Long nights journey into day

Hospitality businesses and localities nationwide are offering great promotions with high hopes to attracts domestic tourists on the holiday of Reunification Day (April 30) and Labor Day (May 1). In the context that national borders have been closed to international tourism since early 2020, domestic tourism is a ‘lifebuoy’ rescuing the whole industry from the havoc wreaked by the Covid-19 pandemic. The giant Apricot bloosom in Yen Tu Relic Complex, Quang Ninh. Photo: Legacy Yen Tu- MGallery Hoang Nhan Chinh, Head of the Secretariat of the Tourism Advisory Council (TAB) hoped that the holiday of April 30 and May 1 would boost up the domestic tourism market. A recent survey by TAB shows that 30% of tourists are willing to travel on this holiday and more than half of them are ready to go on vacation and explore this summer. As such, stimulating the travel demand in Vietnam is considered a solution for the national tourism sector. Travel agencies have launched various promotional packages in April with the aim of enticing people to travel. Hotels and resorts to offer giant promotions in April The Lotte Hotel Hanoi is offering a promotion entitled “Holiday Recharge Package”, aiming at local family, starting at VND5,500,000 (US$240) per room per night. The booking and stay date are valid until May 3. The “Holiday Recharge Package” is on offer at Lotte Hotel Hanoi. Photo: Huong Thao The package includes accommodation, daily buffet breakfast for up to two adults and two children, an afternoon tea experience, a food & beverage voucher credit of VND3,000,000 ($130), a complimentary late check-out until 4pm, and a courtesy of up to four tickets to enjoy city view at Observatory Deck. This promotional package is applied for bookings with a minimum of two consecutive nights. In addition, the hotel has also introduced a new brunch concept that is offered every weekday. The Grill63’s brunch is a great blend of selection …

[Read more...] about Remarkable tour packages offered Reunification Day and Labor Day holidays

Deposits at banks modest due to low interest rates A person arranges stacks of Vietnamese banknotes. Capital has been poured into other sectors rather than banks due to their low deposit rates According to the Department of Credit for Economic Sectors under the State Bank of Vietnam, in the first quarter of this year, the deposit growth reached only 0.54%, well below the credit growth of 2.93% and the average deposit growth of 2.28% in the first quarter of the past seven years, Lao Dong newspaper reported. At present, the rate for savings of less than six months is 3%-4%. Meanwhile, tenors of six to less than 12 months and over 12 months enjoy a rate of 3.5%-5.5% and 4.6%-6%, respectively. Although some banks have revised up their deposit rates by 0.1-0.4 percentage points, the banks’ average deposit rate in the first quarter remained some 2 percentage points lower than that in the same period last year. If the trend continues, the banking system’s liquidity will no longer be ample this year, according to Bao Viet Securities Company. Meanwhile, the General Statistics Office stated that capital had been injected into other sectors, with life insurance premium soaring 11%. Meanwhile, the securities market mobilized nearly VND55.6 trillion, surging 42% over the same period last year. Pham Lam, vice chairman of the Vietnam Association of Realtors, attributed land fevers over the past few months partly to residents’ idle money and their expectations of higher prices of real estate products. According to Dao Minh Tu, deputy governor of the central bank, as of mid-March, banks’ outstanding loans for the property sector grew 2.13%, higher than the current credit growth of 2.04%, despite the central bank’s close control over credit for the sector. Market rebounds, VN-Index returns to 1,250 point-level Shares settled higher on Wednesday, reversing their morning course on recoveries of materials and banking stocks. The benchmark VN-Index …

[Read more...] about VIETNAM BUSINESS NEWS APRIL 15

Green Farm fresh milk – an environmentally-friendly product of Vinamilk Activate: The story of a R&D journey for more than two decades Vinmec a pioneer in applying screening gene testing technology for type 2 diabetes risk Ixora Ho Tram by Fusion - a sound investment opportunity and an ideal second home “depa” implements first phase of Smart Economy Showcase Project Coastal properties are booming now more than ever thanks to the pent-up travel demand after a long Covid-quarantine period; along with strategic, fast-paced infrastructure development. At just 2 hours drive from HCM City, Ixora Ho Tram by Fusion, nestled inside the 164-hectare Ho Tram Strip complex, is one of the few projects that has attracted special attention from discerning investors. Limited coastal land fund enhances the market attractiveness Addressing the “Coastal Appeal” seminar held on October 14, 2020 in HCM City by the Vietnam Investment Review newspaper, Mr. Do Thien Anh Tuan from Fulbright University Vietnam said that Viet Nam currently has 19 coastal economic zones with scales of 47-48% of the national GDP, of which, the GDP of pure marine economic zones account for 20-22%. Under the master plan on sustainable development of Viet Nam’s marine economy by 2030 with a vision to 2045, this rate is expected to increase to 65-70%. Following the impressive figures, Viet Nam welcomed more than 18 million international tourists and about 85 million domestic tourists in 2019. Tourism contributes about US$32.8 billion to the national economy, equivalent to 9.2% of GDP. From 2021 onwards, these figures are set to increase. The basis for such confidence in growth is the rapidly-growing middle class, which is forecasted to reach 25% of the population by 2025 to about 25 million people. This rate signifies the demand for diversified investment, in which second-home properties are growing in popularity. Wealthy tourists with high disposable income value …

[Read more...] about Ixora Ho Tram by Fusion – A Golden Opportunity For Savvy Investors