Vietnam china sea

Vietnam’s services sector remains a bright spot, partially offsetting some external weakness, according to a report released by HSBC Vietnam on May 31. Illustrative image (Source: VNA) The report, themed “Vietnam May data: Still a long way to go,” said while Vietnam’s May trade data points to no further deterioration, there is still a long way to see a meaningful rebound in its trade cycle. Exports slightly fall According to the report, exports fell 5.8% year on year in May, a slower pace than the market expected, but with lingering broad-based weakness. None of the major categories, including electronics, machinery, textiles/footwear and wooden furniture showed signs of a meaningful rebound. Data as of April 2023 suggests substantial falling shipments in Vietnam’s three largest exporting destinations - US, China and the EU. In particular, with a hefty share of 30%, Vietnam is particularly sensitive to a US economic slowdown. Despite exports falling by … [Read more...] about Vietnam’s services sector remains a bright spot: HSBC

According to the International Monetary Fund (IMF), Vietnam's GDP based on purchasing power parity (PPP) stood in 25 th position globally in 2022, ranking just below countries such as Australia, and Poland. Specifically, Australia's reached approximately $1.63 trillion, securing 20 th position worldwide, while Poland's stood at around $1.64 trillion, placing it 19 th . The IMF also estimates that by 2023, Vietnam is expected to secure fourth position in Southeast Asia with a forecast GDP PPP of approximately $1.45 trillion. Looking further ahead, by 2026, Vietnam is estimated to have surpassed Thailand, propelling it to the second spot in the region with a figure of around $1.87 trillion. By 2028, Vietnam's economy is anticipated to have reached approximately $2.21 trillion, placing it among the top 20 economies globally. The top 20 economies in 2028, according to the IMF, are predicted to include China, the United States, India, Japan, Germany, Indonesia, Russia, … [Read more...] about Vietnam projected to become 20th largest global economy

Crowds flock to Co To island in Quang Ninh province (Photo: VNA) Hanoi (VNA) – The tourism sector served 12.5 million domestic visitors in May, pushing the total number of the group to over 50.5 million in the first five months. Also in May, revenue from domestic travelers is estimated to hit 267.2 trillion VND (11.37 billion USD). The volume of Vietnamese holidaymakers traveling around the country has been on the rise in conjunction with the annual peak of domestic tourism. On the opposite end, the peak time in domestic tourism is also when international tourism hits its low-season travel period. The sector hosted 1.3 million tourists from the Republic of Korea and 399,000 from China in the period from January to May. This year, Vietnam set a target to earn some 650 trillion VND from 110 million visitors, including 8 million foreigners. According to the Vietnam National Administration of Tourism (VNAT), the 4.6 million international arrivals recorded between … [Read more...] about Vietnam hits peak time for domestic tourism

They will present more than 80 projects for international content buyers, movies, series, and animations at the Russian Content Worldwide booth, organized by Roskino, a national operator for the promotion of films. Among those is “The Challenge” - the first feature film shot in space. Ekaterina Naumova, Roskino Acting General Director said that last year, the Russian film industry had a comprehensive presence at Telefilm Vietnam for the first time in an online format. Customers showed great interest in Russian animation projects, documentaries, action films and comedies, and bought format rights of Russian serials, he noted. This year, in order to more effectively capitalize on film market opportunities and build partnerships with local TV channels, VOD platforms and distributors, Roskino will organize a large-scale offline presence of Russian content producers. This format will allow them to meet potential partners and increase interaction with foreign peers, she said, adding that … [Read more...] about Russian film companies to join Telefilm Vietnam 2023

Fruit and vegetable processors are urged to adopt advanced technologies to improve export value. Vietnam's fruit and vegetable export turnover has risen 29% year-on-year to US$1.9 billion in the first five months of this year, enabling the sector to reach US$4 billion in exports in 2023, according to the Ministry of Agriculture and Rural Development (MARD). Fruit and vegetable exports grossed US$982 million in the first quarter of this year, up 16.2% compared to the same period in 2022, with sales to the Chinese market showing impressive growth. China imported $805 million worth of Vietnamese products, accounting for 80% of the market share. MARD stressed that in foreign markets, including China, Vietnamese fruits face stiff competition from rivals from Thailand, Cambodia, and the Philippines. "Export prospects in the second half of the year will be better as many countries favor Vietnamese agricultural products," it added. Vietnamese durian for exporting. … [Read more...] about Vegetable and fruit exports expected to hit $4 billion this year

It is the VUFO’s most noble distinction honoring Park's significant contribution to the Vietnamese football and the friendly and cooperative relations between the people of Vietnam and the Republic of Korea (RoK). Speaking at the event, Nguyen Phuong Nga said the bilateral ties have become a successful model based on political trust, vibrant economic cooperation, and a close attachment in people-to-people exchanges. She attributed that to the important contribution of people’s organizations and individuals from both countries, including Park. As the head coach of the Vietnamese national football team from 2017 to 2022, Park trained and improved the talent of players, helping them gain confidence and bring glory to Vietnam at regional and international tournaments, including winning the 2018 AFF Cup championship, two gold medals in men's football at the 30th SEA Games in 2019 and the 31st SEA Games in 2021, becoming the second runner-up at the 2018 U23 Asian Cup, securing the fourth … [Read more...] about Coach Park Hang-seo awarded VUFO’s friendship insignia

Border guards of Ca Mau province examine a fishing vessel. (Photo: VNA) HCM City (VNA) – In efforts to persuade the European Commission to lift the “yellow card” warning, localities in the Mekong Delta have been taking strong and concerted measures to eradicate illegal, unreported and unregulated (IUU) fishing and help the fisheries sector develop sustainably. In Soc Trang province, the Sub-department of Fisheries said it has coordinated with the provincial Department of Information and Communications to step up checking vessel monitoring systems (VMS) installed on fishing boats and asked VMS suppliers to make timely repair if there are any breakdowns. So far, all fishing vessels over 15m long in Soc Trang have been equipped with smoothly operating VMS. The province’s Border Guard Command has also ordered local border guard posts to intensify the dissemination of the 2017 Law on Fisheries and others to fishermen. As a result, 368 vessels operating in deep-sea … [Read more...] about Localities in Mekong Delta augment efforts against IUU fishing