The domestic market, encompassing trade and services, holds a significant share in GDP growth. (Photo: VNA)Hyundai Thanh Cong's automobile production line (Photo: VNA)VNAThe forecast for 2024 indicates that consumer demand will continue to be a primary contributor to Vietnam's economic growth , in addition to the ripple effects of public investment and exports.Tran Du Lich, an economic expert, asserted that it is time to fully exploit the domestic market , considering it the focal point to balance the country’s export-oriented economic policies and strengthen the economy's internal capabilities.The domestic market, encompassing trade and services, holds a significant share in GDP growth. Moreover, Vietnam's market of 100 million people remains attractive to both domestic and foreign investors.Lich highlighted key measures to bolster the market, such as tax tools, consumer credit expansion, tourism promotion, and institutional reforms.Supporting this perspective, Nguyen Quoc Viet, Vice Director of the Vietnam Institute for Economic and Policy Research (VEPR), said the service sector, especially domestic consumption, played a crucial role in GDP growth in 2023 and continues to be a major driver of economic growth this year.According to the expert, stimulating domestic consumption in the current context should not only follow traditional measures but also align with new criteria for green growth and carbon reduction. He suggested focusing on the "Vietnamese prioritising Vietnamese goods" campaign and steering support towards domestic enterprises.According to economic experts, the domestic market still holds untapped potential. While growth pillars like exports and investments face challenges, boosting the consumption pillar is the quickest, cost-effective, and potentially high-impact solution./.

According to the Ministry of Agriculture and Rural Development, the total rice output in Vietnam increased 1.9% to 43.5 million tonnes, meeting both domestic demand and export. Experts said 2023 was full of difficulties for rice export as geo-political conflicts in the world disrupted food and input material supply. However, as a leading exporter of farm produce, particularly rice, Vietnam still managed to guarantee national food security and export growth. The quality of Vietnamese rice in the global market has also been further affirmed after the ST25 variety once again obtained the “World’s Best Rice” title recently. Rice exporters said as global supply is still low, the demand for Vietnamese rice will surge in 2024, especially from the Philippines and China./.

“Next year, we want to conquer big video-on-demand platforms like Netflix, Amazon, Apple Plus, and cinema including cinemas in Việt Nam,” Anh said. “I think animation production in Việt Nam has developed well compared to a few years ago. “Vietnamese animation films are getting more and more professional and closer to the audience,” he said. Vietnamese animation films haven't made any dent in the world’s animation market so far, but that could soon change. She said besides the state-owned Việt Nam Animation SJC, there were many private companies.

By An PhươngIn a world filled with timeless images of men on bended knee, presenting sparkling engagement rings to their surprised brides-to-be, the notion of women taking the lead in marriage proposals remains a rarity. When it comes to women taking the initiative to propose, it remains extremely uncommon. Instead, we are expected to wait and avoid trying to rush or 'trap' men," Sang said. Freelance wedding planner Tuấn Ngọc, 28, said that proposals initiated by women like Sang are more embraced nowadays. Perhaps, the increased visibility of proposals where women take the initiative has motivated other women to venture beyond their usual comfort zones.

Videos Dao Thuc villagers keen to preserve age-old water puppetry Dao Thuc village, about 20km from the centre of Hanoi, is the proud home of Vietnam’s water puppetry. Throughout its 300-year history, the villagers of Dao Thuc have been making major efforts to preserve the art form. Videos Vietnam experiencing vibrant sea tourist influx The tourism industry in 2024 has seen positive signals as ocean liners have bustled at ports for the past 10 days, bringing tens of thousands of foreign visitors to Vietnam. The Cherry Blossom Island has become a popular destination among tourists during the early days of each new year. Videos Standard Chartered forecasts Vietnam's 2024 GDP growth at 6.7% Standard Chartered Bank expects Vietnam to have a robust GDP growth of 6.7% in 2024, with 6.2% and 6.9% in the first half and second half of the year, respectively.

Three Vietnamese students conquers taste buds of the Finnish people through delicious Vietnamese salt coffee (Photo: cafef.vn)Na Uy, a 17-year-old boy from Da Nang, said that he had started selling salt coffee with his two housemates Phung Gia Phat, a 17-year-old from Ho Chi Minh City, and Pham Minh Quan, a 15-year-old from Hanoi. The coffee shop has only several old tables and chairs, some mixing tools, and painted signs in Finnish, English, and Vietnamese. Each cup of salt coffee costs EUR2, equal to VND53,000, milk coffee costs EUR1.8, equivalent to VND47,000, and black coffee costs EUR1.5, equal to VND39,000. Finnish customers enjoy Vietnamese salt coffee (Photo: cafef.vn)The story of the three Vietnamese students selling Vietnamese salt coffee also appeared in a local newspaper. In addition, they also went viral on Tiktok with millions of views thanks to their interesting videos recording customers’ reactions when trying the delicious Vietnamese salt coffee.

Maritime transportation companies, including VOSCO, were severely affected by the COVID-19 pandemic in 2020 and the global economic downturn. The fleet consists of eight dry cargo and bulk cargo ships, three oil tankers and two container vessels. In the challenging background, the securities firm believes that VOSCO faces investment risks in operating their dry cargo and container vessels below cost and waiting for improved freight rates to operate at higher prices. SBS recognises VOSCO as one of Việt Nam’s leading maritime transportation companies, catering to a wide range of domestic and international clients. VOSCO boasts a diverse fleet, comprising dry cargo carriers, oil tankers and container ships, operating seamlessly on both domestic and international routes.

Vietnam has highly valued the WEF’s role in the world and Vietnam, and stayed ready to promote ties with the forum. These railways, when completed, will open economic corridors linking Vietnam to Central Asia, and even Europe via China, shortening the distance between Vietnam and Central Asia and turning the northern border provinces of Vietnam into a gateway to the north. Vietnam, Japan hold environmental policy dialogueThe eighth Vietnam - Japan environmental policy dialogue was held on January 12 in a hybrid format. To date, more than 40 projects related to the mechanism have been carried out in Vietnam, helping Vietnam raise its capacity to implement Article 6 of the Paris Agreement while promoting the process of reducing greenhouse gas emissions. The State Bank of Vietnam estimated that the total amount of remittances to Vietnam in 2023 increased 25-30% year on year.

During a working session with the ministry's units on Thursday, Minister Diên underscored the significance of developing the Key Industrial Law to establish an independent, self-reliant, and resilient industrial base. The project on the Key Industrial Law is currently under research and development to promote the development of foundational and strategic industries. In addition to constructing the Key Industrial Law, the continuous improvement of development strategies for priority industries is crucial. Three policy proposalsThe MoIT is currently developing the Key Industrial Law, which encompasses three policies. First, it focuses on creating and implementing the National Programme for Industrial Development to overcome past shortcomings in strategic planning.

Prime Minister Pham Minh Chinh and Indonesian President Joko Widodo co-chaired a high-level business dialogue in Hanoi on January 13 morning as part of the latter’s state visit to Vietnam.At their meeting one day earlier, the two leaders shared the view that economic and trade ties remain a bright spot in bilateral relations, with two-way trade reaching 13 billion USD in the first 11 months of 2023, and expected to soon hit 15 billion USD, and even 18 billion USD by 2028.At the dialogue, President Widodo suggested the two countries step up dialogues and high-quality cooperation to realise their common vision of becoming high-income nations by 2045.Indonesia has opened a carbon trading exchange and is promoting the e-vehicle industry, the President said, expressing his hope that leading Vietnamese businesses will increase their investment in the country, especially in its new capital city, covering such spheres as the e-vehicle industry, aviation, tourism, real estate, science-technology, banking, finance, education, and manufacturing. For his part, PM Chinh held that President Widodo’s visit and his opinions delivered at the dialogue will encourage enterprises to step up their cooperation and investment.Pointing out that economic cooperation has yet to match the bilateral political ties as well as the two economies’ stature and the two sides' expectations, the PM called on businesses to continue their connectivity and investment in order to materialise high-level agreements between the two countries and fulfill their set targets.He appreciated Indonesian investors in Vietnam, with many projects running successfully, noting the country is attracting investment in emerging sectors like digital economy, green economy, circular economy, knowledge-based economy and sharing economy, along with the halal industry and agriculture.The PM also expressed his hope that Indonesian businesses will support their Vietnamese counterparts to join supply chains in Indonesia and the world as well.Vietnam always creates optimal conditions for enterprises, including those from Indonesia, to operate stably, sustainably and successfully in the country, he affirmed.Earlier the same day, the two leaders exchanged views on issues of shared concern during their working breakfast./.

Vietnam successfully sells 10.3 million forest carbon credits (10.3 million tonnes of CO2) in 2023. The remaining 10.3 million USD will be paid after the transfer of 10.3 million tonnes of CO2 is completed. The Vietnam Forest Protection and Development Fund has received and disbursed all the first payment so that six north central provinces can urgently make payment plans for forest owners. According to the Vietnam Administration of Forestry, the country planted about 250,000 hectares of forest last year, surpassing the yearly plan by 2%. Total revenue from all forest environment services reached more than 4.1 trillion VND (169 million USD)./.

President Vo Van Thuong (second row, fifth from right) and his Indonesia n counterpart Joko Widodo (third from left) in a joint photo with athletes and artists at the programme in Hanoi on January 12 (Photo: VNA)A performance of Pencak Silat at the event (Photo: VNA)– President Vo Van Thuong and his Indonesian counterpart Joko Widodo watched a martial arts and musical programme performed by athletes, soldiers, and artists of the Vietnam People’s Army in Hanoi on January 12.The event, part of a state visit to Vietnam by the Indonesian leader, featured performances of Pencak Silat, a traditional martial art of the archipelago nation.Pencak Silat entered Vietnam in 1989 and has become one of the strengths of Vietnam at major sports tournaments in Southeast Asia and the world.Traditional martial arts of Vietnam were also performed in the presence of the two Presidents and senior officials.Participants also enjoyed performances of traditional songs and dances of the two countries.Earlier the same day, President Thuong hosted a welcome ceremony for and held talks with President Widodo./.

Deputy Prime Minister Tran Luu Quang (R) receives Chief Minister of India’s Gujarat state Bhupendra Patel (Photo: VNA)– Deputy Prime Minister Tran Luu Quang on January 11 received Chief Minister of India ’s Gujarat state Bhupendra Patel, on the occasion of his attendance at the 10th Vibrant Gujarat Global Summit held from January 9-12.Quang stressed that cooperation opportunities between Vietnam and Gujarat are being opened up, especially since the launch of direct flights between the state and Vietnam’s two major cities of Ho Chi Minh City and Hanoi in November 2022, with a frequency of 14 flights a week; and as many Gujarat -based corporations plan to invest in the Southeast Asian country.He proposed the chief minister continue paying attention to boosting the two sides’ cooperation, including stepping up delegation exchanges, increasing the efficiency of economic, trade and investment ties, speeding up negotiations to raise flight frequency, and strengthening collaboration between the two countries’ localities.Bhupendra Patel expressed heed to information shared by Quang about the Vietnamese situation, particularly its mechanisms and policies to create favourable conditions for foreign investors, including those from India, in the fields it has needs such as energy, infrastructure, seaport, oil and gas, innovation, green economy, and digital transformation.According to him, there is huge potential for cooperation and investment for Vietnamese businesses in Gujarat, as the state is located in an important geographical location in the Asian - Middle East – European infrastructure connectivity.Quang took the occasion to invite Bhupendra Patel to visit Vietnam to seek collaboration potential and opportunities, and the latter accepted the invitation./.

Under the current tax regime, fertilizers are categorized as non-taxable, which means businesses in this sector cannot declare or offset input VAT. Foreign fertilizer sellers can recover their input VAT, potentially allowing them to offer lower selling prices and gain a competitive advantage. Meanwhile, the Government may miss out on VAT revenue at the import stage, where import taxes are generally low or even zero. Both domestic fertilizer manufacturers and the Ministry of Industry and Trade have jointly recommended reclassifying fertilizers into the 5% VAT category. Fertilizers in Thailand, Laos, Myanmar, the Philippines, Pakistan, and the United States are exempt from VAT.

When the daughter was three years old and still could not speak Vietnamese fluently, Thi sent the girl to an English class. In addition, Thi also registered an English class for the girl at her preschool, and paid tuition of VND700,000 a month. Thang believes that it would be better for the girl to practice Vietnamese first before sending her to English classes. Le Huyen in district 3, HCM City, has enrolled her 10 year old in three English classes. As the boy has many English lessons, he has to attend classes on weekends as well.