Vietnam becomes ninth largest trade partner of Myanmar
Trade between Vietnam and Myanmar reached 860 million USD in 2018, making Vietnam the 9th largest trade partner of Myanmar, it was reported at a meeting between Deputy Prime Minister Vuong Dinh Hue and Myanmar Minister of Planning and Finance Soe Win on June 18.
Deputy Prime Minister Vuong Dinh Hue (R) and Myanmar Minister of Planning and Finance Soe Win (Photo: baochinhphu.vn)
Hanoi (VNA) – Trade between Vietnam and Myanmarreached 860 million USD in 2018, making Vietnam the 9th largesttrade partner of Myanmar, it was reported at a meeting between Deputy PrimeMinister Vuong Dinh Hue and Myanmar Minister of Planning and Finance Soe Win onJune 18.
At the meeting, held during Deputy PM Hue’s working visit toMyanmar, the two sides praised recent growth of economy-trade-investment andfinance-banking cooperation between Vietnam and Myanmar.
They were pleased to note that Vietnam has also become the 7th largest foreign investor in Myanmar with 18 big projects worth nearly 2.2billion USD.
They said the two economies share similarities but couldsupplement each other if their strengths and potential are capitalised on.
Hue thanked the Myanmar Government for creating favourableconditions for Vietnamese enterprises to invest in the country. He asked MinisterSoe Win to further support the investors, particularly by simplifyingadministrative procedures, reducing customs clearance time, and facilitatingforeign investors to register for ownership of their investment asset in thecountry.
The Deputy PM lauded the Central Bank of Myanmar’s recentpolicies that facilitate the operation of foreign credit institutions,including those from Vietnam.
He asked the Myanmar side to continue enabling Vietnamesecredit institutions to establish and expand their presence in the nation. Atpresent, four financial organisations of Vietnam have opened representativeoffices or branch offices in Myanmar.
For his part, Soe Win stated the Myanmar Government ismaking efforts to simplify administrative procedures to create an open businessclimate for foreign investors, including those from Vietnam. He added that theefforts take time and asked Vietnamese investors to be patient and cooperate withthe local authorities.
On the occasion, he also discussed measures to clearfinancial obstacles for a number of Vietnamese firms in Myanmar like the HoangAnh Gia Lai Group (HAGL) and Bank for Investment and Development of Vietnam(BIDV).
The same day, Deputy PM Hue visited the Vietnamese Embassyand met Vietnamese expatriates in Yangon. He also visited several representativeoffices of Vietnamese companies, including the BIDV, HAGL, Viettel MilitaryIndustry and Telecoms Group, and Vietnam Airlines.
He also had a meeting with the 30-member Vietnameseenterprises’ club in Myanmar, which was freshly established on May 28.-VNA
Deputy Prime Minister Vuong Dinh Hue has affirmed that Vietnam supports Myanmar in its national reconciliation and development with increasingly improving stature in the region and the world.
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Reality is the ultimate benchmark for success, he said, urging drafting agencies to work out policies that foster development, reduce bureaucratic hurdles, and respect practical conditions.
Under the official dispatch signed on June 20, ministers, heads of ministerial-level agencies, and chairpersons of provincial and municipal People’s Committees are requested to concentrate efforts on implementing core measures to ensure the smooth operations of the new administrative framework.
The Party chief underscored the need for the press to innovate relentlessly, evolve to keep pace with the country's development, transform into a truly professional, humanistic, and modern sector that serves the cause of the Party, the State, and the people on the path to national construction and development.
The UN Secretary-General praised Vietnam’s remarkable achievements in socio-economic development and international integration in recent years, noting that the country has emerged as a model in implementing the Sustainable Development Goals (SDGs), promoting international peace and security, and engaging in key UN processes.
Nghia affirmed that this is a milestone of special significance, affirming and honouring the the Vietnamese revolutionary press’s glorious tradition of 100 years of serving the revolutionary cause of the Party, serving the Fatherland, and serving the people.
The Party and State of Vietnam always attach great importance to and give top priority to the development of Vietnam–China relations. Vietnam is ready to work with the Chinese Party and State to further deepen the Comprehensive Strategic Cooperative Partnership and promote the building of the Vietnam-China community with a shared future that carries strategic significance.
Under the leadership of President Ho Chi Minh and the CPV, President Cuong said, the press has been a steadfast force on the ideological and cultural front, rallying the masses to pursue national aspirations.
NA Chairman Tran Thanh Man stressed the need to accelerate the application of artificial intelligence and smart teaching equipment, innovate teaching and assessment methods, and further improve the quality of formal education.
He also pledged that the NA will promote its ongoing supervision, making sure that every promise must lead to results, and every commitment must bring about real changes.
Minister of Industry and Trade Nguyen Hong Dien welcomed the proposals put forward by the US side and reiterated Vietnam’s request for consideration of key areas of interest, including reciprocal tariff policies and access for Vietnamese key export products to the US market.
Deputy PM Le Thanh Long proposed countries promote shared values, including building trust, sincerity, and solidarity among nations and peoples; fostering cooperation spirit and responsible behaviour as well as upholding international law and the UN Charter; and placing people at the centre and as the goal, the key player, and the driving force of all policies.
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The Vietnamese Embassy in Israel is closely coordinating with relevant local agencies to stay informed and provide the utmost support possible for Vietnamese nationals.
The launch of Thanh Nien (Young People) newspaper in 1925, even before the founding of the Communist Party of Vietnam, is considered a testament to President Ho Chi Minh’s strategic foresight and strong belief in the guiding power of the revolutionary media.
Deputy Prime Minister Vuong Dinh Hue (R) and Myanmar Minister of Planning and Finance Soe Win (Photo: baochinhphu.vn) 
