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Foreign investment flows into Việt Nam go up 14.8 per cent in 11 months

Nearly US$28.85 billion in foreign investment (FDI) was registered as of November 20, rising 14.8 per cent year on year, reported the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

According to the FIA, foreign investors have invested in 56 provinces and cities during the 11 months of this year.

Of the total, $20.25 billion was disbursed in the 11 months, the highest since 2018.

The FIA attributed the increase in the FDI disbursement to the support from the Government and the Prime Minister, as well as the close coordination between ministries, agencies, and localities in removing obstacles to the operation of businesses.

The northern province of Quảng Ninh remains the biggest destination for FDI with nearly $3.11 billion, up 42.3 per cent from the period last year.

It is followed by HCM City with over $3.08 billion, Hải Phòng City $2.8 billion, Bắc Giang Province $2.7 billion, and Hà Nội $2.6 billion.

HCM City, accounting for 10.7 per cent of the total foreign investment, takes the lead in number of new projects (38 per cent), those with additional capital (25.3 per cent), and capital contributions to or purchases of shares at domestic companies (66.6 per cent), statistics show.

As of November 20, there were 38,844 valid FDI projects worth almost $462.4 billion in total across Việt Nam.

Nearly $294.2 billion of the projects’ registered capital was disbursed, equivalent to 63.6 per cent, according to FIA.

In terms of investment partners, 110 countries and territories have invested in Việt Nam in 11 months this year.

Of which, Singapore leads with a total investment capital of nearly $5.15 billion, accounting for more than 17.8 per cent of total investment capital, down 10.9 per cent from the same period last year.

Hong Kong (China) ranks second with more than $4.33 billion, accounting for 15 per cent of total investment capital, more than 2.2 times higher year-on-year.

South Korea ranked third with a total registered investment capital of more than $4.17 billion, accounting for nearly 14.5 per cent of total investment capital, a slight increase of 1.2 per cent over the same period last year.

China ranked fourth with $3.96 billion, and in fifth place was Japan with $3.1 billion.

Japan’s total FDI capital into Việt Nam since the reform period has always remained in the group of leading countries.

Specifically, the total accumulated valid investment capital by the end of last year is nearly $69.2 billion, ranking third after South Korea and Singapore.

With Việt Nam and Japan having just become comprehensive strategic partners, it is possible that FDI capital from Japan will increase significantly in the near future.

In terms of investment, foreign investors have invested in 19 out of 21 industries; the processing and manufacturing industry accounts for the highest proportion with more than $280.5 billion, making up 60.7 per cent of total investment capital.

In the next position is the real estate business with more than $67.6 billion, accounting for 14.6 per cent of total investment capital; followed by electricity production and distribution with nearly $38.6 billion, accounting for 8.3 per cent.

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The central Government has set a target for the Mekong Delta to establish one million hectares of high-quality, low-carbon rice production by the year 2030 in a decision signed on Monday by Deputy Prime Minister Trần Lưu Quang.

The project will be deployed across the provinces of An Giang, Kiên Giang, Đồng Tháp, Long An, Sóc Trăng, Cần Thơ, Bạc Liêu, Trà Vinh, Hậu Giang, Cà Mau, Tiền Giang and Vĩnh Long.

The project is part of an effort to restructure the region’s production system and value chain with a focus on sustainable farming practices, higher product value, greater business and production efficiency, as well as improved livelihoods of rice farmers, in accordance with Việt Nam’s commitment to protect the environment, adapt to climate change and reduce greenhouse gas emissions.

In terms of sustainable farming, the project aims to reduce seedlings to less than 70 kilogrammes per hectare, decrease chemical fertiliser and pesticide use by 30 per cent, and reduce irrigation water by 20 per cent compared to traditional farming. All production areas are expected to apply at least one sustainable farming practice, such as the 1 to 5 reduction, Sustainable Rice Platform (SRP) production standards, alternate wetting and drying, and certified good agricultural practices with designated growing area codes.

Regarding production organisation, all production areas are expected to link up with enterprises and cooperative groups, cooperatives, farmer organisations and consumers. The mechanisation rate is to exceed 70 per cent with more than one million households partaking in sustainable farming practices.

The project aims to reduce harvest losses to below 8 per cent, collect 100 per cent of straw from fields for reuse, and reduce greenhouse gas emissions by over 10 per cent compared to traditional rice cultivation methods.

In terms of farmers’ income, the project aims to increase the value added in the rice value chain by 40 per cent by 2030, with a profit margin for rice farmers greater than 50 per cent. High-quality and low-emission rice exports are expected to account for over 20 per cent of the total rice exports from the entire dedicated cultivation areas.

Phase 1 of the project (2024-2025) is to focus on consolidating existing areas covered by the 180,000-hectare Sustainable Agriculture Transformation Project in Vietnam (VnSAT) with a pilot programme on carbon credits for areas that meet required emission standards and plans to strengthen local cooperatives and upgrade infrastructures.

Phase 2’s targets (2026-30) include identifying areas suitable for high-quality, low-emission rice farming areas beyond the VnSAT that prioritise infrastructure planning and investment, production restructuring, value chain building and infrastructure.

The Ministry of Agriculture and Rural Development (MARD) has been tasked to lead and coordinate with other ministries, local authorities and economic sectors in the Mekong Delta region in the implementation of the project.

MARD has also been told to develop regulations on measuring, reporting, and verifying greenhouse gas emissions, in line with international regulations and specific conditions in Việt Nam, as well as to submit a proposal on a pilot programme for result-based carbon credit payments.

The project is to introduce four key programmes, including capacity-building for cooperatives and businesses participating in the project; credit support programmes for linking production, processing, and consumption of high-quality, low-emission rice products between cooperatives and businesses; modernisation of production infrastructure for one million hectares of high-quality rice; and a carbon payment pilot programme.

According to MARD, the project is to play a key role in the development of Việt Nam’s eco-agriculture, which will fundamentally transform the rice sector in the direction of sustainability.

Dr. Trần Công Thắng, head of the Insititute of Policy and Strategy for Agriculture and Rural Development under MARD, said the objective of the project is to reorganise the production system along the value chain, applying sustainable farming practices to increase the value and promote sustainable development of the rice industry.

Dr. Dương Văn Chín, former deputy director of the Mekong Delta Rice Institute, said the reduction of greenhouse gas emissions is imperative for the survival of the current climate and is a globally oriented action plan.

“We must join hands not only because of the Vietnamese Government’s commitment to the world but also for the current and future living environment of each of us,” said Dr. Chín.

“Only in this way can Việt Nam achieve its set goals. We need to review activities that can be reduced and make a concerted effort to implement them well.”

He said to reduce greenhouse gas emissions, it is necessary to use certified seeds, reduce the use of seeds, decrease chemical fertilisers and pesticides, implement alternate wetting and drying irrigation, and refrain from burning straws.

EXPORT-IMPORT IN 2023 Jan to October

Sweden exports to Vietnam

Sweden imports from Vietnam

Denmark exports to Vietnam

Denmark imports from Vietnam

Norway exports to Vietnam

Norway imports from Vietnam

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OTHER NEWS

Compliance with sustainability norms will strengthen Việt Nam-EU economic ties: conference

Adherence to the EU sustainability regulations would strengthen Việt Nam’s existing trade relations with the bloc and offer new development opportunities for the country, a forum heard in HCM City on Monday.

Speaking at the Việt Nam-EU Trade Forum on “Sustainability – The Pathway to Create Future Value Chains,” Tạ Hoàng Linh, director general of the European – American Market Department, said the EU is now Việt Nam’s third largest export market and fifth largest import market.

Việt Nam has surpassed Singapore to become its largest trading partner among ASEAN members and is its 11th biggest supplier of goods, he said.

The Việt Nam-EU Free Trade Agreement (EVFTA), which took effect in August 2020, has enabled Vietnamese and EU goods to access each other’s markets, meeting the supply diversification needs of both sides, he said.

“Việt Nam is making efforts to pursue a green growth road map for sustainable development.

“With the great advantages accruing from the EVFTA and the upcoming EU-Vietnam Investment Protection Agreement, Việt Nam wants to attract more investment, technology transfer and support projects from EU partners to make its economic structure green and sustainable.”

EuroCham Chairman Gabor Fluit said Việt Nam’s commitment to responsible environmental management and sustainable energy gives it a competitive edge.

“Việt Nam’s commitment to robust sustainability standards is a key driver of FDI, especially from Europe.

“By setting comprehensive green benchmarks in response to the growing demand for eco-friendly commodities and products, Việt Nam becomes a more dependable export market. This, in turn, encourages fresh European capital inflows and business opportunities in Việt Nam while simultaneously fostering consumer trust. This route also promises to create jobs and long-term prosperity.”

Within this framework, adherence to EU regulations like the carbon border adjustment mechanism (CBAM) and the corporate sustainability due diligence directive (CSDDD) is key to strengthening Việt Nam-Europe economic ties, he said.

Việt Nam’s embrace of carbon pricing policies in line with CBAM will keep its exports competitive, and adhering to the CSDDD directives demonstrates its commitment to transparent, sustainable business practices, he said.

“With compliance in place, Việt Nam will safeguard its existing trade relations with the EU and open the door for new ones.

“However, this regulatory compliance requires substantial investments in infrastructure modernisation, green technology advancement, and human capital development.

“This includes attracting skilled talent, implementing training programmes, adapting educational programmes, and establishing rigorous standards for emissions reduction, environmental monitoring and compliance enforcement.

“Collective efforts in these areas, along with investments in data tracking systems, are critical for Việt Nam’s success.”

Linh said: “Businesses need to proactively reform and improve their awareness and capacity to achieve green and sustainable growth.

It is an irreversible trend globally and mandatory if businesses want to embed themselves deeply in the global value chain.”

Nguyễn Quốc Khánh, R&D executive director at Vinamilk, said his company had adopted the circular economy model a long time ago.

Not just Europe but also many other markets around the world would soon require products to meet green and sustainable standards, and businesses would be unable to compete if they do not transform, he said.

“The initial investment needed for green transformation can be a barrier and a challenge to businesses, but then operating costs after the conversion are lower and their brands are more appreciated and trusted by consumers, thus helping businesses easily access more markets.

“It can be said that the benefits gained when businesses convert to green and sustainable production will be greater than the cost of conversion.”

Airbus to expand supply chain in Việt Nam

Airbus is determined to expand its supply chain in Việt Nam though it is not an easy task, Hoàng Tri Mai, the European aircraft maker’s chief representative in Việt Nam, told the forum.

It “demonstrates our confidence in the future of Việt Nam’s aerospace sector.”

Việt Nam has great potential to play a pivotal role in the regional and global aviation markets thanks to its burgeoning workforce, dynamic manufacturing sector and robust infrastructure, she said.

To capitalise on opportunities, Vietnamese suppliers need to meet the high quality, safety and sustainability standards of global companies like Airbus, she said.

The aviation industry is taking steps towards reducing CO2 emissions, including introduction of new-generation aircraft and moving from conventional fuel to sustainable aviation fuel or SAF, she said.

“We believe that SAF is one of the best decarbonising solutions in the aerospace sector.

“An aircraft flying with 100 per cent SAF can reduce up to 80 per cent CO2 emissions.”

SAF, made from sustainable feedstock, is still in its nascent phase, she said.

Việt Nam has potential for SAF production thanks to its availability of molasses and biomass residues, she said.

So the Government and other agencies should work together to develop policies and incentives and mandate the production and use of SAF, she added.

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Vice President busy with bilateral activities in Norway

Vice President Võ Thị Ánh Xuân had a meeting with Crown Prince of Norway Haakon Magnus in Oslo on Thursday (local time) as part of her ongoing visit to the northern European country.

Highlighting the growth of the Việt Nam-Norway relations in all fields, Vice President Xuân said that the two sides should maintain high-level visits to strengthen political trust and enhance the effectiveness of bilateral cooperation.

She proposed that the two sides should build legal frameworks to create foundation for bilateral relations, while expanding collaboration in new areas such as culture, education-training, science-technology and people-to-people exchange, and strengthening coordination and mutual support at regional and international forums.

The Vietnamese Vice President said she hoped Norway would help speed up the negotiation for a free trade agreement between Việt Nam and the European Free Trade Association (EFTA), and support Việt Nam to implement its commitment within the Just Energy Transition Partnership (JETP).

Crown Prince Haakon Magnus recalled his strong impression when seeing the great changes in Việt Nam during a visit to the country in 2014, and said that Việt Nam is an important partner of Norway.

He showed concern about the impacts of climate change on the Mekong Delta and pledged that the Royal Family and the Government of Norway would continue to support Việt Nam in responding to climate change, promoting green transition and developing renewable energy.

The Crown Prince highly valued Việt Nam’s commitments made at international forums on green transition, especially the net-zero emission commitment by 2050. He pledged that Norway would cooperate with and support Việt Nam in realising these commitments.

On the occasion, Vice President Xuân extended President Võ Văn Thưởng’s invitation to King Harald V to visit Việt Nam, and invited the Crown Prince and Princess to visit Việt Nam again in 2024.

The same day, Xuân held talks with Norwegian Prime Minister Jonas Gahr Store to discuss cooperation orientations and measures to bolster and deepen the friendship and partnership between Việt Nam and Norway.

The Norwegian PM said that the Vietnamese Vice President’s visit reflected the strong commitment of the two countries to promoting bilateral ties. He said he was impressed by Việt Nam’s achievements in implementing the Sustainable Development Goals (SDGs), especially those on poverty reduction and gender equality. PM Store congratulated Việt Nam on its election to the UN Human Rights Council for the second time, and expressed hope to cooperate closely in this field.

Xuân affirmed that Việt Nam highly valued the effective and precious support that the Government and people of Norway had given to Việt Nam over the years, helping Việt Nam promote socio-economic development and complete Millennium Development Goals.

The two sides agreed on the need to maintain the exchange of delegations at all levels, especially high level, and consider the possibility of establishing a strategic partnership framework in areas matching each other’s strengths and demands. They concurred to continue supporting each other at multilateral forums and in settling global challenges.

Regarding economic cooperation, the two sides noted the progress in bilateral trade and investment partnership, with Việt Nam becoming the second largest trade partner of Norway among ASEAN member countries.

The two sides agreed to support and encourage Norwegian businesses to increase investment in Việt Nam, and coordinate with each other in promoting the negotiation of the FTA between Việt Nam and the EFTA, thus opening up new economic cooperation opportunities between the two sides and benefiting enterprises of the two countries.

They vowed to strengthen collaboration within the JETP framework through support in finance, technology transfer, human resources development and institution-building experience sharing.

The Norwegian PM expressed his hope to form strategic cooperation mechanisms in specific areas such as green transition, circular economy and green economy.

The two leaders agreed on the necessity to expand cooperation in the fields of education-training, science-technology, social welfare, climate change, security, defence, and people-to-people exchange.

PM Store affirmed that the Norwegian Government would continue to create favourable conditions for the Vietnamese community in the country.

Regarding international and regional issues, the two leaders agreed that the two sides would continue to work closely with each other at regional and international forums, especially the UN and the ASEAN-EU cooperation framework, contributing to maintaining peace and stability in the region and the world on the basis of respect for international law and fundamental principles of the UN Charter.

Vice President Xuân conveyed Prime Minister Phạm Minh Chính’s invitation to PM Store to visit Việt Nam.

Also on Thursday, Vice President Xuân had a meeting with President of the Norwegian Parliament Masud Gharahkhani who hailed Việt Nam’s positive engagement in dealing with global challenges, especially those in climate change with the commitment to achieve net-zero emissions by 2050.

Xuân proposed that the Norwegian Parliament support the establishment of legal frameworks facilitating bilateral cooperation in areas matching each other’s strengths and demands, such as green transition, climate change and circular economy.

The Vietnamese Vice President said she hoped Norway would help speed up the signing of an FTA between Việt Nam and the EFTA, and provide Việt Nam with financial resources and institution-building experience, and human resources training support to realise the country’s international commitments, especially those made at the 26th UN Climate Change Conference (COP26) and within the JETP framework.

The Norwegian parliament leader agreed with Xuân on the need to beef up cooperation to optimise each other’s advantages and potential, saying that the Norwegian Parliament supported collaboration with Việt Nam in green transition and creates favourable conditions for Norwegian firms to strengthen partnerships with Vietnamese peers.

The legislatures of Việt Nam and Norway should strengthen the exchange of delegations and experience in building policies and laws to deal with challenges in socio-economic development in each country, he said.

On the occasion, Vice President Xuân conveyed an invitation from Vietnamese National Assembly Chairman Vương Đình Huệ to the Norwegian Parliament President to visit Việt Nam.

Earlier the same day, Vice President Xuân received Norwegian Minister of Culture and Equality Lubna Jaffery who underlined that Norway and Viet Nam shared the same commitment to promoting gender equality.

The minister expressed hope that the two countries would strengthen cooperation in this field and continue to effectively coordinate with each other in this area at multilateral forums, especially the UN.

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Việt Nam FoodExpo kicks off in HCM City

The exhibition is held at Saigon Exhibition and Convention Center (SECC) in District 7, HCM City and will take place until November 25.

Speaking at the opening of the exhibition, Deputy Minister of Industry and Trade Đỗ Thắng Hải said: “With unique advantages and potential, the food industry is identified as one of Việt Nam’s key industries, and plays an important role in promoting exports, creating jobs, and increasing income for workers and socio-economic development.”

The exhibition attracted over 500 booths from nearly 400 local and international businesses. Vietnamese businesses come from over 30 provinces and cities across the country.

“Vietnam FoodExpo 2023 will bring opportunities for businesses and visitors to access new products, advanced science and technology for food preservation and processing technology, thereby helping Việt Nam gradually become a country with a safe, modern and competitive food industry in the international market,” Hải added.

According to representatives of the Organising Committee, this year, Việt Nam FoodExpo will continue to be a major demonstration of the Vietnamese food industry, with the participation of leading manufacturers and exporters, contributing to bringing Vietnamese food to the most demanding markets in the world.

Visitors will experience high quality food from Việt Nam and the world at the exhibition.

The displayed products at the Việt Nam FoodExpo 2023 are diverse, spanning across fields such as: Agricultural products (rice, vegetables, tea, coffee, pepper, cashew nuts); raw seafood and processed seafood; processed foods and beverages (butter, milk, canned and processed foods, additives and spices, all kinds of beverages); and machinery, equipment, food processing technology, food preservation and packaging technology.

The event is also an opportunity to connect Vietnamese enterprises with partners, boost trade and investment promotion, and develop the food industry.

A highlight of the event is the presence of booths from the Biotrade project with the theme ” Biodiversity: Where flavours harmonise”. More than 20 small and medium-sized enterprises (SMEs) from Việt Nam, Laos, Myanmar and Cambodia have introduced more than 200 items such as spices, seeds (peanuts, beans, sesame), rice, coconut, palmyra, tea, coffee which are cultivated and produced according to international standards.

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Vice President’s visits to Denmark, Norway help consolidate traditional friendship

Vice President Võ Thị Ánh Xuân’s official visits to Denmark and Norway from November 20-25 was an opportunity for Việt Nam to consolidate the friendship with traditional partners, while bolstering cooperation amid rapid changes in the world and development in each country, Deputy Minister of Foreign Affairs Lê Thị Thu Hằng has said.

In an interview with the Vietnam News Agency, the diplomat said the visits, the first made by Xuân, aimed at carrying out the 13th National Party Congress’ foreign policy of independence and self-reliance for peace, friendship, cooperation and development, multilateralisation and diversification of foreign relations, and deepening relations with traditional partners.

The visits were a vivid illustration for Việt Nam’s respect for Denmark and Norway – two friendship partners in Northern Europe which have supported Việt Nam during the country’s struggle for national independence in the past, and its current cause of national construction and development, she said.

Furthermore, the trips will make contributions to enhancing the relations with the two countries which set up diplomatic ties with Việt Nam more than 50 years ago, she said, adding Xuân’s visit to Denmark took place at the time when Việt Nam and Denmark marked the 10th anniversary of their Comprehensive Partnership, and right after the two nations established a green strategic partnership, while this was the first visit to Norway by a Vietnamese high-ranking leader after nearly five years.

Hang highlighted that the visits showed the resolve to expand the traditional friendship and cooperation, which helped open up new cooperative opportunities on the basis of mutual benefits, and strengthen collaboration and support each other at multilateral forums.

Hang went on to say that the visits demonstrated the Party and State’s care for Vietnamese expats, including more than 23,000 in Norway, and over 16,000 in Denmark.

During her stay, Xuân held talks with Danish and Norwegian leaders and met ministers and enterprises of both nations.

The visits are expected to contribute to consolidating political trust between Việt Nam and Denmark and Norway, Hằng said, adding leaders of both countries affirmed that they have attached much importance to boosting the relations with Việt Nam in their policies in the region, and agreed to enhance delegation exchanges at all levels, promote the roles of bilateral cooperation frameworks and mechanisms, and closely work with Việt Nam at multilateral forums as well as regional and international organisations.

Hằng stressed that Xuân’s visits created new impetus for the collaboration between Việt Nam and the two countries in economy-trade-investment, especially in the fields of Denmark and Norway’s strengths, and Việt Nam’s interests such as renewable energy, sea-based economy, environment and manufacturing.

Danish leaders agreed to work with Việt Nam to implement the EU-Việt Nam Free Trade Agreement (EVFTA), and support the European Commission’s removal of its “yellow card” warning against Việt Nam’s seafood.

Meanwhile, Norwegian leaders said they support the early conclusion and signing of a free trade deal between Việt Nam and the European Free Trade Association (EFTA).

Leading enterprises from the two European countries, including CIP, Vestas, Lego, Equinor, Eagle Technology and Stena Recycling, said Việt Nam holds huge potential to attract foreign investments.

The two nations, boasting strengths in science-technology and considerable experience in renewable energy and climate change response, said they support Việt Nam in the implementation of the Just Energy Transition Partnership (JETP) and its commitment to net-zero target by 2050, including financial support, technology transfer and human resources training.

Additionally, the visits contributed greatly to stepping up cooperation with Denmark and Norway across the fields of culture, sports, tourism, healthcare, education, gender equality, child protection and people-to-people exchanges.

Based on the outcomes of the trips, ministries, sectors and branches will continue coordination and carry out specific measures to promote cooperative relations with Denmark and Norway into a stronger fashion, meeting the aspirations of their people, and contributing to regional and global peace, stability, cooperation and development.

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Vietnamese, Danish PMs announced establishment of Green Strategic Partnership

Việt Nam and Denmark announced the establishment of a Green Strategic Partnership following the online talks between Prime Minister Phạm Minh Chính and his Danish counterpart Mette Frederiksen late Wednesday evening.

At the talks, the two PMs exchanged views on the situation and results of bilateral cooperation in recent times, and agreed on directions and measures to strengthen the bilateral comprehensive partnership in the time ahead.

Frederiksen congratulated Việt Nam on its development achievements, and hailed the country’s increasing role and position in the international arena, affirming that it is a leading important partner of Denmark in the region.

For his part, Chính noted that in its foreign policy, Việt Nam wishes to work with Denmark to foster their relations more intensively and effectively.

The leaders shared the view that since its establishment 10 years ago, the Việt Nam-Denmark comprehensive partnership has developed dynamically and effectively in many fields such as politics-diplomacy, economy, development cooperation, energy, environment and climate change response, among others.

Denmark is an important trade partner of Việt Nam in the European Union (EU). Regarding investment, with the sixth factory globally worth more than US$1 billion by its Lego Group in the southern province of Bình Dương, Denmark ranks 22 out of the 141 countries and territories investing in Việt Nam, at the same time opening up the green investment trend in the Southeast Asian nation.

The PMs consented to maintain all-level delegation exchanges and contacts, promote cooperation between ministries, agencies and localities, effectively implement cooperation mechanisms, and coordinate and support each other at multilateral forums, including the United Nations and the ASEAN-EU cooperation framework.

PM Chính thanked the Danish Government for supporting Việt Nam to host the Partnering for Green Growth and the Global Goals 2030 (P4G) summit in 2025, and affirmed that Việt Nam backs initiatives that contribute to peace, stability and sustainable development, and for the sake of people.

Emphasising that trade and investment relations between Việt Nam and Denmark form a pillar of the bilateral relations, the two PMs agreed to ask agencies of the two countries to coordinate closely and optimise the EU-Việt Nam Free Trade Agreement in order to further promote their cooperation potential and strengths.

Frederiksen stressed that Việt Nam boasts substantial potential and the Danish Government wants to upgrade relations between the two countries, while always encouraging Danish businesses to enhance economic and investment cooperation in Việt Nam.

PM Chính suggested Denmark step up investment in Việt Nam in such areas as renewable energy, processing industry, marine economy and green growth, and called on the country to support the European Commission (EC) to soon remove its IUU “yellow card” on Vietnamese seafood.

They agreed on the need to continue to effectively implement strategic cooperation frameworks on food safety and sustainable food production, and strengthen public-private partnership in production under husbandry, agricultural and fishery chains, and boost the export of food and agricultural products.

On the basis of the fruitful cooperation in the framework of the Strategic Partnership on energy, environment, green growth, climate change response set up in 2011, and the freshly-established Green Strategic Partnership, the two sides agreed to expand collaboration towards green growth, making contributions to concretising the two Governments’ efforts in carrying out their net-zero emission commitments at the UN Climate Change Conference in Glasgow (COP 26), and the UN’s sustainable development priorities.

PM Chinh took the occasion to thank Denmark for giving Việt Nam important development assistance, helping the country successfully realise its socio-economic development goals.

He recommended competent authorities of both nations work closely and effectively use the official development assistance (ODA) fund for Việt Nam, while asking Denmark, G7 countries and international partners to help Việt Nam carry out the Just Energy Transition Partnership (JETP) as well as the Danish Energy Partnership Programme for 2020-2025 (DEPP III).

PM Frederiksen affirmed Denmark will continue cooperation with Việt Nam in the field of green transition, and noted PM  Chính’s recommendation on financial support, technology transfer, human resources training, and institution building.

Both leaders welcomed the robust collaboration in other important fields such as education, transport, healthcare, statistics, and locality-to-locality collaboration.

The Vietnamese Government leader suggested Denmark continue support for the Vietnamese community, helping them improve livelihoods and become an important bridge to consolidate and enhance the friendship and cooperation between the two nations.

Touching on regional and global issues, the two PMs laid stress on the significance of maintaining peace, stability and development, resolving disputes via peaceful means in line with international law. They said they support freedom of navigation and overflight in the East Sea based on international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS 1982).

On the occasion, PM Chính invited his Danish counterpart to visit Việt Nma soon, and the latter accepted the invitation with pleasure.

Right after the talks, the two PMs adopted a joint statement on setting up the Việt Nam-Denmark Green Strategic Partnership, an important document that contributes to consolidating and deepening the Comprehensive Partnership between the two countries in the new period, meeting sustainable development requirements in each nation as well as the common trend of the era, towards a greener, cleaner and more sustainable world.

PM Chính highlighted that the Green Strategic Partnership will make the bond between Việt Nam and Denmark an example in the North-South cooperation between developed and developing countries in the realisation of the net-zero emission target by 2050.

It lays a foundation to create breakthroughs in economic collaboration, enhance investment for green growth, circular economy and energy transition, while showing the two countries’ responsibility in joining global efforts to settle global issues on the environment and climate, he said

PM Frederiksen affirmed that the Green Strategic Partnership will pave the way for green cooperation, bring prosperity to the people of the two nations, and realise the global sustainable development goals.

Both sides believed that the establishment of the Việt Nam-Denmark Green Strategic Partnership will be a new framework that effectively complements the Comprehensive Partnership between the two countries, while demonstrating their responsibility in joint efforts towards a greener and more sustainable future for the world.

The two sides agreed to coordinate closely to soon develop a plan to implement the joint statement; strengthen cooperation in building institutions and policies; share experience and facilitate investment cooperation between businesses of the two countries in green fields.

The joint statement on the Việt Nam-Denmark Green Strategic Partnership will contribute to realising the efforts of the two Governments in promoting green transition, raising global climate ambitions, and focusing on just green transition through cooperation in various areas including green dialogue; climate, environment and energy; trade and business cooperation; maritime; development of sustainable, livable cities; food, agriculture and aquaculture; health care and life sciences; national statistics in support of the implementation of sustainable development goals and green transition; promoting green transition goals in all fields; and multilateral cooperation.

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Vice President’s visit hoped to promote ties with Norway

Vice President Võ Thị Ánh Xuân’s visit to Norway is expected to create new momentum for the development of bilateral relations, Vietnamese Ambassador Đinh Nho Hưng told Vietnam News Agency.

The diplomat said that the relationship between Việt Nam and Norway is developing positively with increased cooperation activities in both quantity and quality. The two sides have strengthened meetings and delegation exchanges at all levels and in various fields.

The two countries as well as the International Partners Group (IPG) adopted a political declaration on the establishment of the Just Energy Transition Partnership (JETP). All the plans postponed in two years due to the COVID-19 pandemic have been resumed, including the deputy ministerial-level Political Consultation in March 2023, he noted.

The two sides have worked on the negotiation of a number of agreements, the ambassador said, adding that the visa exemption policy for Norwegian citizens entering Việt Nam has been expanded, with the temporary stay period increased from 15 days to 45 days.

For many years, Norway has been an important partner of Việt Nam, said Ambassador Hưng, noting that the European country has provided Việt Nam with active support in implementing the Millennium Development Goals (MDGs) in the past and the Sustainable Development Goals (SDGs) at present.

Norway has offered about US$320 million to Việt Nam, while many Norwegian firms have effectively operated in Việt Nam, he said, adding that tourism activities between the two sides have bustled.

Ambassador Hưng underlined that businesses of both sides have shown increasing interest in cooperating with each other, while more opportunities are being seen in bilateral partnership in the fields of green economy, circular economy, sustainable development, renewable energy, and marine economy, which are expected to contribute to the growth of both countries, matching the major trends of the world in the next 1-2 decades.

The diplomat pointed to three foundations that enable Việt Nam and Norway to be optimistic about their relations in the future. Firstly, despite fluctuations in the world, Việt Nam has seen stable growth and made active and positive contributions to the joint efforts in the region and the world for peace and development. Secondly, Norway is a leading country in green industries with its strengths in technology solutions, finance and experience, providing effective support to developing countries in SDG realisation and climate change response. And thirdly, the world is facing many great challenges, evolving at a faster pace than previously forecast, requiring countries regardless of their sizes to increase cooperation.

Regarding the significance of Vice President Xuân’s upcoming visit to Norway at the invitation of Norwegian Prime Minister Jonas Gahr Støre, Ambassador Hưng said that the visit will be a highlight of the Việt Nam-Norway relations.

This will be the first visit to Norway by the Vietnamese Vice President, which is expected to create a new momentum for the growth of the relations between the two countries, contributing to increasing the cooperation efficiency and optimising collaboration potential, while implementing Việt Nam’s external policy of independence, self-reliance, cooperation, development, multilateralisation and diversification, active and positive international integration, being friend, trustworthy partner, positive and responsible member of the international community, he said.

Vice President Xuân’s visit is also expected to contribute to implementing important development strategies, planning and programmes of the countries, while promoting the realisation of national targets in SDGs implementation and commitments given at the UN Climate Change Conference.

Activities that the Vice President will conduct in Norway are hoped to help expand bilateral cooperation opportunities in trade, investment, education, science-technology and culture, mobilising resources for national development, said the ambassador.

He said that during the visit, Vice President Xuân is scheduled to mention many important cooperation areas, including sustainable and green development, as well as solutions to support the development of circular economy, marine economy, green agriculture, sustainable aquatic farming, and plastic waste treatment.

Particularly, the two sides will discuss cooperation and support to Việt Nam in realising the JETP and the implementation of Vietnam’s energy development plans, as well as solutions to promote efficient energy use, contributing to the achievement of Vietnam’s net-zero emission commitment by 2050 and ensuring the national energy security and equality in energy transition.

The two sides will also discuss the speeding up of the negotiations on a free trade agreement between Việt Nam and European Free Trade Association (EFTA) states which comprises Norway, Switzerland, Iceland, and Liechtenstein and has a total GDP of VNĐ1.2 trillion, said Ambassador Hưng.