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Local businesses are advised to be more creative, react faster, and have more resources to adapt to unforeseen changes by 2023. Tourism firms are optimistic about the outlook for 2023, especially the goal of welcoming 110 million visitors to Vietnam this year when sharing with The Hanoi Times on the occasion of the Lunar New Year holiday. Travelers from Colombia visit Hue City and Hoi An Ancient Town, Quang Nam Province. Photo: Asia Exotica Vietnam Travel Alberto J. Lugo-Vina, General Manager, Hotel de l’Opera Hanoi: The hospitality industry is recovering strongly. The first quarter of 2022 was very challenging for us, and we believe not only us but many other hotels and hotel team members feel exhausted after such a long time of so many ups and downs. The opening of tourism from March 15, 2022, is an important milestone for Vietnam's tourism industry and our hotel. After the re-opening of international flight routes, as of April 2022 onwards, … [Read more...] about Tourism firms upbeat about Vietnam’s 2023 outlook

After Vietnam lost the AFF Cup final to Thailand on Monday night, Park gave an online interview with South Korean media. He expressed regret for not being able to win a second AFF Cup title with the team and for having to say goodbye to the players. He also revealed that there may be a possibility he could continue working with Vietnamese football in another role. What are your thoughts after finishing five years with Vietnamese football? I have finished my final tournament with Vietnamese football, and it's a shame that we could only come in second. The players tried their best. Although I have some regrets, I'm deeply grateful for them. It's heartbreaking to say goodbye to the players. I know that in life, it's normal to come and go, and parting ways with the team is a necessary decision for the development of Vietnamese football. Now is the time to organize my thoughts and navigate a new path. Five years is not a short time. When did you feel like it was time to stop? … [Read more...] about Parting ways with Vietnam a necessary choice: coach Park

Vietnam and South Korea have agreed to promote two-way trade to US$100 billion within this year and $150 billion by 2030 in a more sustainable and balanced manner by making the best use of existing bilateral and multilateral trade deals. The agreement was reached on Tuesday during the talks between Vietnamese Prime Minister Pham Minh Chinh and South Korean Speaker Kim Jin-pyo, who is on a visit to Vietnam at the invitation of Vietnam’s National Assembly Chairman Vuong Dinh Hue, the Vietnam Government Portal reported. The two sides expressed their pleasure that the two countries’ relations have fruitfully developed in all fields after 30 years of establishing diplomatic relations. In the context of rapid and complicated changes in the world and regional situation, including the impact of the COVID-19 pandemic, the relationship between the two countries continues to maintain a stable development momentum, and the mutual political trust has been continuously strengthened. … [Read more...] about Vietnam, S.Korea aim to boost bilateral trade to $100bn this year

The top legislators of Vietnam and the Republic of Korea (RoK) have agreed to swiftly meet the target of raising bilateral trade turnover to US$100 billion by 2023 and to US$150 billion by 2030 in a more sustainable and balanced manner by making full use of existing bilateral and multilateral trade agreements. National Assembly Chairman Vuong Dinh Hue (R) and Speaker of the Republic of Korea (RoK)’s NA Kim Jin-pyo Talks were held between National Assembly (NA) Chairman Vuong Dinh Hue and Speaker of the Republic of Korea (RoK)’s NA Kim Jin-pyo on January 17 in Hanoi following an official welcome ceremony held for the top Korean legislator and his entourage on the same day. During the course of talks, NA Chairman Hue warmly welcomed the Korean parliamentary speaker, his wife, and the delegation’s visit to Vietnam, saying that the trip comes right after the two countries announced the upgrading of bilateral ties to a "Comprehensive Strategic Partnership" on the … [Read more...] about Vietnam, RoK target US$150 billion trade turnover by 2030

Despite global disruptions caused by the pandemic, the countries’ bilateral trade in 2022 continued upward and showed signs of positive recovery. Regarding economic relations, Malaysia remains Vietnam’s ninth-largest trading partner, 13th-largest export market, and 9th-largest import source. Suhaili Ismail, Counsellor of Economic Affairs Malaysian Embassy to Vietnam During the official visit to Vietnam in March 2022, Malaysia’s former prime minister made courtesy calls to all the country’s most senior leaders. During the meeting with Prime Minister Pham Minh Chinh, both leaders agreed to increase exchanges of delegations at all levels, effectively promote bilateral cooperation, carry out the action plan of the 2021-2025 strategic partnership, expand people-to-people exchanges and prepare activities to celebrate 50 years of diplomatic ties in 2023. Both leaders also highlighted the importance of strengthening our bilateral trade, striving towards the target of $18 … [Read more...] about Malaysia can forge further strategies with Vietnam

In an article in late December focused on Vietnam’s strong economic growth in 2022, S D Pradhan, who once served as chairman of India’s Joint Intelligence Committee, pointed out many bright prospects for cooperation in the economic sphere between the two countries. He mentioned the potential of cooperation in IT and engineering. “India can help provide skill training to Vietnamese on a larger scale. In the digital sector, India’s assistance can be of great value to Vietnam for enhancing the ease of doing business,” Pradhan wrote. Vietnam-India cooperation blossoming in technology and engineering spheres, illustration photo/ Le Toan Vietnam has set priorities at the 13th National Party Congress that include national digital transformation, developing a digital-based economy, greater stress on science and technology, and creating a conducive environment for business development and manufacturing. Vietnam is accelerating its digital transformation trajectory towards … [Read more...] about Vietnam-India cooperation blossoming in technology and engineering spheres

Vi, who has almost 20 years of experience working in the field of finance and investment credit, discussed credit financing for renewable energy initiatives, including wind and solar, at the event. She said the spectrum of electricity investment in Vietnam could be divided into three categories: foreign investors, Vietnamese corporate entities that can arrange credit with domestic and foreign banks, and businesses that have not yet had the opportunity to arrange capital but wish to. During 2017–2019, international investors could obtain capital inflows at a cost of around 4–5 per cent, but Vietnamese firms had to obtain capital from local banks at a cost of 11–15 per cent of total capital expenses. Therefore, local investors were pressured to invest much more than their international counterparts. In addition, Vietnamese organisations and businesses continue to need assistance in gaining access to credit, owing to the fact that international banks do not lend to local businesses … [Read more...] about Misleading to assert foreign firms dominate Vietnam’s energy sphere: expert

Speaking at the inauguration ceremony, Hue said that the VKIST project is the fruit of the two countries’ cooperation in science, technology, and innovation, which is considered an inevitable trend of the times. He said in the past time, the governments of the two countries have always paid special attention to VKIST and expected that the success of the institute model would create a driving force to promote the transformation of the national innovation system, contributing to a breakthrough for Vietnam's science and technology. For his part, Kim said that the VKIST project is of great significance in the two countries’ cooperation in science, technology, and innovation. This is also the largest project financed by the RoK's non-refundable aid in the world and is also the project to support the establishment of the first public research unit of the RoK, he said. Emphasizing that the success of VKIST completely depends on the researchers of the institute, he expects researchers … [Read more...] about Headquarters of Vietnam-Korea Institute of Science and Technology inaugurated

Local businesses are advised to be more creative, react faster, and have more resources to adapt to unforeseen changes by 2023. Tourism firms are optimistic about the outlook for 2023, especially the goal of welcoming 110 million visitors to Vietnam this year when sharing with The Hanoi Times on the occasion of the Lunar New Year holiday. Travelers from Colombia visit Hue City and Hoi An Ancient Town, Quang Nam Province. Photo: Asia Exotica Vietnam Travel Alberto J. Lugo-Vina, General Manager, Hotel de l’Opera Hanoi: The hospitality industry is recovering strongly. The first quarter of 2022 was very challenging for us, and we believe not only us but many other hotels and hotel team members feel exhausted after such a long time of so many ups and downs. The opening of tourism from March 15, 2022, is an important milestone for Vietnam's tourism industry and our hotel. After the re-opening of international flight routes, as of April 2022 onwards, … [Read more...] about Tourism firms upbeat about 2023

The RCEP accounts for over a quarter of global exports, photo Le Toan On January 2, the Regional Comprehensive Economic Partnership (RCEP) took effect for Indonesia. The preferential tariffs under the deal can now be used by the private sector who are exporting to and/or importing from Indonesia, according to the ASEAN Secretariat. In a release issued by the Indonesian Ministry of Trade, Minister Zulkifli Hasan said that the RCEP is expected to increase competitiveness and strengthen global production network, promote regional supply chain through better market access for exports of goods and services, reduce or eliminate trade barriers, and enhance transfer of technology. “The entry into force of the RCEP is timely to mark the beginning of Indonesia’s ASEAN Chairmanship in 2023. Indonesia has been the driving force in the deal since the conceptualisation phase, and we hope more milestones, such as the establishment of the RCEP Support Unit, can be achieved during Indonesia’s … [Read more...] about RCEP boosting like-minded vision among bloc members