Vietnam news in brief - January 30

Vietnam seeks to chair ASEAN Future Forum in 2024: Foreign Minister

Vietnam aims to host the ASEAN Future Forum in 2024, Foreign Minister Bui Thanh Son said on January 29 on the sidelines of the ASEAN Foreign Ministers' Retreat in Luang Prabang, Laos. The forum, hosted by Hanoi in April, will discuss issues and people-centered solutions for sustainable rapid growth. At the forum, ASEAN foreign ministers will discuss the community's priorities for 2024 under the theme "ASEAN: Enhancing Connectivity and Resilience".

Prime Minister orders stricter measures for traffic offenses

Prime Minister Pham Minh Chinh has signed a document asking provincial and municipal authorities to take measures to combat traffic offenses and ensure road safety during the Tet (Lunar New Year) festival. The ministries of Public Security and Transport must act to prevent unlicensed vehicles from operating, conduct area control to stop illegal races, and ensure that traffic flow is uninterrupted during the Spring Festival.

Registered and disbursed FDI capital up in January

The total registered FDI capital in Vietnam as of January 20, 2024 reached US$2.36 billion, an increase of 40.2% over the same period last year. 

A total of US$1.27 billion was injected into the real estate sector, double the amount in the same period last year, the General Statistics Office said.

Vietnamese retailers embrace social commerce

A local consumer is shopping online at an e-commerce site. Photo: VNA

The latest report from multichannel management and sales platform Sapo shows that the trend of expanding multichannel sales continues, with 55.4% of retailers doing business through physical and online stores. E-commerce platforms remain the most used online sales channel in the retail industry.

A notable highlight in 2023 was that retailers tended to expand their presence on TikTok Shop (with a slight increase to 5.9% of businesses selling primarily on the TikTok channel, compared to 2022).

Improving digital literacy for young women entrepreneurs

Launched on December 15, 2023, the Empower Her Tech program aims to improve the digital skills of young women entrepreneurs. Co-organized by the United Nations Development Program (UNDP) and Alobase, the program provides young women with the basic knowledge of artificial intelligence and digital 4.0 technologies needed to improve their work performance and thereby benefit businesses. The program has attracted nearly 300 enrollment applications from all provinces and cities across the country.

Ha Long Bay's Titop beach among the top 100: Lonely Planet

Titop Island in Ha Long Bay, Quang Ninh Province. Photo: reviewhalong.com

Titop Beach in Ha Long Bay, Quang Ninh Province has been named one of the 100 best beaches by the Lonely Planet travel guide in its latest publication, "Best Beaches: 100 of the World's Most Incredible Beaches. The beach was named after the Soviet astronaut Gherman Stepanovich Titov, who visited the place in 1962. The island is located about 7-8 km from the coast of Quang Ninh Province to the southeast.

Vietnamese consumers spend US$21 million in Tet month

The General Statistics Office reported on January 29 that total retail sales of consumer goods and services are estimated to reach more than US$21 million this month, up 1.6% compared to December 2023 and 8% compared to the same period last year, or 5.8% if the price factor is excluded. This is due to the strong increase in commercial and service activities around the Lunar New Year to meet people's consumption needs.

Vietnam's tra fish industry to hit US$2 billion in exports in 2024

Vietnam's tra fish industry aims to reach $2 billion in export revenue in 2024. In 2023, tra fish exports fell by 25% due to reduced purchasing power in major markets, according to the General Department of Customs.

In 2023, the export of tra fish to major markets dropped significantly. Vietnamese seafood exports, including tra fish, faced numerous difficulties, such as economic recession, tightened spending by people in developed countries, high inventory, and global inflation.