Through supervision of online stock trading service provision activities, the State Securities Commission found that traders have been using robot technology to place automatic online stock trading orders with great frequency. This activity has many potential risks and affects the stability of the stock market.

In its latest announcement, the State Securities Commission requested securities companies to review and immediately stop traders from automatic order placement.

At the same time, these companies must adopt technical measures to prevent stock automatic order placement and require investors to stop using this form without permission of the responsible agency. Stock trading bots allow stock traders to buy, sell, and trade stocks and other securities automatically using a bot that executes trades automatically based on a specific trading strategy to automate profits.

According to the State Securities Commission, the phenomenon of using robot technology to automatically place online stock trading orders has many potential risks and affects the stability of the stock market.

Specifically, automatic order placement causes a sudden increase in orders in the portal of the Stock Exchange at the same time, leading to the number of orders entering the floor exceeding the design capacity of the system, causing problems of system overload. Moreover, this activity leads to the risk of chain breakdown when the market goes bad; thereby negatively impacting the risk management of securities companies.

Accordingly, the State Securities Commission required securities companies to seriously implement and take full responsibility before the law for the above issues.

Singapore financial group spends US$100 million to invest in agriculture in VN

Singapore financial group spends US$100 million to invest in Vietnamese agriculture, said Chairman of Raffles Financial Investment Fund and Victoria Financial Group in Singapore Charlie.

At yesterday’s conference ‘Opportunities to export, invest and raise capital for startups’ organized by Ho Chi Minh City-based Hoa Sen University, Chairman of Raffles Financial Investment Fund and Victoria Financial Group in Singapore Charlie In expressed his great interest in Vietnam's agricultural sector revealing that the fund will spend US$100 million to invest in the sector.

Mr. Charlie In expressed his admiration for Vietnam which can produce many diverse agricultural products with very good quality because Singapore can’t do this as the natural conditions of an island are not favorable for agricultural development. Therefore, the Singaporean government always takes heeds of food security.

He said that Singapore wants to find friendly neighboring countries that can provide food affirming that the two countries will be partners to have mutual benefits. He stressed having fresh vegetables and good fruits imported into Singapore to ensure food security for Singapore

He added that the group will pour investment into Vietnam to develop sustainable agriculture, and raise standards, with many environmentally friendly green products with the aim to increase GDP and Vietnamese farmers’ income; subsequently, the group will also achieve benefits.

In addition to investing in green agriculture, Mr. Charlie In also shared about the importance of the processing industry. He cited that if farmers sell raw agricultural products, they may only earn 10 cents, but when they package it beautifully, ready to eat or cook, they can sell it for $1. GDP can also increase significantly creating value for the product.

The representatives of Singapore's investment fund are also proud that Singapore is the largest foreign investor in Vietnam at present.

At the seminar, CEO of Su Tu Vang Garment Company Do Huu Thanh talked with more than 150 Hoa Sen University students about entrepreneurial thinking, his startup story and how he becomes a businessman after 27 years.

In addition, Founder and General Director of Smart Logistics Vietnam Company Tran Van Phuong talked about logistics trends in Vietnam.

Central agencies about to crack down on social insurance violators in HCMC

The Vietnam Social Security and the Ministry of Public Security will launch an interdisciplinary inspection of the social insurance payment in HCMC and throw the book at violators.

The Vietnam Social Security and the Ministry of Public Security had a meeting to agree on the organization of an inter-sectoral inspection in September to handle the evasion of payment of social insurance, health insurance and unemployment insurance premiums in the city.

The interdisciplinary inspection team will work directly with businesses in Ho Chi Minh City to detect employers evading compulsory social insurance contributions or those with late payment of social insurance, health insurance, and unemployment insurance.

At the same time, the inspection team will also clarify difficulties and problems in mechanisms, policies, and legal regulations related to evasion of compulsory social insurance contributions, late payment of social insurance, health insurance, and unemployment insurance as a basis for further proposals and recommendations to authorities to improve relevant legal policies.

In addition, the inspection team will review all dossiers to file a lawsuit against those evading social insurance, health insurance, and unemployment insurance payments following the proposal of the Ho Chi Minh City Social Security. Furthermore, they will identify and remove barriers and obstacles for leaders of the Ministry of Public Security and leaders of the Vietnam Social Security to guide the synchronous implementation of the inspection between the two sectors.

More US firms invest in Vietnam

More firms from the United States have come to Vietnam to invest in projects nationwide and study the Southeast Asian country’s market to have an in-depth understanding of how the market works.

With nearly 1,300 valid investment projects in Vietnam, the US is currently ranked 11th among countries and territories investing in Vietnam not to mention the large amount of money that the US poured into Vietnam through third countries.

In 2006, Intel Corporation's decision to invest in Vietnam marked an important milestone, contributing to putting Vietnam's name on the global information technology and electronics map.

After 16 years of operation, Intel has invested nearly US$1.5 billion in the Southeast Asian country, including $475 million being invested from June 2019 to December 2020 to strengthen the development and production of 5G and Intel Core processor hybrid technology products.

Intel Products Vietnam also helps create more than 6,500 jobs in the high-tech sector, including about 2,400 Intel employees. Particularly in the first quarter of 2023, this group contributed 50 percent of the total export turnover to Saigon Hi-Tech Park (SHTP) and 15 percent of the export turnover of electronic components of the country.

Cargill Vietnam went into operation in February 1995 and was the first American company to be granted a license to distribute goods directly in Vietnam. Over 27 years of operation in the country, Cargill has invested hundreds of millions of US dollars, building 11 animal feed processing factories across the country and a product distribution center in the Mekong Delta City of Can Tho, hiring about 1,400 employees.

This corporation has contributed to projects to improve educational infrastructure for Vietnamese children outcomes in addition to sponsoring hundreds of schools in 53 provinces and cities and more than 17,000 children in rural, remote and isolated areas.

Coca-Cola Beverage Group was operated in Vietnam in 1994 and currently has 3 factories located in Ho Chi Minh City, Da Nang and Hanoi bringing 2,000 jobs for Vietnamese employees.

Besides, many other US enterprises such as GE Vietnam, P&G, Kimberly Clark, Crown Cork, and 3A Nutrition are currently operating effectively in Vietnam. Amkor Technology Inc. - a global semiconductor product packaging and test services provider - also planned to put a new factory in the Northern Province of Bac Ninh into operation by the end of this year which has an investment of $500 million in the first phase.

Many more optimistic signals emerged last March when more than 50 US businesses in many new fields such as healthcare, aerospace, digital economy, e-commerce, and retail came to Vietnam to do market surveys. They included leaders from Lockheed Martin, SpaceX, and Netflix.

Moreover, Boeing opened a new office in Hanoi in May 2023, just 2 months after the group's leaders joined the business delegation to Vietnam.

Senior Vice President of Boeing Group and President of Boeing Global Brendan Nelson affirmed that Boeing will fully support the development of Vietnam's aerospace industry, making efforts to develop the supply chain in Vietnam. The group also considered the proposal to set up an aircraft repair and maintenance center in this country.

Binh Dinh begins construction of $220 million road

Binh Dinh People’s Committee kicked off the construction of a road connecting National Highway No.19 to Becamex VSIP Binh Dinh Industrial Park (IP) on September 8.
 
The road will stretch for 20km and have a total investment of VND1.17 trillion ($50.8 million). The central budget will allocate VND800 billion ($35 million) to the construction, with the remaining capital coming from the local budget.

Once completed, the road is expected to contribute to the ongoing development of Binh Dinh Economic Zone by promoting further trade and investment to the area. It will also make travel easier for employees of Becamex VSIP who live far away from the IP.

Becamex VSIP is considered a favourable destination for investors and this new road is one of several large-scale infrastructure projects that are vital for the socioeconomic development of Quy Nhon city.

Bing Dinh is also accelerating the construction of the coastal route section of National Highway No.1D to connect with the new National Highway No.19, which started construction in March.

Binh Dinh Economic Zones Management Authority aims to entice 60 new projects to Nhon Hoi Economic Zone and other IPs around the province this year, with a total investment set to reach some $136 million, more than twice the amount seen in 2022.

ADB, GreenYellow sign deal for commercial and industrial rooftop solar in Vietnam

The Asian Development Bank (ADB) and GreenYellow Smart Solutions Vietnam Co., Ltd. (Green Yellow), have signed a loan agreement of up to US$13.8 million for rooftop photovoltaic (PV) solar systems in a bid to help increase the supply of clean and affordable energy for commercial and industrial consumers based in Vietnam.      

The loan will be used to support the further development and operation of solar PV systems located on the rooftops of commercial and industrial businesses across the country. The financing package comprises of a US$3 million A loan from ADB’s ordinary capital resources and US$10.8 million parallel loans from FMO, a climate fund managed by responsAbility Investments AG, and Societe Generale, with ADB working as the mandated lead arranger.   

A US$3 million grant from the Climate Innovation and Development Fund (CIDF), administered by ADB will also be provided. The grant offered by the international commercial bank will help by addressing two critical hurdles in financing solar assets with a long economic life in the country, including the lack of long-term dong funding at a fixed interest rate, along with the potential volatility of the VND–US$ dollar exchange rate. 

“As Asia and the Pacific’s climate bank, ADB is increasingly focused on mobilizing private capital to finance renewable energy projects that the region urgently needs,” said Suzanne Gaboury, director general of Private Sector Operations for ADB.

 “Solar PV rooftop offers an efficient way for Vietnam to deploy substantial amounts of additional renewable energy capacity while providing reliable, low-cost energy to consumers, which helps to attract and retain business and enhance Vietnam’s global competitiveness,” she noted.

This represents ADB’s first time financing of a solar PV rooftop portfolio for the commercial and industrial segment in the nation. Rooftop solar panels are an emerging form of renewable energy supply in the nation, with its adoption in this sector being hindered by a high upfront costs coupled with limited financing channels. With a planned total installed capacity of up to 32.3 megawatts at its peak, this project is set to increase clean energy supply to the sector by at least 31.5 gigawatt-hours annually, reducing 15,530 tonnes of carbon dioxide emissions by 2025.

“Embedded within our core business is a profound commitment to development impact, and our collaboration with ADB uniquely aligns with our corporate mission toward innovative power distribution and driving energy transition," said Sebastien Prioux, chief executive officer of GreenYellow Vietnam .

“ADB’s instrumental role in fostering connections among like-minded partners is integral to our collective journey in actively advancing sustainable development,” he added.

CIDF is a blended finance facility managed by ADB, established in September, 2021, with an initial US$25 million philanthropic commitment from Bloomberg Philanthropies and Goldman Sachs. The fund has the potential to unlock up to US$500 million in private sector and government investments in support of sustainable low-carbon economic development. 

First established back in 2007, GreenYellow is a French energy transition partner, specialising in decentralised solar photovoltaic production, as well as energy efficiency, storage, and monitoring services. It currently operates in 16 countries across Asia, Africa, Europe, and South America, entering the Vietnamese market in 2019. GreenYellow is responsible for the development, funding, and operation of infrastructure projects, enabling its clients to produce local and competitive green power, reduce their energy consumption, and fast-track their decarbonisation.

ADB is therefore fully committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and Pacific region, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members, 49 of whom are from the region.

Chinese firm invests 500 million USD in tire production in Binh Phuoc

The Binh Phuoc People’s Committee on September 11 granted an investment registration certificate to China’s Shandong Haohua Tire Co. Ltd., allowing it to build a 500-million-USD tire manufacturing factory in the southern province.

This is the biggest ever foreign direct investment (FDI) project in Binh Phuoc.

The factory, located at Minh Hung SIKICO industrial park, is expected to be put into operation in the third quarter of 2025.

The Chinese company’s Chairman Wang Keqiang said that the factory will be capable of producing 14.4 million tire sets worth 770 million USD a year.

Once operational, it is expected to contribute to increasing the proportion of the local industrial sector and create jobs for over 1,600 workers.

Chairwoman of the provincial People’s Committee Tran Tue Hien said that the project will contribute to increasing rubber industry revenue of the province – home to Vietnam’s largest rubber tree growing area with over 240,000ha, promoting economic restructuring and raising people's income.

Binh Phuoc is committed to creating the most favourable conditions for the investor, she added.

In the first eight months of this year, Binh Phuoc attracted 26 FDI projects worth 710 million USD, 2.37 times higher than the yearly plan.

Vietnam completing procedures to export durian to India: Official

The Plant Protection Department under the Ministry of Agriculture and Rural Development (MARD) is completing procedures to facilitate the export of Vietnamese durian to India, said deputy director of the department Nguyen Thi Thu Huong.

According to the official, Vietnamese fresh durian is exported to 24 markets, and the frozen fruit to 23 markets. In the first eight months of this year, Vietnam exported over 300,000 tonnes of fresh durian.

According to the MARD, in the period under review, the export of fruit and vegetables reached 3.45 billion USD, an increase of 57.5% over the same period last year.

Export revenue from durian products alone was over 1.2 billion USD, accounting for 30% of the total turnover and nearly three times that of the whole of last year (420 million USD). The strong export growth in the second quarter of 2022 is a result of the signing of a protocol on plant quarantine requirements for fresh durian exports from Vietnam to China.

Currently, Vietnamese durian is exported mainly to China. Vietnam has 422 growing areas and 153 packaging facilities eligible to export the fruit to China.

Other 64 growing areas and 15 packaging facilities are completing procedures to have Chinese authorities to grant codes for the export. In addition, more than 600 growing area codes and 50 packaging facilities will apply for codes for the export of durian to China.

Vietnam, RoK cooperate to streamline customs procedures

The protocol amending the Vietnam - Republic of Korea (RoK) agreement on cooperation and mutual assistance in customs officially came into force on September 10.

The document, signed last December, will provide a legal basis for expanding customs clearance benefits such as streamlining procedures for Korean firms to export goods to Vietnam, according the RoK’s Ministry of Foreign Affairs.

Vietnam and the RoK signed the agreement on cooperation and mutual assistance in customs in 1995. In 2018, they agreed to consider amending this deal to reflect the changing trading environment and the upward trend in bilateral trade, and to boost support for exporters and importers.

An official of the RoK’s Foreign Ministry said the implementation of this protocol is expected to further fuel the recovery of trade with Vietnam, a large trade partner of the RoK, and enhance the competitiveness of Korean exporters and importers.

Petrol prices kept unchanged, oil prices up in latest adjustment

The retail prices of petrol have been kept unchanged in the latest adjustment on September 11 by the Ministry of Industry and Trade and the Ministry of Finance.

The ceiling price of E5 RON 92 petrol was kept at 23,471 VND (0.97USD), and that of RON 95 at 24,871 VND per litre.

Meanwhile, the price of 0.05S diesel oil was capped at 23,055 VND per litre, up 410 VND per litre from the previous adjustment, and the ceiling kerosene price, up 374 VND to 23,188 VND per litre.

Since the beginning of this year, petrol prices have undergone 26 adjustments, with 15 times up, seven down, and four unchanged.

Investment projects help tighten Vietnam-Laos relations

Over the past years, Laos has always attracted the most foreign direct investment (FDI) from Vietnamese enterprises and these projects have made important contribution to enhancing the two countries’ special relations, according to Lao officials.

Lao Minister of Planning and Investment Khamjane Vongphosy, who is also Chairman of the Laos - Vietnam Cooperation Committee, said that in addition to geographical advantages, the main reason is because Laos and Vietnam have time-tested great friendship, special solidarity, and comprehensive cooperation.

Vietnamese businesses’ investment in not only urban delta areas but also remote areas with many difficulties in Laos is not only for pure profit purposes but also for good political relations between the two countries, he added.

Somboun Heuangvongxa, Vice Governor of Champasak province, said Vietnamese investors not only do well in business and tax obligations but also show that they are very responsible investors.

Besides well protecting the environment in accordance with the signed contracts, they are the best performers in social welfare work, recognised not only by all-level inspection agencies, but also senior leaders of Laos, he said.

Star Telecom (Unitel) - a subsidiary of the joint venture between Lao-Asia Telecom Company and Vietnam's Viettel Group – is a notable example, as 14 years after its operation launched, the company is the biggest telecom service provider and one of the largest budget contributors in Laos, and creating jobs for over 27,000 employees.

Vietjet, US’s Carlyle sign MoU for aircraft funding

Vietjet and the US-based leading aviation finance and asset management company - Carlyle Group - on September 11 signed a Memorandum of Understanding (MoU) for aircraft funding worth 550 million USD on the occasion of the State visit to Vietnam by US President Joe Biden.

Under the MoU, Carlyle Aviation Partners, a wholly own member of the Carlyle Group, will finance the 737 Max aircraft from the order of 200 aircraft between Vietjet and Boeing. 

This is a significant aircraft order and considered one of the largest commercial contracts and contributes greatly to the trade balance between Vietnam and the United States to date, according to Vietjet.

Robert Korn, Co-Founder & President of Carlyle Aviation Partners said that Carlyle Aviation Partners has been a long-term strategic partner of Vietjet.

He said the group is pleased to accompany and witness Vietjet’s significant growth over the last decade. The airline has offered passengers reasonable fares and convenient travel options; thus contributing positively to the aviation and tourism development; also fostering investment between Vietnam and the international community.

On the occasion, Vietjet and Boeing agreed on the delivery timeline of the first batch of Vietjet’s 200 B737 Max order. This order, which is worth over 25 billion USD, will be implemented in five years with the first delivery of 12 aircraft scheduled for 2024.

Accordingly, the first batch of 737 Max will be delivered to Thai Vietjet, the affiliate company founded by Vietjet. Thai Vietjet is currently one of the leading airlines in Thailand, featuring Vietjet’s brand and images and favoured by travellers in the region.

Minister vows support for US, Vietnamese firms in high-tech economy

Minister of Planning and Investment Nguyen Chi Dung has pledged to join other ministries, sectors, and localities to provide optimal conditions for US and Vietnamese enterprises to successfully make investment and do business, thus helping generate sustainable values and boost connections for common interests to secure prosperity for both countries.

So said the official while reporting on the outcomes of the high-level conference between the US and Vietnam on investment and innovation held in Hanoi on September 11.

The event, attended by Vietnamese Prime Minister Pham Minh Chinh and US President Joseph Robinette Biden Jr., was co-chaired by Dung and US Secretary of State Antony Blinken. It saw the presence of 14 outstanding firms from both countries and formed part of the US leader’s State visit to Vietnam.

Minister Dung said Vietnam’s direction for the time ahead is to selectively attract investment to develop a digital economy, green economy, circular economy, and a knowledge-based economy. Priority is given to high technology, electronics, the semi-conductor industry, innovation, renewable energy, new energy (hydrogen), financial centre development, modern trade in services, infrastructure development, and research and development.

These are also the fields the US is strong in, he noted, adding that the two countries are complementary to each other in these areas.

At the conference, Dung said, he asked US enterprises to keep making new and expanding investments in Vietnam and assist local firms to engage in supply chains.

He suggested semiconductor manufacturers like Intel, Amkor, Marvell and Global Foundries and the US Semiconductor Industry Association develop a semiconductor ecosystem, and coordinate with his ministry’s National Innovation Centre to build training and R&D centres to design chips and semiconductors in Vietnam.

He called on Boeing to develop a component production ecosystem and set up a regional-level maintenance centre for aviation equipment and aircraft in the country.

In addition, the minister also asked financial institutions and investment funds of the US to help provide concessional credit and finance for green areas like renewable and hydrogen energy development in Vietnam, help the country develop regional and international-level financial centres, and promote bilateral trade.

Meanwhile, he recommended Vietnamese firms proactively learn experience, acquire and apply technology, improve their governance capacity, and accumulate capital in order to become able to join global value chains and cooperation activities that generate higher value, Dung reported.

Vietnam wants to join in consumer goods supply chain: Deputy PM

Deputy Prime Minister Tran Hong Ha on September 12 said that Vietnam wants to join world-leading retailers like Walmart in forming comprehensive inclusive sustainable ecosystems with long-term commitment to benefit sharing in the consumer goods supply chain.

Speaking at a reception with senior vice president of general merchandise and apparel sourcing of the US’s Walmart Avaneesh Gupta in Hanoi, Ha said Vietnam has strengths in workforces, infrastructure, and socio-political stability, and has become one of the leading consumer goods producers and exporters in the world.

He affirmed that Vietnamese manufacturers and suppliers have the potential and capacity to participate in the entire goods production process from raw material supply, product design and production to marketing.

The Deputy PM noted that with its participation in 17 free trade agreements, Vietnam fully complies with commitments on labour and environment.  

Regarding the strong development of e-commerce in Vietnam, he said the Vietnamese Government is continuing to direct ministries and branches to develop regulations and standards to ensure the safety and rights of customers. 

Avaneesh Gupta said that Vietnam’s support policies have created favourable conditions for Walmart to form and operate smoothly production and supply chains of goods such as textiles and garments, consumer goods, and food.

He said the group will continue supporting Vietnamese manufacturers and suppliers in creating domestic raw material areas with appropriate quality and costs, promoting digitalisation in production to improve productivity, ensure working conditions for workers, and enhance the traceability of goods origin.

In addition, Walmart wants to connect with and attract Vietnamese small and medium-sized businesses to participate in the group's e-commerce network with about 120 million users.

Thai Binh seeks trade-investment partnership with Australian firms

The Vietnam-Australia trade and investment promotion forum and a conference promoting trade and investment in Vietnam's northern province of Thai Binh took place in Sydney on September 11, aiming to facilitate direct contact and exchange of cooperation, business, and investment opportunities between Vietnamese and Australian government agencies, organisations, and firms.

Organised by the Vietnam Trade Promotion Agency, Thai Binh authorities, and the Vietnamese Consulate General and Trade Office in Australia, the event attracted nearly 80 representatives from Australian and Vietnamese enterprises and investors.

In his speech, Consul General Nguyen Dang Thang affirmed that the relationship between the nations is at an excellent stage, with trade being a bright spot. The cooperation between their localities is also developing well on the basis of implementing the Vietnam-Australia economic cooperation enhancement strategy.

Nguyen Quang Hung, Vice Chairman of the Thai Binh People's Committee, stated that the province is actively attracting foreign investment. Thai Binh welcomes Australian enterprises for effective investment, production, and business development, as the province has great confidence in and highly values their investment potential, scientific and technological capacity, and effective performance.

He vowed to accompany and create favourable conditions for Australian investors and enterprises in all aspects, including policy mechanisms, legal investment procedures, entry, investment, business climate, and more.

Speaking at the event, Joanna Kubota, Executive Director at The Parks, Sydney's Parkland Councils, noted that there are similarities between Thai Binh and regions under the councils, such as a focus on construction, agriculture, and infrastructure development. Therefore, both sides have many opportunities to exchange, cooperate, and learn from each other's experiences.

Speaking to the Vietnam News Agency correspondents in Sydney on the sidelines of the event, Kubota emphasised that the potential for cooperation between Thai Binh and Australian localities is enormous, given the sound development of the Vietnam-Australia relationship.

Meanwhile, Luke Magee, President of the Parramatta Chamber of Commerce, committed to helping businesses in Parramatta city in particular and Australia in general gain a better understanding of potential cooperation chances with those from Thai Binh and Vietnam, especially regarding the high-tech, manufacturing, and biotechnology industries, among others.

While in Australia, the Thai Binh trade promotion delegation had working sessions with representatives of Australian enterprises, organisations, and economic associations, who expressed their desire to expand cooperation with the province and Vietnam, on various fronts, such as trade, high-tech agriculture, industry, construction, and other priority areas of mutual interest.

Vietnam, Japan cooperate toward green growth

Vietnam News, the English language daily newspaper under the Vietnam News Agency, and the Ministry of Agriculture and Rural Development (MARD) jointly organise a seminar themed "Vietnam-Japan cooperation toward green growth" in Hanoi on September 12 on the occasion of the 50th anniversary of the establishment of diplomatic relations between the two countries.

Attending the seminar are delegations from various Vietnamese ministries and sectors such as the Ministry of Planning and Investment (MPI), the Ministry of Foreign Affairs, the Ministry of Industry and Trade (MoIT); representatives from the Vietnamese Embassy in Japan, the Japanese Embassy in Vietnam, the Japan International Cooperation Agency (JICA), the Japan External Trade Organisation (JETRO); leaders of several provinces and cities in Vietnam, along with experts and businesses from both countries.

The event is a chance for the participants to share perspectives on green growth, opportunities and challenges in realising Vietnam's Green Growth Strategy for the 2021-2030 period and the vision for 2050, the significance of Japan's support for green growth in the Southeast Asian country, as well as suggest and recommend solutions to help implement the strategy. The seminar also serves as a platform for experience sharing and idea exchanges.

Speaking at the seminar, Pham Quang Hieu, Ambassador of Vietnam in Japan, said Vietnam-Japan bilateral relationship is at its height in the history of the two nations, deserving of an extended strategic partnership built on sincerity, trust and mutual support.

"In the medium and long term toward the goals of 2030-2050, both countries have significant potential for further cooperation in green technology, energy transition and bilateral research collaboration in applying Japanese technology that aligns with Vietnam’s needs and transition roadmap,” he said.

 General Director of the Vietnam News Agency (VNA) Vu Viet Trang (first, right) and VNA Deputy Director General Doan Thi Tuyet Nhung (centre) attend the event. (Photo: VNA)
Director-general of the Vietnam News Agency Vu Viet Trang said through the seminar, she believes that Japanese organisations and enterprises will gain a better understanding of Vietnam's green growth policy priorities and strategies, both at the national and local levels, opening up new opportunities for cooperation in areas where both sides have potential and strengths.

As of August 2023, Japan has 5,168 active projects with a total registered investment capital of over 71 billion USD. Japan currently ranks third among 143 countries and territories investing in Vietnam.

The Japan External Trade Organisation (JETRO) in Vietnam emphasises that focusing on green growth is crucial for addressing pressing issues in Vietnam, including water quality, air pollution, waste management, recycling, energy efficiency and carbon emissions. JETRO advises the Vietnamese Government to implement stricter environmental regulations, expand manufacturers' environmental responsibilities and accelerate the transition to renewable energy sources.

Meanwhile, the Japan International Cooperation Agency (JICA) reaffirms its close collaboration with the Ministry of Natural Resources and Environment to enhance Vietnam's capacity for carbon emission reduction, focusing on water resource management; and partnership with agriculture companies in improving living conditions and deploying modern technologies to mitigate the impacts of climate change and natural disasters. 

State budget revenue tops 70% of year's estimate in eight months

The total State budget revenue in the first eight months of this year topped 962 trillion VND (nearly 40 billion USD), equivalent to 70.1% of the estimate for the whole of this year and 93.9% compared to the figure in the same period last year, the General Department of Taxation reported on September 11.

Out of the 20 receipts and taxes, 14 achieved a relatively high level of collection (over 68%), while others had lower revenue, including environmental protection tax which was equivalent to 67.7% of the same period last year, land use fee 42.3%, and land and water surface lease fee 61.1%.

According to the agency, 27 out of the 63 provinces and centrally-run cities recorded a high level of budget revenue (above 68%).

General Director of the General Department of Taxation Mai Xuan Thanh said the agency will continue to focus on harmonious, effective, and timely solutions in the remainder of the year in order to remove difficulties, thus promoting growth and socio-economic development.

It will also implement various policies such as tax exemption, reduction and extension, and expediting value-added tax refunds for businesses in line with legal regulations, and effectively carry out policy communication work, he added.

Vietnam attends Russia-ASEAN dialogue at EEF 2023

A Vietnamese delegation led by Deputy Minister of Planning and Investment Do Thanh Trung on September 11 attended a dialogue between ASEAN and Russia within the framework of the Eastern Economic Forum that is taking place in Russia's Far East city of Vladivostok from September 10-14.

The event saw the participation of officials, and scholars from Russia and ASEAN countries.

The year 2023 marks the 5th anniversary of the strategic partnership between Russia and ASEAN. During the transformation of the current global economic system, Russia is especially interested in creating additional incentives to strengthen and diversify trade and economic cooperation with ASEAN. Priorities include ensuring food and energy security, circular economy, environmental issues, economic digitalisation, smart city development, and strengthening cooperation in science and education.

Speaking at the event, President of the Russian Chamber of Commerce and Industry Sergey Katyrin said that Russia and ASEAN have a lot of potential for cooperation.

Russian speakers also emphasised digital transformation, smart cities, advanced technology, and tourism are areas with strong growth prospects between Russia and ASEAN.

However, there remain limitations such as international payment issues, transportation, and sanctions against Russia.

Dr. Alexander Korolev, an ASEAN expert at the Higher School of Economics (HSE), said that amid current competition, Russia must introduce new formats and products to access the ASEAN market.

According to Dr. Korolev, Vietnam is an important country in ASEAN because only Vietnam has established a comprehensive strategic partnership with Russia.

He also said that artificial intelligence and high technology are areas that can become a driving force for cooperation between Russia and ASEAN, especially e-commerce, agreements on e-commerce, and platforms.

For his part, Deputy Minister of Planning and Investment of Vietnam Do Thanh Trung, said that the EEF focuses on current general development trends of countries around the world, including Vietnam.

Russia also introduced the great potential of the Far East region to ASEAN countries. The region now has a huge demand for developing strategic infrastructure such as seaport systems, traffic, housing, and transportation systems.

Regarding potential for tourism development between Russia and ASEAN, delegates mentioned the reopening of direct flights between Russia and Myanmar after 30 years.

The Vietnamese official said few Vietnamese tourists have explored the Far East region, which can be seen as an opportunity not only for Vietnamese tourists but also for its tourism businesses to develop their products in the area, especially when travel between Vietnam and the Far East becomes convenient.

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes