Vietnam maintains its position as the world's largest producer and exporter of pepper. This was stated at an international conference on the Vietnamese pepper sector, recently held in the Central Highlands Dak Lak province.
With its highest nine-month growth in 12 years, Vietnam is poised to become Southeast Asia's fastest growing economy this year. Le Trung Hye, Deputy Director General of the General Bureau of Statistics, said the agency expects Vietnam's economy to grow by 8% in 2022, despite the not-so-positive economic situation in the latest quarter.
Canadian travel magazine The Travel has listed Vietnam as one of the "10 most incredible places in the world that are amazingly cheap to visit", along with Laos and Indonesia. “This is one of the cheapest countries to visit and one of the most underrated,” the magazine says.
Russian companies want to develop new areas of Vietnam, one of the most promising markets in Asia, they said at the Vietbeauty & Cosmobeauté Vietnam 2022 event in Ho Chi Minh City. Aleksey Solomatin of the state export support center in Moscow said the nine participating Russian firms specialize in health and beauty products. They want to look for partners and agents in Vietnam.
Oil and gas giant Petrovietnam is seeking government approval to build a $17-18.5 billion refinery and crude oil storage facility in southern Vietnam amid an expected domestic fuel shortage. The project, which will be located in the province of Ba Ria-Vung Tau, will be implemented in two phases, with the first phase requiring 70 percent of the funding, the state-owned company said in the proposal.
The construction of Ring Road №3 in Ho Chi Minh City is expected to start in June 2023, with completion scheduled in three years, according to a government decree on the implementation of the project. The road, which is over 76 kilometers long, passes through the city of Ho Chi Minh City and three provinces in Vietnam's key southern economic region: Binh Duong, Dong Nai and Long An.
Apple is in talks to make Apple Watches and MacBooks in Vietnam for the first time as the US tech giant looks to diversify production away from China, Nikkei Asia reported. Apple suppliers Luxshare Precision Industry and Foxconn have begun test production of the Apple Watch in northern Vietnam with the goal of producing the device outside of China, according to the publication.
The Ministry of Industry and Trade has warned that Vietnam's fuel reserves are too scarce to meet real demand and a significant increase is needed to ensure fuel security. The country maintains a reserve of 370,000 cubic meters, which corresponds to 6.5 days of consumption, which is too little, according to a recent report.
Over the 10 years from 2011 to 2020, the level of investment in education tends to steadily increase, reaching more than 18% of the total state budget expenditures, which is equivalent to 4.9% of GDP, which is higher than in many countries in the region.
Samsung is testing its ball grid array products and will mass produce them at the tech giant's factory in northern Thai Nguyen Province in July 2023. Roh Tae-Moon, head of Samsung's key smartphone division, said this at a Friday meeting with Prime Minister Pham Minh Chinh.
Authorities in the Central Highlands town of Da Lat want to build a new night market and walking-only street to foster tourism. To cost VND1.6 trillion ($68.6 million) they will come up next to Cam Ly Stream that drains into Xuan Huong Lake.