The number of newly established firms reached an all-time high of around 15,000 in April, with total registered capital of VND164.1 trillion (US$7.1 billion), according to the General Statistics Office (GSO).

The number of re-opened firms was 7,034, up 22.4 per cent year-on-year.

Meanwhile, 5,391 firms temporarily ceased operation, 3,762 were in the dissolution process, and 1,227 completed dissolution procedures.

In total, the number of firms entering the market was double the number of those withdrawing from the market in April.

Viet Nam saw 49,591 newly-formed firms in the first four months of 2022, with total registered capital of VND635.3 trillion ($27.6 billion), around 12.3 per cent higher than the figure in the same period last year.

The GSO underlined the proliferation of new businesses as a sign of economic recovery, indicating that supportive policies of the Government and National Assembly have been on the right track and begun to take root.

HCM City kicks off new helicopter service

The first helicopter tours took off over Ho Chi Minh City on April 29, carrying 30 passengers.

The flights were organised by TST Tourist and the municipal Department of Tourism in coordination with Military Hospital 175 and the Southern Vietnam Helicopter Company (VNH South). One took off from Tan Son Nhat airport and the other from the 8th storey of the hospital.

At a ceremony held for the first group of passengers, Le Truong Hien Hoa, Vice Director of the municipal Tourism Department, said the tours form part of the “Welcome to Ho Chi Minh City” programme developed to attract domestic and foreign tourists.

The operation of the helicopter service sees the department working to connect leading travel firms in the country to build tours suitable for visitors and organise promotions. Military Hospital 175, meanwhile, provides helipads and ensures medical safety for passengers. VNH South is responsible for the schedule, flight safety and flight regulations in accordance with Ministry of Defence regulations.

The tours include short flights (30-45 minutes) over the centre of HCM City and Can Gio district; and mid-range flights (60 minutes) from HCM City to the Endless Field Tourism Area in the Mekong Delta province of Long An. Prices range from 4 to 5 million VND (174 – 272 USD).

Saigontourist, Vietravel, Fiditour – Vietluxtour and TST Tourist are offering the service. They reported that for the upcoming April 30-May Day holidays, 200 people have booked tours.

April’s CPI increases 0.18 percent

The consumer price index (CPI) in April rose 0.18 percent over the previous month and 2.64 percent year on year, according to the General Statistics Office (GSO).

The office said that increases in the prices of construction materials, catering and tourism service, and the recovery in education service cost after a period of applying tuition reduction in many localities after COVID-19 is controlled are among factors causing the rise in CPI.

The average CPI for the first four months of this year rose 2.1 percent year on year, higher than 0.89 percent recorded in the same period last year, but lower than the increases in the January-April period in 2017-2020. The core inflation was also up 0.97 percent.

In April, among 11 major groups of goods and services, eight saw an increase in prices, while three others saw a decrease.

The head of the GSO said that the hike in petrol prices is the major factor pushing up CPI in the first four months of this year, adding that so far, domestic petrol prices surged 48.84 percent year on year, which led to 1.76 percentage points rise in CPI.

Following the petrol price, gas price also increased 24.6 percent year on year, contributing to pushing the CPI up by 0.36 percentage points.

Meanwhile, the price of materials for house upgrading in four months increased 8.51 percent, while that of rice went up 0.98 percent, and restaurant service was up 3.17 percent.

On the other hand, in the first four months of this year, downturn was seen in the prices of food (0.94 percent), processed meat (4.48 percent), education service (3.93 percent).

Domestic gold price rose 0.73 percent over the previous month and 12.28 percent year on year in April, and 5.56 percent year on year in the first four months of 2022. Meanwhile, USD price in Vietnam also saw year on year rise of 0.64 percent in April and 0.66 percent in January-April period./.

Foreign arrivals up 2.4 times in April

April international arrivals in Vietnam soared 2.4 times from March and 5.2 percent from the same period last year thanks to the country’s tourism reopening and international flight resumption, according to the General Statistics Office of Vietnam (GSO).

In the first four months of this year, the number of foreigners arriving in Vietnam neared 192,400, an annual rise of 184.7 percent. Of the total, 88.6 percent came by air, increasing close to four times from 2021.

During the period, tourism revenue from lodging-food and transport services grew by 5.2 percent and 10.5 percent on-year, respectively.

In May, Vietnam will host the 31st Southeast Asian Games (SEA Games 31) with the participation of all the 11 regional countries that are sending large delegations of athletes, officials and reporters.
 
Southeastern region oriented towards dynamic development

Planning in the southeastern region for the 2021 - 2030 period, with a vision to 2050, will be conducted with the aim of developing it into a dynamic region that takes the lead in growth model reform.

The planning task was recently approved by Deputy Prime Minister Le Van Thanh.

According to the decision, the southeastern region covers land, islands, archipelagoes, underground, and the seas and skies under Vietnam’s sovereignty, sovereign right, and jurisdiction in six localities: Ho Chi Minh City and the provinces of Dong Nai, Binh Duong, Ba Ria - Vung Tau, Binh Phuoc and Tay Ninh.

Regional planning must be in line with the goals and orientations set in the country’s socio-economic development strategy for 2021 - 2030 and development plan for 2021 - 2025, the national strategy on green growth and sustainable development, the strategy for sustainable development of Vietnam’s maritime economy, as well as international treaties to which Vietnam is a party.

The planning work must ensure development across the region, environmental protection and climate change adaptation; reasonably and effectively allocate, exploit and use natural resources; preserve local historical, cultural and natural heritages; and minimise adverse socio-economic and environmental impacts on local communities.

Other policies also need to be taken into consideration during the planning process to promote development in disadvantaged areas and guarantee sustainable livelihoods for local people, the decision noted.

The Ministry of Planning and Investment is responsible for chairing and coordinating with other ministries, agencies and local administrations to perform the task.

Singapore interested in energy cooperation with Vietnam

Singapore wants to further promote cooperation with Vietnam in clean and renewable energy, Singaporean Ambassador to Vietnam Jaya Ratnam said at a recent working session with Deputy Minister of Industry and Trade Dang Hoang An in Hanoi.

Deputy Minister An appreciated Singapore’s suggestion on furthering the bilateral partnership in energy.

The two sides took note of the progress of bilateral collaboration in industry and energy.

They shared the view on the need for a sustainable platform for energy cooperation toward joint response to climate change and sustainable development in accordance with commitments at the COP26.

The two sides agreed to maintain the exchange mechanism in order to put forth specific ideas on energy cooperation.

Restoration efforts help promote sustainable fisheries growth

According to the Directorate of Fisheries under the Ministry of Agriculture and Rural Development, the Vietnamese fisheries sector has expanded greatly, with export revenue reaching nearly 9 billion USD per year.

With joint efforts of the directorate, localities and community, the restoration of fisheries resources has been on a right track.

Fishermen and coastal communities’ awareness of conserving and restoring fisheries resources and biodiversity protection has been improved.

Efforts to regenerate fisheries resources and protect the environment will also contribute to enhance the prestige of the sector and maximise its potentials and advantages, the directorate stressed.

It added that the protection and regeneration of resources will ensure harmony in the overall development of the fisheries sector, as well as the livelihoods of coastal community.

Vietnam’s frozen sapodilla fruit promoted in Australia

Vietnam’s frozen sapodilla was the highlight at a trade promotion event held by the Vietnam Consulate General in New South Wales, Queensland and South Australia, and the Vietnam Trade Office in Australia at Paddington Market in Sydney on April 30.

The event was occasioned by the first time that a major shipment of frozen sapodilla from Vietnam has been exported to the Australian market.

Consul General of Vietnam in New South Wales, Queensland and South Australia Nguyen Dang Thang said as Vietnam and Australia have brought the COVID-19 pandemic under control, bilateral trade has resumed and grown robustly.

Farm produce exports of Vietnam to Australia in the first quarter of 2022 surged more than 30 percent against the same period last year. Two-way trade surpassed 12.4 billion USD in 2021.

In addition to fresh agricultural products that already win the heart of Australian consumers such as longan, mango and dragon fruit, Vietnam is also looking to introduce its processed and frozen farm produce to Australia so as to increase export values and diversify markets.

Sea tourism season kicked off nationwide

Hai Phong, Da Nang, and Ha Tinh kicked off the sea tourism season of 2022 with ceremonies held on April 30.

In Hai Phong city, the “Do Son - colours of the sea 2022” festival was opened in Do Son district - a famous coastal destination in northern Vietnam, promising visitors a wide range of interesting activities, including dragon boat racing, the launch of a pedestrian street, a music show, an exhibition and parade of classic cars, an electro dance music festival, and a golf tournament.

In the central city of Da Nang - a major tourism hub of Vietnam, the sea tourism season also began with various unique and attractive activities, including the My An night beach services, during the four-day National Reunification and May Day holidays.

Nguyen Duc Vu, head of the management board of Son Tra Peninsular and tourist beaches in Da Nang, said activities have been renewed over the past years to meet the demand of local residents as well as domestic and foreign visitors.

From April 28 to May 3, the beaches of My An, T18, and My Khe, those along Nguyen Tat Thanh road, and some places on Son Tra Peninsular are hosting many activities such as a sand sculpting competition, musical programmes,  exhibitions of artworks, sailboat performances, an antique market, and photo displays.

Other activities like a beer garden, a kite festival, the “Da Nang Summer Camp” hip-hop contest, the Dork Dancing space, outdoor film screening, and food van services are also set to be memorial experiences for visitors to the city.

In the central province of Ha Tinh, the sea tourism season started with a special music show and a firework display at the Thien Cam tourism area in Cam Xuyen district.

Outstanding activities at the Thien Cam tourism area these days include a women’s volleyball tournament, boat racing, a “Vi - Giam” folk singing festival, a festival praying for bumper seafood catches, beach sports events, and night food services.

VPBank takes US$600 million syndicated loan
     
Viet Nam Prosperity Joint Stock Commercial Bank (VPBank) has taken a US$600 million syndicated loan from foreign lenders led by Sumitomo Mitsui Banking Corp (SMBC) and Maybank Securities Pte.

Other lenders include Cathay United Bank, CTBC Bank and State Bank of India, VPBank announced on Thursday.

VPBank said the three-year loan will consolidate its financial capability to boost post-pandemic lending.

The successful mobilisation of a large loan in a short time, especially in the context of recent strong fluctuations in the world financial market, is an affirmation of VPBank's reputation, which is increasingly being valued by foreign partners in the international arena. At the end of 2021, VPBank’s Baseline Credit Assessment (BCA) was also upgraded by the world's leading credit rating agency Moody's Investors Service from B1 to Ba3, equivalent to Moody's national rating for Viet Nam, with a positive outlook.

HDBank eyes high growth targets, elects board for new strategic era
     
The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) targets a 21 per cent increase in profit before tax to VND10 trillion (US$434.21 million) this year, and a standalone non-performing loan ratio of less than 1.5 per cent.

It also targets an increase of 18 per cent in total assets to VND440.44 trillion ($19.12 billion) and of 17 per cent and 20 per cent in deposits and loans outstanding to VND392.68 trillion ($17.05 billion) and VND256.06 trillion ($11.13 billion).

Profitability ratios like return on assets and return on equity will continue to be high at 1.9 per cent and 22.2 per cent.

Over half of SEA users say SMBs should use digital payments
     
More than half of e-finance users (67 per cent) in Southeast Asia believe that small and medium businesses should begin using digital payments for financial transactions, a study by cybersecurity company Kaspersky has found.

Consumers in Malaysia (72 per cent) strongly favoured the SMB’s adoption of digital payment systems, followed by Singapore (68 per cent) and the Philippines (68 per cent).

The demand for contactless payment systems is unprecedented. It reflects the projected trajectory of rising e-commerce spending by 162 per cent or US$179.8 billion by 2025, with digital payments accounting for 91 per cent of transactions, according to research company IDC.

The survey showed a widespread belief (64 per cent) that mobile wallets can even positively boost businesses by increasing their earnings. Thailand is the most confident with this idea (71 per cent), followed by Malaysia (68 per cent) and Viet Nam (64 per cent).

The most frequent forms of digital payments among the region’s consumers are mobile payment apps (58 per cent), internet banking via mobile apps (53 per cent), debit cards (36 per cent), credit cards (33 per cent), and internet banking via a browser (31 per cent).

Promoting international collaboration for sustainable development of hydropower projects in Vietnam

State-run Electricity of Vietnam and relevant stakeholders are ramping efforts for sustainable development of hydropower projects in Vietnam.

From April 25 to 27, the Agence Française de Développement (AFD) and the consortium of technical consultants including Tractebel and Bureau Veritas Vietnam met and worked with the Power Project Management Board 2 (PMB2) belonging to Electricity of Vietnam (EVN) during the visit to the Ialy Hydropower Plant Extension project located in Kon Tum and Gia Lai.

The site visit was part of the technical assistance project that AFD and Team Europe sponsored for EVN.

Accordingly, the parties performed a survey on the current status of EVN’s health, safety, and environment (HSE) management system in the Ialy Hydropower Plant Extension project in the comparison with the requirements of ISO14001 (environment management) and ISO 45001 (occupational health and safety management).

The delegation worked with the PMB2 on the project implementation status, the construction management, the HSE commitments, and the next action plan.

Investment of 430 million USD poured into Van Don economic zone

A ground-breaking ceremony was held at Ao Tien high-class tourist urban area and harbor in Ha Long commune on April 30 to kick off the major construction projects in Van Don economic zone.

The projects were Ao Tien - Cat Linh Van Don luxury hotel and apartment complex; Crystal Holidays Harbor Van Don tourism, resort and entertainment complex; the category of hotels and villas under the Sonasea Van Don Harbor City Resort and Tourism Complex – Division 1; Van Don industrial cluster; and investment policy of a high-class furniture factory in Van Don economic zone.

All projects have a total investment of nearly 10 trillion VND (about 430 million USD). Once completed, they are expected to attract thousands of workers.

Substantial reform of business conditions

The results of the Provincial Competitiveness Index (PCI) in 2021, recently announced by the Vietnam Federation of Trade and Industry (VCCI), showed significant improvements in the quality of provincial economic management in Vietnam as well as positive changes in administrative reform.

The PCI report for 2021 was made in the context that the economy was heavily affected by the COVID-19 pandemic, however, the feedback from more than 11,300 businesses showed that institutional reform remains an important solution taken in parallel with fiscal and monetary instruments.

The business community also highly appreciated the authorities of many provinces and cities for their dynamic, pioneering, and responsible working spirit and ability to effectively solve new and urgent problems.

Accordingly, 87% of enterprises agreed that “state employees handle work effectively”, 83% of enterprises said that “state employees are friendly”, and 75% of enterprises agreed with the statement that “firms don’t have to make many trips to complete procedures”.

In addition, the size of informal charges also reduced significantly over time, with the number of enterprises having to spend more than 10% of turnover to pay informal charges decreased to only about 4.1%, significantly lower than five years ago (about 9.1% in 2016).

Quang Tri breaks ground on seaside road

The government of Quang Tri Province yesterday, April 29, started work on a VND2.06-trillion seaside road, which will connect to the Quang Tri east-west economic corridor.

The provincial Management Board for Investment and Construction of Traffic Projects serves as the developer of the seaside road project. Of the total investment, nearly VND1.644 trillion is backed by the central budget and over VND410 billion comes from the provincial budget.

The 55-kilometer project will be implemented from 2021 to 2025.

In the first phase, the project will run across four localities in the central province, namely the districts of Vinh Linh, Gio Linh, Trieu Phong and Dong Ha City, with a total length of 48 kilometers.

Along with National Highway No.1 and the north-south expressway, the seaside road, once in place, is expected to boost the regional connectivity in terms of sea economic development, help attract tourists, prevent natural disasters and aid rescue operations and contribute to the establishment and development of satellite urban areas along the route.

Over VND8.3 trillion proposed for expy in Dong Nai

The Thang Long project management board has proposed the Ministry of Transport approve a plan to develop a 60-kilometer-long expressway in Dong Nai Province, with the first phase needing a total of over VND8.3 trillion.

The Dau Giay-Tan Phu expressway, which would have four lanes and allow for a maximum speed of 100 kilometers per hour, is part of the 210-kilometer-long Dau Giay-Lien Khuong expressway that will link Dong Nai and Lam Dong provinces.

If approved, the section would be built under the public-private partnership (PPP). It would start at an intersection with National Highway 1 in Thong Nhat District and end at an intersection with National Highway 20 in Tan Phu District.

Of the total investment, VND1.3 trillion would be sourced from the State budget and the rest from investors, according to the board’s proposal.

The investor for the project will be selected in the 2022-2023 period, while site clearance and resettlement will start in the same period. Work on the expressway would begin in the 2023-2025 period.

The construction of the Dau Giay-Lien Khuong expressway is designed to improve connectivity between HCMC and other Central Highlands provinces and ease traffic congestion on National Highway 20.

Besides the Dau Giay-Tan Phu section, two other subprojects of the expressway are the Tan Phu-Bao Loc and Bao Loc-Lien Khuong sections, the local media reported.

Do Quang Vinh elected SHS chairman

Do Quang Vinh was elected chairman of the Saigon – Hanoi Securities JSC (SHS) at the company’s shareholders meeting on April 27.

Aside from serving as board member, vice general director, director of the Digital Banking Division of Saigon Hanoi Commercial Joint Stock Bank (SHB), Vinh is also chairman of the Members’ Council at SHB Finance.

The 33-year-old chairman of SHS has been working in the financial-banking sector for many years and was CEO of T&T Group’s U.S. branch.

At the general meeting, Luu Danh Duc was elected board member of SHS. Duc is an IT expert with many years of experience at major corporations at home and abroad.

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