Vietnam tourism development

Vietnam officially set up diplomatic relations with Trinidad and Tobago on Wednesday, taking the number of countries that Hanoi has diplomatic ties with to 192. According to the Ministry of Foreign Affairs, Ambassadors Dang Hoang Giang and Dennis Francis Smith, heads of the delegations of Vietnam and Trinidad and Tobago, respectively, to the United Nations (UN), signed a joint communiqué on the diplomatic tie establishment on behalf of the two governments at the UN headquarters in New York. The two sides agreed to exchange diplomatic representatives at the ambassadorial level under the 1961 Vienna Convention on Diplomatic Relations. On the same day, the joint communiqué was sent to UN Secretary General Antonio Guterres for circulation and to UN member countries for information. With the diplomatic ties with Trinidad and Tobago, Vietnam has had official diplomatic relations with all 35 countries in the Americas and 190 out of the 193 member countries of the UN, proving the … [Read more...] about Vietnam establishes diplomatic ties with Trinidad and Tobago

During the year, Vietnam’s exports to India topped 7.9 billion USD, up nearly 27% year-on-year. Among its export items , mobile phones and accessories posted the highest turnover with 1.5 billion USD. Computers, electronics and parts came next, and they were followed by machinery and equipment. Other staples with the highest value increase were coffee, iron and steel and footwear. Meanwhile, Vietnam imported over 7 billion worth of goods from India last year, a yearly hike of 2%. Its major import commodities from the market were iron and steel with nearly 775 million USD, machinery and equipment and ordinary metals. India is Vietnam’s leading provider of aquatic, garment and textile, leather and pharmaceutical materials. The 1.4-billion-strong Indian market has diverse demands with various market segments - a good condition for Vietnamese exporters. Besides trade, bilateral cooperation in tourism and investment also grew with the resumption and launch of direct … [Read more...] about Vietnam’s trade with India hits record in 2022

Many banks in Vietnam have released their business results in 2022, which indicate their hefty profits. According to the 2022 financial report of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), it recorded a pre-tax profit of over VND37.3 trillion (US$1.59 billion), up 36 percent year on year and exceeding its 2022 target. With this result, Vietcombank has taken the lead in pre-tax profit in the entire banking system for five consecutive years. It was followed by Vietnam Technological and Commercial Joint Stock Bank (Techcombank), which earned over VND25.5 trillion (nearly $1.09 billion) last year, rising 10 percent compared with the preceding year. Last year was the ninth straight year that Techcombank had posted a profit growth rate, albeit at a modest rate. Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) was also among the banks with a high profit. Its pre-tax profit surged more than 70 percent to nearly VND23 … [Read more...] about Banks in Vietnam report handsome profits in 2022

The Ho Chi Minh City Stock Exchange (HoSE) on Thursday warned that Vietnam Airlines (HVN) could be delisted if an audit proves the company has logged an operating loss for three consecutive years. In its warning, the HoSE cited the firm’s consolidated financial statement for the last quarter of 2022 in which Vietnam Airlines posted an accumulated loss of nearly VND34.2 trillion (US$1.46 billion) in 2022. The carrier also reported that its equity was negative VND10.2 trillion ($435.4 million) last year. According to the Law on Securities, the stock of a public company must be delisted if it suffers annual operating losses for three consecutive years, if its accumulated losses exceed its charter capital, or if its equity is negative. As such, if Vietnam Airlines' audited consolidated financial statement for 2022 shows a loss, it will be the firm’s third consecutive year of operational losses and its ticker will be delisted, the HoSE warned. On June 1, 2022, the HoSE issued a … [Read more...] about Vietnam Airlines risks stock delisting

Addressing the event, Sieu said member countries’ tourism reopening last year signified a strong recovery of the sector. Vietnam welcomed 3.5 million international visitors in 2022, with ASEAN named the country’s leading tourist market in terms of recovery speed, he added. The official affirmed that Vietnam always welcomes proposals from ASEAN member states to learn, share and explore the potential for further cooperation in the field of festival tourism. In the second half of this year, Vietnam plans to organize a regional conference on festival tourism, he unveiled. The conference focused on reviewing reports of the bloc’s four tourism cooperation committees, and approving a number of documents including the final drafts of standards and toolkit for the MICE (Meetings, incentives, conferences and exhibitions) and event organization profession, among others. Participants also discussed preparations for a series of functions such as the 26th ASEAN Tourism Ministers’ Meeting; … [Read more...] about Vietnam attends meeting of ASEAN National Tourism Organizations

In an interview granted to the Vietnam News Agency’s correspondents in Vientiane, Boviengkham Vongdara, member of the Central Committee of the Lao People's Revolutionary Party (LPRP), Minister of Science and Technology of Laos, and President of the Laos - Vietnam Friendship Association (LVFA), highlighted Vietnam's major achievements under the CPV leadership through different periods, including the declaration of independence in 1945, the victories against the French colonialists and the U.S. imperialists between 1945 and 1975. He also spoke highly of the reunification of the country in 1975, and the post-war national construction and recovery after 1975. He said that the most outstanding success of the Party is its leadership over the “Doi Moi” (Renewal) cause, switching from a subsidized economic model to a socialist-oriented market economy, helping bring the country’s economy into the contemporary era. He noted that last year, despite COVID-19 impacts and difficulties from the … [Read more...] about Lao official highlights Vietnam’s successes under CPV leadership

Hanoi, (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency. -The Presidential Office on February 3 announced the Acting President’s order to promulgate the Law on Medical Examination and Treatment that was adopted by the 15th National Assembly at its second extraordinary session. The revised law aims to deal with shortcomings and emerging problems in medical examination and treatment activities in a bid to develop and improve the quality of medical services towards fairness, high efficiency, development and international integration, while strengthening State management over these activities. Read full text -A delegation of the Communist Party of Vietnam (CPV) Central Committee, the Presidency, the National Assembly, the Government and the Vietnam Fatherland Front (VFF) Central Committee on February 3 paid floral tribute to President Ho Chi Minh at his mausoleum in Hanoi on the occasion of the 93rd founding anniversary of the CPV … [Read more...] about ☕ Afternoon briefing on February 3

-What do you think about local garment firms’ inability to dominate the domestic market of 100 million people here in Vietnam? - Vietnamese textile and garment enterprises are still [only beginning to] tap the domestic market. Last year, the domestic market increased by 40% against 2021. Local enterprises performed very well in the first half of last year and began to face difficulties in the third quarter. In the fourth quarter, many good Vietnamese brands like Viet Tien saw sales decrease. In late 2022, the Vinatex Fashion Center retail outlet in Hanoi made revenues of only VND500-600 million ($21,200-25,400) a day, compared with daily revenues of over VND1 billion in previous years. Over the past two years, many domestic fashion brands have reduced their number of stores and limited new openings. They have had to focus on certain locations to reduce costs, optimize operations and try to offer products that are most suitable to consumers’ incomes.In fact, domestic … [Read more...] about Garment firms should tap niche markets: Vinatex chairman

Representatives of AstraZeneca Vietnam and doctors from Cho Ray Hospital at the co-operation MoU signing ceremony between the two sides in HCM City on Thursday. — Photo Courtesy AstraZeneca Vietnam AstraZeneca Vietnam and Cho Ray Hospital on Thursday signed a memorandum of understanding (MoU) to deepen the medical knowledge of healthcare workers and better serve the needs of patients in HCM City and the southeast region of Viet Nam during 2023-25. The three-year agreement will enhance the implementation of clinical trials, medical workforce training, patient support programmes and further international integration activities of Cho Ray Hospital, indirectly boosting the level of expertise at hospitals and clinics in the region. The comprehensive collaboration will cover a variety of therapeutic areas such as oncology; respiratory and gastrointestinal diseases; cardiovascular, renal and metabolism; and vaccines and immune therapies. Nitin Kapoor, Chairman and General Director … [Read more...] about AstraZeneca, Cho Ray Hospital partner to strengthen healthcare innovation in Viet Nam

The rendering of Lai Xuan Bridge. (Photo: nhandan.vn) Hai Phong (VNA) - The northern port city of Hai Phong commenced construction on Lai Xuan Bridge, connecting it with Quang Ninh province across Da Bach River, with a ceremony on February 2. The 1.33 trillion VND (56.9 million USD) project also includes the upgrade and expansion of a 14km-long provincial road linking Hai Phong’s Thuy Nguyen district and Quang Ninh’s Dong Trieu town. The project is part of a cooperation programme on comprehensive development that the two localities signed in 2009. Lai Xuan Bridge will be 840m long and 12m wide while provincial road 352 will have its width expanded to 12m to match the bridge. According to Hai Phong officials, Lai Xuan Bridge and the upgraded road will enhance transport connectivity between Hai Phong and Quang Ninh and promote local socio-economic development. The project is scheduled for completion in 2024./. VNA … [Read more...] about Work begins on bridge linking Hai Phong and Quang Ninh