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According to the International Monetary Fund (IMF), Vietnam's GDP based on purchasing power parity (PPP) stood in 25 th position globally in 2022, ranking just below countries such as Australia, and Poland. Specifically, Australia's reached approximately $1.63 trillion, securing 20 th position worldwide, while Poland's stood at around $1.64 trillion, placing it 19 th . The IMF also estimates that by 2023, Vietnam is expected to secure fourth position in Southeast Asia with a forecast GDP PPP of approximately $1.45 trillion. Looking further ahead, by 2026, Vietnam is estimated to have surpassed Thailand, propelling it to the second spot in the region with a figure of around $1.87 trillion. By 2028, Vietnam's economy is anticipated to have reached approximately $2.21 trillion, placing it among the top 20 economies globally. The top 20 economies in 2028, according to the IMF, are predicted to include China, the United States, India, Japan, Germany, Indonesia, Russia, … [Read more...] about Vietnam projected to become 20th largest global economy

At the meeting, delegates, children, and students offered incense in commemoration of President Ho Chi Minh and visited Ho Chi Minh City culture space at the headquarters of the city’s association of farmers. They were also entertained with special artistic performances by children from Phu Nhuan district’s culture center, watched a video of the association’s implementation of scholarship and sponsorship programs, and talked about students’ aspiration. Annually, Ho Chi Minh City’s Association of Farmers works with the Ho Chi Minh City Television to organize a New Year program to call on units, organizations, businesses, individuals, and benefactors to facilitate its social security activities. Notably, together with maintaining a scholarship program for students whose parents are the association’s poor and near-poor members, it has launched a sponsorship project for those whose parents or caregivers died due to the COVID-19 pandemic. The program has been carried out since 2021. In … [Read more...] about Meeting to present scholarships and sponsorship to students and orphans

The Le Monde daily said along with the main cast, Hung has made a mark with a highly artistic film about cuisine and the art of living. The film not only portrays a love story in the end of the 19th century but also celebrates the art of fine dining in the French style. Meanwhile, the Le Figaro daily compared the portrayal of the characters in Hung's "La Passion de Dodin Bouffant" to the performance of Catherine Deneuve in the iconic French film "Peau d'âne" or the outstanding performance of Stéphane Audran in the film "Festin de Babette" which won the Academy Award for Best Foreign Language Film in 1988. Recalling Hung's success with the film "The Scent of Green Papaya" (L'Odeur de la papaye verte), which earned him the Golden Camera award in 1993, the article's author believed that "La passion de Dodin Bouffant" will surely satisfy food enthusiasts, who are abundant in France. Born in 1962 in the central city of Da Nang, Hung has affirmed his reputation in European and … [Read more...] about French newspapers praise Vietnamese – French filmmakers

Ninh Thuan to set off firework s to welcome grape – wine festival (Photo: VNA) Ninh Thuan (VNA) – The south central province of Ninh Thuan will hold a 15- minute firework display to welcome the Grape - Wine Festival 2023 and the ceremony to receive a certificate from UNESCO recognising the pottery-making art of the Cham ethnic minority people as Intangible Cultural Heritage in Need of Urgent Safeguarding. Vice Chairman of the provincial People's Committee Nguyen Long Bien said that the festival, running from June 13-18, are an important and meaningful event for Ninh Thuan to attract more tourists, thereby turning tourism into a spearhead economic sector with sustainable development in the coming years. Themed “Ninh Thuan – The land of convergence of different values”, spectators will have a chance to enjoy a low-range firework display in the opening night of the festival which is slated for June 16, 2023 at April 16 Square. According to Nguyen Van Hoa, Director … [Read more...] about Ninh Thuan to set off fireworks to welcome grape – wine festival

It is the VUFO’s most noble distinction honoring Park's significant contribution to the Vietnamese football and the friendly and cooperative relations between the people of Vietnam and the Republic of Korea (RoK). Speaking at the event, Nguyen Phuong Nga said the bilateral ties have become a successful model based on political trust, vibrant economic cooperation, and a close attachment in people-to-people exchanges. She attributed that to the important contribution of people’s organizations and individuals from both countries, including Park. As the head coach of the Vietnamese national football team from 2017 to 2022, Park trained and improved the talent of players, helping them gain confidence and bring glory to Vietnam at regional and international tournaments, including winning the 2018 AFF Cup championship, two gold medals in men's football at the 30th SEA Games in 2019 and the 31st SEA Games in 2021, becoming the second runner-up at the 2018 U23 Asian Cup, securing the fourth … [Read more...] about Coach Park Hang-seo awarded VUFO’s friendship insignia

The medal of VnExpress Marathon Sparkling Quy Nhon 2023. Photo courtesy of VM The 4th season medal of VnExpress Marathon Quy Nhon has square shape. In the middle, the image of King Quang Trung riding a horse and raising a sword symbolizes the unyielding spirit of the martial arts land of Binh Dinh. This year's medal uses the golden color representing beautiful sand beaches stretching along the coast of Quy Nhon, the capital town of Binh Dinh Province. The main shape of the design carries the architectural lines on ancient Cham tower. The tower peeking behind the statue of King Quang Trung on the medal is the Binh Lam tower, which was built around the 10th-11th centuries as one of the first Cham towers in Binh Dinh. "Sparkling Quy Nhon" text block appears on the medal in orange and red, the typical colors of VnExpress Marathon. The back of the medal has the word "Finisher" and the image of Hoang Hau beach with crashing waves. "When creating this year's medal, we aim to … [Read more...] about VnExpress Marathon Sparkling Quy Nhon 2023 reveals medal

Apple on May 17 announced the expansion of the Apple Store online into Vietnam. Customers throughout the country can now shop direct with Apple and receive a service delivered by dedicated team members ready to share their expertise in Vietnamese. Meanwhile, in mid-May, eDiGi, Vietnam’s foremost premium Apple retailer, announced the closure of its store after five years. The store entered the market when official Apple products were struggling to compete against smuggled counterparts. Backed by one of Vietnam’s top retail companies, IPP Group, eDiGi aimed to carve a niche for itself in Ho Chi Minh City’s District 1, Ho Chi Minh City. The accolades poured in as eDiGi secured the coveted Apple Premium Reseller and Apple Service Provider certifications, becoming the country’s pioneering haven for Apple aficionados seeking unrivalled services. However, eDiGi found itself grappling with a market where affordable prices outweighed immersive shopping experiences, and it struggled to … [Read more...] about Apple retailers set for price competition shake-up

The National Assembly (NA) will discuss the VAT reduction from the existing 10 per cent rate to 8 per cent on June 1 before receiving an approval from NA deputies in a resolution slated for June 24, the last day of the ongoing fifth session. The VAT cut proposed by the government is set to be applied from July 1 to the end of 2023 for all types of goods and services currently subject to a 10 per cent VAT rate. The initiative is part of Resolution No.43/2022/QH15 released early last year on fiscal and monetary policies supporting the Programme on Socioeconomic Recovery and Development. Consumers of many types can benefit from VAT cuts, photo Le Toan Under Resolution 43, the 2 per cent cut was applied last year for goods and services subject to a 10 per cent rate, except for various goods and services such as telecommunications, IT, financial and banking activities, securities and insurance, trading of real estate, metal and precast metal products, mining products … [Read more...] about Support to continue in form of VAT cut

Vietnam’s services sector remains a bright spot, partially offsetting some external weakness, according to a report released by HSBC Vietnam on May 31. Illustrative image (Source: VNA) The report, themed “Vietnam May data: Still a long way to go,” said while Vietnam’s May trade data points to no further deterioration, there is still a long way to see a meaningful rebound in its trade cycle. Exports slightly fall According to the report, exports fell 5.8% year on year in May, a slower pace than the market expected, but with lingering broad-based weakness. None of the major categories, including electronics, machinery, textiles/footwear and wooden furniture showed signs of a meaningful rebound. Data as of April 2023 suggests substantial falling shipments in Vietnam’s three largest exporting destinations - US, China and the EU. In particular, with a hefty share of 30%, Vietnam is particularly sensitive to a US economic slowdown. Despite exports falling by … [Read more...] about Vietnam’s services sector remains a bright spot: HSBC

Vietnam’s long-awaited Power Development Plan VIII (PDP8), confirmed in mid-May, is a milestone in the country’s journey towards energy transition. The main objective of the legislation is to achieve energy security for Vietnam, progressing on its climate change commitments towards the middle of this century, and more specifically to export 5,000-10,000MW of power by 2030. Towards these goals, the PDP8 proposes a new energy mix with a substantial reliance on renewables and the development of smart transmission grids to support the renewables industry, including connecting the power grids with neighbouring countries. “We appreciate the government for the approval of the PDP8, as it provides a clear path to the completion of the grid interconnection, which is critical for us and Electricity of Vietnam (EVN) to complete agreement on the tariff and schedule of the power purchase agreement (PPA). We target completion of the PPA in Q4 of 2023 in order to break ground in 2024,” said Ian … [Read more...] about Power overhaul plan picks up steam