New alliance pushes ESG standards for Vietnamese businesses
A new partnership between EY and the Vietnam-Singapore Board Forum (VSBF) is set to strengthen ESG capabilities for Vietnamese businesses, helping shape more sustainable business models.
Thailand is way ahead of the game, but Vietnam still welcomed record foreign arrivals and revenue in 2016. Tourists arrivals in Vietnam past the 10 million mark last year, and the $18 billion in revenue collected by the sector contributed around 7.5 percent to the country’s economy.
Thailand is way ahead of the game, but Vietnam still welcomed record foreign arrivals and revenue in 2016.
Tourists arrivals in Vietnam past the 10 million mark last year, and the $18 billion in revenue collected by the sector contributed around 7.5 percent to the country’s economy.
According to tourism data, Vietnam fell far short of Southeast Asia's most popular destination,Thailand, which received over 30 million international arrivals and bagged nearly $46 billion from tourists.
The entire region, excluding Myanmar and Brunei, raked in an estimated $120 billion from tourism, based on data compiled by VnExpress International. However, the figure was just half that earned by the United States alone.
On average, each visitor to the U.S. spent approximately $3,000, while in Asia, their spending was three times less.
However, Vietnam made significant progress by rising eight places in a global tourism competitiveness index compiled by the World Economic Forum. It also said the country could take better advantage of this momentum by focusing more on sustainable environment policies.
Tourists are mostly lured by Vietnam’s rich natural and cultural resources.
By 2020, the sector is expected to contribute 10 percent to Vietnam’s gross domestic product and is set to welcome 17-20 million foreign visitors per year.
By 2030, it is aiming to become the leading destination in Southeast Asia.
A new partnership between EY and the Vietnam-Singapore Board Forum (VSBF) is set to strengthen ESG capabilities for Vietnamese businesses, helping shape more sustainable business models.
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Scheduled for completion in 2027, the logistics facility will be the first of its kind in Vietnam significantly boosting parcel processing capacity up to 7 million parcels daily.
Gamuda Land will use the loan to invest in a luxury real estate project in Ho Chi Minh City.
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