Vietnam has highly valued the WEF’s role in the world and Vietnam, and stayed ready to promote ties with the forum. These railways, when completed, will open economic corridors linking Vietnam to Central Asia, and even Europe via China, shortening the distance between Vietnam and Central Asia and turning the northern border provinces of Vietnam into a gateway to the north. Vietnam, Japan hold environmental policy dialogueThe eighth Vietnam - Japan environmental policy dialogue was held on January 12 in a hybrid format. To date, more than 40 projects related to the mechanism have been carried out in Vietnam, helping Vietnam raise its capacity to implement Article 6 of the Paris Agreement while promoting the process of reducing greenhouse gas emissions. The State Bank of Vietnam estimated that the total amount of remittances to Vietnam in 2023 increased 25-30% year on year.

During a working session with the ministry's units on Thursday, Minister Diên underscored the significance of developing the Key Industrial Law to establish an independent, self-reliant, and resilient industrial base. The project on the Key Industrial Law is currently under research and development to promote the development of foundational and strategic industries. In addition to constructing the Key Industrial Law, the continuous improvement of development strategies for priority industries is crucial. Three policy proposalsThe MoIT is currently developing the Key Industrial Law, which encompasses three policies. First, it focuses on creating and implementing the National Programme for Industrial Development to overcome past shortcomings in strategic planning.

Prime Minister Pham Minh Chinh and Indonesian President Joko Widodo co-chaired a high-level business dialogue in Hanoi on January 13 morning as part of the latter’s state visit to Vietnam.At their meeting one day earlier, the two leaders shared the view that economic and trade ties remain a bright spot in bilateral relations, with two-way trade reaching 13 billion USD in the first 11 months of 2023, and expected to soon hit 15 billion USD, and even 18 billion USD by 2028.At the dialogue, President Widodo suggested the two countries step up dialogues and high-quality cooperation to realise their common vision of becoming high-income nations by 2045.Indonesia has opened a carbon trading exchange and is promoting the e-vehicle industry, the President said, expressing his hope that leading Vietnamese businesses will increase their investment in the country, especially in its new capital city, covering such spheres as the e-vehicle industry, aviation, tourism, real estate, science-technology, banking, finance, education, and manufacturing. For his part, PM Chinh held that President Widodo’s visit and his opinions delivered at the dialogue will encourage enterprises to step up their cooperation and investment.Pointing out that economic cooperation has yet to match the bilateral political ties as well as the two economies’ stature and the two sides' expectations, the PM called on businesses to continue their connectivity and investment in order to materialise high-level agreements between the two countries and fulfill their set targets.He appreciated Indonesian investors in Vietnam, with many projects running successfully, noting the country is attracting investment in emerging sectors like digital economy, green economy, circular economy, knowledge-based economy and sharing economy, along with the halal industry and agriculture.The PM also expressed his hope that Indonesian businesses will support their Vietnamese counterparts to join supply chains in Indonesia and the world as well.Vietnam always creates optimal conditions for enterprises, including those from Indonesia, to operate stably, sustainably and successfully in the country, he affirmed.Earlier the same day, the two leaders exchanged views on issues of shared concern during their working breakfast./.

Vietnam successfully sells 10.3 million forest carbon credits (10.3 million tonnes of CO2) in 2023. The remaining 10.3 million USD will be paid after the transfer of 10.3 million tonnes of CO2 is completed. The Vietnam Forest Protection and Development Fund has received and disbursed all the first payment so that six north central provinces can urgently make payment plans for forest owners. According to the Vietnam Administration of Forestry, the country planted about 250,000 hectares of forest last year, surpassing the yearly plan by 2%. Total revenue from all forest environment services reached more than 4.1 trillion VND (169 million USD)./.

President Vo Van Thuong (second row, fifth from right) and his Indonesia n counterpart Joko Widodo (third from left) in a joint photo with athletes and artists at the programme in Hanoi on January 12 (Photo: VNA)A performance of Pencak Silat at the event (Photo: VNA)– President Vo Van Thuong and his Indonesian counterpart Joko Widodo watched a martial arts and musical programme performed by athletes, soldiers, and artists of the Vietnam People’s Army in Hanoi on January 12.The event, part of a state visit to Vietnam by the Indonesian leader, featured performances of Pencak Silat, a traditional martial art of the archipelago nation.Pencak Silat entered Vietnam in 1989 and has become one of the strengths of Vietnam at major sports tournaments in Southeast Asia and the world.Traditional martial arts of Vietnam were also performed in the presence of the two Presidents and senior officials.Participants also enjoyed performances of traditional songs and dances of the two countries.Earlier the same day, President Thuong hosted a welcome ceremony for and held talks with President Widodo./.

Deputy Prime Minister Tran Luu Quang (R) receives Chief Minister of India’s Gujarat state Bhupendra Patel (Photo: VNA)– Deputy Prime Minister Tran Luu Quang on January 11 received Chief Minister of India ’s Gujarat state Bhupendra Patel, on the occasion of his attendance at the 10th Vibrant Gujarat Global Summit held from January 9-12.Quang stressed that cooperation opportunities between Vietnam and Gujarat are being opened up, especially since the launch of direct flights between the state and Vietnam’s two major cities of Ho Chi Minh City and Hanoi in November 2022, with a frequency of 14 flights a week; and as many Gujarat -based corporations plan to invest in the Southeast Asian country.He proposed the chief minister continue paying attention to boosting the two sides’ cooperation, including stepping up delegation exchanges, increasing the efficiency of economic, trade and investment ties, speeding up negotiations to raise flight frequency, and strengthening collaboration between the two countries’ localities.Bhupendra Patel expressed heed to information shared by Quang about the Vietnamese situation, particularly its mechanisms and policies to create favourable conditions for foreign investors, including those from India, in the fields it has needs such as energy, infrastructure, seaport, oil and gas, innovation, green economy, and digital transformation.According to him, there is huge potential for cooperation and investment for Vietnamese businesses in Gujarat, as the state is located in an important geographical location in the Asian - Middle East – European infrastructure connectivity.Quang took the occasion to invite Bhupendra Patel to visit Vietnam to seek collaboration potential and opportunities, and the latter accepted the invitation./.

Under the current tax regime, fertilizers are categorized as non-taxable, which means businesses in this sector cannot declare or offset input VAT. Foreign fertilizer sellers can recover their input VAT, potentially allowing them to offer lower selling prices and gain a competitive advantage. Meanwhile, the Government may miss out on VAT revenue at the import stage, where import taxes are generally low or even zero. Both domestic fertilizer manufacturers and the Ministry of Industry and Trade have jointly recommended reclassifying fertilizers into the 5% VAT category. Fertilizers in Thailand, Laos, Myanmar, the Philippines, Pakistan, and the United States are exempt from VAT.

When the daughter was three years old and still could not speak Vietnamese fluently, Thi sent the girl to an English class. In addition, Thi also registered an English class for the girl at her preschool, and paid tuition of VND700,000 a month. Thang believes that it would be better for the girl to practice Vietnamese first before sending her to English classes. Le Huyen in district 3, HCM City, has enrolled her 10 year old in three English classes. As the boy has many English lessons, he has to attend classes on weekends as well.

The forecast is highlighted in the bank’s global research report on Vietnam, which was recently published with the title “Vietnam – stronger but not easier”. The report cited Tim Leelahaphan, Economist for Thailand and Vietnam, Standard Chartered, as saying that, Vietnam continues to offer a promising medium-term outlook. To maintain rapid growth and competitiveness, the country needs to upgrade infrastructure and prepare to lower carbon emissions, he suggested. Given re-emerging inflation concerns, inflation is anticipated to pick up to 5.5% in 2024 from 3.3% in 2023. Forex reserves are forecasted to be rebuilt when US dollar strength abates, the Standard Chartered economist noted./.

HÀ NỘI — Việt Nam's domestic insurance market managed to pull through a difficult time in 2023 but it will take time for the market to rebuild trust among consumers, according to policymakers and industry insiders. Since the crisis, regulatory agencies and insurance companies have taken measures to reassess the situation, considering it an opportunity to cleanse and readjust the market after a period of rapid growth. Solutions have been proposed by the ministry and its sub-department overseeing the industry, the Insurance Management and Supervision Bureau, to enhance market transparency and safeguard the rights of insurance participants. Under the 2022 Insurance Business Law, businesses will have to publicly disclose information such as decisions on penalties for violations in insurance business activities, court judgments and decisions regarding the company's insurance activities, and decisions to prosecute companies, managers, and controllers of insurance companies. The ministry has stated that it will continue to direct the improvement of insurance business laws, enhance management, supervision, inspection, and checks, and increase communication to disseminate information about insurance contract laws.

The conference, held by the Party Central Committee’s Commission for Internal Affairs, was connected with 63 provinces and cities across the country. President Nyusi affirmed Mozambique’s policy of highly valuing the traditional friendship with Vietnam, and said he would soon arrange an official visit to Vietnam in 2024. He at the same time proposed that Vietnamese businesses directly exploit and process minerals in Mozambique for export to Vietnam. At the reception, Vice Chairman of the provincial People's Committee Nguyen Van Liet wished that the fine neighbourliness, traditional friendship, comprehensive, sustainable and long-term cooperation between Vietnam and Cambodia will keep growing. Overseas Vietnamese are a very important bridge in the friendship between Vietnam and other countries, stressed the official.

HÀ NỘI — It is anticipated that there will be significant changes in the scale of the banking sector's charter capital this year as several joint-stock commercial banks have announced their plans to raise capital. NCB on January 2 said that the SBV allowed it to increase its charter capital to over VNĐ11.8 trillion (US$484.5 million). The lender will issue 620 million shares at VNĐ10,000 per share, bringing its charter capital from VNĐ5.6 trillion to VNĐ11.8 trillion. With the increased charter capital, LPBank continues to rank among the top private joint-stock commercial banks with the largest charter capital in the banking system. Charter capital plays a crucial role in measuring the Capital Adequacy Ratio (CAR) and determining the credit ratings of financial institutions.

HÀ NỘI — Việt Nam applies itself to ensure human rights and religious freedom for the people, the foreign ministry has underscored in its response to queries about the country's approach to the issue. Questioned about reports, initially posted on the website of the Office of the UN High Commissioner for Human Rights, that Việt Nam pledged to complete a number of human rights reforms by the deadline of 2099, the spokeswoman refuted the accuracy of this information, and said Việt Nam has asked the office to issue a correction. "Việt Nam's commitments to ensure and promote human rights are made on a continuous and regular basis. "Việt Nam finds the US' decision regrettable, and requests that the US refrain from placing Việt Nam on its special watch list regarding freedom of religion. There needs to be objective assessments based on accurate and comprehensive information on the religious freedom of Việt Nam."

Prime Minister Pham Minh Chinh (Photo: VNA)Hanoi (VNA) – Prime Minister Pham Minh Chinh, his spouse, and a high-ranking Vietnamese delegation will attend the 54th Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland and pay official visits to Hungary and Romania from January 16-23, the Ministry of Foreign Affairs announced on January 11. The working trip and visits will be made at the invitations of WEF Founder and Executive Chairman Klaus Schwab, Hungarian Prime Minister Viktor Orbán, and Prime Minister of Romania Ion-Marcel Ciolacu./.

Politics Vietnam strengthens ties with India’s Gujarat state Deputy Prime Minister Tran Luu Quang on January 11 received Chief Minister of India’s Gujarat state Bhupendra Patel, on the occasion of his attendance at the 10th Vibrant Gujarat Global Summit held from January 9-12. Politics Five Vietnamese officers assigned to join UN peacekeeping mission The Ministry of National Defence held a ceremony in Hanoi on January 12 to announce and present the President's Decision approving the sending of five officers to the United Nations peacekeeping mission in the Central African Republic and South Sudan. Politics PM to highlight Vietnam’s ideas, commitments in sustainable development at WEF-54: Ambassador Prime Minister Pham Minh Chinh’s participation at the 54th Annual Meeting of the World Economic Forum (WEF-54) in Davos, Switzerland from January 16-18 will provide a chance for Vietnam to highlight ideas, commitment and solutions to realise the country’s strategy on sustainable socio-economic development and international integration, according to Ambassador Le Thi Tuyet Mai, head of the Permanent Mission of Vietnam to the United Nations, WTO and other international organisations in Geneva.