Is issued locally by a domestic borrower usually denominated in the local currency

Visitors take a boat tour at Gao Giong eco-tourism site in Cao Lanh district, Dong Thap province. (Photo: dulich.dongthap.gov.vn) Hanoi (VNA) - In recent years, many provinces and cities throughout the country have bolstered the development of rural tourism in a bid to promote their natural landscapes, people, traditional crafts and products to visitors. Rural tourism is considered as the key to facilitating economic development and fostering the building of new-style rural areas. Locals and authorities join hands to develop tourism In 2016, agricultural tourism in Dong Thap began to thrive, making the Mekong Delta province an ideal destination for domestic and foreign tourists. Currently, Sa Dec city, and Thap Muoi and Cao Lanh districts in Dong Thap province have taken advantage of their natural conditions, such as rivers, rice fields, lotus fields, and mango gardens, to build new tourism products. Tu Mach's mango garden in Cao Lanh district welcomes hundreds of … [Read more...] about Localities work to foster sustainable development of rural tourism

In Vietnam, local businesses cannot mortgage land use rights (LUR) as security to a foreign lender. But this is allowed in our peer markets, and it is carried out with robust regulation, proper dignity, and thoughtful national protections. So, why are we behind the pack? Darryl Dong-Principal country officer IFC Vietnam Vietnam’s restriction on land security for foreign lenders reduces available funding and increases borrowing costs to local companies. Basically, we are penalising the country and making it less competitive. It also makes it more difficult for the government to supervise foreign financing, since the parties simply find workarounds through complex structures to create security packages for loans because they cannot get on the ground security. In Vietnam, where the non-performing loan (NPL) market is still not developed, this mortgage restriction is a showstopper for foreign NPL investors who want to bring us their capital and expertise. We need to put … [Read more...] about Mobilising international finance for land security

A wood processing plant in Binh Duong. The wood processing industry is making efforts to regain growth momentum. — VNA/VNS Photo Vu Sinh Faced with a slump in export orders, woodworking firms have been striving to stay afloat in various ways. Do Thi Kim Loan, general director of Sao Nam Trading and Production Co., Ltd, which makes wooden flooring, said the company’s export orders are down 35-40 per cent year-on-year this year as orders from the US market, its major export market, drop sharply. “With exports to the US plunging, we seek to export to Canada and accept outsourcing orders from Australian customers. “Australian wood flooring importers ship materials to my company, we carry out the final processing stages, pack and re-export them. “This is an adaptation to partially offset the decline in our major market.” Binh Duong-based furniture company Bao Hung has also seen a sharp drop in orders from the US, its key market, this year. Phung Quoc Cuong, its marketing … [Read more...] about Wood industry strives to regain growth momentum

Advances in technology may be the key to solving the problems faced by local taxi companies. Hanoi-based taxi companies are seeking permission from the Government and the Hanoi authorities to allow the import and use of electric cars. G7 taxis stop at a local park in Hanoi. Photo: Tuan Anh/The Hanoi Times The electric car helps reduce environmental pollution by consuming clean energy, which is now the global vibe, said chairman of the Hanoi Taxi Association Nguyen Cong Hung. The Covid-19 pandemic, the growth of ride-hailing technology applications, and rising fuel prices are some of the factors impacting traditional cab firms, Hung said at a meeting on March 21. "Several taxi companies are being dissolved and their assets sold because they are operating at a loss," Hung said. "Domestic cab companies need a new form of business operation to adapt to the global development of technology and transportation," he added. "Modern technologies, especially … [Read more...] about Hanoi’s taxi companies seek permission to operate electric cars

The charming capital of Vietnam has won the hearts of many foreign tourists for its rich culture, beautiful east-meets-west buildings, and wonderful street food. According to Thetravel.com , there are more places in Vietnam than its capital Hanoi that tourists should explore. A corner in Hanoi's Old Quarter Area. Photo: Huy Pham In a recently published travel article on Vietnam, the Canadian newspaper has suggested 10 most beautiful cities and towns throughout Vietnam that will satisfy any visitor's travel needs, from cultural exploration to natural beauty discovery to luxurious beach vacations. According to Bryan Reyes, staff writer for The Travel, it's no surprise that Hanoi, as the capital, is one of the most visited cities in Vietnam, along with Ho Chi Minh City and Ha Long Bay, a UNESCO World Heritage Site. "Dubbed the 'Paris of the East', Hanoi is a sightseer's paradise for its landmarks with French influences mixed with Vietnamese motifs. This … [Read more...] about Hanoi named among Vietnam’s most beautiful places

The Vietnam General Confederation of Labour (VGCL) has once again proposed that the government makes changes to Decision No.655/QD-TTg on housing in trade union institutions in industrial parks (IPs) and economic zones. The VGCL wants to have a harmonious cooperation mechanism between the VGCL, the people’s committee of localities and investors to build housing projects in trade union institutions in IPs. Around half of Vietnam’s provinces have sites that can be used for trade union institutional housing, photo Le Toan Le Van Nghia, head of the VGCL’s Project Management Board, noted that the 2017 decision approved projects to build trade union institutes in IPs. A trade union institution comprises a housing complex with cultural amenities, sports, kindergarten, and other aspects. Nghia said that the confederation deployed the first such institute in the northern province of Ha Nam, but after finishing the first phase in 2019, it had to stop and adjust the entire … [Read more...] about Foreign-invested enterprises bemoan housing legal overlaps

At the meeting between Prime Minister Pham Minh Chinh and his Italian counterpart Giorgia Meloni in Brussels on December 14, 2022 on the occasion of the ASEAN-EU Commemoration Summit (Photo: VNA) Rome (VNA) – Despite ups and downs in the world situation over the past 50 years, the relationship between Vietnam and Italy has still developed positively and comprehensively with in-depth cooperation in all fields, both bilaterally and multilaterally, especially after they lifted their ties to a strategic partnership 10 years ago, according to Vietnamese Ambassador to Italy Duong Hai Hung. In an interview granted to the Vietnam News Agency on the occasion of the 50th anniversary of the Vietnam-Italy diplomatic relations, the diplomat said that Italy is an important partner and a loyal friend of Vietnam. In all meetings, leaders of Italy affirmed the country’s great attention and determination to promote the all-round bilateral relations, considering Vietnam as a priority for … [Read more...] about Ambassador highlights progresses of Vietnam-Italy relations over 50 years

Vietnam's Ministry of Transport has issued a decision to temporarily shut Dien Bien Airport in the namesake northern upland province for eight months for an upgrade and expansion, starting from mid-April. The airport, located in Thanh Truong Ward in Dien Bien Phu City, will be closed from April 15 to December 17 this year. The current Dien Bien Airport was restored from Muong Thanh Airport, which was constructed by the French. The airport has a runway which is 1,830 meters in length and 30 meters in width, three aprons, and a passenger terminal that was built in 2004 and has an annual capacity of 300,000 passengers. Due to the short runway and simple landing systems, Dien Bien Airport only serves ATR 72 turboprops and Embraer 190 jets, which can transport a maximum 114 passengers. The Dien Bien Airport expansion project is aimed at making it capable of handling modern Airbus A320 and A321 aircraft and the equivalent airliners. VASCO, a subsidiary of national flag carrier … [Read more...] about Vietnam’s Dien Bien to close airport for 8-month expansion project