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Feb 20, 2024 / 14:53

Vietnam news in brief - February 20

Read the Hanoi Times for more updates about Vietnam.

Lim Festival to open in Bac Ninh Province

The northern spring cultural event, the Lim Festival, will be kicked off on February 21 in Tien Du District, Bac Ninh Province. The two-day festival will feature UNESCO-recognized quan ho (love duet singing) performances, folk games, calligraphy, and other traditional cultural activities, attracting thousands of participants and visitors.

Electronic games, gambling, dart games, advertising, and other activities with high-volume sound are prohibited. 

Forbes Travel Guide 2024 gives five stars to Vietnamese hotels

The outdoor coffee shop at the Sofitel Legend Metropole Hotel in Hanoi. Photo courtesy of the hotel

The Sofitel Legend Metropole in Hanoi and the Four Seasons Resort The Nam Hai in the ancient town of Hoi An are the two Vietnamese hotels to be awarded five stars by the Forbes Travel Guide 2024. The two hotels also received five stars in the 2023 edition.

The four-star rating is also given to three other Vietnamese hotels: the InterContinental Danang Sun Peninsula Resort in the central coastal city of Danang, Park Hyatt Saigon and The Reverie Saigon in Ho Chi Minh City.

Vietnam vows to make stock market transparent, secure

Market regulators will take drastic measures to ensure the transparent, stable, and safe operation of Vietnam's stock market, Deputy Minister of Finance Nguyen Duc Chi said at the Ho Chi Minh Stock Exchange on February 19. The official reiterated that there will be no exceptions and irregularities will be dealt with strictly to ensure fairness for all stakeholders.

He also called for the joint efforts of investors, businesses, market regulators, and individuals to bring Vietnam's market to the level of emerging markets soon.

Taiwanese company invests US$45 million in hi-tech project in Vietnam

Taiwan-based Good Way Vietnam Technology on February 19 launched the groundbreaking ceremony for a US$45-million project in the northern province of Thai Binh. The project will specialize in the production of computers and computer peripherals.

With a designed capacity of 3.7 million products per year, the project will be executed in two phases, with Phase I scheduled for completion in the third quarter of 2024 and Phase II starting in the fourth quarter of 2026.

Vietnam has 1,647 quality education programs 

The Ministry of Education and Training announced that 1,647 education programs in Vietnam met quality standards. Nearly one-third from 58 universities met international quality standards.

Vietnam spends US$1.43 billion to import meat in 2023

Vietnam imported 716,900 tons of meat and meat products worth US$1.43 billion in 2023, up 5.4% in volume but down 3.9% in value compared to 2022, according to the General Department of Customs. Last year, the country imported meat and meat products from 57 markets around the world with India being the largest supplier with 160,660 tons worth $476.4 million. During the year, Vietnam's meat imports from India and Russia increased while those from the US, Brazil, and South Korea fell compared to 2022.

Hoa Binh Construction Group wins five social housing projects in Kenya

On February 19, Hoa Binh Construction Group announced that it has been awarded five social housing projects for the police, military, and students of the Technical University of Kenya. The five projects comprise a total of 3,400 apartments with an estimated investment of around US$72 million. Hoa Binh has also been invited to participate in the next round of bidding for two other social housing projects in Kenya, following a successful evaluation by the Kenyan government of the credibility and capability of the contractors.

These two projects would involve approximately 6,200 housing units valued at approximately $91.6 million. If successful, the total value of the contracts would be $163.6 million.