Vietnam News Highlights for May 27, 2023
Stay up to date with the best news about Vietnam for today.
Vietnam monitors super typhoon Mawar
| Satellite picture of Mawar typhoon approaching the Philippines on the morning of May 27. Photo: PAGASA |
Vietnam's National Center for Hydro-Meteorological Forecasting closely watches super typhoon Mawar, a powerful tropical cyclone, barrelling toward the Philippines.
Mawar is the strongest storm ever observed worldwide during May and beats out anything seen globally in 2022. It fits into a pattern of more intense storms in an era earmarked by warming oceans and human-induced climate change.
Photo exhibition in HCM City to remember Most Venerable Thich Quang Duc
A photo exhibition celebrating the life and legacy of the Most Venerable Thich Quang Duc opened at the Viet Nam Quoc Tu (National Pagoda of Vietnam) in Ho Chi Minh City on May 26. The exhibition features 90 photographs of the monk's life, including the moment of his self-immolation in 1963 and several first-seen pictures. It honors his sacrifice for the independence of the nation, Buddhism, and Vietnamese culture.
As part of a series of activities held during the Buddhist Vesak celebration week, the exhibition will run until June 2.
Visa exemptions recommended for golfers, private jet travelers
The Vietnam Tourism Advisory Board (TAB) has proposed visa exemptions for golf tourists and private jet travelers to boost international tourism. They also support extending e-visa validity to three months, allowing multiple-entry e-visas, and tripling visa-free stays for some tourists to 45 days. TAB has suggested granting five-year visas to foreign individuals who purchase residential real estate in Vietnam. The country received only 3.6 million foreign tourists last year. Discussions on immigration adjustments to make it easier for foreigners to enter Vietnam are expected in the coming days.
Vietnam attracts US$10.86bn in foreign investment in five months
Vietnam attracted US$10.86 billion in foreign direct investment (FDI) between January and May 2023, with newly registered capital reaching over US$5.26 billion - a 27.8% increase. Investment through capital contribution and share purchase amounted to nearly US$3.32 billion, a 67.2% increase. Hanoi, Bac Giang Province, Ho Chi Minh City, Binh Duong, and Dong Nai were the biggest FDI receivers.
Large corporations are carefully evaluating the prospects of continuing major investments in Vietnam, taking into account the implications of the global minimum tax policy.
Vietnam ranks second in Apple’s manufacturing hub list
Vietnam's number of Apple partner factories increased from 16 to 27 between 2016-2022, ranking second in Southeast Asia and seventh worldwide, as the US tech firm is looking for alternate manufacturing hubs, particularly in Southeast Asia.
Vietnam is seen as an attractive destination for Apple on expectations that the country will contribute significantly to Apple's production, particularly in AirPods, iPad, and Apple Watch, despite its lack of large companies to participate in the supply chain.
Theater of ethnic groups’ cultures to be built
The Ministry of Culture, Sports and Tourism plans to build the Vietnam Ethnic Group Theater, according to Minister Nguyen Van Hung. The project aims to create a modern and culturally significant landmark that promotes the image of Vietnamese ethnic groups.
The ministry finds it best to build the ethnic group theater behind the Hanoi Opera House. However, the current proposed site is facing significant obstacles in terms of land clearance.
Italian agencies launch platform to boost ASEAN trade
The Italian Trade Agency in Vietnam on May 26 initiated the ASEAN Education and Business Program (VELP 2023) portal to connect Vietnamese businesses with Italian partners or suppliers and provide updated information on Italian small and medium-sized enterprises. The platform is developed with the Italian Ministry of Foreign Affairs and International Cooperation and the General Confederation of Italian Industry.
Vietnam is now Italy's biggest trade partner in ASEAN, and Italy is the fourth largest trade partner of Vietnam in the EU.
