Vietnam news in brief - February 28

China urged to share technology with Vietnam for win-win cooperation
At a meeting with PowerChina Group (China) on February 27, Deputy Prime Minister Tran Hong Ha expressed his hope that renewable energy projects invested by Chinese enterprises, including PowerChina, will become models of effective cooperation. The Deputy Prime Minister highly appreciated the Chinese group's investment and business activities around the world, especially in the energy and infrastructure construction sectors, where advanced and modern technologies have been applied. Ministries, sectors and localities will continue to work with and support the Group in seeking investment opportunities in specific renewable energy and transport infrastructure projects.

Vietnam a priority in Canada's Indo-Pacific strategy

Nathan Andrew Nelson, Chief Representative and Innovation Director for the Indo-Pacific Region at EDC, notes that Vietnam is one of Canada's priority countries in the Indo-Pacific region and will become the bright star in the next 5-10 years.

In 2023, Canada announced its Indo-Pacific Strategy, with one of its five goals to expand trade, investment and supply chain resilience. Two-way trade between the two countries will reach approximately US$10 billion in 2023. Vietnam is Canada's largest trading partner in ASEAN, and the value of trade between the two countries has continuously grown by more than 50% since 2015.

Workers process farm produce for export. Photo: VNA

Siemens to train semiconductor workers in Vietnam

Under a cooperation agreement signed on February 27, the Saigon Hi-Tech Park (SHTP) and Siemens Electronic Design Automation Company will work together to improve training opportunities for Vietnam's semiconductor industry workforce. The joint initiatives are expected to be implemented in 2024. The partnership aims to provide trainees with the opportunity to learn about cutting-edge technologies in semiconductor design and verification, enabling them to gain practical experience and succeed in the high-tech sector.

Proposal submitted to improve flood prevention in Thu Duc City
The Ho Chi Minh City Urban Infrastructure Development and Management Board has asked the city's People's Committee to review and approve a flood prevention project for the satellite city of Thu Duc. Under the project, the city will rehabilitate dikes and the irrigation system, develop reservoirs, and build a wastewater treatment plant with a capacity of 130,000 m3 per day.
The total investment of the project is estimated at VND9.93 trillion (US$430 million), with about US$350 million borrowed from the World Bank for construction and the rest (financed by the city) for land clearance.

Vietnam invested over US$3.7 billion in CLV development triangle

Vietnam has invested in 110 projects in the provinces of Laos and Cambodia falling within the Vietnam-Laos-Cambodia (CLV) development triangle, with registered investment capital of more than US$3.7 billion, accounting for more than 24% of the total number of projects and more than 44% of the registered capital invested in these two neighboring countries. Of these, Vietnam is running 65 investment projects in Laos, worth more than US$2 billion, and 45 projects in Cambodia, with a capital of nearly US$1.7 billion.

Vietnam - Australia promote agricultural cooperation

Beanstalk AgTech announced on February 27 a bilateral cooperation strategy between Australian and Vietnamese companies on smart agriculture to adapt to climate change, focusing on the shrimp and rice industries, as part of the Australia-Vietnam Enhanced Economic Engagement Grant (AVEG).

Held from March 18-22 in Vietnam and from May 6-10 in Australia, the Vietnam-Australia Partnership Program for Smart Agriculture to respond to climate change aims to create a premise for the development of a sustainable value chain in Vietnam's agricultural industry, focusing on the rice and shrimp sectors.