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An overview of the forum (Photo: VNA)

Hanoi (VNA) – With a special strategic location and great economic development potential, the northern midland and mountainous region needs to roll out suitable measures to lure more investment, thus optimising its advantages to rise stronger, heard a forum held by the Vietnam Chamber of Commerce and Industry (VCCI).

Addressing the event, VCCI Vice Chairman Hoang Quang Phong said that the northern midland and mountainous region is currently still a poor area with poor regional connectivity.

According to the Government’s plan for the 2021-2030 period, the region’s gross regional domestic product (GRDP) is expected to expand 8-9% per year. In 2030, the region’s economic scale is hoped to hit about 2.1 quadrillion VND (85.97 billion USD), with a per capita GRDP of 140 million VND, and State budget collection of 190 trillion VND.

This ambitious target is feasible and reachable, said Phong, stressing that a new mindset, new vision and development roadmap will help the region make breakthrough growth in the future.

Hoang Quoc Khanh, Permanent Vice Chairman of the People’s Committee of Lao Cai province, said that one of the reasons behind slow economic growth of the region is poor transport connections among regional localities, which hinders trade and investment activities in the region.

Khanh proposed that the Government pay greater attention to the implementation of major projects on road, rail, waterway and air transport infrastructure systems to promote regional connectivity.

Participants evaluated the region’s policies, planning and development connection in the region and pointed to difficulties and challenges facing the region, while highlighting investment opportunities for businesses and investors and give suggestions on solutions to promote the region’s sustainable growth to achieve the target set by the Government.

Hoang Truong Giang, Deputy Director of the Department of Regional and Local Economy under the Party Central Committee’s Economic Commission pointed to three problems of the region –  slow planning, poor transport infrastructure system, and slow administrative reform and improvement of the local investment and business environment.

Giang underlined the need for close coordination among ministries, regional localities and businesses in untangle knots, thus faciliating investment flows into the region./.

Processing farm produce for export at An Giang Food and Vegetables JSC (Photo: VNA)

Hanoi (VNA) – Experts have recommended the acceleration of green transformation for businesses to help them avoid being excluded from the value chains as green consumption is becoming a trend and a widespread requirement across all segments and markets.

Ngo Chung Khanh, Deputy Director of the Multilateral Trade Policy Department under the Ministry of Industry and Trade (MoIT), said with complementary goods, two-way trade has seen impressive growth after three years of implementing the EU-Vietnam Free Trade Agreement (EVFTA). Many key export items of Vietnam recorded positive growth such as apparel, footwear and agro-aquatic products.

However, from the third year of the EVFTA implementation, these advantages and results have been somewhat affected by the EU’s increased application of higher standards and stricter requirements for quality, especially in the fields of environment and sustainable development, known as “green standards” for imported goods.

To maintain sustainable exports, Vietnamese businesses are forced to shift towards green production using modern technologies to ensure the supply of clean and green products and join the sustainable supply chains more deeply.

Vice Chairman of the European Chamber of Commerce in Vietnam (EuroCham) Jean Jacques Bouflet advised Vietnamese enterprises to ensure green standards by following stricter environment regulations, invest heavily in research and development, upgrade infrastructure, improve logistics capability and invest in workforce training.

A quick survey showed that nearly 70% of Vietnamese firms are aware of the EU’s “From farm to table” green strategy for agricultural and food products. Nearly 80% of respondents know the EU Deforestation Regulation (EUDR) while around 60% of apparel makers become aware of the bloc’s textile strategy.

Deputy Director of the MoIT’s Domestic Market Department Le Viet Nga said the MoIT has developed an action plan for the National Green Growth Strategy for the 2021-2030 period with a vision until 2050, as directed by the Prime Minister. Its  subordinate units have been assigned to work on this initiative.

According to Deputy Minister of Industry and Trade Do Thang Hai, the international supply chain connectivity (Outsourcing) activities from September 13-15 in Ho Chi Minh City helped firms deeply join the global production and supply chains, facilitating connections between distribution channels, foreign importers, domestic manufacturers and exporters. As a result, many contracts were signed and numerous transactions were initiated.

Vietnam is among the world’s top 3 coffee suppliers (Photo: baochinhphu.vn)

The MoIT also helped 120 companies join the ASEAN-China Expo (CAEXPO) in Nanning, China, where the Vietnamese exhibition area was the second largest, just after the host country. It has been actively promoting exports through cross-border e-commerce and improving the efficiency of customs clearance at border gates.

In the coming time, the MoIT will continue working with ministries, agencies, localities and firms to step up business activities, including exports, Hai said./.

India’s Road and Transport Minister, Nitin Gadkari, has announced that a draft policy to incentivize the use of alternative fuels in construction machinery has been prepared. The proposal will be submitted to the finance ministry for approval. Gadkari’s actions are in line with Prime Minister Narendra Modi’s goal of making India a carbon-neutral country by 2047. Gadkari has previously suggested that road construction companies switch to using alternative fuel-powered equipment to save costs.

Housing sales in seven major cities in India increased by 36% year-on-year to a record 120,280 units in the July-September period, according to real estate consultant Anarock. Average housing prices in these cities grew by 11% annually, with Hyderabad experiencing the highest rise of 18%. Mumbai and Pune accounted for 51% of total sales, and Anarock attributed the strong sales momentum to stable mortgage rates resulting from the Reserve Bank of India’s decision to maintain the repo rate.