Vietnam News Today (Aug. 11): Vietnam Looks to Draw Reputable US Investors

Vietnam News Today (Aug. 11): Hanoi, Vientiane boost co-operation for mutual development; Vietnam looks to draw reputable US investors; Minister gives further details about new passport version; Da Nang named among 18 great destinations for group trips.

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Vietnam News Today (Aug. 11) notable headlines

Hanoi, Vientiane boost co-operation for mutual development

Vietnam looks to draw reputable US investors

Minister gives further details about new passport version

Da Nang named among 18 great destinations for group trips

Football: U19 Vietnam beat Thailand, face Malaysia in final round at Int’l U19 Tournament

E-book “Vietnam in the Ho Chi Minh Era – A Television History” debuts

Global inflation threatens Vietnamese exports

Largest Vietnamese private enterprises become key driver to national economy

Tourism ministry proposes extending tax cuts for travel firms

An overview of the meeting. Photo: NDO
An overview of the meeting. Photo: NDO

Hanoi, Vientiane boost co-operation for mutual development

A trade promotion conference entitled “Hanoi – Vientiane Cooperation for mutual development” took place on August 10 in Hanoi, alongside a photo exhibition displaying and introducing products originating from both capitals.

The purpose of the event is to respond to the Vietnam-Laos Friendship Year 2022 and further tighten the relationship between the two parties, countries, and peoples.

This is viewed as a prime opportunity for the authorities and businesses of the two localities to come together to exchange and share useful information about investment opportunities, preferential policies, and the investment attraction of both Hanoi and Vientiane.

It will also serve as a bridge for firms to meet and find potential partners in many areas which the two cities are strong in.

As part of his opening speech, Nguyen Manh Quyen, vice chairman of the Hanoi People’s Committee, highlighted comprehensive development on all channels, with many effective projects in fields such as the economy, health, education, agriculture, military, and people-to-people exchanges between Vietnam and Laos. This is along with co-operation between the two capitals and between Hanoi and Lao localities in general.

Hanoi’s export turnover to Laos during the first half of the year reached US$74.8 million, accounting for 0.9% of the capital’s total export turnover in the reviewed period. In addition, Hanoi’s import turnover from Laos throughout the reviewed period hit US$98.3 million.

Quyen expressed his hope that moving forward, both sides will launch more activities aimed at promoting co-operation between the two cities in a more practical, effective, and comprehensive manner. This will involve continuing to open a new and dynamic development period for the benefit of citizens of each country, for the cause of peace, stability, and common prosperity throughout the region.

Phouvong Vongkhamsao, vice mayor of Vientiane, said the conference gives the two sides the chance to exchange and share experience, especially opportunities and strengths in attracting investment so the capitals retain a key role in the socio-economic development of the two countries.

The function has also given both nations’ businesses the chance to exchange, learn, and establish strategic partners in investment promotion, trade, and tourism in the new normal between the two countries.

Regarding information about investment opportunities, preferential policies, and investment attraction in Hanoi, Nguyen Ngoc Tu, deputy director of the Hanoi Department of Planning and Investment, said Hanoi is a safe, attractive, and stable destination for firms.

Moreover, the municipal administration is constantly innovating to improve the overall quality of management, whilst continuing to strongly improve the local business investment environment, which is open, convenient, transparent ,and fair for investors. They can therefore do business successfully and ensure sustainable development, thereby contributing to the greater socio-economic development of Hanoi, Tu added.

At present, the registered FDI capital of Laos poured into Hanoi stands at US$7.99 million, of which there are four new projects with a total registered capital of US$3.65 million, cited VOV.

Lao enterprises invest in the Vietnamese capital in a number of fields, such as commerce, real estate, finance, banking and insurance, as well as car and motorbike repairs.

During the conference, business representatives of the two countries discussed opportunities for further co-operation in goods production, investment promotion and attraction, as well as offering proposals and recommendations to support firms of the two countries in boosting trade exchanges.

A ceremony was held to present three Memorandum of Understanding (MoU) between Vientiane and Hanoi businesses as part of the occasion.

Within the framework of the conference, Hanoi organised a photo exhibition displaying typical products, goods, specialties of craft villages, and photos featuring famous sites in both Hanoi and Vientiane.

Additionally, Laotian enterprises operating in the fields of agricultural production, auto parts, handicrafts, consumer goods production, as well as garments and textiles, participated in product displays and looked for consumption partners.

Vietnam looks to draw reputable US investors: Ambassador

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN, has suggested Nasdaq Inc of the US introduce reputable and experienced US investors to invest in Vietnam in IT, renewable energy, agriculture, health care, education, finance, and real estate in the coming time.

In a meeting on August 9 with Robert McCooey, Senior Vice President of Nasdaq’s Listing Services unit, who leads business development for new listings in Latin America and Asia-Pacific, the Vietnamese diplomat said Vietnam wants to attract big firms from the US to invest in the above-mentioned areas, especially those that can contribute to implementing Vietnam’s commitments at the 26th UN Climate Change Conference of the Parties (COP26).

Vietnam News Today (Aug. 11): Vietnam Looks to Draw Reputable US Investors
Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN (First from right). Photo: VOV

The Delegation of Vietnam to the UN is ready to cooperate with Nasdaq in the organization of meetings and seminars to this purpose, especially on the occasion of working visits of Vietnam’s high-ranking delegations to New York, he affirmed.

McCooey said that Vietnam’s investment environment has a clear competitive advantage in the region thanks to its flexible response policy to the Covid-19 pandemic, and stable legal system.

He welcomed the suggestion of the delegation, saying Nasdaq is willing to work with the delegation to introduce business opportunities in Vietnam to US investors.

McCooey also expressed satisfaction about his working visit to Vietnam last month, and hoped to have the opportunity to return to Vietnam soon, according to VNA.

Nasdaq – the second largest stock exchange in the US, is an electronic stock exchange founded in 1971 by the US National Association of Securities Dealers (NASD). It is now home to more than 3,500 listed companies with a market capitalization of US$19.4 trillion, including global leading companies such as Apple, Alphabet, Microsoft, Amazon, Facebook, Tesla, Paypal, and Intel.

Minister gives further details about new passport version

Minister of Public Security Gen. To Lam provided more information about the new passport version of Vietnam while fielding questions from full-time lawmakers at the 14th session of the National Assembly (NA) Standing Committee on August 10.

He said the granting of the new passport has been carried out in line with the Law on Exit and Entry of Vietnamese Citizens, adopted by the NA in 2019, and that all details shown in the passport are in accordance with law, NDO reported.

The new passport version matches international practices, he said, noting that many countries also use this design, which doesn’t include the “place of birth”.

The new passport of Vietnam has been accepted by most countries in the world. Spain, which previously didn’t recognise the new version, has recently accepted. Now, only Germany and the Czech Republic haven’t, according to the minister.

Lam explained that some countries refused to accept the new passport without the “place of birth” since they want to know the origin of foreigners coming.

Minister of Public Security Gen. To Lam answers questions from lawmakers on August 10. Photo: VNA
Minister of Public Security Gen. To Lam answers questions from lawmakers on August 10. Photo: VNA

“This is just a technical issue,” he affirmed, adding his ministry has worked out a solution that is relevant agencies adding the “place of birth” in the appendix of passports if their holders wish.

In the long term, if necessary, the Ministry of Public Security will report to the Government and propose the NA revise the Law on Exit and Entry of Vietnamese Citizens in order to add the “place of birth” to passports.

As the ministry is the coordinator, it holds responsibility for this work, the minister said.

In a report sent to legislators prior to the question-and-answer session, he said compared to the old passport, the new version is produced by using modern technology to meet higher security requirements and standards of the International Civil Aviation Organisation (ICAO).

So far, the MPS has granted 272,000 passports of the new version.

In the report, Lam noted according to the ICAO regulations, compulsory information in a passport consists of the type of passport, full name, passport number, date of birth, sex, and passport expiration date. ICAO also gave detailed regulations on the design and layout of information on the page of personal information to ensure consistency among countries in the world.

The new passport version has closely followed the above-mentioned rules and completely met international standards, the minister affirmed.

Explaining why the new passport doesn’t contain information about the place of birth, he said ICAO did not designate other information like the place of birth as mandatory. According to the Law on Exit and Entry of Vietnamese Citizens, information in passports also doesn’t include the place of birth.

On that basis, the MPS issued the new passport version without the place of birth to facilitate citizens’ entry.

In the long term, the MPS will revise the passport design and add the “place of birth” in the page of personal details, Lam noted, adding that it is collecting opinions about this issue from the parliament’s committees for defence – security and legal affairs, the Government Office, the Ministry of Justice, and the Ministry of Foreign Affairs.

Da Nang named among 18 great destinations for group trips

Lindsay Cohn, a travel writer of Travel+Leisure magazine, has selected the central city of Da Nang as part of 18 locations which are well suited for a fabulous group trip.

According to Cohn, Da Nang represents a culinary powerhouse that boasts an array of palate-pleasing delicacies.

“The night market stalls overflow with fresh-hauled seafood, and the fragrant aroma of bun cha ca fills the air outside the cafes,” says the writer.

My Khe beach in the central city of Danang. Photo: VOV
My Khe beach in the central city of Danang. Photo: VOV

Besides a range of mouth-watering food, she recommends that visitors enjoy the gorgeous sandy beaches which sit alongside the central city, as well as visit local cultural sites such as the Marble Mountains and Ba Na Hills.

She also suggests that travelers choose InterContinental Danang Sun Peninsula Resort if they are looking for a high-end group stay, cited VOV.

Rounding off the list unforgettable places for group trips are Tokyo of Japan, Ibiza of Spain, Santa Teresa of Costa Rica, Scottsdale of Arizona, Capri of Italy, Cartagena of Colombia, and Amsterdam of the Netherlands. This is along with St. Thomas of the US Virgin Islands, New Orleans of Louisiana, Aspen of Colorado, Bali of Indonesia, Milwaukee of Wisconsin, Marrakech of Morocco, Punta Cana of the Dominican Republic, London of the UK, Vancouver of Canada, and Mykonos of Greece.

Football: U19 Vietnam beat Thailand, face Malaysia in final round at Int’l U19 Tournament

Vietnam beat Thailand 1-0 in its third match of the 2022 International U19 Tournament in the southern province of Binh Duong on August 9.

Vietnam will advance to the final round of the 2022 International U19 Tournament. Photo: VFF
Vietnam will advance to the final round of the 2022 International U19 Tournament. Photo: VFF

Though already winning a ticket to the final round, the Vietnamese team still played with high determination. Dinh Bac earned the first score in the 14th minute, which enabled the team to control the match.

In final minutes, Thailand created several dangerous situations but was unable to score, then accepted the 0-1 failure. The result ousted Thailand from the tournament, reported NDO.

With three consecutive wins, Vietnam will play Malaysia next in the final round at 6:30 pm on August 11 night.

Rosie Nguyen