At NE Fest in Vietnam, Meghalaya showcases culture to woo int’l biz

Shillong: As part of the ongoing International North East Festival being organised by the Consul General of Ho Chi Minh, Ho Chi Minh City, Vietnam, under the MEA, Meghalaya is connecting with South Asia in general and Vietnam in particular through the three ‘Ts’ of textiles, trade and tourism and the three ‘Cs’ of craft, cuisine and culture.“The departments of textiles, arts and culture and tourism are representing Meghalaya in the first-ever ongoing North East Festival in Vietnam,” an official statement issued by the directorate of information and public relations, Meghalaya said on Sunday. “The respective teams/delegations are actively participating in the various B2B meets, exhibitions, cultural evenings through their official level delegations, textiles entrepreneurs, cultural troupes, music bands who are showcasing Meghalaya’s soft power and investment potential. Textiles sector is a focus area,” the official statement underscored.Union minister of state external affairs, RK Ranjan Singh, inaugurated the North East Festival along with chairman and head, Ho Chi Minh Province, Government of Vietnam, Ambassador of India in Vietnam, Consul General and other delegations from the various NE states. “The Malaysian Airlines, which operates to Dhaka, is keen to further expand tourist traffic to Meghalaya through the land route and it was announced that Vietnamese airlines will shortly commence direct flights from Hanoi/Ho Chi Minh City to Guwahati,” the official statement said.

India plans roadshows, travel mart to boost North East tourism, connect with Vietnam

The Ministry of Tourism in India plans to connect northeast India with Southeast Asian countries, including Vietnam, through roadshows and an International Travel Mart. During the North East India Festival in Vietnam, a B2B meeting on tourism was held to discuss increasing tourism between the two regions. There is a significant gap in tourist flow, with more people from India traveling to Vietnam than vice versa. The ministry aims to address this issue by working with airlines and promoting the North East as a tourist destination. They also discussed signing an MoU between tour operator associations from both regions.

India urges airlines in Vietnam to explore possibilities of direct flights to north-eastern states

Union Minister of State for External Affairs Rajkumar Ranjan Singh has urged airlines from Vietnam to consider launching direct flights to cities in the north-eastern states of India. Singh highlighted the strong bilateral relations between India and Vietnam, as well as the potential for increased investment and tourism opportunities. He also emphasized the connectivity of the north-eastern states through air, land, and rail, and invited Vietnamese airlines to explore the possibilities of connecting these states with cities in Vietnam. The bilateral trade between India and Vietnam has seen significant growth, reaching USD 15 billion in 2022.

Vietnam's real estate woes: How much worse can they get?

Vietnam's real estate sector has been facing challenges, with developers missing interest payments on debt and a credit crunch due to government measures. The sector was the worst performer on the Ho Chi Minh City stock exchange, with a drop of nearly 16% last month. The largest listed developer, No Va Land, has seen its shares down more than 80% in a year. The pressure is mounting with real estate bonds of about $6 billion set to mature each this year and the next. However, experts believe that the spillover risk is limited and there is no risk of massive contagion. The banking system is exposed to the property sector, with about 25% of total loans, but mortgages are not viewed as risky. The turmoil in the sector started with a long-running graft campaign and stricter regulations on transparency and corporate bonds. Despite the challenges, Vietnam's long-term prospects for the real estate sector remain positive due to a younger population and an expanding middle class.