LUXURY HOTEL SEGMENT SEES SHARP EXPANSION
According to a Savills Viet Nam quarterly report, with no new hotels opening in HCM City in the fourth quarter last year, the three- to five-star segment ended the year with 125 hotels and more than 15,900 rooms.
FOOD FEST TO PROMOTE SAIGON’S CHINESE CULTURE
The ‘Cho Lon-Food Story’, to be held at Van Lang Park on Hong Bang Street in District 5, will be a joint effort by authorities in District 5, home to the largest Chinese community in the city, ride-hailing firm Grab and tourism consultancy Outbox Consulting.
REAL ESTATE RETAINS SECOND POSITION IN FDI ATTRACTION
Real estate remained the second biggest magnet for foreign direct investment (FDI) in 2019, following processing – manufacturing, as it attracted 3.88 billion USD of FDI, equivalent to 10.2 percent of the total registered.
BANKING SECTOR URGED TO PROVIDE SERVICES IN SHORTEST TIME WITH LOWEST COSTS
Credit growth in 2019 was estimated at 13% against last year, almost doubling the growth rate of the gross domestic product, according to the State Bank of Viet Nam.
OREIGN-RELATED POLICIES TAKE EFFECT IN 2019
A series of new policies on conditions on setting up a foreign-invested vocational education institution in Viet Nam, use of foreign currencies, and social Insurance for employees who are foreign nationals took effect in 2019.
LOGISTICS ENTERPRISES: LARGE QUANTITY BUT SMALL MARKET SHARE
Currently there are more than 4,000 transport and logistics companies operating in Vietnam, providing diverse and comprehensive services from the process of transporting goods to taxation or payment; in which 88% are domestic enterprises, 10% are joint-venture enterprises and 2% are foreign enterprises, concentrated mainly in two big cities, Hanoi and Ho Chi Minh City.
INVITATION TO THE TRA VINH INVESTMENT PROMOTION CONFERENCE 2020
The People's Committee of Tra Vinh Province will tentatively hold the Investment Promotion Conference of Tra Vinh Province January 14th - 15th, 2020 in Tra Vinh Province, under the auspices of the Vietnamese Prime Minister Nguyen Xuan Phuc. Among the attendees of the Conference are Leaders from ministries; provinces; and economic groups, demonstrating the priority given by the Government of Viet Nam to the socio-economic development of Tra Vinh Province.
SIX LAWS BEING PUT INTO EFFECT FROM BEGINNING OF 2020
Operating vehicles under the influence of alcohol will be officially banned from Wednesday as part of the Law on Prevention and Control of Alcoholic Beverages’ Harmful Effects.
