Vietnam news in brief - November 16

Vietnam hosts conference in Las Vegas to lure investment

The Ministry of Finance of Vietnam hosted a financial conference in Las Vegas, US, on November 15 (local time), bringing together 50 major US companies and investment funds. The conference aimed to attract American investors to further develop Vietnamese equity markets. At the meeting, Minister of Finance Ho Duc Phoc said he is willing to listen to the suggestions of US investors.

The discussion at the conference focused on incentives for foreign investors to pour money into Vietnamese assets, and when and how Vietnam will be upgraded to emerging market status.

FPT Retail to become mobile virtual network operator next year

An FPT Shop, operated by FPT Retail in Ho Chi Minh City. Photo: frt.vn

FPT Retail plans to launch its virtual mobile network next year in cooperation with giant telecommunications group MobiFone, the company announced on November 15. FPT Retail obtained the license in June 2023. The move is part of a series of activities to complete the ecosystem of FPT Retail's parent company, IT group FPT.

FPT Retail plans to launch an internal network for its employees at the end of this month before rolling it out nationwide. Vietnam now has four virtual mobile network operators, namely iTel, Reddi, Local and VnSky.

Dong Thap to bring back red-crowned cranes from Thailand for repopulation

The southern province of Dong Thap is studying possible plans to get a pair of red-crowned cranes from Thailand to Tram Chi National Reserve in early December to help restore the species' population. The move is part of the province's plan to breed 100 cranes in the reserve over the next 10 years at a total cost of VND185 billion (US$7.6 million).

The 7,500-hectare Tram Chim National Reserve is Vietnam's fourth Ramsar site. It is home to many endangered species, including the red-crowned crane.

EU praises Vietnam for achievements in green transition

Bernd Lange, chairman of the European Parliament's Committee on International Trade, praised Vietnam's green transition efforts on November 15. Speaking at a meeting with Vietnam's National Assembly Deputy Chairman Tran Thanh Man in Brussels, he said that green transition is a mutual concern between the EU and Vietnam, and there is great room for further cooperation.

The EU official also said he plans to return to Vietnam in January 2024 to discuss solutions to boost trade and economic relations between the EU and Vietnam.

Mekong Connect 2023 forum discusses green economy

The 2023 Mekong Connect Forum opened on November 15 in Ho Chi Minh City to discuss solutions to strengthen supply and value chains between the city and 13 other provinces and cities in the Mekong Delta region. Now in its eighth year, the forum also aims to promote a green economy and sustainable development in the southern region.

The two-day event includes a keynote session, four seminars, and an exhibition showcasing regional specialties and outstanding agricultural products from nearly 100 enterprises.

Vietnam joins regional compulsory insurance scheme

Vietnam has completed joining the ASEAN Compulsory Motor Insurance (ACMI) system, according to the Vietnam National Agency for the Implementation of Protocol No. 5 on the ASEAN Compulsory Motor Insurance Program (VINABAI). 

The protocol shows that foreign vehicle owners must register with Vietnam's compulsory motor insurance platform when traveling through Vietnam.

Nguyen Anh Tuan, Chairman of VINABAI, said that the successful connection will improve the flow of traffic and goods through border gates among ASEAN countries.

Khanh Hoa, Ninh Thuan join forces to promote sustainable tourism

Khanh Hoa and Ninh Thuan, two provinces in the south-central region, signed an agreement on November 15 to promote the tourism sector in 2023-2025. Provincial officials expected the deal to create new products and services and improve the two provinces' competitiveness in the market.

Both provinces aim to make tourism their economic spearhead in the future, serving the sustainable socio-economic growth of local areas.