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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

The festival is held annually to welcome the spring and to honor ethnic communities' identity, promote solidarity among them and offer a traditional festive atmosphere to tourists as well. Some 100 representatives of 15 ethnic groups from 13 localities throughout the country will host activities each day during the month. The festival climax will be on February 11 and 12 with the Kate Festival of the Cham group, tree planting, folk cham do ho singing and performing Xoe Thai - a UNESCO recognized intangible cultural heritage of humanity. The Kate Festival is one of the biggest and most unique cultural activities of the Cham. It features a host of activities and ceremonies at ancient towers, with traditions including offerings to ancestors, musical performances, and the signing of hymns praising kings who were prominent in the building and development of the Champa Kingdom and the Cham people. Tree planting has become an annual Vietnamese custom each lunar New Year since … [Read more...] about Spring festival to showcase cultural identities

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