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The CEO and Regional Head, Client Coverage, Americas, Standard Chartered, shared his view on Vietnam's significance for US businesses and why Vietnam is potential for foreign investors. Vietnam has gone from being a frontier economy in ASEAN to a flourishing, cost-effective industrial nation. Firms and investors looking for new markets to grow, source, or manufacture their products – especially in Asia – should consider Vietnam’s long-term potential and stay updated on its opportunities. Steven Cranwell, CEO and Regional Head, Client Coverage, Americas, Standard Chartered. Photo: Standard Chartered In recent years, Vietnam has benefited from the trade tensions between the US and China. With US companies adopting a ‘China plus one’ approach to their supply chains, the percentage of exports from Vietnam to the US has risen by approximately nine percent between 2018 and 2021. It is, however, important to note that Vietnam has been an alternative to China … [Read more...] about The significance of Vietnam for US businesses and why they should take notice: Standard Chartered

Trade Counselor Le Phu Cuong at the Vietnamese Embassy in Malaysia . (Photo: VNA) Kuala Lumpur (VNA) – The Vietnamese and Malaysian economies are of a similar size and complement each other, Trade Counselor Le Phu Cuong at the Vietnamese Embassy in Malaysia has said. In an interview with a Vietnam News Agency correspondent based in Kuala Lumpur on the occasion of the 50th anniversary of the countries’ diplomatic relations (March 30, 1973 - March 30, 2023), Cuong said Vietnam boasts advantages in terms of labour and development potential, while Malaysia's are in capital and deep integration into the world economy. Malaysia’s market is not too large in size but diverse in segment and , with its consumers’ characteristics generally similar to Vietnam, he said, adding that its Halal requirements are the biggest difference to note. According to the official, the two countries’ trade and investment relations have developed for a long time since Vietnam integrated into … [Read more...] about Vietnamese, Malaysian economies boast similarities, complementations: trade counselor

Hanoi is known to have more rivers, lakes, ponds, and lagoons than any other city in Vietnam, acting as natural air conditioners to maintain a balanced ecology or being the city's green lung. The Hanoi People's Committee has recently approved a comprehensive list of 3,164 lakes, ponds and lagoons that are now off-limits to reclamation activities, demonstrating the authorities' unwavering commitment to preserving the capital's greenery and environmental sanctity. Cau Giay Lake in Dich Vong Ward, Cau Giay District. Photo: Pham Hung/The Hanoi Times There are 30 districts and towns on the list. Among them, the inner-city district of Hoan Kiem has the lowest number of protected lakes, with only one, while Quoc Oai District has the highest number of protected water bodies, with an impressive 276 lakes, ponds, and lagoons. Other areas with notable numbers include Cau Giay (29), Dong Da (15), Hoang Mai (40), Long Bien (53), and Son Tay Town (199). Drastic actions … [Read more...] about Hanoi determined to preserve its “green lung”

Vietnam attracted 2.7 million foreign tourists in the first quarter of this year, representing an on-year rise of 29.7 times. According to the General Statistics Office (GSO), Vietnam welcomed 895,400 foreign arrivals in March, raising the country’s total number of foreign visitors to 2.7 million. However, the figure only accounted for 60 percent of the first quarter of 2019 pre-Covid-19-pandemic. Foreign tourists in Vietnam Vice Chairman of the Vietnam National Administration of Tourism Pham Van Thuy, said the number of foreign travellers to Vietnam was on the rise. The figure would continue sharply increasing as summer nears. Thuy strongly believed that Vietnam would surpass eight million foreign arrivals this year. Between January and March, Vietnam served 140,233 Chinese tourists. The stronger recovery is expected to start from April as more programmes to promote tours to Vietnam would be carried out. In the first three months of this year, 81,000 … [Read more...] about Vietnam sees surge in foreign tourists

At the Japanese-funded NMS Vietnam Co., Ltd. (Photo: VNA) Hanoi (VNA) – Deputy Prime Minister Tran Luu Quang has freshly signed a decision to approve an action plan for implementing the 2021-2030 national foreign investment cooperation strategy. As per the plan, the Ministry of Planning and Investment (MoPI) is assigned to submit to competent authorities a draft revised law on bidding within the 2022-2023 period; and the Ministry of Finance a governmental decree amending and supplementing Decree 08/2015/ND-CP concerning the implementation of the customs law in 2023. The Ministry of Industry and Trade, meanwhile, is responsible for drafting the Prime Minister's Decision on building a supporting industry development programme for 2026-2030, which should be submitted to authorised agencies by 2025. Reports by agencies and localities involved on the implementation of the strategy are set to be sent to the MoPI before October 30 annually. The decade-long strategy aims to … [Read more...] about Action plan approved to implement foreign investment cooperation strategy

Bangkok (VNA) - The Thai government will fully support this year's Songkran Festival , which takes place from April 13-15, with 17 – 20 million people expected to travel around the country next month. According to Government spokesman Anucha Burapachaisri , Prime Minister Prayut Chan-o-cha had ordered state agencies to prepare grand events for the holiday. The expected number of tourist represents a significant increase from the COVID-19 pandemic period. Anucha said the government has launched campaigns to encourage people to enjoy trips and travel during public holidays between now and September under the Tourism Authority of Thailand's "Visit Thailand Year: Amazing New Chapters" scheme and such campaigns as We Travel Together, Wonder Deal and Secret Code 365. To ensure safety, visitors are encouraged to install the "I Lert U" smartphone application, which allows users to report issues and request assistance. Moreover, it locates the caller and sends help using the … [Read more...] about Thailand expects 17-20 million travelers during Songkran Festival