December 11-17: Import-export turnover reaches US$400 billion milestone

Monday, 2017-12-25 03:31:10
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Vietnam's trade value up fourfold since 2007.
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NDO – Following are several notable events that have made the headlines over the past week introduced by Nhan Dan Online.

Vietnam’s import-export turnover hits US$400 billion

The General Department of Customs on December 19 announced that Vietnam’s total import-export turnover reached US$400 billion in mid-December, doubling the amount of six years ago.

According to statistics released by the department, the foreign trade value of Vietnam, as well as the scale of the economy, has significantly improved. Specifically, on December 1, 2007, trade value had reached US$100 billion for the first time, while the scale of the economy was at US$77.4 billion. At present, this figure has reached US$400 billion and the scale of the economy has reached US$200 billion. As such, in the ten years from 2007 to 2017, Vietnam’s trade value has increased fourfold.

Vietnam’s import-export value was US$385.77 billion in the first 11 months of 2017, soaring by US$67.93 billion from 2016, the highest annual increase to date. During the period, the country posted the highest-ever trade surplus of US$3.17 billion.

Senior Lao leader pays official visit to Vietnam

Lao Party General Secretary and President Bounnhang Vorachith (L) and Vietnamese Party General Secretary Nguyen Phu Trong. (Credit: NDO)

General Secretary of the Lao People’s Revolutionary Party (LPRP) and President of Laos Bounnhang Vorachith and the high-ranking Lao delegation paid their official friendly visit to Vietnam from December 19-21.

During his stay in Vietnam, the Lao leader held talks with General Secretary of the Communist Party of Vietnam Nguyen Phu Trong and held a meeting with President Tran Dai Quang before announcing the end of the Vietnam-Laos Friendship and Solidarity Year 2017. He also met the, Prime Minister Nguyen Xuan Phuc, National Assembly Chairwoman Nguyen Thi Kim Ngan, and visited some former Party and State leaders of Vietnam.

At the meetings, the two sides pledged to inherit and promote the tradition of protecting and developing the special solidarity and comprehensive cooperation between the two Parties, States and people, considering it as a matter of vital importance to the future of the two nations.

They agreed on the orientations and measures needed to continue boosting their bilateral relations and to work closely together to effectively implement the agreements between the two countries. The will maintain regular meetings between Party and State leaders, while enhancing the effectiveness of bilateral cooperation mechanisms and expanding partnerships, as well as fostering relations between ministries, organisations and localities of both sides.

They agreed to improve the effectiveness of their cooperation in economy, investment, trade, culture, education and training, health care and science-technology, as well as defence and security, while supporting the citizens of each other’s country. The two countries will also coordinate closely at regional and international forums.

President of Moroccan House of Representatives concludes Vietnam visit

President of the Moroccan House of Representatives Habib El Malki and Vietnamese NA Chairwoman Nguyen Thi Kim Ngan. (Credit: VOV)

President of the Moroccan House of Representatives Habib El Malki concluded his Vietnam visit from December 16-22, made at the invitation of National Assembly Chairwoman Nguyen Thi Kim Ngan.

During his stay, Malki held talks with the senior Vietnamese legislator, signed a cooperation agreement between the Vietnamese NA and the Moroccan House of Representatives, and met President Tran Dai Quang, Prime Minister Nguyen Xuan Phuc and Chairwoman of the Ho Chi Minh City People’s Council Nguyen Thi Quyet Tam.

During their meetings, both sides agreed to promote connectivity between the two countries’ businesses, especially business associations in promising fields, such as trade, tourism, finance and renewable energy, towards establishing a Joint Business Council.

They will also step up their bilateral investment promotion activities and facilitate visits by firms in order to attend international seminars, forums and fairs, especially in the fields of agriculture, mining, construction materials, chemicals, garments, footwear and food processing.

The two sides vowed to increase exchanges of high-level visits and continue upholding close links in regional and global forums, particularly within the framework of the United Nations, Francophone and the Non-Aligned Movement.

CLV Development Triangle Area meeting ends with success

The 11th meeting of the CLV Development Triangle Area takes place in Binh Phuoc from December 16-19. (Credit: VNA)

The 11th meeting of the Joint Coordination Committee on Cambodia-Laos-Vietnam (CLV) Development Triangle Area was declared a success in Vietnam’s southern Binh Phuoc on December 19.

The event was co-chaired by the Vietnamese Minister of Planning and Investment Nguyen Chi Dung, Cambodian Minister of Commerce Pan Sorasak and Lao Minister of Planning and Investment Souphan Keomisay.

The ministers approved recommendations submitted by the Senior Officials Meeting (SOM) of the CLV Development Triangle Area, and noted with satisfaction the implementation of the adjusted master plan on regional socio-economic development during 2010-2020, and the amended memorandum of understanding on special incentives in the area reached by the three countries.

They called for stronger CLV cooperation in such areas as security and external affairs, economy, trade, investment, tourism, culture, education, environment, telecommunications, and information and communications technology (ICT).

Vietnam's top listed firms for 2017 announced

Vietnam Report Company (VNR) announced the top ten most prestigious listed companies for 2017, on December 19.

The company stated that the top ten enterprises had good business results and image management. Its survey of the top prestigious listed companies showed that Vietnam’s stock market saw strong growth in the VN Index this year -- from 665 to 926 points.

The capitalisation value was equal to 65% of Vietnam’s gross domestic product in 2017, an increase from 35% in 2016. Liquidity was also double that of last year, while foreign investors were active in net buying with total indirect investment rising by 47% from the beginning of this year.

ADB helps improve connectivity and living standards in northeastern Vietnam

The Asian Development Bank’s (ADB) this week approved a US$150 million loan to help improve economic connectivity and raise living standards in four of Vietnam’s northeastern provinces by enhancing basic infrastructure and services.

The assistance is expected to help over 212,000 people in Bac Kan, Cao Bang, Ha Giang, and Lang Son provinces. The total cost of the project is US$190.3 million, with Vietnamese government contributing a total of US$40.3 million. The project is expected to be completed by the first quarter of 2023.

It will help realise the great growth and development potential of the northeastern part of Vietnam, particularly concerning trade, agriculture, and tourism.

Specifically, the project will improve road connectivity among the provinces by upgrading about 121 km of provincial and 144 km of district roads, provide rural water supply, and improve the agriculture value chain infrastructure in Lang Son province through farm-to-market connectivity and support to local businesses.

Christmas greetings to religious communities

National Assembly Chairwoman Nguyen Thi Kim Ngan visits Thanh Hoa diocese ahead of the Christmas and New Year holidays.

Over the past week, senior leaders and local authorities visited and extended Christmas greetings to Catholic and Protestant dignitaries and followers in localities across the nation.

Praising the contributions of religious communities to the nation’s socio-economic development and national defence in 2017, leaders expressed their hope that the local Catholic and Protestant dignitaries as well as followers would continue promoting solidarity and contributing further to the nation’s development.

Sixty-five new species discovered in Vietnamese forests

The new mole species, called Euroscaptor orlovi, is one of two mole types found in Vietnam.

The World Wildlife Fund on December 19 announced that scientists have discovered 115 new exotic species in the Greater Mekong region, in which 65 species have been found in Vietnam.

Among them, a vibrantly coloured frog (Odorrana Mutschmanni) is among the five new species discovered in the same karst forest in Northern Vietnam. Two moles (Euroscaptor orlovi and Euroscaptor kuznetsovi) were also discovered in a network of streams and rivers in the region. There is also a medium-size Vietnamese crocodile lizard (Shinisaurus crocodilurus vietnamensis), which lives in the freshwater and forest habitats of northern Vietnam and south China.

The recent discoveries increase the total number of species found in the area, including plants, birds, mammals, reptiles, fish and amphibians up to 2,524 species during the years 1997 through 2016.