Cold Spell Sweeps Through Northeastern and North-central Regions of Vietnam Today (Apr. 8)

The northern province of Ninh Binh is named among top 23 best places to visit this year by Forbes

Forbes names Ninh Binh among top 23 best places to visit this year

The northern Vietnamese province of Ninh Binh has been named by Forbes magazine as one of the top 23 best places to travel in 2021. With its stunning landscapes, ancient temples, and diverse wildlife, Ninh Binh is a must-visit destination for anyone looking for an unforgettable getaway. From exploring the ancient temples of Tam Coc to navigating the winding canals of Trang An, this beautiful province is sure to captivate and enchant visitors with its unique and breathtaking beauty. Whether you’re looking for a relaxing retreat or an adventure-filled holiday, Ninh Binh promises to offer something for everyone. So make sure to add it to your list of places to visit this year!

The magazine quoted Catarina Mello, an award-winning luxury travel content creator, photographer, entrepreneur, and online educator, as saying that Ninh Binh, where Hollywood movie ‘Kong: Skull Island’ was filmed in 2016, is one of the most underrated destinations in Asia. In fact, this northern locality is often regarded as one of the most gorgeous hidden gems throughout the entire Asian continent. With its stunning scenery, unique culture, and incredible cuisine, Ninh Binh is well worth a visit for any traveler looking to explore a lesser-known part of the world.

It’s no secret that northern Vietnam is quickly gaining traction on social media platforms, so it won’t remain a hidden gem for long. Forbes recommends visiting the area while it still provides an authentic experience. ”Don’t miss out on the opportunity to explore the unique culture and breathtaking landscapes of northern Vietnam,” they said.

Forbes recommends that tourists visiting Ninh Binh experience its stunning natural landscapes and savor the local cuisine. From exploring the winding waterways of Tam Coc and Hoa Lu, to taking in the stunning views of the Trang An complex, there are plenty of sights to see. Don’t forget to taste the local specialties such as goat hot pot and Ninh Binh chicken. With so much to do, Ninh Binh is the perfect destination for a memorable holiday.

The iconic dishes of the region include a succulent goat soup, a delectable grilled goat meat seasoned with five spices, and a savory steamed goat meat with ginger.

Forbes also recommended that tourists rent a bike to travel through the picturesque rice fields or take a hike through the stunning limestone mountains for some truly incredible views.

Other Asian destinations featured on the list include Kuala Lumpur, Hong Kong (China), and Rajasthan in India.

In the first quarter of the year, Ninh Binh saw a significant increase in tourist arrivals, totaling 3.2 million – a staggering 4.8-fold year-on-year rise. Additionally, around 126,000 of the visitors were international travelers.

Cold spell hit northeastern, north-central regions

A cold spell has swept across northeastern and some north-central provinces since the morning of April 7th, bringing temperatures down to a range of 18-21° Celsius, according to the National Centre for Hydro-Meteorological Forecasting.

Some northern mountainous areas may experience temperatures as low as 17° Celsius over the weekend.

From April 8 to 9, the northern region is predicted to experience periods of rain, scattered showers, and thunderstorms, according to the Vietnam News Agency (VNA).

Scattered showers are expected to appear in north-central provinces from April 7 to 9. (Photo: hanoimoi.com.vn)

From April 7 to 9, the north-central provinces from Thanh Hoa to Thua Thien–Hue are predicted to experience scattered showers, thunderstorms, moderate to heavy rains, and strong winds.

Thunderstorms accompanied by whirlwinds, lightning, hail, and strong winds can cause devastating damage to agricultural production, trees, houses, traffic works, and infrastructure, warns the Centre.

FTAs and trade promotion key to boosting exports

Taking full advantage of Vietnam’s numerous free trade agreements (FTAs) and implementing measures to promote trade are essential for increasing the country’s exports in the future, according to the Ministry of Industry and Trade (MoIT).

According to the Ministry, the export of Southeast Asian economies picked up in March, reaching US$29.57 billion, a 13.5% increase from February. This marked a total export drop of 14.8% compared to the same period of last year.

Domestic firms were most severely affected, with a drop of 17.4% compared to foreign firms, who also experienced a decrease of 10%.

The Ministry stated that the situation is unlikely to improve in the near future given the slowdown in global demand for goods, particularly in major markets such as the European Union and the United States. Moreover, competition has intensified since the reopening of the Chinese market.

Vietnam’s agriculture and aquaculture exports for the first quarter of 2023 are projected to reach US$6.86 billion, representing a 7.5% decrease from the same period in the previous year. This decline is largely due to the impact of the ongoing COVID-19 pandemic, which has caused disruption to global trade and supply chains. Nevertheless, the industry remains optimistic that exports will begin to recover as the pandemic subsides and global demand rises.

Workers during a shift at a textile company in the northern province of Hung Yen. Photo: VNS

Seafood companies have expressed worries about the lack of orders they are receiving, which is a stark contrast to the usual demand for this season.

“The seafood industry has been severely impacted by decreased demand and the appreciation of the dong compared to the US dollar,” said a representative from the seafood industry.

To Tuong Lan, Deputy Director-General of the Vietnam Association of Seafood Exporters and Producers (VASEP), revealed that orders from all markets have experienced a significant decline during the first three months of the year.

A global credit crunch is hindering retailers from stocking up, resulting in fewer orders this year, according to VOV. Increased competition is also adding to the challenge. This has caused a decrease in orders and has presented a difficult situation for businesses. Consumers are tightening their belts, and businesses are feeling the pinch. To stay afloat, retailers must take measures to reduce costs and become more competitive.

Industrial sectors reported a lower export value of US$67.5 billion in the last three months, a 13.1% decrease compared to the same period last year. Moreover, mineral exports declined by 3.1% in the same time frame.

On the other hand, Vietnamese rice has experienced a surge in both export quality and prices. In the first quarter of 2023, the country exported nearly 70% more rice than in the same period of the previous year. This is a testament to the country’s remarkable progress in the industry.

The United States remained Vietnam’s largest buyer of goods, with a total value of imports amounting to US$20.57 billion.

Do Ngoc Hung, Vietnam’s trade representative in the United States, declared that trade between the two countries is likely to remain strong in the foreseeable future. The nations are seeking to introduce new products and services, reduce trade barriers, and collaborate on product safety and standards. This will ensure that the positive trend of growth in the bilateral trade relationship continues.

Hưng stated that his office has been organizing regular working sessions to facilitate connections between Vietnamese and U.S. businesses, while also keeping Vietnamese exporters informed of the United States’ trade policies.

During the first quarter of 2023, Vietnam imported a total of US$75.1 billion in goods and services, representing a year-on-year decrease of 14.7%.

The country maintained a trade surplus of US$650 million in March, bringing the first quarter’s trade surplus to US$4.07 billion, a marked improvement over the same figure last year at US$1.87 billion.

The Ministry stated that Vietnamese seafood and textile products may face increased competition in many of their major markets, due to the fact that strong competitors, such as Bangladesh, Cambodia, El Salvador, India, and Indonesia, have signed Free Trade Agreements (FTAs) with those markets.

The Ministry urged businesses to take greater strides to meet customer demand in international markets, launch supplemental promotional campaigns, and enhance product safety and quality.

Ho Chi Minh City Tourism Fair promotes products, services

The 19th Ho Chi Minh City Tourism Fair began on April 6th, offering a range of tourism, sports, and music activities for both domestic and international tourists to enjoy. From exciting performances to captivating exhibitions, there is something for everyone to enjoy at this spectacular event. Attendees can explore different cultures, discover hidden gems, and indulge in unforgettable experiences. With so many attractions, this is the perfect opportunity to explore the beauty of Ho Chi Minh City and its vibrant culture. Don’t miss out on this remarkable event!

The fair themed “Center of Intersection – A Lively Journey” consists of over 100 booths exhibiting a variety of tourist products and services from both localities across the country and travel companies in Ho Chi Minh City. Attendees can explore and experience the culture, cuisine, and attractions of each locality, as well as learn about the latest travel packages offered by the travel firms. There will be fun activities and events to participate in, making it a unique and enjoyable journey for all.

Ho Chi Minh City Tourism Fair opens on April 6. (Photo: Baovanhoa.vn)

The exhibition and art spaces offer visitors a plethora of art performances and folk games to explore and enjoy, such as painting on pebbles, bags, and papers, as well as engaging in rice painting and walking on stilts. These activities provide an unparalleled opportunity to engage with the vibrant culture and traditions of the region.

A food corner is serving festival-goers signature dishes from localities across the country, VOV reported. This exciting array of delicacies offers a unique opportunity for visitors to sample traditional flavors from around the nation.

During the four-day fair, a comprehensive workshop will be organised to enhance tourism interconnectivity between the southern and northwestern regions.

At the opening ceremony, the organizing board unveiled an impressive work of art themed “Map of Vietnam” made from more than 100,000 toothpicks. The impressive 1.8m x 2.8m piece was carefully crafted by around 10,000 people.

Vietnam needs to diversify markets to boost exports: ADB Country Director

In the face of an unpredictable global economy, the Asian Development Bank (ADB) has suggested that Vietnam diversify its markets in order to bolster exports for 2023 and the years beyond. By doing so, the country will be better equipped to withstand any economic shocks and maintain a steady flow of revenue. Additionally, it can help to create economic stability by reducing reliance on a single market or region, as well as diversifying sources of income. With a wider range of customers, Vietnam can also benefit from increased competition, leading to higher quality goods and services and a better chance of success. Ultimately, by diversifying its markets, Vietnam can ensure a more robust and sustainable economy in the future.

In a recent interview with VGP, Andrew Jeffries, the Country Director for Vietnam of the Asian Development Bank (ADB), expressed his concern over the headwinds Vietnam’s exports were facing due to the global economic slowdown. He pointed out that there were many external factors impacting Vietnam that were beyond its control.

Besides promoting exports to China and the U.S., Vietnam’s top two trading partners, the nation should consider expanding its export markets to ASEAN, which is the country’s fourth largest trading partner. Moreover, the nation should also explore opportunities with other countries such as Canada, Australia, and New Zealand, he recommended. This could prove to be beneficial in diversifying Vietnam’s export markets and increasing the nation’s economic growth.

In the long run, Vietnam should strive to boost productivity, move up the value chain, and bolster the capacity of its export-oriented businesses and manufacturing units. By doing so, the country can ensure sustainable, steady growth for years to come. To achieve these goals, Vietnam must focus on developing new technologies, improving infrastructure and boosting access to credit, as well as implementing other measures to facilitate economic growth. Additionally, the country must invest in education and workforce training, to create a more skilled and competitive labor force. With the right strategies in place, Vietnam can become an economic powerhouse in the region.

Vietnam’s GDP growth target for 2023 is achievable

Vietnam’s Gross Domestic Product (GDP) growth rate reached 8.02 percent in 2022, setting a record high for the 2011-2022 period. This is a clear sign that the economy is making a strong recovery, according to the Asian Development Bank (ADB) Country Director.

However, the nation faced some headwinds from the global economy in the fourth quarter of 2022, which have picked up pace this year. As a result, the below-target growth of 3.32 percent for the first quarter of this year is primarily attributed to the global economic downturn.

In addition to external factors such as ongoing geopolitical tensions, supply chain disruptions, and commodity market pressures, domestic capital and corporate bond markets may experience some turbulence, which could be a drag on growth this year.

Andrew Jeffries expressed his optimism that Vietnam’s economy will be bolstered in the second half of this year due to the Government’s implementations of a more lenient monetary policy, as well as its efforts to regulate growth and ensure financial market stability.

Furthermore, Vietnam has set very ambitious targets for public spending, which is essential for the industrial sector, as construction experienced a slight decrease in the first quarter. The service industry has shown significant growth this year and contributed 3.5 percentage points to GDP growth.

Vietnam’s economy in 2023 is expected to benefit from a number of factors, such as a surge in tourism and the reopening of the Republic of China, which could prove to be a boon for tourism and trade, according to VGP.

ADB Country Director for Viet Nam Andrew Jeffries. Photo: VGP/Quang Thuong

Thus, the Asian Development Bank (ADB) Country Director expressed his conviction that Vietnam’s GDP growth target of 6.5% for 2023 is attainable.

ADB Country Director for Vietnam, Andrew Jeffries, recently discussed the economic forecast for Vietnam in 2023. According to Jeffries, Vietnam’s economy is expected to grow at a steady rate and become increasingly competitive in the global market. He noted that the country has a number of factors that will drive growth, including strong government policies, a young labor force, and a rapidly expanding middle class.

Jeffries stated that Vietnam is well-positioned to become a leader in Southeast Asia. He noted that the country has a well-diversified economy, with an increasing focus on high-value sectors such as manufacturing, technology, and tourism. He also highlighted the country’s strategic location, which will give it access to markets in China, India, and beyond.

Jeffries expressed confidence that Vietnam’s economy will continue to expand over the next few years. He predicted that the nation will see strong economic growth, with GDP growth continuing to outpace the regional average. He further predicted that the country will become increasingly attractive to foreign investors, with an influx of capital helping to create jobs and spur innovation.

Overall, Jeffries is optimistic about Vietnam’s economic prospects for the future. He believes that the country is on track to become a major player in the region and that its economic growth will be sustained over the long term. He concluded by stressing the need for continued government support and investment in order to ensure that Vietnam’s economic development remains on track.

Vietnam-attractive investment destination for foreign investors

According to Andrew Jeffries, Vietnam has been an attractive investment destination for foreign investors due to its dynamic economy, burgeoning middle class, increased purchasing power, and a plethora of new-generation free trade agreements with many nations. Additionally, the country’s favorable business climate has further encouraged investors to capitalize on its potential.

There has been a notable slump in foreign direct investment (FDI) attraction during the first quarter of the year; however, it is not a cause for major concern, as the decline is not consistent.

The largest ever American business delegation traveled to Vietnam last month, displaying great interest in investing more FDI into the country and allocating funds towards clean energy initiatives in accordance with Vietnam’s commitment to achieving net-zero emissions.

Not only Asian countries, but many other countries around the world are also experiencing an upswing in their business environment. As such, Vietnam must also strive to improve its own business environment. To do so, it is essential to propose investment policies that are conducive, transparent, and predictable; maintain macroeconomic and political stability; and continue to upgrade infrastructure.

FDI investors require a thriving intermodal transportation infrastructure, digitalization of customs services, and access to clean energy, according to the ADB Country Director. He also advised Vietnam to take their own net-zero commitment into account when considering these factors.

The country requires immense investments in energy infrastructure to keep up with its rapidly increasing demand for energy and electricity. With its population and economy growing at an unprecedented rate, it is essential that the nation invests heavily in energy solutions to ensure that its citizens are supplied with the electricity they need. By doing so, the country can ensure that its citizens have access to a reliable and sustainable energy supply.

For fostering the development of a green economy and clean energy, Vietnam should consider implementing new technologies and addressing a distinct set of technical challenges. This is essential for the nation to progress towards a more sustainable and eco-friendly future. Doing so will help to reduce emissions, conserve natural resources, and enhance the quality of life of the citizens. New technologies can be used to increase efficiency, reduce waste, and optimize renewable energy sources. Additionally, Vietnam should strive to create a favorable environment for businesses to invest in green initiatives. This includes providing incentives, such as tax breaks and subsidies, to encourage businesses to make the shift to green energy. Furthermore, the country should focus on developing research and development (R&D) capabilities in order to facilitate the development of new technologies and innovations. Finally, it is important for Vietnam to create public awareness about the importance of green economy and clean energy and to ensure that the population has access to the resources they need to make informed decisions.

For fostering the development of a green economy and clean energy, Vietnam should consider implementing new technologies and addressing a distinct set of technical challenges. This is essential for the nation to progress towards a more sustainable and eco-friendly future. Doing so will help to reduce emissions, conserve natural resources, and enhance the quality of life of the citizens. New technologies can be used to increase efficiency, reduce waste, and optimize renewable energy sources. Additionally, Vietnam should strive to create a favorable environment for businesses to invest in green initiatives. This includes providing incentives, such as tax breaks and subsidies, to encourage businesses to make the shift to green energy. Furthermore, the country should focus on developing research and development (R&D) capabilities in order to facilitate the development of new technologies and innovations. Finally, it is important for Vietnam to create public awareness about the importance of green economy and clean energy and to ensure that the population has access to the resources they need to make informed decisions.

Over the last three decades, Vietnam has seen remarkable progress in its infrastructure development and electricity access. In fact, the nation now boasts near-universal access to electricity, with almost 100% of its population enjoying reliable power.

In the near-term, it is imperative that Vietnam invests in and upgrades its transmission system to enable a rapid influx of clean and renewable energy sources, according to Andrew Jeffries.