“The Wall” of the Vietnam War Memorial in Washington is amazing, here’s why

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The Vietnam Veterans Memorial is a 2-acre (8,093.71 m²) U.S. national memorial in Washington D.C. It honors service members of the U.S. armed forces who fought in the Vietnam War, service members who died in service in Vietnam/South East Asia, and those service members who were unaccounted for during the war.

Its construction and related issues have been the source of controversies, some of which have resulted in additions to the memorial complex. The memorial consists of three parts: the Vietnam Veterans Memorial Wall, completed first and the best-known part of the memorial; The Three Soldiers; and the Vietnam Women’s Memorial.

The main part of the memorial, which was completed in 1982, is in Constitution Gardens adjacent to the National Mall, just northeast of the Lincoln Memorial. The memorial is maintained by the National Park Service, and receives around 3 million visitors each year. The Memorial Wall was designed by American architect Maya Lin. In 2007, it was ranked tenth on the “List of America’s Favorite Architecture” by the American Institute of Architects. As a National Memorial, it is listed on the National Register of Historic Places.

According to a report by Jan Scruggs on Military Times, the Vietnam War Memorial is amazing. Let’s see why

On May 28, 1969, while bleeding to death in Vietnam, I was preparing to die at age 19 after saying the Lord’s Prayer. Brave US troops, all draftees, found and dragged me to safety. I recovered and completed my tour.

May 28, 1979, I rented a room at the National Press Club and boldly told the media in attendance that there would be a national memorial in Washington engraved with the names of the fallen honoring all who served in the recently completed Vietnam War. I had national credibility from my research on combat trauma at American University. The memorial would give them recognition and, perhaps, some healing for the entire nation. The success of the plan was unlikely, led by a naive GS 7 federal employee named Scruggs. Yet, the memorial was funded and built in record time for the November 1982 dedication.

A dedicated team planned the project led by several grads of the West Point and the Harvard Business School. We held the largest design competition ever and endured a raging national controversy over the avant-garde design chosen, which has worked so masterfully since 1982, enjoyed by over 5,000,000 visitors annually. The designer was Maya Lin, then a 21-year-old student at Yale University.

Visiting the Vietnam Veterans Memorial in Washington, DC | @ Washington.org

What is often called “The Wall” also led to unanticipated outcomes, including the Korean War Memorial in 1993 and the World War II Memorial in 2004, on America’s Mall. If imitation is the most sincere from of flattery, The Wall deserves awards. There are several 1/2, 3/4 and full scale replicas traveling the country since 1984.

Pensacola, Florida, made a granite replica (The Wall South) a few years later near the naval base. Recently a full-scale granite replica was dedicated in Missouri by a Vietnam vet — desiring the healing that often emanates from the memorial — to be closer to the veterans in the western USA. The replica faces the sun at the same angle as in Washington. Other replicas come and go from veterans groups. One entrepreneur was selling 1/2 and 3/4 scale replicas in the neighborhood of $200 or more for interested people to have on their property.

The Wall is amazing. There is no anthropological or sociological precedent for a monument with such characteristics or replication. This would include the phenomena of probably a half-million items which have been left at the Wall, stored by the National Park Service. Some of these items have been displayed in the Smithsonian and the Imperial War Museum in London. And lets not forget Rolling Thunder, with its hundreds of thousands of motorcycle riders who ride to The Wall from was far away as Oregon. The Wall is like Mecca or the Western Wall in Jerusalem that compels the faithful to visit.

The talking point for the memorial was to “separate the war from the warrior” to honor the service of our citizens who gave their lives in the rice paddies of Vietnam. Victory was elusive, as is the case in Afghanistan.

It is fascinating to think that 75 years ago, on June 6, 1944, thousands of America paratroopers and infantry were on their way to the beaches and cliffs of Normandy, France, where many are now buried in cemeteries after laying down their lives. When I visited Normandy and places like Gettysburg I always remember the sobering, haunting words of World War I veteran, Archibald MacLeish, written during World War II.

“The Young Dead Soldiers Do Not Speak”

“Nevertheless they are heard in the still houses: who has not heard them?

“They have a silence that speaks for them at night and when the clock counts.

“They say, We were young. We have died. Remember us.

“They say, Our deaths are not ours: they are yours: they will mean what you make them.

They say, Whether our lives and our deaths were for peace and a new hope or for nothing we cannot say: it is you who must say this.”

Enjoy Memorial Day 2019, where we live in safety and freedom in the United States of America. Take a moment to think of the fallen who did their duty and who are in harm’s way on this day.

Jan Scruggs is founder of the Vietnam Veterans Memorial, was an infantryman in Vietnam, and was appointed chairman of the Selective Service System’s National Appeals Board by President Obama in 2013.
This article first appeared on Military Times

CNN: world’s largest cave in Vietnam discovered to be even bigger

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The world’s biggest cave, Son Doong, in the jungle-filled Quang Binh province of central Vietnam, appears to be even bigger than previously thought, according to the US Cable News Network (CNN) Travel.

Last month, a trio of British divers ventured to the world natural heritage site of Phong Nha-Ke Bang National Park in Quang Binh to explore the cave’s waterways.

During the groundbreaking dive, they discovered a new underwater tunnel that connects Son Doong (meaning “Mountain River Cave”) with another enormous cave called Hang Thung.

Son Doong currently measures a total of 38.5 million cu.m. When it’s officially connected with Thung Cave, it will add an additional 1.6 million cu.m in volume.

“It would be like someone found a lump on top of Mount Everest, making it another 1,000 m higher,” according to Howard Limbert, technical advisor of the Quang Binh-based Oxalis adventure tour company.

He told CNN Travel that any cave in the world will be able to fit comfortably inside Son Doong when it’s connected.

“It’s just outrageous in size,” he said.

Oxalis, the only company licensed to bring travellers into Son Doong Cave, invited the British divers who aided in the rescue of the trapped football team in Thailand in 2018 to visit the cave following the rescue expedition.

“The divers did an amazing job rescuing the children in Thailand. We invited them on a trip to Son Doong to thank them for their great effort,” Limbert said.

“They wanted to do something interesting during the trip, so we came up with this idea of diving Son Doong, which had never been done before.”

Limbert said the Oxalis team already knew that the water from Son Doong joined Thung Cave, through dye-testing, but no human has ever gone into these subterranean rivers.

“When the divers reached 78 m, they plumbed the depths below using a line and a lead weight. Hence, they believe the offshoot reaches a depth of 120 m and continues for about 1 km,” he explained.

The team wasn’t expecting the tunnels to be so deep, because the other caves in the area are quite shallow.

“Now that we know how deep it is, we’ll bring the special gases with us next time to enable long, deep dives,” Limbert told CNN Travel.

The divers plan to return again in April next year, which is the best time of year to dive, as water levels are relatively low and visibility is better than usual.

“I think it’s incredible that something as important as the world’s largest cave is still being explored and better understood,” said Limbert.

“No one had ever set foot inside Son Doong until 2009 and this latest discovery shows there are still an awful lot of things to uncover on this planet. It’s really exciting,” he added.

One of the world’s most precious natural wonders, Son Doong was inadvertently discovered by Vietnamese resident Ho Khanh in 1990.

“While hunting in the jungle, Khanh came across the opening. He felt a blast of wind and heard the rush of a river inside… But after he left, he couldn’t find it again because it’s surrounded by foliage,” said Limbert, who was part of the British Cave Research Association (BCRA) team that first set foot inside Son Doong.

“Khanh spent many, many years trying to rediscover the mouth of this cave and, finally, in 2009, he led us there. We realised right away that it was major.”

After the BCRA explored and measured the cave, they proclaimed it the largest in the world in 2010 – so big that a New York City block with 40-storey skyscrapers could be fit inside it, according to Oxalis’s estimations.

Within the immense limestone cavern, there are various microclimates and diverse scenery, including two jungles where sunlight streams in.

“So far we’ve only explored about 30 percent of Phong Nha-Ke Bang National Park, so there’s a lot more to be discovered,” said Limbert.

Source: VNA

VND currency hits new low against USD

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Commercial banks are selling USD for nearly VND23,500, a historical peak, with rates rising steadily since last week.
On Monday morning, the State Bank of Vietnam (SBV) raised the reference price for $1 to VND23,069, an increase of VND15 from the previous day, up VND73 from one month ago.

This represented a VND244 rise since the beginning of the year, or a 1.06 percent increase.

Commercial banks were quick to follow. Vietcombank raised its buy price to VND23,365 and selling price to VND23,485, up VND25 from the end of last week and surpassing the bank’s last peak in early May.

The difference between buying and selling prices was kept at VND120 per dollar.

VietinBank used the same rates for the greenback this morning. Eximbank, Techcombank and Sacombank lowered their buy-sell rates to VND23,470-23,480.

On the free market, prices have risen by around VN20-30 since the end of last week, from VND23,430 to VND23,450 on average.

In its recent report, the analytics division of securities firm Saigon Securities Incorporation, SSI Research, said that the U.S.’s first quarter GDP growth of 3.2 percent, exceeding forecasts, has caused the dollar to rise sharply.

The U.S. Dollar Index (DXY), which measures the strength of the greenback against a basket of other currencies, passed the 98 mark (98.02 points) this morning, and is approaching its 2019 high of 98.2 points on April 25.

“International developments, along with the sudden narrowing of the VND-dollar interest rate gap on the interbank market had a strong impact on market sentiment, causing the USD/VND exchange rate to rise for both banks and the free market,” SSI Research said.

In last week’s report, securities firm Bao Viet Securities (BVSC) had said that strong and unpredictable movements in the foreign exchange market were the result of escalating trade tensions between the U.S. and China.

“The SBV will continue to slightly depreciate the dong to create room for sudden changes in the global market,” it said.

BVSC also said that the USD/VND exchange rate is likely to fluctuate in the range of 2 percent this year, a band authorities have allowed in previous years.

Source: Vnexpress

Nanotechnology reduces odour on Tô Lịch River

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A Japanese cleaning nano-technology has helped reduce the bad smell from the polluted Tô Lịch River in Hà Nội, according to online newspaper toquoc.vn.vn.

People living near the section that was experimentally treated by the technology said the odour had diminished greatly despite the extremely hot weather.

Nguyễn Tiến Lập, a resident in Cầu Giấy District, said: “For years, the river section in my area was terribly polluted with a bad smell, especially in hot weather. I closely monitored the section after the filter equipment was dropped in the water, and I think it’s now less smelly and cleaner.”

Last week, Hà Nội authorities launched the project to clean the section of the capital’s infamously polluted Tô Lịch River.

The Japanese cleaning equipment was used on the most polluted section of the river located near Hoàng Quốc Việt Street in Cầu Giấy District.

Called the Nano Bioreactor, the equipment was placed on the bed of a 300-metre section of the river.

The device creates and diffuses nano-gas streams into the surrounding water to stimulate microorganisms, which helps to release oxygen and decompose the mud in the riverbed, making the water cleaner.

Nano-bioreactor technology has also been used in West Lake, the largest of Hà Nội’s lakes.

Source: Vietnamnews

Thanh Hoa coast drowned in rubbish

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The coastal path in Hau Loc District is the most polluted area in Thanh Hoa Province as it has become an illegal dumping site.

Among Nga Son, Quang Xuong and Hau Loc districts, where fishing activities are common, Hau Loc is the most polluted. Plastic bottles, plastic bags and household rubbish cover the nearly 4-km path from Hai Loc to Da Loc commune.

The rubbish dump can be easily spotted in dense residential areas such as Diem Pho Market. Even the sea water in these areas also has a black colour. The rubbish at Diem Pho Market is often dumped onto the embankment then swept into the sea.

The dumping area is only hundreds of metres away from the residential area. In Thang Loc Village, the foul smell from the rubbish and the smell from the sea make it unbearable for many people in the summer.

“We have to pay VND10,000 per person per month for the environmental team to deal the rubbish. However, they can’t collect all of it so the rest was dumped near the sea. There are a total of 400 fishing boats and many near-shore fishing vessels threw rubbish into the sea after the market closed,” said a fisherman.

Nguyen Van Ngu, chairman of Ngu Loc Commune, said they had over 3,300 households with 18,000 people but there were only 37 hectares of land. 80% of their residents are fishermen. About 12 tonnes of rubbish is dumped in Ngu Loc Commune each day including plastic waste and metal waste that is hard to decompose.

The waste treatment costs in Hau Loc District are higher than other districts because it doesn’t have a dumping site or waste treatment plant. The rubbish has to be brought to a plant which is tens of kilometres away.

In order to prevent littering, Hau Loc authorities asked the provincial authorities to quickly build a local dumping site and waste treatment plant. They also asked the fishermen to have at least one rubbish bin on their boats and the local people to sort the rubbish at home.

Source: Dtinews

10 days of downpours to soak Ho Chi Minh City after sustained heat: forecast

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Thunderstorms and heavy downpours are in the forecast in Ho Chi Minh City and its vicinity for the next ten days as convection clouds have formed over the southern metropolis, weather forecasters said on Monday.

Nonstop rains will bring the highest temperatures in Ho Chi Minh City down to under 33 degrees Celsius this week after a period of extreme heat, according the Hydrological Forecasting Station for the Southern Region.

Residents in southern provinces such as Binh Duong, Binh Phuoc, Tay Ninh, An Giang, Dong Thap, Long An, Tra Vinh and Ben Tre are told to brace for thunderstorms, whirlwinds and gales.

Heavy rains are also in the forecast in the northern and north-central regions of Vietnam from Monday morning to Tuesday evening due to the effects of continental cold high pressure advancing from the north.

A heatwave that began on Thursday in northern and central Vietnam reached its peak on Saturday and Sunday, raising temperatures to up to 41 degrees Celsius, the National Center for Hydro-Meteorological Forecasting reported.

The heatwave has been exacerbated by high humidity and lack of wind, said Hoang Phuc Lam, deputy director of the weather center.

In Ho Chi Minh City, blistering heat has baked residents since the end of March, with some occasional rains to cool down the city over the past few weeks.

Temperatures remained above 35 degrees Celsius for most of April and early May, while real feel and heat on the surface of roads could be three to four degrees higher.

The extreme heat caused delivery services and sales of air-conditioners in the southern metropolis to flourish while sending residents’ power bills through the roof.

Source: Tuoitrenews

 

Family tours has increased during summer holidays

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Demand for summer family tours from May to August has increased, according to tour agents in HCM City.

Ngoc Vinh, a local in District 2, said on May 16 that she was planning a family tour this summer to Phan Thiet, Binh Thuan or Vung Tau City. Her eldest daughter has completed her exams at school so Vinh wants to explore somewhere new with her husband, two children and parents.

Group and family tours have become a new trend this summer with two and three generations of a family go on tours together. Nguyen Minh Man, head of the communication department of Tourist TST, said the number of customers was expected to increase by 15-25% compared to last year.

According to Saigontourist, customers often want to go somewhere with beaches and entertainment area like Nha Trang, Phu Quoc and Danang. Some parents want their children to know more about the rural areas so they booked tours to experience farm work in the Mekong Delta.

Tour firms also released packages that target children. Saigontourist said they Fun Children Summer campaign for the Children’s Day on June 1. Children can go to a waterpark while the adults will be able to experience steam and mineral baths.

Vietravel released four packages this summer also aimed at children. There will be picnics to help children understand more about the nature and cultures of the areas they visit. There is a tour to Vinpearl Land and Vinpearl Safari in Phu Quoc or a new tour to Singapore.

Services need to be increasingly diverse to be able to meet the demands of different generations with different interests while prices must remain reasonable.

Tran Thi Bao Thu from Fiditour said they had special programmes for tour groups with more than 10 members. Prices this year have not increased compared to the same period last year. Many firms offer discount programmes to attract customers.

According to a report on NLD

 

Hanoi continues spending more than US$4 million on CNN to promote tourism

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The next 5 years’ promotion programs will present Hanoi as a new destination of sport, Vietnam’s gateway to tourism.

On May 20, Hanoi signed a cooperation with cable television CNN to promote the capital in the period 2019-2024.

Therefore, each year the promotion program has its own theme: 2019 – “Hanoi open with you”; 2020 – “Hanoi: ready to depart”; 2021 – “Hanoi: more like a tourist destination”; 2022 – “Hanoi: Creative Center”; 2023-2024 – “Hanoi: a leading mindset”. VNExpress, a local media reports.

The promotional budget from 2019 to 2023 is USD 800,000 per year, and in 2024 only 200,000 USD.

Product through CNN Production in the next 5 years will include advertising films of 30-60 seconds, including films promoting F1 racing in Hanoi and introducing 2021 SEA games.

In addition, the US There. TV channel also produces 30 minutes of programs such as: Keepers, Hanoi, SEA Games, Hanoi – Technology City, Hanoi – Future City …

The above content will be broadcasted on many digital, television and social networking platforms. CNN. Broadcasting region includes Asia Pacific, Europe, and Middle East, North America and South Asia.

Before that, Hanoi and CNN Signed a communication cooperation package, from January 1, 2017 to December 31, 2018, worth $ 2 million.

Related: Hanoi spends $2 million to promote tourism, investment on CNN

Evaluating the effectiveness of the communication package about Hanoi, independent consulting firm BDC Continental (UK) said the level of improvement in the science of Hanoi by advertising advertising was 86% in 2017. and 91% in 2018.

n 2018, Hanoi received 26.3 million tourists, an increase of 10% over the same period; International visitors reached more than 6 million, an increase of 21.3%. Number of tourists coming to Hanoi from 4 areas of campaign deployment CNN Are all growing, according to the BDC Continental.

This promotional campaign received the best Tourism Promotion Campaign Award in 2018, in the 8 Asia-Pacific Tourism Promotion Organization (TPO) Forum.

Guided jeep tours visit the tangled alleys and lakeside roads of Old Hanoi. Mark Eveleigh, CNN

Hanoi, the capital of Vietnam, is known for its centuries-old architecture and a rich culture with Southeast Asian, Chinese and French influences. At its heart is the chaotic Old Quarter, where the narrow streets are roughly arranged by trade. There are many little temples, including Bach Ma, honoring a legendary horse, plus Dong Xuan Market, selling household goods and street food.

In 2019, Hanoi ranked 4/25 peak destinations in Asia, and 15/25 top destinations in the world voted by visitors on this page.

The Vam Cong Bridge was officially put into operation in Vietnam’s Mekong Delta

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The long-awaited Vam Cong Bridge in Vietnam’s Mekong Delta was officially put into operation on Sunday morning.

This is the second bridge that crosses the Hau (Back) River, connecting Lap Vo District in Dong Thap Province and Thot Not District in Can Tho City.

The other structure, Can Tho Bridge, links the namesake city with Vinh Long Province.

Following the inauguration chaired by Minister of Transport Nguyen Van The, thousands of local residents lined up to make their first trip across the bridge.

“I arrived here on my bicycle early in the morning and waited until the bridge is officially open. I have been looking forward to this moment,” said Don, a 66-year-old resident from Dong Thap.

Meanwhile, Ngo Thi Thuan, 65, who lives in Can Tho, said she had walked on the bridge at 5:00 am to watch the colors of the sunrise.

“Today is a very special day,” Thuan stated.

According to Minister The, the Vam Cong Bridge is the dream of many people in the Mekong Delta.

Residents previously had to pay a fee and spend 30 minutes on a ferry to cross the river, the official said, adding it now takes them only three to five minutes to travel across the bridge.

The structure plays an essential role as it helps boost connectivity throughout the Mekong Delta, Vo Thanh Thong, chairman of the Can Tho People’s Committee, said, adding that the bridge will also link the region with other localities in the country.

Stretching over 2.97 kilometers, the Vam Cong Bridge is designed with a total of six lanes, four reserved for automobiles and two for motorcycles.

Construction started in September 2013, with investment totaling US$271 million, which was funded by South Korea’s ODA (official development assistance) and corresponding capital from the Vietnamese government.

The construction was first delayed in November 2017 after several fractures were found on the steel girders at the top of several abutments.

The repair work was expected to be finished in 2018 so that the bridge could be put into operation later the same year.

But even the repair faced challenges, forcing contractors to delay its inauguration until this month.

According to a report on Tuoi Tre

High profits lead to stiff competition in credit card market

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Both domestic and foreign banks are offering preferential programmes to lure more credit card holders to compete for a larger market and a piece of the high profits generated by the credit card segment.

Vietnam International Bank (VIB) recently launched its VIB Zero Interest Rate Credit Card, which is free of interest for all card expenses. VIB is the first bank in Viet Nam to waive interest rates for cardholders for five years of their cards’ validity, instead of the typical period of 45 to 60 days.

In addition to waiving interest rates for all card transactions, VIB will also waive transaction fees in the first three months from the card’s activation date.

At HSBC, the Visa Cash Back Card allows cardholders to get back up to 8 per cent of the total they spend at grocery stores and supermarkets with a maximum value of VND200,000 per month.

In addition, cardholders are entitled to unlimited refunds at the rate of 1 per cent for insurance and education expenses and 0.5 per cent for other spendings. Cardholders will have the balance automatically refunded to their card account each month.

According to experts, with more than 70 million adults and the fastest growth in both income and spending in the region, Viet Nam is showing its potential as a lucrative credit card market.

As Viet Nam is a developing country with a burgeoning middle class, a large unbanked population and climbing purchasing power, credit card products have much room for growth, business information provider StoxPlus said.

Though the central bank has not released an updated count of bank cards issued in the country, the number reportedly reached 147.3 million by the end of September last year, up 20 million after only one year.

Credit cards, in particular, showed a very fast growth rate. By the end of Q3 2018, there were 4.6 million credit cards issued in the country with total trading value reaching approximately VND50 trillion, up by 50 per cent over the same period of 2017.

Investing in credit cards has brought large profits for banks because the interest rates of card loans are higher than those of other loans. They can earn stable revenue from annual fees, withdrawal fees and overdue debt penalties.

With such promising sources of revenue, competition in the countries credit card market has become stiffer with the participation of both foreign and domestic banks. Shinhan Bank, for example, has set a goal to become one of the top three credit card issuers in Viet Nam in the next three years.

According to a report on VNS

Vietnamese startup Abivin wins Startup World Cup 2019 Champion

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Vietnamese startup Abivin, which provides AI-powered Supply Chain Optimisation, has been confirmed as the winner of the Startup World Cup 2019 Champion withUS$1 million worth of investment prize.

The Ministry of Science and Technology said that Abivin, the only representative from Vietnam, surpassed candidates from more than 40 countries across the world to become the winner of the Startup World Cup 2019 Champion which concluded in San Francisco on May 17.

With the result, Abivin contributes to confirming changes in the quality of innovative startups in Vietnam.

Abivin won the first prize at the Vietnam Innovative Technopreneur Contest held in December 2018 and became a representative of Vietnam to attend the Startup World Cup 2019 Champion.

Abivin is trained and matured by the Finland – Vietnam Innovation Partnership Programme Phase 2 (IPP2) and operated by the Ministry of Science and Technology.

Founder of Abivin, Pham Nam Long, said that Abivin intends to use the investment to continue to boost R&D for its AI-powered logistics optimisation solutions in addition to expanding its markets outside Hanoi and Ho Chi Minh City and entering the foreign markets of Myanmar, Singapore, Thailand, Indonesia and others.

The Startup World Cup is organised by Fenox Venture Capital, a Silicon Valley-based global venture capital firm.

According to a report on Nhan Dan

What’s behind the rise in Vietnam’s credit card market?

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Both local and foreign banks in Vietnam are offering preferential program to acquire more credit card holders to compete for a larger market and a piece of the high profits generated by the credit card segment.

The Vietnam International Bank (VIB) recently launched its VIB Zero Interest Rate Credit Card, which is free of interest for all card expenses. In Vietnam, VIB is the first and only bank to waive interest rates for cardholders for five years of their cards’ validity, instead of the typical period of 45 to 60 days.

In addition to waiving interest rates for all card transactions, VIB will also waive transaction fees in the first three months since the card’s activation date. VNS reports.

VIB Credit Card leads e-commerce transactions in Vietnam. Source: VIB

So far, VIB has launched 6 new credit cards since December 2018 and has been well received by the market. For example, Happy Drive – the only credit card in the market offering up to 500 litres of gasoline per year and cashback 30 percent on car maintenance fee; VIB Financial Free – the 1st credit card with free annual fee and withdrawal up to 100% card limit. Or other credit cards with outstanding benefits such as VIB Cash Back, VIB Rewards Unlimited, VIB Travel Elite with the best refund, reward points, miles and currency exchange transaction fee.

At HSBC, the Visa Cash Back Card allows cardholders to get back up to 8 per cent of the total they spend at grocery stores and supermarkets with a maximum value of US$ 8.5 (VND200,000) per month. In addition, cardholders are entitled to unlimited refunds at the rate of 1 per cent for insurance and education expenses and 0.5 per cent for other spendings. Cardholders will have the balance automatically refunded to their card account each month.

According to experts, with more than 70 million adults and the fastest growth in both income and spending in the region, Việt Nam is showing its potential as a lucrative credit card market.

As Vietnam is a developing country with a burgeoning middle class, a large unbanked population and climbing purchasing power, credit card products have much room for growth, business information provider StoxPlus said.

Though the central bank has not released an updated count of bank cards issued in the country, the number reportedly reached 147.3 million by the end of September last year, up 20 million after only one year. Credit cards, in particular, showed a very fast growth rate. By the end of Q3 2018, there were 4.6 million credit cards issued in the country with total trading value reaching approximately VND50 trillion, up by 50 per cent over the same period of 2017.

Investing in credit cards has brought large profits for banks because the interest rates of card loans are higher than those of other loans. They can earn stable revenue from annual fees, withdrawal fees and overdue debt penalties.With such promising sources of revenue, competition in the countries credit card market has become stiffer with the participation of both foreign and domestic banks. Shinhan Bank, for example, has set a goal to become one of the top three credit card issuers in Vietnam in the next three years.

World’s biggest cave in Vietnam is even bigger than we thought

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(CNN) — Thanks to discoveries made during a recent expedition in Vietnam, it appears the world’s largest cave, Son Doong, is even bigger than previously thought.

Last month, a trio of British divers — the same divers who aided in the rescue of the trapped soccer team in Thailand in 2018 — ventured to Phong Nha-Ke Bang National Park, in the jungle-filled Quang Binh Province of central Vietnam, to explore the cave’s waterways.

During the groundbreaking dive, they discovered a new underwater tunnel that connects Son Doong (meaning “Mountain River Cave”) with another enormous cave called Hang Thung.

Son Doong currently measures a total of 38.5 million cubic meters (about 1.35 billion cubic feet). When it’s officially connected with Thung Cave, it will add an additional 1.6 million cubic meters in volume.

“It would be like someone found a lump on top of Mount Everest, making it another 1,000 meters higher,” says Howard Limbert, technical advisor of the Quang Binh-based Oxalis adventure tour company and one of the cave experts who helped organize the dive.

He tells CNN Travel, “Any cave in the world will be able to fit comfortably inside Song Dong when it’s connected — it’s just outrageous in size.”

Diving in Son Doong

British divers Jason Mallinson, Rick Stanton and Chris Jewell — who helped rescue the trapped soccer team in Thailand in 2018 — recently dived in Vietnam’s Son Doon Cave.
courtesy Oxalis Adventure

Oxalis, which is the only company licensed to bring travelers into Son Doong Cave, invited the British divers — Jason Mallinson, Rick Stanton and Chris Jewell — to visit the cave following the Thai rescue expedition.

“The divers did an amazing job rescuing the children in Thailand. We invited them on a trip to Son Doong to thank them for their great effort,” says Limbert.

“They wanted to do something interesting during the trip, so we came up with this idea of diving Son Doong, which had never been done before.”

Limbert says that the Oxalis team already knew that the water from Son Doong joined Thung Cave, through dye-testing, but no human has ever gone into these subterranean rivers.

During the mission, divers were able to reach a depth of about 78 meters while diving on air (oxygen and nitrogen) before turning around.

“When the divers reached 78 meters, they plumbed the depth below using a line and a lead weight. Hence, they believe the offshoot reaches a depth of 120 meters and continues for about 1 kilometer,” explains Limbert.

The team wasn’t expecting the tunnels to be so deep, because the other caves in the area are quite shallow.

“Now that we know how deep it is, we’ll bring the special gases [oxygen-helium mixture] with us next time to enable long, deep dives,” adds Limbert.

The divers plan to return in April again next year. This is the best time of year to dive, because water levels are relatively low, and visibility is better than usual — though still only about one to two meters.

“I think it’s incredible that something as important as the world’s largest cave is still being explored and better understood,” says Limbert.

“No one had ever set foot inside Son Doong until 2009 … and this latest discovery shows there are still an awful lot of things to uncover on this planet. It’s really exciting.”

Uncovering the cave

Phong Nha-Ke Bang National Park: Vietnam’s Phong Nha-Ke Bang National Park is home to the world’s largest cave — a place few people have visited. Click through the gallery to see more images of this amazing underground world. This image shows how collapses caused by erosion leave openings through which incredible sunbeams penetrate, creating mesmerizing light shows. @ Jarryd Salem/CNN
Stargazing: From the second campsite inside Hang Son Doong visitors can stare out of an erosion hole (these are known as “dolines”) and catch stars glistening on a clear night. @ Jarryd Salem/CNN

 

Porter Trail: A strong crew of 20 porters, three guides, two caving experts, two chefs and two national park rangers assist on every expedition to Hang Son Doong. Just like the sherpas of Nepal it’s the porters of Phong Nha who are the unsung heroes that make the adventure possible. @Alesha Bradford
Abseiling into darkness: Sections of Hang Son Doong are so steep and perilous that ropes are required to help lower people safely through them. @ Jarryd Salem/CNN
Hang En exit: The enormous exit of Hang En, the third largest cave in the world, is more than 120-meter high and 140-meter wide. @ Jarryd Salem/CNN
Doline 2 Campsite: The climb down from a section known as the “Garden of Edam” leads to the second campsite in Hang Son Doong. @ Alesha Bradford

 

Fancy footwear: While most people who take the five-day expedition to Hang Son Doong invest in high quality equipment and clothing, the porters and guides of Phong Nha prefer to do the trek in pairs of plastic sandals that are bought in the local market for $2.@ Alesha Bradford
End of Son Doong: Limestone formations such as stalagmites and stalactites are formed when water containing dissolved calcium carbonate drips through the cave’s ceiling and creates minuscule rings. Over millions of years, these tiny minerals grow in a collection of striking and often beautiful shapes. @ Jarryd Salem/CNN
Rao Thuong River: The Rao Thuong River flows fast through the Son Doong cave system, continuously carving new chambers and passages. During the wet season the river floods to dizzying levels, halting any chance of exploration through the caves or jungle.@ Jarryd Salem/CNN
Hang En campsite: The first and last nights of the expedition are spent camping inside Hang En, which is considered to be one of the most spectacular campsites in all of Asia. @ Alesha Bradford
Arm wrestling: Entertainment comes in many forms when you spend days on end inside a cave. Card games are popular, as is singing songs and drinking potent, locally brewed rice wine. The Vietnamese porters take pride in their strength and agility and are constantly challenging each other to show off their skills. @ Alesha Bradford
Cave pearls: Not all of the magnificent formations that can be found in Hang Son Doong are massive. Towards the end of the chambers rare, spherical “cave pearls” are also found. These are formed when tiny pieces of sediment collect calcium salt layers over thousands of years. @ Jarryd Salem/CNN
Entering the jungle: Hang Son Doong is so massive that it contains its own jungle, underground river and localized weather system. Clouds form inside the cave and spew out from the exits and dolines, which gave the first explorers a clue as to how large Hang Son Doong really is. @ Alesha Bradford
Narrow Hang En: A narrow passageway connects the two sections of Hang En. @ Jarryd Salem/CNN
Ban Doong elders: There is only one village inside the Phong Nha-Ke Bang National Park, known as Ban Doong. Around 40 Bru-Van Kieu ethnic minority people live in this isolated location, which can only be reached by foot. The two elders of the village happily welcome trekkers who must pass through their humble home to reach Hang E and Hang Son Doong. @ Alesha Bradford

One of the world’s most precious natural wonders, Son Doong was inadvertently discovered by Vietnam resident Ho Khanh in 1990.

“While hunting in the jungle, Khanh came across the opening. He felt a blast of wind and heard the rush of a river inside… But after he left, he couldn’t find it again, because it’s surrounded by foliage,” says Limbert, who was part of the British Cave Research Association (BCRA) team that first set foot inside Son Doong.

“Khanh spent many, many years trying to rediscover the mouth of this cave and, finally, in 2009, he led us there. We realized right away that it was major.”

After the BCRA explored and measured the cave, they proclaimed it the largest in the world in 2010 — so big that you could fit a New York City block with 40-story skyscrapers inside it, according to Oxalis’s estimations.

Within the immense limestone cavern, there are various microclimates and diverse scenery including two jungles, made possible by dolines — openings created by collapsed ceilings — where sunlight streams in.

“So far we’ve only explored about 30% of Phong Nha-Ke Bang National Park, so there’s a lot more to be discovered,” says Limbert.

See it for yourself

Hang Son Doong in Vietnam is the largest known cave in the world. Photographer Ryan Deboodt took a drone inside to capture this spectacular footage.

Opened to tourists in 2013, the three-million-year-old river cave is easily one of the most beautiful places on Earth.

“People love it because they’ve never done anything like it before,” says Limbert. “Obviously, you have amazing stalactites and the world’s largest stalagmites (up to 80 meters high). They are so spectacular.”

To explore, travelers must book a guided excursion through Oxalis.

From river crossings to jungle treks and a harnessed ascent up the 80-meter-high “Great Wall of Vietnam” to nightly campsites, the four-day experience traverses 25 kilometers (about 15.5 miles) of jungle trails and nine kilometers inside the caves.

“This is definitely not just a stroll. There are lots of river crossings, superb jungles, mountains and cliffs all around, plus lots of wildlife … like birds and monkeys that are endemic to this area,” says Limbert. “A lot of people find the scenery as spectacular as the cave itself.”

It’s certainly physically challenging, but Limbert says the trek is accessible to anyone who is reasonably fit and doesn’t mind getting muddy. And you will get muddy.

Into the wild

During the mission, divers were able to reach a depth of about 78 meters while diving on air (oxygen and nitrogen).
courtesy Oxalis Adventure

The first 1.5 days are spent trekking through Hang En Cave — the third-largest cave in the world — to reach ultra-remote Son Doong. The next few days are spent exploring the otherworldly landscapes of this remarkable cave, sleeping at a different campsite each night.

Among the many highlights of the trip, Limbert says there’s one experience in particular that everyone goes “wild about.”

“There’s a passage that has beautiful, 400-million-year-old fossils. We take travelers to see these fossils and, once you’re down there in the dark, there’s a place where you can go swimming,” says Limbert.

“Everyone loves the experience of swimming in the dark in the cave — it’s a really unusual experience.”

Available from January to August, the US$2,990 tours are limited to just 10 people at a time, with a maximum of 1,000 travelers each year. Accompanying each group is a 27-person strong support team, including porters, cooks, safety assistance, BCRA-trained guides and caving experts.

“At this point, more people have climbed Mount Everest than have gone into Son Doong,” says Limbert. “And even those who have summited Everest say that exploring Son Doong is outrageous — that it’s the best place they’ve ever been in their life.”

Reporting by Kate Springer, CNN

Vietnam Asset Management Company announced its plan for 2019

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This year, the Vietnam Asset Management Company (VAMC) aims to issue VND20,000bn of special bonds, buy non-performing loan (NPL, bad debts) at the market price of VND4,500bn and recover VND50,000bn of bad debts. In order to ensure sufficient capital to promote debt purchase at market value, VAMC want to grant enough charter capital of VND5,000bn according to the plan approved by the Prime Minister.

In 2018, VAMC purchased 761 debts of 13 credit institutions with the total original balance of VND30,917bn. The debt purchase price was VND29,812bn, which achieved 93.2% of the special bond volume under the SBV’s approved plan in 2018.

As of December 31, 2018, VAMC has bought NPLs by special bonds with total internal debt balance of VND338,849bn, debt buying price is VND307,567bn.

Implementing the National Assembly’s Resolution No. 42 on piloting bad debt handling and the instructions of the State Bank in 2018, VAMC has bought NPLs at the market value of 40 debts with a total purchase price of 2,818.7VNDbn, contributing to handling over VND5,200bn of bad debt to credit institutions, increasing VND1,684bn compared to 2017, reached 80.5% of the plan approved by the SBV.

The total amount of debt recovered by VAMC in 2018 is VND37,512bn. The accumulated amount from 2013 to December 31, 2018 is VND119,000bn. VAMC also sold VND10,925bn of bad debt, VND5,200bn of Collateral in 2018, debt restructuring was VND1,156bn.

- VDSC

Vietnam: Mobile Data Growth To Be Fueled By 4g Network Rollout And Expansion By Operators

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In 2016, Vietnam will generate total telecom service revenue of $6.9bn (or 3.4% of its nominal GDP), a decrease of 0.7% over 2015. However, in local currency, it is expected to grow by 1.6% during the same period, owing to growth primarily in fixed broadband and mobile data revenue.

Mobile data services will be the key revenue-contributing segment, accounting for 36.8% of total service revenue in 2016, due to increasing popularity of OTT services and rising Smartphone adoption coupled with availability of attractive data plans. Operators will focus on 4G network expansion and fiber deployments to improve broadband infrastructure in the country.

Key Findings:
The overall telecom service revenue in Vietnam is estimated to generate $6.9bn in 2016 and is estimated to grow at a CAGR of 4.2% during 2016-2021.
The mobile segment will account for 78.5% of total telecom revenue in 2016.

The Vietnam telecom market will be dominated by Viettel Vietnam and Mobifone. Viettel Vietnam will remain the largest player in the telecom market through 2021, owing to investments in 4G service rollout and expansion coupled with fixed infrastructure improvement.

Synopsis:

Vietnam: Mobile Data Growth to be Fueled by 4G Network Rollout and Expansion by Operators,” a new Country Intelligence Report by GlobalData, provides an executive-level overview of the telecommunications market in Vietnam today, with detailed forecasts of key indicators up to 2021. Published annually, the report provides detailed analysis of the near-term opportunities, competitive dynamics and evolution of demand by service type and technology/platform across the fixed telephony, broadband and mobile sectors, as well as a review of key regulatory trends.

The Country Intelligence Report provides in-depth analysis of the following:

  • Regional context: telecom market size and trends in Vietnam compared with other countries in the region.
    Economic, demographic and political context in Vietnam.
  • The regulatory environment and trends: a review of the regulatory setting and agenda for the next 18-24 months as well as relevant developments pertaining to spectrum licensing, national broadband plans, number portability and more.

A demand profile: analysis as well as historical figures and forecasts of service revenue from the fixed telephony, broadband, mobile voice and mobile data.
Service evolution: a look at changes in the breakdown of overall revenue between the fixed and mobile sectors and between voice and data from 2016 to 2021.

The competitive landscape: an examination of key trends in competition and in the performance, revenue market shares and expected moves of service providers over the next 18-24 months.

In-depth sector analysis of fixed telephony, broadband, mobile voice and mobile data: a quantitative analysis of service adoption trends by network technology and by operator, as well as of average revenue per line/subscription and service revenue through the end of the forecast period.

Main opportunities: this section details the near-term opportunities for operators, vendors and investors in Vietnam’s telecommunication market.

Reasons to Buy:

  • This Country Intelligence Report offers a thorough, forward-looking analysis of Vietnam’s telecommunication market, service providers and key opportunities in a concise format to help executives build proactive and profitable growth strategies.
  • Accompanying GlobalData’s Forecast products, the report examines the assumptions and drivers behind ongoing and upcoming trends in Vietnam’s mobile communications, fixed telephony and broadband markets, including the evolution of service provider market shares.
  • With more than 20 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.

The report provides an easily digestible market assessment for decision-makers built around in-depth information gathered from local market players, which enables executives to quickly get up to speed with the current and emerging trends in Vietnam’s telecommunication market.
The broad perspective of the report coupled with comprehensive, actionable detail will help operators, equipment vendors and other telecom industry players succeed in the challenging telecommunications market in Vietnam.

For more information, refer to Vietnam Telecom Players Market

Contact Ken Research at: Sales@kenresearch.com or +91-9015378249

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