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Great opportunities Vietnam has climbed up the value chain over the years, becoming a key electronics manufacturing hub, attracting stable foreign direct investment with its sound macro fundamentals, preferential tax incentives and an abundance of relatively cheap and productive labor. Electronics, a major driving force of Vietnam’s export growth Vietnamese enterprises are increasingly integrating into the global production chain, as confirmed by international organizations, including the World Bank and the Hongkong and Shanghai Banking Corporation Limited (HSBC) in their reports. For decades an apparel and footwear exporter with a low value added, Vietnam has gradually become an important production center in the technology industry, according to HSBC. Ngo Dang Khoa, HSBC Vietnam’s Country Head of Markets and Securities, said Vietnam has become a production center of electronics and cell phone components, helping it lure an increasing number of foreign … [Read more...] about Vietnam’s star rises in global supply chains

The South Korean musician has composed a series of MVs on Vietnam since he moved to work in the Southeast Asian country three years ago. Vietnam appears splendid with dozens of tourist attractions featured in “Waiting for You – 5000 Years” music video performed by South Korean musician and singer Joseph Kwon. South Korean musician Joseph Kwon at the event releasing “Waiting for You – 5000 Years” MV in Hanoi on August 10. File photo Being showcased in the MV are famous places namely Sa Pa, Ba Be, Ha Long Bay, Trang An Landscape, Cuc Phuong National Park, Tam Chuc, Tam Coc, Mui Ne sand dunes, Nha Trang, Phu Quoc Island, Hanoi’s Old Quarter, Danang, Hoi An, among others. The places that the artist called ‘heavenly’, ‘fantastic’, ‘pearl island’, and ‘emerald.” Among the places, the French-designed Old Quarter in Hanoi looks different from other places where the couple in MV “go through the old streets together.” Filmed from May 17 to July 15, “Waiting for You … [Read more...] about Vietnam is stunning in South Korean artist’s MV

With the peak summer travel season drawing to a close, Vietnam’s international tourism segment still faces bottlenecks on its route to full recovery. Within the framework of a program early this week to discuss the current state of the Vietnamese tourism sector, representatives from businesses and organizations across the country voiced doubts that Vietnam will meet its goal of welcoming five million foreign tourists by the end of the year if regulations governing visa policies, infrastructure, and personnel are not relaxed. Incomplete recovery According to Cao Thi Tuyet Lan, sales manager at Viettours Incentives & Events Co. Ltd., foreign tourists still find it difficult to enter the country despite Vietnam having fully reopened its borders. “What's more, it is hard to apply for visas for business travelers who work with domestic enterprises," Lan said. “[The domestic partner] first has to register [the foreign partner] with the Immigration Department, then wait for a … [Read more...] about Vietnam still struggles to welcome back int’l tourists

Vietnam says that its trade relations with the US have coincided with the World Trade Organization's regulations. Vietnam stands ready to discuss with the US to address issues emerging in trade, Spokeswoman of the Ministry of Foreign Affairs Le Thi Thu Hang said today. Vietnam has always worked with the US through existing mechanisms, including Trade and Investment Framework Agreements (TIFAs), to boost trade and investment for the sake of businesses and people of both sides, Hang shared the view at the press conference on August 11. Warehouse storage of steel products in Vietnam. Photo: VNA On August 8, the US Department of Commerce (DOC) issued an official notice on the initiation of an investigation into trade remedy evasion with respect to a number of steel pipe products imported from Vietnam. According to ASL law firm , Large US steel pipe producers asked the US to launch an investigation after learning that Vietnam was importing Hot Rolled Steel … [Read more...] about Vietnam willing to work with US on emerging issues: Spokeswoman

Vietnam has been recording over 571,000 new Covid-19 cases a week on average, which is only behind South Korea (713,000 cases), the U.S. (760,000 cases) and Japan (1.4 million cases), according to a World Health Organization report. But the report did not mention Vietnam among countries with top Covid deaths. The WHO said the high numbers of recorded cases in Vietnam were partly because of extra data provided by certain localities, which were recorded since February. Over the past week, the northern port city of Hai Phong added another 402,830 cases to its tally and the northern province of Thai Nguyen added another 152,485 cases, the Ministry of Health said. Vietnam records around 2,000 new Covid-19 cases a day on average over the past week, the ministry added. There has been a spike in the number of new Covid-19 cases as reported on Thursday, with 6,775 new cases, which is three times that of the average number of new cases recorded in the previous week, the ministry said. … [Read more...] about Vietnam has 4th highest number of weekly Covid cases worldwide: WHO

Foreign tourists visit the Independence Palace in HCM City on August 8. (Photo: VNA) HCM City (VNS/VNA) - Strict visa policies and a shortage of human resources and infrastructure in the tourism sector have stymied recovery of the travel industry, and the target of five million international arrivals this year could be out of reach, industry players have warned. Domestic travel has seen a strong rebound whereas international tourism, with a target of five million arrivals this year, remains in a slump, said Vu The Binh, Chairman of the Vietnam Tourism Association. Domestic visitor numbers topped 71.1 million in just the first seven months of this year against a full-year target of 60 million, he said. In the same period there were only 733,000 international visitors, or 8% of pre-pandemic numbers, he told a two-day programme titled ‘Lien Ket Suc Manh Du Lich Vietnam Nam 2022’ (Power of Vietnam Tourism Linkages) that ended in Ho Chi Minh City on August 9. Though … [Read more...] about Vietnam mulls ways to boost inbound travel

Illustrative image (Photo: AFP) Hanoi (VNA) – Spokeswoman of the Vietnamese Ministry of Foreign Affairs Le Thi Thu Hang has stated that Vietnam is closely keeping a close watch on the situation in the Taiwan Strait. At the ministry’s regular press conference in Hanoi on August 11, Hang affirmed Vietnam’s consistent stance on the Taiwanese issue, which, she said, has been clearly reflected in common documents reached during high-level visits by Vietnamese and Chinese leaders. She confirmed Vietnam’s viewpoint that peace, stability and cooperation in the Strait hold significance to the region and the world amid regional and international complicated developments. On the basis of persistently following the 'One China' principle, Vietnam wants parties concerned to exercise self-restraint, prevent increasing tensions in the Taiwan Strait , making positive contributions to maintaining peace and stability, and promoting cooperation and development in the region and the … [Read more...] about Vietnam closely monitors situation in Taiwan Strait: Spokeswoman

Swift247, a subsidiary of low-cost airline Vietjet Air, has launched an international super-fast delivery service which will operate between the Republic of Korea (RoK) and Vietnam based on digital technology platforms. Swift247 service point in Ho Chi Minh City (Photo: Swift247 ) The debut of the express delivery service took place as part of ongoing co-operation programmes between Vietjet Aviation Joint Stock Company and numerous freight companies in the RoK, including Daejoo Air and Ilyang Logis. Through this service, customers will easily deliver goods from the RoK to Vietnam through the Swift247 application which boasts a modern and user-friendly application interface. In addition, the application is integrated with order tracking, enabling users to track the delivery of the parcels in a clear and coherent manner. Most notably, customers will be able to place orders via the app and utilise Vietjet Air's flight network in order to help shorten … [Read more...] about Swift247 launches super-fast delivery service between RoK and Vietnam

Ngo Khai Hoan, Deputy Director of the Vietnam Industry Agency Ngo Khai Hoan, Deputy Director of the Vietnam Industry Agency: Industrial production recovers strongly With the government’s decision to switch from “Zero COVID-19” to safe and flexible adaptation to the pandemic, industrial production has seen strong recovery and has been restored to pre-pandemic levels, especially the manufacturing and processing sector. The added value of the industrial sector increased by 8.48 percent in the first half of 2022 compared to a year ago. The index of industrial production (IIP) grew by 8.7 percent in the first half of the year, with the manufacturing and processing sector going up by 9.7 percent. Almost all localities saw IIP increases, with high rates recorded in the provinces of Bac Giang, Bac Ninh, Quang Nam and Binh Phuoc. --------------------------------------------------------------------------- Tran Duy Dong, Director of the Domestic Market Department … [Read more...] about First-half industry and trade highlights

A scene of the MV featuring Ninh Binh's Trang An complex. (Photo: VNA) Hanoi (VNA) – Vietnam looks stunning in a music video “ Waiting for You – 5 , 000 Years ” newly released by Republic of Korean singer and composer Joseph Kwon to mark the 30th anniversary of the diplomatic relations between the two countries (December 22, 1992 – 2022). A press conference took place in Hanoi on August 10 to launch the new MV with Deputy Director General of the Vietnam National Administration of Tourism Ha Van Sieu in attendance. Sieu said he appreciates Kwon for his love for Vietnam’s nature, people and culture, stressing his brilliant MV makes the beauty of Vietnamese tourist destinations shine through and expecting the MV will promote Vietnam’s landscapes globally. According to Kwon, for almost two months, he and his production team have travelled to numerous popular destinations across Vietnam, from Hanoi, Cuc Phuong National Park and Trang An (Ninh Binh), Tam Chuc (Ha Nam), … [Read more...] about RoK singer shows love for Vietnamese destinations in new MV