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
Vietnam life vietnam to waste investment opportunites due to slow reopening foreign associations
Dr. Oliver Massmann, General Director of Duane Morris Vietnam LLC, told The Hanoi Times about his views on expectations of foreign companies investing in the long term in Vietnam as the country reopens the economy. What do you think about recent rumors that foreign groups intend to shift their production out of Ho Chi Minh City to other countries due to the impact of Covid-19? The rumors are true and justified, but to see whether the relocation would actually happen, we will have to wait for around six months as it depends on how the Covid-19 situation in Vietnam will turn out. Dr. Oliver Massmann, General Director of Duane Morris Vietnam LLC. Photo: Duane Morris Vietnam In 2020, thanks to its outstanding Covid-19 prevention, the country became one of the most attractive destinations for foreign investors looking to move its production out of pandemic-ridden China. Coupled with the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA), Vietnam … [Read more...] about Vietnam regains its position as most ideal investment location: foreign expert
Total demand of investments for seaport development until 2030 is about 313 trillion VND (Photo: VietnamPlus) Hanoi (VNA) – The planning of Vietnam's seaports for the next decade sets a target of creating a breakthrough in the seaport system and the attraction of more foreign investment. Seaports play key role in goods transport Diversifying investment attraction forms Vietnam Maritime Administration , said that with the motto that seaport infrastructure should be developed one step ahead and the planning of the seaport system needs a long-term vision, policies on the diversification of capital resources for seaport development in Vietnam that were stated in the planning showed positive outcomes. So far, nearly 100 percent of Vietnam’s seaport infrastructure has been invested using capital raised from different sources in society, he noted. foreign investment of Vietnam in the recent 10 years. With the construction of many deep-water seaports in the Cai Mep-Thi Vai and … [Read more...] about Long-term plan encourages foreign investment in seaport development
Workers sorting and treating waste at a waste treatment plant in Cà Mau City. VNA/VNS Photo Huỳnh Thế Anh By Ollie Arci and Ly Ly Cao HÀ NỘI — As the world continues to grapple with the COVID-19 pandemic, the looming climate crisis has fallen down the agenda, with efforts to stave off future environmental catastrophe waylaid in favour of immediate public concerns. However, as global leaders highlighted at the recent UN General Assembly meeting in New York, humanity is on the edge of an abyss in terms of its heavily damaged ecosystems. Last November, the Vietnamese Government adopted the amended Law on Environmental Protection, which provides a legal framework on Extended Producer Responsibility (EPR). The application of the decree will be followed by a circular on January 1, 2022. Such a framework compels companies to find solutions and take ultimate responsibility for their plastic consumption and production. In Việt Nam, the EPR concept was first introduced in the … [Read more...] about Can EPR turn back the rising tide of waste?
Compiled by Thiên Lý The volume of goods transported through southern ports has been rising by an average of 20 per cent a year in recent years, according to a report by Vietcombank Securities Company (VCBS). The rate in the north has been 13.2 per cent. Data from the General Statistics Office shows that in the first half of this year seaports in southern provinces like Bà Rịa - Vũng Tàu, Tiền Giang and An Giang achieved high growth rates. VCBS analysts said there are several reasons for this. They shared some common advantages with the rest of the country like the high growth in Việt Nam’s exports and imports thanks to free trade agreements it has signed with several countries that are starting to take effect. Market Research Company Fitch Solutions has forecast Việt Nam’s trade to grow at an annual rate of 11 per cent between 2021 and 2024. The Government’s pro-active investment in the logistics infrastructure in recent years has helped attract supply … [Read more...] about Investments in deep-water ports paying off
Startup Sky Mavis with the game Axie Infinity has surprised the Vietnamese startup community when it reached a huge total market capitalization - US$2.4 billion - after three years since its release, a record time in the Asian technology world. Axie Infinity, a blockchain-based game developed by Vietnamese, is a favourite game of players in many Asian countries. Axie Infinity, a blockchain-based game developed by Vietnamese, is a favourite game of players in many Asian countries. Staying home during the time of Covid-19 epidemic, people in many Asian countries play this game to make money. According to CNBC, Axie Infinity has become a phenomenon in Cabanatuan in the Philippines. The highest record price for an Axie that was sold recently was 300 ETH (over $70,000). The man who stands behind Sky Mavis is Nguyen Thanh Trung, its founder and CEO. At the age of 29, Trung may become Vietnam's first tech billionaire. In May 2021, the startup successfully raised $7.5 … [Read more...] about Global list includes name of Vietnamese “unicorns”