Clearing in local currency sap

Vietnam will add more countries to its visa waiver program, offer a longer visa-free stay, and expand the list of countries eligible for e-visa application, Prime Minister Pham Minh Chinh told a teleconference on tourism development in 2023 titled ‘Boosting Tourism Recovery and Promoting Growth’ on Wednesday this week. These moves are expected to boost Vietnam’s inbound tourism one year after the country fully reopened its doors to international tourists on March 15 last year. Speaking at the event, Dang Minh Truong, chairman of Sun Group, said that Vietnam is in dire need of breakthrough solutions to prevent the tourist industry from lagging behind. Relevant ministries and departments should weigh up amending and supplementing regulations of the Law on Foreigners’ Entry in, Exit from, Transit through, and Residence in Vietnam, and report them to the prime minister as soon as possible. Besides, it is necessary to extend tourist visa validity for international tourists from 90 … [Read more...] about Vietnam strives to clear visa roadblocks to woo international tourists

Pointing to the murky waters of the Tonle Sap, Si Vorn fights back tears as she recalls her four-year-old daughter dying from diarrhoea after playing in the polluted lake. Her family of 12 is among 100,000 people living in floating houses on Cambodia's vast inland waterway, and while their village has 70 houses and a primary school, it has no sanitation system. Now a local social enterprise, Wetlands Work (WW), is trying to tackle the problem by rolling out "floating toilets" to filter waste, but the high cost of installation means for now they are available to only a lucky few. For generations, villagers whose livelihood depends on fishing have defecated directly into the water that they use for cooking, washing and bathing -- risking diarrhoea and even more severe water-borne diseases such as cholera. "We use this water, we drink this water, and we defecate into this water. Everything!" Si Vorn, 52, told AFP , saying her family fell ill all the time. "Every day, I worry … [Read more...] about ‘Floating Toilets’ Help Cambodia’s Lake-dwelling Poor

Climate change is an urgent problem for humanity in the 21 st century, and its importance was reinforced by the presence of 197 heads of state at the Climate Change Conference in Glasgow in 2021 (COP26). Vietnam has made strong commitments and issued its National Strategy on Climate Change for the period to 2050. Time for business action According to the World Bank, Vietnam is one of the most vulnerable countries to climate change. In 2020 alone, Vietnam has suffered a loss of $10 billion, equivalent to 3.2 per cent of GDP. Without a green transformation strategy, it is estimated that the nation could be losing 12-14 per cent of GDP every year by 2050. Green transformation describes the process of applying advanced processes and technologies to reshape business operations, ensuring economic growth, environmental sustainability, and social development. From an enterprise perspective, a common management solution is through a set of environmental, social and governance … [Read more...] about Net-Zero: Challenges and opportunities for Vietnamese businesses

Her family of 12 is among 100,000 people living in floating houses on Cambodia's vast inland waterway, and while their village has 70 houses and a primary school, it has no sanitation system. Now a local social enterprise, Wetlands Work (WW), is trying to tackle the problem by rolling out "floating toilets" to filter waste, but the high cost of installation means for now they are available to only a lucky few. For generations, villagers whose livelihood depends on fishing have defecated directly into the water that they use for cooking, washing and bathing -- risking diarrhea and even more severe water-borne diseases such as cholera. "We use this water, we drink this water, and we defecate into this water. Everything!" Si Vorn, 52, told AFP , saying her family fell ill all the time. "Every day, I worry about my health. Look at the water, there is no sanitation. I'm so worried but I don't know what to do." Microbe magic More than a million people live on or around Tonle … [Read more...] about ‘Floating toilets’ help Cambodia’s lake-dwelling poor

Stakeholders have much to say about the current state of the tourism industry, and what must be done Prime Minister Pham Minh Chinh chaired a tourism recovery conference on March 15 and talked to management agencies and tourism businesses about removing obstacles for the industry to thrive once again. Despite being one of the first Southeast Asian countries to fully reopen to international tourism after the pandemic, Vietnam’s tourism industry still trails other countries in the region. The PM raised a series of questions about tourism promotion, competitive advantages, products, and visa policies – all factors that are considered to be subjective causes for Vietnam’s tourism to fail its foreign tourism targets thus far. “Tourism cannot develop alone, and tourism cannot develop if culture and the entertainment industry do not develop,” PM Chinh said. He directed the tourism industry to build green and sustainable tourism products, finance tourism activities, and develop … [Read more...] about Tourism breakthrough within reach

Prime Minister Pham Minh Chinh (front row, fourth from right) with delegates from international organisations and business associations at the event. — VNA/VNS Photo Duong Giang The Vietnamese Government is committed to creating favourable conditions for businesses to develop, Prime Minister Pham Minh Chinh said at the Annual Viet Nam Business Forum held in Ha Noi on Sunday. It would continue to perfect mechanisms and policies to create a favourable and equal business environment, improve national competitiveness, remove difficulties for enterprises and increase transparency and equality in access to resources. Top priority would also be given to cutting costs for businesses and synchronously and effectively deploying policies to support firms in capital, technology transfer, training and human resource development. Viet Nam would also develop all kinds of markets, including goods and services, finance-currency, securities, real estate, science- technology, labour and public … [Read more...] about Viet Nam vows to faciliate businesses towards green growth, says PM

ROUNDTABLE: Seeking a boost for inbound tourism Speaking at the opening of the roundtable discussion, VIR's Editor-in-Chief Le Trong Minh shared, " Tourism is one of the most dynamic and fastest-growing economic sectors in the world today. Its importance in creating jobs and promoting growth is addressed in some of the Sustainable Development Goals in the United Nations Development programme." He cited statistics showing Vietnam's tourism created more than 1.3 million direct jobs in 2019, contributing 9.2 per cent of the country's total GDP (equivalent to $32.8 billion). This is a significant number, but it remains low compared to the global average. Vietnam has yet to unlock the full potential of its tourism industry. "Despite the economic volatility, the recovery of inbound tourism will bring many advantages, such as creating jobs and improving labour mobility. As the manufacturing industry is struggling due to a shrinking export market, tourism is a viable on-site … [Read more...] about VIR’s rountable discussion sheds lights on the recovery of inbound tourism

Asia extended a global equities rally Wednesday as more pledges of government support soothed worries over the banking sector and provided some much-needed stability after more than a week of upheaval. The dialling down of volatility allowed traders to turn their focus on the US Federal Reserve's policy decision later in the day, with the recent turmoil fuelling hope it will hold off on an expected sharp hike in interest rates. With the recent crisis blamed on the central bank's steep hike in borrowing costs over the past year, pressure is building on officials to pause their monetary tightening campaign, with many observers even tipping several cuts by the end of the year. While that would deal a blow to the Fed's fight against elevated inflation, such a move is seen by observers as crucial to reinforcing stability and preventing another blow-up in the financial sector. US and European markets surged at least one percent Tuesday, building on Monday's advances, as … [Read more...] about Asia tracks Wall St rally as Fed decision replaces bank worries

Hanoi's goal for 2023 is to secure the city's socio-economic performance and further develop a cultured, modern, and civilized society. Hanoi aims to constantly improve the leadership of the Party Committee and the sense of responsibility of government officials and Party members, especially the heads of government agencies, to fulfill all the socio-economic growth tasks set for 2023. Dinh Tien Dung, Member of the Politburo and Secretary of the Hanoi Party Committee, talks to Nhan Dan (People) newspaper about the plans and actions the city expects to carry out on the occasion of the 93rd anniversary of the founding of the Hanoi Party Committee. Dinh Tien Dung, Member of the Politburo and Secretary of the Hanoi Party Committee. Photo: The Hanoi Times As head of the Hanoi Party Committee, could you share some of Hanoi's achievements in the first half of 2020-2025? Hanoi has endured many international impacts in the past two and a half … [Read more...] about Innovation-centered approach boosts Hanoi’s performance in socio-economic growth

Working groups of the Vietnam Business Forum touched on a variety of topics and recommendations for greater progress Photo: Dung Minh During Sunday’s Vietnam Business Forum (VBF) in Hanoi, everything from the foreign labour situation and digital tax to combating climate change was discussed by the various participants, which included heads of influential international organisations. Arguably the most vital near-term issue according to those involved is power shortages being felt in some areas of the country. The Japan Chamber of Commerce and Industry (JCCI) said that northern industrial zones are being particularly affected, and it wants to see the nation’s Power Development Plan VIII to officially come on board as soon as possible. “In recent years, Japanese corporations have expanded their footprint in Vietnam to capture the great demand for renewable energy. But it is challenging for domestic businesses and financial institutions to independently execute large-scale power … [Read more...] about Business community leads call to action for authorities