Analysts weigh in, probably for the last time, before anticipated rules lift a long-standing ban and let Vietnamese enter casinos. For years the Mekong Delta province of Kien Giang, home to the tourism-haven Phu Quoc Island, has been pursuing a casino project as its next big gamble to pull in visitors. Since at least 2007, news of various suitors circulating the development and of the location getting changed has evoked an air of uncertainty, somewhat aptly for a gambling venture. But nothing hangs over the project like the country’s ban on local gamblers, meaning that the casino would need to solely depend on foreign tourists, who account for just around 20 percent of all visitors to the island. In an explicit gesture of support for casino development in Phu Quoc, Prime Minister Nguyen Xuan Phuc said at a meeting last week that the Politburo, the decision-making body of the ruling Communist Party, has already given permission for Vietnamese people to first enter two … [Read more...] about Caution as Vietnam inches closer to pivotal gambling decision
Vietnam need visa to singapore
Vietnam has opportunity to join TPP on the ground floor
President Nguyen Minh Triet announced Vietnam’s decision to participate in Trans-Pacific Partnership (TPP) agreement negotiations as an official member when he was in Japan last week for the 18th APEC Summit. Eric C. Emerson, a partner in Steptoe’s International Trade and China practices, spoke with The Saigon Times Daily about TPP and Vietnam when he was in the country last week to talk to local companies about regional trade agreements. Excerpts: The Saigon Times Daily: What is the primary difference between the TPP and the multilateral trade agreements that Vietnam has signed? - Eric C. Emerson: The idea of TPP would be much broader and covers many more issues than the ASEAN-based free trade agreements (FTA). The real core of ASEAN agreements is to do the tariff reduction over a period of time, and some of them also address services and investment. Meanwhile, TPP will cover goods, services and investment, and also things like intellectual property rights, government … [Read more...] about Vietnam has opportunity to join TPP on the ground floor
Thailand, Vietnam join hands to boost bilateral tourism
The Tourism Authority of Thailand in Ho Chi Minh City announced the upcoming launch of the co-joint tourism development program entitled "One million tourists in 2015" at the press conference at Saigon Exhibition & Convention Center, also known as part of the ongoing International Travel Expo 2010. According to TAT representative, the program, which is set to debut on Oct 3, will highlight six points, including review and discuss program policies for both countries at agendas to ensure the target, exchange information between two countries, exchange the media between two countries, invite each other to Trade shows and other events, support each other to do roadshows in two countries, and joint-promotion to foster the relationship between two countries.The program is co-organized by Tourism Authority of Thailand and Vietnam National Administration of Tourism.The TAT spokeperson also figured out that, in the first seven months of 2010, Thailand has welcomed over 240,000 Vietnamese … [Read more...] about Thailand, Vietnam join hands to boost bilateral tourism
Five Strategic Solutions to Accelerate Vietnam Economic Development
Vietnam has adopted many right policies and measures to restore and develop the domestic economy and deal with numerous difficulties on financial and monetary markets. The banking sector has initially stabilised and interest rates have been slashed a lot. However, many dark spots still exist in the macroeconomic picture. Many industries like banking, finance, insurance, securities, real estate, construction, building material, cement, iron and steel, engineering, transportation and shipbuilding are still struggling with hardships like oversupply, bad debts and weak competitiveness. Meanwhile, the Government lacks effective measures to business system reform. To reform enterprises, the State needs to create a legal framework for changes in shareholder structure in big companies from State shareholder and individual shareholders into institutional shareholders and strategic shareholders (not State-owned enterprises) in order to basically change corporate governance and enable enterprises … [Read more...] about Five Strategic Solutions to Accelerate Vietnam Economic Development
Vietnam – A Potential Market for Credit Cards
The Vietnamese people remain unfamiliar with payments by credit card, an advanced financial payment mode very popular in the world. At the moment, there are some 330,000 international credit cards in circulation in Vietnam, a small number in comparison with the country's potential. These figures were released January 29, 2007 by Visa International and ACNielsen's survey on the financial payment habits of Vietnamese people. Huge potential Mr Stuart Tomlinson, Visa country manager for Vietnam, Cambodia and Laos, said about 1.2 million people in Hanoi and Ho Chi Minh City, where nearly seven million people are living, are eligible for using credit cards and this figure shows great potential in the Vietnamese market. Besides, some 10.5 million Vietnamese people are eligible for opening bank accounts and using debit cards. Stuart Tomlinson analysed that the survey showed positive attitudes of Vietnamese people to using payment cards although the main means of payment remains cash. "The … [Read more...] about Vietnam – A Potential Market for Credit Cards