Vietnam news in brief - March 7

Hanoi to make international economic integration more effective

Hanoi People's Committee on March 6 issued Plan No. 75/KH-UBND implementing the resolution on improving the effectiveness of international economic integration and promoting rapid and sustainable economic development in the period 2024-2030. Accordingly, the City People's Committee requires departments to reform economic institutions in accordance with commitments to international economic integration, especially with new-generation free trade agreements. They also need to reform administrative procedures for investment, import-export and taxation and develop international economic integration strategies to expand markets and benefit from capital, intellectual property, technology and management skills from developed countries.

Tourists wearing ao dai enjoy free entry to Hue monuments

Hue monuments open doors for travelers wearing ao dai. Photo: the Complex of Hue Monuments

Female tourists wearing traditional Vietnamese ao dai will be given free entry to historical sites within the Hue Monuments Complex on March 8 to celebrate the 114th anniversary of International Women's Day. This activity aims to honor Hue Ao dai, promote the cultural heritage of the ancient imperial city and stimulate tourism.

Pegavision breaks ground on $200m Vietnam factory

Taiwan-based Pegavision Corporation held a groundbreaking ceremony for its US$200 million factory in Vietnam's northern province of Thai Binh on March 5.

The factory will specialize in the production of contact lenses and medical optical equipment, with a planned annual capacity of 600 million units. Once in stable operation, the factory is expected to generate annual revenues of around VND2.8 trillion ($113.06 million) and contribute around VND86 billion ($3.42 million) to the State budget each year. The investor and general contractor aim to complete the construction and installation of machinery for the first phase by the year's end and plan to start the second phase in the fourth quarter of 2027.

Danang calls on TheCityUK to join the international financial center project

The central coastal city of Danang expects support from the British financial firm TheCityUK in developing an international financial center, a meeting heard on March 6. The Government of Danang expects TheCityUK to network with other international companies and organizations and to explore the support of the British Embassy in Vietnam in the development of the center.

Saigontourist Group launches early bird ticket sales for Culinary Festival

Visitors interested in attending the Saigontourist Group Culinary Festival 2024 can now purchase 7,000 early bird tickets at the event. The early bird tickets will be sold until 5pm on March 26.
In its two previous editions, the food festival attracted a total of 80,000 visitors. The festival itself was named Asia's Best Culinary Festival at the World Culinary Awards 2022 and 2023. It is scheduled to take place from March 28-31, 2024.

GSM unveils Vietnam’s first comprehensive EV platform

The electric VinFast taxi service is launched in Hanoi on April 14. Photo: VinFast

Vingroup subsidiary GSM announced on March 6 the launch of its green sharing business platform, called SM Platform, to connect VinFast electric vehicle drivers who want to provide transport services with customers. From 20 March, VinFast electric vehicle (EV) owners nationwide can register to become business partners with SM Platform, including those in areas where SM Platform is not directly available.

Upon successful registration, drivers will be trained on SM Platform's skills, professional knowledge and service standards to ensure a consistent "five-star" service quality between SM Taxi and SM Platform. This strategic milestone comes exactly one year after GSM was established, transforming it from a transport company to a technology company providing Vietnam's first comprehensive EV platform.

Qualcomm Vietnam Innovation Challenge finalists announced

The Qualcomm Vietnam Innovation Challenge 2024 - QVIC 2024 has announced the list of 10 qualifiers for the finals to be held in August 2024. The top three teams will receive a total of US$225,000 in cash prizes. Each team will be funded with a $10,000 package to develop their products for the final judging.

The 10 finalists include AirCity with its facial recognition device, DeltaX with its efficient and affordable robotic products, GoTrust-Medipay-Kiosk with its automated healthcare counter and HSPTech with its real-time electric shock absorbing tracker.

300 companies to take part in automotive exhibition

The 20th International Exhibition on Automobiles, Motorcycles, Electric Vehicles and Supporting Industries (Autotech & Accessories 2024) is expected to open in mid-May 2024 with the participation of 300 global companies. Held at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, the event is expected to attract 15,000 domestic and international visitors. Companies will bring complete-built vehicles, purpose-built vehicles, components, maintenance parts and traffic management systems to the exhibition.

South Korea grants green ODA to Vietnam

At a meeting with Minister of Natural Resources and Environment Dang Quoc Khanh on March 6, Korean Ambassador to Vietnam Choi Youngsam confirmed that  South Korea would provide green ODA funding to Vietnam through the Korea International Cooperation Agency (KOICA). Korea hopes to help Vietnam achieve its goals in energy transformation, environmental protection and climate change adaptation. The meeting also discussed Prime Minister Pham Minh Chinh's visit to Korea in the near future and Korea's support to Vietnam in the organization of the Partnering for Green Growth and the Global Goals 2025 (P4G).