Vietnam a priority in Algeria’s economic development policies
Vietnam is always a priority in Algeria’s policy of developing economic-trade relations in Southeast Asia, Algerian Minister of Trade Mohamed Benmeradi said while receiving Vietnamese Ambassador to Algeria Pham Quoc Tru and Trade Counselor Hoang Duc Nhuan on November 14.
At a meeting between Algerian Minister of Trade Mohamed Benmeradi and Vietnamese Ambassador to Algeria Pham Quoc Tru and Trade Counselor Hoang Duc Nhuan (Source Vietnamese Embassy in Algeria)
Algiers (VNA) – Vietnam is always apriority in Algeria’s policy of developing economic-trade relations inSoutheast Asia, Algerian Minister of Trade Mohamed Benmeradi said whilereceiving Vietnamese Ambassador to Algeria Pham Quoc Tru and Trade CounselorHoang Duc Nhuan on November 14.
Benmeradi said Algeria wants to elevate bilateraltrade ties to the same level as their sound political relations.
He added that Algeria is diversifying its economy toavoid dependence on oil and gas. In 2018, the Algerian government will considerremoving its wood import ban.
To promote bilateral trade, the two sides agreed tocontinue improving legal frameworks, re-negotiate a bilateral free tradeagreement (inked in 1994), and facilitate businesses’ operations.
They decided to increase trade promotion activities,enable enterprises to partake in trade events in their respective countries,and inform each other about changes in new policies and trade measures.
Vietnam and Algeria also agreed to set up cooperativeties in the banking sector and build a coordination mechanism to helpbusinesses address trade disputes.
The aforesaid plans will be debated at theinter-governmental committee’s meeting, scheduled to take place in Algiers laterthis month.
Ambassador Tru said Vietnam exported 241 million USDworth of goods to Algeria in the first ten months of 2017, a year-on-year riseof 6.8 percent.
According to the General Department of VietnamCustoms, two-way trade increased 17 percent to reach 273.6 million USD in 2016,with Vietnam exporting 271 million USD worth of goods.-VNA
Vietnam’s exports to Algeria continued to grow by 29 percent year-on-year to 208 million USD in the first seven months of 2017 after rising by 37 percent in the first half of the year.
Over 50 local enterprises in tourism, and palm, rice, beverage, building materials and machinery production and business attended a conference for Vietnam-Algeria trade and investment promotion in Biskra province on October 5.
Vietnam’s aquaculture, fishery industry and seafood are on display at the seventh International Exhibition of Fishing and Aquaculture (SIPA 2017) which is underway in Oran, Algeria from November 9-12.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
At a meeting between Algerian Minister of Trade Mohamed Benmeradi and Vietnamese Ambassador to Algeria Pham Quoc Tru and Trade Counselor Hoang Duc Nhuan (Source Vietnamese Embassy in Algeria)
