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Stakeholders have much to say about the current state of the tourism industry, and what must be done Prime Minister Pham Minh Chinh chaired a tourism recovery conference on March 15 and talked to management agencies and tourism businesses about removing obstacles for the industry to thrive once again. Despite being one of the first Southeast Asian countries to fully reopen to international tourism after the pandemic, Vietnam’s tourism industry still trails other countries in the region. The PM raised a series of questions about tourism promotion, competitive advantages, products, and visa policies – all factors that are considered to be subjective causes for Vietnam’s tourism to fail its foreign tourism targets thus far. “Tourism cannot develop alone, and tourism cannot develop if culture and the entertainment industry do not develop,” PM Chinh said. He directed the tourism industry to build green and sustainable tourism products, finance tourism activities, and develop … [Read more...] about Tourism breakthrough within reach

ROUNDTABLE: Seeking a boost for inbound tourism Speaking at the opening of the roundtable discussion, VIR's Editor-in-Chief Le Trong Minh shared, " Tourism is one of the most dynamic and fastest-growing economic sectors in the world today. Its importance in creating jobs and promoting growth is addressed in some of the Sustainable Development Goals in the United Nations Development programme." He cited statistics showing Vietnam's tourism created more than 1.3 million direct jobs in 2019, contributing 9.2 per cent of the country's total GDP (equivalent to $32.8 billion). This is a significant number, but it remains low compared to the global average. Vietnam has yet to unlock the full potential of its tourism industry. "Despite the economic volatility, the recovery of inbound tourism will bring many advantages, such as creating jobs and improving labour mobility. As the manufacturing industry is struggling due to a shrinking export market, tourism is a viable on-site … [Read more...] about VIR’s rountable discussion sheds lights on the recovery of inbound tourism

Prime Minister Pham Minh Chinh (front row, fourth from right) with delegates from international organisations and business associations at the event. — VNA/VNS Photo Duong Giang The Vietnamese Government is committed to creating favourable conditions for businesses to develop, Prime Minister Pham Minh Chinh said at the Annual Viet Nam Business Forum held in Ha Noi on Sunday. It would continue to perfect mechanisms and policies to create a favourable and equal business environment, improve national competitiveness, remove difficulties for enterprises and increase transparency and equality in access to resources. Top priority would also be given to cutting costs for businesses and synchronously and effectively deploying policies to support firms in capital, technology transfer, training and human resource development. Viet Nam would also develop all kinds of markets, including goods and services, finance-currency, securities, real estate, science- technology, labour and public … [Read more...] about Viet Nam vows to faciliate businesses towards green growth, says PM

The snipping sound of scissors, upbeat people cheerfully chatting about the trendiest hairstyles, along with the hustle and bustle of the street made a free haircut program held for local residents in Ho Chi Minh City over a week ago a joyful occasion. The meaningful program took place at the headquarters of the People’s Committee of Ward 4 in Go Vap District. The event was hosted on March 12 by Sai Gon Cho Lac Xoong in coordination with the local authorities of Ward 4 and Vu Tri and Tom barbershops, among others. The free haircut event served more than 300 guests after two hours. Photo: Cong Trieu / Tuoi Tre 56 barbers, 2 hours, and over 300 new haircuts This mobile barber’s served more than 300 guests after two hours. The faces of all the guests, from young to old, were glowing with happiness while they were getting a new haircut. Stopping her bike along the street, the mother of two, Kinh Tam, 5, and Kinh Phong, 3, spoke to the barbers with a radiant … [Read more...] about Free haircuts raise spirits in Ho Chi Minh City

The interest rate hikes by the US Federal Reserve and other central banks that began to significantly accelerate in the second half of 2022 have impacted the tech industry and investors in significant ways. These hikes are expected to continue, at least in the short term, until the central banks are satisfied that inflation is under control or lose their nerve. When that happens is anyone’s guess. Eric Johnson, counsel at Freshfields Bruckhaus Deringer LLP This rapidly changing financial environment has made it more difficult for digital economy companies, especially those that are currently not profitable, to raise money in both public and private markets. Many investors have adopted a wait-and-see approach until the situation becomes clearer, and are revisiting the assumptions behind the sky-high valuations that many tech companies previously commanded. The recent failure of Silicon Valley Bank in the US has sent a shockwave through the tech and venture capital … [Read more...] about Supporting the digital economy space

Kam Thon and other women who live by the Mekong have been collecting river weed, or khai, for decades, but their harvest has fallen since China built nearly a dozen dams upstream. The dams have altered the flow of water and block much of the sediment that is vital for khai and rice cultivation, researchers say. "Generally, the water is clear and the level is lower in the dry season, and we can easily wade in and harvest khai. But now, the water level is higher during dry season, which makes it more difficult," said Kam Thon, who sells khai at the local market. "We need to spend more time collecting khai, and there is also less khai, which has affected our income," the 48-year-old said, as she rolled handfuls of the stringy green weed into balls and placed them in a nylon bag slung on her shoulder. Kam Thon, who lives in Chiang Khong by the Thai-Laos border, said she only makes only about a third of what she used to earn when the Mekong’s waters ran low in the dry season and the … [Read more...] about China’s Mekong dams turn Thai fishing villages into ‘ghost towns’

PM Pham Minh Chinh chairing the VBF 2023, highlighting the role of the business community in fostering green growth in Vietnam. Photo: Nhat Bac The high-level session of the Vietnam Business Forum (VBF) took place today on March 19, chaired by Prime Minister Pham Minh Chinh. With the theme “Business community in partnership with the government in fostering green growth,” the VBF also marked its 25 th anniversary. At the opening of the forum, Minister of Planning and Investment Nguyen Chi Dung highlighted that economic recovery and development in the direction of green and sustainable growth was a top priority for every country. The common goal is to achieve economic prosperity, environmental sustainability and social equity; towards a green and carbon-neutral economy while contributing to limiting global temperature rises. "For Vietnam, green growth is not only an inevitable choice but also an opportunity to become a pioneer in the region, catching up with the … [Read more...] about Vietnam aims to lead region’s development on green growth

Vietnam was the seventh best destination in the world for expats, according to the 2022 Expat Insider survey by InterNations, which threw up opportunities for the country's real estate. 84% of expats in Vietnam said they are happy with their lives compared to a global rate of 71%. Several factors have contributed to the blossoming of expat communities in major cities such as Hanoi and Ho Chi Minh. Many people choose Vietnam for the opportunities it offers to develop their talents, increase their incomes and achieve a stable life. Strong economic integration has also led to an increase in the number of foreign experts sent to Vietnam by international corporations. The expat community is often categorized as a high-income group. They have experience of all kinds of high-class living spaces, which clearly explains the strict requirements they have for their homes. Like successful young Vietnamese, they place a strong emphasis on criteria such as diverse facilities, spacious … [Read more...] about Expat community a force reshaping Vietnamese real estate