Deputy PM meets Vietnam-ASEAN Association for Economic Cooperation Development delegation
Deputy Prime Minister and Foreign Minister Pham Binh Minh hosted a reception for a delegation of the Vietnam-ASEAN Association for Economic Cooperation Development in Hanoi on October 5.
Deputy Prime Minister and Foreign Minister Pham Binh Minh hosts a reception for a delegation of the Vietnam-ASEAN Association for Economic Cooperation Development in Hanoi on October 5. (Photo: VNA)
Hanoi (VNA) – Deputy Prime Minister and ForeignMinister Pham Binh Minh hosted a reception for a delegation of the Vietnam-ASEANAssociation for Economic Cooperation Development in Hanoi on October 5.
Also present at the meeting were representatives from 85domestic enterprises and investors from ASEAN member states, Japan, theRepublic of Korea, and India who were seeking the government’s continuedreduction of corporate income and value added taxes, and land rents in 2020and 2021.
They wanted the Vietnamese Government to support them inseizing opportunities from the global manufacturing shift and coming up withproper personnel plans and business strategies.
They also expected the Government to tighten intellectualproperty management and accelerate disbursement of business support packages asnew-generation free trade agreements, notably the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CPTPP) and EU-Vietnam Free TradeAgreement (EVFTA), have entered into force in Vietnam.
Speaking at the event, Minh highlightedefforts by the Government in fighting the unprecedented COVID-19 pandemic andhelping enterprises weather the crisis.
He outlined the non-agricultural land use tax reduction andexemption and corporate income tax waiver in 2020 and the deferral of taxes andland use fees as examples of supports provided by the Government to aid thoseaffected by COVID-19.
The Government has also worked hard to accelerate publicadministrative reforms and create a better business climate, reflected by thecut of over 3,800 business conditions and more than 6,700 goods required specialisedinspections, he said.
He expected the association and its business members to pay more attention to ASEANmarkets.
According to him, total trade between Vietnam and ASEANreached 57 billion USD last year, 10 times the figure 25 years ago and 11 percent of the country’s total foreign trade. By the end ofJuly 2020, FDI flows from investors from ASEAN countries into Vietnam neared nearly82 billion USD, representing 21.6 percent of the total FDI injection.
He also asked enterprises to proactively make the most ofopportunities and overcome challenges from the FTAs./.
The industry and trade sector is exerting all-out efforts to achieve the target of 300 billion USD in export turnover this year in the context that the COVID-19 pandemic is seriously affecting global trade.
The northern coastal province of Quang Ninh targets double-digit growth in the gross regional domestic product (GRDP), and State budget collection of a 48 trillion VND (approximately 2 billion USD) in 2020, according to Secretary of the provincial Party Committee Nguyen Xuan Ky.
Hanoi has attracted around 25 billion USD in foreign direct investment (FDI) over the last five years, with priority given to quality and sustainable development, figures show.
Vietnam’s aviation sector has served an increasing number of passengers following the resumption of domestic flights and certain international air routes disrupted by COVID-19.
With participation from major players representing countries such as Russia, China, Japan, India, Thailand, and Indonesia, Vietbuild 2025 is expected to present a wide range of environmentally friendly and innovative products and services, especially building materials, machinery, and interior and exterior decoration.
Bulgaria holds strengths in sectors that align well with Vietnam’s development focus, including information technology, software, electronics, energy and the environment, startups and innovation, agriculture and food processing, logistics, and freight services.
Vietnam Airlines is pursuing an Environmental, Social, and Governance (ESG) roadmap to reduce emissions, improve fuel efficiency, and adopt sustainable aviation fuels. It is also investing in workforce development, corporate culture, and international management practices.
Thailand's largest retailer, Central Retail Corporation (CRC), will invest over 45 billion THB (1.38 billion USD) through 2027 to expand mainstream markets and accelerate growth across Southeast Asia, including Thailand and Vietnam.
Vietnam ranks among Asia’s top producers and exporters of denim, with hundreds of factories producing denim fabric and garments. Vietnamese denim products are now exported to over 70 countries.
In 2024, durian was a leading export among Vietnam’s fruits and vegetables, earning a record of 3.3 billion USD and accounting for 46% of the sector’s total export value. China was the largest market, importing 3.2 billion USD worth of durians, or 97% of the total.
The arrival of this first wind power equipment shipment signalled the Trung Nam Ca Na seaport’s infrastructure readiness and its entry into a new phase of development, aligned with Vietnam’s adjusted National Power Development Plan VIII.
PM Pham Minh Chinh has called on global tech giants to bolster cooperation with Vietnam to assist with the country's efforts to drive a startup and innovation ecosystem.
Prime Minister Pham Minh Chinh had meetings with leaders from multinational corporations on June 25, advancing Vietnam’s infrastructure development as well as food processing sector, on the sideslines of the 16th Annual Meeting of the New Champions of the World Economic Forum (WEF) in Tianjin city.
According to UOB, following the US’s announcement of reciprocal tariffs of 46% on Vietnamese goods on April 2, around 80% of Vietnamese businesses have proactively taken measures to respond to potential impacts.
As one of the most prestigious annual international events in the industry, the expo serves as a prime platform for enterprises to connect, exchange valuable experience, and explore reliable collaboration opportunities with both domestic and international companies.
Organised by the Vietnamese Embassy and Trade Office, Vietnam's national booth showcases catalogues and product samples from over 30 Vietnamese companies, spanning key sectors such as agriculture, seafood, food and beverages, footwear, textiles, furniture, plastics, construction materials, and industrial machinery.
The pangasius industry is one of the country’s key foreign currency earners, with an annual export value of around 2 billion USD, accounting for 20% of Vietnam’s total seafood exports. The US remains one of the largest and most strategic markets for Vietnamese pangasius.
A Government Office notice on the Deputy PM’s conclusions at a recent meeting to review construction progress of the plants stressed that accelerating the development of power sources is essential and urgent to ensure energy security and meet the demands of two-digit socio-economic growth in the coming period.
It featured four discussions on key issues such as the Vietnam- Switzerland comprehensive partnership, Vietnam’s international financial centre, digital transformation and innovation, and global human resources and expansion of markets.
Deputy Prime Minister and Foreign Minister Pham Binh Minh hosts a reception for a delegation of the Vietnam-ASEAN Association for Economic Cooperation Development in Hanoi on October 5. (Photo: VNA)
