Vietnam Airlines has officially put tickets on sale for flights to Cambodia, Japan, and the United States, while Bamboo Airways has also begun selling tickets to Taiwan (China).

The route from Ho Chi Minh City to Phnom Penh will depart on January 1, 2022, with the ticket for departing and return flights priced at VND2.5 million and VND5.3 million, respectively, including taxes and fees.

Furthermore, the Hanoi - Narita (Japan) air route will begin on January 5, 2022, with airfares for departing and return flights sold at VND11.7 million and VND15.6 million, respectively.

Meanwhile, the Ho Chi Minh City - San Francisco air route will officially reopen on January 9, 2022, with tickets put on sale for VND21.2 million for departing flights and VND45 million for return flights.

Elsewhere, Bamboo Airways has sold tickets on the Hanoi - Taipei route, with flights departing on January 5, 2022, and tickets offered at VND4.5 million for the departing flight and VND12.5 million for the return journey.

The budget airline has been licensed to operate a frequency of one flight per week in the first phase. Its coming flights will fall on January 12, January 19, and January 26.

HCM City set to approve outdoor advertising plans

The HCM City government needs to have plans to develop outdoor advertising, experts said.

Nguyen Quang Nhut, head of the HCM City Outdoor Advertising Club, said outdoor advertising revenues account for about 20 per cent of the country’s total advertising spending of US$1.5-2 billion a year. But admittedly they have fallen by 30-40 per cent during the pandemic.

Tran Thanh Vuong of the City Department of Culture and Sports said for nearly 16 years the city has not had an outdoor advertising plan, and so hoardings and advertising board positions are not well organised.

At the event, many advertising enterprises raised questions about the status of outdoor advertising plans. It is expected to hold a meeting this week to approve the plans.

According to the city Department of Culture and Sports received 2,200 outdoor advertising applications in 2021, down 26 per cent from last year. But the numbers have been increasing since the lifting of COVID restrictions. 

Vietnam continues to reboot tourism next year

The Vietnamese tourism sector will embark on the tourism recovery and development scheme under the 2022-2023 socio-economic development programme next year.

It will also strive to complete the 2021-2030 tourism system planning with a vision to 2045 and submit it to the Government for approval, develop smart tourism via digital transformation toward the goal of serving 65 million visitors, including 5 million foreigners, and earning 400 trillion VND (17.39 billion USD) in revenue .

Data from the General Statistics Office as of December 29 showed that foreign arrivals in the country rose by 14.2 percent month-on-month in December as Vietnam has been piloting the serving of foreigners since November and international commercial flights have been restored.

Due to the COVID-19 pandemic, the number of foreign visitors to Vietnam slumped by 95.9 percent annually to 157,300, most of them were experts and technical workers working for projects in Vietnam. Almost all tour guides became unemployed while the capacity of lodging facilities only reached about 5-10 percent this year. 

Reference exchange rate down VND9 

The State Bank of Vietnam set the daily reference exchange rate at 23,145 VND/USD on December 30, down 9 VND from the previous day.

With the current trading band of +/-3 percent, the ceiling rate applicable to commercial banks during the day is 23,840 VND/USD and the floor rate 22,450 VND/USD.

Vietnam, Laos review one-stop-shop inspection model at border gate

Vietnam and Laos held an online meeting to review the pilot implementation of the one-stop-shop inspection model at the Lao Bao (Quang Tri) – Densavan (Savannakhet) border gate pair on December 29. Vietnamese Minister of Foreign Affairs Bui Thanh Son and his Lao counterpart Saleumxay Kommasith co-chaired the meeting.

The two sides issued a five-point joint communiqué, saying the pilot implementation of the model demonstrates the political resolve of the two Parties and Governments to facilitate trade and travelling of people and businesses of the two countries and other regional nations, contributing to boosting socio-economic development.

The joint communiqué stated that the Lao Bao – Densavan international border gate pair remains the first among seven mentioned in the Greater Mekong Subregion Cross-Border Transport Facilitation Agreement (GMS-CBTA) to implement the “one-stop-shop” inspection model, which not only holds significance to the fulfillment of obligations committed by relevant countries in the agreement but also brings in helpful experience in the application of the model in other border gate pairs.

Both sides expressed their determination to work closely together to map out appropriate solutions for the model future as well as dealing with existing difficulties.

Binh Thuan strives to optimise protected GI of dragon fruit in Japan

The dragon fruit of south-central Binh Thuan province was recently granted a protected geographical indication (PGI) certificate in Japan, which is said to create both opportunities and challenges.

The GI of “Thanh long Binh Thuan” (Binh Thuan dragon fruit) officially became protected in Japan on October 7 this year, making this fruit the second product of Vietnam to be given a PGI certificate in the North Asian country.

With a number of strict requirements in terms of production unit codes, quality, food safety, among others from Japan, the entire political system, from the provincial People’s Committee to departments, sectors, and the dragon fruit association, needs to engage in the management and development of this GI.

During 2016 - 2020, businesses in Binh Thuan exported nearly 32,000 tonnes of fresh dragon fruit worth 37 million USD via official channels. However, the volume accounted for only 2 - 3 percent of the total shipments, while the rest was exported via unofficial channels.

Export-import turnover up 123 billion USD in 2021

Export-import turnover hit 668.5 billion USD in 2021, up 123 billion USD compared to the previous year and posting the highest growth ever.

State budget collection from imports and exports posted a year-on-year expansion of 19.2 percent, heard the event.

Tax collection from exports-imports enjoyed a 19.2 percent growth to top 370 trillion VND (16.21 billion USD). The increase was driven by the surge in tax collection of some commodities like petrol, crude oil and iron ore.

Of note, the number of imported automobile grew 1.6-fold against that of the previous year, bringing in over 14 trillion VND in tax.

Vietjet adds flights to serve higher travel demand during Tet

Vietjet plans to increase flights on the Hanoi – Ho Chi Minh City route to 49 round trips per week, while those connecting Hanoi and HCM City with Da Nang will increase to 42 round trips per week until January 18, 2022.

From January 19, 2022, the frequency of flights will be raised to 112 round-trip flights per week on the Hanoi-HCM City route and 56 on the HCM City – Da Nang route.

The airline continues to maintain over 60 round-trip flights per week on domestic routes connecting Hanoi and HCM City with Hai Phong, Thanh Hoa, Vinh (Nghe An), Nha Trang (Khanh Hoa), Phu Quoc (Kien Giang), Quy Nhon (Binh Dinh) and others between now and January 18, 2022. The flight frequency on these routes will be doubled from January 19, 2022 to serve the holiday travel rush.

The upcoming Tet holiday will start on January 29 and last through February 6, 2022.

HCM City takes measures to promote smart tourism

Ho Chi Minh City will improve its public digital infrastructure and allow the private sector to engage in smart tourism solutions and mobilise investment resources for the sector as part of its efforts to develop smart tourism in the 2021-2025 period.

In the period, the city will launch technologies integrated with tourism service information, while building smart tourism apps on mobile devices which provide digital tourism maps and virtual tours and helps visitors plan their trips.

The city will continue to apply QR codes in introducing destinations, expand public wifi connections and build an information and entertainment service provision system - City4U.

Meanwhile, HCM City will build a database on tourism and visitors, while developing a tourism management system and a smart tourism operation centre.

Vietnam posts trade surplus of 4 billion USD in 2021

Vietnam enjoyed a trade surplus of 4 billion USD in 2021, marking the 6th consecutive year in a row the country's export turnover is higher than its import revenue.

This year, Vietnam’s total foreign trade turnover hit 668.5 billion USD, up 22.6 percent year-on-year, of which exports reached 336.25 billion USD, up 19 percent, and imports earned 332.25 billion USD, up 26.5 percent, Huong said at a press conference announcing socio-economic figures in the fourth quarter and the whole year.

In 2021, 35 commodities saw export turnover exceeding the 1 billion USD benchmark, accounting for 93.8 percent of the total turnover, in which eight products posted over 10 billion USD in export turnover, accounting for 69.7 percent.

The US was Vietnam’s biggest export market with a turnover of 95.6 billion USD, while China was Vietnam’s biggest import market with revenue of 109.9 billion USD.

In 2021, Vietnam’s trade surplus with the EU was estimated at 23 billion USD, up 12.1 percent year-on-year, while the country posted a trade deficit of 54 billion USD with China, up 53 percent.

Vietsovpetro set to produce over 2.9 mln tonnes of oil equivalent

The Vietnam – Russia oil and gas joint venture Vietsovpetro aims to exploit over 2.9 million tonnes of oil equivalent and 65.4 million cu.m of natural gas next year, according to the company.

The venture also aims to generate more than 1.3 billion USD in revenue from oil sales and nearly 190 million USD in profit while contributing 679 million USD to the State budget in 2022.

Ending 2021, Vietsovpetro’s oil output exceeded 3.16 million tonnes and natural gas output reached 82.3 million cu.m, surpassing the yearly plan by 5.5 percent and 7.4 percent, respectively.

Its oil and gas sales hit over 1.68 billion USD while profit totalled 282,5 million USD, 50 percent and 73 percent, respectively, higher than the plan. It contributed nearly 922 million USD to the State budget, 317 million USD higher than the goal, or 53.4 percent. Profit for both sides was 282.5 million USD, equal to 173 percent of the set target. 

Vietnam's 2021 CPI lowest in five years: GSO

Vietnam's Consumer Price Index (CPI) edged up 1.84 percent year-on-year in 2021, the lowest ever recorded since 2016, according to the General Statistics Office (GSO).

The CPI picked up compared to 2020 largely due to a 31.74 percent surge in fuel prices this year which made up a 1.14 percentage point increase in the overall CPI, GSO General Director Nguyen Thi Huong told a press conference in Hanoi on December 29.

The CPI hike was also driven by domestic retail prices of gas which have been revised up nine times throughout the year, expanding 25.89 percent year-on-year, she noted, adding that it contributed to a 0.38 percentage point rise in the CPI.

Wood sector surpasses export target despite COVID-19

Despite two official scenarios predicting wood and wooden products exports to rake in less than 14.5 billion USD this year due to the COVID-19 pandemic, the country's export revenue is now estimated at 14.72 billion USD.

Between January and November, Vietnam exported 7.93 billion USD worth of wood and wooden products to the US, an annual growth of 24.6 percent. The sector's shipments to China and Japan during the period earned 1.36 billion USD and 1.28 USD, increasing 26.6 percent and 11.2 percent against 2020, respectively.

Vietnam is currently the world's second biggest exporter of timber and wooden products. The wood sector groups more than 560 businesses, generating nearly 1 million jobs.

Vietnam, China seek solutions to cargo congestion at border gates

Vietnamese Deputy Minister of Foreign Affairs Nguyen Minh Vu has held phone talks with Chinese Assistant Foreign Minister Wu Jianghao to discuss measures to accelerate the circulation of goods through border gates between the two countries.

The talks took place amid the worsening cargo congestion at Vietnam-China land border gates.

Both sides agreed that the problem is causing great losses to people and businesses of both countries and affecting the bilateral trade partnership as well as the regional supply and production chains.

They shared difficulties in implementing COVID-19 prevention and control measures and promoting economic-trade recovery at the same time.

Vietnam and China agreed to maintain close communication and actively urge relevant ministries, sectors and localities of both sides to seek solutions to the current cargo congestion at border gates, while continuing to strengthen cooperation in pandemic prevention and control in the border gate areas.

Real estate market remains attractive despite COVID-19

The Vietnamese economy faces many difficulties this year due to the COVID-19 pandemic and the real estate market is no exception. However, the real estate market remains attractive and many segments are expected to become bright spots to accelerate the market growth in 2022 thanks to the flexible response.

Nei MacGregor, General Director of Savills Vietnam said the residential real estate segment still has advantages, especially those in urban areas will develop strongly while giving an assessment on the general picture of Vietnam’s real estate in 2021 and in the first months of 2022.

According to David Jackson, General Director of Colliers Vietnam, for individual investors, residential real estate in the suburbs of Ho Chi Minh City and Hanoi is a segment that worth considering in 2022. Specifically, products with reasonable prices, high quality of living space and utilities will be suitable choices for long-term investment.

Thua Thien-Hue earns ASEAN tourism awards

The central province of Thua Thien-Hue picked up three ASEAN tourism awards 2021, the provincial Department of Tourism announced on December 31.

Tourists wearing Vietnamese traditional costumes visit well-known destinations in Hue (Photo: To Quoc)
Prizes went to the Silk Path Grand Hue Hotel in the ASEAN MICE Venue Award category, while the ASEAN Green Hotel Award went to Vedana Lagoon Resort & Spa. In addition, the tour “Hue-One destination-Five heritages” of Hue Monuments Conservation Centre was presented with the award for ASEAN Best Sustainable Urban and Rural Tourism Products.

The provincial Department of Tourism stated that the prizes will be presented at the ASEAN Tourism Forum (ATF 2022), which is scheduled to take place in Cambodia in January next year.

The ASEAN Tourism Awards is held annually to highlight localities' contribution to the sustainable development of high-quality tourism destinations, tourism products and services in the region.

New regulations on origin of goods comes into effect in February

Decree No.111/2021/ND-CP amending and supplementing Decree No.43/2017/ND-CP will come into effect on February 15, 2022 providing new rules on goods labelling.

According to Decree 111, manufacturing, exporting, and importing organisations and individuals will have to record the origin of their goods by themselves, ensuring truthfulness, accuracy, and compliance with legal provisions on the origin of goods exported from, imported to, and manufactured in Vietnam or any countries participating in international commitments to which Vietnam is a party.

Notably, the origin of goods indicated on the label is shown by one of the following phrases: "made in"; “manufactured in”; “producing country”; "origin"; "made by"; “product of” accompanied by the name of the country or territory producing the goods. The new decree added the phrase “product of”.

HCMC’s 2021 GRDP plunges 6.78%

HCMC’s gross regional domestic product (GRDP) in 2021 tumbled 6.78% year-on-year, the sharpest fall ever, according to the municipal Statistics Department.

A report delivered by the department at a press briefing held on December 29 to announce the city’s socioeconomic performance this year showed that the city’s GRDP in 2021 was some VND1.3 quadrillion. The contraction of 6.78% was much lower than the 5.06% decline estimated in September and the 1.39% growth last year.

HCMC has been facing the greatest impact of the fourth Covid-19 wave. In October, the city started reopening its economy, but the GRDP in the last quarter of the year was equal to 88.36% of the figure in the same period the previous year. In other words, the city’s economy in the last quarter shrank 11.64% year on year.

Number of Hanoi-based firms completing dissolution up 22%

The number of firms completing procedures for business closure in Hanoi City this year rose by 22% against last year at 3,075, while over 13,140 companies suspended their operations, up 29% compared with last year’s figure.

Besides, more than 3,530 firms halted their operations pending dissolution in 2021, up 20% year-on-year, Do Anh Tuan, director of the Hanoi Department of Planning and Investment, told a conference held by the Hanoi government on December 29.

The city saw nearly 11,000 firms return to the market in 2021, soaring by 80% against the year-ago figure, while over 24,000 firms were newly established, with total pledged capital of VND345 trillion, down 9% and 16% year-on-year, respectively.

Hanoi’s gross regional domestic product in 2021 inched up 2.92% year-on-year, well below the 7.5% target, Tuan said.

As of December 27, the city’s budget revenue had inched up 4.6% against last year at VND261.8 trillion, exceeding the target set by the Government by 11% and the target set by the city by 4%.

Vietnam sets record in agro-forestry-fishery export this year

Vietnam’s agro-forestry-fishery export revenue has hit a record high of US$48.6 billion this year, well above the US$42-billion target set by the Government.

Of the agro-forestry-fishery export value, which has soared by 14.9% year-on-year, the main agricultural products account for over US$21.5 billion, whereas the figures for forestry and fisheries are US$16 billion and over US$8.9 billion, respectively.

Six groups of products, including woodwork, vegetables and fruits, shrimp, rubber, cashew nuts and rice, have brought export revenues of over US$3 billion each.

In 2021, the added value of the agricultural sector has edged up 2.85%-2.9%, while the total forest coverage has jumped to 42%, the local media reported.

VND19 trillion worth of goods prepared for Tet shopping spree in HCMC

The HCMC Department of Industry and Trade has worked with other provinces and enterprises to prepare goods supplies worth over VND19 trillion for the upcoming Tet holiday, said Bui Ta Hoang Vu, director of the department.

At a seminar on goods supplies and prices in HCMC held by the Government Portal on December 28, Vu said after three months of the city economy being reopened, production and business activities had gradually returned to normal.

Wholesale and retail sales of goods and services increased from VND43 trillion in October to VND55 trillion in November and are expected to top VND66 trillion this month, he said.

Hanoi’s CPI inches up 1.77 percent in 2021

The consumer price index (CPI) of Hanoi grew by 1.77 percent year on year in 2021, a low level compared to the figures recorded in recent years, according to the municipal Statistics Office.

In December alone, the index dropped by 0.21 percent monthly but increased by 2.55 percent from a year yearlier.

Compared to the previous month, a downturn was seen in four groups of goods, including transport (1.69 percent); housing, electricity, water and building materials (0.75 percent); education (0.44 percent) and post and telecommunications (0.01 percent).

By contrast, the prices of the remaining seven groups rose. The highest growth was seen in food and restaurant services (up 0.37 percent) as well as beverage and cigarette (0.19 percent), as consumption demand was higher for the year-end period and upcoming Lunar New Year holiday.

The prices of culture-entertainment-tourism group were 0.16 percent higher the previous month as a result of the city’s reopening of many tourism destinations./.

Source: VNA/SGT/VNS/SGGP/VOV/ND/VIR

VIETNAM BUSINESS NEWS DECEMBER 29

Vietcombank waives all money transfer fees from January 1