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Vietnam is showing signs of socio-economic recovery though the COVID-19 pandemic remains complex, according to Francois Painchaud, Regional Resident Representative of the International Monetary Fund (IMF) in the country. IMF Regional Resident Representative Francois Painchaud addresses the Vietnam Economic Forum in Hanoi on December 5 (Photo: VNA) Speaking at the Vietnam Economic Forum 2021 on December 5, Painchaud said the this started in the fourth quarter, and the country can achieve a GDP growth rate of 2.5 percent this year and 6.6 percent in 2022. He underlined the importance of enhancing the healthcare capacity to economic recovery, noting that timely fiscal and monetary policies for right groups and tools of restructuring to support development in the long term can help minimise the pandemic’s impact. The official held that the size of fiscal measures in developed economies can be applied to other countries, including Vietnam. More …

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Illustrative image (Photo: VNA) Hanoi (VNA) - The Ministry of Public Security has officially established an airborne security unit under the Immigration Department, which is responsible for preventing and combating terrorist attacks and unlawful interference to ensure aviation security in Vietnam. After the Government issued Decree No. 922015 on October 13, 2015 on aviation security, the Ministry of Public Security directed the Border Security Department under the General Department of Security (now the Immigration Department ) to build a scheme on airborne security force. The Immigration Department has coordinated with competent ministries and agencies to complete the tasks and reported to the ministry for approval in early 2020. The airborne security force is in charge of preventing and combating terrorism, unlawful interference to ensure flight security of Vietnamese airlines. It would collect, synthesise, analyse, evaluate and forecast the situation related to …

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The mountain orange has entered the harvest season in the central Vietnamese province of Quang Nam, bringing joy to local residents as the fruit can be sold at good prices. Growing at an altitude of 1,200 meters, mountain oranges are considered the specialty of the mountainous commune of Gary. The orange trees are mainly found in Ating, Arooi, and Glao Villages, which are located along the Vietnam-Laos border. Residents put mountain oranges into baskets before the fruits are transported to other localities in Vietnam for sale. Photo: Tuoi Tre The Gary mountain oranges often have a dark yellow color, thick skin, strong aroma, and succulent flesh when they are ripe. The fruits have a distinctive sweet flavor mixed with slight sourness. Local residents do not know much about the origin of the mountain orange trees, as they had already been here before people came to settle in this remote area. A woman smiles, carrying a basket filled with mountain …

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A leader of a province that administers Vietnam’s ‘tourism haven’ Phu Quoc has denied a rumor that the Omicron variant of the coronovirus has made it to the island. Phu Quoc has recorded zero Omicron infections so far, Nguyen Luu Trung, deputy chairman of the People’s Committee of Kien Giang Province, which manages the island, told Tuoi Tre (Youth) newspaper, referring to the B.1.1.529 variant of SARS-CoV-2. First reported to the World Health Organization (WHO) by South Africa on September 24, the Omicron mutant was designated by WHO as a variant of concern two days later. Scientists said the new variant could be 500 percent more infectious than Delta, which is dominating infections around the world now. Trung quoted a report by the Kien Giang Department of Health as showing no Omicron cases on Phu Quoc, thus scotching a rumor on social media that the variant had hit the city island. “This [rumor] is false information spread to subvert the island [administration], at a time …

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Da Nang calls for RoK’s investment in ICT A forum to promote investment in information and communications technology (ICT) in the central city of Da Nang from the Republic of Korea (RoK) was held virtually on November 30, bringing together representatives from over 200 enterprises and investors from the two countries. The event aims to introduce potential, advantages, preferential and investment support policies of Da Nang to RoK businesses and investors, especially in ICT, and high technology. Addressing the event, Deputy Minister of Information and Communications Phan Tam said the RoK is the largest foreign investor in Vietnam with over 9,000 valid projects worth over 71.5 billion USD, including nearly 500 investment projects in the ICT field with the presence of the world's leading technology corporations such as Samsung and LG. To welcome more investments from the RoK, the Vietnamese Government has been perfecting models, mechanisms and policies to create breakthrough …

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Vietnam’s garment and textile exports to Mexico have increased strongly since the CPTPP went into effect What role do FTAs play? The year 2021 marks a difficult year for the national economy in general and businesses in particular. However, there have been many bright spots in the gloomy economic picture. Vietnam’s export turnover has increased strongly, with export growth of more than 20 percent in the first eight months of the year. Growth has been recorded in not only traditional markets, such as China and ASEAN countries, but also markets with which Vietnam has FTAs. Double-digit growth of Vietnam’s exports to Canada and Mexico has been maintained. Vietnam’s exports to Peru have also experienced impressive growth, while export growth to the EU reached about 12 percent in the first eight months of 2021. Vietnam has also started importing raw materials, as reflected through an increase in import turnover. Vietnam’s import turnover of fabrics has increased significantly …

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Sylvester Kinuthia - Head of Transaction Banking Standard Chartered Bank Vietnam When we look back to the first half of 2020, at the onset of the pandemic, digitisation was a crucial first-response action for businesses to implement continuity plans and stabilise operations. That has evolved – businesses are now rethinking their digitisation strategies to increase resilience and optimise business processes for future growth opportunities. Banking is one sector which is being disrupted from the outside, with the emergence of fintech companies offering a range of banking services but also from within the industry itself. Take the example of mobile access to banking services or instant payments. These are now customer expectations rather than differentiators. At Standard Chartered, we view digitisation as more than simply moving existing brick-and-mortar business models online. We see the potential for a wider industry transformation which can be achieved by continuously …

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A LienVietPostBank teller counts US dollars. VNA/VNS Photo HÀ NỘI — The World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD) forecast that remittances to Việt Nam are estimated at US$18.1 billion in 2021. As such, the country will be the eighth largest remittance recipient in the world and the third largest in the Asia-Pacific region this year. This will the fifth consecutive year that Việt Nam remains in the top ten in terms of remittances, with $13.8 billion in 2017, $15.9 billion in 2018 and $17.2 billion in 2019. According to Nguyễn Hoàng Minh, deputy director of the State Bank of Vietnam (SBV) in HCM City, remittances to HCM City – the country’s largest remittance recipient – were estimated to reach US$6.2 billion in the first eleven months of this year, against $6.1 billion for the whole of 2020. This year the city is expected to get around $6.5-6.6 billion worth of remittances, mainly from the US, Australia, Canada and the EU. Minh …

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The Director of the Department of Science, Technology and Environment under the Ministry of Construction Vũ Ngọc Anh. — Photo baoxaydung.com.vn Director of the Department of Science, Technology and Environment under the Ministry of Construction Vũ Ngọc Anh spoke with online newspaper Xây Dựng (Construction newspaper) about the need to improve the legal framework on urban underground space development. Can you briefly talk about current regulations on urban underground space in Việt Nam? In 2009, the 12th National Assembly passed Law No 30/2009/QH12 - the Law on Urban Planning, in which articles refer to underground space and urban underground works. Clause 19, Article 13 explains that underground space is the space that is planned to be used to build urban underground works. Article 66 of the law states that the exploitation and use of underground space for the construction of underground works must comply with approved urban planning. The …

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A LienVietPostBank teller counts US dollars. — VNA/VNS Photo The World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD) forecast that remittances to Viet Nam are estimated at US$18.1 billion in 2021. As such, the country will be the eighth largest remittance recipient in the world and the third largest in the Asia-Pacific region this year. This will the fifth consecutive year that Viet Nam remains in the top ten in terms of remittances, with $13.8 billion in 2017, $15.9 billion in 2018 and $17.2 billion in 2019. According to Nguyen Hoang Minh, deputy director of the State Bank of Vietnam (SBV) in HCM City, remittances to HCM City – the country’s largest remittance recipient – were estimated to reach US$6.2 billion in the first eleven months of this year, against $6.1 billion for the whole of 2020. This year the city is expected to get around $6.5-6.6 billion worth of remittances, mainly from the US, Australia, Canada and the EU. Minh …

[Read more...] about Remittances to Viet Nam to grow despite pandemic