Vietnam’s agricultural sector records progress Over the past years, Vietnam’s agricultural sector has reaped marked achievements, helping ensure national food security. Vietnamese staples such as coffee, rice, rubber, cashew nuts, pepper, fruit, seafood, wood and timber products have gained firm foothold in the global market. Statistics show that the sector’s gross domestic product (GDP) grows about 2.5 percent while its production value expands by 2.73 percent each year. During the 2013-2017 period, the sector’s total export turnover reached 153 billion USD, with 36.2 billion USD earned in 2017. Seven out of the 10 major products saw export turnover exceeding 1 billion USD. To create impressive changes in agricultural production, the Vietnam Farmers’ Union (VFU) has signed a cooperation programme with the Ministry of Science and Technology, under which the two sides join hands in implementing scientific and technological tasks … [Read more...] about BUSINESS NEWS IN BRIEF 12/12
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Vietnam visa hassles could deter long holidayers
Frenchman Thomas and Thai girlfriend Araya had big plans for Vietnam. Their first visit to the country in August had impressed them so much that they wanted to return for a much longer trip. The first trip happened after they’d traveled from France to Bangkok to visit Araya's parents. As they socialized with Vietnamese people and learnt about different places in the country, they regretted not visiting Vietnam sooner. After the trip, Thomas researched more information about other travel destinations in Vietnam. Fond of motorbikes, he planned to enjoy exploring the northern mountains on one, apart from a leisure trip to Nha Trang, a resort town in central Vietnam, and Ho Chi Minh City for Araya. Vietnam’s beaches are a popular draw among foreigners, but those who want long holidays in the country face complicated visa rules and procedures. The plan was to spend the entire month of November exploring Vietnam, before Thomas starting a new job in December … [Read more...] about Vietnam visa hassles could deter long holidayers
The currency of experience has global value
The research of YouGov on behalf of Priority Pass, the world's leading and original airport experience program, surveying over 3,000 people in Australia, China and South Korea, and more than 10,000 globally, the data shows that respondents in APAC all overwhelmingly value shared experiences - which manifests most clearly in the form of holidays. Travel tops the table Research found that people like taking domestic short breaks, with nearly half of South Koreans and Australians particularly enjoying them at 47 percent and 49 percent respectively. In fact, travel topped the table of their favorite activities with near a fifth (17 percent) of people in APAC saying they most enjoyed a cultural trip abroad. This was reflected in spending, with people splashing out an average of $1,437 a year on getting away from it all. This was higher than any other activity and almost more than 50 percent on what they spent on luxury items, which rung up an average of $942 … [Read more...] about The currency of experience has global value
Seoul stocks end higher ahead of U.S. elections
The benchmark Korea Composite Stock Price Index rose 12.70 points, or 0.61 percent, to 2,089.62. Trading volume was moderate at 307.93 million shares worth 5.01 trillion won (US$4.46 billion), with winners outpacing losers 505 to 322. After opening a tad higher, the index had fluctuated between positive and negative terrain throughout the session. But last-minute buying propped up the index. Individuals picked up 171.9 billion won worth of local shares, while institutions and foreigners were net sellers, unloading 177.5 billion won and 7.3 billion won worth of stocks, respectively. "While investors have been awaiting the results of the U.S. elections, which would affect its direction regarding key pending issues, there seems to be hope for possible progress in trade disputes between the U.S. and China," said Seo Sang-young, an expert at Kiwoon Securities. The elections in the U.S. are to begin at 5 a.m. on Tuesday (Washington time). Big-cap bio, steel and auto shares gathered ground to … [Read more...] about Seoul stocks end higher ahead of U.S. elections
Foreign currency black market active in Hanoi
Illegal foreign currency transactions are an everyday sight in many areas in Hanoi, particularly on Ha Trung Street, the capital city’s biggest foreign currency market. The recent case that a man in the Mekong Delta city of Can Tho has been fined up to VND90 million (USD4,000) for exchanging USD100 into Vietnam Dong at local gold shop made headlines across Vietnam. A man counting US dollars at a gold shop on Ha Trung Street The gold shop had to pay a fine of VND295 million (USD13,409) for being unlicensed to carry out foreign currency transactions. Many people have been shocked at the case in Can Tho, saying that they even did not know anything about the fine regulations. Foreign currency exchanges are quite common in Vietnam, and it is extraordinarily rare to see such a fine. However, despite the VND90-million fine, the trading of foreign currency on Ha Trung Street, Hoan Kiem District, has continued uninterrupted. Speaking with Lao Dong Newspaper, a … [Read more...] about Foreign currency black market active in Hanoi