Infrastructural

Malaysian Foreign Minister Saifuddin Abdullah (Photo: VNA) Kuala Lumpur (VNA) - Malaysia and Thailand have agreed to step up the development of infrastructure along their shared border in an effort to boost trade and achieve the bilateral trade target of 30 billion USD by 2025. Malaysian Foreign Minister Saifuddin Abdullah said the two countries also hope to speed up the construction of a road connecting the integrated customs, immigration and quarantine complexes of Bukit Kayu Hitam and Sadao, which are very important to improving road and trade links on the Malaysia - Thailand border . The two countries also held discussions on the construction of the Rantau Panjang-Sungai Golok friendship bridge and the Pengkalan Kubor-Tak Bai bridge, which is still in the process of area assessment and topographic survey, he noted. The Malaysian FM paid a working visit to Thailand on August 9 - 10, during which he attended the 14th meeting of the Joint Commission for Bilateral … [Read more...] about Malaysia, Thailand committed to developing border infrastructure

The capital city is committed to accompanying the business community in promoting industrial products using advanced and environmentally friendly technologies with high-added value. Hanoi is pushing for the development of industrial infrastructure and key industrial products, seen as the driving force for the capital city’s sustainable economic growth. Thang Long Industrial Park in Dong Anh District, Hanoi. File photo During the first six months of 2022, the municipal Department of Industry and Trade started the construction of six industrial parks and is working on accelerating 38 other projects in the city. For the 2021-2025 period, Hanoi aims for supporting industries to make up 30% of the total value of industrial production, an increase of 5% from the current level; raise the value of key industrial products to 40-45% of total industrial production, and expects 10% of businesses in Hanoi to stay among Vietnam’s top 500 companies. To realize this goal, … [Read more...] about Hanoi promotes industrial infrastructure development for sustainable growth

A letter signed by Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan asks provinces and cities to review, amend, supplement and improve their industry promotion regulations, prepare local industry promotion programs for 2023 to 2025, develop technical and economic standards for industry promotion activities, create favorable conditions for local departments of industry and trade to help local people’s committees perform state management of industry promotion, and strengthen the inspection, supervision and evaluation of industry promotion activities. Helping rural industrial establishments recover and develop production and trading in the post-COVID-19 period is a task of departments of industry and trade According to the official letter, departments of industry and trade must ensure efficient, on-time implementation of their 2022 national and local industry promotion plans, help rural industrial establishments recover and develop production and trading in the … [Read more...] about Ministry facilitates rural industrial development

Foreign tourists visit the Independence Palace in HCM City on August 8. (Photo: VNA) HCM City (VNS/VNA) - Strict visa policies and a shortage of human resources and infrastructure in the tourism sector have stymied recovery of the travel industry, and the target of five million international arrivals this year could be out of reach, industry players have warned. Domestic travel has seen a strong rebound whereas international tourism, with a target of five million arrivals this year, remains in a slump, said Vu The Binh, Chairman of the Vietnam Tourism Association. Domestic visitor numbers topped 71.1 million in just the first seven months of this year against a full-year target of 60 million, he said. In the same period there were only 733,000 international visitors, or 8% of pre-pandemic numbers, he told a two-day programme titled ‘Lien Ket Suc Manh Du Lich Vietnam Nam 2022’ (Power of Vietnam Tourism Linkages) that ended in Ho Chi Minh City on August 9. Though … [Read more...] about Vietnam mulls ways to boost inbound travel

Tourists in Ho Chi Minh City (Photo: VNA) Hanoi (VNA) – The Vietnamese Ministry of Foreign Affairs has been working with domestic ministries, agencies and foreign partners to facilitate travel of Vietnamese and foreign citizens, said Spokeswoman Le Thi Thu Hang . At the ministry’s regular press conference in Hanoi on August 11, Hang said amid the complicated and uncertain developments of the COVID-19 pandemic with new, more virulent and transmissible variants as well as the emergence of new epidemics like monkeypox, several countries are yet to open their doors and continue limiting travel, some of which are major tourism markets of Vietnam. As the global economy continues to struggle from the pandemic, international tourism has not yet fully recovered, and Vietnam is not an exception. Following the Prime Minister’s directions to accelerate the tourism recovery in the new situation, Hang said Vietnam has promoted the mutual recognition of 'vaccine passports' and the … [Read more...] about Vietnam facilitates travel of Vietnamese, foreign citizens

Prime Minister Pham Minh Chinh speaks at the conference (Photo: VNA) Hanoi (VNA) - Prime Minister Pham Minh Chinh urged the business community and associations to take specific solutions and join hands with ministries, sectors and localities to remove difficulties, towards promoting economic recovery and sustainable development. Chairing at a Government to Business (G2B) conference on August 11, PM Chinh said thanks to tireless efforts over the last two years, Vietnam has managed to contain the COVID-19 pandemic, with stable macro-economy, inflation under control and positive economic growth . He asked for more efforts to improve the business and investment environment and accelerate the reform of administrative procedure s; build industry strategy and planning; and develop socio-economic infrastructure, towards creating favourable for businesses to build long-term and sustainable business, production and investment orientations. Participants at the meeting … [Read more...] about PM asks for greater efforts to promote sustainable recovery

During the meeting, Mai expressed the belief that the opening of the Belarusian Consulate General in HCM City will contribute to fostering cooperation between the two countries and their localities, affirming that the municipal authority will create favourable conditions for the mission's operation. He suggested the two countries strengthen cooperation in terms of trade, investment, culture, education and tourism, which he said will be a foundation for further developing the Vietnam – Belarus relations in general and between HCM City and Belarusian localities in particular. Regarding the Belarusian Prime Minister's visit to Vietnam slated for late this year, Mai said HCM City will be honoured to welcome the Belarusian leader. Regarding the cooperative relationship between HCM City and Minsk city of Belarus, the official proposed that the two sides select specific items to carry out in the framework of the cooperation programme between the two localities in the 2020-2025 period. … [Read more...] about HCM City looks to boost ties with Belarus

Illustrative image (Source: VNA) HCM City (VNS/VNA) - As tourism continues to revive, the hotel and tourism industry is suffering from challenges in recruiting qualified human resources post pandemic, industry players warned. Speaking at a seminar on August 9 in HCM City, Dr Nguyen Anh Tuan, director of the Institute for Tourism Development Research, said there was a lack of high-quality staff in the industry. Vu The Binh, chairman of the Vietnam Tourism Association , said that human resources were a weak point for the industry even before the pandemic. “Efficient, hard-working, and resourceful human resources are the backbone of any successful business. It is even more so in the case of the hotel industry.” Successful hotel operations are sustained by customer-oriented and hard-working employees who have adequate competencies, he added. A large number of hotels and resorts stopped operation during the two-year pandemic, and coming back could prove challenging, he … [Read more...] about High-quality human resources key to sustainable tourism industry

Great opportunities Vietnam has climbed up the value chain over the years, becoming a key electronics manufacturing hub, attracting stable foreign direct investment with its sound macro fundamentals, preferential tax incentives and an abundance of relatively cheap and productive labor. Electronics, a major driving force of Vietnam’s export growth Vietnamese enterprises are increasingly integrating into the global production chain, as confirmed by international organizations, including the World Bank and the Hongkong and Shanghai Banking Corporation Limited (HSBC) in their reports. For decades an apparel and footwear exporter with a low value added, Vietnam has gradually become an important production center in the technology industry, according to HSBC. Ngo Dang Khoa, HSBC Vietnam’s Country Head of Markets and Securities, said Vietnam has become a production center of electronics and cell phone components, helping it lure an increasing number of foreign … [Read more...] about Vietnam’s star rises in global supply chains

In February, Vietnamese State President Nguyen Xuan Phuc paid a state visit to Singapore, with both nations vowing to continue cementing economic ties. How has this cooperation been implemented so far? Singaporean Ambassador to Vietnam Jaya Ratnam Singapore and Vietnam’s strong economic, trade, and investment ties are underpinned by decades of consistent and meaningful engagement between our governments and peoples. During President Nguyen Xuan Phuc’s state visit to Singapore earlier this year, he and President Halimah Yacob reaffirmed these ties and committed to further collaboration. Our leaders also oversaw the signing of an MoU on economic and trade cooperation between our two countries. We are starting from a very strong base. Singapore has been the leading source of foreign direct investment into Vietnam for the past two years. Singapore is now Vietnam’s second largest foreign investor, with total registered capital of nearly $70 billion. This demonstrates the … [Read more...] about Singapore and Vietnam commit to further strong collaborations