Strong family history

President Vo Van Thuong greets the revolution contributors from Vinh Long province in Hanoi on May 30. (Photo: VNA) Hanoi (VNA) – President Vo Van Thuong had a meeting with a delegation of 70 revolution contributors from the Mekong Delta province of Vinh Long in Hanoi on May 30. The Vinh Long delegates include war invalids, those used to be imprisoned by enemies or affected by Agent Orange/dioxin, martyrs’ relatives, and families of revolution contributors. Appreciating the Party, State, and society’s attention and assistance to revolution contributors nationwide, including those in Vinh Long, they said they have always stayed united and made efforts to improve their life, contribute to local and national development, and join hands with authorities in repatriating martyrs’ remains and building, upgrading monuments to martyrs. They pledged to uphold revolutionary traditions, set good examples, and educate younger generations on the traditions so that Vinh Long will … [Read more...] about State leader hails dedications by Vinh Long revolution contributors

Deutsche Bank office in Viet Nam. The bank announced it will double its capital allocation in the country. — Photo Courtesy Deutsche Bank Deutsche Bank has announced a capital allocation increase for its HCM City branch of US$100 million, bringing its total to just over $200 million. The increased capital will support the bank’s growth in the country and allow it to undertake more activities for its clients, the bank said. “This capital investment in Viet Nam is reflective of our confidence in this market’s rapid development and long-term growth trajectory. Viet Nam is an increasingly strategic market for our clients. This capital injection will enable us to better support our clients’ expansion plans in the country, and likewise the broader Vietnamese economy. We’re proud of the strong local business we have built over our decades of experience here, and look forward to continuing to grow our business alongside our clients over the years to come,” said Deutsche Bank Asia … [Read more...] about Deutsche Bank doubles its capital allocation in Viet Nam

Being one of the best-loved railways in Southeast Asia, Vietnam's North-South Railway, with two ends at Hanoi and Ho Chi Minh City, attracts many travelers. Lonely Planet, the world-renowned travel guide, named Vietnam National Railway the most incredible rail trip in the world. The 1,730-kilometer journey from Hanoi to Ho Chi Minh City offers breathtaking views of the country's diverse landscapes, making it a must-see for foreigners coming to Vietnam, the magazine said. "Some railways rattle through historic cities; others swoosh beside spectacular coastlines. A few have an epic history, and one or two are remarkable for the colorful characters onboard. The Reunification Express line, known as the North–South Railway, fulfills all these criteria," it stated. The railway is one of Southeast Asia's best-loved railways and the world's most epic overnight train journeys. It's also one of Vietnam's tourism highlights that attracts many international visitors. … [Read more...] about Vietnam’s Reunification Express named world’s most incredible rail journey: Lonely Planet

The Vietnam Fatherland Front ’s 9th National Congress. (Photo: VNA) Hanoi (VNA) - Permanent member of the Party Central Committee's Secretariat Truong Thi Mai has signed a document on directing the organisation of Vietnam Fatherland Front (VFF)’s 10th National Congress in the 2024 – 2019 tenure, and the congresses of the VFF’s chambers at all levels. The document said in recent times, the VFF has continued to assert its position and role in protecting the legitimate rights and interests of the people. It focuses on promoting people's rights and mobilising their participation in patriotic movement s, engaging in social supervision and criticism, combating corruption and negative phenomena, and participating in building a clean and strong Party and political system. These efforts have contributed to strengthening the people's trust in the Party and harnessing the power of the great national solidarity bloc in the cause of national construction and defence. The upcoming … [Read more...] about Party Secretariat issues directive on organising Front ’s congresses

Printer production at Canon Vietnam (Photo: hanoimoi.com.vn) Hanoi (VNA) – Amid the slowing down of the global investment flows, experts held that improving both quality and number of foreign investment projects is a heavy task for Vietnam, requiring great efforts from the Vietnamese Government to fulfil the “dual targets”. According to the Foreign Investment Agency under the Ministry of Planning and Investment (MPI), as of May 20, Vietnam had drawn 10.86 billion USD of foreign direct investment (FDI), down 7.3% year on year, including 5.26 billion USD of newly-registered capital, up 27.8%. Do Nhat Hoang, Director of the agency said that the increase in the amount of newly-registered capital in five months was higher than the 11% recorded in the first four months of this year. Meanwhile, the number of new projects in the five-month period also surged 66.4% year on year to 962 projects, showing foreign investors’ strong confidence in the investment environment of Vietnam … [Read more...] about Improving FDI quality, quantity crucial for Vietnam: Insiders

Inside a warehouse of JFE Shoji Steel Hai Phong Company in Hai Phong Province. — VNA/VNS Photo Canada Border Service Agency (CBSA) updated the timeline for auditing the anti-dumping tax on corrosion-resistant steel (COR) of Viet Nam and Turkey, according to the Trade Remedies Authorities of Vietnam. Particularly, CBSA will stop gathering information on June 15, and the parties will submit their arguments on June 22. The deadline for submitting information is June 29, and CBSA will announce the result on July 17. Previously, CBSA proposed anti-dumping and anti-subsidy investigations against COR steel imported from Turkey, the United Arab Emirates (UAE), and Viet Nam in November 2019. Viet Nam’s anti-dumping tax rate is ranging from 2.3 per cent to 71.1 per cent and is not subject to anti-subsidy tax because the subsidy level is only from 0.1 per cent to 0.2 per cent. However, the export turnover of Viet Nam's taxed products still increased strongly in 2020 and 2022, … [Read more...] about Canada to review duty taxes on Viet Nam’s corrosion-resistant steel

Speakers at a meeting in HCM City on Monday to discuss ways for the city to attract remittances and investment. — Photo danviet.vn HCM City will improve its business climate and create favourable conditions to attract remittances and investment, said a city official. Speaking at a meeting on Monday, Nguyen Duc Lenh, deputy director of the State Bank of Viet Nam (SBV) HCM City branch, said the city planned to enhance monetary and foreign exchange policies and remittance services. Options for remittances include money transfers, cheques, bank transfers, prepaid cards and several other ways of sending money without a bank account. "Besides foreign investment (FDI), remittances are a major source that helps ensure the foreign currency supply and stabilise the national foreign exchange reserves," he said. Financial and banking expert Nguyen Tri Hieu said Viet Nam should ensure stable macroeconomic policies to increase the confidence of overseas Vietnamese to send back money for … [Read more...] about HCM City seeks to attract remittances, investment

Workers at Nhon Trach 2 Plant. — VNA/VNS Photo Huy Hung Fitch Ratings has affirmed PetroVietnam Power Corporation (PV Power)’s long-term foreign-currency issuer default rating (IDR) at “BB” with a positive outlook. This is the third consecutive year that PV Power has received “BB” rating with a positive outlook, the highest rating that a Vietnamese company can reach. The rating, which is based on PV Power's Standalone Credit Profile (SCP) assessment of “BB”, is on a par with the IDR of its 80 per cent parent, Vietnam Oil and Gas Group (PVN, BB/Positive). PV Power's SCP is driven by its strong market position as Viet Nam's second-largest electricity producer, accounting for around 5 per cent of the country's total electricity output and 5 per cent of installed capacity in 2022. It also benefits from diversified fuel sources, long-term power-purchase agreements (PPAs) with Viet Nam Electricity (EVN, BB/Positive) for more than 80 per cent of its electricity output and a strong … [Read more...] about PV Power receives “BB” rating for third consecutive year

As annual tourism activity held by the local authorities, the event aims to promote and introduce unique, attractive and outstanding values of  tourism resources of Ninh Binh, especially UNESCO-recognized World Cultural and Natural Heritage - Trang An Scenic Landscape Complex. Via the annual event, Ninh Binh continues affirming its brand and position as a safe and friendly destination, as voted by many renowned newspapers, magazines and travel websites worldwide as one of the top 10 ideal destinations for a wonderful family vacation in 2023. The event offers a chance for visitors to admire a 9,500sq.m painting using rice as material on vast fields of Tam Coc stretching along the winding Ngo Dong river. The painting symbolizes abundance and the bountiful water element that supports the sustainable development of green tourism in the ancient capital of Hoa Lu, a land of cultural heritage for thousands of years. Rice fields in Tam Coc have been voted as one of the most beautiful in … [Read more...] about Tourism week “The Golden Color of Tam Coc – Trang An” opens in Ninh Binh

According to a recent report by the Bank of Korea (BOK), Vietnam is swiftly becoming a significant market for South Korean semiconductor makers, who have been grappling with lacklustre demand in China. As the rivalry between the United States and China intensifies, the BOK has emphasised the importance of diversifying export markets for industry giants like Samsung Electronics and SK Hynix. The BOK underlines Vietnam's emergence as a new source of demand for South Korean semiconductors, highlighting its growing status as an international hub for IT device production and potentially positioning it as a substitute for China in the future. Major smartphone manufacturers have established production bases in Vietnam, where South Korean semiconductors play a crucial role as intermediary goods in the production of finished products, the report notes. Vietnam's abundant low-wage workforce and its proximity to the Chinese market are attracting global businesses, including South Korean … [Read more...] about Vietnam’s market becomes ray of hope for South Korean semiconductor manufacturers