Focus: Off To A Good Start: The National Assembly Standing Committee reached a consensus to send the NA the draft of a resolution on piloting new policies for HCMC’s development at the fifth NA sitting that began on May 22, 2023. Apart from its endorsement of a new resolution as a replacement of Resolution 54 on a special mechanism for HCMC, the committee also suggested adding more policies with a view that HCMC needs more breakthrough policies to unleash resources and enable development so as to create positive growth effects on the region and the country as a whole.
Inside Vietnam
Recovery Unabated Amid Uncertainty: 2023 looks to be a challenging year for the global economy, with global growth decelerating owing to monetary tightening and the Russia-Ukraine military conflict continuing to weigh on activity. Persistent inflation pressures, and now financial sector problems in the U.S. and Europe, are injecting additional uncertainty into an already complex economic landscape.
Achilles Heel In Tourism: Vietnam’s tourism industry has made only meager strides in diversifying its products despite years of growth.
Bringing Back International Travelers: Vietnam needs an effective short-term marketing campaign to attract international tourists from key source markets, especially those with untapped potential.
Business
Bright Outlook Amid Monetary Easing: Monetary policy is gradually shifting from tightening to easing again. Following the two interest rate cuts in late March, the central bank has signaled another rate reduction is coming.
Biting The Bullet: Flagging demand has compelled manufacturers to reduce their production and workforce. Shoe manufacturer PouYuen, which makes sneakers for global brands like Nike and Adidas, is reportedly set to cut nearly 6,000 jobs in HCMC.
Living
Agritourism Seen From Mekong Delta Provinces: Despite the Mekong Delta being known as the country’s major rice-producing region, helping to ensure national food security and contributing crucially to agro-product exports, it is less developed than other parts of the country.
Colorful Paper Masks In Hoi An: In the central city of Hoi An is a house on Bach Dang Street that is home to hundreds of colorful paper masks made by artist Bui Quy Phong, who has devoted his whole life to these masks. He calls them the “timing masks”, explaining that when people look at the masks, they face a momentary lapse of time.
Travel
Pu Luong – A Hidden Gem Of Northwest Region: Nestled in the middle of mountains, Pu Luong Valley attracts tourists with its cool mountainous atmosphere, peaceful scenery and magnificent terraced fields.
The Most Addictive Dish On Ha Giang Plateau: Ha Giang attracts tourists not only for its majestic natural landscape and honest ethnic people but also for its bold, regional specialties that cannot be found anywhere else. Among them, sour pho (pho chua) is a unique dish that diners should try when visiting Ha Giang.
