Vietnam advances financial cooperation with Australia, Japan, Singapore
Vietnamese Finance Minister Ho Duc Phoc met bilaterally with Treasurer of Australia Jim Chalmers, Japanese State Minister of Finance Katsuo Yakura, and Singaporean Second Minister for Finance Indranee Rajah on November 12, on the occasion of their attendance at the 2023 APEC Finance Ministers’ Meeting in San Francisco.
Finance Minister Ho Duc Phoc meets with Treasurer of Australia Jim Chalmers. (Photo: VNA)
Washington (VNA) – Vietnamese Finance Minister H🃏o Duc Phoc metbilaterally with Treasurer of Australia Jim Chalmers, Japanese State Ministerof Finance Katsuo Yakura, and💜 Singaporean Second Minister for Finance IndraneeRajah on November 12, on the occasion of their attendance at the 2023 APECFinance Ministers’ Meeting in San Francisco.
The Vietnamese and Australian officials discussedAustralia's Southeast Asia economic strategy until 2040 and cooperation in climatechange response and sustainable finance, and explored the possibility ofsigning a memorandum of understanding on financial cooperation between the VietnameseMinistry of Finance (MoF) and the Department of Treasury of Australia. The MoF expects Australia to always valuestrategic partnership with Vietnam, Phoc said, adding that Vietnam treasuresAustralia’s priorities and support for climate change adaptation in the MekongDelta during the 2023-2034 period; improvement of the MoF officials’ capacityregarding policy systems to establish a carbon market and a legal framework forcarbon projects, carbon offsetting, and carbon credit trading; as well as bilateralenergy ties. Phoc expressed his hope that both sides willcontinue strengthening collaboration in financial areas related to climatechange, energy transition, carbon markets, and green bonds in the near future. Both pledged to furtherconsolidate bilateral ties to improve capacity and share experience infinancial and budget management, including taxation, customs, securities andcapital markets, through the signing of an MoU for the new period.
At a reception for Japanese State Minister of Finance Katsuo Yakura (L). (Photo: VNA)
Ata reception for Minister KatsuoYakura, Phoc suggested that said based on the new-generation OfficialDevelopment Assistance (ODA) framework agreed upon during Prime Minister Pham MinhChinh’s Japan visit in May 2022, the Japanese Government should support the implementation of the new ODA programne proposed by the MoF,focusing on transportation infrastructure, agriculture, and health care.
Sharingthe view that the two finance ministries have been working closely and effectively in the fields of taxation, customs, securities, insurance,debt financing and aid, they promised to support each other at multilateral andregional cooperation forums.
In their meeting, Phoc and the Singaporean minister commended the cooperation between thetwo economies, with a focus on financial collaboration in modernising customs,electronic customs, and managing securities markets. They also ac๊knowledgedSingapore's assistance in enhancing Vietnam's capacity in these priority areas.
Vietnam and Singapore are both active membersof regional financial cooperation, such as within ASEAN and ASEAN+3. Relevantagencies of both countries have been closely partnering in ASEAN working committeesgroups on cooperation in taxation, customs, insurance, financial servicesliberalisation, capital market development while collaborating on ASEAN+3initiatives, including the multilateralisation of the Chiang Mai Initiative(CMIM), the ASEAN+3 Asian Bond Markets Initiative (ABMI), and the ASEAN+ 3Macroeconomic Research Office (AMRO). Recognising the increasing role of ASEAN in globaland regional trade and investment, both ministers committed to stepping up theimplementation of free trade agreements between ASEAN and its partners, thus facilitatingtheir trade and investment and active involvement in global supply chains./.
Vietnam and Australia have successfully co-organised four experience exchange activities on women, peace and security with important and practical results in an effort to promote the implementation of the Women, Peace and Security (WPS) Agenda of the UN Security Council as well as women’s participation in and contributions to UN peacekeeping operations.
An international conference on digital healthcare is taking place in Hanoi with a view to enhancing Vietnam - Australia cooperation in the health system development and health security.
Nearly 300 athletes from Vietnamese localities and clubs and Japan competed at a Judo tournament celebrating the 50th anniversary of the establishment of Vietnam-Japan diplomatic ties, and the 2023 Open Judo Championship Ba Ria-Vung Tau in the southern province from November 9-11.
Prime Minister Pham Minh Chinh received President and CEO of Japan's Marubeni Corporation Masumi Kakinoki in Hanoi on November 13, expressing his hope that the group and other Japanese enterprises would continue expanding cooperation and investment in Vietnam’s priority development areas.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Finance Minister Ho Duc Phoc meets with Treasurer of Australia Jim Chalmers. (Photo: VNA) 
At a reception for Japanese State Minister of Finance Katsuo Yakura (L). (Photo: VNA) 
