Economy

Deputy Prime Minister Nguyen Xuan Phuc has urged Phu Quoc island district in southern Kien Giang province to bring into play its advantages and potential to develop the maritime economy and tourism. The Deputy PM made the call when he announced the Prime Minister’s decision recognising Phu Quoc as a second-tier city at a November 15 ceremony in the island district. He said the local authorities to pay attention to building a green-clean-beautiful-friendly city while preserving the natural environment to keep the reputation as the Pearl Island. Vietnam’s rating system classifies cities into tiers based on political, economic and demographic factors representing their current stage of development. The island’s promotion follows its recent transport and tourism infrastructure development. The local government has made strides in urban planning, consolidating more than 70 percent of urban housing, and constructing a 60.72km transport network. An international airport … [Read more...] about Phu Quoc asked to further develop maritime economy, tourism

The Hanoitimes - A ceremony has highlighted the tourism sector’s remarkable contributions to national development since the industry was established in Vietnam 55 years ago (July 9, 1960). Addressing the celebratory function in Hanoi on July 8, Minister of Culture, Sports and Tourism Hoang Tuan Anh said tourism has become a driving force for many other economic sectors, noting the growing tourist number and increasing tourism revenue are fostering the national gross domestic product. Tourism is also a major job generator with about 700,000 people and 1.5 million others working indirectly in 2014, accounting for 4 percent of the total workforce, he added. Foreign tourists visit Hanoi Deputy Prime Minister Vu Duc Dam lauded the sector’s efforts to develop over the past 55 years while pointing out shortcomings compared to regional countries. He asked for stronger determination and creativity by every relevant agency, travel company and person to make breakthroughs in … [Read more...] about Tourism industry proud of 55-year contributions to economy

Marine Economy to Attract Investment Kien Giang possesses many advantages for the development of marine economy. In the 2011-2015 period, the provincial marine economy was estimated to grow 11.14 percent; contributing 75 percent to the local GDP. Total investment development for marine economy in 2011-2015 was VND110 trillion, accounting for 80 percent of the total investment capital of the province. Performing "Vietnam Marine Strategy 2020", in the period from 2011 to 2015, Kien Giang has attracted 300 investment projects in coastal regions and islands, scale of 10,244.83ha with total registered capital of over VND138,189 billion. In which, there are 98 projects in operation, a number of major projects are being invested such as Vinpearl Eco-tourism site, Trung Son Seafood Processing Factory, and AOKI Seafood Processing Plant. So far, Kien Giang has attracted nearly 600 projects with a scale of 28,192ha and registered capital over VND237,775 billion. Many projects have been … [Read more...] about Marine Economy to Attract Investment

(VOVworld) – With more than 5,000 historical relics, close to 1,300 traditional craft villages, and a great number of intangible cultural heritages, Hanoi is an attractive destination for tourists. The municipal tourism sector is looking to regional links to improve efficiency. In the first quarter of this year, Hanoi received more than 700,000 foreign visitors, up 15%, and nearly 4.9 million domestic tourists, up 8% compared to last year, thanks to the city’s effort to promote the environment and boost cooperation among companies. Luu Duc Ke, Director of Hanoi Travel Agent, says Hanoi’s current policy has changed the tourism economy. He says: “Although other economic sectors are facing difficulties, the hospitality industry has maintained its growth, thanks to travel agents’ efforts. This is an opportunity for the government to confirm its support for the sector’s development.” Recently, Hanoi has diversified its products to lure … [Read more...] about Hanoi boosts links for tourism economy development

HA NOI (VNS)— Viet Nam is urgently seeking ways of sustaining its marine economy as climate change warms and raises sea levels - and, together with massive pollution, continues to destroy the nation's 110,000 hectares of coral reefs. The marine economy now contributes about 48 per cent of the nation's Gross Domestic Product (GDP) and there are plans to raise this to 53-55 per cent by 2020. It includes industries related to trade and investment in seafood products, ship and boat building, water transport and tourism. Climate change, overfishing and pollution is blamed for a reduction in fish species and their retreat to deeper-sea regions, said the president of the Viet Nam Institute of Meteorology, Hydrology and Environment, Tran Thuc. And, he added, there appeared to be a connection between a decrease in the income of local fishermen and the more frequent appearance of tropical storms caused by the changes. Thuc said coral reefs had been rapidly dying for 20 years, largely … [Read more...] about Plan to sustain marine economy amid rising sea levels, pollution