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| Illustrative photo (Source: VOV) |
Cambodia primarily exported agricultural products such as cashew nuts, and rubber to Vietnam. Vietnam accounts for 13.8% of Cambodia's export market share, while the US makes up for 38.4% of the Southeast Asian nation's market share.
From the first quarter to the third quarter of this year, Cambodia's imports from China accounted for the largest portion, with import turnover reaching US$9.8 billion, equivalent to 46.8% of the import market share.
During the reviewed period, Cambodia run a trade deficit of more than US$8.5 billion with China, while Vietnam ranked second in imports with US$3.1 billion, accounting for 14.6% of the nation’s market share.
Cambodia mainly imported garment and textile products, construction materials, petroleum, plastic products and fertilizers from Vietnam.
Vietnamese women’s futsal team move up in world ranking
The Vietnamese national women's futsal team have been placed No 11 in the world ranking, reported Vietnam News Agency based on FIFA announcement.
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| Vietnam's national women's futsal team jump higher in the world ranking. (Photos of VFF) |
In the world football governing body's latest ranking, Vietnam gained 24.04 points thanks to their recent remarkable results to have 1120.38 points to secure the 11th position, one step higher than the previous ranking.
In the last three months, Vietnam took part in two international friendlies and won one gold and one silver.
The team maintained their position as No 4 in Asia behind No 6 Thailand, No 9 Iran and No 10 Japan.
On the men's side, the national team did not take part in any event for months and failed to earn their slot at the 2024 World Cup. They have no more points but drop one place to No 34 with 1117.02 points.
They are now No 8 in Asia and third in ASEAN.
The team are currently training in HCM City under coach Diego Raul Giustozz to prepare for the ASEAN Futsal Championship 2024.
The squad consists of 20 players, including young talents like Vu Ngoc Anh and Nguyen Da Hai, who recently performed well in the U20 national futsal championship and friendly matches against Russia's U19 team. This move is aimed at building a strong future lineup for the national team.
The team also retains experienced players such as goalkeeper Ho Van Y, Pham Duc Hoa, Chau Doan Phat and Nguyen Thinh Phat.
The players will train until October 25, before heading to Thailand for an intensive training camp. There, they will play two friendly matches, one against Thailand's Hongyen Thakam Club on October 27 and the other against Australia's national team on October 29.
The ASEAN Futsal Championship 2024 will take place in Thailand from November 2-10, featuring nine teams divided into two groups.
Vietnam are in Group A with Thailand, Malaysia, Brunei, and Timor Leste. The two top teams from each group will advance to the semi-finals.
Vietnamese Student Association in Singapore hosts “Intellectual Arena” event
The Vietnamese Student Association in Singapore held its first-ever “V-Challenge 2024: Intellectual Arena” at Curtin University, drawing a large number of Vietnamese students in the country, reported Vietnam News Agency.
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| The Vietnamese Student Association in Singapore hosts “Intellectual Arena” event (Photo: VNA) |
The event provided a valuable platform for the participants to sharpen essential skills for studying and living abroad while improving their knowledge about Vietnam’s culture, history, and geography.
Over 40 Vietnamese students from various educational institutions participated in the competition, which consisted of four rounds with diverse questions.
The students said they found the event both challenging and rewarding, offering an opportunity to connect with their peers and deepen their understanding of the home land.
Alongside the competition, there were entertainment booths, featuring bracelet crafting and knitting, and a lucky draw with prizes from organizers.
Earlier, the association launched a week-long fundraising campaign in support of Typhoon Yagi victims at home.
Vietnamese economy shows swift recovery in post-typhoon period
The Vietnamese economy has rapidly bounced back, despite facing external uncertainties and heavy damage caused by typhoon Yagi which greatly affected all socio-economic activities and people’s lives, reported the Voice of Vietnam.
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| Illustrative photo (Source: VOV) |
The national economy has regained momentum and produced positive results, with bright sports being recorded in industrial production, export, and foreign direct investment (FDI) attraction during the nine-month span.
The country displayed macroeconomic stability; controlled inflation; and ensured major balances while overspending, public debt, Government debt, and foreign debt were within acceptable limits.
According to Nguyen Thi Huong, general director of the General Statistics Office (GSO), the economy grew by 7.4% on-year in Q3, exceeding the target set in the Government's Resolution No.1 (6.7%).
During the reviewed period, it soared by 6.82% compared to the same period from last year, with the agro-forestry-fisheries sector climbing by 3.2%, while industry and construction and service sectors marked respective increases of 8.19% and 6.95%.
As many as 17,700 new firms were registered in September, thereby bringing the total number of new businesses in the reviewed period up to 183,000, higher than the number of companies withdrawing from the market.
Survey conducted by the GSO indicated that 82.6% of manufacturing firms anticipate that conditions will improve or remain stable ahead in the fourth quarter, signaling strong business confidence in the economy's recovery.
Despite the damage caused by typhoon Yagi, international economic organizations still have confidence in the overall resilience of the Vietnamese economy.
“Vietnam’s economy showed robust recovery in the first half of 2024 and continues to maintain momentum despite global uncertainties,” said Shantanu Chakraborty, country director for Vietnam of the Asian Development Bank (ADB), elaborating that the recovery has been driven by improving industrial production and a strong rebound in trade.
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| Illustrative photo (Source: VNA) |
In its latest report, the International Monetary Fund (IMF) decided to raise its forecast for Vietnamese economic growth in 2024 to 6.1%, higher than the "nearly 6%" projection made in June. The ADB projected a positive economic outlook for the country, forecasting its gross domestic product (GDP) growth at 6% in 2024 in its September Asian Development Outlook (ADO).
However, the economy still faces plenty of challenges, especially unpredictable fluctuations, while the momentum in the domestic market has not been effectively maintained.
The Ministry of Planning and Investment (MPI) pointed out that typhoon Yagi has severely affected agricultural production and tourism in the north, meaning that solutions need to be implemented in a timely manner to help enterprises quickly restore production and business activities to limit negative impacts on growth in the fourth quarter and early 2025.
he MPI projected a 7.6% to 8% economic expansion in Q4 following positive results in the previous quarter, thereby helping to achieve and exceed the full year target of 7% growth. The projection was made based on robust growth trends in various economic sectors, with agricultural production maintaining its growth trajectory, meeting demand of domestic consumption and export.
To reach the growth target in the fourth quarter, the Ministry said that resources must be prioritized to fine-tune policies and regulations, thereby helping to shape up a favourable environment as well as attract large-scale and high-tech investment projects, adding that it is a must to foster and renew traditional growth motives in investment, consumption, and export.
The MPI underlined the necessity to augment co-operation and hold economic dialogues with comprehensive strategic partners and strategic partners. The nation also needs to promote the working group mechanism that engages with enterprises and financiers to lure multinational corporations and strategic investors in the areas of chips, semiconductors, and AI.
Simultaneously, it can be viewed as essential to study rational and feasible policy packages to support firms and further propel new growth drivers forward, the Ministry added./.