Thai baht value

Jakarta (VNA) – The Indonesian Chamber of Commerce and Industry (KADIN) has called for the adoption of the ASEAN Quick Response (QR) Code by all ASEAN countries at the ASEAN Business Advisory Council (BAC) meeting. The transactions carried out via ASEAN QR Code will use local currencies, KADIN Chaiman Arsjad Rasjid said after chairing the ASEAN-BAC meeting in Magelang district, Central Java of Indonesia, on March 22. He said that if a transaction is conducted in Indonesia, it will use the rupiah. Likewise, if it is conducted in Thailand, it will use the Thai baht, and so on, he explained. The QR code adoption will also reduce the cost of transactions, thus it can be the key for micro, small, and medium enterprises (MSMEs) and bigger business players in ASEAN to collaborate, he said. The ASEAN QR Code is one of the comprehensive legacy programs promoted by KADIN as a solution to strengthen digital transformation in ASEAN, which is one of the five ASEAN-BAC priority … [Read more...] about Indonesia hastens ASEAN’s adoption of regional QR Code

A street in Bangkok capital of Thailand. (Photo: AP) Bangkok (VNA) - Election campaigns are forecast to generate up to 120 billion THB (3.5 billion USD) for the economy of Thailand, said the Centre for Economic and Business Forecasting at the University of the Thai Chamber of Commerce . The centre’s director Thanawat Polvichai said political parties are going into full gear with campaigning for votes after the election date was set for May 14 by the Election Commission. The 120 billion THB generated while campaigning will push Thailand ’s GDP up by 4% in the second quarter, he said, adding that the Thai economy is expected to grow by 3-4% this year. However, rising production costs and inflation can affect the business sector’s profits and liquidity though the economy is believed to pick up in the second half of this year, according to Thanawat./. VNA … [Read more...] about Election campaigns may create 3.5 billion USD for Thai economy

Bangkok (VNA) – Thai police on March 22 announced that they had arrested 20 suspects, including five Indians and 15 Thais, for alleged involvement in a phone scam network preying on elderly Americans. According to local police, the scammers were arrested in Chon Buri, Rayong, Roi Et and Surat Thani on March 21, adding that all five of the Indian suspects were men and 11 of the 15 Thais detained were women. The police also seized 162 bank account books, 61 mobile phones, two cars, one pistol, land title deeds and other assets. The investigation dates back to last year, when US Federal Bureau of Investigation (FBI) and Secret Service agents informed Thai police that Indian cyber criminals and Thai nationals had set up a phone scam network to trick elderly people in US into transferring money to them. The fraudsters, pretending to be US law-enforcement officials, preyed on the fear of their victims by telling them that they were being investigated for alleged money … [Read more...] about Thailand arrests phone scam gang targeting elderly Americans

Phu Quoc is currently the only destination in Vietnam with this unique visa policy. According to current legal regulations, from July 2020, foreigners and Vietnamese holding foreign passports entering, exiting, and residing in Phu Quoc Island are exempt from visas for a temporary stay of no more than 30 days. Foreigners can enter an international border gate (including air and sea), stay in the transit area at that border gate, and then transfer to Phu Quoc Island to be exempt from visas following this regulation. Phu Quoc is famous for its beautiful and dreamlike beaches Phu Quoc has this visa policy because it is the only island that meets the conditions of visa exemption for foreigners under Vietnamese law. It has an international airport, definite geographical boundaries, is separate from the mainland, supports the nation's socioeconomic development policy, and does not jeopardise national defence, security, social order, or safety. As an isolated island located … [Read more...] about Visa exemption means international tourists can visit Phu Quoc for up to 30 days

The Vietnam News Agency (VNA) and the National Associated Press Agency of Italy (ANSA) sign a professional cooperation agreement at an online ceremony held in Hanoi on February 20. (Photo: VNA) Hanoi (VNA) - Italian Ambassador to Vietnam Antonio Alessandro cited Italian President Sergio Mattarella's words as saying that the relationship between the two countries “strongly rooted in history” while granting an interview to the Vietnam News Agency (VNA) on the occasion of the 50th founding anniversary of bilateral diplomatic ties (March 23, 1973 - 2023). The following is the full text of the interview. Reporter: How do you evaluate the relations between Vietnam and Italy since the establishment of the bilateral diplomatic ties 50 years ago, especially since the upgrading of the relationship to a strategic partnership in January 2013? Ambassador Antonio Alessandro : I would use the words of the President of the Italian Republic Sergio Mattarella, who has just released a … [Read more...] about Italy – Vietnam relationship “strongly rooted in history”: Ambassador

Car production plant in Chon Buri province of Thailand. (Photo: bangkokpost.com) Bangkok (VNA) - Automobile production in Thailand rose 6.39% in February from a year earlier to 165,612 units, as a shortage of microchips eased and export increased, the Federation of Thai Industries (FTI) reported. Spokesperson for FTI’s automotive industry division Surapong Paisitpattanapong said export climbed 11.42% in February from a year earlier, after January’s 24.28% rise. Domestic sales, however, dropped 3.94% in February from a year earlier, after January’s 5.58% fall, due to an unexpected sharp decrease in truck sales, he said. In January, automobile production rose 4.02% year-on-year. Thailand is a regional vehicle production and export base for some of the world’s top carmakers, including Toyota and Honda./. VNA … [Read more...] about Thailand’s automobile production up 6.39% in Feb

A community-based tourism and cultural village in Ha Giang's Meo Vac district. (Photo: VNA) Ha Giang (VNA) – With its advantages in terms of natural landscapes, rich cultural identities, customs and preserved traditional festivals, the northernmost province of Ha Giang has attracted attention from a large number of travel companies and tourists, and several potential community-based tourist sites have been formed. Ha Giang province is home to 19 ethnic groups which have their own cultural traditions and identities. The effective preservation and promotion of cultural values has helped the province in general and the ethnic groups in particular have a special attraction for travelers and those who want to learn about traditional ethnic culture. According to Deputy Director of the provincial Department of Culture, Sports and Tourism Trieu Thi Tinh, over the past years, the province has selected outstanding cultural products to develop to create more highlights for … [Read more...] about Ha Giang effectively develops community-based tourism

Over the past 35 years of development, the Vietnam Bank for Agriculture and Rural Development, better known as Agribank, always proves its position and role as a leading commercial bank in Vietnam. It has pioneered monetary policies, contributing to stabilizing the macro-economy, curbing inflation and supporting the country’s economic growth. The bank has cemented its key role in developing the agriculture sector and rural areas and offering credit and services to serve the country’s socio-economic development. Agribank was proud to receive the Vietnam National Brand award for the third consecutive year in 2022 and was among the top 10 Vietnamese strong banking and financial brands the same year. The lender has obtained impressive achievements in digital and green transformation and made substantial contributions to community development. Despite the negative impact of the COVID-19 pandemic, Agribank, with its initiative and flexibility, has employed multiple … [Read more...] about Vietnam’s Agribank wins many local prestigious prizes

Vietnamese boxer Nguyen Thi Tam trounced Spanish rival Laura Fuertes Fernandez 5-0 in the women’s 50kg quarterfinals to advance to the semifinals of the 2023 IBA Women’s World Boxing Championships in India on Wednesday. From the beginning of Wednesday’s match, Tam showed her dominance over Fernandez. Tam did not allow her opponent to approach while launching single and continuous attacks. With abundant physical strength and good stature, Tam confused the European No. 9 and took the lead in the showdown. In the first two rounds, Tam scored with straight punches and accurate hooks into Fernandez’s face, abdomen, and ribs to claim the absolute victory. In the third round, Fernandez tried to regain the balance but ended up being squeezed out by the Vietnamese boxer. At one point, Fernandez even failed to keep her composure and had an unsportsmanlike conduct against Tam, for which she was given a warning. In the end, Tam won 5-0 with the absolute points of 30 in all five … [Read more...] about Vietnamese boxer outplays Spanish competitor to advance to world championship semifinals

A Coca Cola factory in Viet Nam. The beverage giant was among companies joining the mission. — Photo nld.com.vn Senior executives from 52 US companies in the 'biggest-ever' US business mission to Viet Nam are discussing investment and sales opportunities in the country. Chairman of the US-ASEAN Business Council (USABC) Ted Osius said the council was never as busy as it is now. Its services are in high demand because many US companies show great interest in the country. He also said USABC representatives from other countries told him that they must act quickly because they were competing with Viet Nam. That was a way of saying Viet Nam has become a destination for growth and opportunities. Rafael Frankel, Director of Public Policy at Meta, said the trip was the second time he had been to Viet Nam since the outbreak of the COVID-19 pandemic. He appreciates the diligence of the Vietnamese workforce and sees a bright prospect for growth in the country. As such, he revealed the … [Read more...] about US companies upbeat on investment opportunities in Viet Nam