Want to be in the loop?
subscribe to
our notification
Business News
VISA EXEMPTION FOR VISITORS FROM FIVE COUNTRIES EXTENDED
The visa exemption will be applied regardless of passport type or immigration purpose, so long as the travellers meet the requirements of relevant Vietnamese laws and stay in Viet Nam no more than 15 days.
The Government has applied the waiver for visitors from these five countries for one year period starting from July 1 last year.
The decision aims to lure more foreign visitors to Viet Nam and to boost domestic tourism.
The visa exemption for the five Western European countries has contributed greatly to Vietnamese tourism development over the past year.
According to the Viet Nam National Administration of Tourism, from July last year to May this year, eleven months since the visa-free policy was enforced, the total number of tourists from these five countries increased by more than 15 per cent compared to the previous period.
In the first half of this year, Viet Nam welcomed 4.7 million international tourists, a 21 per cent increase compared to the same period last year.
The number of tourists from Hong Kong, China, Thailand and South Korea, as well as the United Kingdom and Spain, has increased significantly.
Many Southeast Asian countries have simplified their visa procedures to attract tourists. In March this year, Indonesia waived visa requirements for nationals from an additional 79 countries, thereby expanding its list of visa-free nations to 169.
Source: VIR
Related News
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.
FDI INFLOW INTO VIETNAM REACHES NEARLY 15.2 BILLION USD
Vietnam attracted nearly 15.2 billion USD in foreign direct investment (FDI) in the first six months of this year, a year-on-year increase of 13.1 per cent, according to the General Statistics Office.
GDP GROWTH REACHES 6.42 PC IN FIRST HALF
Vietnam's economy grew by 6.42 pc in the first six months of 2024, slightly lower than the figure of 6.58 pc in the same time of 2022 within the 2020-2024 period.
CAPITAL FLOWS STRONGLY INTO INDUSTRIAL REAL ESTATE
Industrial real estate has had easier access to bank credit since July, when the State Bank of Vietnam (SBV) reduced the credit risk coefficient for industrial real estate from 200 per cent to 160 per cent, encouraging commercial banks to lend to more projects in the segment.