Handicraft product that has geographical indication tag

The Vietnamese booths, featuring interior and exterior wooden and home décor products, handicrafts, hotel furniture, and lighting equipment, attracted many U.K. wholesalers and retailers, as well as visitors. Vietnamese Trade Counselor in the U.K. Nguyen Canh Cuong said the exhibition has offered a good opportunity for Vietnamese firms to introduce high quality products and meet potential importers and distributors. As the third largest furniture producer and exporter in the world, and the largest in Southeast Asia, Vietnam boasts products meeting requirements of the U.K. market, he said, stressing that Vietnam needs to actively attend fairs like JFS in order to seek and set up partnerships with British businesses. Zoe Bonser, Retail Manager of NEC, said that with more than 15,000 visitors, JFS gives a great chance to businesses, and those from Vietnam in particular, to gain easier access to the U.K. market. In 2022, Vietnam earned 239.66 million USD from exporting wood and … [Read more...] about Vietnamese furniture products introduced at U.K. exhibition

Japan's government will drop its recommendation to wear masks indoors and downgrade its medical classification for Covid-19, Prime Minister Fumio Kishida said Friday. Japanese Prime Minister Fumio Kishida removes his face mask before his speech during a plenary session of the upper house of parliament in Tokyo on January 27, 2023. (Photo by Kazuhiro NOGI / AFP) The changes, effective from early May, will classify the disease on the same level as the flu, down from its current status on par with tuberculosis and SARS. "As for masking, regardless of indoors and outdoors, the decision will be left up to individuals," Kishida told a televised government meeting. "We will take further steps towards 'life with corona' and make steady progress on returning to normality in homes, schools, workplaces, neighbourhoods and all facets of life." Masks are ubiquitous in public places and are commonly worn outdoors as well, despite the government having already said they … [Read more...] about Japan to drop mask guidance, relax Covid strategy

According to the Ministry of Industry and Trade (MoIT), the scale of the Vietnamese retail market is USD 142 billion, which is expected to reach USD 350 billion in 2025, with contribution of 59% to total GDP. Last year, the total revenue from retail sales of goods and services rose 21%, exceeding the target of 8%. A survey by Vietnam Report showed that over 53.8% of total retail firms enjoyed similar and higher business results compared to the pre-pandemic level. Experts held that growth of retail sales is being supported by rise in income and the strong recovery of the tourism sector as well as relevant sectors such as transport and accommodations, as well as the effectiveness of inflation control measures. Particularly, from now to the lunar New Year (Tet) Festival, which falls in late January, consumers are predicted to loosen their wallet dramatically. At the same time, there are signs of vibrant retail activities as many foreign investors have announced their plans to … [Read more...] about Retail market forecast to bustle this year

Between VND150-200 trillion ($6.4-8.5 billion) in bonds are set to mature this year, and if the bond market is left to self-regulate, systemic risks could spread to the banking sector and the entire financial market, Cuong told VnExpress in an interview. Although Vietnam concluded 2022 with a strong post-pandemic recovery, several financial problems plagued the economy last year, among them bond market issues . As there were many high-profile arrests due to alleged misconduct in bond issuance, companies prematurely redeemed VND210.57 trillion worth of their own bonds last year, up 46% from 2021. Although the market could be left to fix its own problems, Cuong said that it is recommended that the government intervenes with policies to ensure post-pandemic recovery, as one problem in the market could shake the market in a major way this year. He added that in the 2008 financial crisis, the U.S. government initially let the market corrects itself, but after Lehman Brothers … [Read more...] about Vietnam government should intervene in bond market: ADB economist

Illustrative image (Photo: vietnamnet) Hanoi (VNA) – The bustling game market in Vietnam is offering numerous opportunities for developers, according to experts. Le Quang Tu Do, Director of the Authority of Broadcasting , Television and Electronic Information under the Ministry of Information and Communications (MIC), cited data from App Annie 2020 showing that Vietnam ranked seventh in the world and second in Southeast Asia in the number of game downloads. Meanwhile, the country also ranked third in the top 10 game application manufacturers in the region. For every 25 games downloaded, there is one produced in Vietnamese studios. According to the statistics of Sensor Tower and the Vietnam Game Studio Club, there are currently about 5,000 games produced by Vietnamese people, mostly for children, entertainment, and education. Do said that the wage of each game developer in Vietnam is about 187 million VND (7,975 USD) per year, while that of each artist is abour 389 million … [Read more...] about Local game developers eye great opportunities at home

The sector should continue to follow policies and guidelines adopted by the Party and the State, while closely coordinating with ministries, agencies and localities to fulfill socio-economic tasks, he said. Priorities should be given to maintaining the macro-economic stability, controlling inflation, spurring growth and ensuring major economic balances, the leader continued. Prime Minister Pham Minh Chinh asked the State Bank of Vietnam (SBV) to improve its analyzing and forecasting capacity, provide timely consultancy and flexibly respond to developments of the domestic and international situation. The central bank was also urged to intensify inspection and supervision, ensure transparency, promote digital transformation, raise service quality, and support innovations and small- and medium-sized enterprises. It needs to further consolidate monetary institutions, mechanisms and policies to create a concerted legal corridor, thus giving a push to the monetary and credit markets, … [Read more...] about Prime Minister urges banking sector to make more innovations

Illustrative image (Photo: Newstraitstimes) Kuala Lumpur (VNA) - The Communications and Digital Ministry of Malaysia plans to announce the introduction and implementation of 5G by Digital Nasional Bhd (DNB) with added features at the end of March. Minister Fahmi Fadzil said DNB is currently studying and evaluating the available options to ensure the coverage will not just reach 80% but will be expanded nationwide. Fahmi said the implementation of the 5G will enable companies and factories to achieve efficient and fast communication services in order to increase productivity and provide the public with efficient services. Meanwhile, referring to issues of personal security and online scams, the ministry aspires to turn the Personal Data Protection Department into a statutory department to carry out its functions more efficiently, said the minister. The agency under the ministry will become one of the most important departments to be strengthened to deal with … [Read more...] about Malaysia to implement 5G technology by end of March

Total revenue from tourism activities topped 1 trillion VND (42.6 million USD), the department said. The number of tourists increased dramatically at key monuments, museums, parks, ecological zones, and resorts in the city. Notably, Van Mieu (Temple of Literature) - Quoc Tu Giam (First University in Vietnam) and the Huong pagoda received about 80,000 visitors each. Meanwhile, the Thang Long Imperial Citadel, the Special National Relic of Co Loa, Duong Lam ancient village – the Son Tay ancient citadel received 19,700; 18,000 and 15,000 visitors, respectively. During the holiday, a series of art performances and cultural programs were held at relic sites and tourist attractions, while many new tourism products introduced to attract visitors. According to Director of the municipal Department of Tourism Dang Huong Giang, the agency has paid special attention to inspect the observance of regulations on tourism in tourist areas, aiming to better the quality of services. Source: … [Read more...] about Hanoi welcomes 332,000 visitors during lunar New Year holidays

On the occasion, Dien Bien Dong district (Dien Bien province) held a series of programs from January 23 to January 26. With many cultural activities such as sports exchange and folk games, the programs attracted the participation of many visitors and local people. In the framework of the programs, together with cultural space, tourists also joined trading activities of the locals, such as selling traditional costumes, food, jewelry. This was one of the series of this year’s spring festival activities in Dien Bien Dong district with beautiful traditional cultural identities. It was also an occasion for local people to introduce their products, while encouraging trade activities, contributing to promoting local socio-economic development, in line with preserving and promoting local traditional customs. Translated by Minh Anh … [Read more...] about Spring Festival in Dien Bien province

NA Chairman Vuong Dinh Hue pays Tet visit to NA newspaper and TV channel. (Photo: VNA) Hanoi (VNA) – National Assembly (NA) Chairman Vuong Dinh Hue visited the Dai bieu nhan dan (People’s Deputies) newspaper and the television channel of the NA on January 25 or the fourth day of the Lunar New Year. The chief legislator hailed achievements reaped by the newspaper and the TV channel in 2022, asking their Party Committees and leaders to work harder to create a healthy working environment and ensure policies towards labourers. The two agencies have made reforms and improved the quality and content of their information products, and utilised digital platforms during their operations, he said. The leader stressed that the NA as well as its Standing Committee and press agencies should continue with innovations, and that the development of the two agencies would contribute to successes of the legislature and the nation at large. Editor-in-Chief of the People's … [Read more...] about Top legislator pays Tet visit to NA newspaper, TV channel