Russia labels Vietnam a safe destination amid conflict with Ukraine
Russia’s tourism authority has recommended Vietnam as one of the safe travel destinations without any restrictions for Russian tourists amid the Russia-Ukraine crisis.
Other countries in the list of the Federal Agency for Tourism of Russia are Turkey, Egypt, Tunisia, UAE, China and India.
The recommendations were announced by the nation’s Ministry of Foreign Affairs on March 2 concerning locals travelling abroad as many countries are imposing sanctions and restrictions on Moscow following its military attack against Ukraine.
Russian authorities advise citizens not to go to countries that have imposed sanctions and restrictions on Russia, because of the risk of being difficult to return to their homeland in time and safely.
The agency also noted that a number of destinations, including several Latin American countries such as Cuba, the Dominican Republic, Mexico and Venezuela, are no longer available to Russian tourists due to EU and Canadian airspace restrictions.
Head of the agency said that he had held a meeting with Tunisia’s Minister of Tourism and his counterparts from Egypt and Turkey. All have assured that they want to cooperate and do not intend to impose any restrictions on Russian visitors, he added.
Vietnam has been calling for de-escalation, dialogue and peaceful resolution in the Ukraine-Russia conflict.
Russia contributed a significant part to the tourism market in Vietnam, and they were also among the first to be welcomed back to Vietnam under the pilot Covid-19 vaccine passport programme.
Coastal town Nha Trang in Khanh Hoa province is the most popular destination in Vietnam for Russian tourists. Pre-pandemic, Khanh Hoa annually received 500,000 Russian visitors, accounting for 70 percent of Russian arrivals in Vietnam. On average, a Russian stays for 10 days, with a high spending level, about $1,500.
Many tourism and hospitality companies in Vietnam are suffering a double blow: Covid-19 and the Russia-Ukraine conflict. While they pin their hope on coming robust business opportunities as the country plans to fully reopen international tourism activities from March 15 after over two years of pandemic-induced disruptions, the Russian-Ukraine crisis has rattled them.
- Read More
State utility EVN signs feasibility study contract for $2.1 bln LNG power plant
Power Project Management Board 2, under state utility Vietnam Electricity (EVN), has signed a consulting contract for the $2.1 billion Quang Trach II LNG-fired power plant's feasibility study report.
Energy - Mon, January 20, 2025 | 4:43 pm GMT+7
Vietnamese lender SeABank reports $239 mln profit in 2024
Vietnamese private creditor SeABank recorded VND6,039 billion ($238.5 million) in pre-tax profit in 2024, up 31% year-on-year.
Banking - Mon, January 20, 2025 | 4:07 pm GMT+7
Vietnam to add biomass power to DPPA: draft decree
Vietnam’s Ministry of Industry and Trade plans to add biomass power to the direct power purchase agreement (DPPA) mechanism, according to its draft decree to replace Decree 80/2024 on DPPA mechanism.
Energy - Mon, January 20, 2025 | 12:39 pm GMT+7
Dairy giant Vinamilk contributes $70 mln to shareholder Fraser and Neave's profit in fiscal year 2024
Vinamilk, one of the biggest dairy firms in Vietnam, contributed SGD95 million ($69.5 million) to the profit before interest and tax (PBIT) of shareholder Fraser and Neave (F&N) in fiscal year 2024 (October 2023-September 2024).
Companies - Mon, January 20, 2025 | 11:49 am GMT+7
Korean bank Shinhan, Vietnam insurer PJICO ink strategic cooperation deal
South Korea’s Shinhan Bank Vietnam Limited and Petrolimex Insurance Corporation (PJICO) have signed a strategic cooperation agreement to leverage the potential of both sides.
Banking - Mon, January 20, 2025 | 11:17 am GMT+7
Czech conglomerate PPF urged to expand operation in Vietnam after Home Credit Vietnam stake sale
The Czech Republic’s multinational conglomerate PPF Group should expand its operation in Vietnam after selling its entire stake in subsidiary Home Credit Vietnam to Thailand's Siam Commercial Bank (SCB), Prime Minister Pham Minh Chinh said in Praha on Sunday.
Finance - Mon, January 20, 2025 | 10:01 am GMT+7
Vietnam's fertilizer exports hit nearly $710 mln in 2024
Vietnam's fertilizer exports totaled approximately 1.73 million tons in 2024, generating nearly $710 million in revenue, with an average price of $411.1 per ton.
Economy - Mon, January 20, 2025 | 9:08 am GMT+7
Vietnam holds potential to become Czech carmaker Skoda's manufacturing hub in ASEAN: exec
Vietnam boasts great potential to become an auto export and manufacturing hub of the Czech Republic’s Skoda Auto in ASEAN and other markets, said its chairman Klaus Zellmer.
Industries - Sun, January 19, 2025 | 11:30 pm GMT+7
Vietnam PM calls on Czech giant Sev.en Global to expand investment into wind, solar power
The Czech Republic’s Sev.en Global Investments, given its strengths, should expand investment in Vietnam into areas like wind and solar power, culture and sports, and football, said Prime Minister Pham Minh Chinh.
Industries - Sun, January 19, 2025 | 10:59 pm GMT+7
Northern Vietnam port operator posts record revenue, profit in 2024
Hai Phong Port JSC, headquartered in the northern city of Hai Phong, reported total throughput of nearly 40 million tons in 2024, with revenue reaching nearly VND3 trillion ($118.44 million) and pre-tax profit estimated at VND1.16 trillion ($45.8 million).
Companies - Sun, January 19, 2025 | 4:07 pm GMT+7
Vietnam's new regulations in energy, mineral and construction sectors
The Vietnamese government recently introduced the amended PDP8 implementation plan, the tariff for rooftop solar energy in 2025, new rules on management of construction activities, and the new Law on Geology and Minerals. Vilaf law firm provides analyses on these newly-promulgated regulations.
Consulting - Sun, January 19, 2025 | 1:38 pm GMT+7
Indonesia prepared for impacts of US trade policies
Indonesian Minister of Trade Budi Santoso has affirmed his country's readiness to address potential impacts of a trade war between the U.S. and China when Donald Trump assumes the presidency.
Southeast Asia - Sun, January 19, 2025 | 12:34 pm GMT+7
Japan's Itochu acquires 20% stake in Thai non-life insurance company
Japanese trading firm Itochu is set to purchase a 20% stake in Thailand's non-life insurer Thaivivat Insurance, a deal that highlights the global investor’s interest in the Southeast Asian country’s growing insurance market.
Southeast Asia - Sun, January 19, 2025 | 12:29 pm GMT+7
Laos-based 600 MW Monsoon wind power to export energy to Vietnam soon
The 600 MW Monsoon wind power project in Laos is reaching final phases of construction and will soon export electricity to Vietnam, investor Monsoon Wind Power reported.
Energy - Sun, January 19, 2025 | 9:51 am GMT+7
Japan-invested port terminal operator in northern Vietnam achieves record throughput in 2024
Tan Cang Hai Phong International Container Terminal Company Limited (TC-HICT) has announced a record container handling volume of over 1.6 million TEUs in 2024, up 26% year-on-year.
Companies - Sun, January 19, 2025 | 8:00 am GMT+7
China's Exquisite Power launches $20 mln battery factory in Vietnam
China-invested Vietnam Exquisite Power Technology Company Limited launched its $20-million factory in Vietnam’s northern coastal city of Hai Phong on Friday.
Industries - Sat, January 18, 2025 | 10:46 pm GMT+7
- Opinion
-
Vietnam embraces new wave of investments: HSBC exec
-
Chinese e-commerce giant Temu's Vietnam entry: unfair competition or market economy norm?
-
Vietnam's economy: positive changes but concerns persist
-
Slow administrative procedures hinder Korean investments in Vietnam: KoCham chair
-
Abundant real estate opportunities surround HCMC
-
Vietnam needs to modify FDI incentives to stay competitive amid global minimum tax application: expert