Chuhang Technology showcases industry-leading radar innovations at IAA 2023

MUNICH, GERMANY, Sept. 04, 2023 (GLOBE NEWSWIRE) — Chuhang Technology (“Chuhang,”), a pioneer in millimeter-wave sensing radars, will exhibit a full range of new technology at the IAA Mobility trade show held between Sept. 4 to Sept. 8 in Munich, Germany. The highlight of these radar innovations is a new cabin sensing suite based on its 60 GHz vital sensor developed in partnership with emotion3D.

“We are thrilled to present the distillation of our hard work in the international spotlight,” said Chu Yongyan, Chief Executive Officer of Chuhang Technology. “IAA is one of the most prestigious gatherings of the transportation industry, and our presence here represents our dedication to enhancing the capabilities of next-generation radar.

Chuhang’s attendance at IAA 2023 is the first time it has exhibited outside of China, notching a milestone in its international expansion. Founded in 2017, Chuhang has reached rapid success across its business verticals. It’s now poised to execute the next phase of its expansion strategy.

Chuhang specializes in the R&D, production and manufacturing of advanced sensing solutions, having developed a suite of active radar systems that offer superior reliability, compliance, cost-effectiveness, and ease of integration. It became China’s first millimeter-wave radar technology company to receive investment from FORVIA, the merger between HELLA and Faurecia, and has successfully graduated from accelerator programs by Tencent and Nvidia.

Reliability, safety and integration underscore Chuhang’s commitment to proactively adhere to international standards. Its core products, the 60GHz vital sign radar, 77 GHz forward radar, and the 77 GHz corner radar, have all passed EU’s CE certification, ready to meet the demands of next-generation vehicles. The Company’s millimeter-wave radar chip, digital signal processing chipset, integrated antenna array, microcontroller unit and Autosar-based software architecture have all passed the ISO 26262 ASIL-B compliance. Led by Wogong Zhang, Chief Technology Officer and Co-Founder of Chunhang, the company has made significant contributions to the development of the ISO/PWI 13389 “Road vehicles — Test Method for Detection Performance of Millimeter-wave Radar,” aiming to set an international standard for the testing millimeter-wave radar systems.

Chuhang has also made major investments across all organizational functions, especially its research and production capabilities, to increase its supply chain resilience and technological leadership. It has established research facilities in Stuttgart, Shanghai, and Anqing.

These effective strategic investments have enabled Chunhang to further accelerate its growth. The company completed its MMIC, PCB and path projection research and development in two years, and SOP ramp production in just one. And with a new IATF16949-certified production facility in Anqing capable of producing 1.8 million radar products annually, the company is poised to meet the scalability, reliability and stability volume requirements of any customer with its world-class manufacturing.

Chuhang has garnered the trust of major vehicle industry members, including Ninebot, Navinfo, APOLLO and many others. Having already supplied its products to more than 50 vehicle designs, Chuhang expects to ship nearly five million units to commercial and personal vehicles. Recently, Chuhang has jointly developed a multi-sensing solution for in-vehicle drowsiness detection, combining Chuhang’s radar solution with eMotion 3D’s CABIN EYE software.

Chuhang is also constantly expanding its vibrant partners network. It’s currently negotiating to be a supplier for a major German vehicle manufacturer, with products expected to be delivered in 2026. As it penetrates global markets, Chuang is committed to developing localized and targeted solutions to meet the specific needs of its international customers.

Finally, Chuhang is a champion of employee wellness and social responsibilities, having pooled extensive resources for employee growth and development. In addition to offering clear growth paths and comprehensive benefits, Chuhang has vast resources for talent development for employees of all levels.

About Chuhang Technology

Chuhang Technology is a startup established by a team previously based in Germany. The Company is dedicated to the development and production of 77 GHz to 79 GHz millimeter-wave (MMW) radar sensors for the Advanced Driving Assistance Systems (ADAS) and Automated Driving (AD) applications. Its products have been deployed in passenger and commercial vehicles to helps to enhance ADAS functions such as Blind Spot Detection System (BSD), Forward Collision Warning (FCW), Adaptive Cruise Control (ACC), and Automatic Emergency Braking (AEB), supporting the development of the worldwide AD system and Cooperative Vehicle Infrastructure System (CVIS) of Intelligent Connected Vehicles (ICVs). Chuhang has established headquarters in Jiangbei New Area, Nanjing, Jiangsu, PR. China, R&D centers in Stuttgart, Germany, and Shanghai, Hefei, Anhui, PR. Recently, it finished the SOP ramp-up phase at its new ATF16949-certified manufacturing facility with annual production capacity of 1,800,000 radars in Anqing, Anhui, China.

Learn more at en.Chuhang.tech.

Press contact:

Mobile Phone: Wang Bo +49 15152192552

E-mail: bo.wang@chuhang.tech

Attachment

Wang Bo
Chuhang Technology
+49 15152192552
bo.wang@chuhang.tech

GlobeNewswire Distribution ID 8915923

Energy, Edison study: for young people and businesses transition is a priority

CEO Nicola Monti: “We are facing a technological and energy revolution”

CEO Nicola Monti: “We are facing a technological and energy revolution”

Energy, Edison study: for young people and businesses transition is a priority

MILAN, Italy, Sept. 04, 2023 (GLOBE NEWSWIRE) — The ecological transition is a priority shared by young people and Italian companies: 8 out of 10 young people and 6 out of 10 companies consider it to be the decisive factor for the transition to the society of the future. Young people also associate the priority for sustainability with an evolution of values that focuses on inclusiveness, a sense of community and the promotion of the common good. Furthermore, the priority assigned to the ecological transition by young people and businesses is linked to the fact that, for more than two-thirds of the country’s businesses, the current economic model has not contributed to sustainable development, with 6 out of 10 businesses considering the attention paid to inclusiveness, economic growth, environmental protection and the resilience of production systems insufficient. Consistently 7 out of 10 young Italians think of the future with uncertainty.

“We are facing a technological and energy revolution. We have decided to make significant investments. We will have to spend more over the next two decades. Europe is at the centre of the decarbonisation policy. We need to create the investment and technology platforms to be world leaders like the USA and China.” These were the words of Nicola Monti, CEO of Edison, commenting on the study presented at the Cernobbio Forum with The European House – Ambrosetti, aimed at promoting strategic reflection on the evolutions that will shape the Society of the Future.

The study identified 3 megatrends that will impact the development of society until 2050: global geopolitical and economic dynamics, demography and technological evolution.

The most evident trend linked to the current geopolitical context concerns the new bipolarisation taking place in the international system between the Western bloc and the Sino-Russian bloc, plus a heterogeneous group of countries that prefer ‘variable geometry’ and multidimensional partnerships depending on the strategic interests at stake from time to time. This evolution of the international system also entails a reorganisation of global value chains, starting with the industrial sectors deemed strategic and technology-intensive. The current trend, therefore, appears to be the redefinition of international trade within a fragmented globalisation divided between geographical areas of competence.

At the same time, the demographic context is witnessing a combination of two different trends. On the one hand, a strong change in the demographic weights of the different regions of the world is becoming apparent; in particular, Europe’s weight on the global population is expected to reach 7% by 2050, down 13 percentage points compared to 1960 and 2 percentage points compared to 2022. On the other hand, in mature economies, the demographic scenario also hints at an ageing population: in Italy the over-65 population is now 23.5% of the total and could rise to 34.9% of the total by 2050.

The third megatrend identified in the study concerns technological acceleration linked, first and foremost, to the increasingly pervasive process of digitalisation. In the most recent period, technological acceleration was associated with the development of generative Artificial Intelligence: ChatGPT was the fastest app to reach 100 million monthly users, taking only two months. The development of Artificial Intelligence has thus become a central issue in the international competitive scenario with all major countries striving to gain a competitive advantage from its application.

A further central issue that emerges from the study concerns the need to accelerate the pace of transition by maintaining a strong focus on the community, the territory and the public system. The urgency to act to reduce the distance between the desired future and the future realistically envisaged translates, among young people, into commitment and a sense of responsibility towards the community and the territory: 3 out of 4 young people see in the role of the public system (schools and institutions) a pillar of reference for the years to come. At the same time, companies are also facing change: almost 1 out of 2 companies is already carrying out plans to implement the ecological transition, yet a greater political commitment and institutional support for the transition is requested by 4 out of 10 Italian companies. Technology obviously plays a key role in this process of change: for more than 7 out of 10 young people, the digital world is an integral part of everyday life and a powerful tool for social interaction. However, in order to lead the change towards the ‘5.0 Society’ – which places human wellbeing at the centre through technological convergence – a strengthening of the educational system is needed (for almost 2 out of 3 young people), with a greater focus on ethics, technology and sustainability issues as well as on technical skills (mentioned by almost 1 out of 2 companies), which are necessary to fully grasp the opportunities of the technological transition.

“The need to pursue sustainability and inclusiveness objectives makes energy a key factor in achieving an equitable and environmentally friendly future: suffice it to say that among the Sustainable Development Goals set out by the United Nations, 6 out of 17 (and 28 targets) are directly impacted by energy,” stressed Nicola Monti. “This crucial role”, he added, “will only intensify thanks to the frontiers opened up by research, innovation and investment: in fact, energy is already the leading economic sector at European and Italian level in terms of investment intensity (39% of the sector’s added value in both cases, for a total value of €90 billion in the European Union)”.

For more information:
Press Office LaPresse ufficio.stampa@lapresse.it

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b06f6eff-2aaf-422d-b089-13dd9981ac00

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

GlobeNewswire Distribution ID 8915741

Arbor Metals Resumes Exploration Activities Following Wildfire Closure in Quebec

Map of Arbor Metal Corp.’s Jarnet Lithium Claims

Arbor’s Jarnet Lithium Mine is located in the James Bay region of Quebec and is comprised of 47 map-designated claims that cover an approximate area of 3,759 hectares.

VANCOUVER, British Columbia, Sept. 04, 2023 (GLOBE NEWSWIRE) — Arbor Metals Corp. (“Arbor” or the “Company”) (TSXV: ABR, FWB: 432) announces the resumption of exploration activities at its Jarnet Lithium project in Quebec, following the lifting of closures imposed due to wildfires in the region. The company’s exploration team is preparing to return to the field in the coming days and is assembling the necessary equipment to commence the upcoming work program.

Despite the challenges posed by the wildfire closures, Arbor remains committed to advancing its 2023 exploration program. The company’s dedicated team has developed a revised plan that ensures the successful execution of the program while accommodating the delays caused by the wildfires. The strategic adjustments underscore the company’s determination to meet its exploration objectives.

Mark Ferguson, President and CEO of Arbor expressed his gratitude to the exploration team for their dedication and resilience in devising a comprehensive plan that overcomes the setbacks caused by the wildfire closures. He also extended his heartfelt appreciation to the fire and safety crews who worked tirelessly on the front lines to contain the wildfires and protect communities.

“We are immensely thankful to our exploration team for their unwavering commitment and creative problem-solving,” said Ferguson. “Their dedication has enabled us to adapt and ensure the successful completion of our 2023 exploration program. We also extend our gratitude to the courageous fire and safety crews who have been working tirelessly to safeguard the region.”

Arbor is excited to resume exploration activities and further advance its Jarnet Lithium project. The company’s exploration efforts will be focused on studying high-value targets within the project area, building on the momentum generated by the recently announced CV5 lithium pegmatite resource.

“We are eager to get back to work and continue advancing our Jarnet Lithium project,” added Ferguson. “Our team’s resilience and determination, coupled with the support of the fire and safety crews, have positioned us to achieve our exploration goals for 2023.”

Arbor remains committed to providing regular progress updates as the exploration program unfolds.

About Arbor Metals Corp.

Arbor Metals Corp. is a mining exploration company focused on developing high-value, geographically significant mineral projects worldwide. Arbor is paving the way for advanced mineral exploration as it oversees world-class mining projects. The Company is confident that combining quality projects with proven strategies and a dedicated team will yield exceptional outcomes.

The Jarnet lithium project, located in the James Bay region of Quebec, comprises 47 map-designated claims, covering an area of approximately 3,759 hectares. The Jarnet project is contiguous to the Corvette-FCI property, where diamond drilling has confirmed significant lithium mineralization representing one of the highest-profile lithium exploration projects in the sector.

Map of Arbor Metal Corp.'s Jarnet Lithium Claims

For further information, contact Mark Ferguson, Chief Executive Officer, at info@arbormetals.com, or 403.852.4869, or visit the Company’s website at www.arbormetalscorp.com.

On behalf of the Board,

Arbor Metals Corp.

Mark Ferguson, Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the development of the Jarnet Lithium Project, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

MRKT360 INC
https://mrkt360.com
Alex Zertuche
alexz@mrkt360.com
For E.S.T Office Hours, Call 1 416-477-0587

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1ac9c34f-6084-4782-a8ec-1c2f30b35a1a

GlobeNewswire Distribution ID 8914694

Dialogue, consultation and international laws crucial in international relations: Official

Vietnamese Deputy Minister of Foreign Affairs Do Hung Viet on September 4 attended the ASEAN Foreign Ministers’ Meeting in Jakarta, Indonesia, emphasising the bloc’s role as the epicentre of peace, security, cooperation and prosperity in the region.

The deputy minister also attended the ASEAN Political-Security Community Council (APSC)’s Meeting and the ASEAN Coordinating Council (ACC)’s Meeting.

Speaking at the meetings, Viet expressed support for Indonesia’s practical initiatives as the current ASEAN Chair, which contributed to the bloc’s long-term vision.

Economic priorities have also contributed to growth in trade, investment, financial stability and economic recovery in the region, he said.

The Vietnamese official also showed appreciation for ASEAN’s efforts in climate change response and sustainable development, including the establishment of the ASEAN Centre for Climate Change and the ASEAN Coordinating Centre for Transboundary Haze Pollution Control.

He said that Vietnam is ready to work with other countries in effectively promoting economic growth through marine economy, digital and green transformation for the interests of people and businesses.

The deputy minister stressed that it is necessary to promote dialogue and consultation, as well as uphold international laws in addressing differences and disputes in international relations.

The roles of ASEAN agencies also need to be strengthened for better response to challenges in marine security, cyber security, artificial intelligence, transnational crimes, sea pollution and water security, he added.

Viet also reaffirmed ASEAN’s stance and principles on the East Sea, and countries’ responsibilities in building the East Sea into a sea of peace, safety and stability.

ASEAN also needs to closely follow its principle of non-interference and assist Myanmar to seek comprehensive and feasible solutions to the current situation, while also encouraging dialogues, building trust and reducing differences, he said.

Source: Vietnam News Agency

ASEAN Coordinating Council discuss ways to speed up decision-making process

Indonesian Foreign Minister Retno Marsudi has said that ASEAN member countries are all aware of many difficult circumstances in the region. But they cannot allow the difficulties to affect their hard work in the 43rd ASEAN Summit and Related Meetings that take place in Jakarta from September 4-7.

Speaking at the ASEAN Coordinating Council (ACC)’s 34th Meeting held in Jakarta on September 4 ahead of the summit, Retno said the challenges ASEAN are facing right now are already big enough to keep them struggling at times, but the challenges they are facing in the upcoming years would be even greater.

Whether ASEAN can move forward or not entirely depends of themselves, she said.

According to Retno, at the 43rd ASEAN Summit, ASEAN will adopt many important decisions that would chart the future of ASEAN as a community and an institution.

This includes measures to expedite the ASEAN decision-making process in crises and emergency situations and measures to strengthen ASEAN capacity to respond to emerging challenges in the region.

It is very important that the ACC can recommend the best course of action for ASEAN leaders to decide as well as to maintain that ASEAN matters to people and the world, she said.

Source: Vietnam News Agency

PM delivers speech at ASEAN Business and Investment Summit

The Association of Southeast Asian Nations (ASEAN) is fully capable of affirming its position as a polar in a multipolar world as well as its centrality in the regional cooperation and architecture, Vietnamese Prime Minister Pham Minh Chinh said at the ASEAN Business and Investment Summit in Jakarta, Indonesia, on September 4.

Addressing the forum, themed “ASEAN Centrality: Innovating Towards Greater Inclusivity,” the Vietnamese leader said the bloc boasts an open and extensive economic landscape with a network of eight Free Trade Agreements (FTAs), including the ASEAN Free Trade Area (AFTA) and seven others with key partners.

Notably, the Regional Comprehensive Economic Partnership (RCEP) Agreement establishes a free trade region encompassing 30% of the world’s population (with over 688 million people) and 32% of global GDP (amounting to over 3.6 trillion USD in 2022).

In addition, numerous new initiatives have been launched to enable ASEAN to otimise opportunities arising from emerging development trends such as the establishment of the ASEAN Digital Economy Framework Agreement, the Framework for a Circular Economy, the Blue Economy Framework, and the ASEAN Strategy for Carbon Neutrality, along with negotiations to upgrade the ASEAN Trade in Goods Agreement and its FTAs with China, the Republic of Korea (RoK), Japan and India, among others.

ASEAN has stayed independent and self-resilient, and remained a bright spot in economic growth that reached 5.6% last year, and is expected to stay at 4.5% this year, the PM continued.

The intra-bloc trade was valued at over 856 billion USD, accounting for about 22% of ASEAN’s total trade revenue, he said, adding that the group has effectively coped with challenges in energy security and food security, and combated the COVID-19 pandemic.

ASEAN has served as a pivotal link in regional cooperation mechanisms through its relations and collaboration with external partners, according to the Vietnamese leader.

Through mechanisms such as ASEAN 1, ASEAN 3 and the East Asia Summit (EAS), ASEAN countries have established and maintained balanced and flexible relations with partners outside the bloc.

Foreign countries have supported ASEAN’s centrality and accepted its common principles and standards, PM Chinh said, noting that 43 countries have joined the Treaty of Amity and Cooperation in Southeast Asia (TAC).

To help ASEAN carry forward its role and position, and utilise opportunities, PM Chinh suggested the bloc strengthen its intra-bloc solidarity, and maintain its principles, and common stances and views, as well as strategic balances in relations with partners.

ASEAN also needs to maintain long-term commitments to market opening and trade and investment promotion, he said, proposing the bloc promote FTAs, and regional and global economic connectivity; and step up regional integration to better harness each other’s strengths in seizing opportunities in the new global economy, especially emerging growth drivers such as digital transformation, green transition, circular economy, and sharing economy.

Social equality and progress and environmental protection should not be traded for economic growth, he said, stressing that people should be the centre, actor, target and momentum of development.

To further uphold the role of businesses in spurring growth and creating new breakthroughs for ASEAN, PM Chinh held that governments and enterprises need to cooperate more closely, effectively and practically.

In this regard, countries should work together to perfect institutions by standardising and harmonising investment and business regulations, and simplifying procedures through digital transformation, he suggested.

Governments and businesses need to work together in strategic infrastructure development, and high-quality personnel development, considering this the key to raising regional productivity and competitiveness.

As a reliable partner and an active, responsible member, Vietnam will continue to closely coordinate with Indonesia and other ASEAN countries in an effort to build a united, self-resilient, and developed ASEAN, helping to maintain an environment of peace, stability, cooperation and development in the region and the world, the PM pledged.

He used this occasion to call on investors to come to Vietnam with the motto of “harmonising interests and sharing risks.”

PM Chinh noted his belief that ASEAN in general and the business community in particular will keep pace with new trends, effectively address challenges, and ensure a balance between short-term recovery and growth, and long-term sustainable development.

Source: Vietnam News Agency

Vietnam, Indonesia eye comprehensive strategic partnership

Vietnamese Prime Minister Pham Minh Chinh met with Indonesian President Joko Widodo in Jakarta on September 4 on the sidelines of the 43rd ASEAN Summit and Related Meetings.

Both leaders spoke highly of the positive development in the strategic partnership between Vietnam and Indonesian since their meeting in Labuan Bajo in May.

They affirmed that the two countries will step up all-level delegation exchanges in the time ahead, setting milestones for the 10th anniversary of the strategic partnership in 2023 and looking towards the 70th founding anniversary of the bilateral diplomatic relations and the 80th anniversary of Vietnam’s National Day and Indonesia’s Independence Day in 2025.

The two sides agreed to effectively optimise bilateral cooperation mechanisms and coordinate to well implement signed agreements, including bringing the signed document on maritime cooperation into effect soon, creating momentum to elevate the strategic partnership to a new height, towards a comprehensive strategic partnership in the near future.

PM Chinh suggested the two countries maintain their trade ties in a more balanced way, striving to raise the bilateral trade revenue to 15 billion USD by 2028, and suggested the two governments encourage businesses of the two countries to increase investment, especially in such new areas as digital economy, green economy, energy transition and e-vehicle ecosystem development.

He also called on Indonesia ease the application of trade remedy measures against Vietnamese goods, thus facilitating the access of farm produce and Halal products originating from Vietnam to the Indonesian market.

The two countries should cooperate in new, strategic supply chains and enhance cooperation in the areas in which both sides are interested, he said.

The PM suggested Indonesia recognise Vietnam’s efforts in monitoring the operations of fishing boats, and minimising illegal, unreported, and unregulated (IUU) fishing activities.

President Widodo welcomed PM Chinh to Indonesia to attend the 43rd ASEAN Summit and related meetings.

He thanked and highly appreciated Vietnam’s support for and active assistance to Indonesia’s ASEAN Chairmanship in 2023.

President Widodo welcomed Vietnamese businesses, including VinFast, to invest in Indonesia and promote cooperation in the development of renewable energy and electric vehicle ecosystem.

The President suggested the two countries strengthen marine cooperation, and sustainable fishery cooperation and soon sign a Memorandum of Understanding on fishery cooperation.

Talking about regional and international issues, PM Chinh affirmed that Vietnam supports and works closely with Indonesia to ensure the success of the 43rd ASEAN Summit and the ASEAN Chairmanship Year 2023, contributing to strengthening solidarity, unity, and centrality of ASEAN and maintaining peace, stability, cooperation, and common development in the region.

Regarding the East Sea issue, the two leaders reaffirmed their support for maintaining ASEAN’s solidarity and agreed principles in the East Sea issue, especially the early finalisation of an effective Code of Conduct in the East Sea (COC) between ASEAN and China in line with international law and the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

PM Chinh conveyed the invitations of Party General Secretary Nguyen Phu Trong and President Vo Van Thuong to President Widodo to visit Vietnam soon. President Widodo accepted the invitations with pleasure.

Source: Vietnam News Agency

PM meets with IMF Managing Director in Indonesia

Prime Minister Pham Minh Chinh met with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva on the sidelines of the 43rd ASEAN Summit and Related Meetings in Jakarta, Indonesia, on September 4.

Georgieva highlighted the Association of Southeast Asian Nations (ASEAN)’s and Vietnam’s positive economic growth, which, she said, has significantly contributed to spurring the sustainable growth of the global economy.

For his part, Chinh thanked the IMF and the Managing Director for their support to Vietnam in consultancy and policy making, helping the country stabilise the macro-economy and finance-monetary sector, and recover the national economy.

Lauding the fund’s role in promoting economic recovery after the COVID-19 pandemic and setting forth major orientations to remove difficulties and challenges, the PM said Vietnam stays ready to work together with the IMF to implement the agenda, focusing on the three pillars of stabilising the macro economy, supporting vulnerable countries and spurring growth.

Regarding the global economic situation, Georgieva pointed to a range of difficulties and challenges, which have also affected Vietnam.

Chinh also noted that the world economy is being impacted by many factors, including the lingering effects of the COVID-19 pandemic, the conflict in Ukraine, monetary tightening by many economies, supply – demand decline, and production and business stagnation.

To overcome the current difficulties and challenges, the PM and IMF Managing Director agreed on the need for comprehensive solutions to ensure peace and stability.

They emphasised the importance of strengthening international solidarity, promoting multilateralism and continuing to boost international integration.

They shared the view that countries need to join hands to find new drivers for growth including green growth, circular economy, and sharing economy as well as the need to mobilse resources to expand production and business, create more jobs, promote innovation and start-ups, and not to politicise economic and scientific and technological issues.

The two sides agreed to strengthen the signing and negotiation of free trade agreements, remove trade barriers to facilitate the global circulation of goods; handle issues peacefully and cooperatively; promote the mobilisation of resources for development through public-private partnership.

The PM emphasised that in the context of complex global economic developments and potential risks, Vietnam will continue to implement the above mentioned groups of solutions to maintain macroeconomic stability, control inflation, maintain growth momentum, ensure major balances of the economy, and control public debt.

Vietnam will continue to implement flexible and effective monetary policy and fiscal policy with key focuses, promote both domestic and foreign investment, especially investment from the state sector. Vietnam will also coordinate and call on major economic hubs including ASEAN, to join hands in implementing the solutions.

The IMF Managing Director said that in the coming time, the IMF will continue to have solutions to help member economies increase their resilience against future shocks.

In the current trend of fragmentation in the world economy, the IMF hope that ASEAN in general and Vietnam in particular, on the basis of economic growth achievements, will promote its role in connecting economies and have a stronger voice in promoting global cooperation.

Chinh affirmed that Vietnam is ready to join hands with the IMF to implement measures to promote economic recovery.

Vietnam hopes that the IMF will continue to support Vietnam in policy consulting and making, technical support so that Vietnam can achieve its set development goals.

On this occasion, Chinh invited Georgieva to visit Vietnam soon and the latter happily accepted the invitation.

Source: Vietnam News Agency