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CHI Hospitality International inaugurates a Stay7 International Hotel in the central city of Nha Trang. —Photo courtesy of the firm South Korean hotel management company CHI Hospitality International has inaugurated a Stay7 International Hotel in the central city of Nha Trang to take the opportunity from the recovery of the country’s tourism industry. Stay7 International Hotel Nha Trang has 203 luxuriously designed rooms at 65 Tran Quang Khai in the heart of Nha Trang City. There is a modern swimming pool on the 28th floor, ranked as one of the city's five most beautiful swimming pools. Currently, CHI Company Group has businesses in Viet Nam, such as in Ha Noi and HCM City, including financial/real estate, manufacturing, industrial logistics, and hotels. They are actively carrying out investment/operation projects in resort development in Da Lat and Phu Tho Province, 5-star hotels in Da Nang City, and residence buildings with about 320 rooms in Thai Nguyen Province. A … [Read more...] about South Korean hotel chain opens in Nha Trang

Projected GDPs for ASEAN+3 countries. Vietnam is forecast to be the second fastest-growing economy in the region this year. (Photo amro-asia.org) Hanoi (VNS/VNA) – Vietnam is expected to come out second only to the Philippines in terms of projected GDP for 2022 and on top for 2023, according to a recent Quarterly Update of the ASEAN + 3 Regional Economic Outlook. Specifically, the country was projected to achieve a growth rate of 6.3% this year and 6.5% next year, well above the region-wide figures which were estimated at 4.3% and 4.9% respectively. Compared to the previous update, Vietnamese growth rates were revised downwards to reflect the lower growth forecasts for China and the US, its major trade partners. The country was expected to top the list with growth rates of 6.5% and 7.0% in the April update. “Vietnam is a much more open economy and very exposed to the US and Chinese economies. Because we are expecting reductions in growth rates in these countries and … [Read more...] about Vietnamese economy to perform well: AMRO

Projected GDPs for ASEAN+3 countries. Viet Nam is forecast to be the second fastest-growing economy in the region this year. — Photo amro-asia.org Viet Nam is expected to come out second only to the Philippines in terms of projected GDP for 2022 and on top for 2023, according to a recent Quarterly Update of the ASEAN +3 Regional Economic Outlook. Specifically, the country was projected to achieve a growth rate of 6.3 per cent this year and 6.5 per cent next year, well above the region-wide figures which were estimated at 4.3 per cent and 4.9 per cent respectively. Compared to the previous update, Vietnamese growth rates were revised downwards to reflect the lower growth forecasts for China and the US, its major trade partners. The country was expected to top the list with growth rates of 6.5 per cent and 7.0 per cent in the April update. “Viet Nam is a much more open economy and very exposed to the US and Chinese economies. Because we are expecting reductions in growth rates … [Read more...] about Viet Nam to do well economically this year and the next: AMRO

General Secretary of the Communist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong hosted a reception for Russian Minister of Foreign Affairs Sergey Lavrov in Hanoi on July 6. Party General Secretary Nguyen Phu Trong (R) receives Russian FM Sergey Lavrov. (Photo: VNA) Lauding the political position and leadership role of the CPV in the process of national development and foreign policy of Vietnam, the Russian FM held that the external policy of the CPV and relations between the Vietnamese Party and State, and Russia have been supported by political parties of Russia, reflected by their sound ties with the CPV. He briefed his host on the outcomes of his talks and meetings with Vietnamese officials, affirming that Russia has attached much importance to the comprehensive strategic partnership with Vietnam, and supported ASEAN's central role in the region. Lavrov thanked Vietnam for making contributions to the enhancement of Russia-ASEAN … [Read more...] about Party chief receives Russian Minister of Foreign Affairs

Office workers withdraw money from an ATM. (Photo: VNA) In particular, workers in the processing - manufacturing industry had average income of VND7.3 million, rising by some VND476,000 year on year, while salary earners saw an increase of VND417,000 in their monthly income to VND7.4 million Pham Hoai Nam, Director of the Population and Labor Statistics Department under the General Statistics Office, told a press meeting in Hanoi on July 6. In the second quarter, all the 21 economic sectors recorded year-on-year hikes in workers’ average income, including mining (VND9.7 million, up 17.1 percent) and processing - manufacturing (VND7.4 million up 12.4 percent). He said during 2019 - 2021, workers’ income in Q2 often declined from the previous quarter since additional earnings coming from year-end extra work and Lunar New Year bonuses are usually paid in Q1. However, the situation was different this year, when the Q2 average income did not decrease but went up both quarter on … [Read more...] about Workers’ average monthly income grows 5.3 percent in H1

Accordingly, the N.A. Standing Committee adjusted the environmental protection tax rate from 2,000 VND (0.086 USD) to 1,000 VND per liter for petrol (except ethanol), from 1,000 VND to 500 VND per liter for diesel, from 1,000 VND to 300 VND per liter for mazut and lubricant and 300 VND per kg for grease. That for kerosene remains unchanged at 300 VND per liter. The reduction will be applied from July 11 until the end of this year. Speaking at the Standing Committee’s session, N.A. Chairman Vuong Dinh Hue said that as petrol prices have a strong impact on economic growth and macroeconomic stability, price stabilization is very important in the context of the current high oil prices. Therefore, this session was organized to adopt a practical and timely measure to stabilize the prices of petrol, diesel and grease, thus contributing to the implementation of the strategy for socio-economic recovery and development, curb inflation, macro-economic stability, and to reducing costs for … [Read more...] about N.A. Standing Committee agrees to reduce environmental protection tax for fuel