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Overseas Vietnamese and foreigners' demand for entering the country has rebounded strongly. (Photo: VNA) Hanoi (VNA) – The diplomatic sector will continue improving public consular services, both at home and abroad, to contribute to the common efforts in post-pandemic recovery and development, an official has said. Talking to the Vietnam News Agency, Doan Hoang Minh, Acting Director of the Ministry of Foreign Affairs (MoFA)’s Consular Department, said most countries removed travel restrictions in 2022, and Vietnam was one of the first to reopen its borders, in mid-March. Since then, the number of people going abroad for working, studying, tourism, and business purposes as well as those entering the country has bounced back strongly. Highlighting the ministry’s determination to build a comprehensive, modern, professional, clean, and strong diplomatic sector, he said that in the current context, as the Government is stepping up administrative procedure reforms and demanding … [Read more...] about Improvement of consular services to continue: official

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

The latest move from the Fed marked eight consecutive rate hikes since March 2022, with no signs that it has reached the peak of its hike journey. Assoc. Prof. Dr. Dinh Trong Thinh, a financial expert from the Vietnam Association of Financial Advisers, predicted that a rate hike of 25 percentage points was anticipated. Thinh stated that, in general, the pressure on the USD/VND exchange rate from the Fed’s interest rate hike is not significant. Pressure on to support new economic growth, photo Le Toan Dr. Le Dang Doanh, former head of the Central Institute for Economic Management, also believes that the Fed’s interest rate rise is targeted to contain inflation in the US, since inflation has begun to fall from the previous year’s low level. The USD price will adjust as a result. “A change in the price will influence the exchange rate between it and VND, impacting import-export businesses and foreign-invested enterprises,” said Doanh. On the other hand, deposit interest … [Read more...] about Pressure on to support new economic growth

Despite near-term trade headwinds, tourism has emerged as a source of growth for Vietnam to mitigate the challenges ahead in 2023, according to the “Vietnam at a glance” report released by HSBC on February 6. Foreign tourists visit Vietnam (Photo: VNA) The report stressed that January’s data showed Vietnam continues to face difficulties in trade and the inflationary pressure of increasing prices. However, in spite of slowing trade, there are still pockets of resilience in Vietnam’s economy, and tourism will be a key one in 2023. Following its re-opening last March, Vietnam’s domestic tourism has been soaring, easily surpassing its 2022 target of 60 million to over 100 million tourists. Meanwhile, international tourism, which previously accounted for 60% of tourism receipts, saw a tepid recovery post COVID-19, with tourist arrivals reaching 3.6 million, only 20% of 2019’s level. But there are good reasons to expect a more meaningful recovery, in … [Read more...] about Tourism – a source of growth in Vietnam for 2023: HSBC

Spring in the mountainous province of Ha Giang. (Photo: VNA) Hanoi (VNA) – Severe cold spell s are expected to hit northern mountainous and midland provinces in the second half of this month, according to the National Centre for Hydro-meteorological Forecasting. Nguyen Duc Hoa, deputy head of the agency’s Weather Forecasting Department, said that in the first half of this month, as intensive cold air tends to be weakened and deviates to the East, northern and northcentral localities from Thanh Hoa to Nghe An will see light rain, drizzle, and fog at night and in the early morning. Meanwhile, there are possibilities that severe cold and harmful cold will appear later this month in mountainous and midland provinces, he added. Hoa said that the average temperature across the country this month is at approximately similar to the average of many years. Particularly, in the northwest region, the common temperature is 0.5-1.5 degrees Celsius higher than the average of many … [Read more...] about Severe cold spells expected to hit northern mountainous provinces late this month

HSBC predicted in its latest report on Vietnam’s economy that the Southeast Asian country will see a recovery of the number of Chinese visitors by 50-80 percent in 2023 compared to the pre-pandemic volume. In other words, Vietnam is set to welcome three to 4.5 million Chinese tourists this year. The increasing return of Chinese tourists following China’s border reopening on January 8 will notably contribute to the growth of Vietnam’s tourism, which can be a key sector for the latter in 2023, offsetting the decline in trading and manufacturing, according to HSBC experts. In a broader view, the experts believe that the Vietnamese economy will witness a shift from goods to services, which they consider a driver for economic stability despite the trade slowdown. Red represents Chinese tourists as a percentage of the total number of international visitors to countries in Southeast Asia. After Vietnam resumed inbound and outbound tourism in March 2022, its domestic … [Read more...] about Chinese visitors to Vietnam to reach 3-4.5 million in 2023: HSBC

New momentum For over one week now, more than 94% of businesses in the Southern economic hub has resumed their production with over 95% of workers being back to work after Tet holiday. Workers at Go Vap district-based Joint Stock Company 28.1 under the Corporation 28 of the General Department of Logistics, which specializes in garments making, are working with the highest capacity, focusing on orders from the U.S., Australia, and European countries. Working for the company for more than 21 years now, Nguyen Van Hong from Hai Duong province said that good income and policy offered by the company make him feel secure at work. Despite difficulties facing the garment sector due to COVID-19, his company has ensured orders uninterrupted, so workers have resumed work since the beginning of the lunar New Year. In addition, good Tet welfare policy has helped keep workers attached to the company. Senior Colonel Tran Doan Thoan, Director of Joint Stock Company 28.1 informed that the … [Read more...] about Businesses in Ho Chi Minh City speed up production to achieve set targets

The Republic of Korea's largest low-cost airline Jeju Air unveiled on February 6 that it will resume additional air routes to Vietnam, starting in April 2023, after a three-year hiatus caused by the COVID-19 pandemic. Jeju Air plans to reopen flights from Incheon to Hanoi and Ho Chi Minh City of Vietnam as from April 20, the airline said in its announcement. Last June, the budget airline re-operated flights from Incheon to Da Nang and Nha Trang, and from Busan to Da Nang in central Vietnam. By the end of 2019, Jeju Air had operated eight air routes to five cities in Vietnam including Da Nang, Hanoi, Ho Chi Minh City, Nha Trang and Phu Quoc. However, most of the routes were suspended in early 2020 due to subsequent COVID-19 outbreaks. Jeju Air also plans to resume flights from Incheon to the Lao capital Vientiane from April 20. … [Read more...] about Jeju Air to resume more air routes to Vietnam this April

Four Vietnamese students from Le Hong Phong High School for the Gifted in the northern province of Nam Dinh won a gold medal at the World Invention Creativity Olympic (WICO) 2023, which recently concluded in the Republic of Korea (RoK). Four Vietnamese students win gold at Invention Creativity Olympic 2023 (Photo: Nam Dinh Newspaper) Their wining invention came from instructions given by Dr. Tran Thi Thanh Xuan, head of the Biology - Technology Department. WICO aims to provide a platform for students from all over the world to come together and create innovations that can be applied in reality. The annual competition is organised by the Korea University Invention Association and supported by the National Assembly of the RoK. This marks the seventh time that Vietnam has attended the WICO and achieved success. In 2019, two inventions by Vietnamese students also won gold medals at the competition. … [Read more...] about Vietnamese students win gold at Invention Creativity Olympic 2023

Young people depart for military service in Hanoi. (Photo: VNA) Hanoi (VNA) - Ceremonies to see young people off for military service were held in 30 towns and districts of Hanoi on February 6. Secretary of the municipal Party Committee Dinh Tien Dung expressed his wish that the fresh recruits will become outstanding officers and soldiers, and his belief that each of them will strive in training. Vu Anh Dung from Giang Vo ward said he is proud to join the military, and promised to well perform in the military. Present at a ceremony in Dong Anh district, Chairman of the municipal People’s Committee Tran Sy Thanh affirmed that fulfilling military duty is both the responsibility and the pride of youngsters. Standing Deputy Secretary of the municipal Party Committee Nguyen Thi Tuyen also attended a ceremony in Bac Tu Liem district. At a ceremony in Hai Phong (Photo: VNA) Similar ceremonies were organised in the nine cities and provinces of the Military Region 3, … [Read more...] about New recruits sent off in ceremonies for military service