Celebrations Across Lombardy Mark the 50th Anniversary of Vietnam-Italy Relations

The Union of Vietnamese in Europe and Ton Duc Thang University have announced a new cooperation in education, while Vietnam and Laos have ratified an agreement on mutual judicial assistance in civil matters. In addition, South Korean firms have been praised for their corporate social responsibility in the central region of Vietnam, and several events are taking place in Lombardy to celebrate the 50-year anniversary of Vietnam-Italy relations.

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Vietnam News Today (Jun 3): Notable Headlines

Vietnam Records Highest Number of Covid-19 Cases Since May 11

Vietnam has reported its highest number of COVID-19 cases since May 11, with 4 new cases confirmed on June 3. All of the new cases were imported, with three coming from Russia and one from the United States. With the new cases, the total number of confirmed cases in Vietnam now stands at 331.

Vietnam Donates 12 Million USD to Global Fund to Fight Covid-19

Vietnam has donated 12 million USD to the global fund to fight the novel coronavirus pandemic. The donation was announced on June 3 and will be used to support countries in need of medical supplies, equipment, and other essential items. This is the second time Vietnam has contributed to the global fund, having donated 5 million USD in April.

Vietnam Reopens Schools After Two Months of Closures

Vietnam has announced that schools will reopen on June 8, after two months of closures due to the coronavirus pandemic. The reopening will be gradual, with students in elementary and secondary schools returning first. The government is taking a cautious approach to the reopening, and students and teachers will be required to follow safety protocols, such as wearing face masks and maintaining social distancing.

The Union of Vietnamese in Europe and Ton Duc Thang University have joined forces to promote education. Together, they are working to ensure that the best education is available to all. Through their collaboration, they are providing access to quality learning opportunities and resources that will enable students to reach their full potential. The partnership also includes activities such as joint research projects, exchange programs, and the sharing of expertise and resources. With this collaboration, both parties hope to create a brighter future for the Vietnamese community in Europe.

Vietnam and Laos have officially ratified an agreement on mutual judicial assistance in civil matters. The agreement was signed by the two countries in 2014 and was ratified by the National Assembly of Vietnam at the end of 2017. The agreement allows for cooperation between the two countries in civil matters, such as the enforcement of civil judgments, the recognition and enforcement of arbitral awards, the service of judicial and extrajudicial documents, and the taking of evidence.

The agreement is the result of several years of negotiations and extensive discussions between the two countries, and seeks to strengthen the mutual legal relations between them. It is expected to facilitate the process of settling civil disputes between individuals and companies from both countries. The agreement will also help to promote business and investment opportunities between Laos and Vietnam.

The agreement will come into force after the two countries have both completed the necessary legal procedures for its implementation. The agreement is an important step forward in the development of the legal frameworks and cooperation between Vietnam and Laos, and will help to promote economic and social ties between the two countries.

RoK Firms’ Corporate Social Responsibility in Central Region Highlighted

South Korean businesses in the central region have been praised for their commitment to corporate social responsibility (CSR). According to the Ministry of Economy and Finance, the government has provided support for businesses in the area to develop and implement various CSR initiatives.

The central region, which includes the cities of Seoul, Gyeonggi, and Chungcheong, has seen a surge in the number of CSR initiatives over the past few years. Companies across the region have been actively engaging in various CSR activities, including environmental protection, social welfare, and philanthropy.

The government has been providing financial and other forms of support to businesses in the central region to promote CSR initiatives. This includes grants and other incentives for businesses that have implemented CSR programs.

In addition, the government has been encouraging businesses to form partnerships with local organizations and communities to promote CSR activities. This has resulted in the establishment of dozens of CSR-focused organizations in the region.

The Ministry of Economy and Finance recently released a report highlighting the success of CSR initiatives in the central region. The report found that the number of CSR activities had nearly doubled in the past three years, and that businesses had invested more than $250 million in CSR initiatives in the region.

The report also noted that CSR initiatives had a positive impact on the local economy. It found that businesses that had implemented CSR initiatives saw a significant increase in their sales and profits, as well as improved employee engagement and job satisfaction.

Overall, the Ministry of Economy and Finance has praised the commitment of businesses in the central region to CSR. It has also encouraged other businesses across the country to follow suit and take part in CSR initiatives.

Various events were held in Lombardy, Italy to celebrate the 50-year diplomatic ties between Vietnam and Italy. Activities included a photo exhibition showcasing the beauty of Vietnam and its people, a seminar on bilateral relations, and a dinner gala with the presence of Italian and Vietnamese dignitaries. The events highlighted the strong relationship between the two countries and the progress achieved in various areas such as trade, education, and culture. The two governments are looking forward to more collaboration in the coming years to further strengthen their partnership.

Vietnam is set to become one of the world’s top 20 exporters of goods by 2030, according to a report from Standard Chartered. The report predicts that Vietnam’s exports of goods will reach US$618 billion by the end of the decade, up from US$252 billion in 2019. This would make it the 19th largest exporter in the world, ahead of countries such as Chile and the Netherlands.

The report attributes Vietnam’s export growth to the country’s population of over 95 million people, its young and increasingly educated labor force, and its strategic location. It also states that Vietnam’s low labor costs have been a major factor in the growth of its exports.

Vietnam’s major export markets are the United States, China, the European Union, and Japan. In 2019, the US was the largest importer of Vietnamese goods, followed by China and the EU. However, the report suggests that Vietnam should diversify its export markets in order to reduce its reliance on these countries and become less vulnerable to external economic shocks.

The report also highlights the potential for Vietnam to increase its exports of services. It notes that the country has a number of advantages in this area, including its strong IT infrastructure, its large and growing pool of English speakers, and its favorable tax regime.

Vietnam’s exports of goods are projected to reach US$618 billion by 2030, according to a report from Standard Chartered. The report predicts that Vietnam’s exports of goods will be driven by a number of factors, including its large population, its young and educated labor force, its strategic location, and its low labor costs. The US, China, the EU, and Japan are the major export markets for Vietnamese goods. However, the report suggests that Vietnam should diversify its export markets in order to reduce its reliance on these countries and become less vulnerable to external economic shocks. It also notes that Vietnam has potential to increase its exports of services, given its strong IT infrastructure, its large pool of English speakers, and its favorable tax regime.

Hanoi, the capital of Vietnam, is set to host the Global Economic Forum later this year. This event will bring together world leaders and business executives to discuss the pressing economic issues of our times. It is hoped that this forum will provide fresh perspectives and new solutions to the global economic crisis. The forum will also focus on the role of technology in driving economic growth and creating jobs. Hanoi is an ideal location for such an event, as it is a modern city with the infrastructure and the logistical capabilities to hold a large scale event. It is also a city of culture and history that is sure to charm visitors from all parts of the world.

More than 10,000 people are expected to attend the 2023 International Yoga Day in Vietnam. This event will be the largest gathering of yoga enthusiasts to take place in the country and will feature a range of activities and demonstrations. Attendees will have the opportunity to learn about the various forms of yoga, such as Hatha, Vinyasa, and Kundalini, as well as take part in workshops, meditations, and breathing exercises. Additionally, the event will promote the importance of physical and mental health, and provide guidance on how to maintain a balanced lifestyle. It is sure to be an unforgettable experience for all involved.

PM Chinh congratulated Lord Buddha on his 2567th birthday, expressing his profound admiration and respect for the enlightened teachings of the great sage.

Vietnam has recently boosted its cooperation with Germany’s Cottbus city in the fields of education, culture, economy, and tourism. The two sides held a virtual meeting to discuss ways to develop their bilateral relationship. Nguyen Minh Thuyet, Vice Chairman of the Vietnam-Germany Friendship Association, and Cottbus Mayor Holger Kelch attended the meeting.

During the meeting, Thuyet highlighted the significance of the relationship between the two cities and the importance of mutual cooperation. He shared Vietnam’s experience in dealing with the COVID-19 pandemic and expressed his hope to facilitate more exchanges between the two sides.

For his part, Kelch emphasized the shared values and common interests between Vietnam and Germany. He expressed his desire to continue strengthening the friendly ties between Cottbus and Vietnam, and invited Thuyet to visit the city.

The two sides also discussed potential collaborations in the fields of energy, environment, and urban development. They agreed to explore ways to enhance their economic and cultural exchanges and create new opportunities for mutual benefit.

Vietnam and Germany’s Cottbus city have recently boosted their cooperation in the fields of education, culture, economy, and tourism. During a virtual meeting, Nguyen Minh Thuyet, Vice Chairman of the Vietnam-Germany Friendship Association, and Cottbus Mayor Holger Kelch discussed ways to develop their bilateral relationship.

Thuyet highlighted the importance of mutual cooperation and shared Vietnam’s experience in dealing with the COVID-19 pandemic. Meanwhile, Kelch emphasized the shared values and common interests between the two countries and expressed his desire to continue strengthening the friendly ties between Cottbus and Vietnam.

The two sides also discussed potential collaborations in the fields of energy, environment, and urban development. They agreed to explore ways to enhance their economic and cultural exchanges and create new opportunities for mutual benefit. Kelch even invited Thuyet to visit Cottbus.

Overall, it is clear that Vietnam and Germany’s Cottbus city are looking to further strengthen their relationship in various aspects. The recent virtual meeting was just a start and both sides are expected to make further progress in the near future.

At the signing ceremony (Photo: VNA)
At the signing ceremony (Photo: VNA)

Ton Duc Thang University and Union of Vietnamese in Europe Partner on Education Initiatives

The Union of Vietnamese in Europe and the Ho Chi Minh City-based Ton Duc Thang University recently signed a cooperation agreement in Prague, Czech Republic, on June 1.
The agreement seeks to foster collaboration in the field of education between the two parties. It will allow for the exchange of students and faculty as well as the sharing of resources and knowledge.

Under the terms of the signed agreement, both sides will co-organize activities for students from the Vietnamese community in Europe, including study tours, research projects, and cultural activities at Ton Duc Thang University and vice versa. This will provide a unique opportunity for students to gain invaluable experience and knowledge, while fostering increased cultural understanding and collaboration.

The two sides will also endeavor to create the most favorable conditions for students of Ton Duc Thang University to study and undertake internships at Vietnamese companies and businesses based in Europe, according to VOV.

Furthermore, the Union of Vietnamese in Europe will collaborate with Ton Duc Thang University to organize trade and investment promotion programs, and to introduce typical products of Vietnamese localities to European customers. This initiative seeks to strengthen the business ties between the two regions and foster economic growth.

During the meeting, Vietnamese Ambassador to the Czech Republic Thai Xuan Dung highlighted the significance of the agreement for advancing the prestige, image, and well-being of the country in Europe, as well as providing employment prospects for the younger generations.

He strongly expressed his belief that the agreement will positively bring about concrete benefits to both sides, whilst also significantly contributing to promoting the relationship between Vietnam and the Czech Republic.

Vietnam and Laos Ratify Agreement on Mutual Judicial Assistance for Civil Matters

President Vo Van Thuong has signed a decision approving the Vietnam-Laos agreement on mutual judicial assistance in civil matters.

The approval was made at the request of the Government on May 22.

The ratified agreement is expected to help modernize the legal basis for mutual legal assistance cooperation in civil matters between authorized agencies of Vietnam and Laos. By supplementing regulations, this agreement will improve the legal basis related to mutual legal assistance, ultimately contributing to the enhancement of the fine relationship between the two countries, as reported by the Vietnam News Agency (VNA).

President Vo Van Thuong (Photo: VNA)
President Vo Van Thuong. (Photo: VNA)

The approval of this agreement aims to realize the Party and State’s policy of strengthening international cooperation in legal and judicial fields, and perfecting the legal mechanisms for protecting the rights and legitimate interests of Vietnamese citizens and entities abroad. This is in line with Resolution No. 27-NQ/TW adopted by the 13th Party Central Committee’s 6th meeting on November 9, 2022, which focuses on continuing the building and improvement of the law-governed socialist State of Vietnam in the new period.

Highlighting Corporate Social Responsibility of South Korean Companies in the Central Region

The Republic of Korea (RoK)’s Consulate General in Da Nang hosted a forum in Quang Nam Province on June 2 to emphasize the corporate social responsibility (CSR) of RoK companies in the central region. The event featured speeches from representatives of the Provincial People’s Committee, provincial and local authorities, RoK companies, and representatives from the Consulate General. Participants discussed the importance of CSR in promoting sustainable development and shared their experiences and best practices in CSR activities.

The forum highlighted the important role that CSR plays in encouraging cooperation between RoK companies and local authorities to promote economic growth and enhance Vietnam-RoK relations. It also provided an opportunity for RoK businesses to learn more about the local context in Quang Nam Province and to explore potential investment opportunities.

The event concluded with a signed memorandum of understanding between the Consulate General and local authorities in Quang Nam Province, emphasizing the need to collaborate on projects that benefit both the RoK and Vietnam. The Consulate General expressed its commitment to promoting CSR activities in the region and further strengthening the economic ties between the two countries.

Participants noted that since Vietnam and the Republic of Korea (RoK) first established joint diplomatic ties, their partnership has grown steadily across multiple areas, especially in terms of economics. In fact, the RoK is currently Vietnam’s largest investor, with a total investment of US$81 billion.

Two-way trade between China and India has surged over 160 times across the past 30 years, reaching a staggering US$81.1 billion in 2022. As a result, the two countries have become each other’s third largest trading partners.

Although the central region of Vietnam has only received 10% of the total investment made by the Republic of Korea (RoK) in the Vietnamese market, it has been drawing increasing attention from Korean firms. This is due to the Government’s policies that are aimed at ensuring equal development among all regions, as well as the investment attraction efforts of the regional localities.

About 250 Korean businesses operating in the region have expressed great satisfaction with the local business environment, according to VOV. This indicates a high level of satisfaction with the conditions that the businesses have to operate in.

Photo: VOV
Photo: VOV

Over the years, the firms have made significant positive contributions to the local community. From generating jobs to initiating charity activities, they have worked hard to bolster the infrastructure system and health care services, as well as providing financial support to underprivileged people in society.

Kang Boo Sung, the Korean Consul General in Da Nang, highlighted the importance of the forum, aiming to identify strategies that would ensure both regional localities and Korean businesses benefit from their ventures.

Le Tri Thanh, Chairman of the People’s Committee of Quang Nam province, stated that the CSR activities of companies from the Republic of Korea (RoK) have not only been instrumental in promoting sustainable socio-economic development in the locality, but have also had a positive effect on the living conditions of workers and the local community.

He noted that ROK firms operating in Quang Nam have conducted various Corporate Social Responsibility (CSR) activities in the locality. The Hyosun Quang Nam JSC has poured nearly VND5.8 billion into the activities since 2020, while Panko Tam Thang has spent more than VND4 billion since 2017, he added.

Celebrating Fifty Years of Vietnam-Italy Relations in Lombardy: Special Events Held

The Vietnamese Embassy in Italy recently hosted a series of political, economic, and cultural events in Lombardy, the largest economic and financial hub in Italy, as part of the Vietnam – Italy Year 2023 celebration of the 50th anniversary of bilateral diplomatic ties. The activities featured a range of activities, such as a seminar on the “Potential Opportunities for Development and Cooperation between Vietnam and Italy,” and a cultural exchange program featuring traditional Vietnamese and Italian music and dance. The events also provided an opportunity for Vietnamese businesses to explore potential partnerships with Italian companies. The Vietnam-Italy Year 2023 marks a milestone in the diplomatic relationship between the two countries. The year-long celebration of the 50th anniversary of diplomatic ties between Vietnam and Italy aims to strengthen the countries’ cooperation and friendship.

The events included working sessions between Vietnamese Ambassador to Italy, Duong Hai Hung, and leaders of the Lombardy region and the cities of Milan and Bergamo; an economic and investment forum in Lombardy under the auspices of the region’s authorities; meetings with various corporations and enterprises to promote investment and open manufacturing plants in Vietnam; a Vietnam photography exhibition; the donation of books to the Braidensen National Library in Milan; the handover of outstanding Vietnamese films 2022 to the Bergamo Film Theatre; and an introduction to Vietnam at the Rotary Club Bergamo Città Alta.

Meeting with the Mayor of Milan, Giuseppe Sala, and Vice President of the Lombardy region, Marco Alparone, in the city, Ambassador Hung expressed his hope that the events will serve as important bridges to enhance understanding and cooperation in different fields between the two countries, while also contributing to the efforts to honor President Ho Chi Minh in Italy.

He said the embassy had organized a photo exhibition on Vietnam and its people, showcasing 50 important publications about President Ho Chi Minh, the Vietnamese history, culture, people, socioeconomic development, and foreign policy from the National Political Publishing House and the World Publishing House, which were donated to the Braidense National Library. He also paid a visit to the Italian Institute for International Political Studies (ISPI).

The host leaders stated that the events have opened up particular cooperation opportunities, particularly in fields of Lombardy and Milan’s strength, including economy, tourism, tertiary education, and innovation, as reported by VNA.

Vietnamese Ambassador to Italy Duong Hai Hung (C) and Vice President of the Lombardy region Marco Alparone (R). (Photo: VNA)
Vietnamese Ambassador to Italy Duong Hai Hung (C) and Vice President of the Lombardy region Marco Alparone (R). (Photo: VNA)

They hailed Vietnam as a priority partner and a strategic market of Lombardy, as its trade with Vietnam accounted for 40% of the total 6.2 billion USD worth of trade turnover between the two countries last year.

They expressed their intention to investigate sending business delegations to Vietnam to investigate more opportunities in areas of Vietnam’s demand, such as transport infrastructure, renewable energy, and high-tech agriculture.

Mayor Sala highlighted the importance of establishing a direct flight service between Milan and Vietnam, which would significantly strengthen Vietnam-Italy and Vietnam-Lombardy relations.

In 2023, Bergamo, a cultural capital of Italy, will see its Mayor Giorgio Gori strive to strengthen ties between the country and Vietnam in the realms of economy, culture, and tourism. With this goal in mind, Gori has already taken measures to ensure that the partnership between the two countries will be fruitful for both parties. He has established various collaborations and agreements to facilitate exchanges in the fields of economy, culture, and tourism, and has also set up programs to promote the mutual understanding of their respective cultures. By fostering these close associations, Gori hopes to further strengthen the bond between Italy and Vietnam.

The Ambassador also presented two acclaimed Vietnamese films, “Hoa nhai” (Jasmine) directed by Dang Nhat Minh, and “Dem toi ruc ro” (Brilliant Darkness) by Aaron Toronto, to the Conca Verde cinema. These works will be screened during cultural festivals in Bergamo, offering Italian audiences a deeper understanding of Vietnam’s people, culture, and the progress of modern Vietnamese cinema.

On the occasion, Hung met and talked with the Rotary Club Bergamo Città Alta, with its members showing great interest in learning more about Vietnam as a desirable destination for tourism, business, and investments.

Standard Chartered Predicts Vietnam’s Goods Exports to Reach US$618 Billion by 2030

Vietnam’s exports of goods could reach as much as US$618 billion by 2030, with an average annual growth rate of 7 percent in the 2021-2030 period.

The information was highlighted in Standard Chartered’s report themed “Future of Trade: New Opportunities in High-Growth Corridors” released on May 31st. The report examines the potential for high-growth opportunities in global trade, and identifies new markets and sectors that may be ripe for expansion. This includes emerging markets such as India, China, and the Middle East, which have seen a surge in investment over the past decade. The report also looks at the role of technology in driving change, and the impact of digitalization on the global trade landscape. With a focus on sustainability and efficiency, the report outlines strategies for businesses to take advantage of new opportunities and succeed in the future.

Meanwhile, the nation’s imports are predicted to hit US$578 billion by 2030, with an average annual growth rate of 6.9% during the 2021-2030 phase.

According to Standard Chartered, Vietnam is set to become a key high-tech manufacturing hub in the Association of Southeast Asian Nations (ASEAN). With its burgeoning economy and highly competitive workforce, the country is well-positioned to become a major player in the tech industry. Vietnam is already home to well-known global technology companies such as Samsung, Microsoft, and Intel, and its government is actively encouraging foreign investment and technology transfer. This is expected to bring increased jobs and economic opportunities to the country. With its focus on developing high-value products and services, Vietnam is primed to become a major exporter of technology-related goods and services. As such, it is likely to become an important contributor to the regional economy and an attractive destination for investors.

In addition to its large and educated workforce, competitive manufacturing costs, and expansive web of free trade agreements (FTAs) spanning North America, Asia, and Europe, the nation also enjoys a range of benefits. These FTAs facilitate the free flow of goods and services, allowing businesses to capitalize on global trade and create jobs in the process. Furthermore, these deals often provide preferential access to overseas markets, helping to reduce certain tariffs and other trade barriers. Ultimately, this enables businesses to become more competitive in the global marketplace.

These fundamentals, crucial for manufacturing and trade, are expected to steadily drive Vietnam’s economic development and competitiveness.

Besides, Vietnam has become increasingly attractive to major global businesses in recent years, with many choosing to set up their manufacturing bases in the market. This has helped to spur economic growth in the country and enhance its position as a leading Southeast Asian economy.

Photo: VNN
Photo: VNN

To further integrate itself into the international trade system, the country is taking steps to bolster the quality of its logistics infrastructure in the marketplace. This includes upgrading key elements such as transportation, storage, and information flow. These efforts will help facilitate the efficient flow of goods and services, allowing for greater international collaboration and economic growth.

Mainland China, the Republic of Korea, and the United States are anticipated to be Vietnam’s principal trade partners in the upcoming years. According to the bank, trade with India, Singapore, and Indonesia is projected to witness robust expansion from 2021 to 2030.

Vietnam is believed to possess the world’s second-largest exploitable reserves of rare earths, coming in just after mainland China. These essential raw materials are integral to the production of electric vehicles and wind turbines, both of which are essential to the successful transition to clean energy.

The market is strategically positioned to occupy a vital role in the rapidly expanding global rare earth supply chain, as other markets search for ways to broaden their supply sources. Moreover, as the market shifts to the production of higher-end metals, Vietnam’s iron, steel, and nickel exports are expected to drive export growth in the years to come, according to a forecast by Standard Chartered.

To support the market’s ambition to become a manufacturing hub for consumer electronics in Southeast Asia, the nation imports essential electronic components, such as integrated circuits, micro assemblies, and electrical apparatus, to produce high-quality electronics goods for export. Furthermore, the imported components and tools enable the nation to meet the ever-evolving demands of the global consumer electronics market.

Vietnam’s thriving industries in construction, automobiles, and home appliances are poised to fuel imports for steel and iron over the next decade. This is an exciting development that could bring new economic opportunities to the country.

This surging demand is anticipated to fuel imports from countries like Mainland China, India, and Indonesia.

The total value of Vietnam’s exports and imports in 2022 was estimated at US$732 billion, up 10% from 2021, according to the Ministry of Industry and Trade (MOIT). This figure represents a significant increase from the previous year, highlighting Vietnam’s continued growth in international trade. The MOIT also noted that the country is continuing to secure advantageous trade agreements with global partners, further bolstering its economy. With such positive prospects for the near future, Vietnam is well-positioned to remain an important participant in international trade.

Rosie Nguyen