Post pandemic

Vietnam has reported an on-year gross domestic product (GDP) growth of about 3.32 percent in the first quarter of this year, the growth nears the 13-year lowest level, according to the General Statistics Office (GSO). Illustrative photo The level was higher only than the growth rate of 3.21% recorded in the first quarter of 2020 in the 2011 to 2023 period. According to a GSO's report released at a press conference on Wednesday morning, the service sector grew 6.79 percent and contributed the lion’s share of 95.91 percent to the overall GDP growth, followed by the agro-forestry-fishery sector which expanded 2.52 percent and contributed 8.85 percent. Industry and construction contracted 0.40 percent, representing a 4.76 percent fall. Speaking at the conference, GSO General Director Nguyen Thi Huong explained that the robust growth of the service sector had clearly shown recovery thanks to the government's policies, the post-Covid-19 economic reopening, and … [Read more...] about Vietnam posts 3.32 percent GDP growth in Q1, lowest level in 13 years

A tourism development forum with the participation of Hanoi, Ho Chi Minh City and major provinces/cities in the central region, is slated to take place in Quang Nam province on November 27-28. The Departments of Tourism, Culture and Sports of Hanoi, Ho Chi Minh City, Danang, Quang Nam and Thua Thien-Hue on November 6 held an online meeting to discuss the organization of a tourism development forum gathering provinces and cities across Vietnam. A caravan tour from Hanoi to the central region. The forum is slated to take place in Quang Nam province on November 27–28. In the first day of the forum, there will be meetings and discussions among tourism companies from Hanoi, Ho Chi Minh City, Danang, Quang Nam and Thua Thien-Hue; the launch of a tourism exhibition space, including travel destinations, tourism products and local specialties, among others. On November 28, the Ministry of Culture, Sports and Tourism in collaboration with tourism management … [Read more...] about Hanoi to cooperate with central region to promote domestic tourism post Covid-19

The Vietnamese economy expanded about 3.32% in Q1 of 2023 compared to the same period last year. (Photo: VNA) Hanoi (VNA) – Vietnam’s gross domestic product ( GDP ) has grown about 3.32% year on year in the first quarter of 2023, according to the General Statistics Office (GSO). The expansion is only higher than the 3.21% recorded in Q1 of 2020 during the 2011 - 2023 period, the GSO told a press conference on March 29. In particular, the agro-forestry-fishery sector expanded 2.52% and contributed 8.85% to the GDP growth. Meanwhile, industry and construction contracted 0.4%, leading to a 4.76% decline in the growth, and the service sector increased 6.79% to contribute to 95.91% of the overall expansion. In the agro-forestry-fishery sector , agriculture saw a year-on-year increase of 2.43% in added value, forestry 3.66%, and fisheries 2.68%. The GSO press conference on March 29 (Photo: VNA) The added value of construction dropped 0.82% in Q1, the sharpest … [Read more...] about Vietnam posts 3.32% GDP growth in Q1

The first quarter figures were around 60% of pre-pandemic levels and one-third of this year's 8-million target, according to a report released by the General Statistics Office (GSO) on Wednesday. The number is less than half of Thailand's 6.15 million arrivals. Arrivals from Asian countries to Vietnam surged 33 times year-on-year to 1.93 million, accounting for over half of total foreign arrivals in the first three months of this year, according to the GSO report. Tourists from Europe increased by 23 times to 385,000. Following repeated calls from industry insiders to relax immigration policies, the government announced it will ask the National Assembly, Vietnam's highest legislative body, to resume the three-month visa policy for foreigners entering Vietnam. The National Assembly's next meeting is in May. At present, the country only offers a one-month, single-entry e-visa to visitors from 80 countries. Despite being one of the first Southeast Asian countries to fully … [Read more...] about Foreign tourist arrivals in Vietnam skyrocket in Q1

In 2022, two-way trade between Yunnan (China) and the bordering provinces of Vietnam is expected to reach US$3.25 billion. The provincial authorities of Vietnam's Lao Cai and China's Yunnan agreed on March 28 to take necessary measures to lift their comprehensive ties, especially trade. A truck that links Lao Cai and Yunnan Province passes the Kim Thanh II International Border Gate. Photo: The Hanoi Times "The comprehensive partnership between Lao Cai and Yunnan has improved tremendously in recent years, but it has not reached its full potential," said Hoang Quoc Khanh, permanent vice chairman of the Lao Cai Provincial People's Committee. Khanh suggested that Yunnan authorities further relax regulations and facilitate cross-border trade and travel between the two nations to improve bilateral relations. The Lao Cai official said Chinese authorities should restore trade and travel activities to pre-pandemic levels. He also urged the Chinese government to … [Read more...] about Lao Cai and Yunnan provinces agree to strengthen bilateral ties

Although Vietnam reopened its door to international tourists over a year ago, small and medium lodging facilities in Ho Chi Minh City are still struggling to recover due to the small number of international visitors. Their largest source market is China while the number of guests from the northern neighbor remains modest, forcing many hotels to use their facilities for other purposes or stop leasing spaces. Shutdown, falling room occupancy In District 1, many hotels which used to be crowded with foreign travelers are now empty or have been replaced by other businesses. On Ly Tu Trong Street, a spacious hotel is being repurposed. The hotel is in a prime site, near Ben Thanh Market, Nguyen Hue Pedestrian Street, and Le Loi Boulevard, once favored by international tourists. Many 'House for Lease' signboards can also be seen along Bui Vien Walking Street and De Tham Street with many of them being hung in front of small, one- and two-star hotels. The director of a chain of … [Read more...] about Ho Chi Minh City hotels waiting for int’l guests

Do Tien Dung, chairman of the Board of Directors at Hang Xanh Motors Service JSC (Haxaco), said that the company counted $3.04 million in profit in Q1 last year. However, they are just trying to break even in Q1 due to a sharp fall in the demand, and the situation may spread until the end of Q2. Most car dealers saw a flat business in the year to date Consumers have been cautious due to very high borrowing costs. In addition, the quiet stock market and real estate market have badly affected people’s purchasing power. A source from Huyndai Thanh Cong reported that for the year to date, auto dealers have launched diverse incentives to attract buyers, yet demand for autos has dwindled amid surging borrowing cost and lowered incomes. Saigon General Service Corporation (Savico) commented that the threat of global economic recession, high inflation and shortage of chipsets and semiconductors would result in auto supply volatilities. Stagnant auto registration … [Read more...] about Car industry remains flat

She had announced she would leave her post as Fulbright president this summer after an eight-year stint. Thuy, 62, has master’s degrees in management from Harvard University and the Wharton School of the University of Pennsylvania in the U.S. She has also been general director of ANZ Vietnam and the Vietnam International Commercial Joint Stock Bank (VIB). Tasco was known as a major toll booth operator with projects spread throughout the country. After its founder, Phan Quang Dung, quit as president, the firm restructured with three different businesses: infrastructure-car service, real estate and insurance. This year Tasco targets revenues of VND22.5 trillion (US$957.6 million) and a profit of VND600 billion. … [Read more...] about Fulbright University chief named to Tasco management board

Around 10,000 discounted tours will be offered at Vietnam International Travel Mart 2023 which is scheduled to take place in Hanoi next month. The event will be held at Vietnam-Soviet Culture and Labour Friendship Palace on April 13-16, and is expected to attract 600 attendees from inside and outside the country with a total of 450 booths. Mekong Delta localities will set up large-scale stalls. Vietnam International Travel Mart 2023 will be organised in April There will be programmes to promote destinations such as Ninh Binh, Thanh Hoa, Nghe An Ha Tinh and Thai Nguyen as well as Taiwan, Nepal and Indonesia. The theme of the event is cultural tourism, which encourages enterprises to focus on building new tourism products featuring cultural values and traditions. Vu The Binh, chairman of the Vietnam Tourism Association, said that a forum on developing Vietnam’s cultural tourism will be organised within the framework of the fair with the participation of … [Read more...] about 10,000 discounted tours to be offered at international tourism fair

Prime Minister Prayut Chan-o-cha has ordered state agencies to prepare grand events and ensure safety with many foreign tourists expected to flock to one of the country's biggest festivals, Bangkok Post reported. Some 20 million people are expected to travel around the country between April 13 and 15 when the New Year is celebrated. The police have urged both Thai and foreign tourists to install their mobile app called "Tourist Police i lert u" to file complaints or call in an emergency. During Songkran, which falls in mid-April annually, crowds pack the streets for boisterous celebrations, which involves spraying water guns and hurling water off pick-up trucks. But to contain Covid, the government canceled celebrations for the last three years. … [Read more...] about Thailand expects 20 million travelers during Songkran holidays