The popularity of Hoi An, which has been a top tourist destination in Vietnam for decades now, continues go grow. It’s latest accolade and landmark achievement is making it to second place on the list of 10 safest and most exciting places on this earth for solo travelers compiled by travel editors at Momondo, a U.K. based travel site. The travel search site finds and compares the best offers on flights, hotels, car hire and package holidays for travelers. Unlike Ho Chi Minh and Hanoi, the two biggest cities in Vietnam that are flooded with waves of noisy vehicles and modern skyscrapers, Hoi An casts a spell over backpackers for its tranquility and slow pace of life, the site said. “Motorbikes are banned in the town center, so take a stroll past the yellow houses with their old red-tiled roofs and admire the street-side cafes and picturesque historical homes lining canals and winding alleyways,” the site gushes. It’s best to cycle to the pristine beach An Bang, … [Read more...] about Vietnam’s Hoi An a top draw for solo travel
Local business environment lacks robust reforms
The local business environment has not witnessed strong reforms although the Government has made efforts to improve the same over the past years, according to experts. Representing the business community, Dau Anh Tuan, head of Legal Affairs under the Viet Nam Chamber of Commerce and Industry, said the Prime Minister had expressed his willingness to improve the investment environment but not many ministries reciprocated. Therefore, not many reforms were introduced in the administration. Tuan said the Government’s policies over the past years had reduced costs, creating favourable conditions for businesses to operate. However, recent proposals on law and policies have had the trend to increase tax rates, including value-added tax, special consumption tax, natural resource tax, personal income tax and corporate income tax. Some localities also charge a fee for infrastructure and seaports. These are creating problems for the business community, he added. Assessing the business and … [Read more...] about Local business environment lacks robust reforms
Textile, garment export markets grow
Viet Nam witnessed a growth in textile and garment exports to most of the major markets in the first five months of 2018, reported the General Department of Viet Nam Customs. Exports of textiles and garments to the markets of the member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) accounted for 17.1 per cent of the country’s total garment export turnover, reaching US$1.87 billion. Of this, the exports to Japan saw the highest increase at 22.6 per cent, reaching $1.39 million. The exports to Singapore rose by 22 per cent to $39.16 million, to Canada by 17.4 per cent, reaching $230.29 million and to Australia by 16 per cent, touching $79.41 million. CPTPP will come into effect in early 2019 and is expected to open a great opportunity for the Vietnamese textile and garment industry, pushing its export value up by 3 to 6 per cent per year. According to the General Department of Viet Nam Customs, the January-May period saw the national … [Read more...] about Textile, garment export markets grow
Volunteers march for green rights in HCMC
Viet Nam News HCM CITY — The HCM City Communist Youth Union’s 12th Hành quân xanh (Green March) Volunteer campaign kicked off yesterday in HCM City. Members of the Hồ Chí Minh Communist Youth Union in the armed forces and Fire-Fighting and Prevention Police Department are volunteering for activities that contribute to the social development of the city. The HCM City summer campaign includes youth union members and young adults from organisations such as Việt Nam Border Defence Force, HCM City Fire Fighting and Prevention Police Department, and police departments from all over HCM City. The campaign, which has around 18,000 members, will conclude on August 12. Doãn Trường Quang, commander of the 12th Hành quân xanh Volunteer campaign, said the campaign provides members with opportunities to use their skills for the development of the city and promote the image of young adults helping the … [Read more...] about Volunteers march for green rights in HCMC
Việt Nam remaining a frontier market: MSCI
Viet Nam News HÀ NỘI – Morgan Stanley Capital International (MSCI) has decided to hold Việt Nam’s status in the equity market in the Frontier Markets Index until 2019. It means Việt Nam will remain in the MSCI Frontier Markets Index for at least two more years before being given a chance to raise its status from a frontier market to an emerging market. In its latest report, MSCI announced it included the MSCI Saudi Arabia Index in the MSCI Emerging Markets Index and the reclassification of the MSCI Argentina Index from Frontier Markets to Emerging Markets status beginning June 2019. More importantly, MSCI disclosed the inclusion of the MSCI Kuwait Index in the 2019 Annual Market Classification Review for a potential reclassification from Frontier Markets to Emerging Markets status. The decision was made on June 21. According to MSCI, the promotion of the Vietnamese equity market would depend largely on the improvement of eight items: foreign … [Read more...] about Việt Nam remaining a frontier market: MSCI