According to the Kien Giang Provincial Department of Tourism, there are currently four international air routes connecting Phu Quoc with Incheon of the Republic of Korea (two flights a day), Hong Kong (China - three flights per week), Kuala Lumpur of Malaysia (three flights per week, and Bangkok of Thailand (four flights per week).
In the near future several Korean airlines are expected to add flights to the island.
Korean Air has recently announced that it is poised to open a new route to Phu Quoc, with daily flights departing from Incheon airport in Seoul. According to the airlines, November is considered to be the best time to travel to the island when the dry season begins.
Two other Korean airlines - Jeju Air and Jin Air - also plan to begin operating flights to the southern island.
Jeju Air will operate the Seoul - Phu Quoc route with a frequency of seven flights per week from the end of October, whilst Jin Air is scheduled to run the route to Phu Quoc departing from Incheon airport in late December.
Korean media outlets explained that the Vietnamese island is now a destination of great interest for many foreign tourists. Statistics indicate that the number of passengers on flights between Vietnam and the RoK in the third quarter of the year doubled compared to the same period last year.
Moreover, due to having many flights running from the RoK to Nha Trang and Da Nang, some airlines have shifted their attention to Phu Quoc to exploit new destinations.
The southern island has also planned to welcome charter flights from Kazakhstan from October, and from Taiwan (China) this December.
Phu Quoc dubbed the ‘pearl island' is blessed with clear blue water beaches such as Bai Sao and Bai Dai, along with plenty of local specialties including seafood, pepper, and pearls, among others.
Last year it was selected as one of the 25 best islands in the world by readers of magazine Travel Leisure of the United States.
The largest Vietnamese island was also voted by readers of Condé Nast Traveler in sixth place in the top 10 resort islands in Asia for 2022.
Over the past nine months the island city has welcomed over 4.7 million visitors for sightseeing and leisure stay, up 15.5% annually. Of the figure the number of foreign arrivals nearly tripled to 470,538 compared to the same period last year.
IMF maintains forecast for Vietnam’s 2023 GDP growth at 4.7%
Experts from the International Monetary Fund (IMF) maintained their forecast for Vietnam’s GDP growth at 4.7% in 2023 but expressed their optimism about the medium-term prospects, with GDP growth predicted to reach 5.8% in 2024 and 6.9% in 2025, according to Vietnam News Agency.
At the launch of the IMF’s Regional Economic Outlook Update on October 18 in Singapore, the experts said that Vietnam's export-oriented economy is heavily impacted by falling external demand in 2023, but there is a solid foundation that supports Vietnam's economic growth as before the COVID-19 pandemic.
Shanaka Peiris, Division Chief of Regional Studies at the IMF’s Asia and Pacific Department (APD), said that there are many signs of Vietnam's recovery in the fourth quarter of 2023, but it is difficult for the country to achieve its growth target for this year.
|Experts from the International Monetary Fund (IMF) have maintained their forecast for
Vietnam’s GDP growth at 4.7% in 2023. (Photo: VNA)
Vietnam is facing difficulties in the export, real estate and financial sectors, but its economy is recovering, he said.
When reform measures are implemented, Vietnam will overcome "short-term headwinds" and will maintain growth momentum in the medium term, based on integration into value supply chains as well as foreign direct investment capital flow.
According to the IMF, economic growth in the Asia-Pacific region is likely to hit 4.6% in 2023, up from 3.9% in 2022, despite a challenging global environment.
The region will continue to be a bright spot compared to global growth which is expected to reach 3% this year. However, the region's growth is forecast to decrease to 4.2% in 2024 because growth momentum is slowing down.
IMF Director for Asia-Pacific Krishna Srinivasan said that the global economic outlook is driven by continued recovery in consumer momentum in the US, but faces pressure from the real estate crisis in China, tightening policy stances around the world, the impacts of the Russia-Ukraine conflict and increasing geo-economic fragmentation.
Although the global environment remains challenging, the Asia-Pacific region remains a bright spot, contributing about two-thirds of global growth, he said.
Quang Binh province licences 435 new firms, 25 new projects
The central province of Quang Binh’s Department of Planning and Investment has so far this year granted new registration certificates for the establishment of 435 enterprises, whose capital totals more than 5.24 trillion VND (213.26 million USD), the Vietnam News Agency reported.
The provincial authorities have also approved investment proposals for 25 new projects worth 9.9 trillion VND. They have also given the green light to capital adjustment proposals for 45 existing projects.
|Quang Binh province (Photo: baochinhphu.vn)
So far this year, the province has seen 288 firms suspending their operations, 32 voluntarily dissolving, and 185 resuming their operations. Many have opted to reduce their production and business activities, cut working hours, implement alternating work schedules, or reduce their workforce.
With a 116km-long coastline and forest coverage rate of 68%, Quang Binh boasts excellent conditions to become a major tourist destination of Vietnam and Southeast Asia. It is home to Phong Nha-Ke Bang National Park, which has been twice recognised as a World Natural Heritage Site, as well as a system of caves, including Son Doong - the largest cave in the world, along with various beautiful beaches, hot streams and world-class golf courses.
Japan pledges JPY18.9 billion in ODA to Vietnam in 2022-2023 fiscal year
Japan’s total official development assistance (ODA) commitment to Vietnam from April 2022 to March 2023 amounts to JPY18.9 billion (nearly VND31 trillion), excluding loans to the private sector, said Shimizu Akira, chief representative of the Vietnam Office under the Japan International Cooperation Agency (JICA), said Radio the Voice of Vietnam.
The JICA representative unveiled the amount at a press conference on Japanese ODA grants of the fiscal year 2023, which was held in Hanoi on October 18.
Specifically, the total value of ODA capital for technical cooperation projects and non-refundable aid projects in the country reached JPY4.7 billion and JPY0.7 billion, respectively, with more than 100 large and small projects being implemented, he added.
|Shimizu Akira, chief representative of JICA's Vietnam Office, addresses the press briefing in Hanoi on October 18 (Photo: VOV)
Regarding JICA Vietnam's activities in the fiscal year, Akira recalled the July 2023 signing of ODA loan agreements for three projects valued at more than JPY60 billion, focusing on improving urban public transport infrastructure, strengthening agricultural supply chains, and accelerating post-pandemic socio-economic development.
This was the first time that JICA had signed the most ODA loan agreements with Vietnam since 2017, said Akira, adding the metro line No. 1 in Ho Chi Minh City is expected to be put into operation from July 2024.
He revealed that JICA would continue to promote cooperation with Vietnam in a number of key areas such as high-quality infrastructure development, medical cooperation, climate change response and human resource development./.