections between the news agencies – Bernama and Vietnam News Agency – could be enhanced correlatively./.

Source: Vietnam News Agency

Hanoi: Outstanding credit of the banking system is forecast to increase 4.4% in the first quarter and 14.2% in 2024, up 0.4 percentage point from the previous prediction of 13.8%.

Capital mobilisation is expected to rise 2.6% in Q1 and 12.1% in the whole year, unchanged from the previously predicted figures, according to a survey of credit institutions’ business trend for Q1 conducted by the Forecasting and Statistics Department of the State Bank of Vietnam.

Meanwhile, the institutions believed the rate of non-performing loans among outstanding credit, which inched up in Q4 2023, will fall slightly in Q1 this year.

They forecast demand for banking services in Q1 will improve at a slower pace than in Q4 last year but bounce back more strongly during 2024. Notably, demand for loans will get much better than that for deposits or payments, different from what was seen in 2023.

The banking system’s liquidity was better than expectation in Q4 and abundant during last year compared to 2022. It is expected to sta
y in that state during Q1 this year and the entire 2024, they noted.

Deposit and lending interest rates are forecast to continue declining slightly, by an average of 0.3 – 0.4 percentage point in Q1 and 0.2 percentage point in 2024.

The latest survey also showed that the banking system’s business performance and pre-tax profits in last Q4 improved slightly from the previous quarter but were still lower than expected in the previous survey.

The institutions reported that their business performance fell short of expectation, and lowered pre-tax profit estimations from the previous survey. About 78.6% of them estimated last year’s pre-tax profits would grow compared to 2022, 17.9% forecast contraction, and 3.6% unchanged.

They expressed their hope that the situation will improve starting from Q1 and this year, but pre-tax profits may recover at a slower pace./.

Source: Vietnam News Agency