Singapore vietnam economic co operation future development of da nang

Kevin Coppel, Asia-Pacific managing director (left ) and Christine Li, Asia-Pacific head of research for Knight Frank in Singapore When the US-China trade tensions bubbled over in 2018, corporates found it increasingly difficult to carry out business in China due to sourcing uncertainties and rising costs. This trend only worsened in the face of the pandemic and resulting border closures. Businesses responded by pursuing opportunities to set up bases outside of China while still retaining a stake in one of the world’s strongest economies. The China+1 strategy thus emerged. It is based on diversifying its supply base into other countries in order to minimise the risk of disruptions arising from geopolitical tensions, trade wars and tariffs, as well as rising labour costs. These companies are not abandoning China but rather giving themselves options, enjoying the best of what China and other economies have to offer. In pursuit of the China+1 strategy, the spotlight is naturally … [Read more...] about Will Vietnam become a big geopolitical beneficiary?

It is estimated that a total of over 36,000 flights will be made available for summer travelers from June 1 to August 15. The three carriers will provide nearly 6.3 million seats on more than 32,400 domestic flights, up 10 percent compared to the same period of 2019 before the COVID-19 broke out. The busiest routes are those among major cities of Hanoi, Da Nang and Ho Chi Minh City with close to 160 flights per day. Hundreds of flights will be also operated to fly vacationers to popular tourist destinations across Vietnam, including Phu Quoc, Cam Ranh, Da Lat, Hue, Quy Nhon, Dong Hoi, Tuy Hoa and Con Dao. Vietnam Airlines Group plans to operate approximately 430 domestic flights daily during the summer. More than 852,000 seats will be offered on international routes, down 40 percent from 2019 because cross-border travel demand is yet to fully recover. Source: VNA … [Read more...] about Vietnam Airlines Group to offer 7.1 mln seats during summer

Amid growing challenges of global food security, Vietnam would further enhance the exports of food and agricultural products. Vietnam seeks to contribute to peace and stability in Asia and the world and remains steadfast in pursuing an independent foreign policy based on multilateralism and active integration into the global community. Deputy Prime Minister Pham Binh Minh at the event. Source: VNA “The Vietnamese Government considers the people at the center and engine for growth, and is committed to ensuring social justice and advancement, along with a healthy cultural and social environment.” Deputy Prime Minister Pham Binh Minh gave the remarks at the 27 th International Conference on the future of Asia held in Tokyo on May 26. This year’s event, themed “Redefining Asia’s role in a divided world,” focuses on discussing the regional and global situation, for which leaders from countries such as Japan, Vietnam, Laos, Thailand, Singapore, and Cambodia … [Read more...] about Vietnam seeks to contribute to peace and stability in Asia

Deputy Prime Minister Pham Binh Minh. (Photo: VNA) Tokyo (VNA) – Deputy Prime Minister Pham Binh Minh is set to deliver a speech at the 27th International Conference on the Future of Asia (FOA 2022) that opened in Tokyo on May 26. This year’s conference, held in both online and in-person forms, saw the attendance of leaders from Asian countries, including those from Southeast Asian nations such as Cambodian Prime Minister Samdech Techo Hun Sen, Lao President Laos Thongloun Sisoulith, Malaysian Prime Minister Ismail Sabri bin Yaakob, Prime Minister of Singapore Lee Hsien Loong and Thai Prime Minister Prayut Chan-ocha. During the two-day conference, the political and economic leaders and scholars listen to views of Asian leaders on regional and international issues. Besides, panel discussions feature topics such as change the world from Asia, developing Asian business through cultural exchange, Russia-Ukraine conflict, and Asian security. The Future of Asia is an … [Read more...] about Vietnam attends int’l conference on future of Asia

Vietnamese Ambassador to South Africa Hoang Van Loi (R) at the seminar (Photo: VNA) Pretoria (VNA) - Vietnamese Ambassador to South Africa Hoang Van Loi has led a delegation of Vietnamese representative agencies in South Africa to attend a seminar on ASEAN investment held by the Department of International Relations and Cooperation (DIRCO) of South Africa and the Northern Cape provincial government in Kimberley city. This an initiative of the ASEAN Committee in Pretoria and is the first seminar on ASEAN investment organised in a South African locality. It also opened a series of events to explore opportunities for investment and trade cooperation between ASEAN member countries and South Africa in general and the Northern Cape province in particular. In his speech, Ambassador Loi briefed participants on Vietnam’s socio-economic development, major development orientations, as well as potential and opportunities to strengthen economic, trade, investment and tourism … [Read more...] about Vietnam eyes stronger trade, investment cooperation with South Africa

Illustrative image. (Photo: SGGP) According to Mr. Nguyen Ngoc Dung, Chairman of Vietnam E-commerce Association (Vecom), in 2021, despite being heavily affected by the Covid-19 pandemic, Vietnam's e-commerce still maintained a good growth momentum with an increase of about 20 percent and a scale of $16 billion. Keeping the growth momentum, Vietnam is now one of the countries with the largest e-commerce market size in the region, besides Indonesia, Thailand, and Malaysia. Vietnam's internet economy in 2021 grew by 31 percent compared to 2020 and reached a scale of $21 billion. Of which, the online retail sector enlarged by 53 percent and touched a scale of $13 billion. There are two waves that have contributed to the steady development of e-commerce in Vietnam in 2020 and 2021 and will be the driving force for the next period. The first wave took place during the early stages of the Covid-19 pandemic in 2020, and the second one from June to September 2021, during the fourth … [Read more...] about Opportunities for e-commerce in Vietnam to boom

Illustrative image (Photo: VNA) HCM City (VNA) - Up to 21 percent of Indian firms operating or intending to operate in Southeast Asia plan to expand their business in Vietnam in the next two years, and the ratio is 26 percent among Chinese enterprises , according to a HSBC survey covering more than 1,500 companies from six of the world’s largest economies – all of which have operations in Southeast Asia. Regarding advantages of Vietnam, three out of 10 surveyed companies pointed to skilled workforce, while 27 percent cited competitive wage prices and proven economic resilience in response to the pandemic. Currently, 39 percent of Indian companies stated they were attracted by Vietnam’s infrastructure, while 39 percent of US firms said that they are keen on opportunities to develop and test new products/solutions in the market. Particularly, 49 percent of surveyed firms, mostly from China, India and the US, said that they hope to make use of the EU-Vietnam Free … [Read more...] about Vietnam remains attractive to int’l investors: HSBC

Illustrative image This has led to a new consensus from different development economies for the need to reduce dependency on one source and improve integration among various countries. However, the process of reducing dependency has led to rising inflation, labor shortages, more regional protectionism, and fluctuating shocks in the global financial world. Under such an unpredictable scenario in global trade it would be surprising if countries such as Vietnam will participate in a monetary system that would be chosen for a global trade chain. New global trends It was not until the 19th century that global integration began to develop. However, this trend of globalization eventually waned and collapsed during World War I, and was followed by postwar protectionism, the Great Depression, and finally the long and brutal World War II. When World War II ended in the mid-1940s, the United States led the efforts to restore international trade and investment under several set ground … [Read more...] about Vietnam has choices under new global trends

International experiences contribute to building harmonious and stable labor relations, protecting the legitimate rights and interests of employees in Vietnam's retail industry. UNI Global Union - Asia and Pacific Regional Office (UNI APRO) is committed to working closely with the Vietnam General Confederation of Labor (VGCL) to improve the quality of Trade Union activities in the country’s chain of retail stores. UNI APRO's Secretary Rajendra Acharya Kumar made his statement at a workshop held in Hanoi this week. The secretary highly valued the activities of the Vietnamese trade union in protecting the legitimate rights and interests of employees as well as their welfare amid the Covid-19 pandemic. UNI APRO's Secretary Rajendra Acharya Kumar (left) and Standing Vice President of the VGCL Tran Thanh Hai at the workshop held in Hanoi. Photo: Hai Nguyen He said UNI APRO has signed framework agreements with multinational corporations and wishes to cooperate … [Read more...] about UNI APRO, Vietnam exchange experience in trade union activities

The survey covers more than 1,500 companies from six of the largest economies in the world, including China, France, Germany, India, the UK and the US – all of which have operations in Southeast Asia. The survey gauges their sentiment on doing business in Southeast Asia, with a particular focus on trade, digitalisation, and sustainability. On the advantages side, three out of 10 surveyed companies found Vietnam’s skilled workforce to be the most attractive feature of the market, while 27 per cent of respondents were attracted by the country’s optimistic economic outlook, competitive wage prices, and the resilience demonstrated by Vietnam during the pandemic. It is worth noting that 39 per cent of Indian companies favoured the market thanks to developed infrastructure and 49 per cent favoured Vietnam's supportive government and regulatory environment. About 36 per cent of US companies were very attracted by the opportunity Vietnam affords to test and develop new products and … [Read more...] about Indian investors likely to expand presence in Vietnam