President’s Trip to Laos Aimed at Strengthening and Expanding Special Bilateral Relations

The two sides at the meeting (Photo: VNA)

Vietnam, UAE to kick off negotiations of comprehensive economic partnership agreement

Minister of Industry and Trade Nguyen Hong Dien and Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi of the United Arab Emirates (UAE) have signed a Ministerial Declaration to initiate negotiations on a comprehensive economic partnership agreement (CEPA) between the two nations, following the completion of Vietnam’s necessary procedures.

The signing ceremony of an agreement between UAE Minister of State for Foreign Affairs Dr. Anwar Gargash and Vietnamese Minister of Natural Resources and Environment Tran Hong Dien took place following a meeting between the two ministers during the Vietnamese minister’s working visit to the UAE from April 5-6. The agreement is aimed at strengthening the strategic partnership between the two countries.

During the meeting, the Vietnamese official stated that the two countries could begin negotiations on the Comprehensive Economic Partnership Agreement (CEPA) once the draft terms of reference (TOR) of the agreement had been agreed upon and approved by the relevant authorities.

Dien spoke highly of the opportunities that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CEPA) can bring for both Vietnam and the United Arab Emirates (UAE), in the context of Vietnam having become a manufacturing hub for many important commodities in the region and the world, while the UAE has many strengths as a transshipment port and financial and logistics centre. The combination of these strengths will create a momentum for growth in their trade and investment ties in the coming time, he said.

The Minister affirmed that the UAE is Vietnam’s largest trading partner in the Middle East and North Africa (MENA) regions, noting that ample room remains for the two countries to capitalize on the potential of their economies, which have complementary strengths.

He suggested that the two sides strengthen the exchange of all-level delegations and business delegations to explore cooperation opportunities, especially in the field of trade and investment.

Dien proposed that management agencies in Vietnam and the UAE should investigate and encourage the formation of a cooperative structure for Halal certification to facilitate the trading of agricultural products between the two nations. This would help to create a more seamless exchange of these goods.

Agreeing with the proposals of the Vietnamese official, Al Zeyoudi declared that his country wishes to extend economic cooperation with Vietnam, emphasizing that it always considers Vietnam an important economic partner.

The leaders of the United Arab Emirates (UAE) have given instructions to begin negotiations on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CEPA) as soon as Vietnam completes the necessary procedures, according to a statement from the Ministry of Foreign Trade. Furthermore, the Ministry of Foreign Trade has received support from many other ministries and sectors of the UAE, including those in charge of energy, industry, and logistics services, for the negotiation, signing, and implementation of the CEPA.

During his visit to the United Arab Emirates, Vietnamese Minister of Industry and Trade Tran Tuan Anh held a meeting with the UAE’s Minister of Energy and Infrastructure, Suhail bin Mohammed Al Mazrouei, according to Voice of Vietnam (VOV). During the meeting, the two ministers discussed ways to strengthen the cooperation between the two countries in the fields of energy and infrastructure. They also discussed the involvement of more Vietnamese companies in the UAE’s energy and infrastructure projects.

Dien informed his host that Vietnam desires to collaborate more closely with the UAE Ministry of Energy and Infrastructure in both traditional and new, renewable energy development. By doing so, they can leverage the potential of both sectors and create a more sustainable future for both countries.

He proposed that the two sides sign a new MoU on energy cooperation, adding that Vietnam will create favourable conditions for UAE partners to cooperate with Vietnam in oil and gas exploitation. He suggested considering the possibility of investing in building a centre for transshipment and storage of crude oil and petrochemical products in Vietnam to provide for the Asian region.

Dien also asked the UAE side to explore investment prospects in power transmission infrastructure in Vietnam and provide assistance to Vietnam in training human resources for this field.

He said that the UAE and Bahrain can work together to advance their economies and create new opportunities for their people.

Al Mazrouei further noted that the two countries have a long history of collaboration and friendship, and that the UAE and Bahrain are committed to strengthening their partnership. He also highlighted the importance of developing mutual understanding and trust between the two nations in order to ensure continued progress. Moreover, Al Mazrouei emphasized the need for both countries to prioritize social and economic development, and to work together to create a better future for their citizens.

The United Arab Emirates (UAE) has been actively researching, negotiating, and signing various Free Trade Agreements (FTAs) with important partners, such as Vietnam, according to recent reports. It is hoped that the two countries will be able to sign an FTA this year, thus further deepening their bilateral ties.

The United Arab Emirates (UAE) is looking to deepen its partnership with Vietnam in several key areas, an official has said. Speaking at a meeting in Abu Dhabi, the official highlighted the areas of power transmission, power generation, food security, healthcare, infrastructure, construction, and port management, as key areas to strengthen the partnership. He noted that the two countries have already been working together in these fields, but that more could be done to further their collaboration. He expressed his hope that this cooperation would help both countries to achieve mutual benefits and prosperity.

Vietnam to take advantage of demographics to drive economy

Vietnam has the potential to use its population structure to its advantage and spur economic growth, as well as attract foreign investment, foreign media outlets and experts have said. By taking advantage of its age structure, Vietnam could effectively boost its economy and bolster foreign involvement.

The country’s population is increasing, with a median age of 30.3 and a total fertility rate of 2.2 children per woman. This indicates a large, youthful population that is growing in size and could be a great asset to the country’s economic development. Moreover, the majority of the population is rural, providing an opportunity to create employment opportunities in the agricultural sector.

Furthermore, the Vietnamese government has implemented a number of initiatives to promote foreign investment. These measures include providing tax incentives, creating special economic zones, and improving the business climate and infrastructure. The government has also sought to improve the quality of education to attract more foreign investors.

By leveraging its population structure, Vietnam could effectively drive its economic development and attract foreign investment. With a large, youthful population and government initiatives in place, the country is in a position to boost its economy and create new opportunities for foreign involvement.

Global Finance, a magazine providing global news and insight for corporate financial professionals, has reported that Vietnam’s population is on the brink of a remarkable milestone: 100 million people. This number is sure to have a significant impact on the country’s economy, providing a powerful driving force for growth and development. Already, Vietnam has experienced immense economic growth over the past two decades, and this population milestone could further propel the country’s success. As Vietnam continues to modernize, the population boom may open up new opportunities and create a more prosperous future for the region.

A larger population translates into a greater domestic consumer market, enhanced availability of competent workers, and a more alluring profile for foreign investment, said the magazine.

Meanwhile, Brian Lee Shun Rong, a macroeconomist at Maybank, Singapore, quoted the United Nations Population Fund, stating that Vietnam is likely to maintain a favourable population structure until 2029. This means that the country can benefit from its demographics for more than two decades, allowing it to drive sustainable economic growth in the long term.

In his opinion, Vietnam should increase its investments in higher education and vocational training in order to leverage its vast workforce and boost economic productivity, thus helping elevate the economy in the global value chain, as reported by VOV.

Vietnam has been advised to take advantage of its golden population structure to drive economic growth. (Illustrative image)

The Banker that gives the latest UK and international banking, finance, and business coverage and analysis noted that Vietnam, along with India, Malaysia, and Indonesia, is experiencing an upward trend in foreign direct investment (FDI) inflows, particularly in manufacturing, owing to supply chain shifts.

Al Arabiya, a leading TV channel providing an in-depth coverage of breaking news in Saudi Arabia and the world, reported that Vietnam, Thailand, India, and Cambodia are the first countries to benefit from the shifting of the semiconductor manufacturing industry from traditional production bases this year. With the movement of the industry, these countries stand to gain a competitive edge in the global market.

Tristan Cotte, the managing director of Salveo — a subsidiary of the Adit Group, which specializes in investment consulting — has shared that Vietnam is a prime example of its ability to recover economically. He noted that, despite the various challenges the country has faced in the past, it has consistently demonstrated its resilience in bouncing back.

Despite global uncertainties, Vietnam remains a remarkably stable investment destination that has grown steadily over the past 30 years in spectacular fashion, the executive said, emphasizing that it should not be overlooked.

In its recently released Asian Development Outlook, the Asian Development Bank (ADB) forecast that Vietnam’s economic growth would be 6.5% this year before rising to 6.8% in 2021. The rates would be achievable if the government resolves to speed up public investment disbursement, apply a flexible monetary policy and promote domestic consumption.

The bank issued a warning about the potential risks associated with external inflation, banking system liquidity, and sluggish spending in major markets. It emphasized that these factors could have a negative effect on the economy.

State President’s Laos visit to further consolidate, develop special bilateral ties

State President Vo Van Thuong is set to pay an official visit to Laos from April 10-11, at the invitation of General Secretary of the Lao People’s Revolutionary Party (LPRP) and President of Laos, Thongloun Sisoulith. This visit marks an important milestone in the already strong relationship between the two countries.

This marks the President’s first overseas trip, and Laos is the first country he will visit in his new position. The visit takes place in the context of the continued development of the great friendship, special solidarity, and comprehensive cooperation between the two countries.

Over the past few years, the cooperation and political ties between Vietnam and Laos have seen remarkable progress. In particular, the two nations have joined forces to successfully hold the Vietnam – Laos and Laos – Vietnam Year of Solidarity and Friendship, with the primary goal of celebrating the 60th anniversary of the bilateral diplomatic ties and the 45th anniversary of the signing of the Friendship and Cooperation Treaty between the two countries. These momentous occasions have provided a platform for the two countries to further strengthen their relationship.

President Vo Van Thuong (Photo: VNA)

Cooperation on national defense and security have continued to be strengthened, and that on economy, trade, and investment maintained. Last year, the two sides launched and completed a number of projects with Vietnam’s assistance to Laos.

In 2022, Vietnam’s investments into Laos saw five new projects and four additional projects, totaling 70 million USD in capital. Additionally, two-way trade value rose to nearly 1.7 billion USD, an impressive increase of over 25%. Furthermore, the collaboration between the two countries in education and culture was given extra attention, with Vietnam offering 1,155 scholarships to Laos and approximately 14,000 Lao students studying in Vietnam.

Besides, cooperation between the two countries’ localities, especially those sharing the border, has also been further strengthened. This includes initiatives like increased cultural exchanges, joint economic development projects, and the implementation of new trade policies. Furthermore, the two sides are working together to improve the infrastructure along the shared border to facilitate cross-border transport and communication.

The two sides have been closely coordinating and providing mutual support to one another at regional and international cooperation forums, especially within the framework of ASEAN, the United Nations (UN), and sub-regional mechanisms, as reported by Vietnam News Agency (VNA).

The Vietnamese Ambassador to Laos, Nguyen Ba Hung, stated that President Thuong’s visit to Laos shortly after his election by the National Assembly is a clear indication of the strong attention and affection of the leaders of the Vietnamese Party and State to Laos, as well as their unwavering commitment to strengthening the ties between the two countries.

Within the framework of the visit, President Thuong and his entourage are scheduled to undertake a range of significant activities, including talks with the top Lao leader, meetings with the Laotian Prime Minister and Chairman of the Lao National Assembly.

In the context of the flourishing Vietnam-Laos relationship, the upcoming visit is expected to further promote bilateral cooperation and collaboration across all channels and areas, facilitating the implementation of high-level agreements between the two Parties and countries, and consistently strengthening the great friendship, special solidarity, and comprehensive cooperation between Vietnam and Laos.

Osaka Concert marks 50 years of Vietnam – Japan diplomacy

On April 6, a special concert was held in Sakai City, Osaka Prefecture, Japan, to commemorate the 50th anniversary of the establishment of diplomatic relations between Vietnam and Japan. People from across the two countries gathered to celebrate this momentous occasion with music, dance, and other festivities.

The event was a unique collaboration between the Vietnam Symphony Orchestra and the Osaka Symphony Orchestra, and featured the renowned conductor, Honna Tetsuji, who has been with Vietnam for years, as well as the renowned violinist, Bui Cong Duy. It was a spectacular display of talent that brought the two orchestras together to create a memorable performance. Audience members were treated to a night of delightful music, as the two orchestras combined their efforts to bring the evening to life. The combination of Honna Tetsuji’s conducting and Bui Cong Duy’s violin performance made the evening a truly unforgettable experience.

In his opening speech, Deputy Minister of Foreign Affairs of Vietnam, Pham Quang Hieu, emphasized the importance of the concert, which, he said, alongside other cultural activities to be held in the coming weeks, will help to foster cultural exchanges and strengthen the bond between the two countries.

The Fenice Sakai Performing Arts Centre has been occupied by approximately 2,000 spectators watching Vietnamese and Japanese artists perform in the special concert.

State Minister for Foreign Affairs of Japan, Takei Shunsuke, warmly congratulated the success of the concert – the first cultural event to celebrate the milestone of 50 years of diplomatic ties between Japan and Vietnam. He noted that the bilateral relations between the two countries are at their strongest.

He said 2023 is a special time for the two sides to review the achievements of the past 50 years of their relations and to strive for better relations in the next 50 years, cited VOV.

The performance was led by the esteemed conductor of the Fenice Sakai Orchestra, Maestro Hiroshi Kato, and featured renowned violinist, Sayuri Nishimiya.

The ballroom of the Fenice Sakai Performing Arts Centre was alive with excitement as approximately 2,000 spectators gathered to witness a stunning performance of Beethoven’s masterpieces. Led by the renowned Maestro Hiroshi Kato, the conductor of the Fenice Sakai Orchestra, and featuring renowned violinist, Sayuri Nishimiya, the audience was treated to symphony No. 5, and the Violin Concerto, among other works. It was a truly remarkable evening of music.

Conducted by Honna Tetsuji, two of his favorite works – Beethoven’s Symphony No. 5 and Violin Concerto – will be performed once more in Osaka. Joining him in this performance will be Meritorious Artist Bui Cong Duy. Tetsuji has performed these pieces countless times throughout his career, and is now delighted to bring them to life once more.

Vietnam through to second round of Paris 2024 women’s football qualifiers

Vietnamese footballers achieved a resounding victory, defeating Nepal by an aggregate score of 7-1 to advance to the second round of women’s football qualification for the Paris 2024 Olympic Games. This outstanding result was a testament to the skill and determination of the Vietnamese team, who will now look ahead to the next round of the competition with great optimism.

As the favourites, Vietnam soon dominated the match and opened the score in the fifth minute with a goal by Hai Yen, who doubled the lead just one minute later.

Two goals within a span of six minutes helped Head Coach Mai Duc Chung’s team play comfortably and slacken the pace, with the ball mainly circulating around the halfway line, according to NDO. The two quick goals allowed the team to shift their focus away from the pressure of the game and enjoy a more relaxed style of play.

Hai Yen’s two goals help send Vietnam to the second qualification round of the Paris 2024 Olympic Games. (Photo: ANFA)

But a slower pace allowed Nepal more time to plan their attack, and the hosts created several dangerous situations, although none resulted in a goal.

In the second half, Nepal ramped up their offensive, but Vietnam still managed to maintain control of the game, ultimately resulting in no further goals being scored.

With a 5-1 win in the first leg, Vietnam began their journey to the Paris 2024 Games with a resounding 7-1 victory on aggregate against Nepal. This dominant performance saw the Vietnamese team secure their place in the next qualification round.