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The Vietnamese Ministry of Information and Communications, at a working session on Wednesday with the U.S.-ASEAN Business Council (USABC) and representatives from many U.S. enterprises, called on U.S enterprises to support Vietnamese enterprises, especially SMEs, in digital transformation. Following a working session with Vietnamese Prime Minister Pham Minh Chinh, the USABC and U.S. enterprises, who are in Vietnam to seek cooperation, investment, and business opportunities, held a meeting with the Vietnamese Ministry of Information and Communications. A view of the working session between Vietnamese Prime Minister Pham Minh Chinh and the U.S.-ASEAN Business Council. Photo: Duong Giang / Tuoi Tre USABC President and CEO Ted Osius took time from the meeting to share his appreciation for the potential of Vietnam’s digital economy. According to Osius, U.S. enterprises are paying attention to the Southeast Asian country’s policies aimed at boosting the digital economy, … [Read more...] about Vietnam calls for U.S. support in digital transformation

The number of Cambodian travelers entering Vietnam is on the high rise, with the primary purpose of these visits quickly shifting from medical tourism to vacation tourism. Vietnam currently welcomes over one million Cambodian tourists each year – a figure which has surged since the end of the COVID-19 pandemic. Still, many local travel firms claim the number of Vietnamese companies offering tourism geared toward Cambodian tourists remains limited. Extended stays According to Pham Ngoc Ha, deputy general director of Saco Travel Company, her firm has been facilitating travel for scores of weekend travelers from the Cambodian provinces which border Tay Ninh Province in southern Vietnam. Popular tourism attractions for these visitors were local pagodas and Ba Den Mountain in Tay Ninh. Prior to the COVID-19 pandemic, many of these tours lasted just one day. Now more and more Cambodian tourists are opting for four-day, three-night tours to Ho Chi Minh City and other major … [Read more...] about Vietnam a major destination for Cambodian tourists

The maximum airfare on four out of five flight distances will rise in the second or third quarter, according to a recent price report of the Ministry of Finance. The biggest increase will be 6.67% (to VND4 million or $170) for one-way tickets on flights of 1,280 kilometers (Hanoi to Phu Quoc Island) and longer. Flights between 1,000 and 1,280 kilometers will see their ticket cap price rise 6.25% to VND3.4 million. Flights of smaller distances will see their maximum price rise by between 2.27% and 3.58%. Flights under 500 kilometers will see no ceiling change. Their prices will remain at a maximum of VND1.7 million per one-way ticket. The cap price increase will likely bring Vietnam’s 2023 Consumer Price Index up by 0.07% points. Earlier this year, Vietnam Airlines and Bamboo Airways proposed increasing the cap ticket price to take into account rising in costs. The airfare price cap was last increased in 2015. By November last year, fuel costs had surged more than 80% … [Read more...] about Vietnam to raise air ticket price cap

Visitors arrive at Moc Bai border gate in Tay Ninh province. Illustrative image (Photo: tuoitre.vn) Hanoi (VNA) – The number of Cambodian tourists coming to Vietnam has increased significantly, Tuoi tre (Youth) newspaper, citing statistics of travel agencies. Vietnam mainly for medical services, but over several recent years, the inflow of middle-class visitors from the neighbouring country to Vietnam for tourism purpose has been rising, especially after the COVID-19 pandemic was put under control. The central beach city of Da Nang, the ancient town of Hoi An, Da Lat – the city of thousand flowers in the Central Highlands region, Nha Trang, Vung Tau and the “Paradise Pearl Island” of Phu Quoc are some of top favourite destinations among Cambodian tourists. Tran Quoc Thinh, director of Tay Ninh province’s Tourism Promotion Centre said Cambodia is a traditional tourism market of Tay Ninh, which shares a 240-km border with Cambodia’s Svay Rieng, Prey Vieng and Tboung Khmum … [Read more...] about Vietnam becomes favourite destination for Cambodian tourists

Vietnamese Deputy Defense Minister Senior Lieutenant General Hoang Xuan Chien and his Lao counterpart Lieutenant General Vongkham Phommakone co-chaired the event. At the dialogue, the two sides shared a common perception on the impacts of regional and global situations, the rise of non-traditional security challenges, major power’s growing competition for influence in Asia-Pacific. They agreed that in that context, ASEAN has continued to promote its centrality in the region, enhance dialogues and cooperation among ASEAN member states and other partners for regional peace and stability. The two sides spoke highly of the outcomes of their bilateral defense cooperation over the past time, especially the successful organization of nearly 30 big and meaningful activities in the Vietnam - Laos, Laos - Vietnam Year of Solidarity and Friendship in 2022. They also praised the two sides’ agencies and units for their great efforts and close coordination to fulfill the cooperation plan for … [Read more...] about Vietnam, Laos hold 3rd defense policy dialogue

A dengue fever patient receives treatment. (Photo: suckhoedoisong.vn) Hanoi (VNA) - The Ministry of Health reports that the number of dengue fever cases across the nation has increased 2.3 times in the first two months of 2023 compared to the same period last year, with southern and central provinces being hit the hardest. In response to the growing crisis, the ministry has issued a directive to the people's committees of provinces and cities to implement preventative measures before the peak months of 2023. The directive urges localities to disseminate information on dengue fever and organise activities for the ASEAN Day of Dengue Prevention and Control. Additionally, relevant agencies and the medical sector have been assigned to carry out campaigns on environmental sanitation and larvae eradication, ensuring that households in epidemic and at-risk areas are regularly monitored for mosquito's breeding grounds such as water tanks and waste bins. To facilitate early … [Read more...] about Enhanced dengue prevention measures needed as cases rise

A corner of Vinamilk (VNM) Tay Ninh dairy farm. VNM rose 1.2 per cent on Thursday. — Photo Vinamilk Local shares rose for a third day, buoyed by foreign trading and the positive performance of oil and bank stocks. On the Ho Chi Minh Stock Exchange, the VN-Index rose 0.44 per cent to close Thursday at 1,045.10 points. Market breadth was negative with 179 rising stocks and 195 losing ones. Nearly 431 million shares worth VND7.8 trillion (US$332 million) were traded on HCM City’s bourse. On HOSE, foreign investors were net buyers with a value of approximately VND336 billion. Vinhomes (VHM) was the strongest net bought with a value of VND89 billion. This is also the third session in a row that this real estate code has been purchased the most by foreign investors on HOSE. Hoa Phat Group (HPG) ranked next on the list with VND80 billion. Foreign investors also net bought Vinamilk (VNM) and SSI Securities Inc (SSI) with the value of VND68 billion and VND32 billion, … [Read more...] about Shares rise on foreign buying

High pedestal to reach for 2023’s growth ambitions Vietnam’s economic growth is projected to ease to 6.3 per cent in 2023 from a robust 8.02 per cent last year, as services growth moderates and higher prices and interest rates weigh on households and investors, according to the World Bank’s latest Taking Stock report released last week. Growth is expected to pick up to 6.5 per cent in 2024 as the economies of Vietnam’s main export markets gain strength, the report said. The outlook for Vietnam reflects heightened uncertainty in the global economy. Downside risks include weaker-than-expected growth in Vietnam’s major export markets, which include the United States, China, and the Eurozone, tightening financial conditions, higher domestic inflation, weaknesses in the balance sheets of corporate, banking and household sectors, and financial sector vulnerabilities. The Vietnamese government has set a target that GDP will increase 5.6 per cent in Q1, 6.7 per cent in Q2, 6.5 per … [Read more...] about High pedestal to reach for 2023’s growth ambitions

Illustrative image (Photo: Bao Viet) Hanoi (VNS/VNA) - Experts have predicted that the health and vehicle insurance sectors will continue to serve as the primary growth drivers for non-life insurance in Vietnam this year. Data from the Vietnam Insurance Association reveals that non-life insurance and health insurance comprised the largest proportion of the insurance industry's premium revenue last year, accounting for approximately 33.2%, with revenue of 22.41 trillion VND. This represented a 24.3% increase from the same period in 2021. In the meantime, vehicle insurance generated a revenue of 18.1 trillion VND, comprising 26.8% of the overall market revenue and witnessing an 11.9% growth rate over the same period in 2021. Health and vehicle insurance products are expected to continue to increase this year, especially when the awareness of people and economic organisations about the role of insurance continues to be improved. Regarding health insurance, the … [Read more...] about Health, vehicles main growth drivers for non-life insurers in 2023

A customer examining a vehicle insurance product at Bao Viet Insurance Group’s office. The potential growth of vehicle insurance is high car travel increase. — VNA/VNS Photo Experts have predicted that the health and vehicle insurance sectors will continue to serve as the primary growth drivers for non-life insurance in Viet Nam this year. Data from the Vietnam Insurance Association reveals that non-life insurance and health insurance comprised the largest proportion of the insurance industry's premium revenue last year, accounting for approximately 33.2 per cent, with revenue of VND22.41 trillion. This represented a 24.3 per cent increase from the same period in 2021. In the meantime, vehicle insurance generated a revenue of VND18.1 trillion, comprising 26.8 per cent of the overall market revenue and witnessing an 11.9 per cent growth rate over the same period in 2021. Health and vehicle insurance products are expected to continue to increase this year, especially when the … [Read more...] about Health and vehicles to be main growth drivers for non-life insurers in 2023