Vietnam attends ASEAN economic meetings in Singapore
A Vietnamese delegation led by Deputy Minister of Industry and Trade Tran Quoc Khanh attended the ASEAN Economic Community Council Meeting and the Preparatory Meeting of the ASEAN Economic Ministers’ Meeting in Singapore on November 12.
Singapore (VNA) – A Vietnamese delegation led byDeputy Minister of Industry and Trade Tran Quoc Khanh attended the ASEANEconomic Community Council Meeting and the Preparatory Meeting of the ASEANEconomic Ministers’ Meeting in Singapore on November 12.
Deputies discussed issues regarding economic and tradecooperation, as well as intra-bloc investment; reviewed Singapore’s prioritiesand initiatives for 2018; and updated the progress of activities towards achievingthe ASEAN Economic Community 2025 goals.
Such contents will be submitted to the 33rd ASEAN Summit andrelated meetings from November 13-15.
Ministers agreed on the fourth protocol amending the ASEANComprehensive Investment Agreement, which will promote the construction of anopen, free, and transparent investment region that is pointed towards globalintegration.
Regarding the ASEAN Trade in Services Agreement – one of Singapore’sbiggest priorities during its tenure of the ASEAN Chairmanship, negotiationshave been concluded and the deal’s legal review is currently underway.
Participants debated new fields proposed by partnercountries for future free trade agreements and wider cooperation frameworks.
Singaporean Minister of Trade and Industry Chan Chun Sing presenteda brief on the ASEAN member states’ ratification of the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership.
During the sixth preparatory Regional Comprehensive EconomicPartnership (RCEP) Trade Ministers’ Meeting, ministers looked into importantorientations directed by leaders that would enable a consensus on marketopening, services and investment, and intellectual property, towards basicallyconcluding RCEP negotiations later this year.
On the occasion, ASEAN economic ministers signed the ASEANE-Commerce Agreement to promote cross-border trade in the region, narrow the developmentgap, and fuel sustainable development. It is the bloc’s first independent dealin e-commerce so far, contributing to creating a safe and trustworthyenvironment for both businesses and individuals. –VNA
Singapore has enhanced security measures and prepared plans to ensure smooth traffic during the 33rd ASEAN Summit and related summits, slated for November 11 to 15.
The 33rd ASEAN Summit, slated for November 13-15 in Singapore, will focus on strengthening intra-bloc cooperation and connections, building a resilient and innovative ASEAN Community and sketching out ASEAN orientations for following years.
Singaporean Prime Minister Lee Hsien Loong on November 12 called on ASEAN member countries to open their market and strengthen integration amidst the increasing protectionism in the world.
Economic ministers from the Association of Southeast Asian Nations (ASEAN) on November 12 signed an agreement to facilitate cross-border e-commerce transactions within the region.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
At a meeting in Singapore (Source: VNA) 
