The Ministry of Foreign Affairs on Wednesday handed over a diplomatic note to representatives from the Chinese embassy in Hanoi to protest the Chinese vessel’s action this month of using a water cannon to drive off the Vietnamese fishing boat off the Hoang Sa (Paracel) Archipelago, according to an official statement made by the ministry on Thursday. On March 6 Chinese vessel numbered 44101 rammed and sank a Vietnamese fishing boat while it was fishing in the Da Loi (Discovery) Reef off the Paracel Archipelago, according to the National Committee for Incident, Natural Disaster Response and Search and Rescue. The boat from the central province of Quang Ngai sank and the five fishermen on board clung on to it until they were rescued by another Vietnamese fishing boat. The fishermen said after returning to shore that the Chinese vessel chased after them, sprayed water cannons and forced their boat into a reef. They suffered estimated losses of VND3 billion ($129,200). The … [Read more...] about Vietnam foreign ministry demands compensation from China for sinking fishing boat
Vietnam foreign office
Vietnam among top 10 destinations in the world: survey
Vietnam’s growing popularity as a travel destination has been confirmed by its ranking as one of the 10 best places to visit in the world. The ranking was released by the world’s most popular travel guide and review website, TripAdvisor, last month. The ranking is based on readers’ reviews and ratings for various categories including accommodation, restaurants and travel experiences, gathered over 12 months. Vietnam, which was named among world’s 20 fastest growing travel destinations in 2016, has overtaken its neighbor Thailand for the first time. Thailand came in 9th, three places behind Vietnam. Foreign tourist arrivals to Vietnam in January-May skyrocketed 27.6 percent from a year ago to more than 6.71, according to the General Statistics Office. Vietnam is loved by both local and foreign visitors for its natural beauty, cheap prices, vibrant nightlife and memorable travel experiences. Vietnam is striving to welcome 17-20 million foreign visitors and make … [Read more...] about Vietnam among top 10 destinations in the world: survey
Vietnam’s foreign reserves hit US$63 billion as of April
Vietnam’s foreign exchange reserves grew to a record high of almost US$63 billion as of the end of April, a senior Government official has stated. Vietnam purchased an additional US$32 billion over the past two years Chairman of the Government Office Mai Tien Dung informed the media that Vietnam purchased an additional US$32 billion over the past two years. He said that large reserves will provide more room for the State Bank of Vietnam to implement its monetary policy, especially in helping to maintain stability in exchange rates. In 2017, the exchange rate between the US dollar and the Vietnamese dong increased by just 1.2 percent, lower than the 2 pct target set by the government. According to the National Financial Supervisory Commission, the USD/VND rate continued to remain stable in the first quarter of 2018 and was supported by a strong supply of foreign currency. The exchange rate stood at VND22,463 per US dollar as of March 29, up 0.21 pct against the end of … [Read more...] about Vietnam’s foreign reserves hit US$63 billion as of April
Vietnam’s foreign reserves reach 63 billion USD
Mai Tien Dung, Minister-Chairman of the Government Office, announced this at a recent press conference following a monthly Cabinet meeting. SBV bought in 32 billion USD worth of hard currencies in the past more than two years, Dung said. According to experts, SBV has also changed its way of purchasing foreign currency. Instead of using spot trade, the central bank has used futures contracts for the purchase of hard currencies since February 7 this year. SBV has bought in 32 billion USD worth of hard currencies in the past more than two years Previously, the bank bought foreign currency in spot trade, with volumes reaching 1-3 billion USD per day, meaning that an equivalent volume of VND was pumped into the market in a short time. But since February, the bank has launched three-month futures contracts to regulate the flow in a more flexible way. Some 40 percent of the foreign reserves have been purchased through futures contracts, helping to balance cash flows to … [Read more...] about Vietnam’s foreign reserves reach 63 billion USD
Vietnam remains world’s second largest shoe exporter
Vietnam has earned over US$2.8 billion from exporting shoes since the beginning of 2018, thus maintaining second position in the world in terms of shoe exports. Vietnam remains world’s second largest shoe exporter - Photo: VNA According to the 2017 statistics of the World Footwear Magazine, Vietnam ranked second among the top 10 largest footwear exporters for the third consecutive year in 2017, with 1.02 billion pairs of shoes, equivalent to 7.4 percent of the global footwear supply. China continued to be the top exporter, with 9.31 billion pairs of shoes. The Vietnam Customs Office said that the country’s shoe export turnover has increased over recent years, from US$8.4 billion in 2013 to US$14.65 billion in 2017 – an increase of 12.3 percent. Of the total, US$11.78 billion, or more than 80 percent, was generated by foreign-invested enterprises. Last year, a total of 863 enterprises shipped their footwear products abroad, up 15 percent annually. The US was … [Read more...] about Vietnam remains world’s second largest shoe exporter