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Contributions of foreign direct investment cannot be denied, illustration photo In recent years, there has been a viewpoint that foreign direct investment (FDI) is a foreign element rather than an organic part of Vietnam’s economy. It is also sometimes believed that the domestic economy is weak due to the low spillover effects of FDI without a clear recognition of the need to promote the development of the domestic economy. However, if we assume something that did not happen in reality – that Vietnam never did have access to FDI – then we would see a vastly different nation today. The increasing proportion of FDI indicates that the economic growth rate of this area is usually higher than that of the domestic economy. Without, it would take many more years for Vietnam to reach the GDP scale of 2022 with $409 billion and average GDP per capita of $4,110, and with the economic growth rate at over 7 per cent annually, as seen in 1991-1997 and 2002-2007. In 2022, the realised … [Read more...] about Contributions of foreign direct investment cannot be denied

In an interview granted to the Vietnam News Agency (VNA)'s resident correspondents in Sydney ahead of the Prime Minister's trip from June 3-4, Thanh said the visit takes place at a time when the two countries are celebrating the 50th founding anniversary of the bilateral diplomatic ties and the 5th anniversary of the strategic partnership. This is the second official visit to a Southeast Asian nation by Albanese since he took office, and the third to Vietnam by an Australian Prime Minister, the ambassador said, noting that the trip shows Prime Minister Albanese’s administration attaches importance to Vietnam. Thanh also recalled the visit to Vietnam by Australian Governor-General David Hurley in April, which was his only State-level visit to a Southeast Asian nation, and another trip to Vietnam by Minister for Trade and Tourism Don Farrell in the same month. In June 2022, Minister for Foreign Affairs Penny Wong selected Vietnam as the first ASEAN country to pay an official visit. … [Read more...] about Australian Prime Minister’s Vietnam visit to give impulse to bilateral ties: Ambassador

Vietnamese Ambassador to Australia Nguyen Tat Thanh. (Photo: Vietnamese Embassy in Australia) Hanoi (VNA) – The upcoming visit to Vietnam by Australian Prime Minister Anthony Albanese will create momentum for bilateral cooperation in such potential areas as culture, investment, labour and people-to-people exchanges, Vietnamese Ambassador to Australia Nguyen Tat Thanh has said. In an interview granted to the Vietnam News Agency (VNA)'s resident correspondents in Sydney ahead of the PM’s trip from June 3-4, Thanh said the visit takes place at a time when the two countries are celebrating the 50th founding anniversary of the bilateral diplomatic ties and the 5th anniversary of the strategic partnership. This is the second official visit to a Southeast Asian nation by PM Albanese since he took office, and the third to Vietnam by an Australian PM, the ambassador said, noting that the trip shows PM Albanese’s administration attaches importance to Vietnam. Thanh also … [Read more...] about Australian PM’s Vietnam visit to give impulse to bilateral ties: Ambassador

Activities and programs honoring the International Children's Day (June 1) are taking place across Ho Chi Minh City from Thursday through the weekend. Among the activities being held to celebrate the occasion are a book garden program at the zoo, a southern fruit festival at Suoi Tien Theme Park in Thu Duc City, and several theatrical performances. Fees waived for children at Saigon Zoo and Botanical Gardens In honor of the International Children's Day, the Saigon Zoo and Botanical Gardens in downtown Ho Chi Minh City allows children under 1.3 meters tall to enter and participate in activities free of charge. The zoo has also opened a book garden so that children can enjoy an outdoor reading space surrounded by over 1,000 children’s books. Free admission is offered to kids under 1.3 meters tall at the Saigon Zoo and Botanical Gardens in Ho Chi Minh City on the International Children's Day , June 1, 2023. Photo: Bach Nam / Tuoi Tre Students … [Read more...] about Ho Chi Minh City celebrates International Children’s Day