Vietnam News Highlights for July 31, 2023

Vietnamese rice exports reach highest prices in 12 years

The price of Vietnamese 5% broken rice exports hit US$550-575 per ton last week, the highest in 12 years, compared to US$515-525 per ton recorded in mid-July. The prices are expected to go up due to strong global demand, which partly resulted from India’s ban on rice exports.

On July 20, India banned local producers from exporting rice to the international market to ensure food security and stabilize its domestic market.

CPI rose by 0.45% in July

Local consumers are shopping at Big C supermarket. Photo: The Hanoi Times

Vietnam’s consumer price index (CPI) in July edged up 0.45% from June as consumption of food and electricity hiked in tourism sites, according to the General Statistics Office. July CPI rose 1.13% from the beginning of the year and expanded by 2.06% on-year. The January-July CPI was up 3.12% year-on-year.

Core inflation in July, excluding food, energy, healthcare and education, inched up 0.36% monthly and 4.11% on-year. After seven months, core inflation added 4.65% on-year.

Over 80 best young entrepreneurs honored

More than 80 outstanding young entrepreneurs were honored on July 30 at a ceremony held by the Vietnam Young Entrepreneur Association and the Ho Chi Minh Communist Youth Union. These young businessmen in 2022 made a total revenue of VND1.7 trillion (US$71.8 million) and a net profit of VND104 billion (US$4.4 million).

First held in 2015, the award has motivated young startups to develop.

Danang Airport to initiate electronic check-in counters for Korean Air passengers

The Danang International Airport will activate electronic check-in kiosks for passengers of Korean Air to conduct their boarding process. Korean Air is the first foreign airline to enjoy such service in Vietnam, which will become valid on August 1.

The user-friendly, bilingual self-checking kiosks are expected to help the airport complete its digitalization and reduce the time and expenses for passengers.

Khanh Hoa Province grants ownership certificates for condotel owners

Authorities of the central province of Khanh Hoa will issue land ownership certificates to the owners of condotel properties, which are commercial and service-only units and illegible for residing.

A large number of condotel units had been purchased recently in Nha Trang City and northern Cam Ranh Bay of Khanh Hoa Province. But unclear regulations tackled them from obtaining land ownership certificates.

Vietnam’s racing team to compete in Asian Cross Country Rally 2023

Steelmate Racing has become Vietnam’s second car racing team to compete in the Asian Cross Country Rally (AXCR) 2023, after AKA Racing in 2019. The two teams expect to pave the way for local drivers to go international.

AXCR 2023 is among the hardest races in Asia. The race is held in six days between August 13 and August 19. Drivers will compete on a distance of a total 6,000km spanning from Pattaya (Thailand) to Pakse (Laos).

Foreign ministry works on the death of Vietnamese man in Phnom Penh

The Ministry of Foreign Affairs on July 30 announced that it has worked with the authorities of Phnom Penh, Cambodia, to investigate the death of a Vietnamese man. The Vietnamese Embassy in Cambodia has identified the victim, reported the case to his family and assisted their administrative and diplomatic proceedings.

On July 29, a 34-year-old Vietnamese man was shot on the street of Phnom Penh. The suspect was then arrested and further investigation is being carried out.