Vietnam News Today (Apr. 24): Vietnamese And Chinese Localities Seek Stronger Cooperation

Vietnam News Today (Apr. 24): Vietnam attends 26th UN-INTOSAI symposium; Vietnamese and Chinese localities seek stronger cooperation; Vietnam’s economy shows gradual recovery: WB’s report; Vietnamese and Lao PMs co-chair roundtable with ASEAN businesses and partners.

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Vietnam News Today (Apr. 24) notable headlines

Vietnam attends 26th UN-INTOSAI symposium

Vietnamese and Chinese localities seek stronger cooperation

Vietnam’s economy shows gradual recovery: WB’s report

Vietnamese and Lao PMs co-chair roundtable with ASEAN businesses and partners

Dien Bien Phu veterans and war youth volunteers honored on 70th anniversary

Government leader rejoices over sound strategic partnership with Indonesia

ASEAN Future Forum 2024 wraps up in Hanoi

Vietnam, RoK hold 11th defense policy dialogue

PM hosts Chairman of Russian Federal Bar Association

Vietnam attends 26th UN-INTOSAI symposium

A delegation of the State Audit Office of Vietnam (SAV) led by Deputy Auditor General Nguyen Tuan Anh attended the 26th symposium co-organized by the United Nations (UN) and the International Organization of Supreme Audit Institutions (INTOSAI) in Vienna, Austria, as part of their working trip from April 15-21.

The biennial event aimed to enhance the capacity of Supreme Audit Institutions (SAIs) in developing countries and economies in transition to address climate action challenges. It took the theme “Implementation of Sustainable Development Goal 13 on climate action: role, contribution and experience of SAIs”, with the attendance of representatives from over 60 SAIs and relevant agencies.

Discussions centered on SAI experiences in auditing the impact of climate change, preparing necessary conditions for climate action audits, and enhancing climate actions and the impact of climate change audits.

In recent years, the SAV has focused on thematic, operational and environmental audits that address public concern, and integrated environmental protection and climate change adaptation into its annual audit plan, cited VNA.

Given Vietnam’s vulnerability to climate change, the SAV’s active participation in international cooperation activities in environmental auditing, climate change and sustainable development goals within the INTOSAI framework presents a valuable opportunity for capacity building. This aligns with the SAV’s strategy on development until 2030, contributing to the Government’s overall efforts to combat climate change, reduce greenhouse gas emissions and achieve sustainable green development goals.

Alongside the symposium, Deputy Auditor General Nguyen Tuan Anh also had bilateral meetings with leaders of several member SAIs of the Asian Organization of Supreme Audit Institutions (ASOSAI) to seek the support of SAIs for the SAV’s bid for a seat in the ASOSAI Governing Board for the 2024-2027 tenure.

At a working session with the UN Office on Drugs and Crime (UNODC), he said the SAV has full legal basis and authority to audit cases with signs of corruption in accordance with the provisions of the Anti-Corruption Law and the State Audit Law, adding that enhancing the effectiveness of auditing major thematic areas related to the management and operation of the State budget; issues that are prone to negative practices, corruption, wastefulness and important national issues is one of the key tasks of the SAV’s development strategy till 2030.

Anh expressed his desire for stronger cooperation with UNODC through knowledge exchange and access to international research and publications on anti-corruption. He asked UNODC to suggest potential areas where the SAV could contribute to its initiatives and the UN in general.

Brigitte Strobel-Shaw, Chief of the UNODC Corruption and Economic Branch, expressed her readiness to share existing guidance related to risk management and anti-corruption efforts with the SAV.

With its wide network spanning over 150 countries, UNODC will boost cooperation with the SAV through its regional office in Bangkok, Thailand, she said.

The official hoped that the two agencies will actively develop their partnership on anti-corruption through multilateral cooperation forums within the INTOSAI framework.

Vietnamese and Chinese localities seek stronger cooperation

Delegations of Ha Quang district’s Party Committee in the northern mountainous province of Cao Bang and Napo county’s Party Committee in China’s Guangxi province held talks on April 22 in Cao Bang.

Le Hai Yen, secretary of the Ha Quang Party Committee, said that over recent years, the two committees have enhanced collaboration across multiple fields and obtained substantive results.

Moving forward, Ha Quang desires to step up cooperation and exchanges in all spheres with Napo County, including organizing regular meetings and cultural exchanges, strengthening cross-border disease prevention and control, and continuing to disseminate and competently implement documents on the land border.

Pan Fulin, secretary of the Napo Party Committee, affirmed the results achieved in cooperation between the two localities have contributed to building a border of peace, friendship, and stability for economic development.

The official proposed a range of measures aimed at enhancing collaboration in culture, tourism, import and export, and agricultural development; as well as continuing to expand people-to-people diplomacy activities, according to VOV.

This comes after the delegation of the Napo Party Committee was hosted by Trieu Dinh Le, permanent vice secretary of the Cao Bang Provincial Party Committee and chairman of the People’s Council.

Vietnam’s economy shows gradual recovery: WB’s report

Vietnam’s economy is showing mixed signs of recovery in early 2024, with growth forecast to reach 5.5% in 2024 and gradually rise to 6.0% by 2025, according to the latest World Bank Taking Stock bi-annual economic update released on April 23.

Addressing a press conference held by the WB on the same day, World Bank Lead Economist for Vietnam Andrea Coppola said the country’s exports are recovering, and consumption and private domestic investment growing more gradually.

Real exports are expected to grow by 3.5% in 2024, reflecting a gradual improvement in global demand. In addition, a turnaround in the real estate sector is anticipated later this year and next year, bolstering domestic demand as investors and consumers regain confidence, he said.

Senior Economist at the WB in Vietnam Dorsati Madani said the forecast is based on the assumption that exports of manufactured industrial goods will recover significantly in 2024 thanks to a rebound growth of 8.5% compared to the same period last year in the fourth quarter of 2023 and a 17.2% increase year-on-year in the first quarter of 2024; and an improving global demand.

Export of manufactured industrial commodities is expected to continue recovering in the next two years. The real estate market is predicted to transition towards an upward trend in late this year and early 2025, as the frozen bond market loosens and the Land Law takes effect from January 2025.

Real total investment and private consumption are projected to increase by 5.5% and 5% in 2024, respectively, VNA reported.

According to Dorsati, inflation is forecast to increase slightly to 3.5% in 2024 from an average of 3.2% last year, and then stabilize at around 3% in 2025 and 2026. This projection is based on expectations of stable energy and commodity prices.

The economist also warned of potential downside risks both domestically and internationally that could negatively impact the economic