Germany’s Hessen state ready to support Vietnam in developing int’l financial centers
The German state of Hessen stands ready to support and cooperate with Vietnam in developing international financial centers, particularly in training, consulting, and investment promotion, its Minister of Science and Research, Arts and Culture Timon Gremmels said on October 21.
During a meeting with Permanent Deputy Prime Minister Nguyen Hoa Binh in Hanoi, Gremmels said many German businesses and investors view Vietnam as an attractive destination with vast opportunities and potential for cooperation.
He expressed his hope that the Vietnamese Government will continue to create favourable conditions for German investors to establish long-term and effective partnerships, serving the mutual interests and development of both sides.
For his part, Deputy PM Binh affirmed that Vietnam always treasures and wishes to further deepen its strategic partnership with Germany, including Hessen. He noted the Vietnam – Germany strategic partnership has expanded across multiple fields such as politics, economy, education, science, and technology, according to VNA.
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| Permanent Deputy Prime Minister Nguyen Hoa Binh (right) and Timon Gremmels, Minister of Science and Research, Arts and Culture of Hessen, at their meeting in Hanoi on October 21 (Photo: VNA) |
The host also shared about his working visit to Hessen in March to study the state’s experience in developing international financial centers, and his attendance at the World Alliance of International Financial Centers (WAIFC) annual meeting in Frankfurt in October.
Vietnam, he said, looks forward to stronger cooperation with Hessen in developing an international financial center, as well as in labor and employment, given Germany’s growing demand for healthcare and technical workers and Vietnam’s capacity to meet it.
The Deputy PM also thanked the Hessen State Symphony Orchestra for its recent successful performances in Hanoi and Ho Chi Minh City to mark the 50th anniversary of Vietnam – Germany diplomatic ties.
Both sides expressed satisfaction with the strong and fruitful partnership between the two countries, highlighting the Vietnamese-German University (VGU) as a flagship project in bilateral cooperation.
Given Vietnam’s plan to establish an international financial center, Germany—and particularly Hessen state—has provided valuable support. The VGU has already conducted two courses in international finance and plans to offer more in the future, with students benefiting from high-quality instruction delivered by leading financial experts from Germany, including those from Hessen.
South African President’s visit to Vietnam expected to foster stronger bilateral ties
South African President Cyril Ramaphosa’s upcoming state visit to Vietnam aims to expand bilateral relations across all fields, including trade and critical areas of the economy, like agriculture, defence, technology, Spokesperson to the President Vincent Magwenya told the Vietnam News Agency (VNA)'s resident correspondent in Pretoria ahead of the trip.
He underlined that the relationship between South Africa and Vietnam dates back to the days of struggle for independence of both countries. Both countries have shared deep roots in terms of solidarity and they are focusing on taking the relationship forward and elevating it to a strategic partnership, and stronger trade cooperation.
Magwenya described President Ramaphosa’s visit as strategic and significant in promoting bilateral trade, contributing to fulfilling South Africa’s trade diversification strategy and expanding access into existing markets.
He noted that over the last 30 years, bilateral trade has been steadily increasing, and there is certainly, from President Ramaphosa's perspective, more room to grow the trade, to expand on people-to-people ties and to exchange learnings and perspectives.
Magwenya said that the two sides have shared close bilateral cooperation at multilateral forum like the UN, G20 and other key multilateral platforms, as well as same values and same perspectives in terms of reforms. He said such collaboration is hoped to be strengthened by this visit and the elevation of the relationship to a strategic partnership.
Regarding potential cooperation areas for the two sides, he highlighted trade ties, which have steady increased over the years, reaching about 31 billion ZAR (1.79 billion USD). The two sides have also enjoyed fruitful knowledge exchanges and South Africa find a great deal of inspiration in how Vietnam has reconstructed itself from a country that was mired in conflict. Vietnam’s ambition to become a country with high income by 2045 is also inspiring, accrding to VNA.
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| Spokesperson to the President Vincent Magwenya (Photo: VNA) |
According to the Spokesperson, during the upcoming visit, President Ramaphosa is scheduled to attend the signing ceremony of the United Nations Convention against Cybercrime (Hanoi Convention), which he described as a joint effort to deal with challenges from cybercrime at a multilateral level.
Magwenya stressed that technology is evolving quite fast and quite rapidly, requiring all countries, policy makers, as decision makers, to also sharpen their responses. He stated that global wide cooperation is critical in stemming the tide of cybercrimes, ensuring that AI does not become destructive, but it becomes a good force for change and development, particularly in the Global South.
The Spokesperson said that following the state visit to Vietnam, President Ramaphosa will also undertake a state visit to Indonesia and then attend the 47th ASEAN Summit as the Guest of the Chair.
The President believes that this visit will cement all these opportunities that are there between South Africa and the Southeast Asia region, and his attendance of the ASEAN Summit is aimed at bridging the distance physically and geographically. This is an opportune time for South Africa, as well as for Africa to cement closer ties with the ASEAN region for the benefit of their people, said the Spokesperson.
Trade turnover surpasses US$700 billion as of October 15
Vietnam’s total trade turnover reached US$718.85 billion as of October 15, up 17.4% compared to the same period in 2024, according to preliminary data from Vietnam Customs.
In the first half of October (October 1-15), the country’s trade turnover totaled US$38.04 billion, down 12.1% from the second half of September (September 15-30).
Exports during this period reached US$19.34 billion, led by computers, electronic products and components (US$4.39 billion), machinery and equipment (US$2.42 billion), phones and accessories (US$2.4 billion), and garments and textiles (US$1.49 billion).
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| Trade turnover exceeds US$700 billion as of mid-October (Illustrative image) |
Several other product groups, including footwear, transport equipment, wood products, seafood, and fruit and vegetables, recorded hundreds of millions of dollars in turnover.
Imports in the first half of October hit US$18.69 billion, with computers and electronics (US$6.19 billion) and machinery and equipment (US$2.56 billion) among the top groups.
From the start of the year to October 15, exports reached US$368.13 billion, up 16.14%, while imports stood at US$350.72 billion, up 18.7%, leaving a trade surplus of US$17.41 billion, VOV reported.
At a regular third-quarter press briefing of the Ministry of Industry and Trade, Nguyen Anh Son, Director of the Import-Export Department, noted that if no unusual fluctuations occur, total trade turnover for 2025 could approach US$900 billion. He emphasized the need to monitor global market developments closely and to implement policies that diversify markets, boost exports, reduce dependence on FDI, and mobilize all resources for sustainable growth.
Coastal Vietnam on alert as Storm Fengshen nears landfall
Storm No. 12 (Fengshen) is now located approximately 450 kilometers east-northeast of Da Nang and is expected to make landfall between Quang Tri and Da Nang provinces, bringing heavy rains and high winds from October 22 to 27.
According to the National Center for Hydro-Meteorological Forecasting, as of 1:00 p.m. on October 21, the storm's center was positioned over the northern part of the Hoang Sa (Paracel) Islands.
Maximum sustained winds near the eye of the storm are at levels 9-10 (75-102 km/h), with gusts reaching level 12. The storm is moving southwestward at a speed of 10-15 km/h.
Storm track and intensity forecast:
By 1:00 p.m. on October 22, the storm is expected to shift west-southwest at 10-15 km/h, placing its center about 145 kilometers east-northeast of Da Nang. At that point, wind intensity is forecast to decrease to level 8 with gusts up to level 10. Natural disaster risk level: 3 (for the western waters of the northern East Sea, including the Hoang Sa archipelago, and waters from southern Quang Tri to Quang Ngai), reported VNN.
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| Storm No. 12 (Fengshen) is forecast to make landfall between Quang Tri and Da Nang, with heavy rainfall peaking from October 22 to 23. Photo: NCHMF |
By 1:00 p.m. on October 23, the storm will continue moving west-southwest at 10-15 km/h and make landfall between Quang Tri and Da Nang. It is expected to weaken into a tropical depression, then a low-pressure zone over southern Laos. Wind speeds will drop below level 6. Natural disaster risk level remains at 3 (for coastal areas and islands such as Con Co, Cu Lao Cham, and Ly Son, as well as mainland coastal provinces from Quang Tri to Da Nang).
Impacts and warnings:
In the northwest part of the East Sea, including Hoang Sa, wind speeds will reach level 7-8, with gusts at level 9-10 near the storm center. Waves will reach 3-5 meters, up to 7 meters near the center. Sea conditions will be extremely rough.
Coastal waters from Quang Tri to Quang Ngai, including Con Co, Cu Lao Cham, and Ly Son islands, will experience winds at level 6, increasing to level 7 by the morning of October 22. Winds near the storm center could reach level 8, with gusts up to level 10. Waves are forecast at 3-5 meters, with rough seas expected.
Storm surge: Coastal regions from Quang Tri to Da Nang may see storm surges of 0.3 to 0.5 meters.
All vessels operating in the danger zone are at high risk of thunderstorms, waterspouts, strong winds, and high waves. Coastal areas must remain alert for flooding in low-lying zones and potential coastal erosion due to storm surge combined with tidal forces.
On land: From the afternoon of October 22, coastal provinces from Quang Tri to Da Nang will face increasing wind speeds, reaching level 6 and potentially level 7, with gusts up to level 9.
Heavy rainfall expected: Due to the influence of Storm No. 12, combined with cold air and easterly winds, and terrain-induced effects, heavy to torrential rain is forecast from Ha Tinh to Quang Ngai between October 22 and 27, with the heaviest rainfall from the afternoon of October 22 through October 23.
Specific rainfall projections include:
Ha Tinh to northern Quang Tri and Quang Ngai: 200-400 mm, locally over 500 mm
Southern Quang Tri to Da Nang: 500-700 mm, locally over 900 mm
Extreme rain intensities could exceed 200 mm within a 3-hour period. Heavy rains in the central region may persist until the end of October 2025.
There is a very high risk of flash floods, landslides in mountainous areas, and urban and lowland flooding.
The meteorological authority has advised localities to ensure safe operations of hydropower and irrigation reservoirs, and to prepare emergency response plans as river water levels from Quang Tri to Quang Ngai may reach or exceed alert level 3. Flood risk level is rated at 3.
Authorities and residents are urged to stay alert for possible thunderstorms, tornadoes, and strong gusts in storm-affected areas, both before and during the storm's landfall.
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