Tag: vietnam

Categories
-Top News USA World News

US, Vietnam Forge Stronger Bonds As China Flexes Muscles

US President Joe Biden will make a state visit to the country and is also expected to announce a deal to strengthen the economic ties…reports Asian Lite News

The United States and Vietnam are boosting their economic and tech ties as China is increasing its assertiveness in the region, The Washington Post reported.

In a bid to make stronger relations with Vietnam, US President Joe Biden will make a state visit to the country and is also expected to announce a deal to strengthen the economic ties between the two countries.

Vietnam is also trying to make the ties between the two countries stronger. The establishment of a “comprehensive strategic partnership” will give the United States a diplomatic status that Vietnam has so far reserved for only a handful of other countries: China, Russia, India and South Korea.

This move showed that Vietnam is willing to risk angering China but sees the move toward the US as necessary given how aggressively China is flexing its military muscle in the region, The Washington Post reported citing analysts.

“If you have the United States on the same pedestal as China, that is saying a lot to Beijing, but also to the rest of the region and the world,” said Derek Grossman, a senior defence analyst at Rand Corp and former US intelligence officer.

“That’s saying the US-Vietnam relationship has come a long way since 1995,” when the two countries normalized relations.

The agreement, proposed by the Biden administration in recent months, flows from a US strategy to build economic and security partnerships in the Indo-Pacific that can serve as a bulwark against Chinese economic and military coercion.

The agreement is expected to lead to greater economic activity between the two countries, as the United States seeks to diversify its manufacturing supply chains away from China and as Vietnam aspires to develop advanced technologies.

American semiconductor firms have expressed “a willingness to support them in that ambition,” said a senior Biden administration official, speaking on the condition of anonymity because the agreement has not yet been announced.

The United States is now the top destination for exports from Vietnam, which has made a dramatic economic transformation over the past two decades, reported The Washington Post.

VinFast, the country’s leading electric vehicle manufacturer, is now selling its sleek SUVs in California and recently held an initial public offering of its stock on the Nasdaq.

American companies have likewise shown a willingness to do business: Apple and Google suppliers have invested heavily in new factories in Vietnam, and a major announcement is expected from Boeing, which said earlier this year that it intends to expand its footprint in the country.

The upgrade in relations also stands to boost defence and security cooperation between the United States and Vietnam.

Hanoi and Washington are expected to increase US aircraft carrier visits, joint military exercises and arms sales, officials said. Among the top buyers of Russian arms, Vietnam has said publicly it wants to diversify its military arsenal, as per The Washington Post. (ANI)

ALSO READ: Vivek Ramaswamy’s Taiwan Policy Proposal Sparks Political Discussion

Categories
-Top News Politics USA

Biden to visit Vietnam amid China tensions

The United States and Vietnam have increasingly close trade links, while both share concern over China’s growing strength in the region…reports Asian Lite News

President Joe Biden said Tuesday he would travel to Vietnam “shortly” as part of an effort to improve ties with Hanoi, as Washington seeks to counter China’s influence in the region.

“I’m going to be going to Vietnam shortly because Vietnam wants to change our relationship and become a partner,” Biden said during remarks in New Mexico.

“We find ourselves in a situation where all these changes around the world are taking place at a time we have an opportunity … to change the dynamic,” he added.

The United States and Vietnam have increasingly close trade links, while both share concern over China’s growing strength in the region.

Friction has been increasing for years between Beijing and Southeast Asian nations, particularly Vietnam and the Philippines, over China’s sweeping maritime claims in the South China Sea.

Washington and Hanoi pledged in April to upgrade diplomatic ties when US Secretary of State Antony Blinken stopped over on his way to a Group of Seven (G7) foreign ministers’ meeting in Japan.

“We think this is an auspicious time to elevate our existing partnership,” Blinken told reporters during the visit with Vietnamese leaders.

“We’ve had for the last 10 years this comprehensive partnership that has created an incredibly strong foundation of cooperation across many different areas. As a result, we think this is a good moment to go even further.”

Blinken also attended a ground-breaking opening for a new US embassy in Hanoi.

And in March, Biden spoke with the head of Vietnam’s ruling Communist party, Nguyen Phu Trong.

Washington has, however, bristled over human rights concerns in Vietnam, with Blinken saying he continued “to underscore how future progress on human rights is essential to unleashing the full potential of the Vietnamese people.”

The South China Sea, the longtime center of tensions between China and Vietnam, is seen as a powder keg, and many fear a miscalculation or accident could ignite a military conflict.

Analysts say Hanoi may be more reluctant to elevate relations with Washington, wary of upsetting Beijing — an important economic partner — despite rival claims in the South China Sea.

The United States has no territorial claim over the waters, but has persisted in conducting its own patrols there, angering Beijing.

Washington says this is to ensure what it terms “freedom of navigation” in the sea, through which trillions of dollars in trade passes annually.

The United States has also sought to improve relations with China in recent months, with Blinken visiting in June after a previous trip was canceled when an alleged Chinese spy balloon was shot down by a US warplane after traversing the country earlier this year.

Last month, Treasury Secretary Janet Yellen met with Vietnamese officials in a visit aimed at fortifying America’s relations across Asia. Yellen had arrived in Vietnam after visits to Beijing and to India, where she attended financial meetings of the Group of 20 major industrial economies.

“The United States considers Vietnam a key partner in advancing a free and open Indo-Pacific,” Yellen had told Vietnamese Prime Minister Pham Minh Chinh, according to remarks provided by the U.S. Treasury Department.

Yellen’s visit is part of concerted U.S. efforts to balance China’s growing influence in the Indo-Pacific. Earlier this year, Secretary of State Antony Blinken visited Vietnam weeks after the 50th anniversary of the U.S. troop withdrawal that marked the end of America’s direct military involvement in Vietnam. He pledged to boost relations to new levels.

Diplomatic relations between the two countries were only restored in 1995. Since then, bilateral trade has grown, reaching a high of $138 billion in goods trade last year.

China’s border is less than 60 miles (96 kilometers) from Hanoi and Vietnam, like many of China’s neighbors, has had maritime and territorial disputes with Beijing in the South China Sea. The two sides fought a brief war in 1979. But China is Vietnam’s biggest trading partner.

Yellen also met Thursday with the governor of Vietnam’s central bank, Nguyen Thi Hong, and announced a new economic policy dialogue between the State Bank of Vietnam and the U.S. Treasury Department.

She thanked Nguyen for the “close cooperation” between the U.S. and the State Bank of Vietnam to address American concerns over Vietnam’s currency practices. She added that the U.S. would remain supportive of Vietnam’s growth and that this would be beneficial for both Vietnamese and American people.

Vietnam has quickly become a major export production hub for global manufacturers like South Korea’s LG and Samsung Electronics, suppliers to Apple, Inc. and auto makers like Honda and Toyota.

ALSO READ: Biden to depart for Delhi on Sept 7 to attend G20 summit

Categories
-Top News Asia News World News

Israel, Vietnam ink FTA

The agreement will facilitate the activity of Israeli exporters in the growing Vietnamese market…reports Asian Lite News

Israel and Vietnam have signed a free trade agreement, said a statement from the Israeli Ministry of Economy and Industry.

The agreement was signed in Jerusalem on Tuesday by Israeli Economy Minister Nir Barkat and Vietnamese Minister of Industry and Trade Nguyen Hong Dien, in the presence of Israel’s Prime Minister Benjamin Netanyahu and Vietnam’s Deputy Prime Minister Tran Luu Quang, Xinhua news agency reported.

The agreement will facilitate the activity of Israeli exporters in the growing Vietnamese market, thereby contributing to the Israeli economy’s growth, the statement noted, adding that it will also help reduce the costs of imports from Vietnam.

Vietnam thus became the first country in the Association of Southeast Asian Nations to have a free trade agreement with Israel.

In 2022, the trade volume between Israel and Vietnam was $1.46 billion, including trade in goods and services, according to the ministry.

The volume of bilateral trade in goods stood at $168.9 million in the first six months of 2023, according to a report issued by Israel’s Central Bureau of Statistics on Monday.

Israel exports to Vietnam mainly chemicals, machinery, medical and optical equipment, rubber, and plastics, and imports from Vietnam machinery, fresh agricultural produce, and food products, among others, according to the report.

ALSO READ: ‘Israel’s judicial overhaul could set fire to Middle East’

Categories
-Top News India News

India, Vietnam may ink BrahMos deal during defence minister’s visit

Will New Delhi and Hanoi inch closer to BrahMos deal during Vietnamese defence minister’s visit?(IN)

The visit follows last month’s talks between Prime Minister Narendra Modi and Vietnam PM Pham Minh Chinh on the sidelines of the G-7 summit in Hiroshima…reports Asian Lite News

One year after the signing of a ‘Joint Vision Statement on Defence Partnership towards 2030’, the India-Vietnam show of camaraderie will be on full display once again as the country’s Defence Minister General Phan Van Giang travels to New Delhi on a two-day visit starting Sunday.

General Giang, who is also a Politburo member of Vietnam’s Communist Party and Deputy Secretary of the Central Military Commission, will call on Rajnath Singh on Monday as the two ministers advance defence ties.

The visit follows last month’s talks between Prime Minister Narendra Modi and Vietnam PM Pham Minh Chinh on the sidelines of the G-7 summit in Hiroshima.

During their discussion, the two leaders noted the steady progress achieved in the bilateral Comprehensive Strategic Partnership and agreed to enhance high-level exchanges and deepen bilateral trade and investment ties.

They also discussed opportunities in the fields of defence, building resilient supply chains, energy, science and technology, human resource development, culture and people-to-people ties.

Interestingly, after the Philippines, Vietnam too has shown interest in acquiring BrahMos – the potent offensive missile weapon system developed through the joint venture between India (DRDO) and Russia (NPOM) – to strengthen its coastal defence operations.

More than a decade ago, Russia had supplied Vietnam with mobile coastal missile system Bastion with a unified supersonic homing anti-ship missile Yakhont.

Vietnam remains an important pillar of India’s Act East Policy and a key partner of its Indo-Pacific Vision underlined by PM Modi’s Security and Growth for All in the Region (SAGAR) initiative.

Signalling its desire to have a less intertwined future with China, Hanoi has been deepening the Comprehensive Strategic Partnership with New Delhi since 2016 to maintain peace, prosperity and stability in the Indo-Pacific region and beyond.

Last June, during his visit to the Vietnamese capital at the invitation of his counterpart, Singh spotlighted that both countries share a rich history of civilisational and cultural linkages spanning over 2,000 years.

Besides signing the Joint Vision Statement on India-Vietnam Defence Partnership towards 2030 which significantly enhances the scope and scale of existing bilateral defence cooperation, a Memorandum of Understanding (MoU) on Mutual Logistics Support was also inked during the Defence Minister’s Vietnam visit.

This was dubbed as a major step towards simplifying procedures for mutually beneficial logistic support and was the first such major agreement which Vietnam signed with any country.

India also handed over 12 High-Speed Guard Boats to the Southeast Asian country at Hong Ha Shipyard in Hai Phong as Singh invited Vietnam to become a part of India’s defence industrial transformation through enhanced cooperation that will take forward PM Modi’s vision of ‘Make in India, Make for the World’.

“Defence engagements between the two nations have diversified to include wide-ranging contacts between the services, military-to-military exchanges, high-level visits, capacity building and training programmes, cooperation in UN Peacekeeping, ship visits and bilateral exercises,” the Indian Defence Ministry said in a statement on Saturday.

Two months ago, Vietnam’s Minister of Public Security General To Lam was in New Delhi for two days with a high-ranking delegation at the invitation of National Security Advisor (NSA) Ajit Doval.

A detailed plan to enhance the linkages on strategic, security and defence matters was worked out as both expressed concerns about actions and incidents in the South China Sea that erode trust in the region.

With India being the current chair of the world’s leading group of developed and emerging economies (G20), Vietnam has thanked India for highlighting the perspectives and concerns of the Global South and always supporting its role in the Association of Southeast Asian Nations (ASEAN).

India and Vietnam also have convergences in the wider maritime context. In October 2021, India and ASEAN adopted a Joint Statement on Cooperation on the ASEAN Outlook on the Indo-Pacific for Peace, Stability and Prosperity in the Region.

All three service Chiefs of the Indian Armed Forces have visited Vietnam over the last few years while the Commanders-in-Chief of the Vietnam People’s Navy and Vietnam People’s Air Force have visited India.

Two Indian Naval Ships, INS Shivalik and INS Kamorta paid port calls to Ho Chi Minh City Port in November 2022 and INS Delhi and INS Satpura made a port call at Da Nang Port from May 19 to May 22, last month.

ALSO READ-Russian ambassador lauds BrahMos Aerospace on its Silver Jubilee

Categories
-Top News UAE News World News

UAE, Vietnam discuss boosting joint cooperation

The top officials reviewed the development of bilateral relations in light of the 30th anniversary of their establishment…reports Asian Lite News

H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, discussed with Pham Minh Chinh, Prime Minister of Vietnam, bilateral cooperation ties and ways to enhance them in various domains, including economic, trade and investment.

During the meeting, which comes within the framework of Sheikh Abdullah’s work visit to Hanoi, the UAE Minister of Foreign Affairs conveyed the greetings of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to the Vietnamese Prime Minister and his wishes for Vietnam and its people for progress and prosperity.

In turn, Prime Minister Pham Minh Chinh conveyed his greeting to His Highness Sheikh Mohammed bin Rashid Al Maktoum and his wishes for the UAE and its people for further progress and prosperity.

The top officials reviewed the development of bilateral relations in light of the 30th anniversary of their establishment, and discussed several issues of mutual interest related to promoting cooperation on the economic and trade level, as well as the two countries’ efforts to reach a comprehensive economic partnership agreement.

They also touched on joint cooperation in combating climate change and the UAE’s preparations to host the United Nations Climate Change Conference of the Parties (COP28) in Expo City Dubai later this year.

Sheikh Abdullah bin Zayed highlighted the two countries’ keenness to develop and strengthen their diplomatic relations, which were established in 1993, and reach a comprehensive economic partnership agreement that supports their development goals and aspirations.

He further expressed his hopes for the participation of Vietnam in COP28 this year, which would contribute to enriching the agenda of the global event.

The meeting was attended by Saeed Mubarak Al Hajri, Assistant Minister for Economic and Commercial Affairs; Omran Sharaf, Assistant Minister of Foreign Affairs for Advanced Science and Technology; Maha Barakat, Assistant Minister of Foreign Affairs for Health; and Dr. Bader Abdullah Al Matrooshi, UAE Ambassador to Vietnam.

ALSO READ: OPEC lauds UAE’s economic resilience

Categories
-Top News India News World News

India and Vietnam to forge stronger marine research and connectivity

During the dialogue, the two sides deliberated on ways to sustain a secure maritime environment conducive for inclusive growth and global well-being….reports Asian Lite News

India and Vietnam pledged to further strengthen their shared efforts and existing frameworks in areas such as marine scientific research, Humanitarian Assistance and Disaster Relief (HADR), maritime connectivity and maritime security, including Navy and Coast Guard co-operation, maritime law enforcement and capacity building, the Ministry of External Affairs (MEA) said on Wednesday.

The 3rd India-Vietnam Maritime Security Dialogue was held in the national capital, New Delhi, on Wednesday. The Indian delegation was led by Muanpuii Saiawi, Joint Secretary (Disarmament and International Security Affairs), Ministry of External Affairs and the Vietnamese delegation by Ambassador Trinh Duc Hai, Vice Chairman, National Boundary Commission. The delegations comprised senior officials from the respective ministries and services concerned with maritime affairs.

During the dialogue, the two sides deliberated on ways to sustain a secure maritime environment conducive for inclusive growth and global well-being. They reviewed ongoing cooperation in the maritime domain and avenues of reinforcing international and regional mechanisms for comprehensive maritime security.

India and Vietnam also discussed ways to maintain a maritime environment that is secure and supportive of inclusive growth for both nations.

“3rd India-Vietnam Maritime Security Dialogue held today in New Delhi. Senior officials from the respective Ministries and Services concerned with maritime affairs participated in the Dialogue,” the official spokesperson of the Ministry of External Affairs, Arindam Bagchi, tweeted on Wednesday.

“Also reviewed maritime cooperation initiatives and avenues of reinforcing international and regional mechanisms for comprehensive maritime security,” Bagchi added.

Notably, the second India-Vietnam Maritime Security Dialogue was held in April 2021 in the virtual format while the first was held in Hanoi in March 2019. “India and Vietnam held their second maritime security dialogue in a virtual format on 6 April 2021. The consultations involved exchanges on developments in the domain of maritime security, regional cooperation activities and opportunities for cooperation between the two countries,” the MEA said in a statement.

The two nations share warm and cordial ties. Recently, at the G7 Summit in Hiroshima, Japan, Prime Minister Narendra Modi held a bilateral meeting with his Vietnamese counterpart Pham Minh Chinh.

Both leaders discussed various aspects of the partnership between the two nations, including in defence.

“Prime Ministers @narendramodi and Pham Minh Chinh held talks in Hiroshima. They discussed different aspects of India-Vietnam friendship, particularly in areas like energy, technology, commerce and defence,” the Prime Minister’s Office tweeted. (ANI)

ALSO READ: EU seeks role to connect India with Nepal, Bhutan and B’desh

Categories
-Top News India News World News

Vietnam deepens ties with India for regional stability

Wary of China, Vietnam bonds with India in Indo-Pacific waters.(photo:IN)

The two countries signed a Joint Vision Statement on India-Vietnam Defence Partnership towards 2030′ which significantly enhances the scope and scale of existing bilateral defence cooperation…reports Ateet Sharma

Signalling its desire to have a less intertwined future with China, Vietnam has vowed to deepen the Comprehensive Strategic Partnership with New Delhi to maintain peace, prosperity and stability in the Indo-Pacific region and beyond.

Leading a high-ranking delegation to New Delhi at the invitation of National Security Advisor (NSA) Ajit Doval, Vietnam’s Minister of Public Security General To Lam spent two days in the Indian capital at the start of this week, jointly mapping out the future defence and security cooperation between the two countries.

At the talks, NSA Doval and General To Lam, who is also the Politburo Member of Vietnam’s Communist Party, worked on a detailed plan to enhance the linkages on strategic, security and defence matters.

The Vietnamese minister suggested that in the coming time, the two sides continue to strengthen comprehensive cooperation in the fields of defence, security, economy, digital transformation, green economy and creating favourable conditions for people-to-people exchanges.

With India being the current chair of the world’s leading group of developed and emerging economies (G20), General To Lam said that Vietnam wants New Delhi to play a bigger role in the international arena, especially in the United Nations. He also thanked India for always supporting Vietnam’s role in the Association of Southeast Asian Nations (ASEAN).

Both leaders further reaffirmed the importance of maintaining and promoting peace, stability, maritime safety and security and freedom of navigation and overflight in the Indo-Pacific Region.

India, which has expressed concerns about actions and incidents in the South China Sea that erode trust in the region, stressed the importance of the UN Convention on the Law of the Sea (UNCLOS) and reaffirmed that any differences must be resolved peacefully by respecting international law, without resorting to threats, aggression or the unilateral or forceful change in the status quo.

In subsequent meetings with Vice President Jagdeep Dhankhar and Minister of State of Home Affairs Nityanand Rai, General To Lam asserted that India and Vietnam should strengthen cooperation to deal with many “complicated” traditional and non-traditional security challenges in the region.

Vietnam remains an important pillar of India’s Act East Policy and a key partner of its Indo-Pacific Vision underlined by Prime Minister Modi’s Security and Growth for All in the Region (SAGAR) initiative.

India and Vietnam have shared a Comprehensive Strategic Partnership since 2016 and defence cooperation remains a key pillar of this partnership.

Last June, during his visit to Hanoi at the invitation of his Vietnamese counterpart General Phan Van Giang, Defence Minister Rajnath Singh spotlighted that both countries share a rich history of civilisational and cultural linkages spanning over 2,000 years.

The two countries signed a �Joint Vision Statement on India-Vietnam Defence Partnership towards 2030′ which significantly enhances the scope and scale of existing bilateral defence cooperation.



During Singh’s visit, a Memorandum of Understanding (MoU) on Mutual Logistics Support was also inked which is a major step towards simplifying procedures for mutually beneficial logistic support and is the first such major agreement which Vietnam has signed with any country.

At the same time, bilateral defence engagements continue to expand through Defence Policy Dialogues, military-to-military exchanges, high-level visits, capacity building and training programmes, cooperation in UN Peacekeeping, ship visits and bilateral exercises.

Handing over 12 High-Speed Guard Boats to the Southeast Asian country during his visit to Hong Ha Shipyard in Hai Phong last year, Singh invited Vietnam to become a part of India’s defence industrial transformation through enhanced cooperation which will take forward PM Modi’s vision of �Make in India, Make for the World’.

(The content is being carried under an arrangement with indianarrative.com)

ALSO READ: India and Vietnam looking to boost security linkages

Categories
India News World News

India and Vietnam looking to boost security linkages

“The leaders reiterated the commitment on both sides to further deepen the Comprehensive Strategic Partnership between the two countries…reports Asian Lite News

Participating in a delegation-level meeting on bilateral security cooperation in New Delhi on Monday, India and Vietnam reiterated their commitment to deepen their Comprehensive Strategic Partnership.

The Indian delegation was headed by National Security Advisor Ajit Doval. The Vietnamese side was led by Politburo Member of the Communist Party of Vietnam and Minister of Public Security General Ph. To Lam.

“The leaders reiterated the commitment on both sides to further deepen the Comprehensive Strategic Partnership between the two countries and enhance the linkages on strategic, security and defence matters, contributing to maintaining peace, prosperity and stability of both countries, the region and the world at large,” India’s Ministry of External Affairs (MEA) said.

According to the MEA, they noted the discussions held during the Second India- Vietnam Deputy Ministerial Security Dialogue held in September 2022 in New Delhi. The two sides agreed to strengthen the ongoing cooperation in exchanges, capacity building and training of officials from the Ministry of Public Security of Vietnam.

The leaders further reaffirmed the importance of maintaining and promoting peace, stability, maritime safety and security and freedom of navigation and overflight in the Indo-Pacific Region, the MEA said.

Both sides also emphasized the importance of the UN Convention on the Law of the Sea (UNCLOS) and reaffirmed their belief that any differences must be resolved peacefully by respecting international law, without resorting to threats, aggression or the unilateral or forceful change in the status quo. They also exchanged views on the recent developments in their respective regions.

The Vietnamese Minister of Public Security also made a call on Vice-President Jagdeep Dhankhar. According to a tweet from the Vice-President’s official Twitter handle, they discussed the significance of strengthening the India-Vietnam Comprehensive Strategic Partnership and the broad domain of security. (India News Network)

ALSO READ: Gadkari visits Asia’s longest, Zojila Tunnel in J&K

Categories
-Top News UAE News World News

UAE, Vietnam set to launch CEPA talks

During his meeting with the Vietnamese minister, Al Zeyoudi underlined the strong and solid bilateral relations between the UAE and Vietnam…reports Asian Lite News

The UAE and Vietnam signed a joint declaration of intent to launch talks on establishing a comprehensive economic partnership agreement (CEPA) between the two countries. The declaration was signed by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; and Nguyễn Hồng Diên, Vietnamese Minister of Industry and Trade, during a visit by a Vietnamese delegation to the UAE.

During his meeting with the Vietnamese minister, Al Zeyoudi underlined the strong and solid bilateral relations between the UAE and Vietnam, which continue to grow in all fields, particularly trade and the economy. The launch of CEPA negotiations is the result of a shared aspiration on the part of both governments to elevate the existing trade and economic ties to new heights.

Al Zeyoudi said, “The UAE is Vietnam’s number one Arab trade partner, accounting for 39 percent of its total trade with the Arab countries. The volume of non-oil trade between the two sides reached AED 29.4 billion (around US$8 billion) in 2022. The trade in goods other than mobile phones and their accessories, which grew to 46 percent from less than 36 percent in 2019, is promising. It totalled AED 13.5 billion (over US$3.5 billion) last year, up 9 percent from 2021, and with a 34 and 26 percent growth from 2020 and 2019 respectively.”

He added, “We look forward to strengthening our economic and trade partnerships through the UAE’s global economic partnerships programme, especially since Vietnam is our largest trade partner in the ASEAN as of 2022. We are pleased to begin the process towards signing a CEPA. The agreement will boost economic and trade cooperation in unprecedented ways, support the private sector’s access to both markets, and drive new investment opportunities, which will result in a higher volume of trade exchanges.”

Both sides addressed promoting joint collaboration in the fields of trade, investment, economy, industry, energy, logistics, agriculture, and infrastructure as the CEPA process unfolds. During the meeting, Al Zeyoudi highlighted the UAE’s success in creating an environment rich with promising investment opportunities in various sectors. The comprehensive development of the UAE’s economic legislation, which enabled full foreign ownership of companies and significantly enhanced the ease of doing business, has reinforced the country’s position as a global hub for trade and investment, he noted.

Furthermore, Al Zeyoudi urged the Vietnamese private sector to take advantage of the UAE’s NextGenFDI initiative, which offers a wide array of incentives to participants. These include relocation support; easy access to bank financing and commercial and residential rental incentives; and expedited business set up process and issuance of licences, visas, and golden visas, which ensure a smoother market entry process for management and employees.

Vietnam’s Minister of Trade Nguyen Hong Dien said there was huge “potential and opportunities from the agreement for both countries. The UAE has strengths as a trans-shipment, financial and logistics centre, while Vietnam is also becoming a factory for many crucial, global industries”.

“The combination of the two countries’ competitive advantage will create momentum for trade and investment growth in the near future,” he said. The Minister announced that Vietnam had completed a feasibility study on a future agreement, which they viewed as important preparation ahead of deciding on the start of negotiations. He said that Vietnam also appreciated the technical teams’ timely discussions on the draft Terms of Reference (TOR) of this agreement, which means that the two sides can start on the substantive negotiation phase immediately after the negotiating mandate is approved by the Leaders.

The UAE’s investments in Vietnam total AED 260 million (US$71 million). Leading UAE companies with investments in the Vietnamese market include DP World, Emirates Investment Authority, Mubadala, and Borouge.

ALSO READ: Talent outsourcing in UAE to reach $6.8b by year-end

Categories
Lite Blogs Travel & Tourism

Budget friendly must-visit countries for Indian globetrotters

Budget-friendly international destinations to visit.(photo:IANSLIFE)

Bali, an island in Indonesia, is a popular destination on many people’s bucket lists for a good reason. Bali sings of a harmonious fusion of people and food, green and blue water bodies, primitive culture and environment…writes N. Lothungbeni Humtsoe

Travelling is not just leisure, for many people it is a way of life, a necessity to suffice innate cravings. International travel is full of excitement, delight, and, most importantly, adventure. The most important consideration while deciding on a vacation is the budget.

Planning a budget trip can be challenging, and if you are looking for an international destination, Alapati Krishna Mohan, MD – Southern Travels shares a handy list of must-visit countries for Indian globetrotters.

Vietnam

One of the most well-known places in the world for travellers and is also one of the pocket-friendly countries to visit from India. With its abundant natural beauty, cultural legacy, and history, you will surely leave with a satisfied soul.

Tourists are drawn to adventure activities such as sightseeing, yacht or boat cruises, local market tours, caving, cultural tours, island tours, and wildlife tours. Some must-visit places in Vietnam are Hanoi, HoChi Minh City, Sapa, NhaTrang, Mekong Delta, and the UNESCO World Heritage Site of Ha Long Bay. Furthermore, a quality trip to Vietnam for three to four nights will cost you somewhere around Rs 25,000.
Malaysia

Malaysia is a Southeast Asian country that includes the Malay Peninsula as well as the island of Borneo. It is famous for its beaches, rainforests, and a cultural blend of Malay, Chinese, Indian, and European influences. Lodging for three to four days trip to Malaysia will cost you around Rs 12,000.
Trekking in Taman Negara National Park, seeing the culture of Kota Bharu, and observing orangutans at Sepilok are all options to explore the beauty of Malaysia. Also, make sure a refreshing sunbathe in Langkawi, Petronas Towers in Kuala Lumpur, Tunku Abdul Rahman National Park, and escape to Genting Highlands.

Budget-friendly international destinations to visit.(photo:IANSLIFE)

Thailand

Thailand is the most popular tourist destination for travellers on a tight budget since it allows you to mingle with gregarious and friendly locals and offers a variety of activities to do. The night skyline, authentic spas to soothe your senses, clubbing, swimming in turquoise waters, affordable street food, and high street markets of Bangkok and Pattaya are those fun activities in Thailand where you can discover anything you’re interested in. And last but not least, the friendly and laid-back Thai people are the best hosts to make your journey memorable.
Bangkok for its city parties, Pattaya for its nightlife, Chiang Rai for mountain hiking, KohSamui, and Krabi for their gorgeous, undeveloped beaches are just a few of the destinations that one must visit.
Additionally, accommodation for a four-day trip to Thailand will run you about Rs 12,000 in total.

Budget-friendly international destinations to visit.(photo:IANSLIFE)

Bali

Bali, an island in Indonesia, is a popular destination on many people’s bucket lists for a good reason. Bali sings of a harmonious fusion of people and food, green and blue water bodies, primitive culture and environment, etc. The paradise island is full of varieties; within a few hours, you can travel from a beach to a rainforest to a mountain.
Along with taking advantage of Bali’s nightlife, you can explore Uluwatu, Ubud, Jimbaran, and many islands. You can also check out some of Bali’s top eateries because there aren’t many places to get a bad meal on the island. Additionally, the neighbourhood “warungs” frequently have very low prices and serve Balinese specialities like NasiGoreng (fried rice) and Mie Goreng (fried noodles).
And, four days of accommodation in Bali will cost you around Rs 20,000.

Budget-friendly international destinations to visit.(photo:IANSLIFE)

Baku

One of the most exciting new tourist attractions is Baku, an exciting fusion of oil-driven modernity and Asian traditions. Modern skyscrapers contrast with the historic mosques and other local features in the city, which gives a beautiful blend of old and contemporary architecture. It is the perfect unexplored tourist destination, and there are many things to do there, such as trying the local cuisine, touring mediaeval palaces, or taking a stroll through the city to take in the more modern architecture.
You can visit the Palace of the Shirvanshahs and the renowned stone Maiden Tower, both of which are located in the mediaeval-walled old city. Also, you can explore and witness the contemporary landmarks, which include the Zaha Hadid’s designed Heydar Aliyev Center and the Flame Towers, three-pointed skyscrapers covered with LED screens.
Overall, the four-day stay in Baku will somewhere cost you Rs 18,000.

ALSO READ-Basic things to carry while travelling with baby