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Vietnam could be among the top 20 economies by 2050, projected PricewaterhouseCoopers (PwC) in a report on its perspectives on Vietnam.

The report was released on the occasion of the APEC CEO Summit, which is taking place in the central city of Da Nang on November 8-10 as part of the APEC 2017 Economic Leaders’ Week.

According to the report, in the long term, PwC forecast that Vietnam will be among the fastest growing economies in the world as its average real GDP growth reaches 5.1 percent per year.

Confidence levels are high among business leaders in Vietnam, with up to 47% of foreign business investors in Vietnam plan to increase their investments in the Southeast Asian country over the next 12 months, auditing and consulting firm PwC has said in a recent survey.

This makes Vietnam most attractive destination for planned increases in cross-border investments the 21 Pacific Rim economies. The others include mainland China, Indonesia and the U.S., where at least 40% of foreign CEOs plan to raise spending.

PwC surveyed over 1,400 business leaders with responsibility in each of the 21 APEC economies in the run up to the annual APEC CEO Summit in Vietnam. Dinh Thi Quynh Van, PwC Vietnam general director, noted that positive sentiments can be seen in three areas: an expanding domestic economy, expectations of new growth from trade agreements, and export expansion (both regional and intra-regional export growth), along with a positive outlook on innovation in key sectors of opportunity.

“Sustained economic reform, coupled with a strengthening of public institutions and an emphasis on education and skills development will be crucial to make Vietnam fit for the future,” Van said.

According to key findings, up to 92% of CEOs in Vietnam are confident in growth for their business over the next 12 months, with 38% of them saying that they are “very confident”.

In 2016, 50% of CEOs in Vietnam were ‘very confident’ in revenue growth. However, the comparison to 38% ‘very confident’ in 2017 is not significant as this is within the margin of error, PwC said. A net 62% of Vietnam CEOs said they will increase investments in 2018, above the APEC average of 50%.

Source: BIZNEWS , Vietnam Pictorial

The Vietnam Dong VND is among the most stable currencies in Asia this year said the US based Bloomberg News echoed by similar views from Vietnamese economists who were confident that the stability would remain until the year end thanks to the economy positive signs.

The currency has been kept stable, weakening about 1% against the US Dollar since the start of this year. An increase in remittances was behind this, said Can Van Luc, a member of the National Financial and Monetary Advisory Council.

Remittances from Vietnamese living abroad were worth US$13.4 billion in 2016, up 3% from the previous year, according to latest statistics by the World Bank. The remittances are forecast to grow 5-7% to exceed US$14 billion this year, taking Vietnam to the top 15 countries with the biggest remittances, he noted.

The rising remittances have helped the country ensure enough dollar supply to meet the domestic demand and allowed the State Bank of Vietnam (SBV) to boost forex reserves. “Such a high level of foreign reserves will allow us to step in to stabilize the money market when needed”, said SBV deputy governor Nguyen Thi Hong on the sidelines of a meeting last month.

The central bank has adopted a more market-based management mechanism with reference exchange rates set on a daily basis since January 2016 in its effort to maintain the Vietnam Dong’s value.

Luc added that surge in foreign direct investment (FDI) has also helped stablise the currency. The Ministry of Planning and Investment’s Foreign Investment Agency reported that Vietnam drew in US$28.24 billion in FDI in the first 10 months of this year, 12% higher than the country’s yearly target of US$25 billion. The FDI disbursement was estimated at US$14.2 billion during the period, up 11.8% year-on-year.

In addition, Vietnam has also witnessed a growth in foreign indirect investment over the past several years. Foreign investors have poured US$4.2 billion into the local stock market in the first three quarters of the year, a 3-fold increase from 2016, according to Director of the Business Development Institute Le Xuan Nghia.

Ho Chi Minh City led the way in both FDI attractions and remittances. The southern economic hub lured around US$5.03 billion in the first 10 months, doubling the year-on-year figure.

In 2016, overseas remittances to the city reached US$5 billion, accounting for 57-58% of the national total, a year-on-year rise of 11%. It aims a 10% growth to US$5.5 billion this year.

More pressure will be likely on the Vietnam Dong at the end of the year due to the US Federal Reserve’s forecast benchmark interest rate rise and higher demand for foreign exchange from importers ahead the Lunar New Year holiday.

Source: CustomNews

Halloween is a traditional Western festival celebrated every year on October 31. In recent years, this special occasion has also been organized in Vietnam, especially at some five-star hotels and popular sightseeing spots in Ho Chi Minh City.

Those still weighing a venue to enjoy the festival could check out the list of cool places recommended below.

Sheraton Saigon Hotel & Towers: 88 Dong Khoi Street, District 1

If there is no busy work on October 31, guests are recommended to Saigon Café Restaurant on level 1 of the Sheraton Saigon Hotel & Towers to experience a “Haunted Restaurant” serviced by death hostesses. Diners will have the opportunity to savor a lavish buffet feast characterized by appetizing dishes such as pumpkin salad, Coleslaw, California rolls, corn on the cob, Kansas City BBQ ribs, layered hamburger pie, oven roasted American prime ribs, baked honey ham glaze, oyster Rockefeller and Jack Daniels BBQ wings.

In addition, a dessert corner in a Halloween theme with New York cheesecake, fresh Philly cream cheesecake, brownies, cherry pie, pumpkin pie and Boston cream pie should not be missed on the special night. Notably, kids will be pampered to dress up in Halloween amazing costumes and take part in the “Scary Cookie Monster” decoration contest filled with great excitement and jubilant atmosphere.

Caravelle Saigon: 19-23 Lam Son Square, District 1

Saigon Saigon Rooftop Bar on the 10th floor of the Caravelle Saigon Hotel in downtown HCMC is touted as a perfect venue for this year’s Halloween season as holiday-goers can sense the genuine and fantastic atmosphere of Halloween night on the rooftop bar in the heart of the city.

Diners will be served with gruesome finger food and creepy cocktails all night long and are able to win fantastic prizes awaiting the spookiest stars of the night.

Sofitel Plaza Saigon: 17 Le Duan Boulevard, District 1

A special Halloween buffet will be put on at Mezz Restaurant on level 2 of the Sofitel Saigon Plaza in HCMC’s District 1 from October 28 to 30.

The restaurant will be transformed into Spooky Haunted House during the Halloween season where party-goers will be provided with a chance to savor a unique Halloween-themed buffet.

In addition, guests are advised to dress up scary costumes on the night October 31 for a chance to bag special prizes.

Renaissance Riverside Hotel Saigon: 8-15 Ton Duc Thang Street, District 1

Those wishing to hang out with their friends and loved ones on the occasion of Halloween could also consider the Renaissance Riverside Hotel Saigon in HCMC’s District 1.

Visitors will be immersed in the spooky atmosphere of Halloween at its Viet Kitchen restaurant on October 28 where diners can find traditional Halloween treats such as pumpkin pie, spider cookies and Halloween cake at a charming dessert station with haunting decoration.

Moreover, there will be also extravagant selections of food like roasted lamb thigh with red wine sauce, prime pork ribs BBQ, and whole grilled seabass with herbs.

Dam Sen Cultural Park: 03 Hoa Binh Street, District 11

The Halloween Night which is scheduled to take place on October 30-31 at Dam Sen Park in District 11 will comprise scores of exhilarating activities, which are promising not to disappoint young people.

Among the key activities is a contest designed for couples with the most impressive Halloween costume.

Additionally, those taking part in the Halloween night can meet and exchange with Halloween cosplayers such as Malaysia’s Hakken and Bummy Spears while watching Japanese rock and Kimono shows, among others.

Nguyen Hue Pedestrian Square: Nguyen Hue Boulevard, District 1

Like previous years, it would be a big mistake for Saigonese without dropping by the pedestrian square on Nguyen Hue Boulevard in the downtown area during the Halloween season where hundreds of local youths and city dwellers wearing masks and dressing up in Halloween costumes jump for joy in the bustling and horrible atmosphere.

Bui Vien Pedestrian Street, Pham Ngu Lao Ward, District 1

If you are preparing for plans to go out on the Halloween night, you should also take note of Bui Vien Street on your list as a slew of restaurants, bars and night clubs on the pedestrian street will be decorated in the Halloween style to arouse curiosity of visitors, especially those from abroad during the special holiday.

Diners will be offered food and drinks in Halloween style and are encouraged to put on Halloween costumes, masks and related items on the night of October 31.

Source:VieNamNet Bridge

Four first universities of Vietnam have been recognised by France’s High Council for Evaluation of Research and Higher Education (HCERES) for meeting international standards.

The four universities are members of the high-quality engineer training programme of Vietnam (PFIEV). They are Hanoi University of Technology, Da Nang University of Technology under the Da Nang University, the University of Technology under the Ho Chi Minh City National University, and the National University of Civil Engineering.

Addressing a ceremony to hand over certificates of the recognition to the universities on October 17, Deputy Minister of Education and Training Bui Van Ga said that the universities are receiving the certificates in the context of comprehensive reforms to Vietnam’s education and training system.

Vietnam has issued legal documents facilitating schools’ self-reliance, he said, adding that quality checks are significant to providing transparent information for students and relevant parties to speed up school’s modernisation and international integration.

Ga asked the four universities to continue on their path towards self-reliance, while mobilising resources for sustainable growth, and expanding their engineer programmes effectively.

HCERES’s criteria of evaluation are strategy and governance, training and scientific research, training process and vocational integration orientation, foreign relations, management, quality and ethics.

The certificate is valid for five years.

Two Vietnamese universities have secured places on a list of the top 150 universities in Asia, compiled by London-based education consultancy Quacquarelli Symonds (QS).

Vietnam National University (VNU)-Hanoi maintained its ranking of 139th while VNU-HCM City climbed five ranks to 142.

Hanoi University of Science and Technology moved from 301th-350th to the group of 291th-300th. Can Tho University had its ranking downgraded from group of 251th-300th to the group of 301th-350th. Hue University also saw its ranking downgraded from group of 301th-350th to 351th-400th.

Source：VietNamNet Bridg ,  Vietnam+

On the 5th & 6th of October 2017, Talentnet and Mercer – global leading HR consulting firm announced the results of latest Vietnam Total Remuneration Survey Report in Hanoi and Ho Chi Minh City, offering a best-fit platform for C&B solutions.

Talentnet – Mercer Total Remuneration Survey (TRS) 2017 attracts a rich participant list including 592 well-established MNCs and leading local firms from 16 industries such as High Tech, Consumer Goods, Chemicals, Life Sciences, Manufacturing,…With remuneration data of 289,236 employees across Vietnam, TRS 2017 continues to be the largest and the most comprehensive salary report in Vietnam. The survey report covers a wide range of 16 industries.

Vietnam is still expected to grow faster than all major economic regions, hitting top position compared global norm.

From Mercer, Ms. Kulapalee Tobing, Principal – Career Products Leader shared about the overview of global and regional trends in Human Resources, including human capital index, talent shortages, attrition & hiring trends, talent mobility, pay differentials…. Also, ASEAN market has the most rapid acceleration of GDP as compared to other major economic zones and Vietnam salary increase in 2017 is in the top 3, just right after Myanmar and Indonesia.

In 2017, the average salary offered by local companies is 29% lower than MNCs. The pay differences for annual base salary for different positions between MNCs and local enterprises are 15% (Para-professional), 30% (Professional) and 41% (Management). The gap is much wider at management level (41%) as multinational companies have been focusing on offering higher salary to management positions to fairly compensate for their larger contribution and scope of work. On the other hand, local companies are willing to be more flexible in pay to compete with MNCs for key talents. Sales and marketing continue to be in the top list of hot jobs to recruit. Engineering professionals are new positions that have high demand and become challenge for recruiters to find the best match.

Source: Talentnet.vn