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Vietnam exported 656 million USD worth of goods to the neighboring country in 2022, up over 10%, mainly oil and gas, fertilizers, steel, machinery and accessories, and means of transport. Meanwhile, Vietnam’s imports were valued at over one billion USD, a year-on-year rise of 35%, with main items including wood and wood products, fertilizers, rubber and corn. In December alone, the two-way trade stood at 211 million USD, up 60% from the previous year. According to the Vietnam Trade Office in Laos , the two countries’ industry and trade sectors coordinated in organizing a range of trade promotion activities during the year, contributing to the rise of bilateral trade./. VNA … [Read more...] about Vietnam-Laos trade records impressive growth in 2022

Illustrative image (Photo: VNA) Hanoi (VNA) – Vietnam’s GDP growth reaches 8.02% this year, a record high in the 2011-2022 period as the economy is recovering strongly, General Director of the General Statistics Office (GSO) Nguyen Thi Huong told a press conference in Hanoi on December 29. The agro-forestry-fishery sector expanded by 3.36%, contributing 5.11% to the total added value of the whole economy. The industry-construction sector grew by 7.78%, contributing 38.24% while the service industry rose by 9.99%, making a 56.55% contribution to the economy. About the economic structure 2022, the agro-forestry-fishery sector accounted for a proportion of 11.88%, industry and construction 38.26%, services 41.33% and product taxes, exclusive of product subsidies, 8.53%. With an annual growth of 7.18%, final consumption contributed to 49.32% of the general growth. Asset accumulation rose by 5.75%, contributing 22.59%, while trade in exports, imports and services adding … [Read more...] about Vietnam’s GDP expands by 8.02% in 2022

Young people follow the path of the older generations to contribute to the glorious history and heroic traditions of the Vietnamese People's Army and the Vietnamese Public Security forces. Thirty metropolitan and suburban districts in Hanoi today [February 6] held ceremonies to see off 3,500 young people who were called up for military duty. All newly-conscripted soldiers were required to go through a medical checkup. Major General Bui Trong Quynh, deputy commander of the Hanoi Capital High Command, said all the young men joining the army this year meet the health and educational requirements. Military service is compulsory for Vietnamese between the ages of 18 and 25 (expanded to 27 for those who apply for a deferment to pursue higher studies). Chairman of the Hanoi People’s Committee Tran Sy Thanh attends the farewell ceremony for young soldiers in Dong Anh District. Attending a ceremony in Dong Anh District, Chairman of the Hanoi People's Committee … [Read more...] about Hanoi youths take great pride for military service

Producing wooden furniture for export at Trieu Phu Loc Furniture Co., Ltd, Tan Uyen town, Binh Duong province (Photo: VNA) Hanoi (VNS/VNA) - Wooden furniture exports from Southeast Asian markets to Australia grew sharply in the past year, with Vietnam leading the way on 205.6 million USD, up 26.4% year-on-year. Vietnam is followed Malaysia with 101.9 million USD and Indonesia with 61.7 million USD. The proportion of wooden furniture imports from these three markets accounted for 22.9% of the total value of wooden furniture imports into Australia. The Import-Export Department, Ministry of Industry and Trade, quoted statistics from the General Department of Customs saying that the export value of wooden office furniture reached 28.4 million USD in December, a year-on-year decline of 28.6%. The export value of wooden office furniture reached 370.3 million USD last year, down 15.9% over the same period in 2021. In the structure of wooden furniture exports last year, … [Read more...] about Vietnam leads Southeast Asia in wooden furniture exports to Australia

The quake, which hit in the early darkness of a winter morning, was also felt in Cyprus and Lebanon. "We were shaken like a cradle. There were nine of us at home. Two sons of mine are still in the rubble, I'm waiting for them," said a woman with a broken arm and injuries to her face, speaking in an ambulance near the wreckage of a seven-storey block where she had lived in Diyarbakir in Turkey. "I have never felt anything like it in the 40 years I've lived," said Erdem, a resident of the Turkish city of Gaziantep, near the quake's epicentre, who declined to give his surname. "We were shaken at least three times very strongly." Turkish Vice President Fuat Oktay said 284 people were killed and 2,323 injured, as authorities scrambled rescue teams and supply aircraft for the affected area, while declaring a "level 4 alarm" that calls for international assistance. In Syria, already devastated by more than 11 years of civil war, a government health official said more than 237 people … [Read more...] about Major earthquake strikes Turkey, Syria; hundreds dead, many trapped

According to chairman of the Vietnam Real Estate Brokers Association Nguyen Van Dinh, Vietnam’s real estate market is not repeating the crisis cycle which occurred in 2012. Varying factors to determine the fate of real estate, photo baodautu.vn “Currently, urban development is high and infrastructure investment is taking place strongly, along with the rocketing increase demand for housing. So the demand for investment in real estate is rather high. These are the factors that create a great motivation for the market’s ability to recover,” Dinh told VIR. Banking and finance expert Can Van Luc added that the market will be revived by the end of the year. “When banks have new credit room, real estate will see more transactions from homebuyers. Real demand is expected to be a bright spot during the year,” Luc said at a forum on forecasting the real estate market organised by the Vietnam Real Estate Association in Hanoi on January 3. Do Thu Hang, senior director of … [Read more...] about Varying factors to determine the fate of real estate

A man was fatally hit by a truck after riding his motorbike on an expressway meant only for four-wheel vehicles in southern Vietnam. Preliminary information showed that the truck was traveling along the Ho Chi Minh City - Trung Luong Expressway at around 10:20 pm on Sunday. After reaching Thanh Duc Commune in Ben Luc District, Long An Province, the truck collided with a motorbike running in the opposite direction. The crash caused the motorcyclist to fall on the ground and die on the spot. Congestion followed the crash on the Ho Chi Minh City - Trung Luong Expressway, February 5, 2023. Photo: A.X. / Tuoi Tre A team of traffic police officers, in coordination with the expressway management unit, later arrived at the site to identify the victim, investigate the accident, and control the traffic. Stretching 62 kilometers, the Ho Chi Minh City - Trung Luong Expressway connects the southern metropolis with Tien Giang Province in the Mekong Delta. The minimum … [Read more...] about Man fatally hit by truck after riding motorbike on expressway in southern Vietnam

Customers at a Vietbank transaction office in HCM City. — Photo courtesy of the bank The Viet Nam Thuong Tin Commercial Joint Stock Bank has announced a VND7 billion (nearly US$297,000) promotion targeted at retail customers who have savings deposits, open payment accounts or buy insurance between February 2 and May 1 to mark its 16th founding anniversary. Those making savings deposits of VND25 million ($1,059) or more and meet certain other conditions will instantly get gifts including air fryers, electric grills, porcelain dish sets, bags, water bottles, and e-vouchers worth VND100,000 to VND1 million. Customers also have the chance to participate in a lucky spin on the Vietbank Digital app with thousands of cash prizes ranging from VND20,000 to VND2,222,222. They will then receive codes to participate in a lucky draw at the end of the programme that carries one special prize of a Honda City 1.5RS car, nine first prizes of Honda SH Mode scooters, 25 second prizes of 0.5 … [Read more...] about Vietbank unveils big anniversary promotion

Vietnam plans to welcome one million Korean arrivals this year. Jeju Air, South Korea’s biggest low-cost carrier, will resume services on the routes from Incheon to Hanoi and Ho Chi Minh City from April 20, after three years of suspension due to Covid-19, according to Yonhap. South Korean and Vietnamese enterprises attend the 2022 Vietnam Tourism - Culture F estival in Seoul last October. Photo: Toquoc Until late 2019, the budget carrier operated eight routes to five cities, including Danang, Hanoi, Ho Chi Minh City, Nha Trang, and Phu Quoc. Last June, the company restored the connection from Incheon to Danang and Nha Trang, and from Busan to Danang. Jeju Air aims to turn around this year after posting net losses for three consecutive years through 2021 as eased virus restrictions unleash pent-up travel demand. Vietnam expected to receive one million Korean arrivals this year, hoping to make a breakthrough in tourism cooperation in the near future, … [Read more...] about Jeju Air to resume service to Vietnam from April 20

Hai An Transport and Stevedoring Joint Stock Company's after-tax profits were up 90% from 2021 at VND1.050 trillion (US$44.49 million); Petrovietnam Transportation Corp's (PVTrans) was up 39% to VND1.16 trillion; and Vietnam Petroleum Transport's (Vipco) rose by 25 times to VND246 billion. Other logistics firms too reported excellent numbers. Gemadept’s after-tax profits surged by 60% to VND1.15 trillion, its second highest since 2000 when it first publicized financial statements. Vosco’s profits decreased by 0.4% to VND490 billion, but were still the second highest since it listed on the stock market. Vinalines said profits fell by 23% to VND2.5 trillion, but were still second only to 2021. According to data from Freightos, one of the world’s largest freight booking platforms, the cost of sending a container from Asia to the U.S. fell by more than 80% late last year. In the third quarter of 2021 it had been at a record $20,000 per 40-foot container. But thanks to the … [Read more...] about Big shipping firms report record profits