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Vietnam news in brief – October 2

October 2, 2023 by hanoitimes.vn

Keep updated on the latest news about Vietnam. Vietnam submits next World Heritage candidate to UNESCO The Chua Dong (Bronze Pagoda) on Yen Tu Mountain, Quang Ninh Province. Photo: Truong Giang/The Hanoi Times Vietnam will submit to UNESCO by December 31 to inscribe the Yen Tu-Vinh Nghiem-Con Son-Kiep Bac Relic Complex as a World Heritage Site. The International Council on Monuments and Sites (ICOMOS) will assist Vietnam in reviewing the profile and making changes if necessary. The relic complex covers three northern provinces of Quang Ninh, Hai Duong, and Bac Giang. It is an irreplaceable link in the network of Truc Lam Buddhism, which took root in Vietnam in the 13th century and became the national religion. Vietnamese students studying in Italy welcomed The Vietnamese Embassy and the Vietnamese Students' Association in Italy held a ceremony last weekend to welcome Vietnamese students studying in the southern European country. At the event, the … [Read more...] about Vietnam news in brief – October 2

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Bain Capital invests $200 mln in Vietnam conglomerate Masan

October 2, 2023 by e.vnexpress.net

The deal is set to boost competition in Vietnam's retail market, as rapid urbanization draws domestic and foreign investors looking to expand or gain a foothold in the country of 100 million. Proceeds will go to strengthen Masan's financial position, said the fast-moving consumer goods firm, which runs more than 3,200 supermarkets and minimarts in the southeast Asian nation. "Masan has the right fundamentals, reach, and growth strategy to succeed in a high-growth and compelling consumer market," Bain partner Barnaby Lyons said in the joint statement. The investment would be in the form of convertible dividend preference shares priced at 85,000 dong ($3.50) each, which can be converted into ordinary shares in a one-for-one ratio, Masan added. "We look forward to working with Bain to accelerate our vision to be the one-stop shop for consumer daily needs," its chief executive, Danny Le, said in the statement. Last week Reuters reported that Singapore's sovereign wealth fund, … [Read more...] about Bain Capital invests $200 mln in Vietnam conglomerate Masan

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New approaches in Vietnam’s tourism

October 2, 2023 by vir.com.vn

On September 16, Quang Nam chose India as the first destination of its first provincial tourism promotion programme since the pandemic, opening the door for further activities set to take place elsewhere in the coming months. Deputy director of the Quang Nam Department of Culture, Sports, and Tourism Van Ba Son said many tourism products and services of the province had been introduced to Indian partners during a four-day event in Mumbai city in mid-September. Businesses and travel associations from both sides also reached an agreement on cooperation in exchanging guests, opening up more attractive development opportunities for the tourism industries of the two countries in the future. “We chose India because this country is in the top 10 largest international tourist markets in Vietnam. The number of Indian tourists coming here is increasing, the two countries also have many similarities in culture and religion and both have advantages in developing cultural tours,” Son said. … [Read more...] about New approaches in Vietnam’s tourism

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Vietnam’s PMI falls slightly, new orders increase in September

October 2, 2023 by en.vietnamplus.vn

A garment factory of the Maxport Limited Vietnam in Thai Binh province. (Photo: VNA) HCM City (VNA) – The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) posted 49.7 in September, compared to 50.5 in August, despite the second successive monthly increase in new orders. S&P Global said that after improving in August, overall business conditions in the Vietnamese manufacturing sector declined marginally in September. Underlying data pointed to a strengthening demand environment and growing business confidence, but also a degree of spare capacity in the sector which led to reductions in output and employment. Rates of inflation gathered pace, with both input costs and output prices rising more quickly at the end of the third quarter. The PMI stood at 49.7 points in September, back below the 50.0 no-change mark following a reading of 50.5 in August. The index thereby signalled a deterioration in business conditions for Vietnamese manufacturers, … [Read more...] about Vietnam’s PMI falls slightly, new orders increase in September

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Wrecks smear riverbank in Vietnam’s Nha Trang

October 2, 2023 by tuoitrenews.vn

Shipwrecks have been left abandoned on the bank of a river in Nha Trang City, Khanh Hoa Province, south-central Vietnam for years, causing environmental pollution there. Nguyen Thi Ha, 49, living near the bank of the Tac River in Nha Trang, said, “These wrecks have been lying here for a long time but they have yet to be salvaged and handled. Planks and plastic panels from the ships float on the water, causing pollution.” Most of the broken ships there were salvaged after sinking at sea, Tran Hoc, a 45-year-old fisherman, affirmed. The ship owners left them there as it costs nearly VND100 million (US$4,118) to repair each of such ships. “We can clean up garbage ashore but these ships are their assets. Many ship owners have even traveled to other places to earn their living and we could not contact them,” Hoc explained. These shipwrecks are left abandoned by their owners. Photo: Minh Chien / Tuoi Tre These wrecks have been left on the riverbank for nearly a … [Read more...] about Wrecks smear riverbank in Vietnam’s Nha Trang

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Vietnamese-Japanese idol serves as ‘Vietnam Phở Festival’ MC

October 2, 2023 by vietnamlife.tuoitrenews.vn

Phongchi, or Phuong Chi in Vietnamese, a Japanese of Vietnamese descent, who is a former member of Japan’s popular girl band Idoling, will take the role as the main master of ceremonies for the 'Vietnam Phở Festival,' which is set to take place at Yoyogi Park in Tokyo on Saturday and Sunday. Phongchi expressed her pleasure in joining the cuisine event as an emcee, expecting to chat with visitors during the upcoming fest. Besides, she will also act as an ambassador for the festival. Born to a family of Vietnamese descent in Ho Chi Minh City, she is impressed by Vietnam’s traditional culture. “I have participated in countless Vietnamese festivals and cultural events,” she said. “This festival is so special as it is about pho. “Mentioning Vietnamese dishes, people cannot help listing pho as the first must-try food. “Due to its popularity, pho imposes multiple recipes, and has become a rich source of inspiration for contests. “We can savor a wide range of pho … [Read more...] about Vietnamese-Japanese idol serves as ‘Vietnam Phở Festival’ MC

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Vietnam’s 2023 GDP growth target of 6 percent challenging

October 2, 2023 by tuoitrenews.vn

The target of a gross domestic product (GDP) growth rate of six percent this year is a big challenge to Vietnam as the country needs to achieve an economic expansion of 10.4 percent in the last quarter of the year. The International Monetary Fund has recently forecast Vietnam’s GDP growth for this year at 4.7 percent. Meanwhile, at a Cabinet meeting chaired by Prime Minister Pham Minh Chinh on Saturday, the government chose six percent as the best-case scenario. The target is tough although it is lower than the 6.3 percent set early this year. The Southeast Asian nation’s GDP expanded 4.24 percent in the January-September period, according to the General Statistics Office. The agro-forestry-fishery, industry and construction, and service sectors grew 3.43, 2.41, and 6.32 percent, contributing 9.16, 22.27, and 68.57 percent to the GDP growth, respectively. Industry and construction, which used to be the main driving force of the local economy, has seen its importance … [Read more...] about Vietnam’s 2023 GDP growth target of 6 percent challenging

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Over 2,000 join largest-ever fire drill in Vietnam’s Quang Ninh

October 2, 2023 by tuoitrenews.vn

More than 2,000 people from 15 provinces and cities in northern Vietnam along with about 100 vehicles and two helicopters were mobilized for the largest-ever firefighting exercise in Quang Ninh Province on Sunday. The firefighting and rescue drill was organized by the Ministry of Public Security and the authorities of Quang Ninh Province. The hypothetical situation for the drill was that at about 9:00 am on Sunday, an employee of Wyndham Legend Hotel in Bai Chay Ward, Ha Long City, Quang Ninh detected a fire caused by a gas blast in the kitchen on the fifth floor of the hotel, pulling down an area on the same floor. As smoke, dust, and poisonous gas blanketed the site, some 800 people on different floors of the building sought escape routes in panic. More than 2,000 people and hundreds of vehicles were mobilized to put out the fires at two hotels in a drill in Bai Chay Ward, Ha Long City, Quang Ninh Province, northern Vietnam, October 1, 2023. Photo : Do Phuong / … [Read more...] about Over 2,000 join largest-ever fire drill in Vietnam’s Quang Ninh

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Vietnam to face long-term shortage in pepper-farming areas

October 2, 2023 by vir.com.vn

On September 28, Vietnam's pepper prices levelled off after two consecutive sessions of decreases. The price hovered around VND69,000–72,000 per kg in the southeast region and VND69,000–70,000 per kg in the Central Highlands. "The pepper price will increase if farmers continue to replace pepper trees with fruit trees, leading to a shortage of supply," Hoang Thi Lien, chairman of the Vietnam Pepper and Spice Association (VPSA), said. "Output may decline sharply in the next three years because the wave of crop shifting is taking place strongly." According to the VPSA, there is very little inventory of pepper held by farmers. The majority belongs to wholesalers and speculators. Meanwhile, some processing companies have enough goods to process by year-end, so they don't need to buy pepper at this time. In September, the Foreign Trade Agency under the Ministry of Industry and Trade also predicted the possibility of pepper exports remaining at a low level due to a lack of domestic … [Read more...] about Vietnam to face long-term shortage in pepper-farming areas

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Vietnam’s overseas investment up 4.6% during nine months

October 2, 2023 by en.vietnamplus.vn

A car assembly factory of Vinfast (Illustrative photo: VNA) Hanoi (VNA) – Vietnam’s overseas investment approximated 416.8 million USD during the first nine months of 2023, rising 4.6% year on year, reported the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment . Of the amount, over 244.8 million USD was registered for 84 new projects, equivalent to 70.5% of the value posted in the same period last year, while more than 171.96 million USD was added to 18 existing ones, surging 3.38-fold. Vietnamese investors poured money into 14 sectors abroad during the nine months. The wholesale and retail sector topped the list with nearly 150.64 million USD, accounting for 36.1% of the total, channelled into 26 new projects and six existing ones. The information and communications sector ranked second with over 114.35 million USD, or 27.4%. It was followed by electricity production and distribution, agro-forestry-fisheries, and processing - … [Read more...] about Vietnam’s overseas investment up 4.6% during nine months

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