Thai stocks closed down 3.04 points.

Bangkok, SET closed today at 1,373.33 points, down 3.04 points (-0.22%), trading value 42,288.84 million baht.

Stock trading today The index fluctuates sideways. By making the lowest point of 1,372.86 points, making the highest point at 1,379.04 points. As for securities, changes today increased by 226 securities, decreased by 238 securities, and remained unchanged by 190 securities.

Source: BERNAMA News Agency

Vietnamese, Chinese, Lao localities promote tourism cooperation

Lao Cai: More than 150 representatives from domestic tourism businesses and firms from China’s Yunnan province and Laos’ Vientiane city have shared experience and proposed measures to boost cooperation at a conference held in Sa Pa resort town, the northern province of Lao Cai.

The April 27 tourism promotion conference aimed to connect businesses and discuss measures to develop tours and tourism routes that link Lao Cai provinve in general, Sa Pa in particular, with localities in the southwestern region of China and other tourist cities in Southeast Asian countries.

At the conference, delegations from Vientiane city, Yunnan province’s Private Enterprise Association, Kunming city, Pingbian district, Hekou district and the Lao Cai Provincial Tourism Association shared experiences, discussed difficulties, obstacles, and policies to develop tourism. They also established cooperative relationships, and proposed solutions to promote tourism development in the localities.

They agreed that in the coming time, loca
lities should pay due attention to supporting tourism businesses with mechanisms and policies so that tourism promotion will be more substantive and effective for a common and prosperous community.

In 2023, nearly 300,000 Chinese tourists entered Lao Cai via Lao Cai International Border Gate, accounting for 54% of the total number of international visitors to the province.

The number of Vietnamese tourists to Laos in 2023 rose 33%, making Vietnam the second largest foreign tourist source of Laos.

In the first quarter of 2024, about 800,000 Vietnamese tourists travelled to China via Lao Cai border gate and about 120,000 Chinese people entered Vietnam via the gate./.

Source: Vietnam News Agency

RoK burgeoning market for Vietnam’s agro-forestry-fisheries exports

Hanoi: Vietnam’s agro-forestry-fishery exports to the Republic of Korea (RoK) have surged thanks to the bilateral Free Trade Agreement (VKFTA), topping 2 billion USD annually during 2016 – 2023, and the Northeast Asian country is forecast to remain an attractive market in the coming time.

The RoK is currently the fourth largest market of Vietnamese agro-forestry-fisheries products.

Since the VKFTA took effect in late December 2015, aquatic exports to this market have grown considerably, by 35% to 787 million USD in 2023 from 585 million USD in 2015, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Phung Thi Kim Thu, a shrimp market expert at VASEP, said the RoK is the largest importer of squid and octopus from Vietnam, accounting for 37% of total shipments. Meanwhile, Vietnam ranks second among suppliers of these products for this market, following China.

Vietnam’s squid and octopus exports to the RoK are forecast to rise in the first quarter of 2024, she said, noting that
shrimp is also a key aquatic export to the market.

The RoK will remain a popular choice of many businesses given its close proximity to Vietnam and stable demand, especially as inflation in such major markets as the US and Europe slowed consumption. Sea freight costs to the US and Europe have soared, thus closer markets like the RoK prove more attractive for exporters, Thu went on.

The Foreign Trade Agency under the Ministry of Industry and Trade reported that in 2023, the RoK’s coffee import from Vietnam increased 17.9% in volume to 41,450 tonnes and 16.3% in value to 93.35 million USD compared to the previous year. The proportion of Vietnamese coffee in the RoK’s total imports rose to 21.52% in 2023 from 17.15% in 2022.

The Korean coffee market’s revenue is predicted to hit 2.2 billion USD this year, the agency said, considering this a chance for coffee producers around the world, including Vietnam, boost shipments to the RoK.

Meanwhile, the RoK was the third largest importer of Vietnamese rubber with 8
,200 tonnes worth 12.77 million USD in the first two months of 2024, up 61.7% in volume and 60.3% in value year on year, statistics show.

Last year, this market also ranked third among importers of Vietnamese fruits and vegetables with 226 million USD in value, rising 25% from 2022.

The Institute of Policy and Strategy for Agriculture and Rural Development (IPSARD) cited a report released in mid-February by the Korea Rural Economic Institute as saying that the RoK’s frozen fruit import volume stood at 64,000 tonnes in 2023, up 6% from 2022. The import is expected to increase further this year as the RoK reduces or exempts tariffs on foreign fruits to stabilise domestic prices.

However, imports into the RoK are also facing increasingly strict requirements in terms of quality, food safety, sanitary and phytosanitary measures. This is also a big reason why Vietnam’s agro-forestry-fisheries products have accounted for just 4% of the RoK’s total imports of these commodities in 2023.

Facing that fact, the Korea
International Cooperation Agency (KOICA) has pledged to assist Vietnam with agricultural development through many projects like improving value chains, enhancing connectivity, and bettering climate change response capacity to produce high-quality farm produce and meet demand from the RoK./.

Source: Vietnam News Agency

RoK shopping centre in Vietnam attracts 6 million visitors in six months

Seoul: Lotte Mall West Lake Hanoi, invested by the Republic of Korea (RoK)’s Lotte Group, welcomed 6 million visitors from its inauguration in September, 2023 to late March, the RoK’s Dong-a Ilbo newspaper reported.

This mega commercial complex took only 122 days to surpass the 100 billion KRW (72.5 million USD) mark in revenue.

Currently, an average of 30,000 people come to this shopping center every day on weekdays and more than 50,000 at weekends.

The inauguration of the Lotte Mall West Lake Hanoi, which brings together 233 famous foreign and Korean brands, has taken advantage of the influence of the “Korean wave” (Hanllyu) to quickly attract Vietnamese youth, thereby contributing to economic development and cultural exchanges between the two countries, the newspaper wrote.

Vietnam, as a potential consumer market, is increasingly attractive to international brands. Mordor Intelligence, a global market research company, predicts that Vietnam’s retail market will grow at an average annual rate of 12.1% s
tarting this year to reach about 435.6 billion USD by 2028.

The Lotte Group started constructing the 787-billion-KRW centre in 2018, with a purpose of establishing a Lotte Town in Vietnam, and providing Vietnamese citizens with a premier shopping destination and an unparalleled Asian shopping experience.

The Korean group began its supermarket business in Vietnam and Indonesia in 2008. To date, it has had 64 stores throughout Vietnam and Indonesia, and is planning to expand its system to Malaysia, Singapore and Cambodia./.

Source: Vietnam News Agency

Thai Binh province rolls out red carpet for Dutch businesses

Amsterdam: The northern province of Thai Binh always accompanies and creates the best conditions for enterprises, including those from the Netherlands to invest in and run long-term and effective business in the locality, Secretary of the provincial Party Committee Ngo Dong Hai has affirmed.

At an investment and trade promotion conference held by the province’s delegation in Leeuwawarden city, Friesland province on April 25, Hai highlighted that Thai Binh, boasting sound investment climate with various incentives, and favourable geographical localtion, has become a leading attractive destination for foreign investors in the north of Vietnam.

He expressed his hope that the conference would open up numerous cooperative opportunities between Thai Binh and the Netherlands in all areas, particularly clean water management, education, healthcare, clean energy, hi-tech agriculture, pharmaceuticals and biology, which align with the province’s demand and the European country’s strengths.

Briefing participants on th
e province’s strengths, potential and investment priorities, Vice Chairman of the provincial People’s Committee Lai Van Hoan stressed that Thai Binh hopes to welcome Dutch enterprises to study investment opportunities, and engage in development of the Thai Binh Economic Zone in the green, clean and sustainable direction.

At the event, Thai Binh leaders and Vietnamese Ambassador to the Netherlands Ngo Huong Nam witnessed the signing of a cooperative agreement between the province and the World Trade Centre Leeuwarden.

The conference was held as part of the working trip of the Thai Binh province delegation to the country from April 23 to 26.

The same day, the delegation made a courtesy call to the King’s Commissioner of Friesland Arno Brok, during which the two sides concurred to bolster cooperation and called for businesses to work together in various sectors in the coming time.

It had working sessions with Boskalis and Royal Van Oord, the two leading Dutch corporations dredging, sand exploitation and mari
time construction, and visited a wind farm of Pondera, a group specialising in offshore wind energy. The enterprises expressed their interest in the province’s investment projects, particularly its socio-economic master plan with the direction of expanding toward the sea.

The delegation also visited the Vietnamese Embassy in the Hague./.

Source: Vietnam News Agency

Two new sections on North-South expressway put into use

Ninh Thuan: Prime Minister Pham Minh Chinh on April 28 attended a hybrid ceremony in the south central province of Ninh Thuan to inaugurate the Cam Lam-Vinh Hao expressway and open the Dien Chau-Bai Vot expressway in the north central province of Nghe An to traffic.

They are the two components of the North-South Expressway project.

The 78.5km Cam Lam – Vinh Hao Expressway, running through the three coastal provinces of Khanh Hoa, Ninh Thuan, and Binh Thuan, was invested with over 8.92 trillion VND (nearly 352 million USD) in the form of public-private partnership (PPP) and has a designed maximum speed of 90km per hour. It shortens the travel time from Ho Chi Minh City, the country’s largest economic hub, to Nha Trang (Khanh Hoa) to about 5 hours by car, instead of 8 hours as before.

Meanwhile, the 50.5km Dien Chau-Bai Vot section runs through the two central provinces of Nghe An and Ha Tinh. The 11-trillion-VND expressway can shorten the travel time from Hanoi to Vinh city of Nghe An to just over 3 hours b
y car.

The two new roads help increase the total length of the currently operational expressway to 1,226 km out of the planned 2,064 km length of the North-South Expressway from Huu Nghi border gate in the northern province of Lang Son to Nam Can town in the southernmost province of Ca Mau.

Addressing the event, the Prime Minister emphasised that developing a synchronous and modern infrastructure system is one of three strategic breakthroughs, receiving special attention and direction from the Party and State.

In particular, the expressway system plays a very important role, especially in connecting and improving transportation capacity to serve production, business and daily life, thus helping attract investment, and boost socio-economic development, and ensure national defence and security for localities, regions and the whole country.

He requested the Ministry of Transport to preside over and coordinate with ministries, sectors and localities to guide the operation and exploitation of expressways to en
sure safety and efficiency.

On the same day, the Government leader visited Labour Hero Ho Thi Luom, born in 1932 in Phuoc My ward, Phan Rang – Thap Cham city – a resilient and creative person who helped the salt production team at the Vinh Ngoc Salt Factory (Nghe An) always exceed output and have the highest productivity in the salt industry./.

Source: Vietnam News Agency

PM directs Ninh Thuan to tap on strengths for sustainable development

Ninh Thuan: The south central province of Ninh Thuan must capitalise on its standout strengths, opportunities and competitive edge so as to develop comprehensively, rapidly and sustainably, Prime Minister Pham Minh Chinh said on April 28.

Attending a conference to announce the province’s master plan during the 2021-2030 period with a vision to 2050, and promote trade and investment, PM Chinh highlighted Ninh Thuan’s numerous strengths for development, including a uniform transport system, huge tourism potential with stunning beaches and intact Champa architectural relics, large fishing grounds and great potential for renewables.

He hailed the local party organisation, administration, people and enterprises’ efforts to carve out robust socio-economic achievements over the past time, with the GDP growth during 2010-2023 reaching 8.6% per year, higher than the country’s average, and local livelihoods improved, while pointing out several challenges facing the province such as extreme natural conditions, drought
, limited investment, infrastructure lacking connectivity, and human resources failing to meet requirements of the socio-economic developments.

The Government leader underscored the five breakthroughs for development as named in its master plan, which are renewable energy, tourism, processing, manufacturing, hi-tech agriculture and realty, requesting the province to mobilise and effectively use all legal resources to bolster traditional growth locomotives, create new ones, and enhance investment in human resources.

PM Chinh asked the province to carry out its master plan in line with the national, regional and sectorial planning, push ahead investment strategic in infrastructure to respond to climate change, and prioritise resources to harmoniously develop sea-based economy, urban economy, tourism economy and heritage economy in the green, digital and circular direction.

Along with bolstering economic cooperation with localities in the vicinity, Ninh Thuan must pay due attention to developing high-quality
human resources and giving priority to potential areas such as tourism and renewables, he said, asking the province to enhance capacity for climate change adaptation and environmental protection, improve investment climate, and make meticulous preparation for attracting large and potential investors.

‘Ninh Thuan should popularise its master plan to garner support from local people, enterprises and investors’, he stressed, instructing provinces, cities, ministries and sectors to assist Ninh Thuan to effectively implement its master plan.

Under the province’s master plan, Ninh Thuan will become an upper-middle income province in the country by 2030, and a locality with comprehensive, fast and sustainable development and diverse economy by 2050.

At the conference, Ninh Thuan province introduced its potential, strengths, incentives, and priorities for development to domestic and foreign investors, aiming to call for investment in 55 projects in the five priority domains of renewables, high-quality tourism, pro
cessing and manufacturing, smart agriculture and real estate.

On the occasion, the province also presented investment policy certificates and investment licences, and signed MoUs on developing 14 large projects worth more than 120 trillion VND (4.73 billion USD) with investors./.

Source: Vietnam News Agency