Business

Many roads in Da Lat City in the Central Highlands province of Lam Dong have seen traffic jams since the second day of the 2023 Tet Lunar New Year following a sharp rise in visitors.

After struggling to recover from the negative impacts of the COVID-19 pandemic, Ho Chi Minh City took back what it lost, achieving positive results in its socio-economic development in 2022.

Despite enduring the long-term impact of the COVID-19 pandemic, Vietnam still managed to attract a large amount of foreign direct investment (FDI) in 2022, with the outlook forecast to be optimistic moving into 2023.

The Central Institute for Economic Management (CIEM) has developed two scenarios for the Vietnamese economy in 2023 after an 8% growth rate was recorded in 2022.

Seaports nationwide are still working through Lunar New Year (Tet) break to ensure that import-export activities are not disrupted, according to the Vietnam Maritime Administration (VMA).

Vietnam is likely to attract roughly US$ 36-38 billion in foreign direct investment (FDI) this year, while last year’s figure neared US$22.4 billion, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Despite a sharp fall in exports before the end of 2022 due to global inflation, tuna still brought home 1 billion USD in revenue last year, up 34% from 2021, becoming a billion-dollar commodity for the first time, data showed.

Shopping activities are in full swing at commercial centres and supermarkets nationwide, with a diverse, rich, and abundant range of items on offer for the Lunar New Year, known locally as Tet.

Foreign investment inflows into Vietnam will likely reach US$36-38 billion in 2023, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

Vietnam’s export of agro-forestry-aquatic products hit a record revenue of over 53.22 billion USD last year, up 9.3%, including nearly 11 billion USD from aquatic products.

VNDirect Securities Corporation expects Vietnamese foreign exchange reserves to recover to 3.3 months of imports and reach 102 billion USD by the end of this year, said in its updated macro report.

The trade turnover between Vietnam and the European Union reached 76.3 billion USD last year, a year-on-year increase of 5.1%, according to the European-American Market Department under the Ministry of Industry and Trade.

Indian news outlet stattimes.com recently published an article saying Vietnam is likely to become a burgeoning industrial hub, especially for tech and apparel, as well as its beautiful beaches and delicious cuisine.

Shops on the central city of Danang’s “Chinese Street” are preparing to reopen to serve Chinese visitors.

US magazine Travel+Leisure has listed Phu Quoc Island among the 23 best destinations to visit in 2023.

The Central Highlands province of Dak Lak – Vietnam’s largest coffee-producing region - is striving to make its capital of Buon Ma Thuot a coffee city of the world with distinctive identities.

WorldSteel Group has just opened its second office building in Long An Province, marking a strong turning point in the development journey of the company.

Despite the hard work of small and medium-sized domestic packaging companies to stay in tune with market demands and apply the latest production technologies, they continue to face a host of challenges.

The Regional Comprehensive Economic Partnership (RCEP), which came into effect a year ago, has brought about great business chances for enterprises in the region, according to experts.