NA Chairman Vuong Dinh Hue (R) welcomes Vice President of Lao NA Chaleun Yiapaoher.

Top Vietnamese legislator hosts Lao NA Vice President

National Assembly (NA) Chairman Vuong Dinh Hue hosted a reception in Hanoi on January 4 for Vice President of the Lao National Assembly Chaleun Yiapaoher, the first foreign guest to visit the Vietnamese legislative body in the new year of 2024.

Chairman Hue extended a warm welcome to the Lao NA leader and congratulated the Lao legislature on successfully holding the Cambodia-Laos-Vietnam (CLV) Parliamentary Summit in December 2023. The event's success marked the important role of the Lao legislature in the cooperation mechanism among the parliaments of the three countries as well as in the region, Hue said.

Applauding the ongoing progress of the cooperation agreement between the two legislatures, Hu affirmed the Vietnamese NA’s commitments to stepping up its utmost efforts to make legislative collaboration a crucial component of bilateral ties, including law-making matters and decisions on important national issues.

In response, Chaleun Yiapaoher attributed the CLV Parliament Summit’s success to the support provided by the Vietnamese NA.

He said his visit is designed to gain experience to compile a history book marking the 50-year journey of the Lao NA’s establishment and development, cited VOV.

He briefed the host on his successful talks with NA Vice Chairman Nguyen Khac Dinh, and working sessions with NA Secretary General and Chairman of the NA Office Bui Van Cuong and the Legislative Research Institute to specifically discuss experience in compiling the history book and fine-tuning legal regulations which is particularly relevant as Laos is preparing to amend its Constitution.

Hue affirmed that the Vietnamese NA and its agencies are ready to cooperate and share experience with the Lao NA in building and improving the Lao legal system in the best possible way. The two sides should hold in-depth seminars to provide scientific insights for policy and law formulation.

He also shared insights into the compilation of the history book marking 80 years of the Vietnamese NA, as part of activities celebrating the 80th anniversary of its first general election (January 6) in 2026.

The host voiced his support for the guest’s proposal to create a book documenting the history of the relationship between the Lao and Vietnamese legislatures.

On the occasion, he said Vietnam always supports and stays ready to assist Laos in successfully fulfilling its role as the Chair of ASEAN and ASEAN Inter-Parliamentary Assembly (AIPA) this year.

RoK works to operate logistic center in Vietnam

The Ministry of Oceans and Fisheries (MOF) of the Republic of Korea (RoK) said on January 5 that it has kicked off a corporate body in Vietnam, paving the way for the operation of a logistics center in the Southeast Asian country to support small- and medium-sized enterprises.

The launch of K-UPA came as the ministry has been working with the state-run Ulsan Port Authority to open the center in Vietnam’s southern province of Dong Nai to help Korean firms store goods under room or low temperatures.

Under the collaboration with Korea-based logistics firm KCTC, the project valued at 18.8 KRW (US$14.3 million), focuses on the construction of a 12,000-square-meter center which is able to store 4.3 million pallets of goods.

The Republic of Korea is working to open a logistics center in Vietnam. Illustrative image (Photo: VNA)

The Ulsan Port Authority holds an 80% stake in the project, with the Vietnamese KCTC taking up the remainder, according to VNA.

Minister of Oceans and Fisheries Kang Do-hyung said when the center opens its doors, it will significantly enhance the export competitiveness of Korean firms operating in Southeast Asia.

The center is expected to become operational in December this year, with the full service set to begin by July 2025. It will offer discounts of around 10-15% for small and medium-sized companies of the RoK.

Da Nang International Fireworks Festival to return in June

The Da Nang International Fireworks Festival (DIFF) 2024 is set to take place from June 8 to July 13 along the Han River in the central city of Da Nang, with the event welcoming the three newcomers from the United States, Germany, and China.

DIFF 2024 will feature firework displays put on by seven international teams from France, Italy, Poland, Finland, the US, Germany, and China, as well as the participation of the Da Nang team representing Vietnam. The event is scheduled to be held across five nights.

Each team will be able to display their fireworks shows over the course of 20 minutes, VOV reported.

Photo: VOV

The DIFF stage will cover a total of 1,050 sq.m along the Han River bank on Tran Hung Dao street of Son Tra district, along with a 5,000-seat grandstand set up for spectators to view the festival.

Visitors will have a chance to admire brilliant fireworks displays in the skies above Da Nang over five nights, together with special art programmes held as part of the opening ceremony, with the occasion featuring the presence of famous artists.

The two best teams will therefore compete to take the top prize on the final night on July 13.

The festival was first held back in 2008, although it was disrupted for three years due to the impact of the COVID-19 pandemic, before resuming in 2023. This year therefore marks the 12th edition of the event.

Most notably, the DIFF helped the city win Asia’s Leading Festival & Event Destination title in both 2016 and 2022 as awarded by the World Travel Awards.

Da Nang received over 7.4 million visitors in 2023, doubling the figure recorded in 2022 and equivalent to 93% of the figure in 2019 before the COVID-19 pandemic broke out, according to the municipal Department of Tourism.

Of the total, the total number of international visitors reached more than two million, a four-fold increase on-year and equivalent to 62% of the figure in 2019.

Vietnam - safest country to visit in Asia: Travel Off Path

World-leading indie travel news source Travel Off Path has listed Vietnam as the safest country to visit in Asia for 2024.

According to Travel Off Path, safety is a primary concern for Americans traveling abroad, especially amid the current climate where conflicts are breaking out internationally and security is decreasing across several destinations.

Over the last few years, Asia has been no exception, but Vietnam has proven to be remarkably stable and safe for tourists, said the website.

It cited the latest Global Law and Order Index indicating Vietnam is not only the most peaceful state in Asia, but also the seventh worldwide.

Illustrative image (Photo: thanhnien.vn)

Travel Off Path also shared that Vietnam is both prosperous and peaceful, as it enjoys low rates of crime and impressive political stability.

In terms of tourist offers, the website noted that Vietnam is ideal for slow travelers and backpackers seeking to reconnect with nature and expose themselves to a culture that is almost entirely different from their own, especially for those coming from the Northern Hemisphere.

The travel news source suggested that visitors should definitely take time to stroll around the charming, yellow-washed streets of Hoi An which is a UNESCO World Heritage site internationally recognised for its numerous historical temples and French colonial architecture.

“Also not to be missed is neighboring Hue, home to an imposing moated citadel; further down the coast, the sandy beaches and forested reserves of Da Nang are a mandatory stopover, as are the golden sand dunes and sleepy coastal towns lining the laid-back Mui Ne section of the coast,” said the website.

It stressed that from vibrant city breaks in Ho Chi Minh City, the busy coastal port of Nha Trang, the capital of Hanoi, to escapes into nature in Ninh Binh which is famous for its rice fields and monumental geological formations, travelers can truly never exhaust their ‘to-do’ list while exploring the country.

It also revealed that the Vietnamese Government are welcoming tourists with open arms, recently moving to ease visa requirements for foreigners.

HCM City’s economy to rebound in second quarter, likely to achieve 8% growth: report

HCM City’s economy is expected to rebound in the second quarter and is likely to achieve a growth of 8 per cent in 2024, according to a report.

According to the HCM City Macroeconomic Report: 2023 Results and 2024 Forecast report, the city’s economy is forecast to continue to recover in 2024.

Reaching a growth target of 7.1-8 per cent this year is possible if the global economy continues to recover favorably and measures to promote total demand are effectively implemented in the city, it said.

Based on data from the last quarter of 2023, the report indicated stable economic recovery in the country’s largest city.

Total demand recovery is indicated in various indicators related to consumption, investment, and exports, it added.

Major export markets for HCM City and Vietnam as a whole, including the US, the EU, and China, are expected to grow at a modest pace, posing a challenge in promoting total demand recovery for the city.

However, the city’s economic outlook is expected to become better in the second half of the year thanks to the city’s effort to disburse public investment and measures to address bad debt and enhance liquidity in the banking system.

HCM City posted growth of 5.81 per cent in 2023, down from 9.03 per cent in 2022.

The HCM City People’s Committee and People’s Council headquarters. The city’s economy is likely to achieve growth of 8 per cent in 2024. Photo: VNS

The city also aims to attain 100 per cent of State budget revenue targets in 2024.

Despite the challenges ahead, the city has set a range of targets for the upcoming year.

The targets include increasing tourism revenue to over VND190 billion, attracting over 6 million international visitors, upgrading 100 per cent of its information technology infrastructure, having 297 classrooms per 10,000 school-age residents, and aiming for 87 per cent of its trained workforce to have certificates or training qualifications.

The city also plans to create 140,000 new jobs and put into use three general hospitals in the Thu Duc, Hoc Mon, and Cu Chi districts.

Recommendations

To attain its target growth rate for 2024, the research group has proposed several policy recommendations, including diversifying export markets and expanding to potential markets such as Japan, South Korea, and India, as India currently has a stable and high economic growth rate.

It should focus on developing high-tech industries, financial services, and managing and stabilising the real estate market to meet housing demand and support production and business activities.

It should also prioritize expediting public spending, boosting consumption, and resolve the challenges faced by businesses in 2024.

The city’s total retail sales of goods and consumer services in 2023 increased by 10.8 per cent, and total tourism revenue increased by 22 per cent over 2022.

International visitors to the city increased by 44.3 per cent and the number of newly established businesses increased by 10 per cent.

Tourism revenue rose 25 per cent from 2019 (before COVID-19) to VND160 billion (US$6.56 billion), the highest in five years.

Its industrial index recorded growth of 4.3 per cent in 2023, higher than the national average. Services surged by nearly 6.8 per cent.

Agriculture and seafood rose 1.53 per cent while industrial industry and construction rose 4.42 per cent.

However, experts pointed out that the city’s economic recovery will continue to face challenges next year caused by global turmoil.

The real estate, stock and bond markets will continue facing obstacles next year despite a number of Government measures, they noted.

A number of businesses have been reporting a lack of export orders due to weak global demand.

The report, published by the University of Economics HCM City (UEH) in cooperation with the city’s Statistics Office, provides a comprehensive overview of the city’s economy in 2023, along with forecasts and prospects for 2024.

The publication is expected to be published annually.

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