Vietnam seeks to set up cooperation with Brazilian locality

In his meeting with Governor of Brazil's Espirito Santo Renato Casagrande, Ambassador to Argentina Bui Van Nghi Bui Van Nghi valued the potential for cooperation between the two sides, particularly in priority areas such as tourism, information technology, hi-tech agriculture, and seaport.

Vietnamese Ambassador to Argentina Bui Van Nghi (th fourth from the fright) in the meeting with Governor of Brazil's Espirito Santo state Renato Casagrande. (Photo: VNA)
Vietnamese Ambassador to Argentina Bui Van Nghi (th fourth from the fright) in the meeting with Governor of Brazil's Espirito Santo state Renato Casagrande. (Photo: VNA)

Buenos Aires (VNA) – Vietnamese Ambassador to Argentina Bui Van Nghi made a working visit to Espirito Santo state of Brazil from January 19 to 22 to explore opportunities for economic, trade, investment, and educational cooperation between Vietnam and this locality.

In his meeting with Governor of Brazil's Espirito Santo state Renato Casagrande, the Vietnamese diplomat valued the potential for cooperation between the two sides, particularly in priority areas such as tourism, information technology, hi-tech agriculture, and seaport.

Nghi emphasised the importance of strengthening mutual understanding through sharing information, organising trade fairs, conferences, specialised workshops, trade promotion programmes, and official visits, and establishing trade representative offices. He noted that the bilateral relationship has been elevated to a strategic partnership, but the trade turnover has not yet matched the potential and expectations.

For his part, Casagrande expressed his impression of the development achievements made by Vietnam in recent years.

The two sides agreed on an initiative to open a space for displaying goods, creating opportunities to promote the image and products of Vietnam and Espírito Santo, thus enhancing mutual understanding and intensifying economic and trade cooperation.

Working with representatives from Vitoria, Vila Velha and Aracruz cities in Espirito Santo state, Nghi showed his impression of theỉr areas' outstanding potential, including their modern seaport system, as well as strengths in natural resources extraction, agriculture, and tourism. He pledged to serve as a bridge connecting suitable localities with similar natural and economic conditions to foster twin-relations between the two countries.

The diplomat’s trip opened up new opportunities for economic, trade, and investment cooperation between Vietnam and Brazil. Efforts to promote trade relations, set up partnerships with the Southern Common Market (Mercosur - comprising Brazil, Argentina, Uruguay, and Paraguay), and the initiative to establish twin-relations between the port cities of both countries lay a solid foundation for sustainable and expansive development in the bilateral relations.

Last year, the trade value between Vietnam and Brazil hit 7.9 billion USD, a significant increase from 7.1 billion USD in 2023./.

VNA

See more

The entrance gate to Hanoi’s Ciputra Urban Area, where banks are selling apartments and villas. (Photo: cafef.vn)

Banks selling mortgaged assets to recover bad debts

The Viet Dragon Securities Company (VDSC) said that bad debts might continue to increase slightly this year, after a circular allowing banks to reschedule debt repayment periods and maintain the debt group for certain sectors expired at the end of 2024.

Remittances to Vietnam in 2024 are estimated at about 16 billion USD, maintaining the record-high levels seen in 2023. (Photo: VNA)

Remittances surge as Tet approaches

According to the State Bank of Vietnam’s Ho Chi Minh City branch, 9.6 billion USD, or 60% of the total remittances, flew through financial institutions, representing a 140 million USD increase from the previous year.

Bank lending in HCM City achieves high growth last year. (Photo courtesy of ABBANK)

Banks' credit up 11.3% in HCM City in 2024

Total outstanding loans of credit institutions in Ho Chi Minh City as of the end of last year were worth over 3.9 quadrillion VND (153.3 billion USD), a 11.3% increase for the year, according to the central bank.

Ho Chi Minh City received nearly 493 million USD in remittances in the first 20 days of this year. (Photo: https://doanhnhansaigon.vn)

Remittances to HCM City surge ahead of Tet

Ho Chi Minh City received nearly 493 million USD in remittances in the first 20 days of this year, according to Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam's HCM City branch.

Illustrative photo (Photo: VNA)

Retail petrol prices down in latest adjustment

The price of E5RON92 bio-fuel was priced at 20,592 VND (0.82 USD) per litre, representing a 158 VND decrease from the previous baseline, while RON95-III decreased to 21,142 VND per litre, down 78 VND.

Inside the ABB factory in Vietnam (Photo: baodautu.vn)

European investment flows gain momentum in Vietnam

European investments are expected to pick up in Vietnam following Prime Minister Pham Minh Chinh’s engagement with Czech and Polish enterprises as part of his trip to Europe to attend the 55th Annual Meeting of the World Economic Forum.