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Vietnam Business News May 16/2024

Vietnam’s textile sector brings in $37 billion in FDI

Police urge victims of Van Thinh Phat fraud case to speak up

The Ministry of Public Security is urging victims who bought bonds from Van Thinh Phat Group and three affiliated companies to provide information and documents to aid the ongoing investigation into a massive fraud scheme.

Proposal to build Da Nang Free Trade Zone to drive regional development

The free trade zone will implement experimental policies and mechanisms to attract investment to the area.

CNN hails Vietnam’s luxury train route

CNN Travel has published an article hailing a new luxury train route that connects the popular resort destinations of Nha Trang City in the southern coastal province of Khanh Hoa and Quy Nhon city in the southcentral province of Binh Dinh.

VN needs more solutions to stabilise gold market: public security ministry

With domestic gold prices skyrocketing in recent weeks, the central bank resumed gold bar auctions in late April, after a pause of 13 years, in a bid to rebalance the market through increasing supply.

Dong Thap to host lotus festival

The Mekong Delta province of Dong Thap will host its second Lotus Festival from May 16-19 at Van Mieu Park in Cao Lanh City.

Government tightens vessel control to fight IUU fishing

The Prime Minister asked competent ministers and chairpersons of local People’s Committees to focus on strictly carrying out solutions against IUU fishing, and detecting and settling VMS violations.

Parliament expected to ratify document on UK’s accession to CPTPP

The Government of Vietnam proposes the NA ratify the UK’s accession protocol at the 7th session of the 15th NA so that Vietnam will be one of the first six CPTPP countries to ratify it.

Main offenders in test kit bribery scandal appeal for lighter sentences

Former health minister Nguyen Thanh Long was sentenced to 18 years in prison for accepting bribes, the second heaviest sentence just after Viet A’s General Director

Livestock group opposes requirement on greenhouse-gas emissions inventory

Since livestock farming faces more difficulties than other business fields, adding livestock farms to the list of facilities subject to greenhouse gas emission inventories is not feasible, livestock industry leaders said.

Acting President receives foreign ambassadors

Acting President Võ Thị Ánh Xuân hosted receptions in Hà Nội on Wednesday for ambassadors of Armenia, New Zealand, Türkiye and Peru who came to present their credentials.

Filipino famtrip delegation surveys tourist attractions in central region

A famtrip group consisting of over 39 travel firms in the Philippines scoped out a range of tourist attractions in the central localities of Thua Thien-Hue and Da Nang from May 14 to May 15.

Female Vietnamese team wins gold at Asian Taekwondo Championship

Female Vietnamese athletes, including Chau Tuyet Van, Nguyen Thi Le Kim, and Lien Thi Tuyet Mai, won gold on May 15 in the women’s team poomsae (performance) event held at the Asian Taekwondo Championship in Da Nang.

Diverse activities to be launched at Nha Trang Sea Tourism Festival

The Nha Trang Sea Tourism Festival 2024 will take place from June 13 to June 16, with the event featuring a wide range of activities, according to details given by the Khanh Hoa Provincial People's Committee.

Two local destinations named among fastest growing tourist destinations in Asia

Sa Pa and Ha Long have both made the list of the five fastest growing tourist destinations in Asia, according to the world’s most popular travel guide Tripadvisor.

Deputy PM hosts Vice President of Huawei Asia Pacific

Deputy Prime Minister Tran Luu Quang hosted a reception in Hanoi on May 15 for Vice President of Huawei Asia Pacific Zhengjun Zhang.

New gold bullion auction slated for May 16

The State Bank of Vietnam (SBV) has announced a morning auction of 16,800 taels of its SJC gold bars in Hanoi on May 16.

30,000 businesses to receive support in international cooperation

The Vietnam Chamber of Commerce and Industry (VCCI) will concentrate on helping 30,000 businesspeople and enterprises with international connectivity and cooperation this year, its Chairman Pham Tan Cong has said.

Vietnam News Headlines May 16/2024

Thousands of people in HCMC join Lord Buddha procession

Experts urge to develop hydropower resource

The Government should increase the exploitation of hydropower in the context of increasing electricity demand as the potential of the resource remains large, experts said.