Asia africa market department

Hue city was the imperial capital of Vietnam for hundreds of years. It is home to five UNESCO-recognized heritage elements, namely the Hue ancient citadel relic complex – a World Cultural Heritage site; Nha Nhac (Hue royal court music) - an intangible cultural heritage item; Nguyen Dynasty’s wood blocks – a documentary heritage item; Nguyen Dynasty’s Chau ban (royal administrative documents) – part of the Asia-Pacific Register of UNESCO’s Memory of the World Program; and literature on Hue royal architecture - a documentary heritage. … [Read more...] about Thua Thien – Hue announces tourism identification logo

Thuy said against the background of the global and domestic macro-economy, the overall balance of payments may remain a surplus, or in other words, foreign currency supply is still greater than demand. In particular, the element deemed to play the most important role would be foreign investment. The dynamic and healthy development of Vietnam’s economy with such driving forces as the openness of the economy, the population structure, and the process of restructuring and urbanization will continue to lure capital flows from abroad to Vietnam in various forms—from remittances to direct and indirect investment. … [Read more...] about Peacetime in sight for the dong

Hanoi (VNA) – Vietnamese communities all over the world held separate gatherings on January 18 to celebrate the Tet (Lunar New Year), which falls on January 25. In Russia, the Consulate General of Vietnam in Ekaterinburg hosted a get-together in Ufa, the capital city of the Republic of Bashkortostan during which Consul General Ngo Phuong Nghi said he was happy to celebrate the traditional New Year with Vietnamese people living here. He briefed his guests on Vietnam’s outstanding political and economic achievements last year and lauded the strong development of the Vietnamese community in Ufa. In Berlin, Germany, Vietnamese Ambassador Nguyen Minh Vu spoke highly of the bilateral relations between the two countries, saying this year, the two sides will mark the 45th anniversary of diplomatic ties and 10th years of the Strategic Partnership. He hoped that Vietnam and Germany will together foster cooperation in various areas, from economy, politics, education, … [Read more...] about Vietnamese people abroad gather for Tet

A 22-year-old man and a three-year-old boy who traveled to Vietnam from China’s Wuhang City, where the pneumonia outbreak started in late December, were part of a tour group. Their temperatures were high and both were quarantined right after landing at the Da Nang Airport. … [Read more...] about Chinese tourists quarantined in Da Nang not infected with deadly virus

The impact of global inflation on Vietnam’s economy may be unsubstantial. Since 2014, Vietnam’s inflation has been stable at under 4% per year, principally assisted by controlled credit growth and stable money supply (M2), at 15%-20%. Last year, credit growth was only 13%, which helped keep monetary inflation under control. The salary growth in 2020 is not high, which thus minimizes demand-pull inflation. However, the highest risk is projected to come from cost-push inflation. Pork price has risen sharply during the past three months, which boosted year-on-year (YoY) inflation by the end of December to 5.2%. According to Bao Viet Securities Company’s report, CPI YoY will be especially high (5%-5.5%) in the first half of the year before cooling down toward the end of the year. Generally speaking, CPI YoY by the end of 2020 will be around 3.2%-3.6% while the average CPI in 2020 may be more or less 4%. … [Read more...] about Not too many macro fluctuations expected for 2020