Ban on trading gold through foreign accounts

Ban on trading gold through foreign accounts

QĐND – Friday, January 08, 2010, 19:0 (GMT+7)

All gold trading activities via foreign accounts had been banned with the exception of any further trades needed t pay off contracts and close the accounts, the State Bank of Vietnam announced on its website on January 7.

All foreign gold accounts must be terminated by March 30.

Last week, Prime Minister Nguyen Tan Dung ordered all gold trading floors to be banned as of March 31, 2010. The order requires that all gold trading floors and all domestic accounts for gold trading to be terminated by that date.

With the new regulations, the State Bank of Vietnam will oversee all trading of the precious metal.

Source: VNA

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HCM City welcomes first 360 foreign tourists in 2010

HCM City welcomes first 360 foreign tourists in 2010

QĐND – Sunday, January 03, 2010, 21:1 (GMT+7)

Ho Chi Minh City’s Department of Culture, Sports and Tourism organised a ceremony to receive the first 360 foreign tourists in 2010 at Tan Son Nhat international airport on January 1.

Among them, 180 foreigners on a flight of the national flag carrier Vietnam Airlines came from Frankfurt, Germany, and 180 others, mainly Europeans came to HCM City on Thai Airways.

The city’s leaders, department of culture, sports and tourism, tourism association and representatives of travel agents and hotels welcomed the foreigners warmly and hoped they would enjoy their new-year tour with unforgettable impressions of Vietnam.

An art performance was held to introduce to the first visitors to the city. In 2009, HCM City received 2.52 million foreign tourists and 8 million domestic visitors. Total revenue reached VND34,000 billion, increasing by 10 percent against 2008.

Source: CPV

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1.5 million foreign visitors to visit Hanoi in 2010

1.5 million foreign visitors to visit Hanoi in 2010

QĐND – Monday, January 04, 2010, 21:5 (GMT+7)

Hanoi is expected to welcome some 1.5 million foreign tourists in 2010, thanks to its organizations of the Thang Long-Hanoi 1,000^th anniversary and the National Tourism Year 2010, said Deputy Director of the Hanoi Culture, Sport and Tourism Department Truong Minh Tien.

Mr. Tien said that in the first 11 months of 2009, the number of foreign visitors to Hanoi reached more than 900,000 and the figure was nearly 1.05 million in the whole year of 2009, a decrease of 20% from the previous year. 

In 2009, the Hanoi’s tourism sector was impacted by the global economic slowdown, diseases, and natural disasters.

At present, the capital’s tourism sector is preparing a series of programs and plans for 2010 to tap opportunities from the Thang Long-Hanoi 1,000^th anniversary and the National Tourism Year 2010 and taking specific measures to improve the quality of tourist products and services.

Source: PANO/CPV

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Hanoi welcomes first 300 foreign tourists in 2010

Hanoi welcomes first 300 foreign tourists in 2010

QĐND – Saturday, January 02, 2010, 21:10 (GMT+7)

As of 6am on January 1, 2010, Hanoi received its first 300 European tourists from Paris, France on flight of the national flag carrier Vietnam Airlines.

A ceremony to welcome these guests was organised by Hanoi’s Department of Culture, Sports and Tourism in coordination with Vietnam Airlines, opening activities in response to the National Tourism Year 2010 in Hanoi.

Present at the ceremony were representatives of Hanoi’s leadership and the Vietnam National Administration of Tourism as well as leading travel agents.

The first visitor, Mr. Zamorano Denis, received a special present-a trans-Vietnam tour for 10 days 9 nights for two people, including expenses for domestic flights and services meeting the five-star standard.

To attract visitors, especially foreigners, to attend the ceremony for the 1,000^th anniversary of Thang Long-Hanoi, along with National Tourism Year 2010, Hanoi’s tourism industry is actively investing more in infrastructure development and tourism products, while building new tours to serve them, said Deputy Director of Hanoi’s Department of Culture, Sports and Tourism Mai Tien Dung.

Source: VOV

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Vietnam targets 4.5 million foreign arrivals in 2010

Vietnam targets 4.5 million foreign arrivals in 2010

QĐND – Wednesday, December 30, 2009, 21:43 (GMT+7)

The tourism sector sets a target of welcoming around 4.5 million foreign visitors in 2010, representing an increase of 20 percent over this year, said Nguyen Van Tuan, Head of the Vietnam National Administration of Tourism (VNAT).

To reach the target, Tuan said the VNAT will coordinate with relevant agencies to implement tourism promotion programmes, including a 25 billion VND (1.35 million USD) national action programme on tourism focusing on activities to develop tourism products and human resources and a national tourism promotion programme with an estimated investment of 25 billion VND.

Vietnam expects to receive about 400,000 foreign visitors in December, raising the total number of foreign arrivals to the country this year to 3.9 million, down over 10 percent compared to the previous year.

However, the number of domestic tourists is estimated to increase 19 percent to 25 million.

The country’s total tourism revenue in 2009 is expected to reach 68-70 trillion VND (about 3.7 billion USD), increasing 10 percent over last year.

Foreign arrivals to Ho Chi Minh City , the country’s largest economic hub, also fell 10 percent to over 2.5 million, equivalent to 84 percent of the city’s yearly plan.

The city strives to attract more than 3.5 million foreign visitors and 10 million domestic tourists in 2010.

Source: VNA

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Foreign companies provide relief for Vietnam typhoon victims

MasterCard Worldwide donated US$50,000 and medical company Fresenius Kabi Bidiphar gave essential medicines worth VND700 million (US$39,000) to Vietnamese victims of Typhoon Ketsana.

Typhoon Ketsana hit Vietnam’s central region at the end of September (Photo: SGGP)

Ajay Bhalla, executive vice president of MasterCard Worldwide for Southeast and South Asia, said the company deeply sympathized for the victims and wanted to contribute to relief efforts.

On behalf of the company, he also sent condolences to bereaved families and those that suffered losses.

The company made the donation through the Vietnam Red Cross Association.

The $50,000 is part of $200,000 it donated for victims in India, Indonesia, the Philippines, and Vietnam.

Germany-based Fresenius Kabi Bidiphar, a leader in infusion therapy and the manufacture of intravenous fluids, handed over the medicines to authorities in central provinces.

At the handover ceremony, Truong Xuan Huong, deputy chief of the Health Ministry Office and deputy head of the ministry’s committee for disaster prevention and search and rescue, appreciated FKB’s gesture.

Related articles:
Number of Vietnamese killed by Typhoon Ketsana rises to 162
Central region begins recovery after Typhoon Ketsana

Source: SGGP Bookmark & Share

228,000 foreign tourists visit Vietnam in October

228,000 foreign tourists visit Vietnam in October

QĐND – Monday, November 02, 2009, 20:24 (GMT+7)

228,000 foreign tourists visited Vietnam last month, down 25.1 percent against the previous month, according to the National Administration of Tourism. 

Tourists sharply decreased from the main markets, by 24.2% from the Republic of Korea, by 26.3% from China and by 18.8% from Thailand.

The country welcomed 3 million of foreign tourists in the first nine months of this year, a drop of 16 percent compared to the same period last year

With the 3^rd Asian Indoor Games taking place in Vietnam, the tourism industry is expecting to reach its set goal of attracting 3.7-3.8 million foreign tourists by the end of this year.

Source: VOV

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Foreign arrivals down 25 percent in October

Foreign arrivals down 25 percent in October

QĐND – Saturday, October 31, 2009, 20:30 (GMT+7)

The number of international visitors to Vietnam in October reached some 228,000, down 25 percent from last month, said the General Statistics Office (GSO).

Specifically, those coming to Vietnam by air and sea dropped against the same period last year to 158,000 and 3,000, respectively. Only those traveling by land rose, by 72.2 percent.

More than three million international visitors arrived in Vietnam in the past ten months, a decline of 16.3 percent from the same period last year. The biggest decrease was seen in the visitors coming from the Republic of Korea (over 24 percent), followed by China, Thailand and Taiwan.

The drops were attributable to the global economic crisis and the impact of the A/H1N1 flu.

The Vietnam National Administration of Tourism says that the target of receiving 3.7-3.8 million foreign tourists this year can be achieved with a policy of exempting tourists to Vietnam from entry visa charges through the end of the year, and the third Asian Indoor Games being held for the first time in Vietnam.

The agency has taken various stimulus measures and launched tourism promotions inside the country and abroad to attract more tourists as well as investment in the tourism sector.

The tourism sector has proposed that foreign embassies in the country help promote Vietnam’s National Tourism Year through their information networks, and that members of the Asian Network of Major Cities 21 and the Council for the Promotion of Tourism in Asia (CPTA) advertise the year of Vietnam Tourism in major Asian cities.

Source: VOV

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Foreign investors still have good opportunities in Vietnam

Foreign investors still have good opportunities in Vietnam

QĐND – Saturday, October 31, 2009, 20:30 (GMT+7)

“How to attract more foreign investors” was the question raised at the recent annual investor conference of VinaCapital, a leading asset management, investment banking and real estate consulting firm in Vietnam.  

Investment attraction

On addressing the meeting, VinaCapital chairman Horst F.Geicke said that because of the government’s tight monetary policy and the adverse impact of the global economic crisis, liquidity of Vietnamese stock market fell sharply in early 2008.

Horst F.Geicke, however, confirmed that Vietnam has proved its potential by emerging well from the crisis to maintain a growth rate of five percent in 2009.

The company’s chairman also said the rapid recovery of both trading floors (Hanoi and Ho Chi Minh City) this year is a solid foundation for increasing investments in other sectors.

Vietnam’s stock market has experienced a significant rise of 80 percent by far this year. However, not many foreign investors are interested in the market and, as Mr. Geicke put it, this is attributed to the negative impact of the economic crisis. Another reason is that investors tend to draw comparisons markets before deciding to invest their money.

As a result, stocks of funds managed by VinaCapital as well as other funds are being transacted at a price lower than their real value. VinaCapital’s total asset value dropped to US$1.8 billion in October 2009 from US$2.2 billion in late 2007.

In the meanwhile, although the rate of FDI disbursement has been maintained at a high level, the number of new investors in Vietnam is not significant and FDI commitments have fallen by 80 percent compared to last year.

The company’s CEO Don Lam said there are good reasons to believe that Vietnam will be an “attractive investment destination” among the leading newly-emerging markets. Firstly, the Government has effectively weathered the economic crisis. Secondly, the stimulus package has helped the economy to recover. Finally, the temporary fall in the flow of FDI will not have long-term effect.

A new trend for investments in 2010

VinaCapital specialists said that the “hot spots” for investment inflows next year will be health services, consumer products, financial services, the energy industry, the high technology industry, retail malls and up market residential projects.

Don Lam said short-term speculation on the stock market and investment in high-class residential projects and office buildings will decrease in 2010.

VinaCapital is said to be launching an unlisted estate investment fund in 2010. The company believes it is a new trend that could attract organised investors who do not invest in listed funds.

Source: VOV

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Foreign relations sector to promote IT application

Foreign relations sector to promote IT application

QĐND – Friday, October 30, 2009, 20:48 (GMT+7)

“Digital diplomacy remains a new concept in Vietnam. However, the Foreign Affairs Sector in the forthcoming time will strengthen application of digital technology into its operation”, said Nguyen Phuong Nga, head of the Foreign Affairs Ministry’s Press Department, at a workshop on digital diplomacy in Hanoi on October 28^th.

The seminar was held by the United Kingdom Embassy in Vietnam with an aim of exchanging experience on digital foreign relations.

“The British Foreign Affairs Ministry is one of the agencies that took the initiative in applying digital technology in foreign relations. Digital diplomacy might be a new concept in Vietnam, however I believe that the situation will be changed soon”, said British Ambassador in Vietnam Mark Kent.

Source: thesaigontimes

Translated by Vu Hung

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