Vietnam values financial grants from OFID

09:01 | 24/05/2017 Cooperation Follow Ven.vn on

Vietnam welcomes technical support from the OPEC Fund for International Development (OFID) via official development assistance and preferential loans.

vietnam values financial grants from ofid

PM Nguyen Xuan Phuc and OFID Director-General Suleiman Jasir Al-Herbish (Photo: VNA)

Prime Minister Nguyen Xuan Phuc made the remark when talking about Vietnam’s demand for infrastructure development at a meeting with OFID Director-General Suleiman Jasir Al-Herbish in Hanoi on May 23.

The PM lauded the signing of a US$ 21.8 million loan agreement between the Finance Ministry and OFID on May 22 for the construction of Dam Vac Bridge in the northern province of Vinh Phuc. He noted that the two sides have implemented many effective joint projects in Vietnam’s remote areas.

He asked the OFID to continue financing projects in Vietnam, adding that the Government is willing to work with the fund in designing programmes in line with OFID funding criteria and the country’s growth strategy.

Stressing that Vietnam wants to develop the private sector, the PM called on the OFID to create favourable conditions for the sector access the fund’s capital. He suggested holding discussions on the matter and assigned the Finance Ministry to work on the cooperation.

For his part, Suleiman Jasir Al-Herbish said his current visit reflects the OFID’s willingness to expand affiliation with Vietnam in any field at any time within its capacity.

Noting 2018 will mark 40 years of collaboration between the OFID and Vietnam, he said the joint work has produced sound outcomes and unveiled that the organisation is studying a number of projects in the country.

The OFID hopes the Prime Minister will direct relevant agencies to prepare all needed procedures for joint projects so that they can be signed right after being approved by the OFID executive board, he said.

The OFID Director-General said his organisation has a private sector department that could work with the Vietnamese Finance Ministry on cooperation between OFID and Vietnam’s private sector.

NDO/VNA

See more news

Vietnam slow to exploit Pacific Rim trade opportunities

06:00 | 09/03/2023 Vietnam and other regions

(VEN) - Vietnam is looking back at the first three years of the Pacific rim trade deal known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) with a sense of accomplishment, but also frustration at unmet challenges.

Trade deal with EU a hit so far

06:00 | 07/03/2023 Vietnam and EU

(VEN) - Vietnam's exports to the EU have seen positive growth more than two years after the EU-Vietnam Free Trade Agreement (EVFTA) took effect in August 2020. Vietnam Economic News’ Nguyen Hoa spoke with Nguyen Anh Duong, Head of the Central Institute for Economic Management’s (CIEM) Department for General Economic Studies about these developments.

Vietnamese leaders receive Cambodian Deputy PM

09:00 | 05/03/2023 Vietnam and ASEAN

On the afternoon of March 4, newly-elected President Vo Van Thuong hosted a reception for Deputy Prime Minister and Interior Minister of the Kingdom of Cambodia Samdech Krolahom Sar Kheng, who is paying a working visit to Vietnam.

Việt Nam – Norway cooperation in aquaculture very optimistic

18:00 | 02/03/2023 Vietnam and other regions

State Secretary of Norwegian Ministry of Foreign Affairs, Erling Rimestad talked with Việt Nam News reporter Nguyễn Hằng about cooperation in aquaculture and seafood industry in the future on the occasion of his official visit to Việt Nam.

Vietnam, Laos boost cooperation in energy, mining

15:06 | 27/02/2023 Vietnam and ASEAN

Minister of Industry and Trade Nguyen Hong Dien and Lao Minister of Energy and Mines Phoxay Sayasone have agreed to further boost Vietnam-Laos cooperation in energy and mining, contributing to the traditional friendship, special solidarity, and comprehensive partnership between the two nations.

Trade deal with the UK boosts investment

06:00 | 23/02/2023 FDI

(VEN) - The bilateral trade and investment relations between the United Kingdom and Vietnam have recorded positive results in the first year of the UK-Vietnam Free Trade Agreement (UKVFTA).

Businesses back CPTPP expansion

06:00 | 20/02/2023 Vietnam and other regions

(VEN) - Export-driven firms and online sellers in potential member countries see accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as providing new e-commerce export opportunities and diversifying trade away from China. The CPTPP is one of the world's largest free-trade areas by gross domestic product (GDP).

Vietnam sees Russia as prioritised partner: NA official

07:12 | 18/02/2023 Vietnam and other regions

National Assembly Vice Chairman Nguyen Khac Dinh held talks with visiting First Deputy Speaker of the Federation Council of Federal Assembly of Russia (upper house) Andrey Yatskin in Hanoi on February 17, during which the host underlined that Russia is one of the prioritised and most important partners in Vietnam’s external policy.

Vietnam, Australia eye comprehensive strategic partnership after 50 years of relations

09:15 | 15/02/2023 Vietnam and other regions

Fifty years ago, on February 26, Vietnam and Australia officially set up diplomatic relations. In the past five decades, bilateral relations have developed rapidly and sustainably, bringing about various benefits to the two countries.

EVFTA ensures fair competition, subsidies

06:00 | 14/02/2023 Vietnam and EU

(VEN) - Senior Vietnamese and European officials held a recent assessment of the initial two-year implementation of the EU-Vietnam Free Trade Agreement (EVFTA) at a meeting chaired by Minister of Industry and Trade Nguyen Hong Dien and European Commissioner for Trade Valdis Dombrovskis. Both acknowledged the efforts made by their respective monitoring agencies and enterprises in taking advantage of the trade deal’s many opportunities.

Latest Most Read

Aeroderivative gas turbines increasingly popular in Asia-Pacific

16:25 | 29/03/2023 Energy

Power generation from natural gas plays an important role and provides favorable conditions for the energy transition towards a carbon-free future. GE is striving to support Asian countries in their sustainable energy transition strategies.

COP28 President-Designate to speak at Berlin Energy Transition Dialogue Conference

16:21 | 29/03/2023 Environment

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, will visit Berlin to give a keynote speech at the Berlin Energy Transition Dialogue Conference 2023 (BETD) and meet with senior leaders and ministers from across the world. During the BETD, Dr. Al Jaber will repeat his call for governments, the private sector and civil society to work together for swift and ambitious action to reduce global emissions and progress the energy transition.

Scholarship opportunity at New Zealand Education Fairs 2023

15:42 | 29/03/2023 Society

Education New Zealand (ENZ) and Eduvina Limited Company will co-host the New Zealand Education Fairs in April 2023, with the participation of nearly 40 institutions from New Zealand.

DKSH and Sanofi mark 10 years of partnership for sustainable growth in Vietnam

15:40 | 29/03/2023 Companies

With nearly 160 years of experience in doing business in Asia and beyond as well as over 30 years of presence in Vietnam, DKSH consistently strengthens its position as a trusted partner to many businesses. Bridging Swiss reliability and an Asian can-do at

A321neo: Breakthrough technology saves fuel consumption up to 20%

15:37 | 29/03/2023 Science - Technology

A321neo: Breakthrough technology saves fuel consumption up to 20%

Fireworks to light up Đà Nẵng's sky as international festival returns with a bang

06:00 | 16/03/2023 Entertainment

The event’s organisers, Sun Group, said that the 2023 event would focus on post-COVID-19 tourism promotion as a benchmark for full economic growth in the central region and the country.

Uncorking bottlenecks for support industry development

06:00 | 18/03/2023 Industry

(VEN) - Vietnam is mulling legislation to boost the low localization rate of its industrial production and means to modernize its support industries and increase their participation in the local and foreign value chain.

Vietnam adopts high integration standards

06:00 | 25/03/2023 Companies

(VEN) - Given Vietnam’s increased integration into the global marketplace, domestic producers are being urged to meet standards beyond those expected of high-quality Vietnamese products.

Vietnam seeks response to corporate tax overhaul

06:00 | 20/03/2023 Finance-Banking

(VEN) - All European Union states and many other countries will introduce a global minimum tax (GMT) of 15 percent on large corporations by the start of 2024, and Vietnam is being urged to devise appropriate policies and adapt to the new taxation.

Understanding UK trade remedies

06:00 | 17/03/2023 Vietnam and other regions

Multimedia

Video Longform Infographic Photo

Oscar dream

09:05 | 28/03/2023 Video

Witness the inspiring story of Vietnamese director Hà Lệ Diệm and her documentary 'Children of the Mist’. Despite facing several challenges, Diễm shot and edited the film in just four years with a borrowed camera and minimal training. Her incredible talent has earned her multiple prizes at international film festivals, and was even short-listed for the Oscars this year.

Vietnam remains world’s second-largest coffee exporter

08:55 | 28/03/2023 Infographic

Vietnam remained the second-largest coffee exporter in the world from February 2021 to January 2022, according to the International Coffee Organisation.

Ha Long Bay, Cu Chi Tunnels among ten adventurous tourism places in Southeast Asia

07:00 | 25/03/2023 Infographic

The travel magazine The Travel has listed Ha Long Bay in the northern coastal province of Quang Ninh and Cu Chi Tunnels in Ho Chi Minh City among the ten must-visit epic and adventurous places in Southeast Asia.

Vietnam-Italy trade partnership

13:00 | 23/03/2023 Infographic

Two-way trade turnover between Vietnam and Italy has doubled since 2010. Vietnam is Italy’s largest trading partner in ASEAN, while Italy is Vietnam’s fourth largest trading partner in the EU.

exploring viet nam s fourth highest mountain peak bach moc luong tu

Exploring Việt Nam ’s fourth highest mountain peak, Bạch Mộc Lương Tử

06:00 | 29/03/2023 Tourism

The top of Bạch Mộc Lương Tử in Lào Cai Province, Việt Nam, is a popular spot for tourists to watch the sunset and take pictures of floating clouds.

Policy

E-visa stay period may be extended to 90 days

18:09 | 27/03/2023 Policy

The Ministry of Public Security has recently proposed that e-visa holders might be able to stay in Viet Nam for up to 90 days instead of the current 30 days.

New legal documents in first half of March 2023

06:00 | 23/03/2023 Policy

VEN lists the latest legal documents issued by the Vietnamese Government, ministries and state agencies.

Animal feed industry asks for import tax reduction on raw materials

09:55 | 20/03/2023 Policy

The Government has received a proposal from the Vietnam Feed Association to eliminate the import tax on soybean meal, currently set at 2%.

Over 250 petitions submitted to authorities on fragility of petroleum regulations

18:07 | 16/03/2023 Policy

The petitions concern the alteration of petroleum business restrictions in decrees No.83/2014/ND-CP and No.95/2021/NQ-CP, resulting in losses for retail establishments.

Industry & Trade

HCM City to host international paper, coatings, rubber, and plastic expos

09:29 | 29/03/2023 Industry

Four international exhibitions, Paper Vietnam, Rubber and Tyre Vietnam, Coatings Expo Vietnam, and Plastech Vietnam, will be held in HCM City from June 14 to 16.

Bac Kan produce takes off

10:00 | 26/03/2023 Industry promotion

(VEN) - Efficient trade promotion has helped agricultural and unique products of the northern province of Bac Kan reach foreign markets, including the Czech Republic and Japan, among others.

Bac Giang develops rural industrial exports

07:00 | 25/03/2023 Industry promotion

(VEN) - The northern province of Bac Giang has become an industrial development center in recent years, with industry making a growing contribution to the provincial gross regional domestic product (GRDP). However, many rural industrial establishments in Bac Giang remain small-scaled and lack investment capital, equipment, machinery and technology, limiting production capacity, product quality, competitiveness, and domestic and foreign market expansion.

Ocean dialogue dicusses offshore renewable energy potential

09:53 | 24/03/2023 Energy

Offshore renewable energy was the centre of discussion at the 10th Ocean Dialogue in the central province of Khanh Hoa on March 23.

Investment

Vietnam's retail market proves attractive for foreign investors

09:21 | 29/03/2023 FDI

Vietnam is becoming an attractive retail market for companies all over the world with many regional and global FDI investors recently announcing plans to increase capital and expand distribution networks here.

Asian investors increasingly keen on Vietnam

13:00 | 26/03/2023 FDI

(VEN) - Vietnam is considered a promising destination for investment from Asia, as evidenced by the increasing operations of multinational corporations.

India introduces pharmaceutical industry' opportunities to potential Vietnamese investors

19:54 | 23/03/2023 Vietnam and other regions

Invest India, the National Investment Promotion & Facilitation Agency, had networking hybrid meet in Ho Chi Minh City, introducing investment opportunities in Indian pharmaceutical industry to potential Vietnamese investors.

Vietnam attracts Czech investors

06:00 | 23/03/2023 FDI

(VEN) - A delegation of top Czech companies, led by Czech Minister of Industry and Trade Jozef Síkela, visited Vietnam in February to explore investment and business opportunities.

Finance-Banking

Foreign investors expand consumer finance business in Vietnam

09:08 | 29/03/2023 Finance-Banking

Large foreign financial groups have actively penetrated the Vietnamese consumer finance market, which has significantly helped accelerate the digitalisation of the country’s financial services.

Stock market violations to face stricter sanctions

07:10 | 26/03/2023 Stock Market

The State Securities Commission (SSC) will review the Law on Securities and related decrees to complete the legal framework, and strengthen sanctions for violations to protect the legitimate rights and interests of investors.

Vietnam to develop policies to adapt to global minimum tax

07:05 | 23/03/2023 Finance-Banking

Vietnam will adjust investment policies to adapt to the global minimum tax rate and remain an attractive destination for investment.

Vietnam seeks response to corporate tax overhaul

06:00 | 20/03/2023 Finance-Banking

Environment

COP28 President-Designate to speak at Berlin Energy Transition Dialogue Conference

16:21 | 29/03/2023 Environment

Turning coffee grounds into energy

13:00 | 27/03/2023 Environment

(VEN) - Turning coffee grounds into biomass energy has helped the Nestlé Vietnam Co., Ltd save VND40-50 billion a year.

Vietnam saves 298,000 kWh during Earth Hour 2023

10:48 | 27/03/2023 Environment

With lights turned off for one hour starting 8:30 pm on March 25 in response to the 2023 Earth Hour campaign, Vietnam saved 298,000 kWh of electricity equivalent to about 555.6 million VND (23,617 USD), according to the Vietnam Electricity (EVN)’s National Load Dispatch Center.

The value of wood scraps for business

13:00 | 25/03/2023 Environment

(VEN) - Reusing scraps derived from most stages of wood exploitation and processing will increase business profits by two to three percent.

Science - Technology

A321neo: Breakthrough technology saves fuel consumption up to 20%

15:37 | 29/03/2023 Science - Technology

A321neo: Breakthrough technology saves fuel consumption up to 20%

AI to fuel development of modern agriculture workshop

10:19 | 28/03/2023 Science - Technology

Artificial intelligence (AI) has an important role to play in the development of modern and sustainable agriculture as it will help with farm automation and optimisation, from weather forecasting, plant and livestock health monitoring to product quality improvement, heard a workshop in Hanoi on March 23.

Vietnam, Thailand beef up sci-tech, educational collaboration

06:00 | 25/03/2023 Science - Technology

Thailand will further promote sci-tech and education cooperation with Vietnam, including a plan to teach Vietnamese at some local universities, affirmed Minister of Higher Education, Science, Research and Innovation (MHESI) Anek Laothamatas in a working session with Vietnamese Ambassador Phan Chi Thanh in Bangkok on March 20.

Science, technology, innovation promoted to support national development

Vietnam values financial grants from OFID

See also

See more news

Multimedia