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The Hanoitimes – IFC will work with Hanoi to formulate a new-generation FDI strategy in response to the government’s master plan on foreign investment promotion toward 2030.

IFC, a member of the World Bank Group, today [June 27] signed a memorandum of understanding (MoU) with the People’s Committee of Hanoi to support its efforts to attract new-generation foreign direct investment (FDI) and diversify its funding sources, thereby sustaining the city’s rapid economic development, competitiveness, and inclusive prosperity.

IFC will work with Hanoi to formulate a new-generation FDI strategy. Photo: Nguyen Tung.

As one of the fastest growing cities in Asia and home to over eight million inhabitants, Hanoi accounts for one-fifth of Vietnam’s gross domestic product (GDP).

Hanoi attracted US$8.45 billion in FDI in 2019, highest among the country’s 63 cities and provinces. Three areas namely property development, processing and manufacturing, and telecommunication and information drew the largest shares of FDI.

To sustain robust socioeconomic development, Hanoi aims to attract higher-quality streams of FDI. This will support the city’s strategy of developing high-tech and high value-added industries, increasing local sourcing, and creating more and better jobs.

“Strategic FDI as guided in the Politburo’s Resolution 50/2019 on orientations to finalize policies and mechanisms to promote FDI quality and effectiveness toward 2030 plays an essential role in sustaining Hanoi’s sustainable economic and employment growth and in realizing its industrialization and modernization plan toward 2030,” said Nguyen Duc Chung, Chairman of the People’s Committee of Hanoi.

“We welcome IFC’s support in developing a new investment strategy and diversifying funding sources as well as mobilizing quality investors through its global network,” Chung added.

Under the MoU framework, IFC will work with Hanoi to formulate a new-generation FDI strategy in response to the government’s master plan on foreign investment promotion toward 2030. Where possible, IFC will also assist Hanoi in diversifying its funding sources. The overall effort will leverage IFC’s global network of clients and partners, with benefits to potential key sectors including financial markets, infrastructure, logistics, and health and education.

“Hanoi already possesses many key factors that are attractive to higher quality FDI. The current environment of global supply chain changes — as a result of the Covid-19 pandemic — provides a good opportunity for the city to further prioritize FDI inflows in line with its development strategy,” said Kyle Kelhofer, IFC Regional Manager for Vietnam, Cambodia, and Lao.

“This includes FDI with increased local value-addition, with increased technology focus, to strengthen foreign-local firm linkages and help enhance local supply chain opportunities, foster improved job opportunities, and boost the overall competitiveness of the city.”

Promoting private sector development, IFC has been supporting Vietnam to improve business competitiveness and attract international investors over the past two decades. Most recently, IFC worked with the Ministry of Planning and Investment on recommendations for Vietnam’s new national FDI approach. It is also helping Vietnamese manufacturers improve capacity and supply to multinationals through a pilot Vietnam Supplier Development Program.

Vietnam’s festive staycation the grandest offers of the year (photo: freepik.com)

Park Hyatt Saigon’s festive staycation package

Nothing ordinary ever happens during Christmas and New Year. From now to December 31 (excluding the peak nights of December 24, 25, 31, and January 1), you can experience a special staycation from only VND7 million ($305) per night for two guests, including a VND4 million ($173) credit per night redeemable for all of hotel services, 30 per cent off for spa, a premium bottle of Prosecco upon arrival, daily breakfast for two, and much more.

On Christmas Eve, Christmas Day, New Year’s Eve and New Year’s Day, the hotel celebrates the season with promotions running round the clock and all-day festivities at all outlets. Among them, Le Petit Chef Festive Edition is priced at VND 4,000,000 per guest, excluding beverages. Its Magic At The Park – Holiday Edition organised in the Ballroom on December 13, 20 and 27, pricing from VND650,000 ($28) for 6-12 year olds, VND950,000 ($41) for people over 12, and VND1.2 million ($52) per guest for the premium two front rows. Furthermore, all you need for a cosy and wonderful Christmas season is just one call away. The Pastry Boutique introduces a wide range of artisanal Christmas cakes, sweets, and pastries.

Joyful stay at An Lam Retreats Saigon River

This year, An Lam Retreats Saigon River offers a great combination for Christmas and New Year’s Eve at a special rate from VND8 million ($347) per night for two, including a complimentary roundtrip pickup service, Christmas dinner, New Year’s Eve dinner, music performances, lucky draws, and fireworks by the river. The offer is applicable for a minimum of 2-night stays.

The city resort celebrates Christmas and New Year with special rates on December 24 from VND1.75 million ($76) for adults and VND1 million ($43) per child, including buffet by the river, complimentary round trip transfer, free flow of soft drinks, water, tea and coffee, music, and a special visit from Santa Claus.

Christmas Day lunch by the river is offered for VND710,000 ($30) per adult and VND350,000 ($15) per child, for which you can choose either Western or Vietnamese cuisine. Welcome the new year with a special dinner on December 31, starting at VND2.15 million ($90) per adult and VND1 million ($43) per child, with all the aforementioned perks included, plus a countdown party and stunning fireworks by the river.

Sense of Celebration at Banyan Tree and Angsana Lang Co

Banyan Tree and Angsana Lang Co welcome guests to reconnect with their family and friends and celebrate this favourite time of year with the Sense of Celebration package. When booking a king- or twin-bed Garden Balcony or Sea View Junior Pool Suite in Angsana Lang Co, or the Lagoon Pool Villa or Beach Pool Villa in Banyan Tree Lang Co, guests can enjoy a delightful Christmas and New Year dinner for two valued at $172 in total for a minimum of two nights stay.

The resorts’ Christmas Eve Buffet Dinner on costs from VND2.5 million ($109) per person and will pamper your taste buds with a choice of mouth-watering Western dishes, festive goodies, chocolate yule log, and panettone, along with Asian delights.

A Christmas Day Market at Angsana Central Lawn will be organised where you can enjoy a fun time with your family. Besides a full array of fun-filled games, activities, and snacks, you can shop for traditional products, gifts, regional crafts, as well as explore Vietnam’s lively streetfood delicacies. The market costs VND1 million ($43) per adult and VND500,000 ($22) for children ages 4 to 12.

Exclusivity at An Lam Retreats Ninh Van Bay

An Lam Retreats Ninh Van Bay invites you to a special celebration surrounded by the soothing sound of the ocean. Starting at VND7.5 million ($326) two adults for either Christmas or New Year’s Eve dinner, including breakfast, lunch, a pool party with live DJ, countdown party, and lucky draws, as well as complimentary selected minibar items, roundtrip pick-up service, and many more resort activities. The offer is applicable for a minimum stay of two nights.

Suiten’ Sweet at Sheraton Nha Trang

Sheraton Nha Trang offers a special Suite n’ Sweet promotion, starting from VND2.8 million ($122) a night only, including the benefits that come with a luxury suite with modern amenities and privileges for premium guests, plus a choice of the following benefits: early check-in at 10am or late check-out at 4pm, free welcome amenities in the room, daily breakfast, and club lounge access for two adults and two children under 12 years old, 50 per cent discount on the second room, as well as 20 per cent discount on food and beverages and spa services. Book now until December 31 and stay before January 31 and explore one of five suite types, rating from VND2.8 million ($122) to VND8.3 million ($360).

Fabulous Festivities at Mövenpick Resort Cam Ranh

Spectacular festive activities await you at Mövenpick Resort Cam Ranh. Relax with your family and friends during the night in which all the magic happens. Indulge in a selection of seasonal favourites, like fresh seafood from Cam Ranh Bay. The resort offers Christmas Eve and Christmas Day dinner buffets from just VND780,000 ($34) and VND650,000 ($28) per person respectively. The special Christmas 4-course set menu at the Tropicana Beach Club starts from VND880,000 ($38) per and offers great flavours of fresh seafood from Cam Ranh Bay, including a soup, a starter, a choice for the main course, and mouth-watering dessert. In addition, the resort is planning a wonderful New Year’s Eve at Panorama with its executive chef Andrea and the dedicated culinary team preparing gorgeous festive favourites with 14 different types of dishes. The feast costs VND2.25 million ($98) per person.

Savouring with InterContinental Phu Quoc Long Beach

InterContinental Phu Quoc Long Beach will organise many culinary and entertainment events under the theme “Carnival.” These events include the gingerbread house-building contest hosted by Santa Claus, where children can also enjoy activities such as reading books with him, while the adults indulge in delightful afternoon teas. The resort’s restaurants Sora & Umi, LAVA, and INK 360 will offer the most memorable cuisine, including a 6-course menu with chosen wines, local specialities, cocktails, and much more. In addition, a carnival will be organised on New Year’s Eve, where tourists can enjoy the appearance of clown stilt walkers, street magicians, bubble wizards, and fire dance shows. Events will officially start on December 19 and last until early 2021.

Home away from home at Mövenpick Resort Waverly Phu Quoc

Mövenpick Resort Waverly Phu Quoc’s mission is to present its guests with opportunities to make moments they can treasure for years to come. Thus, the resort offers the perfect harmony between peaceful secluded space and enjoyable socialising with energetic and cosy activities such as the Chocolate Hour, Aqua Zumba, beach parties, and BBQ pool parties. Families can stay in one of 79 villas with delicate amenities, tailored to each of visitors and including butler service, private villa BBQ dinner, and sunset foot massage. The resort made its mark with the astonishing achievement of becoming the first international 5-star resort on Ong Lang beach earning the “Best Luxury Family Resort in Asia” at the 2020 World Luxury Hotel Awards.

Xmas A-la-mood at Pullman Phu Quoc Beach Resort

This festive season, get ready to revel in a tantalising feast of Pullman’s Xmas A-la-mood, featuring a comprehensive menu of premium dishes. The resort’s experience has been enhanced with an extension of traditional festive treats, ranging from roasted turkey with chestnut stuffing to a beloved honey mustard glazed ham. Other menu highlights include local and international favourites, and homemade dessert buffet. From December 24, the warmest and most magical Christmas on the island is happening at Pullman, and you should explore a playful Christmas meal and a gourmet 5-course menu at only VND1.5 million ($65) per person.

Festive Season at Meliá Hanoi

Meliá Hanoi welcomes all who are looking for splendid accommodation, first-class facilities, and warm service. Celebrate the arrival of this holiday season with Meliá Hanoi Christmas Tree Lighting Ceremony and a feast at El Restaurant full of delicious goodies on December 24-31. Christmas Eve Dinner on December 24; Christmas Day Lunch on December 25, and New Year’s Eve Dinner on December 31 are all priced from VND1.28 million ($55) per adult and VND680,000 ($29.50) per child from 4 to 10 years, including a choice of beer or soft drink. Groups from 10 persons are allowed an extra invite for free when booking at least five days in advance.

Great holidays at Pandanus resort

Immerse yourself in Pandanus’ lush tropical gardens adjacent to a white sandy beach. The resort’s holiday package includes a 1-night stay in a spacious Superior Standard room with full amenities, a wide selection of international cuisines, a relaxing luncheon, and a sumptuous barbecue dinner all in the Café Blue Lagoon Restaurant. Guests will be given room upgrades at no additional charge, when available. This promotion will be in effect until the end of February for the unbelievably low price of VND2.44 million ($106) per night for two. If you decide to stay on either December 26 or 31, there will be a small surcharge for your stay.

Christmas and New Year at JW Marriott Phu Quoc

With many elements such as fabulous feasts, royal parties, extraordinary service, and deals that are simply cannot be refused, JW Marriott Phu Quoc Emerald Bay shines as the destination for festive season of Christmas and New year. From VND8.5 million ($370), “Festive Delight by JW” prepare for you and your family unforgettable experiences with luxury accommodation, breakfast for 2 adults and 2 children ages 4-12, Christmas or New Year’s Eve dinner at Tempus Fugit Restaurant, airport transfer, and 20 per cent off on spa treatments.

The Christmas Eve “Christmas Feast for All” at Tempus Fugit restaurant is a luxurious buffet party with rates from VND2.5 million ($109) per person. If guests desire to experience their culinary journey in splendid and impressive atmosphere, then Madam Pearl’s Exclusive Party at the grand Pink Pearl mansion, is the choice to make.

Kick off Christmas at Grand Mercure Danang With the jingle bells ringing and sweet-voiced carols in the air, the best time of the year is coming to town! Streamers of tinsel and glass satin balls are hanging up on Christmas trees where the reunited family shares colourful gifts. Let us get into the holiday spirit with a fabulous staycation right here at Grand Mercure Danang. With its splendid Christmas tree set up for guests and their beloved families, the hotel lights up your holiday with awesome deals right at your fingertips. A delicious welcome drink and a hearty Christmas meal will wait for you, right before the party night to ring in New Year and welcome 2021. Grand Mercure’s Christmas & New Year Treats has got it all wrapped up for you to ensure you experience memories of a lifetime. The festive season starts with the Christmas Wonder Land Buffet Dinner at La Rive Gauche Restaurant on December 24 with the Carol Choir. Starting at just VND1 million ($43), you can enjoy a wonderful Christmas Eve experience at La River Gauche, with complimentary mulled wine, and unlimited servings of draught beer, soft drinks, and water. The hotel also offers an early-bird discount of 10 per cent for all bookings by December 15. Furthermore, the New Year Eve Buffet Dinner at La Rive Gauche Restaurant on December 31 invites you to live music at only VND1.1 million ($47) and features a wide range of gourmet dishes. The buffet also includes unlimited servings of draught beer, soft drinks, and water. Moreover, seafood lovers will enjoy the seafood live cooking station while the hotel’s New Year Cookies and Macaroon Tower will satisfy your dessert cravings. Early-bird discounts at 10 per cent are available for all bookings by December 20. Last but not least, you can enjoy New Year at Nirvana Bar with the Sunshine band, starting at VND400,000 ($17.50), including free-flow sparkling, red, and white wine; selected cocktails; draught beer; soft drinks; and water from 9pm to midnight. A special discount of 50 per cent applies for guests enjoying the New Year Eve Buffet. On the first day of the new year, the hotel’s all-you-can-eat Dim Sum Brunch, priced at only VND490,000 ($21) is offered at Golden Dragon. Aesthetically designed by talented chefs from the Sofitel Macau, the menu showcases over 50 dim sum treats, meticulously hand-crafted dumplings, shumai, fried spring rolls, steamed rice rolls, and much more. Year-End Party by the river at Mia Saigon With the festive season on its way, why not experience something new and riverside at Mia Saigon, and hold your year-end, festive event at the luxury boutique riverfront resort. Less than 15 minutes by speedboat from the city centre, Mia Saigon is an ideal place for any event with an intimate ambiance coupled with sweeping views of the Saigon river. The opulent indoor venue at L’ÂME and the open space of the yard and river deck, as well as the stunning rooftop view under the clear skies at Gin on 8, all ensure an unforgettable experience that will impress every guest. Event menus can be tailored for every occasion. Whether it is a cozy dinner for 10, evening canapés or a lavish year-end party for 300 persons, our year-end menus offer something to suit every taste and promise to leave you satisfied and ready for an evening’s joyful entertainment. With its stunning location, a year-end party at Mia Saigon creates an amazing ambiance with a glorious sunset on the river and beautiful view of the city. You can enjoy the open space, the fresh air, and the clear blue sky at crisp evenings thanks to the cool breeze from the river during these coolest months of the year. Moreover, mouth-watering event menus with daily fresh ingredients, local produce, and premium imported meats can be tailor-made upon request and are executed by our dedicated team who cares about every detail to perfect your feast. Last but not least, Mia’s exclusive accommodation packages will bring you resort-style comfort after an enjoyable party night. The hotel offers complimentary welcome canapés for a group from 30 guests; 10 per cent discount for event guests to enjoy the rooftop bar Gin on 8; complimentary pick-up service by speedboat from Bach Dang Wharf; and attractive pricing options starting from VND900,000 ($39) per person.

HCM City (VNA) – The Ministry of Agriculture and Rural Development (MARD) has urged localities to adopt drastic measures to fight irregular, unreported and unregulated (IUU) fishing.

All Vietnamese fishermen, businesses, and local authorities must consider this an important and urgent task to affirm the prestige of Vietnam’s fisheries sector in the world and among countries it shares territorial waters with, and be resolved to meet the standards set by the European Commission (EC).

Since the EC gave a “yellow card” warning to Vietnam’s fisheries and seafood in the European market in October 2017, the entire sector has suffered marked losses.

Tran Dinh Luan, head of the ministry’s Directorate of Fisheries, said it is necessary to prevent, deter, and eliminate IUU fishing in order to remove the “yellow card” warning, develop fisheries responsibly, and integrate into the world.

This is also the guideline of the Party and State, as reflected through the Law on Fisheries.

Since the imposition of the EC warning, Vietnam’s fishery export value to Europe has fallen by between 6 and 10 percent annually.

From being the second-largest importer of Vietnam’s seafood, with value representing 17-20 percent of Vietnam’s total export revenue, the EU now ranks fifth, after Japan, the US, the Republic of Korea (RoK), and ASEAN.

The Government and the National Steering Committee on IUU Fishing Prevention have issued a range of documents instructing ministries, agencies, and People’s Committees in 28 coastal cities and provinces to drastically take preventive measures. The MARD has conducted regular inspections in localities.

The EC has highly valued Vietnam’s political determination to implement its recommendations in this regard.

Vietnam has openly and transparently announced the results of inspections of seafood exports to the EU and has completed a legal framework that serves as a foundation to materialise relevant tasks, including the enforcement of the Law on Fisheries, two decrees adopted by the Government, a decision by the Prime Minister, and a circular from the MARD.

The country has joined and realised the Food and Agriculture Organisation (FAO)’s Agreement on Port State Measures, whose main objective is to prevent, deter, and eliminate IUU fishing, and also the UN Fish Stocks Agreement.

The EC has lauded Vietnam’s efforts in installing fishing vessel monitoring equipment and enhancing the management of seafood exploitation.

One of 28 coastal localities in Vietnam, the Mekong Delta province of Soc Trang has posted significant achievements in fighting IUU fishing.

With 366 fishing vessels of 15 metres in length or more operating at sea, the province has stepped up communications work so that captains, sailors, and ship-owners seriously observe relevant regulations.

According to Duong Tan Truong, head of the provincial Department of Fisheries, Soc Trang has developed a plan to conduct tasks in fighting IUU fishing and established a working group to lead the fight.

It carried out 10 patrols at sea last year and inspected 146 fishing vessels inside and outside of the province.

Soc Trang also granted 381 seafood certificates to 11 processing and export firms in the locality during 2020, with more than 6,000 tonnes of seafood, according to Truong.

Southernmost Ca Mau province, meanwhile, has also made substantial efforts in disseminating relevant legal documents to raise public awareness about IUU fishing, and enhancing coordination between relevant agencies.

The province will work harder in the time ahead to prevent fishing vessels that deliberately operate in foreign waters./.

VNA

The Hanoitimes – As of January 20, the total value of government bonds reached more than VND16 trillion (US$694.7 million).

The State Treasury of Vietnam plans to mobilize VND350 trillion (US$15.4 billion) by issuing government bonds via auctions at the Hanoi Stock Exchange (HNX) in 2021.

Vietnam government plans to mobilize US$15.4 billion via bond auctions in 2021. Photo: Cong Hung

Under the plan, the government would issue bonds with five-year maturity of VND20 trillion (US$886.7 million), seven-year maturity of VND15 trillion (US$433.3 million), ten-year maturity of VND120 trillion (US$886.7 million), 15-year maturity of VND135 trillion (US$5.8 billion), and bonds maturities ranging between 20 and 30 years worth VND30 trillion (US$1.3 billion).

During the implementation process, the State Treasury of Vietnam could adjust the issuance volume of bond maturities to suit the market situation and the government spending.

According to the Government Bond Auction Plan for the first quarter of 2021, the Treasury will issue bonds with total value of VND100 trillion (US$4.3 billion).

As of January 20, the total value of government bonds reached more than VND16 trillion (US$694.7 million).

The Treasury will this year strive to complete the 2021 capital mobilization plan assigned by the Ministry of Finance, comply with the state budget and public debt restructuring towards ensuring sustainable safety of the national financial system.

It will issue a variety of bond tenors for different investment purposes and create reference interest rates for the market, restructure public debt (government bond repurchase and swap) according to the scheme approved by the Prime Minister.

It will pilot the issuance of new types of bonds (green bonds, floating-rate bonds).

The Hanoitimes – Marko Walde, chief representative of the Delegation of German Industry and Commerce in Vietnam, spoke with Hanoitimes about opportunities from a trade deal with the EU and what needs to be done to make use of it.

I would express my respects to Hanoi’s encouragements in terms of trade and investment promotion. As the capital of Vietnam, Hanoi with a good infrastructure basis, completed industrial zones and convenient transportation, is one of the centers of economy, industry, trade, and services.

Marko Walde, chief representative of the Delegation of German Industry and Commerce in Vietnam. Photo: AHK.

The city’s implementation of its “one stop shop” mechanism is also evidence of its dedication to bring in a clearer and more transparent investment environment. By completing other infrastructure projects, especially the metro lines, they city would increase their attractiveness tremendously.

From our point of view, for the long run, Vietnam and Hanoi should establish a stable and reliable legal framework and economic policy to support businesses, local and international ones. In particular, Hanoi should develop a practical oriented dual vocational training and education projects in order to gain high skilled labor force and support local businesses in improving their technology competence as well as their competitive advantages.

Hanoi should continue improving general infrastructure as well as conducting a suitable platform for direct experience exchanges and direct dialogue between authorities and businesses as well as between local and international ones.

As I mentioned before, for the purposes of sustainable development and attracting more high-value-added foreign direct investment, the legal and regulatory framework of many sectors and the economic policies should be improved further and be consistent.

The other challenges are the lack of qualified workers in Vietnam, the undeveloped supporting industries, especially the weakness of the domestic supply chain. These matters might cause problems in the long term and Vietnam should solve it quickly. We hope that in the long run, once the EVFTA and EVIPA come into force, they will bring more opportunities for Hanoi and other provinces.

I strongly believe that there will be many FDI flows for high-valued projects into Vietnam, in the long term, including from Germany. German investors would bring their well-known technology in management and training to this country, allow more value-added production, less waste of material and resources.

At the upcoming “Hanoi 2020 – Investment and Development Cooperation” conference, the city’s leaders will issue licenses for 116 projects with registered capital of a combined VND339.67 trillion (US$14.66 billion), according to the municipal People’s Committee. The event, scheduled to take place at the National Convention Center on June 27, is set to attract up to 1,850 delegates, including senior government officials, 29 ambassadors and diplomatic officers, representatives from eight international organizations, foreign experts, among others.