Night-time economy waits for its bright days

For HCMC, the delicious cake slice of evening economy in store for years will come to light as the Government is going to give it the greenlight soon. 

Decision 1129/QD-TTg, effective as of July 27, 2020, is a turning point which is expected to make evening economy thrive. The bans on business activities after midnight will be removed. Yet it also needs the momentum generated altogether by the state apparatus, communities and the business circle.

Night-time economy waits for its bright days
That evening economy is not successful everywhere is a known fact. However, it provides provincial/municipal governments with an opportunity to further bolster their economy after the pandemic and look at long-term economic future – Photo: Thanh Hoa

Decision 1129 has put night-time economy in its deserving position by giving clear road maps and goals. The decision aims to exploit economic potential of evening economy to make full use of economic opportunities, and improve the people’s income and living standards. At the same time, efforts must be made to minimize adverse effects on political security as well as social order and safety.

Bans on business activities after midnight will be lifted in many localities. HCMC, Hanoi, Quang Ninh, Haiphong, Danang, Hoi An, Thua Thien-Hue, Can Tho, Dalat and Phu Quoc will become the first tourist destinations to put into motion a pilot scheme for evening economy which is effective until 6 o’ clock in the morning. 

Preparations

Evening economy is a project that needs preparations and evaluation from different angles. Decision 1129 has offered a road map for implementing basic steps. It has also addressed every issue and assigned clear responsibility to specific industries and ministries. The deadline for completion is the fourth quarter of 2021. Obstacles concerning the limit of the time for doing evening business will be reviewed in line with the road map by the second quarter of 2021. Meanwhile, tax incentives applicable to nigh-time economy will be studied and reported in the second quarter of 2021.

As presented in the decision, economic development aside, security and safety will be ensured by the pilot scheme for setting up in the second quarter of 2021 the tourist police in several locations in order to handle issues relevant to security and safety of tourists.

The timetable is clear and the duties have been assigned to each agency involved as well as provincial/municipal authorities. In the context of the economic slump in 2020, cities and provinces in Vietnam whose income depends largely on tourism cannot revive their economic situation if the old way of doing business is maintained.

Cities will be allowed to fully reopen their doors to tourists. However, whether they will be successful remains an open question. It is obvious that the existing services have to find ways to renovate themselves to thrive again in the coming time. This is also a time for the Government to look inside and build a new economic blueprint: evening economy.

In this blueprint, municipal/provincial authorities will play many key roles, such as establishing and implementing programs/plans as well as other measures for boosting evening economy. Local governments are also expected to come up with proposals for evening economy development to be submitted to the competent authorities.

That evening economy is not successful everywhere is a known fact. However, it provides provincial/municipal governments with an opportunity to further bolster their economy after the pandemic and look at long-term economic future. 

Working together

Service providers which have to halt their business during the time of Covid-19 and are seeking new business forms may find the decision on night-time economy a cue for a way out.

 

Should enterprises wait for the pandemic to end to restart their business or should they have to live with the coronavirus? If the second choice is made, they need to come up with new services to sell to the market. This is also a time for enterprises to do market research and develop new services.

When it comes to the hospitality industry, after Vietnam has been recognized as a safe destination in the fight against the Covid-19 pandemic, the revival of the tourism market may materialize. This move can be preceded by boosting product development and bringing into full play idle labor.

In line with this, each tour guide should be a product researcher. They are those who best know the strengths and weaknesses of a tourism product or service.

Normally, they are too busy with daily chores. Now they have time to ponder over these issues. Now it’s time to engage them in the new races for new tourism conceptions and products. Certainly, it is tour guides who offers unique ideas in this regard.

Aside from new tourism products, other aspects should be taken into account, too.

Security is one of the first things to consider for nightlife. Tourists will feel unsafe if they visit a place at night informed that some theft or violence has taken place there. In other words, tourists want their personal security and safety to be guaranteed throughout their trips in Vietnam.

Next, trash on the streets must be cleaned completely after sleepless nights. There have been occasions in which streets were flooded with rubbish after a night full of tourists. In this regard, evening economy should not infringe daytime economy.

Residents of the location of evening economic activities should also be taken into consideration. To many of these inhabitants, the place they are living in is also a venue for livelihood. These people are really part of the spirit of the local evening economy. Therefore, they should be instructed about how to become a good part of the evening economy so that they can leave overriding impressions on visitors. Lifestyles of local inhabitants and the way they behave, if well cultured, will become a kind of special tourism products attractive to tourists.

What evening economy in Vietnam will be like? This question represents a wish in Vietnam when local entrepreneurs look at the world’s bustling sleepless cities.

At present, policies on night-time economy is already available. What needs to be done is state agencies, enterprises and communities work together to bring them to life. Whether Vietnam’s scheme for night-time economy will be successful depends on how we adhere to its initial target: economic development must also ensure social security and order.  SGT

Phan Thi Ngoc Thang

Vietnam urged to develop night-time economy

Vietnam urged to develop night-time economy

Vietnam has missed some economic development opportunities and should not ignore the chance to grow the night-time economy, according to economist Tran Dinh Thien.

How can VN night-time economy develop?

How can VN night-time economy develop?

Food and Music of An Bang Sea, a night event organized on An Bang Beach in Hoi An City in Quang Nam province last weekend, attracted many visitors.

 
 

Other News

.
Bac Lieu prioritises renewable energy
Bac Lieu prioritises renewable energy
BUSINESSicon  11/07/2021 

The Mekong Delta province of Bac Lieu has chosen renewable energy as one of its top priorities, aiming to restructure the economy towards green growth and sustainable development.

Vietnam - top destinations for ASEAN companies looking for growth opportunities
Vietnam - top destinations for ASEAN companies looking for growth opportunities
BUSINESSicon  11/07/2021 

The country continues to offer appealing business and investment opportunities given its strong fundamentals.

Vietnam FTA portal to be upgarded
Vietnam FTA portal to be upgarded
BUSINESSicon  11/07/2021 

The Vietnam Free Trade Agreement Portal (FTAP) with people and businesses at the center of its service is aimed at improving the quality and efficiency of Vietnam's FTAs implementation.

Online investment apps offering choice and clarity
Online investment apps offering choice and clarity
BUSINESSicon  11/07/2021 

The stupendous surge of retail investors across the globe has prompted digitally-led investment applications and online platforms to develop, as they look to automatically optimise their passive indexed portfolios.

E-commerce platforms to be connected with tax agencies from next year
E-commerce platforms to be connected with tax agencies from next year
BUSINESSicon  10/07/2021 

E-commerce platforms must be electronically connected with tax management agencies from the beginning of next year, not from next month, as the tax watchdog aims to better collect taxes from sellers operating on the platforms.

Hoa Phat to boost digital transformation through strategic collaboration with CMC Corporation
Hoa Phat to boost digital transformation through strategic collaboration with CMC Corporation
BUSINESSicon  12/07/2021 

Hoa Phat Group has chosen CMC Corporation as a strategic consulting partner to help accelerate its digital transformation journey in the next 5 years.

Technology comes to aid of HCM City small retailers amid COVID challenges
Technology comes to aid of HCM City small retailers amid COVID challenges
BUSINESSicon  10/07/2021 

Within a few hours of offering to sell vegetables online, Thanh Truc sold out her stocks and had to refuse orders.

VN agricultural exports hit record: achievements and worries
VN agricultural exports hit record: achievements and worries
FEATUREicon  12/07/2021 

Amid difficulties and disruptions caused by the Covid-19 pandemic, Vietnam's agricultural exports in the first 5 months of 2021 still reached $22.5 billion, up 30.1% year on year.

Vaccine passport: key for tourism during pandemic
Vaccine passport: key for tourism during pandemic
FEATUREicon  11/07/2021 

A vaccine passport is a new concept mentioned by many countries to open borders.

Industrial development needs State’s long-term vision
Industrial development needs State’s long-term vision
FEATUREicon  10/07/2021 

To develop the processing and manufacturing industry, the State needs to have stronger policies that focus on domestic enterprises. To have strong policies, it needs strong resources.

Vietnam needs more private corporations
Vietnam needs more private corporations
FEATUREicon  10/07/2021 

After over 30 years of Doi Moi (reform), Vietnam has had large private groups operating in many industries with international stature. There are also Vietnamese USD billionaires, but only a handful.

Vietnam should not be slow in opening its door: economists
Vietnam should not be slow in opening its door: economists
FEATUREicon  10/07/2021 

Prime Minister Pham Minh Chinh has said that Vietnam should not adjust the development goals and agrees with the two GDP growth scenarios designed by the Ministry of Planning and Investment (MPI).

Lychees and the agricultural revolution in Vietnam
Lychees and the agricultural revolution in Vietnam
FEATUREicon  09/07/2021 

Farmers in the northern province of Hai Duong have earned revenue of VND1,600 billion in the lychee season this year, the highest ever. 

VIETNAM BUSINESS NEWS JULY 10
VIETNAM BUSINESS NEWS JULY 10
BUSINESSicon  10/07/2021 

Pork imports surge during first half of 2021

Vietnamese aviation market forecast to recover from mid-Q3
Vietnamese aviation market forecast to recover from mid-Q3
BUSINESSicon  09/07/2021 

The Vietnamese aviation market is predicted to begin recovering by the middle of the third quarter with this year’s total estimated capacity of over 70 million passengers.

Real estate companies in dire straits under pandemic
Real estate companies in dire straits under pandemic
BUSINESSicon  10/07/2021 

Real estate companies in Vietnam are currently facing grave difficulties, with most localities implementing strict social distancing measures due to the outbreak of the fourth wave of the Covid-19 pandemic. 

VIETNAM BUSINESS NEWS JULY 9
VIETNAM BUSINESS NEWS JULY 9
BUSINESSicon  09/07/2021 

Vietnamese, German firms sign contract for supply of container cranes

Vietnam to solve bottlenecks to develop its auto industry
Vietnam to solve bottlenecks to develop its auto industry
BUSINESSicon  09/07/2021 

Limited market capacity and price differences between domestically produced cars and imported cars are the two biggest bottlenecks for the local auto industry, according to the latest report from the Ministry of Industry and Trade (MoIT).

Japanese banks take on strategic roles
Japanese banks take on strategic roles
BUSINESSicon  09/07/2021 

Given their financially sound cornerstone and professional know-how, Japanese megabanks are actively exploring sensible bolt-on opportunities of banks in Southeast Asia, including Vietnam, as a critical part of their international market expansion.

ADB helps boost Vietnam’s private sector development
ADB helps boost Vietnam’s private sector development
BUSINESSicon  09/07/2021 

The Asian Development Bank (ADB) has approved a 4.6 million USD technical assistance to help the Vietnamese Government to strengthen public-private partnership (PPP), private sector development, and state-owned enterprise (SOE) reform.

 
 
 
Leave your comment on an article

OR QUICK LOGIN