Vietnam parenting

Vietnam was the 8th largest trade partner and the largest ASEAN exporter of the US in 2022. (Photo: VNA) Hanoi (VNA) – The current trends in economic and trade cooperation between Vietnam and the US guarantee big growth in two-way trade and investment in next 10 years and warrant upgrading the partnership to a strategic level, said Ted Osius , President and CEO of the US - ASEAN Business Council ( USABC ). In an interview granted to the Vietnam News Agency ahead of the 10th anniversary of the two countries’ comprehensive partnership (July 2013 - 2023), the former US Ambassador to Vietnam said trade and investment play a big role in this relationship. The US is Vietnam’s second largest trading partner and biggest export destination. In 2022, bilateral trade reached a record high of 138.9 billion USD. Vietnam was the 8th largest trade partner and the largest ASEAN exporter of the US. The US was the biggest export market of Vietnam last year. Vietnam’s annual export to … [Read more...] about Current trends guarantee big growth in Vietnam – US trade, investment: USABC leader

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

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

VCCI Vice Chairman Nguyen Quang Vinh speaks at the forum. (Photo: VNA) Hanoi (VNA) - A Child Rights and Business Forum was organised in Hanoi on May 30 by UNICEF Vietnam and the Vietnam Chamber of Commerce and Industry ( VCCI ), emphasising the need for responsible business practices that respect child rights and prevent adverse human rights impacts. “Children are both the present and the future, and business practices cannot be sustainable if they do not account for their impact on children”, said Rana Flowers, Representative of UNICEF in Vietnam. “It requires children to be a key consideration in Environmental, Social, and Governance (ESG) assessments – where impacts and risks are assessed objectively, and key practices identified that can minimise those risks and create a positive impact for children. It will improve competitiveness and sustainability, it will win the support of stakeholders, especially investors, who are socially conscious and looking at ESG risks … [Read more...] about Responsible businesses for Vietnam’s thriving next generation: forum

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

Illustrative image (Photo: VNA) Hanoi (VNA) – The Ministry of Industry and Trade held a meeting with Vietnam Trade Offices abroad on May 31 to discuss ways to boost the exports of lychees and longans as many northern localities are harvesting the fruits. total lychee production is estimated at a record of over 180,000 tonnes this year. The harvesting period is scheduled from May 25 to July 30. Vietnam Trade Offices abroad were assigned to closely follow the market situation, trade policies and export requirements for key commodities, thus providing timely advices for the ministry’s leaders to support localities, associations, and businesses. VNA … [Read more...] about Vietnam seeks to expand overseas markets for lychees, longans

A Vietnam Airlines aircraft (Photo: VNA) Hanoi (VNA) - Vietnam Airlines Group , which comprises Vietnam Airlines, Pacific Airlines and Vietnam Air Services Company ( VASCO ), has announced that to meet travel demand in the summer travel season, it will offer more than 7.3 million seats on domestic and international routes from June 1 to August 8. In the peak period of these months, there will be nearly 500 flights operated by the group per day, 30% greater than usual level. The busiest routes are those connecting Hanoi and Ho Chi Minh City with popular destinations such as Da Nang, Hue, Quy Nhon, Nha Trang, Da Lat and Phu Quoc as well as linking Vietnam to Japan, the Republic of Korea, Thailand. The three carriers are recording a rapid increase in bookings, with many flights during the peak travel season already filled having over haft of their seats occupied. They recommended passengers check in online, arrive at the airport two hours before departure for … [Read more...] about Vietnam Airlines Group to provides 7.3 million seats this summer

Around 9,000 Cambodian tourists have visited Phu Quoc Island off Kien Giang Province in southern Vietnam since the beginning of this year, marking Cambodia as a potential market for the island this summer. “Phu Quoc has a beautiful beach scene and a bustling night market with lots of foods and souvenirs,” said Danh Sang, a Cambodia tourist. “My family and I really enjoy being here. “Phu Quoc is truly a pretty and attractive destination.” According to the Kien Giang Department of Tourism, the province is estimated to have welcomed more than 4.9 million visitors, including over 354,992 from abroad, since early this year. The number of Cambodian tourists reached about 9,145, much higher than before. According to Tran Quoc Khanh, chairman of the Kien Giang Tourism Association, Cambodia is a potential international market for the island during this summer as the number is still on the rise. Among the efforts to attract more tourists from the potential market, the Kien Giang … [Read more...] about Vietnam’s Phu Quoc Island emerges as attractive destination to Cambodians

One man died and at least two others were injured after a truck slammed into multiple motorcycles which were stopping at a red light in Binh Duong Province, southern Vietnam on Tuesday evening. The fatal crash took place on a My Phuoc-Tan Van Road section in the provincial city of Thuan An at around 7:00 pm, when the truck was en route from Thuan An Hoa Street to My Phuoc-Tan Van Road. The truck driver was identified as Ha Dinh Be, 43, residing in the provincial city of Tan Uyen. At the scene of the accident, three damaged motorcycles were found lying in front of the truck. One of the victims, identified as Tran Chi Cuong, 20, a native of northern Nam Dinh Province, was crushed to death by the truck. Meanwhile, Mai Van Han, 36, residing in Binh Duong, and Pham Ngoc Thuy, 43, a native of north-central Quang Binh Province, were injured and rushed to a nearby hospital for emergency treatment. The truck also hit a tractor-trailer, leaving both damaged. Police are … [Read more...] about 1 killed, 2 injured as truck hits vehicles at red light in southern Vietnam

Australian Prime Minister Anthony Albanese will pay an official visit to Vietnam on Saturday at the invitation of Vietnamese Prime Minister Pham Minh Chinh, according to the Ministry of Foreign Affairs. This will be his first visit to Vietnam since he took office in 2022. The Australian prime minister’s visit will be made two months after Australian Governor-General David Hurley’s state visit to Vietnam. His two-day visit is aimed at marking the 50th anniversary of diplomatic ties between Vietnam and Australia. Australian Prime Minister Albanese will meet several top Vietnamese officials during his trip, said the Australian Embassy in Vietnam. “The leaders will come to the table about measures to deepen the partnership in trade, investment, education, energy, and environmental protection," the embassy said. “Vietnam is one of Australia’s key strategic economic partners in Southeast Asia, which is a focus of Australian Prime Minister Albanese." “My first official visit to … [Read more...] about Australian prime minister to visit Vietnam this weekend