Vietnam news in brief - February 11

First Vietnamese expert becomes UNESCO Memory of World Program’s committee member

Vu Thi Minh Huong, former Director of the State Records and Archives Management Department of Vietnam cum Vice President of UNESCO’s Memory of the World Program – Asia-Pacific, has been appointed as the Member of the program’s International Advisory Committee for the 2024-2028 tenure. Huong is the first Vietnamese to become a member of the committee.

The committee comprises 14 members selected from different continents by the UNESCO General Director. The committee facilitates the preservation of the world’s documentary heritage, catalyzes universal access to documentary heritage, and enhances public awareness worldwide of the significance of documentary heritage.

Uruguayan newspaper introduces Vietnamese Tet festival

Uruguay's Grupo R Multimedio newspaper has published an article introducing the traditional beauty of Vietnam's Tet Nguyen dan (Lunar New Year) festival, the most important festival of the year. The article describes Tet Nguyen dan as a sacred occasion eagerly anticipated by all Vietnamese people in Vietnam and around the world.

The article emphasizes the preservation of traditional Tet customs, such as ancestor worship, family reunions, visiting relatives, giving blessings, and celebrating the elderly and children. The article highlights the significance of Tet in preserving and promoting Vietnamese cultural traditions, even in the process of international integration.

VietJet opens new route from Ho Chi Minh City to Chengdu, China

Vietnam’s budget carrier VietJet on February 10 launched the first flight connecting Ho Chi Minh City to Sichuan Province’s capital Chengdu in China, aiming to boost travel and business activities between the two localities. There are seven return flights a week. Each flight will take passengers four hours to travel between the two cities.

On the occasion, the passengers also received lucky money to celebrate the lunar new year.

Vietnamese stock market to grow well in 2024: VinaCapital

Investment firm VinaCapital remains optimistic about the Vietnamese equity market in 2024 despite ongoing geo-political tensions and economic downturn. The company assumes corporate earnings will grow 10-15% this year, and the market’s overall price-to-earnings per share (P/E) ratio will diminish to 10, some 26% lower than others in ASEAN.

Technology and telecommunication, industrial park development, seaport operation, consumer sector, and infrastructure developers will benefit from the macroeconomic conditions, while banks remain stable during the year, VinaCapital forecasts.