HCM City: Tourism sector endures losses of over 426 mln USD in Q1
The HCM City Department of Tourism has estimated that the city’s tourism industry suffered losses worth close to 10 trillion VND (426.2 million USD) in the first quarter of this year due to impacts of the COVID-19 pandemic.
Bui Vien Street in Ho Chi Minh City, a location frequented by foreigners. (Photo: VNA)
Hanoi (VNA) – The HCM City Department of Tourism has estimated that the city’s tourism industry suffered losses worth close to 10 trillion VND (426.2 million USD) in the first quarter of this year due to impacts of the COVID-19 pandemic.
The department’s data shows that the country’s southern metropolis welcomed just 1.3 million visitors during the first three months of the year, down 42.26 percent from a year earlier.
In March alone, tourist arrivals nosedived 84.23 percent year-on-year to about 117,000.
The department plans to further strengthen preventive measures against the widely-spreading disease to ensure safety for travellers in the second quarter.
It is working with the municipal Department of Science and Technology to explore how to develop community-based tourism in urban cultural spaces in the near future.
It also expects to launch a series of tourism stimulus programmes after the pandemic is over to help the industry recover.
Last year, HCM City was the most popular locality in Vietnam among foreign tourists during the first quarter.
The city welcomed a record high 2.25 million foreign tourists from January to March, up 10 percent year-on-year. The city attracted half the total number of foreign arrivals to Vietnam during the period, according to the municipal Department of Tourism.
Japan, the Republic of Korea, China and the US were the four biggest groups of foreigners visiting HCM City, helping it earn tourism revenue of 39.8 trillion VND during the period./.
The consumer price index (CPI) of Ho Chi Minh City in March fell by 0.58 percent compared to the previous month, according to the municipal Statistics Office.
While Vietnam remains significantly exposed to the COVID-19 outbreak and the ongoing turbulence in the global financial markets, its economy stays resilient to external shocks in the first few months of 2020, according to the World Bank (WB).
The Ha Long Carnival and the 2020 Ha Long - Quang Ninh Tourism Week will take place on Vietnam’s National Day (September 2) holiday if the COVID-19 is brought under control, announced the Quang Ninh provincial People’s Committee.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.