After 2022, the stock market will move toward sustainable development, Deputy Finance Minister Nguyen Duc Chi said at a conference held by the State Securities Commission (SSC) to review the Vietnamese stock market in 2022 and deploy tasks for 2023.

The Deputy Minister highly appreciated the results achieved by SSC, adding that in 2022, the securities industry has strengthened supervision, inspection, and examination, thereby detecting and strictly handling violations.

"This is what we did well in the past year and was recognised by the market, contributing to the enhancement of confidence in the market and creating a premise for more transparent and sustainable development," Chi said.

Although the stock market struggled and was under significant pressure from international market movements, with correction sessions, it was still regarded as an attractive market in comparison to others in the region in 2022, as foreign capital flows returned strongly in the final months of the year.

Under the close direction of the Government and the Ministry of Finance (MoF), has completed the assigned tasks, increased inspections on illegal acts, strictly handled manipulation activities of securities prices, stabilised investor sentiment, and helped increase market liquidity.

According to the Deputy Minister, after 2022, the stock market will head toward sustainable development. As a result, solutions must be implemented to ensure that the market develops substantively and sustainably, increases liquidity, and continues to be an important capital channel for the economy in 2023.

Chi recommended that the SSC concentrate on examining the Securities Law to update it to reflect current market conditions, creating a strategy to implement the Securities Market Development Strategy until 2023, and continuing to implement disciplines at a higher level.

The commission also needs to improve service quality, ensure timely and legal regulations, focus on applying the KRX project, strengthen the human capacity of SSC, exchanges, and the Vietnam Securities Depository Center (VSD), and enhance communication about the market as well as policies so that market participants always have full and timely access to official information from SSC and exchanges.

As of December 23, the market capitalisation of three exchanges: the Ho Chi Minh Stock Exchange (HOSE), the Ha Noi Stock Exchange (HNX) and UPCoM, was estimated at nearly VND5.3 quadrillion (US$223.2 billion), down 32 per cent over the end of last year and equivalent to 62.2 per cent of GDP, according to SSC. The market size of listed shares continued to grow.

By the end of November, the market's listed and registered trading scale reached VND1.97 quadrillion, a gain of 13.26 per cent compared to the end of 2021, with 757 shares and fund certificates listed on the two main exchanges and 859 shares traded on UPCoM.

On the bond market, during the same period, the market had 447 listed bond codes with a value of over VND1.7 quadrillion, up 10.7 per cent over last year and equivalent to 20.1 per cent GDP.

The number of new accounts more than doubled despite the sharp downtrend in the market. Generally, in the first 11 months of 2022, domestic retail investors opened more than 2.48 million new accounts, about 2.58 times higher than at the end of last year.

The total number of securities accounts in Viet Nam was nearly 6.8 million, up 57.7 per cent compared to the end of 2021. Of which, the number of domestic investor accounts reached 6,755 million, an increase of 58.18 per cent and the number of foreign investor accounts was 42,458, a rise of 7.46 per cent compared to the end of 2021. 

National action plan to be built to implement circular economy

A national action plan will be built to implement a circular economy to promote the management and efficient use of natural resources and reduce environmental pollution amid climate change in Vietnam by 2030.

The action plan building is among the tasks of the Institute of Strategy and Policy on Natural Resources and Environment (IPONRE) under the Ministry of Natural Resources and Environment (MoNRE) for 2023.

Addressing IPONRE’s conference in Hanoi on December 29, MoNRE Deputy Minister Vo Tuan Nhan highly valued the institute’s performance in 2022 and requested that in 2023, it review the 10-year implementation of the Party Central Committee’s Resolution 24-NQ/TW on proactive response to climate change and enhancement of natural resources management and environmental protection.

Another task for next year is to press on with the performance of scientific and technological duties, he said, noting that results of those duties must truly contribute to the perfection of policies on environmental protection and climate change response, as well as the ministry’s management activities.

IPONRE also needs to step up consulting services, especially those for natural resources and environment planning and the assessment of the plans’ environmental impacts, he added.

IPONRE Director Nguyen Dinh Tho said as a body in charge of studying, proposing, and making strategies and policies on the fields within the MoNRE’s remit, the institute has carried out many fruitful activities in 2022. In particular, it has drafted the Prime Minister’s decision on issuing the national action plan on implementing a circular economy.

VinaCapital becomes Vietravel’s major shareholder

Vietnam Travel and Marketing Transport JSC (Vietravel), whose VTR shares are traded on the Unlisted Public Company Market (UPCOM), announced today that VinaCapital Fund Management JSC has become its major shareholder.

Vietravel Holdings, the largest shareholder of Vietravel that is holding 7.04 million VTR shares or a 40.68% stake in VTR, on December 23 transferred 1.78 million VTR shares, or a 10.3% stake to VinaCapital, at VND24,000 per share. This transaction made VinaCapital a new large shareholder of the Vietnamese travel firm.

Tuyen Quang to build VND6.8-trillion expy to Ha Giang

The northern upland province of Tuyen Quang has passed a plan to develop the Tuyen Quang-Ha Giang expressway project, with a total investment of VND6.8 trillion.

Of the total capital, nearly VND4.5 trillion will be sourced from the central State budget, while the remainder will come from the local budget.

The project, whose investor is the Tuyen Quang Management Board for Investment and Construction of Traffic Projects, will be executed between now and 2025.

The expressway will be 77 kilometers long and have two lanes, starting at the intersection between the Tuyen Quang-Phu Tho expressway and National Highway 2D in Tuyen Quang Province’s Yen Son District and ending in Ha Giang Province.

Once in place, the expressway will facilitate the transport of goods, enhance connectivity between Tuyen Quang and Ha Giang provinces and boost the two localities’ socioeconomic growth, the local media reported.

Vietnam to build areas for producing animal feed ingredients

Vietnam will build areas for producing animal feed ingredients with the aim to reduce reliance on imports, said Director of the Ministry of Agriculture and Rural Development’s Livestock Production Department Duong Tat Thang.

Director Duong Tat Thang made the statement at a conference to implement the 2023 plan for the livestock industry held by the Ministry of Agriculture and Rural Development yesterday.

According to the direction of the Ministry of Agriculture and Rural Development, the Department of Livestock Production and units of the Ministry of Agriculture and Rural Development will coordinate with a number of corporations to deploy a model of joint production of animal feed and feed ingredients in Central Highlands provinces, said Mr. Thang. At the same time, these above-mentioned ministries, departments and units worked with a number of other advantageous localities to develop animal feed ingredients, step by step proactively domestic raw materials to reduce the dependence on imported animal feeds.

Livestock in Vietnam is growing strongly, but each year it has to spend up to US$9 billion-$10 billion to import agricultural products and raw materials for animal feed of all kinds.

The country presently has a total herd of about 28.6 million pigs, up 3.2 percent; 531 million poultry, up 1.4 percent; roughly 6.53 million cows, up 1.9 percent; plus, live meat production reached about 7.05 million tons, up 4.8 percent compared to 2021.

However, according to Mr. Duong Tat Thang, the country’s livestock sector is facing fluctuations in the supply of animal feed; therefore, the country has to import from foreign countries.

Because of dependence on imports with many price fluctuations and transportation costs, the cost of livestock is high due to the cost of animal feed accounting for about 70 percent; worse, the disruption of the supply chain is likely to happen.

Mr. Thang disclosed that the domestic supply of input materials for animal feed such as corn, and soybean is only about 30 percent-35 percent .

Therefore, the solution is to review each kind of livestock for the proactive supply of the feed ingredient source by closely coordinating with businesses to deploy models of association for animal feed production, said Mr. Thang.

Meanwhile, Deputy Minister of Agriculture and Rural Development Phung Duc Tien suggested that along with ensuring enough food for the domestic market, it is necessary to aim at promoting exports because the potential is huge. Currently, the livestock industry has only a few products that are enough for export, such as bird's nests to China, chicken to Japan, pork and suckling pig to Hong Kong (China), and thin pork to Korea.

A leader of the Ministry of Agriculture and Rural Development said that creating an open market is the driving force to remove difficulties for the current livestock industry and towards growth.

Vietnam is tending to increase the import of animal feed. In 2021, Vietnam spent nearly US$10 billion buying animal feeds. In the first 11 months of 2022, it is estimated that the Southeast Asian country has imported about $8.9 billion of animal feed, poultry and all kinds of raw materials.

According to the Animal Husbandry Association of Vietnam, with an average growth rate of about 11 percent-12 percent, in the next 5 years, Vietnam needs about 28-30 million tons of raw materials for animal feed production each year.

It is forecasted that in the near future, if it cannot control domestic sources, on average, Vietnam has to import up to $12 billion-$13 billion of raw materials for animal feed production each year.

Supreme People’s Procuracy commended for settlement of corruption cases

The Supreme People’s Procuracy (SPP) held a conference on December 28 to launch tasks for 2023, with the attendance of President Nguyen Xuan Phuc.

The SPP reported that in 2022, the procuracy sector has worked closely with other agencies to launch investigations into nearly 87,000 criminal cases, up 2.4% from last year.It has surpassed all the targets for the settlement of crime denunciations and investigations. Notably, the rate of recovered assets in corruption cases reached 89%, up 29% from the target.In particular, the number of uncovered and investigated cases relevant to corruption, economic wrongdoings, and power abuse has surged, including major cases involving businesses such as Viet A, AIC, FLC, Tan Hoang Minh, and Van Thinh Phat.

Applauding the SPP’s performance in 2022, President Phuc, who is also head of the Central Steering Committee for Judicial Reform, highly valued its concerted implementation of drastic measures to opportunely and stringently deal with many big cases of corruption, economic wrongdoings, and abuse of power, raise the rate of recovered assets, and address consequences, which have been recognised by the Party, State, and people.

He also commended the SPP’s coordination with the Ministry of Public Security, the Supreme People’s Court, and localities to properly carry out the State President’s amnesty decisions, helping win over people and the international community’s high evaluation of Vietnam’s leniency policy.It has also worked with agencies to negotiate and sign agreements on mutual legal assistance in criminal matters with other countries to serve the fight against transnational and non-traditional crimes and the recovery of corrupt assets.

To bring into play achievements and tackle shortcomings, President Phuc asked the SPP to quickly build programs and plans for implementing the tasks and measures identified in the Party Central Committee’s Resolution No 27-NQ/TW on the continuation of building and perfecting a law-governed socialist State of Vietnam.

It should further enhance its prosecution role and responsibility; coordinate with other prosecution bodies for corruption investigations and hearings, especially those under the supervision of the Central Steering Committee for Corruption and Negative Phenomena Prevention and Control; step up asset recovery; and minimize the criminalization of civil and economic relations.

Besides, the procuracy sector needs to actively work with the Government, the Ministry of Public Security, the Supreme People’s Court, and the State President’s Office in making and submitting amnesty decisions to the President, according to the leader.He also requested the SPP to reorganise its apparatus in a lean, efficient and effective manner, and tighten discipline to improve the quality of its operations.

HCMC’s 85 outstanding industrial, supporting industry products in 2022 announced

The Ho Chi Minh City Industry and Trade Department has just introduced the list of 85 excellent industrial and supporting industry products of the city in 2022.

In 2022, the Organization board of the voting program for prominent industrial and supporting industry products received 97 nominations from 52 businesses. After careful review and evaluation, the Judge board agreed upon 85 products from 49 enterprises.

The HCMC Department of Industry and Trade is in charge of announcing related information on this voting program, the results, as well as collecting feedbacks from both businesses and visitors of its official website and the website of the Supporting Industry Development Center.

This voting program is an annual activity chaired by HCMC People’s Committee and co-held by the HCMC Industry and Trade Department, related units.

Before this, HCMC People’s Committee released Dispatch No.1665/UBND-KT on May 20, 2022 about approving the plan and budget to organize a program to improve the administration level, production performance, product quality management for enterprises in the supporting industry in 2022.

This program offers a chance for domestic companies of this industry to update their professional knowledge and apply advanced management tools into boosting the level of their human resources, the ability to manage production, to continuously supply goods, and to gradually join in the end-to-end supply chain of domestic and foreign industrial manufacturers.

Vietnam prepares for export promotion as China plans to open doors again

According to information from the South China Morning Post, the Chinese Government will open its borders and completely remove isolation measures to prevent the Covid-19 pandemic from January 8, 2023.

The Ministry of Agriculture and Rural Development (MARD) and the Ministry of Industry and Trade (MoIT) consider this an opportunity to promote Vietnam's agricultural, forestry, and fishery exports to China again.

Ms. Le Hang, Communications Director of the Vietnam Association of Seafood Exporters and Producers (VASEP), predicts that seafood export orders to China after the country opens its border will boom like exports to the EU and US markets after the Covid-19 pandemic in 2020 and 2021.

On December 27, the MARD said that it has been coordinating with the MoIT to implement several trade promotion programs, market opening negotiations, and market development to promptly solve problems to promote agricultural, forestry, and fishery exports to China; promote circulation and border trade; guide the implementation of the provisions of Decree 248 and 249 of the General Administration of Customs of China; prepare to organize trade delegations, promote the supply chain of Vietnamese fruits and seafood in China; negotiate and complete the procedures for exporting feathers, edible bird’s nests, and products from edible bird’s nests, milk and dairy products, durian, and sweet potatoes to China.

40 percent of Vietnamnese exporters benefit from EVFTA

Forty percent of Vietnamese enterprises exporting to the EVFTA market benefit from tariff preferences for import and export goods, thereby increasing orders, revenue, and profits.

The Ministry of Industry and Trade, on December 27, held a conference to review the two-year implementation of the EU-Vietnam Free Trade Agreement (EVFTA).

After two years of implementing the agreement, Vietnamese goods exports to the European Union have changed positively, not only focusing on major gateway markets, such as Germany, the Netherlands, and France, but are also gradually promoted to niche markets in Northern Europe, Eastern Europe, and Southern Europe.

Currently, 40 percent of Vietnamese enterprises exporting to the EVFTA market benefit from tariff preferences for import and export goods, thereby increasing orders, revenue, and profits.

Credit grows 12.87 percent in 2022

The State Bank of Vietnam (SBV), on December 27, held a press conference on the implementation of tasks of the banking sector in 2023 in Hanoi.

Regarding the mission orientation for 2023, the State Bank of Vietnam continues to closely follow the resolutions of the Party, the National Assembly, the Government, and the direction of the Prime Minister, and closely monitor the developments and the situation of the world and domestic economy to operate prudently, flexibly, and synchronously with monetary policy tools, closely coordinate with fiscal policy and other macroeconomic policies to contribute to controlling inflation at around 4.5 percent, stabilizing the macro-economy, and ensuring the major balances of the economy.

The SBV will also implement solutions to stabilize the monetary and foreign exchange markets and ensure the safety of the banking system; regulate the monetary market reasonably; operate interest rates and exchange rates in line with market conditions, macroeconomic developments, and monetary policy objectives.

Travel agents offer various holiday packages to attract tourists

Travel agencies offered a range of holiday packages to attract domestic and foreign tourists on the occasion of the Lunar New Year 2023.

According to a number of travel companies in Ho Chi Minh City, up to now, about 90 percent of visitors decided to book their tours for the Lunar New Year 2023. Travel agents offered diverse three-day package tours and five-day package tours in provinces in addition to one-day tours from Ho Chi Minh City to the Mekong Delta provinces preferred by customers.

Specifically, the tours from Ho Chi Minh City to the southern provinces of Binh Duong, Long An, Tien Giang of travel companies Saigontourist, Vietravel, TTTourist were all full.

Moreover, travel companies also offer customers a most suitable tailor-made itinerary to suit customers’ style, taste and budget.

According to travel agency Saigontourist, this year's Lunar New Year, there are 300 domestic and foreign tours available for customers and it can serve more than 20,000 visitors. Besides the familiar tours to Phu Quoc, Nha Trang, and the provinces of the East and Northwest of Vietnam, some overseas tours are also very attractive. The company also launched a tour to South America. Ms. Tran Phuong Linh, Marketing and Information Technology Director of BenThanh Tourist, said that the company has prepared more than 100 tour programs during Tet 2023 ( the Lunar New Year) to attract about 10,000 visitors with an expected domestic tour occupancy rate is about 90 percent.

Holiday companies in the Central Province of Thua Thien - Hue, in addition to preferential promotions, also launched many new products and tours in order to make the most of activities at the Spring Festival ‘Spring Ancient Capital’ taking place from January to March 2023 with the highlight - the opening program ‘Four seasons of Hue Festival 2023’ and the reenactment of the Nguyen Dynasty Ban squirrel ceremony at the Hue Imperial Citadel.

Some travel businesses also take advantage of the interference between royal and folk Tet customs to create a distinctive feature of ‘Tet Hue’ to build a new tour. A representative of the Tourism Promotion Information Center of Thua Thien - Hue Province said that, along with royal festivals, traditional festivals, and specific folk festivals, the Department of Tourism of Thua Thien - Hue Province is coordinating with the provincial Tourism Association building new services to serve holiday-makers to Hue on the occasion of the Lunar New Year 2023.

Mr. Nguyen Ngoc Anh, Chairman of Da Nang Travel Association, said that guests booking tours to Da Nang to visit and relax from December 2022 to January 2023 are expected to increase by 30 percent-40 percent compared to the previous month in 2022.

The People's Committee of the Central Highlands Province of Lam Dong said that it had just sent a telegram to departments and localities to request traffic safety during the New Year and Lunar New Year 2023. Accordingly, local administrations and departments of transport were assigned to control traffic flow on key routes, especially Bao Loc Pass, National Highway 20, Highway 27, gateways to Da Lat City, Lien Khuong airport, and bus stations.

At the same time, the committee required all transport business units, especially taxi companies, bus operators to run fixed routes and contracts strictly implement stopping, parking, picking up and dropping off passengers at the prescribed places. During the time of holidays and New Year, Da Lat city welcomes a large number of visitors in a few days, so traffic jams often occur in the central areas and the gateway to the city.

Previously, the People's Committee of Da Lat City in Lam Dong proposed to the Management Board of the Investment Project to build the Cultural and Sports Area and Da Lat College agreed to convert the school campus into temporary parking lots where holidaymakers can park their passenger cars and cars when they flock to Da Lat to participate in the ninth Da Lat Flower Festival in 2022 from December 18 to 31.

Elsewhere in the country, the Management Board of the tourist area in Phan Thiet City in the South-Central Province of Binh Thuan has planned to organize the inspection of rescue equipment, flags, buoys, and marine rescue means to well prepare for rescue work to save visitors who come to the province for a picnic and swim on the occasion of the New Year 2023 and the Lunar New Year of the Cat.

Vietnam's tourism and aviation partner for travel development

The time has come for tourism and aviation to quickly seize the opportunity to recover in the new context, turning Vietnam into a good destination and placing the country in a competitive position in the international market.

General Director of the Vietnam National Administration of Tourism (VNAT) Nguyen Trung Khanh emphasized the close and inseparable relationship between the two sectors, affirming that coordination with local airlines to develop domestic and international markets is a permanent task of VNAT.

Speaking at the conference, themed “Aviation - Tourism Cooperation: Connecting Global Destinations” held on December 27 in Danang, Khanh said that the two sectors should jointly map out policies to help their businesses overcome the impacts of Covid-19, recover and develop.

For the coming year, the tourism sector targets to welcome 110 million tourists, including eight million international. Total tourism revenues are expected to reach VND650 trillion (US$27.3 billion).

To achieve this goal, the sectors should focus on creating packages of combined tourism products with high quality and suitable prices, and exploiting main product lines.

Khanh said the two sides would jointly launch the "Live Vietnam Fully" promotion campaign to provide visitors with safe tourism and aviation activities and the best experiences, at the same time applying technology to improve the quality and efficiency of services, including e-ticketing systems, automatic access control systems, and many smart products.

To develop international aviation operations, Deputy Director of the Air Transport Division under the Civil Aviation Administration of Vietnam (CAAV) Bui Minh Dang said the agency will continue to update and exchange information with aviation authorities in China and India to legalize Vietnamese airlines in these countries.

To make the plan possible, Dang requested the government to put forth a proposal for high-level work programs with China and India.

He also recommended the government consider easing visa regulations for international tourists, including increasing the length of stay and expanding the list of countries eligible for visa exemption.

The CAAV official also expected policies that favor the development of other aviation services, such as sightseeing flights and private flights for groups of high-class tourists.

At the event, economist Can Van Luc said that it is necessary to speed up the disbursement of public investment and the 2022-2023 socio-economic recovery and development program while adopting policies to facilitate inbound tourism.

He added that the government needs to remove bottlenecks to improve access to credit for travel and accommodation businesses, refine the legal framework for the development of the digital economy and digital tourism, and remove legal problems for tourism property. 

Policies supporting the development of human resources should be another focus, Luc said.

Over 733 million tonnes of cargo handled at Vietnamese seaports

Vietnamese ports handled 733.18 million tonnes of cargo in 2022, up 4% from the previous year, an official said.

Of the amount, 179.07 million tonnes were exports, down 3%, 209.26 million tonnes were imports, down 2%, and 342.79 million tonnes were domestic cargo, up 12% year-on-year, according to Deputy Director General of the Vietnam Maritime Administration Hoang Hong Giang. Meanwhile, container throughput was estimated at 25.09 million TEUs, up 5%. 

The administration said the 4% rise was the lowest pace recorded in recent years, mainly due to the fact that production and trading have yet to completely recover and China’s “zero COVID” policy has affected corporate operations. 

However, silver linings have been seen in seaports in Hai Phong, Ho Chi Minh City and Ba Ria-Vung Tau, which were included on the list of the world’s top 50 ports with largest cargo throughput in 2022. Gateway seaports like Lach Huyen (Hai Phong) and Cai Mep (Ba Ria-Vung Tau) are now capable of receiving the world’s largest container ships of over 200,000 DWT.  

Regarding maritime transportation, Deputy Minister of Transport Nguyen Xuan Sang said the Vietnamese fleet is now able to fully meet domestic transportation demands.

Vietnamese ships transported about 1.29 million tonnes of cargo in 2022, up 10% year-on-year, mainly to and from China, Japan, the Republic of Korea (RoK), Southeast Asia and Europe.

Binh Duong posts over 9 billion USD in trade surplus in 2022

The southern industrial province of Binh Duong records a trade surplus of 9.1 billion USD this year, according to the provincial Statistics Office.

Head of the office Ngo Van Mit said despite unpredictable and complex developments in the economic and political situation in the world and the region, Binh Duong has seen good economic recovery, fulfilling 30 out of 34 yearly targets.

The average per capita GRDP of the province reached 166 million VND (more than 7,027 USD at current exchange rate) this year. The province collected an estimated 61.9 trillion VND for the State budget, equivalent to 91.4% of estimates.

A total 6,235 new enterprises were established in Binh Duong during the year, with total capital of 40.1 trillion VND. Foreign investors also poured 3.1 billion USD into the province as of December 15, a 48.8% increase year on year.

As for outstanding problems in the local economy, exports and industrial production have shown signs of slowing down in the second half of the year.

In the first half of the year, most socio-economic indicators of the province showed high growth rates compared to the same period last year. However, many difficulties arose in the second half. Exports were heavily affected, with export value dropping significantly from a monthly 3.3 – 3.4 billion USD in the first six months to 2.9 billion USD in July and further to 2.5 billion in November.  

Industrial production and exports are expected to face more difficulties in the first quarter of 2023 and beyond.

Besides, the disbursement of public investment capital in the province only reached 45.8% of the yearly plan as of the end of November.

Next year, the province will promote growth on the back of digital transformation and digital economy. Given the local strength in industrial production, Binh Duong will continue to consider industry its main economic driver, aiming for a 8.9% increase in the index of industrial production in 2023.

Hanoi records nearly 8.9% economic growth in 2022

Hanoi enjoyed annual growth of 8.89% in terms of gross regional domestic product (GRDP) in 2022, higher than the set target of 7% to 7.5%, according to details given by the Municipal Statistics Office.

This represents a high rate compared to the figure recorded in previous years, thereby showing the local administration’s determination and the strong efforts of local businesses, the office recently said.

The capital’s primary growth engine this year is industrial production and services, noted Dau Ngoc Hung, office director of the Municipal Statistics Office. He elaborated that the service sector has expanded 10.06% compared to last year, thereby contributing 6.44 percentage points to the overall GRDP growth.

Business, tourism, restaurant, hotel, transportation, and information activities have duly bounced back strongly as the capital moved in the post-pandemic period, thereby creating an impetus for trade and services.

Fast-growing services include logistics at 15.36%, information and communications at 6.5%; administrative activities and support services (including tourism) at 40.51%; finance, banking, and insurance at 9.19%; and wholesale and retail at 8.58%.

Meanwhile, the index of industrial production has increased by 8.8% from 2021, with the processing and manufacturing industry rising by 9% to retain its important role in common industrial growth.

These results are highly encouraging, mainly thanks to the resumption of supply chains by manufacturing firms after two years of enduring the COVID-19 pandemic, the Statistics Office went on to state.

This year has seen Hanoi earn US$17.1 billion from exports, up 10.3% on-year, compared to the 2.2% in 2021.

Most notably, textile and garment shipments have brought in US$2.57 billion, up 15.7%; computers, electronic products, and components US$2.52 billion, up 16.3%; machinery, equipment, and spare parts US$2 billion, up 1.6%; timber and wood products US$883 million, up 17.5%; and agricultural products US$871 million, up 12.2%.

About VND333 trillion, equivalent to S$14 billion, has been collected for the state budget, up 8% from the target and 2.7% from last year.

During the course of the year, Hanoi as attracted over US$1.69 billion in foreign investment, rising by 10.3%.

Furthermore, roughly 29,600 new enterprises have been licensed, up 23% from 2021, while their registered capital dropped 5% to VND328.4 trillion.

Along with this, 3,600 other firms were dissolved and 16,400 suspended operations, marking rises of 16% and 38%, respectively. In contrast, some 9,800 companies resumed operation, up 1.5%, data indicated.

BR-VT eyes over VND14t in 2023 tourism revenue

The southern province of Ba Ria-Vung Tau looks to welcome around 13.9 million visitors and earn some VND14.189 trillion in tourism revenue next year, according to the provincial Department of Tourism.

The provincial tourism authority set this goal partly based on the local tourism sector’s impressive performance in 2022, during which 12.6 million tourists visited the coastal province. Of this, the number of international tourists with overnight stays is estimated to reach nearly 155,500.

Besides, the province recorded a relatively high room occupancy rate this year, at over 95% on weekends and holidays. The tourism revenue exceeded VND13 trillion, the local media reported.

To achieve the 2023 goal, the local tourism authority has mapped out several measures such as enhancing the connectivity of travel products, attracting and exchanging tourists with provinces and cities that signed tourism cooperation deals with Ba Ria-Vung Tau, improving its existing tourism products and services; hosting festivals and events; and facilitating tourism promotion activities.

Action plan aims to boost growth of northern central, central coastal region

Deputy Prime Minister Vu Duc Dam has signed a decision issuing a Government’s action plan to implement the Politburo’s resolution on boosting socio-economic development and ensuring defence and security in the north-central central coastal region until 2030, with a vision to 2045.

The action plan aims to realise the goal set in the Politburo’s resolution, including boosting the region’s dynamic, fast and sustainable development with strengths in sea-based economy matching the potential and advantages of the region and regional localities, promoting science-technology and innovation growth and digital transformation, maintaining cultural, historical values and maritime ecosystem as well as ensuring social equality and improving locals’ income.

Specifically, in the 2021-2030 period, the gross regional domestic product (GRDP) growth in the region is expected to reach 7-7.5% each year. In 2030, the figure is hoped to increase 2.3-3 times over that in 2020, with industry-construction accounting about 40.7% and service about 37.5%. Meanwhile, the per capita GRDP is projected to reach about 156 million VND (6,604 USD).

Alongside, the region is hoped to make up about 20-25% of the country’s total State budget collection, while the urbanisation rate is expected to hit 47-48%. Over 90% of the total communes in the region are hoped to become new-style rural areas.

At the same time, the region will strive to raise the human development index to a higher level than the country’s average, with per capita income higher than that of the country by 1.2 times. The rate of trained labourers is expected to reach about 75%, and the percentage of poor households hoped to reduce by 1-1.5% per year. More than 95% of the population are expected to join health insurance.

To this end, the action plan rolls out various solutions, including raising public consensus in implementing the plan, completing relevant institution and mechanisms, fostering regional connectivity, and promoting the sea-based economy.

Particularly, the plan underlines the need for the region to focus on developing maritime economic sectors in association with ensuring defence and security at sea as well as boosting sea-based tourism and services.

Strong growth recorded in tra fish exports to ASEAN markets

A surge of 87% was seen in tra fish exports to ASEAN markets in the first 11 months of this year to 183 million USD, accounting for about 8% of total export revenue of the product in the period.

The Vietnam Association of Seafood Exporters and Producers (VASEP) reported that more than 45% of ASEAN's total tra fish imports came from the Thai market, with nearly 83 million USD.

Thailand was followed by Singapore, Malaysia and the Philippines with a rise of 50-93% year on year.

According to VASEP, compared to other regions, the ASEAN has seen a stronger growth with less impact from inflation in 2022.

Experts held that the ASEAN will continue to be an attractive market for Vietnamese tra fish thanks to advantages in close geographical distance, fewer logistics risks, and preferential tariffs under free trade agreements that Vietnam has signed with members of the group.

According to the Ministry of Agriculture and Rural Development, fishery exports reeled in 10.14 billion USD as of November this year, up 27% annually. Of the sum, tra fish and shrimp contributed 2.2 billion USD and 4.1 billion USD, up nearly 62% and 14.6% year-on-year, respectively.

HCM City to restore 31 monuments, relics through 2025

Ho Chi Minh City has plans to restore 31 monuments and relics across districts and Thu Duc city, including Tan Quy Dong communal house and Hung Loi ceramic kiln.

At a recent meeting, it was agreed by experts that many historical, cultural and artistic relics and monuments in HCM City have been seriously degraded, without capital allocated for repair and restoration.

Recently, the HCM City Department of Culture and Sports made a report on investment policies for eight urgent projects to submit to competent authorities. The total investment is estimated at 440 billion VND (18 million USD).

According to the city People's Committee, investors are coordinating with relevant agencies to prepare for the restoration of Giong Ca Vo, Chi Hoa communal house, History Museum, Giac Vien Pagoda, Xuan Hiep communal house and Binh Dong communal house.

Meanwhile, 12 projects are having their documents prepared for appraisal, including Tan Tuc communal house, Phu Lac communal house, Vinh Truong communal house, Cho Quan Hospital prison, Continental Hotel, Giac Lam Pagoda and Linh Tay communal house, among others.

The city has investment plans for 11 projects, including the national archaeological relics of the Hung Loi pottery kilns, Nam Tien communal house, Tan Quy Dong communal house, Vinh Hoi communal house, Tan Hoa Tay communal houses, Hoa Thanh communal house, Tan Hoi communal house, Xa Tan temple and Xuan Hoa communal house.

Due to limited budget, the city Department of Culture and Sports has worked with relevant authorities to look at the status of the Museum of Fine Arts Museum, Tan Quy Dong communal house and Hung Loi pottery kiln, among others, to make a list of priorities.

According to the city People's Committee, the Department of Culture and Sports is seeking approval to restore relics urgently while planning to mobilise funds from other capital sources in an effort to effectively preserve existing cultural heritage.

For projects using public investment capital, the Department of Planning and Investment advises the city to allocate 100 million VND to restore the Sai Gon - Cho Lon - Gia Dinh traditional area (phase 3); 100 million VND for the exhibition area of Ben Duoc martyrs; 50 million VND for the headquarters of the Vietnam People's Army Command; and 100 million VND for the national historical relics at Cho Quan Hospital, where General Secretary Tran Phu sacrificed his life.

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes