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.
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.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
At a meeting in Singapore (Source: VNA) 
