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According to its latest report on Southeast Asia, HSBC said Thailand will benefit the most from China’s reopening. It said further that tourism in Vietnam was also expected to perform well as Chinese tourists account for some 30% of international arrivals to the country. This month Khanh Hoa Province is expected to have nine charter flights which will bring Chinese visitors to Vietnam after a 3-year suspension due to the pandemic. Hotels in Hoi An, in the central province of Quang Nam, have also received bookings from Chinese tourists. Regarding trade, since 2020 ASEAN has surpassed the E.U. to become China’s largest trading partner. Last year Vietnam was one of three Southeast Asian countries, along with Indonesia and Malaysia, reporting increases in exports to China. Vietnam is also benefiting from more favorable trade ties with China because exports no longer have to undergo strict Covid testing. Concerning FDI, Japan and South Korea are the leading countries in terms of … [Read more...] about Vietnam’s tourism, trade, FDI rosy amid China’s reopening: HSBC

Remittance flows into Viet Nam approximated $19 billion in 2022. — Photo baotintuc.vn Viet Nam remains one of the 10 countries receiving the most remittances in the world, according to the recent Migration and Development Brief by the World Bank and the Global Knowledge Partnership on Migration and Development (KNOMAD). Despite the COVID-19 pandemic’s major impacts on the global economy over the last two years and growing inflation in many countries, remittance flows into Viet Nam remained relatively stable compared to previous years, the report noted. Total remittances to Viet Nam increased by nearly 5 per cent in 2022 and may go up 3.6-4.5 per cent in the following years after growing 5 per cent in 2021, according to statistics of WB and KNOMAD. Last year, the value rose about US$1 billion to approximate $19 billion, making the country one of the three biggest recipients in the Asia-Pacific and among the top 10 globally in terms of remittances. Some banks perceived that … [Read more...] about Viet Nam among world’s 10 biggest recipients of remittances

A Sunjin Vina Co plant in Ha Nam Province. — Photo danviet.vn South Korea-invested Sunjin Vina Co has received a licence from Hau Giang Industrial Zones (IZ) Management Board to develop a seafood feed plant in the province's Tan Phu Thanh Industrial Zone (IZ). The 2.6ha-plant, expected to cost US$23.6 million, will produce 126,000 tonnes of fish and shrimp feed products annually, the Vietnam Investment Review has reported. The plant's first phase is slated for completion in May 2024. Head of the board Tran Ngoc Hung described the plant's investment licence as a good start to the year for the province and the investor. He said his board would create all the most favourable conditions for the investor while coordinating with relevant departments to solve difficulties promptly, so that it could soon put the project into operation. Founded in 2007, Sunjin Vina Co now has four feed mills in Hung Yen, Ha Nam, Dong Nai and Tien Giang provinces with a total designed capacity of … [Read more...] about Hau Giang approves $23.6m seafood feed plant