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"With the approaching summer holidays and potential easing of visa restrictions, which are under considerations by the National Assembly, Vietnam will likely see a punchier boost from international tourism, a much-needed support for its sharply slowing economy," HSBC said in a report. Vietnam has received 4.6 million international tourists so far this year, around 60% of this year’s target of 8 million. In May alone, it received over 916,000 foreign tourist arrivals. Despite falling slightly from April’s figure, Vietnam has seen its inbound tourism recovery reach around 70% of pre-pandemic levels. Tourists from China, the biggest feeder market of Vietnam’s tourism before the pandemic, have recovered to 35% of pre-pandemic levels. Legislators will vote on new bill on June 24 that seeks to extend the validity of e-visas from 30 days to a maximum of three months and allow multiple entries, and triple to 45 days the duration of visa-free stays for tourists from certain … [Read more...] about Vietnam tourism forecast to see robust growth as visa restrictions relaxed: HSBC

Illustrative image. (Photo: VNA) Hanoi (VNA) - The World Bank (WB) on May 31 approved a 176-million-USD loan to fund a fisheries project that aims to improve fisheries management, enhance the value of fisheries production , and raise income s for coastal communities in the Philippines. The project is expected to benefit more than 1.5 million fisherfolk, small-to-medium businesses, and residents in coastal communities, the multilateral lender said in a statement. According to the WB, the fisheries sector contributes 1.3% to the Southeast Asian country's gross domestic product. It provides approximately 1.6 million jobs, or around 4% of the labour force, including for low-income families engaged in subsistence fishing. However, the sector has faced challenges, with fish stocks declining by an average of 20% over the past decade due to over-exploitation, destructive fishing methods, habitat degradation, and negative impacts from land-based activities. This … [Read more...] about World Bank approves 176-million-USD fisheries project in Philippines

Quang Binh Province, famous for cave tours, is offering a new travel experience that allows tourists to slide down a 600-metre-long line amidst a hidden valley inside Phong Nha-Ke Bang National Park. Quang Binh, home to UNESCO heritage site Phong Nha-Ke Bang National Park, is famous for its pristine caves and beautiful tourism sites. Along with famous places such as Thien Duong Cave, Chay River - Dark Cave, Nuoc Mooc Stream, Ngoc Bich Valley in Phong Nha-Ke Bang has become an emerging tourist destination. Ngoc Bich is located in Chay Lap Village, Phuc Trach commune, Bo Trach District. Covering 12 hectares, the valley is surrounded by high mountains, green jungle with Chay River flowing through, creating a beautiful natural landscape in the heart of Quang Binh. The most ideal time to visit Ngoc Bich Valley is in the summer. Due to its location right next to Dark Cave, the valley has a section of the Chay River flowing … [Read more...] about New Quang Binh adventure tour

Vietnam has the 15th largest population of smokers in the world, and approximately 40,000 people die each year from diseases caused by smoking. National lawmakers have called on the Government to ban all e-cigarette products in Vietnam soon, citing health concerns. A no-smoking sign is labeled at a bookstore in Hanoi. Photo: Văn Sinh/The Hanoi Times The Government should amend the Law on Tobacco Harm Prevention and related regulations to stop the trade, circulation and use of e-cigarettes in Vietnam, Hanoi deputy Nguyen Anh Tri said on June 1. All these actions should be dealt with under the Penal Code, he said. Tri said new generations of cigarette products, including e-cigarettes, may contain illegal drugs and cause severe damage to people's health. However, he said, hardly anything was done to prevent these products from adversely affecting society. He called on the government to reduce the smoking rate to 30% by 2030. "The Government needs … [Read more...] about Vietnamese Government urged to ban e-cigarettes

The Southeast Asian country holds tremendous potential to be a global trading hub. Vietnam is likely to earn US$618 billion in exports by 2030, with an annual growth rate of 7%, according to Standard Chartered. "Vietnam will be a key driver of this global trade growth, outpacing the global average of 5% by a significant two percentage points," said the research report titled "Future of Trade: New opportunities in high-growth corridors". Vietnam will be a key driver of this global trade growth. Photo: dinhvuport.com.vn The UK-based bank projects that global trade will reach $32.6 trillion with a growth rate of 5% by 2030. Trade corridors anchored in Asia, Africa, and the Middle East will outpace the global trade growth rate by up to four percentage points, driving combined trade volume to $14.4 trillion to account for 44% of international trade by 2030. Mainland China, South Korea, and the US are expected to be Vietnam’s key trade partners in the … [Read more...] about Vietnam’s exports to hit $618 billion by 2030

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

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

FPT IS teamed up with SAP to introduce the brand-new ERP cloud solution at a seminar last week centred around growing a business with cloud-based solutions. The seminar attracted more than 100 senior leaders from enterprises in various fields such as manufacturing, trade and services, retail, technology, finance and banking, among others, indicating great interest from the market towards the solution. The seminar "Business growth with SAP S/4HANA Public Cloud" was jointly organised by FPT IS and SAP Speaking at the event, Phan Thanh Son, chief business development officer, FPT IS , noted that the uncertainty and constant fluctuations in the market require firms to equip a solid and flexible management system that can adapt to increasingly rapid and diverse systematic changes. In Son's words, “SAP's new ERP cloud solution delivers an open approach for enterprises of all sizes and from different industries to quickly adopt management processes compliant with … [Read more...] about FPT IS and SAP introduce new ERP cloud solution

An elderly woman in the central province of Nghe An's Quynh Luu District is in desperate need of help to support her disabled son. Ho Thi Van and her disabled son Nguyen Ba Cuong Ho Thi Van, 78, said that she has three sons who all have weak health caused by Agent Orange that she might have been exposed to when joining the American War during the 1960s. While the eldest Nguyen Ba Hung, 49, and the youngest Nguyen Ba Phuong, 38, have better health condition, her second son Nguyen Ba Cuong, 47, suffers serious amyotrophia and only weighs nearly 10 kilos. "I was not afraid of death while joining the war, but now I'm afraid of it," Van said. "I want to live to take care of my disabled son. However, my left eye has gone blind and my right eye also has poor sight. Now I can only do some light housework." According to the mother, Cuong was born ailing and has had to depend on others for all daily activities. Her husband died many years ago, and she has raised three … [Read more...] about Nghe An elderly woman needs help to support disabled son

Illustrative photo (Photo: businessinsider.com) Hanoi (VNA) – Four out of the five international undersea cables that were damaged last year and early this year have been repaired, the Department of Telecommunications under the Ministry of Information and Communications announced on June 1. Up to now, only the Asia Pacific Gateway (APG) internet cable that connects Vietnam with the rest of Asia is still experiencing errors. The APG, with 10,400 km of cable under the Pacific Ocean, is the cable with the largest bandwidth connecting to Vietnam. It provides a maximum bandwidth of 54 terabytes per second and opened in 2016. In late December 2022 and mid-January this year, the cable had an problem with its connection to Hong Kong and another cable 151 km offshore. The two errors affected the entire line. The errors on APG route are expected to be fixed in June. With the completed repair and restoration of normal operation by four undersea cable routes - IA , SMW3, AAE-1 … [Read more...] about Internet speeds up as four of five undersea cables repaired