The people who have trusted us so far

5th floor, Leadvisors Place Tower, No. 41A Ly Thai To Street, Hoan Kiem District, Hanoi

Contact

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2025/012025/02/16/120250102162052.jpg?rt=20250102162053" alt="Minister Counsellor Le Dinh Ba introduces Vietnamese stall to WTO Director-General Ngozi Okonjo-Iweala at WTO Open Day 2024 (Photo: VNA)"></figure></td></tr><tr><td>Minister Counsellor Le Dinh Ba introduces Vietnamese stall to WTO Director-General Ngozi Okonjo-Iweala at WTO Open Day 2024 (Photo: VNA)</td></tr></tbody></table></figure>Geneva – In a move to usher Vietnam into a new era of growth and prosperity, Vietnam should double down on its global integration efforts and strengthen its commitments to multilateralism, according to Vietnamese representative in Switzerland and foreign former officials.The remarks come in response to Party General Secretary To Lam’s call to lead Vietnam into the era of the nation's rise.Talking with a Vietnam News Agency correspondent in Switzerland, Minister Counsellor and Deputy Permanent Representative of Vietnam in Geneva Le Dinh Ba stressed that proactive international integration offers Vietnam significant advantages on multilateral forums and structures.The experience gained from decades of reform, development and integration is an invaluable asset for the nation as it embraces global engagement in this new era, he noted.On the multilateral front, there is considerable untapped potential, particularly in economy and trade, for Vietnam. “The deeper we integrate and the higher quality our commitments become, the more we can demand reciprocity from our partners,” he asserted, reinforcing the principle of mutual benefit in international trade.To elevate the nation’s global standing, he advocated for a shift in mindset, from a recipient of aid and technical assistance to a contributor that shapes international rules and shares its expertise.Meanwhile, Honorary Consul of Vietnam in Switzerland and former German Deputy Prime Minister Philip Rosler underscored the importance of focusing on economic development to achieve Vietnam’s GDP growth targets.The best path forward for Vietnam to enter this new era is by promoting investment and trade while enhancing international cooperation, he said, noting that Vietnamese leaders' efforts in this direction have been welcomed by the global community.All eyes are on Vietnam, especially in 2025 as Vietnam approaches the 50th anniversary of national reunification, Rosler said, adding that that many countries will reflect on Vietnam's historical achievements and its progress in national construction.According to him, multilateral cooperation is key for Vietnam to draw international attention, attract foreign investors, and solidify its position on the global stage.Sharing Rosler’s views, former Swiss Ambassador to Vietnam Ivo Sieber suggested that economic and trade cooperation agreements should be a key priority for Vietnam in the coming years.With increasing attention to bilateral free trade agreements, he pointed out that the European Free Trade Association (EFTA) is negotiating with several nations globally, most recently finalising an agreement with Thailand. Vietnam, as a major economy in Southeast Asia, has yet to establish a similar deal with EFTA. This presents a promising opportunity to move forward with such an agreement.Hopefully, this will benefit all parties involved, including businesses, he said./.

In a move to usher Vietnam into a new era of growth and prosperity, Vietnam should double down on its global integration efforts and strengthen its commitments to multilateralism, according to Vietnamese representative in Switzerland and foreign former officials.

Vietnam urged to bolster global integration, multilateralism for new era

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2024/12/30/adb-2-173554462832888039198.jpg" alt="ADB maintains positive views of Viet Nam’s economic growth in 2025- Ảnh 1."></figure>ADB Country Director for Viet Nam Shantanu Chakraborty - Photo: VGPADB Country Director for Viet Nam Shantanu Chakraborty made that above statement during his recent interview with VGP about Viet Nam's economic outlook in 2025.Chakraborty said, this revision is based on Viet Nam's strong export performance, including manufacturing, robust foreign direct investment (FDI) performance, supported by a global pivot towards monetary easing and moderate global commodity prices (including the crude oil).Viet Nam is aspiring to reach its goal of becoming an upper middle-income country by 2030. This ambitious aspiration necessitates an average annual growth rate of 7 percent.To compensate for the low economic growth during the COVID-19 pandemic, it was understandable that the growth target for 2025 is set at 8 percent, which will contribute to Viet Nam's 2030 goal."However, it is essential for Viet Nam to prioritize not only the quantitative aspects of economic growth but also its qualitative aspects, as the country's growth foundations need further consolidation. Such growth target should therefore be taken as directional guidance for the government's efforts to boost economic growth in 2025", shared the ADB Country Director.As Viet Nam seeks to maintain its growth trajectory, the foundations for sustainable growth need significant improvement.By leveraging its growth momentum while addressing structural and external challenges, Viet Nam can achieve its vision of becoming an upper-middle-income country by 2030 and a high-income economy by 2045.Challenges for Viet Nam's economy in 2025Regarding challenges to Viet Nam's economy in the upcoming year, Chakraborty said, the continuing conflicts in the Middle East and between Russia and Ukraine has disrupted the supply chains.There are significant uncertainties surrounding the global and regional economies in 2025, which in turn will have impact on the Viet Nam economy.While ADB's recent assessment of risk scenarios showed modest implication of such uncertainties in 2025, they will potentially affect the global flows of trade and investment from the second half of 2025, causing lower growth in subsequent years.Meanwhile, the quality of infrastructure remains a challenge for Viet Nam, although significant progress has been made, but there needs to be a concerted effort to improve the quality of infrastructure.He underlined the need to deepen financial market, adding that to attact long-term investments in infrastructure, Viet Nam needs longer tenor capital, both in terms of debt and equity."In 2024, Typhoon Yagi caused severve consequences in the country. We need to be very careful about how we can channelize public investment and any type of investments into climate resilient infrastructure, which can withstand the increasing trend towards climate", noted the ADB Country Director.There is also the issue of some labor shortages, especially in high-tech industries such as AI, FinTech and digital economy so Viet Nam should focus on how to upskill the labor force and address this looming labor shortage.Amid the uncertainties, growth drivers in 2025 will need to be further diversified, with stronger efforts for effective implementation of fiscal stimulus measures, especially public investment in infrastructure, while maintaining a pro-growth monetary policy.Viet Nam maintains fastest growing economy in Southeast Asia in 2024According to the ADB Country Director, Viet Nam achieved remarkable economic success in 2024.The economy accelerated to an impressive growth rate of 6.8 percent in the first three quarters of 2024, driven by a combination of robust trade performance, record FDI, and effective policy measures.The country recorded a significant merchandise trade surplus of US$24.3 billion in the first 11 months, providing strong support for economic growth and improving the balance of payments.Meanwhile, FDI disbursement reached a record US$22 billion during the same period, further fueling development."Importantly, the government's timely response to the severe impacts of Typhoon Yagi—through rapid reconstruction efforts and financial aid to affected regions—helped swiftly restore economic momentum", he stated.Additionally, Viet Nam's substantial stimulus measures, including extended fiscal support and flexible monetary policy helped maintain a delicate balance between controlling inflation and supporting growth, ensuring stable macroeconomic conditions.Collectively, these factors underscored Viet Nam's resilience and adaptability. This still puts Viet Nam as the fastest growing economy in Southeast Asia in 2024.Positive signs from the across-the-board institutional reformsChakraborty held that there are positive signs from the across-the-board institutional reforms recently initiated, with welcomed improvements in many important areas like the public investment law, procurement law, electricity law and public-private partnership.If effectively implemented, these broad reforms can enhance efficiency by reducing bureaucracy, improving public services and cutting the cost of doing business and energize additional growth drivers, he added.Remarkably, the reform in public investment law can further support the economic recovery and foster overall economic resilience.Public investment is a critical engine of economic growth. According to the Ministry of Planning and Investment, an increase of 1 percent in public investment disbursement corresponds to a 0.058 percent increase in GDP growth. In addition, every VND1 of disbursed public investment capital stimulates VND1.61 of investment capital from the non-state sector.The government has recently undertaken significant reforms in revising public investment law to address longstanding challenges in the preparation and implementation of public investment projects, aiming to streamline the approval procedures for ODA-funded projects.Therefore, recent broad base institutional reforms in Viet Nam are welcomed not only for public investment but also for the overall economy. Streamlining and increasing the efficiency of the governance structure is essential for effective regulatory reforms, highlighted the ADB Country Director./.

The Asian Development Bank (ADB) has maintained positive views of Viet Nam’s economic growth and upgraded its projection for Viet Nam’s growth in 2025 at 6.6 percent, up from 6.2 percent forecast in September 2024

ADB maintains positive views of Viet Nam’s economic growth in 2025

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2024/12/30/dao-hong-lan-resize11zon-17355477099791769697294.png" alt="May 20 proposed as National Organ Donor Day - Ảnh 1."></figure>Minister of Health Dao Hong LanMinister of Health Dao Hong Lan announced the proposal while while addressing the launch of a campaign entitled "Registration of tissues and organs -Giving is forever" today in Ho Chi Minh City.Since the first organ case was implemented in Viet Nam 32 years ago, over 1,000 transplants have been carried out per year, making Viet Nam the top country in Southeast Asia in terms of the number of annual organ transplants.However, tissue and organ donations in Viet Nam are mainly from living donors, accounting for 94 percent. Donations from the dead are still very limited, unable to meet the increasing need for tissue and organ transplants.The registration rate of tissue and organ donation among the general population and especially the rate of tissue and organ donation after brain deaths in Viet Nam remains very low.The rate of organ donor registration is currently 0.086 percent of the population with around 86,000 donors throughout the country.Given the situation, Prime Minister Pham Minh Chinh on May 9, 2024 called on all Vietnamese adults, regardless of gender, ethnic groups, religion, or region, to register as an organ donor.Donating organs and tissues is one of the most meaningful presents one can give to others. Thousands of people in Viet Nam have received successful organ transplants and their lives have been spared because of the generosity and sharing of good-hearted people, he added.&nbsp;Regulations for organ donation in Viet NamCitizens who are aged 18 and above and have full capacity for civil acts can register to donate their tissues and organs.They can print out a form on the portal of the Viet Nam National Coordinating Center for Human Organ Transplantation, fill in the form, and send it plus a photo of themselves and a copy of their ID cards or passports to the center's headquarters at Viet Duc University Hospital at 40 Trang Thi Street in Hoan Kiem District, Ha Noi.They must include the phone number of the recipient, 0915060550, on the envelopes containing the above papers.Those wishing to register to donate their tissues and organs can also directly make the registrations at Viet Duc University Hospital.They should bring a photo of themselves and a copy of their ID cards or passports./.

The Ministry of Health suggested the Government designate May 20 as the National Organ Donor Day to raise public awareness about the importance of organ donation.

May 20 proposed as National Organ Donor Day

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2024/12/26/hn-17352026773581491403851.jpg" alt="Ha Noi-HCM City remains world’s fourth busiest domestic air route- Ảnh 1."></figure>Ha Noi-Ho Chi Minh City remains the world’s fourth busiest domestic flight route in 2024This 1,000-km route connects the nation's two biggest cities, underpinning the growth of Viet Nam's aviation industry.The air route has consistently been ranked among the 10 busiest globally since 2017.According to statistics compiled by the Civil Aviation Authority of Viet Nam (CAAV), the air route, dubbed as "golden route" of the aviation industry, transported over nine million passengers last year, accounting for 22 percent of total domestic air traffic.Five carriers, Viet Nam Airlines, Vietjet, Bamboo Airways, Pacific Airlines, and Vietravel Airlines, service the route and offer flights throughout the day.Earlier, OAG named three air routes of Viet Nam among the top 10 busiest domestic flight routes in Southeast Asia in August 2024.They were the Ha Noi-Ho Chi Minh City, Ha Noi-Da Nang, and Da Nang-Ho Chi Minh City routes.OAG is the world's leading provider of digital flight information, intelligence, and analytics for airports, airlines, and travel tech companies.

Ha Noi-Ho Chi Minh City remained the world’s fourth busiest domestic flight route in 2024, with 10.63 million seats available this year, according to the Official Airline Guide (OAG).

Ha Noi-HCM City remains world’s fourth busiest domestic air route

During the trip, Trung met with President of the Cambodian People's Party (CPP) and President of the Senate Samdech Techo Hun Sen, held a working session with Chairman of the CPP’s Commission for External Relations, Cambodian Deputy Prime Minister, and Minister of Foreign Affairs and International Cooperation Prak Sokhonn, and met with member of the CPP Standing Committee and Deputy Prime Minister Neth Savoeun.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/122024/25/14/in_article/uyvien-tw-2-cam20241225145733.jpg?rt=20241225145734" alt="Party official pays working visit to Cambodia"></figure></td></tr><tr><td>The meeting between Chairman of the Communist Party of Vietnam (CPV) Central Committee’s Commission for External Relations Le Hoai Trung and President of the Cambodian People's Party and President of the Senate Samdech Techo Hun Sen in Phnom Penh (Photo: VNA)</td></tr></tbody></table></figure>In his meeting with Hun Sen, Trung congratulated Cambodia on its remarkable achievements under the CPP’s leadership with Hun Sen as President and Samdech Thipadei Hun Manet as Prime Minister, helping Cambodia to ensure peace and develop comprehensively, improve local people's living standards, and elevate its role and position on the international arena.He also conveyed regards from General Secretary of the Communist Party of Vietnam (CPV) To Lam and other Vietnamese leaders to Hun Sen and other high-ranking Cambodian leaders.Hun Sen, in turn, believed that Trung’s visit would contribute to fostering and strengthening the comprehensive cooperation between the two Parties and nations, affirming the determination to work together with Vietnam to consolidate their relations based on the motto of “good neighborliness, traditional friendship, comprehensive cooperation, and long-term sustainability”, with the increasingly strong mutual trust.Congratulating Vietnam on its Party building and diplomatic achievements, he expressed his firm confidence that under the CPV’s sound and visionary leadership led by General Secretary Lam, Vietnam would accomplish its development goals, including the target to become a high-income developed nation by 2045.

Chairman of the Communist Party of Vietnam (CPV) Central Committee’s Commission for External Relations Le Hoai Trung paid a working visit to Cambodia from December 23-24.

Party official pays working visit to Cambodia

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2024/12/24/sontra-17350111937571964715128.jpg" alt="Da Nang becomes third best places to visit in Asia in 2025: Time Out - Ảnh 1."></figure>Son Tra Mountain in Da Nang CityThe magazine noted that situated between Son Tra Mountain and the East Sea, Da Nang has long been a favorite beach destination for regional travelers.But while it has always been known for its laid-back charm, this coastal gem is rapidly evolving, catching up with Ho Chi Minh City and Ha Noi with an emerging dining and bar scene.This year alone, Da Nang made waves with 16 new Bib Gourmand entries in the Michelin Guide – including the contemporary Indian hotspot Rang – and its first Michelin star at the French fine-dining restaurant, La Maison 1888, said Time Out.Earlier, Da Nang was named among seven best places in Southeast Asia for solo travelers by Lonely Planet and in the list of the 10 best cities for location-independent professionals this year by the U.S. travel magazine Travel+Leisure.&nbsp;Da Nang City welcomed 8.7 million arrivals over the past nine months of 2024, marking growth of 33.3 percent year on year, reported the city's Statistics Office.Among the arrivals were more than 3.2 million foreign travelers, up 30.6 percent year on year, and 5.5 million domestic holidaymakers, up 34.9 percent, said the municipal statistics agency.Currently, international visitors to Da Nang are mainly South Korean, Japanese, Indian, Southeast Asian, and American. In addition, local authorities continue to promote key international markets in Northeast Asia and Southeast Asia, while simultaneously working to attract customers from potential markets such as India, Australia, the U.S., and northern Europe.Da Nang, designed as a destination of Meeting, Incentives, Conferencing and Exhibition (MICE) events, has set a target of hosting 8.4 million visitors this year.Early this year, several of the city's resorts were chosen as ideal venues for Indian couples' weddings and accommodation for their relatives and friends to stay at for several days.Time Out is a global media and hospitality company that covers cities around the world through its magazines, websites, apps, and live events. It inspires and enables people to explore and enjoy the best of the city./.

The central city of Da Nang was ranked third among eight best places to visit in Asia in 2025, according to the British magazine Time Out.

Da Nang becomes third best places to visit in Asia in 2025: Time Out

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/122024/19/17/the-vietnam-industrial-park-forum-202420241219171348.jpg?rt=20241219171350" alt="The Vietnam Industrial Park Forum 2024, themed “The Era of Advancement for Vietnam Industrial Park”, is officially held in Ho Chi Minh City - photo: Dieu Linh"></figure></td></tr><tr><td>The Vietnam Industrial Park Forum 2024, themed “The Era of Advancement for Vietnam Industrial Park”, is officially held in Ho Chi Minh City - photo: Dieu Linh</td></tr></tbody></table></figure>At Vietnam Industrial Park Forum 2024, speakers and guests focus on discussing policies and laws, infrastructure transformation for sustainable development, promoting foreign direct investment (FDI), financial markets, labor and employment, and ESG practices in industrial parks; sharing experience in implementing smart and sustainable industrial park models and proposing policy solutions to transition Vietnam industrial parks from traditional models to smart and sustainable ones, aligning with the nation's growth ambitions and the global green transition towards Net Zero.The forum gathers opinions from domestic and international industrial parks and related enterprises with the same vision of sustainable development in the new era; recommends and proposes solutions to common and urgent issues; promotes specific actions; exchanges and shares experience of participating parties, contributes initiatives; unites to promote and attract foreign investment in Vietnam's industrial parks in 2025 and the coming years to promote activities to enhance competitiveness in the region and the world.With the aim of strengthening dialogue and cooperation in industrial park development, the Forum also serves as a bridge between domestic and international investors and state management agencies. It connects industrial parks with investors and financial organizations to seek funding for sustainable projects, fostering cooperation between government agencies, local authorities, and international organizations with industrial parks and manufacturers to promote sustainable industrial growth, meeting the common standards of major global investors. It facilitates individuals and organizations in presenting initiatives and solutions for the sustainable development of new-generation industrial parks.Through reports and presentations during the discussion sessions, the Forum aims to shape strategies and models for smart and sustainable industrial park development, discussing development trends such as smart industrial parks and application of 4.0 technology.The Vietnam Industrial Park Forum 2024 seeks to achieve specific outcomes, including the participation of 300 senior leaders and 35 esteemed speakers. It will produce a comprehensive report summarizing the discussions and initiatives from the Forum, reference materials on various topics, and 35 presentations from the speakers. The Forum also aims for commitments and agreements for bilateral and multilateral cooperation in shared strategies to promote sustainable development and enhance global competitiveness. Information about IPFORUM 2024 will be communicated directly to 400 industrial parks, 1,000 industrial clusters nationwide, and 50 business associations with over 1,000 related enterprises.The results of discussions, feedback, and proposals from speakers at the Forum will be compiled into reports submitted to the Central Economic Commission, the Government, relevant ministries and local authorities, as well as to the media through the Government’s official portal, Vietnam Television, industry journals, and more than 30 major domestic and international media agencies.The Vietnam Industrial Park Forum 2024 consists of 2 plenary sessions and 3 panel discussions, focusing on the following key topics:First Plenary Session includes presentations and group discussions on 3 key areas: policies and laws for industrial park development; transforming the infrastructure construction of new-generation industrial parks: smart and sustainable development; enhancing the position and competitiveness of Vietnamese industrial parks in the era of development.At the Second Plenary Session, speakers, industrial park representatives, and guests will participate in discussions on: Practicing ESG in industrial parks, sharing practical implementation experience; developing green logistics in the transformation of new-generation industrial parks; Industrial Park Model Transformation in Ho Chi Minh City; promoting compliance and responsible business practices in the supply chain; investment capital for the sustainable development of the new-generation industrial parks.The Vietnam Industrial Park Forum 2024 aims to be more than just a platform for information and experience sharing; it serves as a foundation for stakeholders to unite, collaborate, and shape the Vietnamese industrial park market in line with global trends and the demands of the Net Zero era./Dieu Linh

The Vietnam Industrial Park Forum 2024, themed “The Era of Advancement for Vietnam Industrial Park”, is officially held in Ho Chi Minh City.

The Era of Advancement for Vietnam Industrial Park

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2024/12/18/seasia-17344922354971648088499.jpg" alt="Viet Nam projected to become Asia’s 12th largest economy in 2025- Ảnh 1."></figure>Based on projections by the International Monetary Fund (IMF), Seasia Stats forecasted that Viet Nam's GDP will reach US$506 billion next year, ranking 5th in Southeast Asia behind Indonesia, Singapore, Thailand and the Philippines.Seasia Stats highlights Viet Nam's impressive economic growth, adding that Viet Nam's economy is rapidly expanding, thanks to its manufacturing boom and foreign investments.In a meeting held in October this year, Prime Minister Pham Minh Chinh said, Viet Nam's GDP is expected to reach US$500 billion in 2025, becoming the 33rd largest economy globally and the 4th in ASEAN.The country's GDP rose from US$346 billion in 2020 to US$433 billion in 2023, respectively ranking 37th and 34th largest economy in the world, he added.Pham said the GDP per capita will increase to around US$4,900 in 2025 from US$3,720 in 2021, up 31.7 percent.Viet Nam will strive to raise the GDP size to around US$780-800 billion and the GDP per capita to US$7,400-7,600 by the end of this decade, said the Prime Minister.At the Government regular meeting that took place earlier this month, the Prime Minister urged authorities to strive to accelerate GDP growth to at least 7 percent in 2024, approximately 8 percent for 2025, in order to lay foundation for double-digit growth in the 2026-2030 period./.

Viet Nam is projected to become Asia's 12th largest economy in 2025, according to the statistical visualization platform Seasia Stats.

Viet Nam projected to become Asia’s 12th largest economy in 2025

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2024/12/17/nhac-cung-dinh-hue-17344114628731889558346.jpg" alt="Viet Nam becomes increasingly attractive to Australian tourists- Ảnh 1."></figure>In October this year, 1.66 million Australians departed for international destinations, a year-on-year increase of 12.1 percent, reported the Australian Travel Industry Association (ATIA).Of the figure, 567,330 Australians travelled to Japan, a remarkable growth of 73.8 percent from the same period last year.&nbsp;Meanwhile, the number of Australian passengers to Viet Nam soared by 35.4 percent to 423,630, followed by Indonesia up 26 percent (with 1,644,010).ATIA Director of Membership and Industry Affairs Richard Taylor said destinations like Japan, Viet Nam and Indonesia have witnessed unprecedented growth rates, indicating the evolving preferences of Australian travelers.In 2023, some 150,000 Vietnamese visited Australia while the number of Australian travelers to Viet Nam reached 390,000 compared to 383,000 tourists in 2019.In the first five months of this year, Viet Nam welcomed 213,000 Australian visitors, an increase of 35 percent year-on-year, making Australia the seventh largest source of tourists to the Southeast Asian nation./.

Viet Nam is one of the three most attractive destinations for Australian tourists, according to the Singapore-based asianaviation.com.

Viet Nam becomes increasingly attractive to Australian tourists

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/122024/13/09/fdi20241213090407.jpg?rt=20241213090408" alt="FDI remains vital contributor to boost economic growth. - Illustrative image (Photo: VNA)"></figure></td></tr><tr><td>FDI remains vital contributor to boost economic growth. - Illustrative image (Photo: VNA)</td></tr></tbody></table></figure>This area has emerged as a notable highlight, promising to make an important contribution to expanding the economic growth rate by above 7% as targeted for this year. It is expected to set the stage for realising growth objectives outlined for 2025.Foreign investors poured nearly 4.12 billion USD into Vietnam in November this year. This lifted the total registered FDI in the past 11 months, including new and additional investments, and capital contributions via share purchases, to nearly 31.4 billion USD, marking a year-on-year increase of 1%.In the January-November period, a total of 21.68 billion USD was disbursed, up 7.1% against the same period last year. Foreign investors invested in 18 out of 21 sectors of the national economy, with the processing and manufacturing industry leading the way.The Ministry of Planning and Investment’s Foreign Investment Agency (FIA) reported that foreign investment capital has continued to flow into localities with advantages in attracting FDI, including Bac Ninh, Quang Ninh, Ho Chi Minh City, Hai Phong, Hanoi, Binh Duong, Ba Ria – Vung Tau, Dong Nai, Nghe An and Bac Giang. These localities accounted for 79.6% of the total number of new projects and 69.4% of the total registered investment capital nationwide over the last 11 months.Notably, the northern province of Bac Ninh has emerged as a prominent destination for semiconductor enterprises, with many large-scale projects.The provincial authorities have signed a cooperation agreement with Samsung Display to develop a project worth 1.8 billion USD. As a result, in the first 11 months of the year, Bac Ninh led the country in attracting FDI, with total registered investment capital reaching nearly 5.04 billion USD, accounting for 16% of the nation’s total investment, and more than tripling the same period last year.The Global Semiconductor Alliance (SEMI) has predicted that Vietnam's semiconductor market is expected to reach 7.01 billion USD by 2028, with an average annual growth of approximately 6.69% during the 2023–2028 period.Hong Sun, Chairman of the Korean Chamber of Commerce and Industry in Vietnam (KoCham) stated that Vietnam is among the countries with significant opportunities to develop the semiconductor industry. Therefore, large corporations of the Republic of Korea (RoK) are actively exploring opportunities to expand semiconductor supply chains in Vietnam.Nguyen Van Toan, Vice President of the Vietnam Association of Foreign Invested Enterprises (VAFIE), believed that the trend of foreign investors pouring capital into the semiconductor and electronics industries in recent times is positive.Particularly, Jensen Huang, Founder and CEO of NVIDIA, recently visited Vietnam for the second time. NVIDIA has partnered with Vietnam to establish an Artificial Intelligence (AI) research and development centre and an AI data centre in the country.Economic experts said Vietnam is currently the most open economy in the Southeast Asian region, just behind Singapore. Meanwhile, the Vietnamese Government continues to focus on reforms, international integration, and sustained efforts to effectively attract sustainable FDI flows./.

Foreign direct investment (FDI) remains one of the most vital drivers of national economic growth, recording remarkable results in 2024.

FDI remains vital contributor to boost economic growth

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/thumb_w/640/344443456812359680/2024/12/9/1-16492434459831768854588-1649256715140-16492567194591166369909-17337130231811916641406.jpg" alt="Personal income tax revenues exceed full year's target in 11M- Ảnh 1."></figure>In the first 11 months, the total State budget revenue reached VND1.8 quadrillion (US$71.2 billion), exceeding the forecast by 6.3 percent and marking a 16.1 per cent increase from last year.Meanwhile, Government spending across the last 11 months was estimated to reach 73.6 percent of the forecast, reflecting a 4.7 percent increase compared to the same period in 2023.Last year, total personal income tax valued at VND147,113 billion, making up 9 percent of total State budget revenue.Major tax types in Viet Nam include personal income tax, corporate income tax, value-added tax, environmental protection tax, import and export duties, special consumption tax./.

As of late November, personal income tax revenues reached around VND170 trillion (US$7.3 billion), surpassing full year's forecast by 6.9 percent, according to the General Department of Taxation.

Personal income tax revenues exceed full year's target in 11M

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/122024/06/11/ven20241206115157.jpg?rt=20241206115159" alt="In 2023, the Vietnamese auto market recorded sales of over 500,000 vehicles"></figure></td></tr><tr><td>In 2023, the Vietnamese auto market recorded sales of over 500,000 vehicles</td></tr></tbody></table></figure>In 2023, according to data from the Vietnam Automobile Manufacturers’ Association (VAMA), approximately 7 out of 10 cars sold in the domestic market were assembled in Vietnam, and this ratio continues to rise in 2024. The localization rate of passenger cars has increased from 10-14 percent to 20-30 percent.For instance, Truong Hai Auto Corporation (Thaco) has achieved a localization rate of over 60 percent for buses, 40 percent for trucks, and an average of 25 percent for passenger cars, with some passenger car models exceeding 40 percent. These figures meet the Regional Value Content (RVC) criteria to qualify for a zero percent preferential import tariff under the ASEAN Trade in Goods Agreement (ATIGA).Hyundai Thanh Cong Vietnam (TC Motor) produces the Palisade model at its Ninh Binh Plant No.2 with an RVC rate exceeding 40 percent, qualifying for tariff preferences under the ASEAN Free Trade Area (AFTA). This provides a significant competitive advantage for TC Motor’s exports to international markets.Similarly, VinFast, after a short period of investment in electric vehicle production, has established a strong foothold in Vietnam’s “green vehicle” market and expanded its reach to international markets.It can be said that the Vietnamese automotive industry is currently experiencing robust growth with the participation of major brands, such as Toyota, Hyundai, VinFast, Ford, and Honda. In 2023, the Vietnamese auto market recorded sales of over 500,000 vehicles, maintaining steady growth over the years. However, low localization rate remains one of the industry’s biggest weaknesses.To join the global supply chain, the Vietnamese automotive industry should take a comprehensive set of solutions. First and foremost, increasing the localization rate is a critical task. The Government should encourage domestic enterprises to invest in component manufacturing and facilitate technology transfer from international partners.Specialized industrial parks for supporting industries need to be established to create a complete manufacturing ecosystem. At the same time, focus should be placed on training a high-quality workforce. Collaboration with international organizations and universities to train skilled engineers and technical workers will enhance the industry’s competitiveness.In the long term, promoting the development of electric vehicles should be a top priority. Developing tax incentive policies and providing financial support for electric vehicle manufacturers and charging stations is essential to align with the global green transition trend.Vietnam also needs to strengthen trade promotion and international cooperation to expand the export market for cars and components. Leveraging free trade agreements, such as the EU-Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), will help the automotive supporting industry access discerning markets like Europe and Japan./.Thanh Binh

In recent years, Vietnam’s automotive industry has experienced positive growth, aiming not only to meet domestic demand, but also to establish its position in the international market.

Vietnam’s automotive industry seizes golden opportunities from global supply chain

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/28/16/720241128163552.png?rt=20241128163552" alt="Vietnamese and Chinese businesses sign cooperation agreement to promote tourism during the Magnificent Guangxi event on November 27 in Hà Nội. Photo of Kim Liên Travel"></figure></td></tr><tr><td>Vietnamese and Chinese businesses sign cooperation agreement to promote tourism during the Magnificent Guangxi event on November 27 in Hà Nội. Photo of Kim Liên Travel</td></tr></tbody></table></figure>HÀ NỘI - The unique culture and beautiful nature of Guangxi Province has been showcased in Việt Nam in an effort to boost tourism between the two countries.A culture and tourism exchange conference, on November 27 in Hà Nội, entitled Magnificent Guangxi, saw leaders of the Vietnamese Ministry of Culture, Sports and Tourism, the Việt Nam National Authority of Tourism, the Chinese Embassy in Việt Nam and the two sides' tourism agencies unite in efforts to increase cooperation.Pundits predicted that the 2024 - 2025 season would be the year of inbound tourism boom in China, home to many beautiful landscapes and ready to welcome international visitors, including Vietnamese.Speaking at the event, Chen Yijun, member of the standing board of the Guangxi Province’s Party Committee and head of the committee’s publicity department, said: “Việt Nam and China has a long-standing and strong relationship."Under the leadership of the Party and State of the two countries, that relationship is becoming increasingly closer. Today's event is expected to realise the two countries' policies and deepen that relationship."Chen said Việt Nam and China had many similarities in terms of culture, beautiful natural landscapes and shared a rich potential for tourism development.In 2025, the two countries will celebrate the 75th anniversary of establishing diplomatic relations, a perfect time to strengthen exchanges and cooperation in cross-border tourism border culture, and continue to deepen cultural and tourism cooperation, he said.Recently, the waterfall tourist landscape areas -- Bản Giốc (Việt Nam) and Detian (China) - a cross-border tourism and cooperation zone was officially launched, one year after it had been successfully piloted.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/28/16/820241128163634.jpg?rt=20241128163635" alt="Bản Giốc (Việt Nam) and Detian (China) Waterfall site is one of favourite destinations of border-tourism between Việt Nam and China. VNA/VNS Photo"></figure></td></tr><tr><td>Bản Giốc (Việt Nam) and Detian (China) Waterfall site is one of favourite destinations of border-tourism between Việt Nam and China. VNA/VNS Photo</td></tr></tbody></table></figure>The Beihai - Hạ Long sea tourism route linking Guangxi and Quảng Ninh Province was also opened earlier this month.“These are very favourable conditions for the two countries to cooperate and develop tourism, especially tourism in border areas. In 2024, about 800,000 tourists have visited Guangxi, among them were 80,000 Vietnamese," said Chen.She also expected that Việt Nam and China continued to cooperate and exploit tourism across other types of travel, such as caravan tourism, resort and eco tourism and cultural tourism.Minister of the Chinese Embassy in Việt Nam, Wang Qun, said Việt Nam - China relations were developing more and more stably. Guangxi, as an important bridge and gateway between China and ASEAN, maximised its geographical advantage of being adjacent to the sea and land with Việt Nam.The province had successfully exploited its rich and valuable natural resources and diverse culture and promoted extensive exchanges and cooperation with Vietnamese localities.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/28/16/920241128163717.png?rt=20241128163717" alt="Guangxi artists perform a traditional dance at the Magnificent Guangxi event. Photo baovanhoa,vn"></figure></td></tr><tr><td>Guangxi artists perform a traditional dance at the Magnificent Guangxi event. Photo baovanhoa,vn</td></tr></tbody></table></figure>Humanistic exchanges between Guangxi and Việt Nam reaped many positive results, especially in terms of cross-border tourism.He promised that the Chinese Embassy in Việt Nam would continue to support exchange and cooperation activities between the two countries across different fields, including culture and tourism.He hoped that this event would be a motivation for the culture and tourism cooperation development between two countries, ensuring the stably and long-term comprehensive strategic partnership.At the conference, Deputy Minister of Culture, Sports and Tourism Hồ An Phong affirmed that cultural exchange and tourism cooperation between Việt Nam and China was among activities of a relationship which was rich in tradition. It was an objective need and a top priority for Việt Nam and this event carried important meaning, contributing to further promoting cultural and tourism cooperation between two sides.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/28/16/1020241128163752.png?rt=20241128163753" alt="Deputy Minister of Culture, Sports and Tourism Hồ An Phong speaks at the event. Photo of Kim Liên Travel"></figure></td></tr><tr><td>Deputy Minister of Culture, Sports and Tourism Hồ An Phong speaks at the event. Photo of Kim Liên Travel</td></tr></tbody></table></figure>He said the Vietnamese ministry was ready work with the Chinese Ministry of Culture and Tourism and the Guangxi Department of Culture and Tourism to closely coordinate and organise the Vietnamese Cultural Week in China, research and build special tourist routes, and actively participate in the China - ASEAN Tourism Fair and help build a community that shared the future of Việt Nam - China.At the event, participants were briefed about the unique resources, charming scenery, long history and diverse culture of Guangxi, where there visitors were offered countless and convenient travel opportunities.It was also a chance for the two sides to witness the signing ceremony of tourism cooperation agreement between companies of the two countries and an announcement of a special route designed specifically for Vietnamese customers.Following the agreement, the two sides would work together to promote cross-border tourism products into each other's markets, exchange tourist sources and expand the market overall."This event gives travel businesses of the two countries the opportunity to learn more about tourism resources of the other side. Việt Nam and China share many similarities in natural resources, beautiful landscape, culture and cuisine but there are also many differences and attractions that are just waiting for us to explore," said Minh Thế Long, deputy general director of the International Kim Liên Travel JointstockHe hoped that moving forward Vietnamese and Chinese travel businesses would continue to increase promotion and work closely together to increase the number of tourists travelling between two countries, setting up a closer relationship between two countries and two peoples.

Unique culture and beautiful nature of Guangxi Province introduced in Việt Nam in an effort to promote tourism between two countries.

Border tourism development enhanced through Magnificent Guangxi event

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/27/16/cong-nghiep-ban-dan20241127164234.jpg?rt=20241127164236" alt="HCM City: Strong leap into semiconductor industry"></figure></td></tr><tr><td>Illustrative image</td></tr></tbody></table></figure>Vietnam is said to have favorable conditions to develop a semiconductor industry ecosystem and become an essential part of the global semiconductor supply chain. The Party and the State are formulating breakthrough mechanisms and policies to promote the growth of this industry.The semiconductor industry is likened to “a grain of rice” as it sustains all other sectors in the technological era, serving as the key to future digital technologies. The semiconductor industry plays an increasingly vital role in the world economy, with the global market size exceeding US$520 billion in 2023 and continuing to grow rapidly.To gradually realize this goal, HCM City recently organized the 2024 International Exhibition for Integrated Circuit and Semiconductor Industry. The event aimed to attract businesses and organizations operating in the semiconductor sector in particular and high-tech industries in general from the city and neighboring provinces to establish a high-tech ecosystem.The exhibition also aimed to provide businesses with opportunities to build partnerships and joint ventures through cooperation with domestic and foreign partners, thereby promoting the development of high-tech industries in HCM City and increasing trade promotion opportunities for Vietnamese enterprises.The exhibition not only focused on advanced semiconductor technologies, but also expanded into related fields, such as optoelectronics, robotics, smart factories, and AI applications in manufacturing. This event is part of Vietnam’s semiconductor industry development strategy for the 2024-2030 period, aiming to attract investment, develop human resources, and build infrastructure to support digital transformation and reduce dependence on foreign technologies.According to the leaders of the municipal People’s Committee, HCM City is focusing on developing high-tech industries, innovation, regional connectivity, and transforming production towards automation, and using green and clean energy for sustainable development. The city is also implementing new investment attraction policies to encourage the shift from traditional manufacturing models to smart factories.At the same time, the city is implementing policies offering 100- percent interest rate support and funding assistance amounting to VND200 billion. These policies enable businesses to invest in innovation and shift to smart manufacturing in order to keep pace with current economic development trends.“Recently, HCM City has provided favorable conditions for industrial enterprises to connect with multinational corporations to receive technology transfer and production management experience. This will help domestic enterprises gradually modernize production and prepare for their participation in global supply chains. The city will accompany businesses in technological innovation and production expansion,” affirmed the leaders of HCM City.Thanh Thao

Ho Chi Minh (HCM) City aims to become a smart city by 2030, identifying the semiconductor industry as the core in the Fourth Industrial Revolution.

HCM City: Strong leap into semiconductor industry

<figure class="image"><img src="https://api.orangemedia.com.vn/images/image_20241129012940.png"></figure>According to the report, the number of Vietnamese students at U.S. universities and colleges continues to grow, reaching 22,066 students in academic year 2023–2024.Nearly 50 percent of the Vietnamese students in the U.S. choose to study in science, technology, engineering, and mathematics (STEM) fields, contributing to Viet Nam's goals of strengthening workforce development in high-tech industries.U.S. Secretary of State Antony Blinken emphasized the significance of this contribution when he said, "International exchanges build new bonds that help us to collaborate on critical issues."As part of efforts to implement the Comprehensive Strategic Partnership as well as a new Memorandum of Cooperation between the U.S. Department of State and Ministry of Education and Training, the U.S. Mission to Viet Nam sponsored an exchange program for 18 higher education stakeholders on improving technical training.The mission has expanded English language programs and STEM education activities for Vietnamese youth, launched the Fulbright Visiting Researcher program for science and technology, and opened more Fulbright scholarship programs to science fields.The U.S. Mission to Viet Nam is dedicated to bringing a wider range of U.S. higher education institutions to Viet Nam and expanding higher education partnerships through dedicated workshops, outreach, and visits by representatives from U.S. higher education institutions.The IIE is one of the world’s most experienced global higher education and professional exchange agencies. An independent, not-for-profit organization founded in 1919, IIE is a resource for students, educators, universities, foundations, and governments worldwide./.&nbsp;

Viet Nam leads ASEAN countries in the number of students studying in the U.S., a report released by the Institute of International Education (IIE) shows.

Viet Nam leads ASEAN in number of students studying in U.S.

<figure class="image"><img src="https://api.orangemedia.com.vn/images/image_20241122013227.png"></figure>The move aims to realize the National Strategy for digital economy and digital society development through 2025, with an orientation towards 2030.The plans highlights the importance of developing information and communication technology industry as a foundation to promote digital economy.The Government targets to promote the readiness, integration and sharing of high-quality databases; stimulate digital platform based consumption and digital governance at central and local levels.Under the National Strategy approved in 2022, the Government targets to raise the share of digital economy to GDP to 20 percent and its proportion in each industry to at least 10 percent by 2025.The proportion of e-commerce in total retail sales is expected to reach over 10 per cent, the rate of enterprises using e-contracts over 80 per cent, the rate of small and medium-sized enterprises (SMEs) using digital platforms over 50 per cent, and the percentage of digital economy workers over 2 per cent of the workforce.Viet Nam's digital economy is projected to post a compound annual growth rate (CAGR) of 16 percent, reaching US$36 billion in 2024, with e-commerce and online travel as the primary growth drivers, according to the 9th edition of the e-Conomy SEA report "Profits on the Rise, Harnessing SEA's Advantage" released by Google, Temasek, and Bain &amp; Company./.

Standing Deputy Prime Minister Truong Hoa Binh has signed a decision issuing an action plan on digital economy development for 2024-2025.

Gov't issues action plan on digital economy development for 2024-2025

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/20/15/tra-fish-273520241120153547.jpg?rt=20241120153548" alt="Tra fish processing (Photo: VNA)"></figure></td></tr><tr><td>Tra fish processing (Photo: VNA)</td></tr></tbody></table></figure>The sector is forecast to complete the export target of over 2 billion USD this year, contributing to bringing the export turnover of aquatic exports to surpass 10 billion USD as set out by the Ministry of Agriculture and Rural Development in early 2024.At present, Vietnamese tra fish has been available in over 150 markets, enduring many ups and downs, but it has remained resilient, thanks to the efforts of processing and export businesses.According to To Thi Tuong Lan, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), greening the entire production, processing, and consumption chain of agricultural products, including tra fish, is a requirement of the European market. However, this is also a global trend, as countries aim to protect the global environment and reduce emissions in production sectors. This work has been discussed within the industry for many years. However, the preparation for this shift has been relatively slow.According to Tran Dinh Luan, Director General of the Directorate of Fisheries, the agency has guided units to invest in technology for tra fish breeding, with an aim to ensure that the industry can meet the market demand for reduced emissions throughout the production and processing process in the near future. This is also part of its preparation efforts for next year.The directorate is also providing technical guidance on tra fish care using probiotics to treat emissions directly at the farm. By applying technology in farming to reduce energy consumption and water usage, the industry aims to demonstrate the economic effectiveness of sustainable production and processing. Regarding capital requirements, the government has implemented several policies to help enterprises access funding at favourable interest rates. Specifically, the directorate has introduced small projects and initiatives focused on energy reduction and production cost savings, encouraging businesses to adopt green production and processing practices within the tra fish supply chain, Luan added.Deputy Minister of Agriculture and Rural Development Phung Duc Tien urged ministries, sectors, and localities to develop industrial-scale farming with a focus on biosafety, tight control over antibiotic use, green production, the formation of a supply chain, and the development of potential markets./.

Greening production and processing to meet export requirements is both a trend and a necessity for many industries, including the tra fish sector.

Tra fish sector aiming for production, processing greening for sustainable development

<figure class="image image_resized" style="width:777px;"><img src="https://bcp.cdnchinhphu.vn/344443456812359680/2024/11/18/san-bay-quoc-te-cat-bi-17319171501291446541059.jpg" alt="Construction begins on cargo terminal at Cat Bi International Airport- Ảnh 1."></figure>Cat Bi International Airport in Hai PhongIn the initial phase, the terminal is designed to handle 100,000 tons of cargo per year, slated for completion and operation by 2026.Its capacity will be expanded to 250,000 tons of cargo in the following phase.The airport is a key gateway in Viet Nam, playing a vital role in the socio-economic development of the city, the northern coastal region, and the Red River Delta, said ACV Deputy General-Director Tran Anh Vu.&nbsp;In recent years, Hai Phong has seen rapid growth and a significant number of investors. Its increasing demand for the transport of high-tech goods by air highlights the urgent need for enhanced aviation logistics services, Tran added.At present, the airport handles around two million passengers annually, prompting the need for further upgrade.&nbsp;To meet growing travel demand, the Ministry of Transport on July 15 approved a master plan for the development of Cai Bi International Airport in the 2021-2030 period, vision to 2050.Under the plan, another passenger terminal will be built at the Hai Phong-based airport to increase its annual capacity to 13 million passengers by the end of this decade and 18 million passengers by 2050.Cat Bi airport has been one of the five busiest airports in Viet Nam to apply non-stop toll collection since this May./.

The Viet Nam Airports Corporation (ACV) on Monday began construction of a cargo terminal at the Cat Bi International Airport in Hai Phong city.

Construction begins on cargo terminal at Cat Bi International Airport

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/14/17/6a20241114170314.jpg?rt=20241114170316" alt="With an increase in import orders, especially during the coming year-end shopping season, garment makers expect to meet the US$44 billion export earnings target this year"></figure></td></tr><tr><td>With an increase in import orders, especially during the coming year-end shopping season, garment makers expect to meet the US$44 billion export earnings target this year</td></tr></tbody></table></figure>According to the Vietnam Textile and Apparel Association (VITAS), Vietnam raked in US$36.11 billion from garment and textile exports over the past 10 months of the year, representing a 9.86% increase year on year. October alone saw garment and textile export earnings rise 10.7% month on month to US$3.86 billion.Experts attributed the high growth to a shift in orders from China, Bangladesh, and Myanmar to Vietnam, decreasing inventory in key markets such as the US, Europe, and Japan, and an upward trend in consumer demand and orders from partners.Indeed, according to VITAS chairman Vu Duc Giang, Vietnam’s textile exports continue to improve toward the year-end, with growth expanding compared to earlier months. Key export markets, including the US, EU, Japan, and China, have maintained steady growth, while ASEAN, Russia, and Canada have emerged as promising markets for boosting production and exports.In addition, the ongoing decline in freight rates is supporting export growth. Furthermore, easing interest rates in the US and Europe is anticipated to stimulate year-end shopping demand.Vietnam’s textile and garment exports have high expectations for the year-end shopping season, especially with increased demand in major markets like the US and Europe. The holiday season, including Black Friday, Christmas, and New Year, typically boosts demand for textile products, driving revenue growth for export companies.In the long term, when interest rate cuts in major markets positively impact the economy, leading to stable employment and purchasing power, unit prices are expected to improve even further, said experts.Le Tien Truong, Chairman of the Board of Directors of the Vietnam National Textile and Garment Group (Vinatex), noted that Vietnamese garment makers are benefitting from improved consumer demand in key textile export markets and the political instability in competing countries like Bangladesh and Myanmar. Many garment companies have already secured orders through the second quarter, and even into the third quarter of 2025.“It’s expected that garment makers will benefit as US consumer demand improves during the coming holiday shopping season. Demand and unit prices will only truly improve starting in 2025 in an optimistic scenario. With such favorable factors, Vietnam’s textile industry faces significant market opportunities and is poised to consolidate its position as a bright spot on the global textile map,” said Truong.Despite optimism, Vietnam’s garment industry still faces significant competitive pressures when exporting to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) markets. Some countries benefit from tariff preferences as developing economies, while Vietnam has higher labour costs and pressures related to social insurance, health care, and the need to fully implement commitments under new-generation free trade agreements.However, comparing Vietnam’s competitive advantages, Vietnamese textile companies benefit from the country’s strategic location, large port system, and the ability to produce a wide range of high-value products such as suits, winter coats, swimwear, and more, with diverse designs and fast delivery.Vietnam’s textile products have been exported to more than 100 countries and territories worldwide. With the year-end shopping season approaching, garment makers are trying to diversify customer groups and product offerings, introduce new products with innovative materials and designs, and meet the stringent standards of their partners, so as to achieve the export target of US$44 billion this year./.

Despite ongoing challenges, Vietnamese garment makers are optimistic about the coming year-end shopping season, seeing it as an opportunity to meet the export earnings target this year.

Garment makers pin hopes on coming year-end shopping season

This initiative is particularly focused on the cities of Da Nang and Ho Chi Minh City, which are poised to become key players in the Southeast Asian financial landscape. The collaboration encompasses various sectors, including finance, technology and education, aiming to enhance Vietnam's capabilities in these areas.The relationship between the UK and Vietnam has evolved dramatically over recent years.The UK is recognised as the second-largest exporter of financial services globally, with exports reaching 88.7 billion GBP (nearly 114.6 billion USD) in 2022. London serves as a global financial centre, hosting 170 banks and a multitude of fintech companies.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://ven.congthuong.vn/stores/news_dataimages/2024/112024/13/17/in_article/q-2-hcm20241113171236.jpg?rt=20241113171236" alt="UK stands ready to help Vietnam build international financial hub"></figure></td></tr><tr><td>A view of HCM City's District 2 with Hanoi Highway and Metro Line 1 Ben Thanh - Suoi Tien. District 2 is undergoing development to emerge as a financial hub. (Photo: VNA)</td></tr></tbody></table></figure>This backdrop provides a solid foundation for collaboration as Vietnam seeks to develop its own financial sector.In October 2023, the government established a Steering Committee to develop the Regional and International Financial Centre Project, which is led by Prime Minister Pham Minh Chinh. The project aims to position Da Nang as a regional financial centre and HCM City as an international financial hub.Meanwhile, Da Nang has set ambitious goals to become a leading economic centre in Southeast Asia by 2030. The city aims to focus on two primary sectors: semiconductors and artificial intelligence (AI), alongside developing its international financial hub.This vision is reinforced by the National Assembly’s Resolution No. 136/2024/QH15, which outlines specific policies to attract strategic investors and enhance financial management practices within the city.Ho Ky Minh, Vice Chairman of the Da Nang People's Committee, stressed the need for the UK’s support in drafting legal frameworks that would facilitate the establishment of this financial centre.At a meeting with Alexandra Smith, the newly appointed British Consul General in HCM City, in late October, Minh expressed his hope for collaboration with UK consular representatives to promote Da Nang as an attractive investment destination."In the near future, as authorities at all levels come to a consensus on the implementation of international financial centres in HCM City and Da Nang, we eagerly anticipate the support of the British Consulate General in HCM City in formulating the National Assembly's resolution on related legal issues," Minh said.Meanwhile, Alexandra said that the UK was eager to actively collaborate and assist Da Nang in advancing emerging areas such as AI, digital transformation and establishing an international financial hub.In September, Michael Mainelli, the Lord Mayor of London, who has a financial background, made a historic visit to Vietnam, the first Lord Mayor of the City of London to visit the country in the past decade, underscoring the UK's commitment to supporting Vietnam’s ambitions in establishing an international financial hub.During this visit, he engaged with key Vietnamese officials and stakeholders to share insights and strategies for building a robust financial infrastructure.The Mayor also looked forward to the exciting upcoming collaboration between Vietnam’s new international financial hub and the City of London's Financial District.The partnership between the UK and Vietnam spans several key areas.In terms of financial services, the UK's expertise can be invaluable for Vietnam as it seeks to modernise its financial systems.The UK's experience in regulatory frameworks and market operations can provide crucial guidance for Vietnamese policymakers. Initiatives may include capacity-building training programmes for Vietnamese professionals in finance and investment management, as well as assistance in developing legal structures that support foreign investment and ensure market stability.Technology integration into finance is vital for creating a competitive international hub. The UK is home to numerous fintech companies that can share their knowledge with Vietnamese counterparts.Potential collaborations could involve leveraging AI technologies to enhance service delivery in finance and supporting Vietnamese banks and financial institutions in adopting digital solutions to improve efficiency.Infrastructure development is another critical area where UK assistance can play a significant role. Infrastructure is essential for establishing a successful financial hub, and the UK can aid Vietnam in developing projects such as transportation networks that enhance connectivity through investments in urban rail systems and airports.Additionally, collaboration on smart city initiatives will promote sustainable urban development aligned with global standards.As Vietnam aims for net-zero emissions by 2050, green finance will be central to its economic strategy. The UK's commitment to green initiatives can significantly benefit Vietnam’s transition towards sustainable practices.This includes supporting projects that focus on offshore wind energy and developing green bonds and other financial instruments that promote environmental sustainability.Opportunities for UK BusinessesUK businesses stand to gain significantly from engaging with Vietnam’s burgeoning economy. As trade relations continue to strengthen, evidenced by bilateral trade doubling from 3 billion GBP to 6 billion GBP over the past decade, opportunities abound across various sectors.Companies like Standard Chartered have already expressed enthusiasm about contributing to this partnership by facilitating investments and sharing expertise in areas such as green finance and digital innovation.Furthermore, with the UK's impending accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), there will be enhanced access for UK services in Vietnam, fostering greater collaboration.

The UK’s support for Vietnam in establishing an international financial hub is a significant development that reflects the growing economic ties between the two nations.

UK stands ready to help Vietnam build international financial hub

<figure class="image image_resized" style="width:50%;"><img src="https://api.orangemedia.com.vn/images/thuong-mai-dien-tu-2_20240830030503.jpg"></figure>With the goal to be a dedicated consultant for your brand, Orange will answer to all of your questions and issues in the process of online advertising for your product. Each online advertising channel has some fixed effect with your product. There are many online advertising channels such as Google search engine advertising, social media ads (Facebook, Linkedin, Zalo, etc), online newspapers such as VnExpress, Dantri, Thoiluan24h, etc. Depending on the product and your target audience, we will give you the most suitable advertising channel.

With the goal to be a dedicated consultant for your brand, Orange will answer to all of your questions and issues in the process of online

BOOKING

Marketing has changed as digital extends into all areas of our lives. While this gives advertisers greater opportunities, it also means customers expect more. Audiences today want services and content that meet their needs, wherever they are, whatever they're doing.At Orange, we're not just specialists in different types of digital marketing - we also know how to bring it together. By putting the customer at the center, we create simple, effective strategies that connect with people across every channel - and grow business in ways they can measure.We’re steadfast in our belief that clarity leads to better results and we use that thinking to power campaigns that help clients improve their marketing impact. We help clients across a diverse range of industries strengthen their brands, ramp up their marketing and grow their share of voice.VISION AND MISSIONOrange aims to become one of the pioneers in marketing. In addition to enhancing and developing traditional marketing such as event management, product promotion, we have been pioneering the expansion of the new Digital Marketing field with the expectation of welcoming the trend and connecting with Global.For Employees: At Orange, we believe “people are the precious assets of the nation" We want to become a second family to each member. We care and create the best condition to work for every member of the company.For customers: Orange always wants to bring the best products and services to customers. We work with the slogan "Bring the best solution to customers". Come to us and you will never be disappointed.For society: We bring benefits to society in a certain way in terms of marketing; create jobs and dynamic environment for young people who have the desire to express themselvesCORE VALUEAmbitiousWe work to make things better. Our aim is high and we never settle.ResponsibleQuality is our first purpose. We take responsibility for our actions. We openly communicate and treat people well in every job we do.CollaborativeWe work alongside media agency, marketing agency and state agency to achieving outstanding results by sharing ideas and knowledge with the best in the business.AgileWe move fast. Real-time reporting, close ties with media agency, and an instinct for trends means we spot opportunities first.PEOPLEOrange’s team has a solid foundation and passion for business management, marketing, finance and development solutions to help businesses grow their markets. Our team is talented and diverse, has the capacity to execute and speaks frankly, behaves in a positive way, accepts challenges and embraces the introduction of intelligent solutions based on modern knowledge. We employ people who are capable of leadership, creativity, enthusiasm in work and the ability to work as well as run a team.

MARKETING HAS CHANGED AS DIGITAL EXTENDS INTO ALL AREAS OF OUR LIVES. WHILE THIS GIVES ADVERTISERS GREATER OPPORTUNITIES, IT ALSO MEANS CUSTOMERS EXPECT MORE. AUDIENCES TODAY WANT SERVICES AND CONTENT THAT MEET THEIR NEEDS, WHEREVER THEY ARE, WHATEVER THEY'RE DOING&nbsp;<figure class="table"><table><tbody><tr><td>At Orange, we're not just specialists in different types of digital marketing - we also know how to bring it together. By putting the customer at the center, we create simple, effective strategies that connect with people across every channel - and grow business in ways they can measure.</td><td>We’re steadfast in our belief that clarity leads to better results and we use that thinking to power campaigns that help clients improve their marketing impact. We help clients across a diverse range of industries strengthen their brands, ramp up their marketing and grow their share of voice.</td></tr></tbody></table></figure>

About

<figure class="image"><img src="https://api.orangemedia.com.vn/images/SEO-Skills_20240830030557.jpg"></figure>SEO - Search Engine Optimization (SEO) is now known as the most effective tool in Online Marketing System. SEO services have emerged since Google became the number one search engine in the world. SEO is the foundation for success. SEO is always a very important part of the campaign to reach customers. Our SEO services always ensure two main factors are high quality and affordable. You just need to come up with a requirement and we will offer a total SEO solution on search engines. Let us know what you need and we will help you.

SEO - Search Engine Optimization (SEO) is now known as the most effective tool in Online Marketing System. SEO services have emerged since Google

Our Expertise

<figure class="image"><img src="https://api.orangemedia.com.vn/images/rqpolxa6ivcvuzkbol5c1a1b4aea4f4_20240830030622.jpg"></figure>Digital Marketing is an activity that has many advantages in the period of internet explosion. However, it does not always deliver remarkable benefits, it’s a double-edged sword. Internet is multi-dimensional and that bring to users the right to speak their voice.Therefore, in order to have a successful Digital Marketing campaign, it is necessary to build a proper campaign from the beginning with the motto of prestige, focus on quality. Orange is pleased to bring you the Digital Marketing solution package as required by your brand to get maximum effect.

Digital Marketing is an activity that has many advantages in the period of internet explosion. However, it does not always deliver remarkable

Digital Marketing 

NEWS

<figure class="image image_resized" style="width:50%;"><img src="https://api.orangemedia.com.vn/images/social-media-marketing-1728x800_c_20240830030849.png"></figure>Always follow and understand the needs and behavior habits of people in modern life, making specialized social media marketing campaign such as Facebook Management, Forum Seeding, KOLs, Youtube Channel, Viral Clip,… is the responsibility of Orange Ltd. We devote our knowledge and time to your brand. This is what makes us the most trusted place in the hearts of consumers.

Always follow and understand the needs and behavior habits of people in modern life, making specialized social media marketing campaign such as

SOCIAL

<figure class="image"><img src="https://api.orangemedia.com.vn/images/service-spotlight-website-management_20240830030746.jpg"></figure>When creating a website or a fan page for business purposes, it will be very difficult to make benefits if introducing products without development orientation and innovative content ideas. Developing a website or fan page may seem simple but make it appear on search engines or gets interactions from internet users is not a simple task. Orange is the right place you need to go if you need help with your website and fan page.

When creating a website or a fan page for business purposes, it will be very difficult to make benefits if introducing products without development&nbsp;

MANAGING WEBSITE

<figure class="image"><img src="https://api.orangemedia.com.vn/images/adwords-tips_20240830031032.png"></figure>Google has now become the number one search engine in the world. In Vietnam, 90% of internet users use Google for their need of internet search. Therefore, Google Adwords has quickly used for online businesses to achieve maximum efficiency. We are here to bring you the Google Advertising service with the most outstanding features.

Google has now become the number one search engine in the world. In Vietnam, 90% of internet users use Google for their need of internet search

GOOGLE ADWORDS

https://www.facebook.com/plugins/page.php?href=https%3A%2F%2Fwww.facebook.com%2FOrangeCNI&tabs=timeline&width=340&height=130&small_header=false&adapt_container_width=true&hide_cover=false&show_facepile=true&appId=716244723435285