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Asia’s increased borrowing in recent decades has augmented the region’s exposure to rising interest rates and heightened market volatility, said the International Monetary Fund (IMF). According to the IMF’s latest report on May 25, over 18 per cent of Vietnamese enterprises were found to have an interest coverage ratio (ICR) below one, indicating a high risk of default as of June 2022. Additionally, 18.32 per cent of companies had an ICR between 1-4, making them vulnerable to increased borrowing costs, while 63.36 per cent had an ICR of four, signalling a good debt repayment capacity. The report attributes the heightened risks to the rising cost of borrowing, as central banks tighten monetary policies and increase interest rates to combat inflation. Despite maintaining growth rates, companies face significant pressure due to higher borrowing costs, reducing their ability to repay debts. As of mid-2022, 17 per cent of Asia’s corporate debt was held by firms with interest … [Read more...] about IMF highlights rising debt risks for Asian companies

The fifth plenary session of the 15th National Assembly has discussed and approved a number of important draft bills, including three new amendments to regulations that have significant impacts on the tourism industry in Vietnam. These policies are expected to boost the recovery and development of the tourism sector. Martin Koerner - Chairman EuroCham Vietnam’s Tourism and Hospitality Sector Committee The first law is to extend the visa exemption duration from the current 15 days to 45 days for citizens of countries that currently can travel to Vietnam visa exempt, including France, Germany, Italy, Spain, the UK, Japan, South Korea, Norway, Finland, Denmark, and Sweden. This law aims to attract more tourists from these key markets and encourage them to stay longer and spend more here. The second law is to expand the list of countries eligible for e-visa from 46 to 80, including markets such as India, Brazil, Mexico, and Argentina. The e-visa allows visitors to apply … [Read more...] about The future of tourism in Vietnam new visa policies and beyond

The northern region of Vietnam is in the midst of a scorching heatwave. A representative from EVN stated that electricity consumption, both nationally and in Hanoi in particular, has steadily increased recently as a result of widespread and prolonged hot weather. According to EVN's statistics, the average daily electricity consumption in the city was 58,336 million kWh in March, 61,542 million kWh in April, and 75,406 million kWh in May. Consequently, average electricity consumption in May increased by more than 22.5 per cent compared to April. Deputy Minister of Industry and Trade (MoIT) Do Thang Hai, speaking on June 3, said, "Some areas currently lack sufficient electricity for production and daily, but the situation will soon be rectified." The power disruption in Hanoi and other areas will only last for a limited duration. According to Hai, hydropower, one of the primary sources of electricity in the north, is being mobilised at a low level due to the lack of sufficient … [Read more...] about Northern Vietnam lacking sufficient electrical power

Difficulties on way out for Vietnam’s Visa policy The short duration of stay, along with complicated factors related to the visa application procedure, have been causing headaches for foreign tourists. However, the Minister of Public Security has submitted to the National Assembly a draft amendment and supplement to a number of articles of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam at the end of May. The new draft has proposed to increase the duration of e-visas from no more than 30 days to a maximum of three months, valid for one time or multiple times. At the same time, the scope of e-visa issuance would be expanded to more than 80 countries and temporary residence would rise from 15 to 45 days. The Ministry of Culture, Sports and Tourism also proposed to consider supplementing the pilot regulation of issuing visas at border gates for international tourists. This proposal also requires a clearer regulation of the extension of visa-free entry for … [Read more...] about Difficulties on way out for Vietnam’s Visa policy

In the first five months of the year, Vietnam welcomed nearly 4.6 million international visitors, 13 times the amount on-year and equal to 63 per cent compared to 2019. The ten largest markets were South Korea, Mainland China, the US, Taiwan, Japan, Thailand, Malaysia, Cambodia, Australia, and Singapore, providing a combined total of 3.3 million arrivals, accounting for 71 per cent of the total number of visitors. Before 2019, China was Vietnam's largest international tourist market, accounting for about 30 per cent of the total number of visitors. That year, Vietnam welcomed 18 million international visitors, of which China contributed 5.8 million, followed by visitors from Russia, the UK, and France. After the Covid-19 pandemic, South Korea has since risen to be the largest tourist market with 1.3 million arrivals, followed by China in second. Several European markets have also dropped out of the top ten, replaced by the likes of Cambodia and Singapore. According to … [Read more...] about Vietnam’s Top 10 international tourist markets

Operating for 14 years in the country, British University Vietnam (BUV) has asserted its position, quality, and outstanding reputation in the education sector by continuously improving the quality of its training, demonstrating the international standard and value of British higher education. BUV pledges investment in quality education in Vietnam BUV, located in Ecopark 14km from the centre of Hanoi, is the first and only university in Vietnam and ASEAN to have been awarded accreditation from the Higher Education Quality Assurance Agency. To earn the recognition of quality, BUV has completed the International Quality Review, a rigorous procedure which benchmarks global higher education institutions against the United Kingdom’s international quality assurance standards, with the university achieving the highest level of performance in all 10 categories and outstanding accomplishments in all academic aspects. BUV is also the first and only university in Vietnam to be … [Read more...] about BUV pledges investment in quality education in Vietnam