Domestic tourism–a rough road ahead
Vietnam saw a robust surge in domestic tourism last year, with over 101 million travelers reported, well above the pre-pandemic annual level. This is a vital impetus for the tourism sector amidst a scarcity of international visitors. However, many businesses have recently expressed concerns over a
Hands are tied
Businesses are wondering how long it will take to ride out the current economic malaise. Numerous businesses in the fertilizer, retail, textile, furniture, and real estate sectors have exercised great prudence in setting their growth targets, with some even lowering their targets. Modest growth
Inexplicable absence
The Government has proposed adding nearly 30 draft laws, ordinances, and resolutions to the law-making program in 2023 and 2024 but the list does not include draft laws that are more urgent. Amending the Corporate Income Tax Law (CIT Law) should be made a top priority as it should be aligned to
FDI attraction amidst global minimum tax policy
Foreign direct investment (FDI) has been rising strongly even though global economic uncertainties have negatively affected this capital flow. Many factors are taking a toll on FDI activity and Vietnam can hardly stay unscathed. The global FDI flow amounted to US$1,580 billion in 2021, up a
Where is the coffee market headed?
Vietnam and other major coffee-exporting nations are halfway through the 2022-2023 harvest season, but uncertainties are gripping the market. Some hope amid volatile markets The opposite price movements on the London and New York coffee exchanges are perhaps the biggest surprise. The price of
Toward sustainable tourism
Lam Dong Province’s success in agritourism has paved the way for other regions, including HCMC as Vietnam’s most populous city, to achieve sustainable development in the near future. Agritourism, a combination of three main elements of agriculture – farming, farmers, and rural areas – and tourism,
Ambitious targets amid challenges
While the business community is concerned about a fall in profit this year, the banking system still expects positive growth. Optimistic goals Despite accomplishing 55% of its plan for 2022 with pre-tax profit of over VND1.7 trillion, down 13% against 2021, ABBank has confidently set a pre-tax
Three corporations from Korea, Germany, and Japan committed to investing 3.7 billion USD in Vietnam
Three groups spoke with the Ministry of Planning and Investment about new investments and expansion this year at the Prime Minister Conference to Meet Foreign Investors, with a total investment capital of up to $3.7 billion.
EU-invested expansion projects suspended over green energy standards
HCMC – Several EU investment projects in Vietnam have put their expansion plans on hold as the country does not meet green energy standards, heard at a conference between Prime Minister Pham Minh Chinh and foreign investors. The conference was chaired by PM Chinh at the Government Office this
HCMC opens City Hall to visitors on holiday
HCMC – The 110-plus-year-old City Hall, the office of the HCMC People’s Committee, will be opened to tourists for the first time during the upcoming holidays on April 30 and May 1. Visitors are required to register between April 22 and 26 with the HCMC Tourism Department to secure a slot on the
China purchases this product from Vietnam at exceptionally high prices
Not yet the biggest customer, China is paying sky-high prices to buy tea from Vietnam in the first months of this year.
Stringee receives Series A financing from DSVGF
HCMC – Local communication platform start-up Stringee JSC has successfully secured the first round of initial investment from DAIWA-SSIAM Vietnam Growth Fund III L.P (DSVGF), a private equity fund investing primarily in private and non-listed domestic companies. DSVGF’s decision was attributed to
