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| Delegates launch the official opening of the Ban Gioc (Vietnam) - Detian (China) Waterfalls landscape site. (Photo: VNA) |
In the spirit of jointly protecting and exploiting tourism resources, and developing the site into a distinctive tourist destination, in line with the agreement on cooperation to protect and exploit the tourism resources of Ban Gioc – Detian Waterfalls, Vice Chairman of the Cao Bang provincial People's Committee Trinh Truong Huy emphasised that both sides should further strengthen their exchange and coordination efforts in protecting the tourism resources, and preserving natural resources and cultural values in this landscape site.
He also stressed the need to work together to ensure security and safety for tourists, and actively study and cooperate in building unique border projects that reflect the friendship between the two Parties, two States, and people of Vietnam and China to attract more visitors.
It is necessary to enhance coordination in border management and protection, facilitate each other in the construction of border projects based on the signed agreements on border management, regularly share information regarding the operation of the site, and work together to address any arising situations, Huy added.
Vice Chairman of the People's Government of China’s Guangxi Zhuang Autonomous Region Hu Fan highlighted the need for both sides to continue building a model for tourism cooperation.
Guangxi is ready to collaborate with Cao Bang to further improve infrastructure of the Ban Gioc – Detian Waterfalls landscape site and enrich tourism products and forms. In addition, both sides should work together to promote border tourism cooperation, enhance exchanges at all levels, and develop cross-border and high-quality tourism, Hu said.
The pilot operation of the landscape site from September 15, 2023 to September 15, 2024 has yielded positive results, as it welcomed over 13,000 visitors, while security and order were ensured.
Viettel officially launches 5G network
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| The launch of the 5G network of Viettel on October 15 (Photo: VNA) |
The Viettel Military Industry and Telecoms Group officially launched the 5G network on October 15, becoming the first to officially provide this service in Vietnam, reported Vietnam News Agency.
In April 2024, Viettel was licensed to use the 2,600 MHz frequency band to develop the 5G network. So far, it has installed more than 6,500 base transceiver stations nationwide, covering all chief towns of the 63 provinces and centrally-run cities, along with major industrial parks, tourism sites, seaports, and airports.
The 5G network theoretically tops out at 10 gigabits per second (Gbps), significantly faster than 4G. In practical conditions, 5G speeds could be around 1 Gbps, which is ten times faster than 4G.
Major General Tao Duc Thang, Chairman and General Director of Viettel, said that the deployment of thousands of 5G base stations within six months since it received the license demonstrates the group’s great efforts and determination to keep Vietnam among the countries taking the lead in 5G commercialisation.
He emphasised that 5G facilitates the development of various economic sectors, driving transformation in areas such as manufacturing, education, health care, transport, and logistics. Additionally, it helps expand Viettel's growth space and enhance the country’s competitiveness in the international area.
Meanwhile, VinaPhone has supplied the service for free for users in covered regions. It plans to complete the installation of 3,000 5G base stations across the nation by the end of this year.
Earlier this month, MobiFone signed a memorandum of understanding with Ericsson to collaborate on the establishment of a 5G innovation hub at MobiFone’s premises in Vietnam.
Under the digital infrastructure strategy by 2025 with a vision to 2030 recently signed by Permanent Deputy Prime Minister Nguyen Hoa Binh, the 5G mobile network is expected to reach all cities, provinces, high-tech zones, research and development centres, industrial parks, stations, ports and international airports by 2025 and 99% of the population by 2030.
Ha Long Bay, Bai Tu Long Bay visiting time to be extended to 8:00 p.m
From October 20, the time to visit Ha Long Bay and Bai Tu Long Bay, in the northern province of Quang Ninh, will be extended to 8:00 p.m.
Aiming to better serve the needs of tourists, Quang Ninh has decided to extend the time to visit Ha Long Bay and Bai Tu Long Bay from October 20.
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| Ha Long Bay, Bai Tu Long Bay visiting time to be extended to 8:00 p.m. (Photo: laodongthudo.vn) |
The Quang Ninh People’s Committee has just issued regulations on measures to manage the operation of inland waterway vehicles serving tourists on Ha Long Bay and Bai Tu Long Bay.
Accordingly, from October 20, 2024, in the summer, from April 1 to October 31, sightseeing boats will depart from 5:00 a.m. and return to the dock before 8:00 p.m., while currently they can depart at 6:00 a.m. and must return to the dock before 7:00 p.m.
In the winter, from November 1 to March 31 of the following year, sightseeing boats will depart from 5:30 a.m. and must return to the dock no later than 7:00 p.m., while currently they can depart at 6:30 a.m. and must return to the dock before 6:30 p.m.
Restaurant boats operating along Ha Long Bay must return to the dock before 11:00 p.m., while the current regulation time is 10:00 p.m.
Ships staying overnight in Ha Long Bay and Bai Tu Long Bay must enter the overnight accommodation area in the bays before 6:30 p.m. in winter and 7:00 p.m. in summer.
The operating hours of water-based entertainment facilities in the bay will be from 5:30 a.m. to 6:30 p.m.
The above regulations do not apply to cruise ships when they are not transporting passengers.
New regulations on foreign indirect investment in Vietnam drafted
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| Illustrative image (Source: VNA) |
The State Bank of Vietnam (SBV) is drafting a circular to better manage foreign investment protocols and hopefully make them speedier, reported Vietnam News Agency.
The new circular will regulate the opening and use of Vietnamese dong -denominated accounts for foreign investors, in order to conduct foreign indirect investment activities in Vietnam.
According to the SBV, to achieve the goal of upgrading and developing the Vietnamese stock market, the Prime Minister has assigned the SBV to preside over and coordinate with the Ministry of Finance, the State Securities Commission and relevant agencies to review and propose amendments and supplements to legal regulations. This should simplify procedures and shorten the time of opening indirect investment capital accounts for foreign investors to create favourable conditions for foreign investors when participating in the Vietnamese stock market.
Currently foreign exchange management for foreign indirect investment activities in Vietnam are regulated in Circular 05/2014/TT-NHNN issued in 2014. However, the circular is no longer appropriate as it was developed based on old laws. Specifically, the circular was based on the Investment Law in 2005, Securities Law 2006 and Law on Credit Institutions 2010, which have been replaced by the Investment Law 2020, the Securities Law 2019 and the Law on Credit Institutions 2024.
Therefore, the SBV said, it is necessary to develop a circular to replace Circular 05/2014/TT-NHNN to implement solutions to upgrade the Vietnamese stock market according to the Government's direction and to meet the requirements of foreign exchange management for foreign indirect investment activities in Vietnam currently.
The amended draft circular will simplify procedures for opening indirect investment accounts of foreign investors, regulate the opening of online indirect investment accounts and allow foreign investors to open many indirect investment accounts corresponding to their granted securities transaction codes.
According to the draft circular, foreign indirect investment activities in Vietnam are carried out in accordance with the provisions of the country’s laws on investment securities and other relevant laws.
All revenue and expenditure of transactions related to foreign indirect investment activities in Vietnam by foreign investors must be carried out through Vietnamese dong-denominated accounts, the draft circular states.
The balance in indirect investment accounts of a foreign investor cannot be transferred to term deposits and savings deposits.
Over 67% of Vietnam’s garment fabrics imported from Chinese market
China continued to be the largest market supplying garment fabrics to Vietnam in the first nine months of 2024, accounting for more than 67% of the total import turnover of this item.
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| Import turnover of garment fabrics into Vietnam in the nine months was valued at nearly 10.95 billion USD. (Photo: congthuong.vn) |
According to preliminary statistics from the General Department of Customs, import turnover of various garment fabrics into Vietnam in the nine months was valued at nearly 10.95 billion USD, a year-on-year increase of 14.3%.
In September 2024 alone, the turnover reached over 1.25 billion USD, an increase of 1.2% against August 2024 and an increase of 14% against September 2023.
Up to 67% of the total import turnover of garment fabrics to Vietnam originated from the Chinese market. In September, imports from this market reached over 802.29 million USD, down 4.1% from the previous month but up 10.8% compared to the same period last year. The total import turnover in the nine months reached over 7.33 billion USD, a year-on-year rise of 20.4%.
It was followed by Taiwan (China) with nearly 1.14 billion USD, up 11%, accounting for 10.4% of the total.
Imports from the Republic of Korea in September increased 1.4% against August 2024 and 2.1% against September 2023, worth more than 113.64 million USD. In the nine months, the figure was over 1.11 billion USD, down 0.5%, accounting for 10.2% of the total.
Fabrics imported from Japan reached 478.97 million USD in the nine months, down 4.1%, accounting for 4.4% of the total./.