Vietnam news in brief - July 10

Vietnam strengthens international audit coordination for transparency and good governance

Vietnam highlighted international audit coordination and the role of Supreme Audit Institutions (SAI) in fighting corruption and promoting transparency and good governance at a workshop held by the State Audit of Vietnam (SAV) in Hanoi on July 9.

Participants from the Auditor General of South Africa, the United Nations Office on Drugs and Crime (UNODC) in Southeast Asia and Pacific Region, the Indonesian Audit Commission and Sthe AV shared their views on inter-institutional cooperation in the fight against corruption.

Vietnam to boost cooperation with WIPO

Deputy Minister of Science and Technology Bui The Duy on July 9 called on the World Intellectual Property Organization (WIPO) to strengthen cooperation with Vietnam in intellectual property, such as protection of intellectual property and differentiation with creations by artificial intelligence and processing backlog applications.

This proposal was made when the Vietnamese delegation participated in the 65th session of the General Assembly of Member States of WIPO from July 9 to 17 in Geneva, Switzerland. WIPO Director General Daren Tang promised to take up Duy's proposals.

The Delegation of Vietnam at the 65th Session of the WIPO General Assembly. Photo: Ministry of Science and Technology

Great opportunity for Vietnam-Japan semiconductor cooperation

A seminar in Tokyo on July 9 brought together Vietnamese and Japanese stakeholders to explore opportunities for semiconductor cooperation, the potential for Vietnam-Japan partnership in this field, and Vietnam's strategic advantages in the global semiconductor value chain.

First Vietnamese Culture Day in Croatia

The first Vietnamese Culture Day was held in Croatia on the occasion of the 30th anniversary of the establishment of diplomatic relations between the two countries [July 1, 1994-2024].

There are photos and video clips on bilateral relations, an exhibition of typical Vietnamese handicrafts and agricultural products, and business networking activities.

H1 export-import revenue up 8.4% year-on-year

State budget revenue from Vietnam's export-import activities reached VND200.46 trillion (US$8.35 billion) in the first half of 2024, up 8.4% year-on-year, the General Department of Vietnam Customs said on July 9.

Exports grew 14.9% to $190.7 billion while imports rose 17.3% to $178.8 billion, resulting in a trade surplus of $11.8 billion.

Vietnam - priority market for Australia in Southeast Asia

McGowan, Queensland's Executive Director of Trade and Investment, on July 9 highlighted Queensland's focus on Vietnam as a priority market in Southeast Asia and welcomed the growing presence of Vietnamese businesses.

He outlined the state's advantages in mining, renewable energy, agriculture, and education and pledged support for additional investment in Vietnam. Pham Hung Tam, Vietnam's ambassador to Australia, promoted greater bilateral investment, particularly in digital transformation and clean energy.

Vietnam supports South Korean initiatives to develop low-income housing

Deputy Prime Minister Tran Luu Quang on July 9 expressed strong support for South Korean companies' plans to develop low-income housing in Vietnam. Meanwhile, Jung Won-ju, Chairman of Daewoo E&C, said South Korea's Minister of Land and Construction will visit Vietnam to strengthen cooperation in housing development.

Vietnam accelerates airport construction

Deputy Prime Minister Tran Hong Ha has urged Dong Nai Province to complete land clearance for Long Thanh International Airport by July 15. The Ministry of Transport will collaborate with related agencies to develop necessary facilities, including health and animal/plant quarantine stations. To address delays in Component Project 4, Ha called for the selection of experienced international consultants and rapid completion of the investor selection process by July 2024. The Airports Corporation of Vietnam (ACV) is tasked with ensuring seamless coordination and execution across all project components.

Vietnam ranks first in world millionaire growth rate

The number of millionaires in Vietnam has nearly doubled in the past 10 years, from 9,800 in 2013 to 19,400 in 2023, according to global wealth intelligence firm New World Wealth (South Africa). This is the fastest growth rate among the 90 countries surveyed. Vietnam's economy has grown impressively over the period. In 2022, the country's GDP increased by 8.02%, a record level in more than 10 years.

Promoting the application of carbon credits

The agriculture and forestry sector needs to promote the application of carbon credits to increase profits, especially in the Mekong Delta, experts recommended at an event on carbon credits on July 9. According to the World Bank, the establishment of a specialized, high-quality rice growing area in the Mekong Delta can reduce 10 million tons of carbon and generate about $100 million in revenue. Carbon credits can be generated by planting, protecting, and developing forests, regenerating vegetation, or using clean technologies in agriculture and livestock.