VietNamNet Bridge - Vietnam has one of the highest proportions of import/export turnover to GDP in the region, over 180 percent. The growth of import/export turnover is considered an important target Analysts and policymakers point to the close relations between foreign trade and economic growth, saying that the growth of import/export turnover is considered one of the most important targets by the National Assembly. Vietnam’s proportion of import/export turnover to GDP is higher than the 120 percent of Thailand and Malaysia, and higher than the 40 percent of China, which has been the fastest growing economy in the world in the last four decades. Pham Van Dai, an analyst, in his article in Thoi Bao Kinh Te Sai Gon, pointed out that Vietnam is an outsourcing economy with limited domestic input materials (mostly natural resources such as land, water sources, minerals and cheap labor force). RELATED NEWS Oil & gas loses the ‘throne’ as the biggest … [Read more...] about What is a suitable growth rate of foreign trade for Vietnam?
Viet Nam’s tourism industry is booming and is fast becoming the driving force behind economic growth – but it also faces calls for reform to keep up with high standards. Customers at Noi Bai’s international airport in Ha Noi. Airports in major cities such as HCM City, Hue and Da Nang, are facing the overload trouble. The “smoke-free” industry has witnessed spectacular success in the past few years with higher growth rate every year. Last year, nearly 13 million foreign visitors came to our shores, earning the country more than VND500 trillion (US$22 billion). That’s up 30 per cent and 20 per cent year-on-year, respectively. Over the decade, the number of international visitors to Viet Nam has tripled while revenue has increased by nine times. Viet Nam’s tourism ranked sixth in the top 10 fastest growing tourism destinations globally and was crowned the best performer in Asia in 2017. The industry last year contributed 7.5 per cent to … [Read more...] about Vietnam’s tourism needs urgent reform to take off
Ly Hoang Nam practises in Hanoi to prepare for the Davis Cup (Photo: VTF) Hanoi (VNA) – Vietnam target a berth in the higher group when they take part in the Davis Cup, Asia/Oceania Zone Group III competition next week. The national team includes some of the strongest athletes — World No 465 Ly Hoang Nam, national champion Pham Minh Tuan, rising star Trinh Linh Giang and veteran player Le Quoc Khanh under captain Truong Quoc Bao and foreign trainer Tanveer Ashiq. They took their first training in Hanoi on March 27. “They are currently the best players, and with the advantage of the home turf, we hope to be promoted to Group II next season,” said Bao. This is the first time such a major tournament is being organised in the capital after four previous editions in HCM City. The tournament will see nine teams divided into nine groups. Vietnam, with a world ranking of 67, are the top seed in Pool A, while Kuwait, World No 73, are the top seed in … [Read more...] about Vietnam expect promotion in Davis Cup
The 22nd Ministerial Conference on "Greater GMS achievements through stronger and pragmatic cooperation" hosted by Vietnam in September, 2017. (Photo: VNA) Hanoi (VNA) – Vietnam has actively taken part in developing initiatives for enhanced cooperation within the Greater Mekong Sub-region (GMS) to boost economic growth, strengthen economic connectivity and aid poverty reduction effort in the region. The GMS comprises of Cambodia, China (Yunnan and Guangxi provinces), Laos, Myanmar, Thailand and Vietnam. In 1992, the six countries entered into a programme of sub-regional economic cooperation, designed to enhance economic relations among the countries, as an initiative of the Asian Development Bank (ADB). Priority fields include infrastructure development, energy, telecommunications, tourism, trade-investment, human resources, and the environment. As of December 2017, about 6 billion USD has been poured into GMS cooperation projects in Vietnam, representing 30 percent of the … [Read more...] about Vietnam active in pushing for enhanced GMS cooperation
The Vietnam-Italy Autumn-Winter Fashion Week takes place in Hanoi from March 14-19, as part of the activities to mark 45 years of the diplomatic ties between the two countries, designer Minh Hanh, and member of the organizing board, stated on March 14. A designed by Minh Hanh - Photo: hanoimoi.com.vn Themed “Sustainability”, the fashion week is not only a kaleidoscope of fashion collections but also serves as a link to connect the cultural values of both nations, making contributions to promoting the friendship and bilateral cooperative ties, she noted. The latest collections of 18 Vietnamese and Italian designers, including Minh Hanh, Phuong Thanh, Nhi Hoang, Michele Gaudiomonte and Bianco Levrin, were on show at Dien Hong Garden, in the downtown district of Hoan Kie from March 17-19. An exhibition highlighting the process of making Vietnamese traditional silk was also included in the event. Artisans from Van Phuc village (Hanoi), Nha Xa village (Ha Nam … [Read more...] about Fashion week celebrates 45 years of Vietnam Italy diplomatic ties