Press digest – September 15

India, VN expand effective partnership

Viet Nam and India will deepen their strategic partnership, with a focus on strengthening cooperation in politics, national security and defense, economics, science-technology, oil & gas, culture, and people exchange, as well as at regional and multilateral forums.

The agreement was reached during high-level talks in Ha Noi between State President Truong Tan Sang and his Indian counterpart Pranab Mukherjee who is in Hanoi for a four-day visit.

The two presidents then witnessed the signing of a number of cooperation agreements in the areas of customs support, bank credits, basa fish breeding, animal health quarantine, youth cooperation, aviation services, and oil & gas. 

NA Chairman attends AIPA-35 in Laos

National Assembly Chairman Nguyen Sinh Hung held a meeting with Lao PM Thongsing Thammavong in Vientiane on September 15 as part of his visit to Laos to attend the 35th General Assembly of the ASEAN Inter-parliamentary Assembly (AIPA-35).

Chairman Hung highly valued the Lao PM’s contributions to the development of the two countries’ relations, especially with regard to politics, economics, investment and trade. 

Lao PM Thongsing Thammavong thanked the Vietnamese NA for its active support in helping the Lao law-making body host the AIPA-35 and said that the practical and effective collaboration between the two parliaments had helped boost bilateral relations. 

Deputy PM Minh meets Chinese counterpart in Guangxi

Deputy PM Pham Binh Minh held a meeting with his Chinese counterpart Zhang Gaoli in Nanning, in China’s Guangxi Zhuang Autonomous Region, as part of his participation in the China-ASEAN Expo and the 11th China-ASEAN Business and Investment Summit.

He said Vietnam treasured its traditional friendship with China and was willing to increase comprehensive bilateral relations in a substantive manner.

Deputy PM Zhang Gaoli called on Guangxi to increase cooperation with Vietnamese sectors and localities in the fields of infrastructure development, trade, investment, tourism, education and training, and agriculture.

Int’l conference held to promote VN, ASEAN, Russia cooperation

Speaking at the international conference themed “Development Cooperation between Viet Nam-ASEAN and Russia: Reality and Prospects”, Vice President Nguyen Thi Doan affirmed that Viet Nam is an important link in Russia-ASEAN relations.

She underlined the need to identify priority areas in ASEAN-Russia cooperation to bring into full play the potential of each side, to help address regional issues and create opportunities for development.

Savanakhet-Lao Bao high speed rail project taking shape

A memorandum of understanding (MoU) was signed to conduct preliminary surveys for the US$5 billion Savanakhet-Lao Bao high speed rail project connecting Laos and Viet Nam.

The unprecedented high-speed railway is designed to span 220 kilometres, running from the Lao central province of Savannakhet to the Lao Bao border gate of Viet Nam.

VN attracts US$10 bil in FDI in eight months

The foreign direct investment (FDI) in Viet Nam dipped 19% compared to last year’s corresponding period to US$10.23 billion in the first eight months of the year.

Out of 51 nations and territories from around the globe investing in Viet Nam during the eight month period, the Republic of Korea (RoK) took the lead with US$3.22 billion, comprising 31.5% of the cumulative total FDI for the period.

The processing and manufacturing industries, with 492 new projects and FDI of US$7 billion, was the leading sector attracting FDI, accounting for 68.4% of the cumulative total for the eight month period. 

VN among top three foreign investors in Laos

Viet Nam is one of the three leading foreign investors in Laos, having funneled more than US$5 billion into over 400 projects, according to a workshop in Vientiane.

Delegates at the event agreed on the need to speed up an investment strategy in Laos by 2020, simplify procedures, create favorable conditions for enterprises to access capital, classify and revoke infeasible projects, and strengthen state management.

By Thuy Dung