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Foreign investors poured nearly US$1.7 billion into Vietnam as of January 20. In the first month of 2023, newly-registered capital is estimated to have increased 3.1 times over the same period last year, showing that foreign investors still maintain confidence in Vietnam's investment environment. Hanoi ranks among the top localities in foreign direct investment (FDI) in 2022. Photo: Thang Long Industrial Park The Foreign Investment Agency under the Ministry of Planning and Investment reported that there were 801 newly-registered projects totaling $1.2 billion and 89 projects increasing capital with a combined amount of $306.3 million. In addition, 204 transactions of share purchases by foreign investors were worth $174 million, representing a year-on-year decline of 60.7%. Meanwhile, the disbursement of foreign investments dropped by 16.3% to $1.35 billion. The agency attributed the decrease in registered and disbursed FDI to the national holiday (the … [Read more...] about Foreign investors remain confident about Vietnam’s business environment

Deputy Minister of Foreign Affairs Ha Kim Ngoc (Photo: VNA) Hanoi (VNA) - After a year implementing the strategy on cultural diplomacy to 2030, issued by the Prime Minister in November 2021, Vietnam has achieved marked results in the field, helping promote its relations with other countries across all channels of the Party, Government, National Assembly, and people, affirmed Deputy Minister of Foreign Affairs Ha Kim Ngoc. In an interview granted to the Vietnam News Agency, the official noted that Vietnam has focused on including the cultural content into the activities of high-ranking leaders during their overseas trips and the country’s reception of foreign leaders; and on promoting deep and wide integration in the fields of culture, science and education at international forums. According to him, Vietnam hosted significant regional and international conferences and events last year, including the 31st SEA Games and the Vietnam day programme in the Republic of Korea, … [Read more...] about Cultural diplomacy raises Vietnam’s position worldwide

The Republic of Korea (RoK) topped the list of countries and territories with most foreign visitors to Vietnam in January 2023, the General Statistics Office of Vietnam (GSO) announced on January 29. Located in central Vietnam, UNESCO-recognised Hoi An is one of the major tourist attractions for Korean visitors. (Photo: travelelog.com) According to data released the GSO, Vietnam welcomed 258,000 Korean arrivals in January, representing a 13-fold increase month on month and a 72fold increase year on year. The RoK was followed by the United States (nearly 78,000 arrivals), Thailand (55,000), Australia (44,225) and Malaysia (37,267). Besides, Japan, Cambodia, Singapore, Taiwan (China) and the United Kingdom were all countries and territories with large numbers of tourists to Vietnam in the first month of 2023. The GSO reported Vietnam attracted 871,200 foreign arrivals in January 2023, an increase of 23.2% over the previous month and 44.2 times higher than the … [Read more...] about RoK tops list of countries with most foreign visitors to Vietnam

Dawn breaks over Da River lake.(Photo: VietnamPlus) Hanoi (VNA) - As vaccination coverage is expanding, the severity of the SARS-CoV-2 virus is showing signs of dying out. As a result, Vietnam’s tourism needs to quickly work out harmonious measures for the coming period of recovery. A sad economic year for the tourism sector has come to an end after many tremors caused by successive outbreaks of COVID-19 . Vietnam’s green economy in 2021 failed to recover as seen through the statistics of the yearly review, yet many experts still believe that in 2022, accelerations will be created with attention and assistance from the government. Although the pandemic is still spreading with new variants, there are grounds for us to hope the constantly expanding vaccination coverage has helped weaken the severity of the SARS-CoV-2 virus. The clock is ticking towards the day when the world can contain and roll back the pandemic, opening up chances for socio-economic recovery. That is … [Read more...] about Vietnam’s tourism in 2022: measures for recovery, acceleration

Authorities in Quang Tri Province, located in north-central Vietnam, have granted a certificate of merit together with a cash bonus to the creator of a graceful cat mascot statue, called the ‘Miss Cat’ by netizens, used to celebrate the 2023 Lunar New Year (Tet), which is the Year of the Cat. Dinh Van Tam, a 32-year-old local man, who made the charming artistic work, received the provincial government’s certificate of merit, together with a bonus of VND20 million (US$852), from Ha Si Dong, standing deputy chairman of the Quang Tri administration, on Friday. Since the cat mascot statue was put on display at the square of the province’s Trieu Phong District on January 15, tens of thousands of people have flocked there for viewing and photographing during the past seven-day Tet holiday, from January 20 to 26, district authorities said. The cat statue has also caused great excitement to social media communities, who have honored it as the ‘Miss Cat,’ as it is considered truly … [Read more...] about Certificate of merit awarded to Tet cat mascot creator in Vietnam’s Quang Tri Province

According to its latest report on Southeast Asia, HSBC said Thailand will benefit the most from China’s reopening. It said further that tourism in Vietnam was also expected to perform well as Chinese tourists account for some 30% of international arrivals to the country. This month Khanh Hoa Province is expected to have nine charter flights which will bring Chinese visitors to Vietnam after a 3-year suspension due to the pandemic. Hotels in Hoi An, in the central province of Quang Nam, have also received bookings from Chinese tourists. Regarding trade, since 2020 ASEAN has surpassed the E.U. to become China’s largest trading partner. Last year Vietnam was one of three Southeast Asian countries, along with Indonesia and Malaysia, reporting increases in exports to China. Vietnam is also benefiting from more favorable trade ties with China because exports no longer have to undergo strict Covid testing. Concerning FDI, Japan and South Korea are the leading countries in terms of … [Read more...] about Vietnam’s tourism, trade, FDI rosy amid China’s reopening: HSBC

Shipments declined 18.3% year-on-year in the December quarter to a little over 300 million units, U.S.-based International Data Corporation said Thursday. Xiaomi’s shipment volume declined steepest at 26.3%, followed by vivo (down 18.9%) and OPPO (down 15.9%). For the year, global shipments fell 11.3% and marked the lowest total for a decade, the researchers said. "We have never seen shipments in the holiday quarter come in lower," Nabila Popal, research director at IDC, said in a press release as reported by Bloomberg . Along with inflation and economic uncertainties, Covid lockdowns in China were another factor that hurt the industry, including sales of Apple Inc.’s iPhone, she said. "Heavy sales and promotions during the quarter helped deplete existing inventory rather than drive shipment growth." Smartphones are among the largest exports for Korea and a key source of income for Vietnam as Samsung Electronics operates factories in both countries. Samsung last … [Read more...] about Global smartphone shipment slowdown could hurt Vietnam

Vietnam remains an attractive destination for foreign investors (Photo: VNA) Hanoi (VNA) - According to the Foreign Investment Agency under the Ministry of Planning and Investment (MPI), Vietnam is likely to attract 36-38 billion USD in foreign direct investment (FDI) in 2023. The figure was nearly 22.4 billion USD in 2022. Deputy Director of the FIA Do Van Su said disbursement of foreign investment this year is expected to hit 22-23 billion USD,. Su acknowledged that the opening of China’s economy might affect Vietnam's foreign investment attraction, adding that China remained the leading investment destination in the region, so when they opened up, capital will flow into this market while that to Vietnam and other economies in the region will be limited. On the contrary, the investment capital movement of the Republic of Korea (RoK) , Japan, and Taiwan (China) will be accelerated. This shift will be accelerated until 2025, and Vietnam will be a preferred investment … [Read more...] about Vietnam’s FDI projected to reap up to 38 bln USD in 2023

Themed “With all and for the good of all,” the event was one of the activities honoring Cuban national hero José Martí on the occasion of his 170th birth anniversary (January 28), with over 1,100 delegates from 87 countries globally taking part. This world forum of plural and multidisciplinary thought is convened by the José Martí Project for World Solidarity every three years, enabling hundreds of professors, social activists and intellectuals in general, from all latitudes of the planet, to reflect on the main contemporary problems. As the first guest to address the opening ceremony, Tuan underlined that together with the people across the globe, the Vietnamese people always aspire to live in a world of peace, democracy with the long-term goal of wealthy people, strong country and a democratic, fair and civilized society. In order to build a better world, the Vietnamese delegation suggested further strengthening the role of the legislature and lawmakers in fine-tuning laws; … [Read more...] about Vietnam attends fifth International Conference For World Balance

Jiří Pos, Chairman of the Board of Prague Airport said that the airport is considering the launch of flights from Prague to Vietnam, by partnering with either Vietnam Airlines or Bamboo Airways. There could also be another round of talks with Qatar Airlines in February for a route to Doha, he added. The airport is negotiating the renewal of the route to Newark with United Airlines. Discussions are also taking place with American Airlines about restoring the route to Philadelphia. Pos said that the airport is talking to some US partners about a direct service connecting Prague and Chicago, adding that the airport also hopes to resume direct flights to Canada, specifically to Toronto and Montreal with potential partners being Air Canada or Air Transat. At the same time, Prague Airport is also interested in destinations in Asia, including China, India, Japan, Singapore, the Republic of Korea, and Mongolia, along with destinations in Europe, he revealed. Before the COVID-19 … [Read more...] about Prague Airport wants to open direct air routes to Vietnam