An industry that vietnam had once targeted as a priority for development

The partnership will enable Australian firms to strengthen business links and identify trade and investment opportunities in the energy sector in Vietnam. Australian experts have discussed the energy transition between Vietnam and Australia and introduced new energy technologies and solutions to its Vietnamese partners. Australian energy delegation and Vietnamese partners. Photos: Australian Embassy in Hanoi The discussion, which aims to promote cooperation on renewable energy, is included in a series of activities in Hanoi and Ho Chi Minh City this week launched by the Australian Energy Trade Mission to Vietnam, part of celebrations of the 50th anniversary of bilateral relations. The Energy Transformation Forum was held under the partnership between the Australian Government Trade and Investment Commission (Austrade) and Vietnam’s Ministry of Industry and Trade, and Vietnam Electricity Group (EVN). Like Vietnam, the Australian government has made a … [Read more...] about Australia provides energy expertise to Vietnam

The fact that Asanzo only assembled products with components made by other companies but then labeled them as “Made-in Vietnam” is not an offense. The lack of specific criteria for “Made-in-Vietnam” products as well as for products assembled and then sold domestically means electronic firm Asanzo has not committed trade fraud, according to the conclusion the Anti-corruption, Economic crimes and Smuggling Department, aka C03, under the Ministry of Public Security. Electronic firm Asanzo is concluded not to commit trade fraud. As a result, the fact that Asanzo only assembled products with components made by other companies but then labeled them as “Made-in Vietnam”, “Manufactured in Vietnam”, or “Origin from Vietnam”, is not an offense, said C03. C03 requested the General Department of Vietnam Customs to check components and parts imported by Asanzo after they had been cleared by the customs authorities to ensure the firm’s compliance with laws on … [Read more...] about Vietnam electronic firm Asanzo not committed trade fraud

A factory in Dong Nai province's Giang Dien Industrial Zone. (Photo: VNA) Hanoi (VNS/VNA) - Vietnam attracted nearly 5.45 billion USD worth of foreign investment in the first quarter of the year, down 39% year-on-year, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment . Of the three-month figure, over 3 billion USD came from 522 newly-licensed projects, up 62% in a number of projects but down 6% in the amount of capital compared to the same period last year. Some 1.2 billion USD was added to 228 existing ones, representing a yearly hike of 3% in a number of projects and a yearly decline of 70.3% in the capital. However, foreign investors' capital contribution and share purchases rose 4% year-on-year to 798 million USD, the FIA said. Along with the contraction in fresh capital, the disbursed capital also slightly plunged 2.2% from a year earlier to 4.3 billion USD, it noted. The most significant proportion of the … [Read more...] about Vietnam’s foreign investment plunges 39% in Q1

A cross-functional team will be set up to work on improving the prospects of the local real estate market. Prime Minister Pham Minh Chinh has issued a document on solving real estate market problems and improving its prospects. An affordable housing project in Dong Anh District's Thang Long Industrial Park. Photo: Pham Hung/The Hanoi Times The document, numbered 178/TTg-CN, aligns with Resolution 33/NQ-CP dated March 11, 2023, which provides solutions to develop a healthy, transparent, and sustainable real estate sector. Under the latest document, the Ministry of Construction, the Ministry of Treasury, the State Bank of Vietnam, and related agencies will set up a working group and work with developers to resolve existing problems and increase confidence in the property market. The Prime Minister has asked the Ministry of Construction to finalize the plan to build one million affordable houses for low-income buyers and workers in industrial parks in … [Read more...] about New regulation in place to boost Vietnam’s real estate market

Tourists experience making clay arrows on the opening ceremony of  the Hanoi Tourism Festival 2023 on March 24 (Photo: VNA) Hanoi (VNA) – The Vietnam International Travel Mart (VITM) themed “Cultural tourism” will take place on April 13-16 at the Cultural Friendship Palace in Hanoi, featuring 450 pavilions from over 50 localities nationwide, and 15 countries and territories aroundthe world. The event is expected to attract over 60,000 visitors, and representatives from 2,500 businesses, that are interested in seeking cooperation opportunities and partners. Speaking at a press conference in Hanoi on March 28 to announce the event, Chairman of the Vietnam Tourism Association Vu The Binh said this year’s event aims to encourage travel firms to invest in developing new tourism products through making the most of unique traditional culture and culture heritage values of Vietnam. The difference in culture, customs, production activities, and daily life of 54 ethnic groups … [Read more...] about Vietnam International Travel Mart 2023 to spotlight cultural tourism

The resolution is a necessary move to ensure sustainable development of Vietnam’s exports and lawful rights of local compliant traders. The Vietnamese government on December 31, 2019 issued Resolution No.119/NQ-CP with an aim to address rampant cases of origin fraud and illegal transshipment, in a move to show its determination to ensure fair trade with major partners. Illustrative photo. The resolution is a necessary move to ensure sustainable development of Vietnam’s exports and lawful rights of local compliant traders, particularly with the enactment of new free trade agreements such as the Comprehensive Progressive Trans – Pacific Partnership (CPTPP) and the EU – Vietnam Free Trade Agreement (EVFTA) in the context of the ongoing US – China trade war, the Ministry of Industry and Trade (MoIT) said in a statement on its portal. Additionally, the resolution is expected to attract foreign investment in hi-tech projects with greater added value, helping local … [Read more...] about Vietnam government vows to combat origin fraud

Han River runs through the central city of Da Nang.  (Photo: VNA) Da Nang (VNA) – The People's Council of Da Nang city has just approved a resolution on the Da Nang city Master Plan for the 2021-2030 period, with a vision to 2050 which will be soon submitted to the government for approval. Accordingly, by 2030, the city expects to achieve an average annual economic growth rate of 9.5-10% and a gross regional domestic product (GRDP) per capita of about 200-220 million VND (8,500 – 9,350 USD) per person. By 2030, the city’s economic development will focus on three pillars, namely tourism, knowledge-based economy, and service centre. Under the master plan, the city also strives to have annual budget revenue increase of 9-11%, and total investment capital for social development by 11-12%. Da Nang city expects to have about 32,000-35,000 jobs created yearly by 2030. (Photo: VNA) The city targets to mobilise about 800 trillion VND in investment capital for social … [Read more...] about Da Nang targets annual growth of 9.5-10% by 2030

The "We are ABLE" project aims to strengthen the ability of children from ethnic minorities, especially girls, to overcome the challenges they face. The Ho Chi Minh Communist Youth Union on March 28 announced Phase II of the project "We are ABLE - Promoting Gender Equality and Girls' Education for Children in Ethnic Minority Areas of Viet Nam". The launching ceremony of UNESCO’s “We are ABLE” project occurred on March 28 in Hanoi. Photos: UNESCO Vietnam According to Christian Manhart, UNESCO Representative in Vietnam, the project is expected to contribute to the Vietnamese Government's new 10-year Strategic Plan for Education Development, the Strategy for Ethnic Minority Development, and the national commitment to achieving Sustainable Development Goals, especially Goal 4 on education and Goal 5 on gender equality. In Vietnam, ethnic minorities are often disadvantaged compared to the majority population due to stereotypes and other cultural barriers. … [Read more...] about UNESCO continues fund for gender equality project in Vietnam

The first quarter figures were around 60% of pre-pandemic levels and one-third of this year's 8-million target, according to a report released by the General Statistics Office (GSO) on Wednesday. The number is less than half of Thailand's 6.15 million arrivals. Arrivals from Asian countries to Vietnam surged 33 times year-on-year to 1.93 million, accounting for over half of total foreign arrivals in the first three months of this year, according to the GSO report. Tourists from Europe increased by 23 times to 385,000. Following repeated calls from industry insiders to relax immigration policies, the government announced it will ask the National Assembly, Vietnam's highest legislative body, to resume the three-month visa policy for foreigners entering Vietnam. The National Assembly's next meeting is in May. At present, the country only offers a one-month, single-entry e-visa to visitors from 80 countries. Despite being one of the first Southeast Asian countries to fully … [Read more...] about Foreign tourist arrivals in Vietnam skyrocket in Q1

The event is expected to attract over 60,000 visitors, and representatives from 2,500 businesses, that are interested in seeking cooperation opportunities and partners. Speaking at a press conference in Hanoi on March 28 to announce the event, Chairman of the Vietnam Tourism Association Vu The Binh said this year’s event aims to encourage travel firms to invest in developing new tourism products through making the most of unique traditional culture and culture heritage values of Vietnam. The difference in culture, customs, production activities, and daily life of 54 ethnic groups in Vietnam is always attractive to domestic and international tourists, Binh stressed, expressing his hope that VITM 2023 will help bring tourism into an important part of the cultural industry, thus contributing to preserving the value of Vietnamese cultural heritage. Within the event's framework, a forum on Vietnamese cultural tourism development will be held on April 14, with the participation of … [Read more...] about Vietnam International Travel Mart 2023 to spotlight culture tourism