Economic events

Hanoi is committed to working closely and effectively with Ho Chi Minh City and the Central Key Economic Zone in tourism. The link between Hanoi, Ho Chi Minh City, and the Central Key Economic Zone [comprising five localities of Thua Thien - Hue, Danang, Quang Nam, Quang Ngai, and Binh Dinh] is very important in the tourism development of those localities and the whole country. Nguyen Hong Minh, Deputy Director of the Hanoi Department of Tourism, emphasized the need for closer connection at the preliminary conference on tourism development linkage between Hanoi, Ho Chi Minh City, and the five localities for 2021-2025 on August 8 in Quang Ngai Province. tourism in Hanoi and six cities and provinces have had positive results in the past time. Photo: Sun Group After two years of implementation, despite difficulties due to the Covid-19 pandemic, the city along with other provinces and cities has actively exchanged information, built new orientations in local … [Read more...] about Hanoi strengthens tourism cooperation with Central Key Economic Zone

At the hybrid event, he also urged keeping a closer watch on the situation, intensifying preventive and grassroots health care and vaccination, and enhancing disciplines; adding that greater efforts are needed to step up production and business, and public investment disbursement. Unnecessary spendings must be cut and the administration done concertedly and smoothly, the leader emphasized. Chinh pointed out uncertainties in the first seven months of this year, including unprecedented ones, such as the conflict in Ukraine, soaring oil and gas prices, inflation in many countries, and epidemics. Meanwhile, the domestic economy has shown limited resilience to external shocks, he noted. Apart from achievements, problems still remain such as inflation pressure and risk, price fluctuations and low public investment disbursement, he said, adding that some socio-economic recovery and development targets have yet to meet expectations. The participants are scheduled to look into the … [Read more...] about Prime Minister chairs government meeting on socio-economic situation

The conference was held in the district of Tu Nghia, the south-central province of Quang Ngai, to review the two-year cooperation for tourism development among the two metropolises and the central localities of Thua Thien Hue, Da Nang, Quang Nam, Quang Ngai, and Binh Dinh. The review was expected to lay ground for the continued implementation of initiatives to boost intra-bloc partnership in tourism development post-pandemic. Reports showed that intra-bloc tourist arrivals totaled more than 17,68 million last year, given that the sector was badly hit by COVID-19. With COVID-19 restrictions removed, the figure reached close to 32.92 million, including some 1 million foreign arrivals, in the first half of 2022, generating total turnover of over 87.89 trillion VND. Addressing the event, Vice Chairman of the Quang Ngai provincial People’s Committee Tran Hoang Tuan said the cooperation has reaped important achievements, contributing to the post-pandemic recovery and growth of the … [Read more...] about Hanoi, HCM City boost tourism linkages with Central Key Economic Zone

Vietnam’s digital transformation is designed to be based on three main pillars namely institution, infrastructure, and manpower. Digital transformation plays a major role in building an independent and integrated economy, Vietnam’s Prime Minister Pham Minh Chinh made the statement today. The country should not remain outside this process and building successful digital-based economy and society needs to begin with e-government, Chinh, who is also Chairman of the National Committee for Digital Transformation, said at the committee’s 3rd meeting on August 9. The event drew the participation of more than 130,000 officials nationwide, including Deputy Prime Minister Vu Duc Dam and many cabinet members, to discuss the application of population data and electronic identification and authentication for national digital transformation in the 2022-2025 period with a vision to 2030. Vietnam's Prime Minister Pham Minh Chinh speaks at the national meeting on digital … [Read more...] about Digital transformation matters a lot to economic integration: Vietnamese PM

Head of the Party Central Committee’s Economic Commission Tran Tuan Anh chaired the meeting and Senior Lieutenant General Pham Hoai Nam, Deputy Minister of National Defense, attended the event. Speaking at the meeting, Chairman cum General Director of the Viettel Group Senior Colonel Tao Duc Thang briefed the delegation on Viettel production and business situation, especially difficulties and shortcomings that the group is facing. Meanwhile, Gen. Thang proposed new mechanisms and policies on high-tech development, digital transformation, and foreign investment, and then the project’s steering committee would implement effective and appropriate policies on modernization and industrialization in the time to come. For his part, Mr. Tran Tuan Anh spoke highly of the remarkable achievements gained by Viettel over the past years. According to him, Viettel is the first enterprise to work with the Central Steering Committee for developing the project. It has shown the important role of … [Read more...] about Central Economic Commission works with Viettel

Illustrative image (Photo: VNA) Hanoi (VNA) – The socio-economic impacts of the two-year-old EU-Vietnam Free Trade Agreement ( EVFTA ) along with issues that the deal poses for Vietnam were under focus at a scientific seminar held in Hanoi on August 4. Opening the event, Vice President of the Vietnam Academy of Social Sciences ( VASS ) Dang Xuan Thanh said despite the obvious benefits brought by the EVFTA, the optimization of incentives offered by the deal has not met expectations. He cited examples such as Vietnam’s exports still focus on some traditional markets, and the mechanism for linking localities with Vietnamese representative agencies abroad for trade and investment promotion remains incomplete. He hoped the seminar would identify outstanding problems in and draw lessons from the enforcement of the EVFTA over the past two years, and work out solutions to better utilize the deal in the following years. Regarding the impacts of the EVFTA on Vietnam’s … [Read more...] about Seminar seeks ways to optimize EU-Vietnam FTA

In the updated draft national master plan for the rest of the decade and with orientations to 2050 that was released last week, the section on the nation’s urban and rural network highlighted that Hanoi and Ho Chi Minh City are continuing to promote their effectiveness and spillover effects. It is hoped that they will develop dynamically and creatively in order to compete internationally. Vietnam’s planning orientation for the next few years aims to push development of satellite towns, Le Toan At last week’s conference on the national master plan held by the Ministry of Planning and Investment in Hanoi, Tran Hong Quang, director general of the ministry’s Vietnam Institute for Development Strategies (VIDS), revealed that the two biggest cities will focus on developing high-quality and high-value-added services in sci-tech, health, training, and IT, as well as restricting processing and manufacturing industries that use a lot of land and labour. “We should push the … [Read more...] about Modern slant found through key planning

At the conference In November 2020, leaders of the People’s Committees of seven localities signed an agreement on tourism development cooperation. The program will focus on state management of the tourism industry, the development of tourism human resources and tourist products, and tourism promotion. According to a report, seven cities and provinces received a total number of visitors of 17.7 million and earned VND63, 000 billion (US$2.7 billion) in tourism revenue in 2021. In the first six months of this year, the business outcome of tourism activities saw positive signs thanks to tourism reopening policies. The total number of tourists was estimated at around 32.9 million, including one million international visitors while the revenue from tourism was VND87, 900 (US$3.76 billion). Standing Vice Chairman of the People’s Committee of Quang Ngai Province, Tran Hoang Tuan speaks at the event. Speaking at the event, Standing Vice Chairman of the People’s Committee of … [Read more...] about North-Central-South tourism connectivity enhanced

With the theme A World Beyond Cash – Accelerating, Innovating, Connecting you to Priceless Possibilities , the forum has helped sketch the big picture of the current payment landscape, drawing the ways how Mastercard and its key partners join hands to increase the capability of payment and better serve the population in Vietnam. Vietnam is now among the fastest-growing economies in Asia-Pacific, experiencing the fourth payment revolution and showing great growth potential, thanks to a young population with a digital mindset. Despite the negative impacts brought by the pandemic, the Asian Development Bank forecasts that the country’s GDP will reach 6.5 per cent in 2022, increasing 2.5 times from 2021’s figure and reflecting the most impressive economic recovery across Southeast Asia. In 2021, apart from maintaining a positive GDP figure, Vietnam recorded a 13 per cent increase in credit growth and a 9 per cent increase in foreign investments, alongside the $21 billion valued … [Read more...] about Mastercard celebrated its Customer Forum 2022 for Vietnamese partners

Vietnamese Minister of Foreign Affairs Bui Thanh Son attended the 55th ASEAN Foreign Ministers’ Meeting (AMM-55) which opened in Phnom Penh, Cambodia, on August 3 morning. The opening ceremony of the 55th ASEAN Foreign Ministers’ Meeting. (Photo: VNA) Addressing the opening ceremony, Cambodian Prime Minister Samdech Techo Hun Sen recalled the Association of Southeast Asian Nations (ASEAN)’s 55-year history and its beyond-expected achievements, making Southeast Asia a region of cooperation, development and trust. He underscored the regional and global uncertainties caused by multidimensional impacts of COVID-19, tensions among major countries and crises in Myanmar and Ukraine. Non-traditional challenges, such as climate change, natural disasters, energy security and food security, have put ASEAN and the region at large through such an ordeal, according to the PM. More than ever, ASEAN needs to unite, promote its centrality, and strive to build a … [Read more...] about 55th ASEAN Foreign Ministers’ Meeting opens in Cambodia