Developing policies and procedures

Tourists visit The Huc bridge, Ngoc Son temple in Hanoi (Photo: VNA) Hanoi (VNA) – Experts are calling for a favourable visa policy to attract foreign tourists, saying that it should be a priority. foreign arrivals reached 3.7 million in the first four months of this year, hence, the tourism sector must race to meet the goal. Ministry of Culture , Sports and Tourism, together with several foreign diplomatic missions in Vietnam, the European Chamber of Commerce, the American Chamber of Commerce in Vietnam, the Vietnam Business Forum, the Tourism Advisory Board and the Private Economic Development Research Board (Board IV) also made proposals for a more favourable visa policy to improve the competitiveness of Vietnam’s tourism industry. At a book street in Ho Chi Minh City (Photo: VNA) VNA … [Read more...] about Favourable visa policy urged to draw tourists

Last year, Vietnam welcomed over 3.66 million foreign visitors, or over 73% of the target. This year’s figure is set at 8 million, which is an uneasy task. The number of foreign arrivals reached 3.7 million in the first four months of this year, hence, the tourism sector must race to meet the goal. The Ministry of Culture, Sports and Tourism, together with several foreign diplomatic missions in Vietnam, the European Chamber of Commerce, the American Chamber of Commerce in Vietnam, the Vietnam Business Forum, the Tourism Advisory Board and the Private Economic Development Research Board (Board IV) also made proposals for a more favorable visa policy to improve the competitiveness of Vietnam’s tourism industry. Suggested changes in the visa policy are related to the amendment and supplementation of several articles of the Law on Entry and Exit of Vietnamese Citizens and the Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam. If approved, the new entry and visa … [Read more...] about Favorable visa policy urged to draw tourists

Vietnam has more than 12,000 newly-established enterprises with a total registered capital of 103.7 trillion VND (4.44 billion USD) in May. (Photo: VNA) Hanoi (VNA) – Vietnam had more than 12,000 newly-established enterprises with a total registered capital of 103.7 trillion VND (4.44 billion USD) in May, according to the General Statistics Office (GSO). These figures were sharply down by 24.2% and 32.9% in the number of newly registered enterprises and the registered capital respectively from the previous month, reflecting a downward trend in the business climate among individuals and enterprises as difficulties and risks facing the economy may last long. Besides, 33,000 enterprises returned to operation, down 7.4% over the same period last year, bringing the total number of newly established enterprises and those returning to operation in the five months period to nearly 95,000, a fall of 3.7% compared the same period last year. On average, nearly 19,000 businesses were … [Read more...] about Newly established firms decrease 24% in May

Printer production at Canon Vietnam (Photo: hanoimoi.com.vn) Hanoi (VNA) – Amid the slowing down of the global investment flows, experts held that improving both quality and number of foreign investment projects is a heavy task for Vietnam, requiring great efforts from the Vietnamese Government to fulfil the “dual targets”. According to the Foreign Investment Agency under the Ministry of Planning and Investment (MPI), as of May 20, Vietnam had drawn 10.86 billion USD of foreign direct investment (FDI), down 7.3% year on year, including 5.26 billion USD of newly-registered capital, up 27.8%. Do Nhat Hoang, Director of the agency said that the increase in the amount of newly-registered capital in five months was higher than the 11% recorded in the first four months of this year. Meanwhile, the number of new projects in the five-month period also surged 66.4% year on year to 962 projects, showing foreign investors’ strong confidence in the investment environment of Vietnam … [Read more...] about Improving FDI quality, quantity crucial for Vietnam: Insiders

An overview of the NA's fifth session. (Photo: VNA) Hanoi (VNA) – National Assembly (NA) deputies will continue their ongoing fifth session on May 30 discussing important matters, including a draft Law on Electronic Transactions (revised) and a draft resolution on pilot special policies for the development of Ho Chi Minh City. The draft Law on Electronic Transactions (revised) has seven chapters and 54 articles. Compared to the current version, the bill has 31 new and nine amended articles, while erasing a number of regulations in five and eliminating three articles. During the morning discussion, NA deputies will decide the investment policy for the project to construct road from National Highway 27C to Road 656 in Khanh Hoa province which links to Lam Dong and Ninh Thuan provinces, as well as the adjustment of the investment policy for Ka Pet reservoir in Ham Thuan Nam district of Binh Thuan province. In the afternoon, they are scheduled to listen to a proposal and a … [Read more...] about NA deputies continue to discuss draft laws, resolutions on May 30

HCM City seeks ways to attract more remittances. (Photo: VNA) HCM City (VNA) – The southern largest economic hub of Ho Chi Minh City is striving to achieve an annual growth rate of at least 10% in the inflow of remittances during the 2023-2025 period and maintains this rate in 2025-2030. The information was heard at a seminar held in the city on May 29 by the State Committee for Overseas Vietnamese Affairs of HCM City, in coordination with the State Bank of Vietnam (SBV) Branch in HCM City to seek comments and solutions of overseas Vietnamese intellectuals to effectively attract and optimise remittance resources in the city. Remittances to Ho Chi Minh City have always maintained a relatively high growth rate and play a crucial role in the city’s socio-economic development. (Photo: VNA) According to Nguyen Duc Lenh, Deputy Director of the SBV Branch in HCM City, remittances to the city have always maintained a relatively high growth rate and play a crucial role in … [Read more...] about HCM City seeks ways to attract more remittances

Prime Minister Pham Minh Chinh presents gifts to teachers and students of SOS Hermann Gmeiner School. (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh on May 30 visited educational institutions for disadvantaged children in Hanoi on the occasion of International Children’s Day (June 1) and Action Month for Children. At the SOS Hermann Gmeiner School, established in 1994 with its construction funded by the SOS Children’s Village, Chinh presented gifts to the school and its outstanding students. The school was named after Austrian philanthropist Hermann Gmeiner – the founder of the SOS Children’s Village, which is home to underprivileged children. It provides primary and secondary education for children in the SOS Children’s Village Vietnam, those belonging to poor households and other vulnerable children. The government leader also made a field trip to a centre for integration education development under the National College for Education, which admits more … [Read more...] about Prime Minister visits educational institutions for disadvantaged children

Speakers at a meeting in HCM City on Monday to discuss ways for the city to attract remittances and investment. — Photo danviet.vn HCM City will improve its business climate and create favourable conditions to attract remittances and investment, said a city official. Speaking at a meeting on Monday, Nguyen Duc Lenh, deputy director of the State Bank of Viet Nam (SBV) HCM City branch, said the city planned to enhance monetary and foreign exchange policies and remittance services. Options for remittances include money transfers, cheques, bank transfers, prepaid cards and several other ways of sending money without a bank account. "Besides foreign investment (FDI), remittances are a major source that helps ensure the foreign currency supply and stabilise the national foreign exchange reserves," he said. Financial and banking expert Nguyen Tri Hieu said Viet Nam should ensure stable macroeconomic policies to increase the confidence of overseas Vietnamese to send back money for … [Read more...] about HCM City seeks to attract remittances, investment

President Vo Van Thuong greets the revolution contributors from Vinh Long province in Hanoi on May 30. (Photo: VNA) Hanoi (VNA) – President Vo Van Thuong had a meeting with a delegation of 70 revolution contributors from the Mekong Delta province of Vinh Long in Hanoi on May 30. The Vinh Long delegates include war invalids, those used to be imprisoned by enemies or affected by Agent Orange/dioxin, martyrs’ relatives, and families of revolution contributors. Appreciating the Party, State, and society’s attention and assistance to revolution contributors nationwide, including those in Vinh Long, they said they have always stayed united and made efforts to improve their life, contribute to local and national development, and join hands with authorities in repatriating martyrs’ remains and building, upgrading monuments to martyrs. They pledged to uphold revolutionary traditions, set good examples, and educate younger generations on the traditions so that Vinh Long will … [Read more...] about State leader hails dedications by Vinh Long revolution contributors

A customer uses QR code for payment at Con market in the central city of Da Nang. — VNA/VNS Photo Van Dung The State Bank of Viet Nam (SBV) has requested banks, branches of foreign banks, and providers of intermediary payment services to take steps to continue promoting cashless payments and the implementation of the national digital transformation programme. The move is also set to help with the plan on developing the application of resident data and electronic identification and authentication to serve national digital transformation for the 2022 - 25 period, with a vision to 2030. In its Document No 3956/NHNN-TT, the SBV asked banks, foreign banks’ branches, and intermediary payment service providers to continue considering and offering preferential programmes and policies on payment and intermediary payment service fees to customers, and exempt account maintenance fees as well as cash withdrawal fees for the customers entitled to the social security policy. They were told … [Read more...] about Central bank demands stronger promotion of cashless payment