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According to its latest report on Southeast Asia, HSBC said Thailand will benefit the most from China’s reopening. It said further that tourism in Vietnam was also expected to perform well as Chinese tourists account for some 30% of international arrivals to the country. This month Khanh Hoa Province is expected to have nine charter flights which will bring Chinese visitors to Vietnam after a 3-year suspension due to the pandemic. Hotels in Hoi An, in the central province of Quang Nam, have also received bookings from Chinese tourists. Regarding trade, since 2020 ASEAN has surpassed the E.U. to become China’s largest trading partner. Last year Vietnam was one of three Southeast Asian countries, along with Indonesia and Malaysia, reporting increases in exports to China. Vietnam is also benefiting from more favorable trade ties with China because exports no longer have to undergo strict Covid testing. Concerning FDI, Japan and South Korea are the leading countries in terms of … [Read more...] about Vietnam’s tourism, trade, FDI rosy amid China’s reopening: HSBC

A showroom displays and sells products under the country’s One Commune-One Product (OCOP) programme and other products in the Cuu Long (Mekong) Delta province of Tra Vinh. (Photo: VNA) HCM City (VNS/VNA) - The Cuu Long (Mekong) Delta’s 12 provinces and the city of Can Tho are developing more products under the country’s “One Commune-One Product” programme. Launched in 2018, the OCOP programme focuses on developing specialty products and high-quality products in rural areas to increase incomes for locals and boost the sustainability of economic development in rural areas. OCOP products are commercial products and services such as food and beverages, handicrafts and rural tourism services. They are classified as having one to five stars. Under the programme, the Cuu Long delta, which is the country’s largest rice, seafood and fruit producer, has developed more OCOP products and increased their value. Can Tho recognised 18 new OCOP products last year, including 10 three-star … [Read more...] about Mekong Delta develops more OCOP products

Foreign investors poured nearly US$1.7 billion into Vietnam as of January 20. In the first month of 2023, newly-registered capital is estimated to have increased 3.1 times over the same period last year, showing that foreign investors still maintain confidence in Vietnam's investment environment. Hanoi ranks among the top localities in foreign direct investment (FDI) in 2022. Photo: Thang Long Industrial Park The Foreign Investment Agency under the Ministry of Planning and Investment reported that there were 801 newly-registered projects totaling $1.2 billion and 89 projects increasing capital with a combined amount of $306.3 million. In addition, 204 transactions of share purchases by foreign investors were worth $174 million, representing a year-on-year decline of 60.7%. Meanwhile, the disbursement of foreign investments dropped by 16.3% to $1.35 billion. The agency attributed the decrease in registered and disbursed FDI to the national holiday (the … [Read more...] about Foreign investors remain confident about Vietnam’s business environment

In an interview granted to the Vietnam News Agency, the official noted that Vietnam has focused on including the cultural content into the activities of high-ranking leaders during their overseas trips and the country’s reception of foreign leaders; and on promoting deep and wide integration in the fields of culture, science and education at international forums. According to him, Vietnam hosted significant regional and international conferences and events last year, including the 31st SEA Games and the Vietnam day program in the Republic of Korea, Austria and India. The country was elected to the Intergovernmental Committee of the UNESCO Convention for the Safeguarding of Intangible Cultural Heritage for the 2022-2026 term with the highest number of votes. The first official visit to Vietnam by UNESCO Director-General Audrey Azoulay was a highlight, putting the country, its culture and people on the radar of international media, Ngoc said. The guest said she was impressed by … [Read more...] about Cultural diplomacy raises Vietnam’s position worldwide

Employees of HCM City Securities Corporation (HSC). The market's uptrend in the near future may slow down and the risk of correction is increasing. — Photo HSC The market's uptrend in the near future may slow down and the risk of correction is increasing, brokerages have said. The market's gaining momentum lingered in the first session of the Year of the Cat, said Viet Dragon Securities Co. However, the uptrend somewhat slowed down before the profit-taking supply, as shown by the Shooting Star candle. On the Ho Chi Minh Stock Exchange, the VN-Index gained 0.81 per cent, to close Friday at 1,117.10 points. On the Ha Noi Stock Exchange, the HNX-Index rose 0.40 per cent to close Friday at 220.76 points. “Market still remained in green at the end of the session, showing that the pressure of supply is not great. It is expected that the market will temporarily step back in the next session to find a balance after the recent rise,” said Viet Dragon Securities Co. “Therefore, … [Read more...] about Market’s uptrend may slow down in the near future