While the Covid-19 pandemic hampering the local economy, Vietnam still ensures favorable conditions to become an attractive investment destination. Following the dialogue held between Hanoi’s authorities and foreign businesses on October 19, experts shared with The Hanoi Times their views on what makes the country an attractive investment destination globally. Hong Sun, Vice President of the Korean Chamber of Commerce and Industry (KorCham) in Vietnam Photos: Duy Khanh A dialogue between Hanoi’s authorities and the foreign business community took place at the right timing and, therefore, is very much welcomed. I expected with such an initiative, more FDI would continue to come to Vietnam in general, and of Hanoi in particular. As the fourth Covid-19 outbreak in Vietnam has been contained, I consider this would open up a new wave of FDI into Vietnam, and Hanoi as the capital city would be at the very center. From my perspective, the strong … [Read more...] about Vietnam remains attractive to foreign investors: Experts
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Vietnam grasps opportunities to expand agricultural export market Viet Nam's agricultural products are being exported to more than 180 countries and territories, particularly products moving from the mid-range market to the higher-end segment. This information was provided at an online trade connection programme with the participation of representatives and business communities of India and three countries of the Greater Mekong Sub-region (GMS), namely Viet Nam, Thailand and Cambodia on Monday. This formed part of a series of activities of a project to strengthen international integration of small and medium-sized enterprises (SMEs) of India and the GMS countries, towards promoting global value chains and trade between India and the GMS countries, which is financed by the Asian Development Bank (ADB). Le Hoang Tai, Deputy Director of the Viet Nam Trade Promotion Agency under the Ministry of Industry and Trade, emphasised that farm produce and food were key exports of Viet Nam. … [Read more...] about VIETNAM BUSINESS NEWS OCTOBER 13
At the talks “Why Vietnam” held recently by the Ministry of Information and Communications, experts affirmed the significant role and position of Vietnam in the technology industry as well as global supply chains. This was an event on the sidelines of the ITU Digital World 2021 hosted by Vietnam. At the talks, the story about Vietnam's role and position in the digital era, the digital transformation process and Vietnam's post-pandemic steps attracted the attention of domestic and international managers, experts and businesses. At the "Why Vietnam?" talks held by the Ministry of Information and Communications in Hanoi. Photo: Trong Dat Many people still think that Vietnam is a small country but from the perspective of IT-communication industry development, where is Vietnam on the world map? Nguyen Thanh Tuyen, Deputy Director of Information Technology Department of the Ministry of Information and Communications: There are many countries in the world … [Read more...] about Where is Vietnam in the technology industry and global supply chain?
Revenue to state budget increases over 10 percent The revenue to the state budget in the first 9 months of this year amounted to 1,084.7 trillion VND, representing 80.75 percent of the projection and an increase of 10.75 percent over the figure recorded in the same period last year, according to the Finance Ministry. Meanwhile, the expenditure from the state coffer was estimated at 116.3 trillion VND, with the fight against the COVID-19 pandemic being prioritised. By the end of September, 29.1 trillion VND from the state budget was spend on the fight and support to those adversely affected by the pandemic. Despite the serious impacts of the pandemic, the revenue still increased year on year thanks to the economic growth momentum in the last month of last year, the ministry said. For the rest of the year, the ministry will continue accelerating administrative procedure reforms on taxation, simplifying business conditions, and joining other forces in fighting … [Read more...] about VIETNAM BUSINESS NEWS OCTOBER 16
Experts: Night-time economy expected to boost Hanoi tourism Ta Hien street in Hanoi Night-time economy is expected to develop Hanoi tourism, tourism experts and policymakers said. The Hanoi Old Quarter, locating in the downtown in Hoan Kiem district, is the most popular destination in the capital city. Tourists come here to explore ancient streets, craft products, local food or experience lives there. In the evening, streets become more crowded and lively with Hang Dao – Dong Xuan nigh fair and outdoor music performances. Since 2016, Hanoi has allowed Hoan Kiem district to pilot the extension of opening hour of bars and restaurants to 2am. As a result, their revenues increased by about 30 percent. Following the pilot, tourist arrivals in 2016 neared 1.4 million, up 22.8 percent from a year earlier. The figure went up to 1.95 million in 2017, nearly 2.2 million in 2018 and 2.5 million in 2019. The number of business households switching to hospitality services … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES JUNE 23
Trade surplus expected to soar sharply in the last months of the year The trade surplus is expected to soar sharply in the last months of the year The General Department of Customs has just released its report on Vietnam's imports and exports in the second half of September. Accordingly, the total import-export value reached $29.07 billion, up 17.9 per cent (equalling $4.42 billion) over the first half of the month. This outcome has boosted the total import-export turnover in the first nine months of 2021 to $483.82 billion (up 24.6 per cent on-year, equivalent to $95.39 billion). In the second half of September, trade surplus was $1.87 billion, contributing to reducing the trade deficit to $2.55 billion in the first nine months. Of this, total import-export turnover of the foreign-invested enterprises (FIEs) was $335.85 billion, an increase of 28 per cent on-year (equalling $73.48 billion); total value of local firms was $147.97 billion, a rise of 17.4 per … [Read more...] about VIETNAM BUSINESS NEWS OCTOBER 19