Vietnam News Today (May 3): Vietnamese, Cambodian Navies Convene 33rd Experience Sharing Conference

Vietnam News Today (May 3): In the first four months, disbursed FDI capital hit a five-year peak; Dong Nai and South Korea's Gyeongnam Province join forces on labor training; A forum explores ways to strengthen Vietnam-Australia digital collaboration; and the Vietnamese and Cambodian navies hold their 33rd experience-sharing conference.

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Vietnam News Today (May 3) notable headlines

Disbursed FDI capital hits five-year high in first four months

Dong Nai, RoK’s Gyeongnam province cooperate in labor training

Forum discuses orientations for Vietnam-Australia digital cooperation

Vietnamese, Cambodian navies convene 33rd experience sharing conference

HCMC sees longest heatwave in 30 years

Alibaba to build data center in Vietnam

Vietnamese PMI exceeds 50 points on solid rebound in new orders: S&P Global

Five export items earning over US$5 billion each in four months

Vietnam likely to export more than 8 million tonnes of rice this year

FDI businesses have disbursed US$6.28 billion over the past four months. Photo: VOV

Disbursed FDI capital hits five-year high in first four months

Vietnam’s disbursed FDI capital in the past four months rose 7.4% over the previous year’s corresponding period to US$6.28 billion, the highest in the past five years, according to the General Statistics Office.

Manufacturing and processing took the lead, with US$4.93 billion worth of FDI capital disbursed. It was followed by real estate with US$607.6 million, and the production and distribution of electricity, gas, hot water, steam, and air conditioning with US$259.8 million.

Meanwhile, Vietnam attracted nearly US$9.27 billion in FDI capital as of April 20, representing a 4.5% rise over the same period last year, cited VOV.

Processing and manufacturing lured the largest FDI capital of nearly US$5 billion, accounting for 70.2% of the total newly registered capital. Real estate came second with US$1.6 billion, and other industries received US$519.6 million.

Singapore was the largest investor throughout the four-month period, contributing US$2.59 billion. It was followed by Taiwan, Turkey, China, Japan, and Hong Kong (China).

The General Statistics Office also reported that as many as 345 projects registered to adjust their investment capital by an additional US$1.23 billion.

Furthermore, there were 902 registered capital contributions and share purchases by foreign investors with a total capital contribution value of US$929.6 million.

Dong Nai, RoK’s Gyeongnam province cooperate in labor training

The southern province of Dong Nai and the Republic of Korea (RoK)’s Gyeongnam province signed a series of agreements on May 2 to deepen collaboration in labor and human resources training.

During a working session in Dong Nai, Acting Chairman of the provincial People’s Committee Vo Tan Duc and Governor of Gyeongnam province Park Wan Soo signed a cooperation agreement on behalf of their respective provinces.

Authorities of Dong Nai’s Thong Nhat district and Gyeongnam’s Geochang district also established a labor agreement while Dong Nai University and Gyeongnam Geochang inked another agreement on human resources training, with a focus on Korean language skills.

The agreements pave the way for Dong Nai to send seasonal workers to Geochang to support the agricultural sector. Additionally, they established a framework for Dong Nai to export skilled workers to Gyeongnam in industries like automotive, aerospace, aviation, and manufacturing, according to VNA.

At the signing ceremony (Photo: VNA)

Nguyen Hong Linh, Secretary of the Dong Nai provincial Party Committee, highlighted the province’s attractiveness to foreign investors, with projects from 43 countries and territories currently operating there. Korean enterprises lead the pack in terms of foreign direct investment (FDI) volume and value in Dong Nai, with a total investment of nearly 7.3 billion USD.

Governor Park lauded the robust and friendly cooperation between the two localities over the past 28 years, wishing that they would intensify collaboration in various areas for mutual benefit.

Forum discuses orientations for Vietnam-Australia digital cooperation

The Australia-Vietnam Young Leaders Dialogue Network hosted a digital technology forum in Melbourne on May 2 to map out orientations for digital cooperation between Vietnam and Australia.

More than 160 representatives from relevant ministries, associations, and businesses from both countries outlined information about digital economies, emerging technologies, trends and development prospects for artificial intelligence, blockchain, cybersecurity, sustainable development, and education, VOV reported.

An overview of the forum.

Jonathan Saw, Australian Trade Commissioner in Vietnam, affirmed that Vietnam represents a potential market for Australian digital technology businesses, and its digital economy is estimated to be worth between AUD180 billion and AUD300 billion.

The country is also considered to have the fastest growing digital economy in Southeast Asia, meaning that Australian technology firms will have huge opportunities to engage in the country’s ongoing digitalisation process, especially in areas such as cybersecurity, financial technology, agricultural technology, educational technology, smart cities, and infrastructure, he noted.

Tran Van Binh, chief of the Operations Management Office of the National Center for Innovative Startup Support, said that Vietnam is focusing on developing its digital economy and facilitating the operations of businesses in the field of innovation and digital technology.

The event has provided an ideal venue for policymakers, businesses and experts to examine ways of strengthening linkages among innovation ecosystems of the two countries, as well as enhancing ties in the digital field moving forward, he added.

At the forum, representatives of the Vietnam Blockchain Association and the Australian Blockchain Association signed a memorandum of understanding on future cooperation.

Vietnamese, Cambodian navies convene 33rd experience sharing conference

The 33rd experience-sharing conference on joint patrol activities between Vietnam’s Naval Region 5 and Cambodia’s Ream Naval Base took place in the port city of Sihanoukville, the southwestern province of Preah Sihanouk of Cambodia on Thursday.

The conference, co-chaired by Rear Admiral Nguyen Huu Thoan, Political Commissar of the Naval Region 5 Command, and Rear Admiral Mey Dina, Commander of the Ream Naval Base, focused on successes achieved during the 73rd and 74th joint patrols in the historical waters between Vietnam and Cambodia.

Both sides commended the effectiveness of their coordinated patrols in maintaining security and order within the patrolled areas. They highlighted successful joint training exercises that included maneuvering formations, search and rescue operations, and communications via flag signals, semaphore, and light signals as outlined by international signal law.

During the patrol process, the two countries’ naval vessels regularly exchanged information on the maritime situation and related issues. They also conducted close observation and control of activities in the historical waters, thereby contributing to maintaining security and order, facilitating economic development of the two countries’ coastal communities, cited VNS.