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Vietnam news in brief - January 31
Read the Hanoi Times for more updates about the country.

Over 90% of tourism businesses expect strong revenue growth

 Hanoi has set a target of welcoming 26.5 million visitors by 2024.  Photo: Pham Hung/ The Hanoi Times

The latest survey by Vietnam Report, a business analysis company, found that over 90% of tourism and hospitality companies expect the highest revenue growth in 2024, and 85.7% of respondents expect growth in profitability and visitor numbers.

The easing of visa policies is expected to continue as a lever to boost tourism growth in Vietnam. Vietnam’s tourism industry is fully capable of achieving the target of welcoming 14-15 million visitors this year, the report said.

Agriculture Minister calls for more PPP participation

Minister of Agriculture and Rural Development Le Minh Hoan on January 30 urged local producers and government agencies to set up an "initiative network" to develop smart agriculture in Vietnam.

To establish the network, the minister called for joint efforts by authorities and businesses to better perform public-private partnership (PPP) projects to make Vietnam a sustainable, low-emission agricultural economy. According to the Minister, only 50 out of a total of 180 local businesses are connected to local farmers.

Ho Chi Minh City to pilot electric vehicles for tourists

Ho Chi Minh City will conduct a pilot program of four-wheel electric vehicles for tourists in the city, according to the latest decision approved by the Ho Chi Minh City People's Committee. The fleet will consist of 20 electric vehicles, each with a capacity of 5 to 41 passengers, and will operate from 6:00 am to 12:00 am every day. The pilot will run from the first quarter of 2024 to December 31, 2025 and will be conducted by Saigon Public Transport LLC.

Becamex posts highest profit in three years

The Investment and Industrial Development Corporation (Becamex) achieved an after-tax profit of more than US$941 million in 2023, the highest level since 2020. The company's total revenue in 2023 is about US$3.3 billion, an increase of nearly 25% from a year ago. Of that, revenue in the fourth quarter of 2023 was about US$2.1 billion, 5.8 times higher than in the same period of 2022, with 90% of revenue coming from business and real estate investments.

Danang inaugurates three roads

The Department of Infrastructure and Road Management of the Central City of Danang inaugurated on January 30 the DT.601 Road, the DH 2 Road (from Hoa Nhon Commune to Hoa Son Commune) and the Western Ring Road 2 (from Road No. 8 Hoa Khanh Industrial Park to Hai Van - Tuy Loan Bypass). These are important thoroughfares to upgrade the city's road network and connect it to other localities.

Digital transformation agency established in Ho Chi Minh City

The Ho Chi Minh City government launched its Digital Transformation Center on January 30, marking a turning point in the city's efforts to become a smart, digitalized metropolis.

The Department of Information and Communication is tasked with managing the center, which aims to boost the city's digital society, digital economy, and smart management for the benefit of people and businesses.

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