HCMC receives nearly 1.8 billion USD of remittances in Q1

Thursday, 05/05/2022 22:13
The State Bank of Vietnam’s branch in Ho Chi Minh City (HCMC) said that the city received nearly 1.8 billion USD of remittances in the first quarter of 2022.

Photo for illustration (Source: VTV)

The volume showed a 14.2 percent increase compared to the same period last year.

According to the Vietnam News Agency, those are impressive figures in the context of complex changes in the world situation and the negative impact of the COVID-19 pandemic on global trade and economic activities.

Foreign remittances account for around 12 percent of HCM City’s GRDP, becoming an important resource for socio-economic development in not only the city but also the country as a whole.

Last year, remittances to the city came to a record high of 7.1 billion USD, accounting for more than half of the national volume.

Local tuna exports to Portugal soar by 135%

Vietnamese tuna exports to Portugal continued to record a three-digit growth rate in the first quarter of the year, according to statistics given by the Vietnam Association of Seafood Exporters and Producers (VASEP).

Photo for illustration (Source: VGP)

Most notably, the export value of tuna to the Portuguese market throughout the reviewed period skyrocketed by 135% to US$1.1 million against the same period from last year, said the Voice of Vietnam.

Vietnamese enterprises mainly exported frozen tuna coded HS 0304 to the demanding market, with the average export price reaching US$6,537 per tonne.

Truong Dinh Hoe, secretary general of the VASEP attributed the increase in seafood exports to the fact that local businesses have been primarily focused on handling contract orders signed in 2021, as well as newer ones signed this year.

According to figures compiled by the World Trade Center, Portugal is currently the sixth largest tuna import market in the EU bloc, with the Southern European nation purchasing tuna from 35 countries globally.

In line with this, Vietnam makes up the eighth largest provider of tuna to Portugal, behind Ecuador, China, Papua New Guinea, Mauritius, Indonesia, Ghana and the Philippines.

The average price of Vietnamese tuna exports to this market last year increased with frozen tuna loin coded HS0304 witnessing its highest price, according to the VASEP.

Moreover, tariff incentives under the terms of the EU-Vietnam Free Trade Agreement (EVFTA) have given fresh impetus to the high growth of Vietnamese tuna products to the Portuguese market.

Furthermore, the EU member states' tourism reopening to tourists is expected to push up the demand for high-value tuna products in these countries, which will create a wealth of opportunities for Vietnamese businesses to boost exports moving forward.

Hoe predicted that aquatic exports will continue to grow moving into the second quarter of the year as a result of rising demand for the products at restaurants and hotels in the post-COVID-19 pandemic period.

Vietnam’s longest walking glass bridge hits global headlines

Several foreign media outlets have run stories highlighting the attractiveness of the Bach Long glass bridge in Son La province of Vietnam considered the longest of its kind in the world, when the bridge officially opened to public on April 30, according to the Voice of Vietnam.

Bach Long, the longest walking glass bridge, opens to public on April 30.

Bach Long glass bridge (Source: danviet.vn)

Agence France-Presse (AFP), a leading global news agency, observed that the Bach Long pedestrian bridge snakes around dizzying cliff faces before spanning the length of a dramatic valley between two peaks, stretching for a total length of 632 metres.

It also quoted Hoang Manh Duy, a representative of the bridge's operator, as saying that when visitors stand on the bridge, they are able to admire the beauty of nature in the surrounding area.

According to AFP’s article, Bach Long is the world's longest glass-bottomed bridge, surpassing a 526-metre structure that exists in Guangdong, China.

Meanwhile, the New Zealand Herald noted that tourists were thrilled by the unveiling of the Bach Long bridge.

“While the attraction is yet to welcome Guinness adjudicators from the World Record Body, it has no fear of not measuring up having already claimed the title of the longest walking glass bridge,” the New Zealand-based outlet stated.

It stressed that the attraction can hold up to 450 people at a time and there is the option of doing a leap of faith between the two peaks in the Moc Chau Island Mountain Park Hotel.

“Made of enameled, reinforced glass - operators proved the strength of the see-through bridge by driving a 4x4 ute across it,” the New Zealand Herald added.

According to local media Vnexpress, the world’s longest glass bridge attracted roughly 15,000 visitors during the first three days of the national holiday.

Holiday tickets cost VND650,000, equivalent to US$28.31, each for adults and VND450,000 for children, a price which is VND100,000 higher than on normal days.

The bridge's deck is made of super tempered glass produced by leading French company Saint Gobain, including three layers which are 40m thick.

Furthermore, the entire cable car system was imported from the Republic of Korea.

Cua Lo Port receives first international container ship

Cua Lo Port in the central province of Nghe An, a member of Vietnam Maritime Corporation (VIMC), welcomed the international container ship The Mariner to unload and transport goods to India on the morning of May 5.

Cua Lo port (Photo: congthuong.vn)

This represents the first time that Cua Lo Port has received an international container ship with a loading capacity of about 23,000 tonnes, reported by the Voice of Vietnam.

The move is expected to help Cua Lo Port serve as a crucial bridge in the VIMC's container transport route, linking the nation to Malaysia and India, as well as opening up development orientations for Vietnamese maritime transport and establishing additional transport routes from central Vietnamese localities to international ports globally.

Le Quang Trung, deputy general director of the VIMC, said the event has affirmed the important position of Cua Lo Port as part of wider efforts to accelerate the province’s economic growth  and become a strategic linkage in the VIMC’s logistics chain.

Furthermore, it has also highlighted the importance of Cua Lo Port in becoming the most important logistics hub for goods and services in the northcentral region, facilitating the transport of goods to India and Malaysia and other countries around the globe.

The reopening of the international container route Vietnam-Malaysia-India has affirmed the VIMC's determination and efforts to create momentum for Vietnamese economy to rebound moving into the post-pandemic period.

Simultaneously, this is also a positive signal for Vietnamese commercial activities in the future.

Nearly 2,000 to join art performance at SEA Games 31’s ceremonies

Hanoi has mobilized nearly 2,000 soldiers, artists, actors, athletes and students from 14 art and sports units to participate in a special art program at the opening and closing ceremonies of the upcoming 31st Southeast Asian Games (SEA Games 31), said the Vietnam News Agency.

My Dinh National Stadium (Photo: dantri.com.vn)

Members of the units have organized the performance rehearsal in accordance with five groups at five locations. The overall rehearsal at the My Dinh National Stadium began from May 4.

All equipment serving the opening ceremony has been installed at the My Dinh National Stadium and were tested on May 3-4.

Cultural identities of Vietnam as well as of other Southeast Asian countries will be spotlighted at the special art program of the opening ceremony.

Communication activities and the provision of logistics, tourism, medical, and information technology serving the regional sports event have been ready, towards promoting Hanoi as an attractive and safe destination.

In addition, the municipal administration has implemented plans to ensure security and safety during the event.

The Hanoi Youth Union completed the recruitment and training of 3,000 volunteers to serve activities at competition venues in the city./.

Compiled by BTA

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