Vietnam News Highlights for August 17, 2023

Vietnamese week in Thailand introduces southern items

Delegates visit a booth at Vietnam Week in Thailand on August 16. Photo: Ministry of Industry and Trade

Vietnam Week in Thailand 2023 opened on August 16 in Bangkok under the theme "The Magical Taste of Vietnam". The week-long event enables nearly 100 Vietnamese enterprises to showcase their products and services and expand their networks in Thailand.

In 2022, bilateral trade between Vietnam and Thailand amounted to US$21.2 billion. Vietnam is Thailand's second-largest trading partner in ASEAN and fifth in the world. Meanwhile, Thailand is Vietnam's largest trading partner in ASEAN.

Korean net purchase of Vietnamese shares surges 4-fold in early August

Korean investors net bought US$9.1 million worth of Vietnamese shares from August 1 to 11, four times the net purchases recorded in July, according to the Korea Securities Depository. Korean investors were net sellers of Vietnamese stocks in March-June, but returned as net buyers in July, buying US$2.12 million worth of local shares.

The change in capital flow from South Korean investors is attributed to lower interest rates and better corporate earnings in the second quarter.

Vietnamese course for overseas teachers

A Vietnamese language training course for overseas Vietnamese teachers began on August 16 to promote the mother tongue among Vietnamese living abroad. About 60 Vietnamese teachers have returned from 17 countries and territories to attend the course.

According to Deputy Minister of Foreign Affairs Le Thi Thu Hang, overseas Vietnamese teachers will preserve the Vietnamese language and culture in other countries through the training.

Can Gio expected to be an eco-friendly urban area

Experts advised Ho Chi Minh City authorities to develop Can Gio District into an eco-friendly coastal city to prevent environmental pollution and sustain local socio-economic growth. According to Phan Van Mai, Chairman of Ho Chi Minh City People's Committee, the district can become a hub to connect the city's southern coastal region and open the gate to the international communities.

Can Gio District, the only coastal area in Ho Chi Minh City, is home to a mangrove forest of nearly 76,000 ha, which is recognized as a world natural reserve, home to a wide range of species.

Vietnamese adults earn an average of US$5,000-25,000 in 2022: UBS report

According to the UBS Global Wealth Report 2023, the wealth value per adult in Vietnam ranged from US$5,000 to US$25,000 in 2022. This range puts Vietnam in the same category as Cambodia, Laos, and some highly populated countries such as India, Indonesia, and the Philippines. The report does not clarify how wealth values in these countries changed in 2022 compared to 2021.

The report shows that global wealth fell 2.4% year-on-year to US$454.4 trillion in 2022, with the largest decline in North America and Europe, where the combined value fell US$10.9 trillion.

HCM City International Travel Expo to double in size

The Ho Chi Minh City International Travel Expo 2023 will double in size to further promote Vietnam's tourism products, cultural values and local specialties to foreign visitors. The event is expected to bring together 150 international buyers, 400 travel companies and local tourism promotion agencies.

The 17th edition of the expo, held from September 7 to 9, is expected to attract more customers after the government decided on August 15 to grant e-visa to passengers of all nationalities upon arrival in Vietnam.