Deputy Minister of Foreign Affairs Ha Kim Ngoc (Photo: VNA) Hanoi (VNA) - After a year implementing the strategy on cultural diplomacy to 2030, issued by the Prime Minister in November 2021, Vietnam has achieved marked results in the field, helping promote its relations with other countries across all channels of the Party, Government, National Assembly, and people, affirmed Deputy Minister of Foreign Affairs Ha Kim Ngoc. In an interview granted to the Vietnam News Agency, the official noted that Vietnam has focused on including the cultural content into the activities of high-ranking leaders during their overseas trips and the country’s reception of foreign leaders; and on promoting deep and wide integration in the fields of culture, science and education at international forums. According to him, Vietnam hosted significant regional and international conferences and events last year, including the 31st SEA Games and the Vietnam day programme in the Republic of Korea, … [Read more...] about Cultural diplomacy raises Vietnam’s position worldwide
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Foreign investors remain confident about Vietnam’s business environment
Foreign investors poured nearly US$1.7 billion into Vietnam as of January 20. In the first month of 2023, newly-registered capital is estimated to have increased 3.1 times over the same period last year, showing that foreign investors still maintain confidence in Vietnam's investment environment. Hanoi ranks among the top localities in foreign direct investment (FDI) in 2022. Photo: Thang Long Industrial Park The Foreign Investment Agency under the Ministry of Planning and Investment reported that there were 801 newly-registered projects totaling $1.2 billion and 89 projects increasing capital with a combined amount of $306.3 million. In addition, 204 transactions of share purchases by foreign investors were worth $174 million, representing a year-on-year decline of 60.7%. Meanwhile, the disbursement of foreign investments dropped by 16.3% to $1.35 billion. The agency attributed the decrease in registered and disbursed FDI to the national holiday (the … [Read more...] about Foreign investors remain confident about Vietnam’s business environment
Champion to defend WBA belt in hometown next month
"After many days of waiting, the date is finalized. I will have my first pro match in my hometown, the land that fed me and saw my growing up," he wrote on his Facebook page. "I will try my best to give boxing lovers and my home a beautiful match. See you at Buon Ma Thuot city on February 26." Hoang, 32, has a perfect professional record after three pro bouts. He became Vietnam's first WBA Asia East Super Middleweight champion after defeating Korean rival Lee Gyu-hyun in 2019. On February 2, 2020, he knocked out Yuttana Wongda of Thailand to lift the WBA Asia belt. In his most recent outing, Hoang floored Indonesian Robert Kopa in the 'LEAD: The Beginning' event last October. Last month, he cruised to a gold medal at the ninth National Sports Games, which he declared his last amateur boxing competition. Source: VNA … [Read more...] about Champion to defend WBA belt in hometown next month
Tax and land-use fee reductions should continue in 2023: MoF
The Ministry of Finance's main office in downtown Ha Noi. — VNA/VNS Photo The Ministry of Finance (MoF) said tax support policies and land-use fee reductions for businesses should be continued throughout 2023 despite shortfalls in state budget collection. However, the ministry's proposal did not include a value-added tax (VAT) reduction of 2 per cent, which it said has been challenging and complicated to implement. In the MoF's latest proposal to the government, businesses, household businesses and individuals were to continue to enjoy a 30 per cent cut in land-use fees in 2023, on top of an extension on their tax duties. "The ministry supports the government's policy to give businesses more time to meet their financial duties and a 30 per cent reduction in land-use fees as parts of an effort to support businesses," said Ho Duc Phoc, Ministry of Finance. Phoc said key priorities for the central government this year include speeding up the disbursement of public investment … [Read more...] about Tax and land-use fee reductions should continue in 2023: MoF
State-owned banks under capital increase pressure
Vietnam’s four biggest State-owned banks have an urgent need for capital increase in 2023 as their charter capital is too low, with some unable to ensure the regulated minimum capital adequacy ratio (CAR), according to industry insiders. A customer at a Vietcombank office in Hanoi. Though the four biggest State-owned banks, including Vietcombank, have been a key force in supporting the economy to overcome difficulties, their charter capital is too low. Photo thoibaonganhang.vn Currently, the big four, including BIDV, Vietcombank, Agribank and VietinBank, only hold more than 40 per cent of the credit market share of the country’s banking system, but over the years, especially in the past three years, the banks have been a key force in supporting the economy to overcome the difficulties caused by the COVID-19 pandemic and global economic uncertainties. State-owned banks always take the lead in implementing incentive policies of the National Assembly, the … [Read more...] about State-owned banks under capital increase pressure
Mekong Delta – An ideal destination for foreign visitors
A boat carries tourists on a sightseeing tour of the Tram Chim National Park in the Mekong Delta province of Dong Thap. (Photo: VNA) Can Tho (VNA) – Boasting a network of canals, immense rice fields and fruit orchards, the Mekong Delta has become a favourite destination for foreign visitors who wish to explore the life on the water and the original culture of the southwestern region . Located on the lower part of the Mekong River with rich alluvial soil, interlacing canal networks, and temperate climate, the region has the best conditions for growing fruit trees. It is the country’s largest fruit growing area with fruits such as rambutan, mango, durian, longan, guava, orange, and plum. Many orchards in the Mekong Delta are known nationwide, including Cai Be, Vinh Kim and Cho Gao in Tien Giang province; Cai Mon in Ben Tre; Cu Lao An Binh in Vinh Long; and My Khanh in Can Tho city. These orchards have not only brought in agricultural income, but have become … [Read more...] about Mekong Delta – An ideal destination for foreign visitors
Foreign investors remain optimistic about VN stock market
Foreign capital is expected to continue to flow into the stock market as foreign investors' confidence remains strongly. — VNA/VNS Photo From being net sellers in the first nine months of 2022, foreign investors have become the driving force supporting the Vietnamese stock market in the last few months, and the inflows are expected to continue this year. In 2022, this group net disbursed more than VND29.2 trillion (US$1.2 billion) to the market, while it has net sold nearly VND18.8 trillion and set a record net selling value of over VND62.2 trillion in 2021. In November alone, more than VN16 trillion in net disbursed cash flow from foreign investors was significantly supported by exchange-traded fund (ETF) capital inflows into the market, primarily from the Fubon ETF and the VNDiamond Index-based ETF. A study by BIDV Securities Company (BSC) analysing over $50 billion owned by foreign investors on the Vietnamese stock market showed that more than half of foreign ownership is … [Read more...] about Foreign investors remain optimistic about VN stock market