City dwellers vs country dwellers

Ho Chi Minh City’s gross regional domestic product (GRDP) in the first quarter expanded a mere 0.7 percent year on year. The Ho Chi Minh city Institute for Development Studies (HIDS) on Wednesday cited statistics from the General Statistics Office of Vietnam as showing that the metropolis’ GRDP reached some VND360 trillion (US$15.3 billion) this quarter, inching up from the nearly VND247 trillion ($10.5 billion) in the same quarter of last year. The growth rate was higher than the 0.29 percent in the first quarter of 2022. However, experts were not surprised at the modest growth, saying that it had aligned with previously released forecasts. They also noted that growth in the second quarter of the year could be even lower. According to the HIDS, the city’s agro-forestry-fishery sector improved 2.06 percent, the service sector edged up 2.07 percent, and the industry and construction sector fell 3.6 percent, according to Thoi Bao Tai Chinh Viet Nam (Vietnam Financial Times). … [Read more...] about Ho Chi Minh City reports modest economic growth in Q1

On March 29, Deputy Prime Minister Tran Hong Ha signed Decision No.318/QD-TTg approving Khanh Hoa's master planning for the 2021-2030 period, with a vision to 2050. Accordingly, by 2030, the south central coastal province will fall directly under the central government as an international sea tourism and service centre, serving as the growth pole in the central coastal region, the Central Highlands, and the whole country in terms of the marine economy, high-tech industry, sci-tech, innovation, human resource training, and high-quality healthcare services. The province’s GRDP growth rate for the 2021-2030 period is set to average 8.3 per cent per year. Having been named as one of the leading coastal cities with the most liveable environment in Asia, Khanh Hoa aims to become a major marine hub for the country and a smart, environmentally friendly city that is on par with its regional peers in Asia. Khanh Hoa’s master planning for this period identifies four pillars for … [Read more...] about Khanh Hoa aims to become leading liveable coastal city in Asia

In Ho Chi Minh City , four out of the 11 commodity groups increased in price, three remained unchanged, and the rest saw prices fall in March. (Photo: VNA) Ho Chi Minh City (VNA) – Ho Chi Minh City’s Statistical Office on March 30 reported that the consumer price index (CPI) of the country's biggest metropolis increased by 0.04% in March. Four out of the 11 commodity groups increased in price, three remained unchanged, and the rest saw prices fall, it said. Beverages and tobacco, garments and footwear, housing and construction materials, equipment and household appliances all saw prices jump. Drugs and medical services, education, culture and entertainment held steady, while food and catering services, transportation, post and telecommunications, and other goods and services all fell in price. Analysing the price index movements of some industry groups compared to the previous month, the office said that the group of food and food services decreased by 0.27% in prices. … [Read more...] about Ho Chi Minh City CPI inches up by 0.04% in March

Nen said the exchange of experience in supervision over judicial affairs and the settlement of complaints has contributed to enhancing relations and sentiments between the Vietnamese and Lao parties, countries and people. Despite the complex and unpredictable regional and international situation, and the COVID-19 pandemic, the bilateral relationship has kept growing, with increasing political trust, he said. Nen highlighted the success of the Vietnam - Laos, Laos - Vietnam Friendship Year 2022 marking the 60th founding anniversary of the bilateral diplomatic ties and 45 years of the signing of the Treaty of Amity and Cooperation between the two countries. Ho Chi Minh City has also organized many visits to Laos, aiming to promote cooperation in trade, investment, tourism, training and health care, he continued. Municipal leaders are delighted at socio-economic achievements Laos has recorded over the past years, and believed that under the leadership of the Lao People’s … [Read more...] about Ho Chi Minh City’s leader receives Lao legislator

A resident buys food in a supermarket in Hanoi (Photo: VNA) Hanoi (VNS/VNA) - A recent report on the Cost of Living Index, published by the General Statistics Office , has revealed that Hanoi , the capital city of Vietnam, was the most expensive place to reside in the country in 2022. Quang Ninh ranked second on the list of the top five most expensive cities and provinces, followed by Ho Chi Minh City, Da Nang and Ba Ria-Vung Tau. Meanwhile, Quang Tri was found to be the locality with the lowest Spatial Cost of Living Index in 2022, followed by Tra Vinh, Ben Tre, Soc Trang and Nam Dinh. The Red River Delta retained its position as the most expensive region in the country, with the Northern Midland and Mountainous region and Southeast region following closely behind, according to the same report. Explaining the living cost difference between the Southeast region and the Red River Delta region, the report said the abundant supply of goods in the former, which … [Read more...] about Hanoi named most expensive city in Vietnam last year

According to information given by the UK outlet, Vietnam represents one of the countries that saw a significant hike in terms of searches and bookings, for the summer. The capital city of Hanoi reached a search and book rate of up to 298%, while Da Nang and Ho Chi Minh City were at 439% and 219%, respectively. Expedia noted that, these searches prove that, there is more to the world than stereotypical destinations that people tend to visit every year. “Hanoi is the country’s capital and is known as its art capital. You can find some of the city’s most exciting architecture and centuries-old culture,” the magazine revealed. Rounding off the list of the Top 5 is Japan, New Zealand, Italy, and France./. VNA … [Read more...] about Vietnam among world’s top 5 destinations to visit this summer

The stamp collection features blooming flowers from fern trees (Jacaranda mimosifolia). (Photo courtesy of Vietnam Post Corporation ) Hanoi (VNS/VNA) - A new stamp collection depicting the blooming flowers from fern trees (Jacaranda mimosifolia) that grow abundantly in Da Lat city in the central province of Lam Dong will be issued by Vietnam Post Corporation under the Ministry of Information and Communications on March 30. The release of the set aims to promote the images of biological diversity in Vietnam to the public. Designed by artist Nguyen Quang Vinh, the collection includes a 54x37 mm stamp and a 105 x 80 mm block. The stamp is a close-up image of a branch of blooming Jacaranda mimosifolia flowers and the block features a row of blooming fern trees. By using tempera watercolours, the artist has showcased the tender and poetic beauty of the flowers. Jacaranda mimosifolia is a species of plant in the family Bignoniaceae, with a woody stem, about 10 to … [Read more...] about New stamp set promotes Vietnamese biodiversity

GDP Deputy Chief Lieutenant General Nguyen Van Gau and VAVA President Senior Lieutenant General Nguyen Van Rinh co-chaired the event. During the working session, Gen. Rinh briefed the GDP on VAVA’s activities over the past time. Since its establishment on January 10, 2004, the VAVA has expanded its network of affiliated chapters in all 63 provinces and cities across the country with more than 400,000 members. The association has coordinated with the Labor, Invalids and Social Affairs sector to thoroughly grasp the situation about AO/dioxin victims, give advice to higher levels, and issue policies related to AO/dioxin victims, among others. Speaking at the event, Lt. Gen. Nguyen Van Gau highly valued VAVA’s great efforts in mobilizing resources to support AO/dioxin victims over the past time. Gen. Gau required the Department of Political Education and Information and relevant agencies to closely work with agencies and units inside and outside the military to promote information … [Read more...] about General Department of Political Affairs works with VAVA

Dr Tran Du Lich, a member of the National Advisory Council for Monetary Policies and vice president of the Vietnam International Arbitration Centre, speaks at the seminar on global minimum corporate tax in HCM City on March 29. — VNS Photo Viet Nam needs to develop appropriate policies to adapt to the global minimum tax and remain an attractive FDI destination, a seminar heard in HCM City on Wednesday. Dr Tran Du Lich told the seminar, titled "Global Minimum Corporate Tax - Prospects and Challenges in attracting FDI in HCM City", that the global minimum corporate tax rate of 15 per cent, which is set to be applied next year in Viet Nam, is forecast to have a significant impact on Viet Nam in whose economy FDI plays a significant role. The tax applies to multi-national corporations with revenues of at least 750 million euros (US$870 million). When a company invests in a foreign country but pays corporate income tax of less than 15 per cent in that country, it will have to pay … [Read more...] about Global minimum tax should not impact investors’ benefits: conference

A view of Lien Chieu District in Da Nang City. — VNA/VNS Photo Quoc Dung The central city of Da Nang is implementing many solutions to stop a decline in foreign direct investment (FDI), striving to attract US$7 billion worth of FDI by 2030. In the past two months of 2023, Da Nang licensed 16 new foreign-invested projects with a total registered capital of $2.55 million, down 54 per cent in capital over the same period last year, baodautu.vn reported. The city has to date attracted 965 foreign-invested projects capitalised at over $4 billion. Industry, real estate and services were fields that attracted the lion's share of FDI. Japan is currently the city's largest source of FDI, with over $900 million, followed by Singapore, the US, and South Korea. According to local authorities, FDI inflow into the city has been on a downward trend. One of the reasons was that due to the COVID-19 pandemic, foreign investors found difficulty in coming to Da Nang to explore investment … [Read more...] about Da Nang strives to revive FDI flow