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OpenAI Explores Advertising for Free ChatGPT Version

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OpenAI is reportedly considering introducing ads to the free version of its widely-used ChatGPT chatbot as a way to boost revenue, despite concerns about potentially compromising user experience. Currently, ChatGPT offers both a free, ad-free version and a subscription-based “Plus” plan with enhanced features.

In a recent interview with the Financial Times, OpenAI’s Chief Financial Officer, Sarah Friar, acknowledged the possibility of incorporating advertisements into the free version. While recognizing this as a viable revenue stream, she highlighted the company’s reservations, particularly given the high costs of maintaining AI server infrastructure. OpenAI, valued at over $150 billion, is estimated to have spent $5 billion this year alone on developing and training its AI models.

The consideration of ads aligns with broader efforts to sustain free services. OpenAI has already recruited advertising experts from companies like Meta and Google, hinting at plans for monetization. However, Friar emphasized that any implementation would require careful timing and strategy, suggesting that ads are unlikely to appear in the near future. CEO Sam Altman, who previously expressed strong aversion to ads, reportedly views this option as a “last resort.”

Currently, OpenAI offers its subscription service, ChatGPT Plus, for $20 per month, providing access to advanced AI models, increased messaging limits, and image generation capabilities. The company has also launched tailored plans for teams and businesses.

Earlier this year, OpenAI partnered with Apple to integrate ChatGPT into Siri, with the feature expected to debut in iOS 18.2. While Apple did not pay for the integration, it will actively promote ChatGPT Plus through the iOS Settings app. This collaboration aims to drive subscriptions when the update rolls out to iPhone and iPad users globally.

Unlock Growth Opportunities in Vietnam with GBS’s Capital Raising Services

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In the fast-paced world of business, access to the right capital at the right time is essential to drive growth, sustain success, and achieve transformative milestones. GBS | Global Business Services LLC specializes in delivering customized capital solutions tailored to your business’s unique goals and challenges.

With over $1 billion raised for our clients across diverse industries and circumstances, GBS is a trusted partner for businesses seeking to secure funding for growth, recapitalization, shareholder liquidity, and acquisitions.

Here’s how GBS can help take your business to the next level:

Raising Growth Capital: Fuel Your Ambitions

Every business dreams of scaling new heights, but growth often requires significant investment. Whether it’s funding a $20 million expansion, launching a new product globally, acquiring another company, or scaling operations, GBS provides access to a network of investors and lenders aligned with your goals.

From smaller funds investing $10 million in high-growth ventures to global funds writing $50 million equity checks, our team finds the ideal capital partner who brings more than just money – they bring strategic alignment, industry expertise, and shared vision.

GBS goes beyond simply securing funding. By creating interest among multiple investors, it ensures you get the best pricing, terms, and timing. Its goal is to secure the right growth capital so you can capitalize on every opportunity and achieve your vision.

Recapitalization: Transform Your Business

As businesses evolve, so do their financial structures. Whether it’s due to outgrowing current lenders, shareholder preferences, or planning for succession, GBS helps companies restructure their capital to align with their changing needs.

Our strong relationships with private equity firms, mezzanine providers, institutional investors, and banks enable us to offer targeted recapitalization solutions, whether through equity or debt. With experience in leveraged equity recapitalizations ranging from $10 million to $100 million, it helps businesses secure fresh funding and position themselves for future growth.

Acquisition Financing: Power Your Next Move

Acquisitions are a strategic way to grow market share and expand capabilities, but they often require significant funding. GBS specializes in acquisition financing, helping you secure the equity and debt you need to execute your strategy.

GBS guides you through every step of the process – from analyzing market conditions and weighing financing options to structuring the deal and accessing our network of banks, mezzanine lenders, and private equity funds. Our expertise ensures that you not only secure the necessary capital but also negotiate the best terms for your business.

Why Choose GBS?

GBS is more than just financial advisors – it can be your strategic partners. Its proven expertise, extensive network, and personalized approach allow us to connect businesses with capital partners who share their vision and values.

GBS believes the right capital partner offers more than funding – they bring knowledge, insight, and alignment to help businesses achieve sustainable growth. Whether you’re looking to raise growth capital, recapitalize, or finance an acquisition, GBS delivers results that drive success.

Ready to Unlock Your Business’s Potential?

The right funding can transform your business. With GBS by your side, you gain access to a team dedicated to finding the perfect financial solution for your needs.

Contact GBS today to explore how its capital-raising services can help your business grow, adapt, and succeed in a competitive market. Let GBS help you achieve your vision for the future.

Spring Flower Market “On the Wharf, Under the Boat” 2025 to Take Place from January 14 to 28

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The highlight of this event is the flower market along the Tau Hu Canal, vividly recreating the traditional Tet atmosphere of the southern river region of Vietnam.

Images of boats laden with apricot blossoms, yellow daisies, and marigolds not only evoke the festive spirit of spring but also symbolize the vibrant, bustling life of traditional Tet markets. The flower market along the Tau Hu Canal will begin operations on January 14, with the official opening ceremony of the “On the Wharf, Under the Boat” Spring Flower Market taking place at 7:00 PM on January 24, 2025. The ceremony will feature unique and captivating artistic performances.

According to the organizers, this year’s Spring Flower Market will host 689 business stalls, including 634 flower and ornamental plant stalls and 55 fruit and vegetable stalls, promising to meet the shopping and sightseeing needs of locals and tourists. Additionally, the event will feature spring-themed displays and cultural highlights, such as the Dalat Flower Space with the theme “Dalat – A Symphony of Colors” and the Vinh Long Intangible Heritage Path.

Perspective of the spring flower street of At Ty

At the Binh Dong Old House area, the Sentimental Flower Street will provide a warm and emotional setting. Meanwhile, Mr. Do Street will showcase exquisite calligraphy works to celebrate the new year. Pedestrian Bridge No. 7 will be adorned with dazzling artistic lights, including floating lotus-shaped lanterns on the Tau Hu Canal.

Beyond these activities, the Spring Flower Market will also feature an exhibition area for regional specialties and OCOP (One Commune, One Product) goods from provinces such as Binh Phuoc, Binh Thuan, Ninh Thuan, Dong Thap, Vinh Long, Ben Tre, and Dalat. This space will showcase specialty foods, handicrafts, and high-quality agricultural products, reflecting the rich cultural identity of each region.

Illustration of traditional music performance on Tau Hu canal

Following the opening ceremony, which lasts until late January 27, 2025, Don Ca Tai Tu performances (Southern traditional music) will be held by artists aboard traditional boats sailing along the Tau Hu Canal. The main stage will host diverse artistic programs blending folk, ethnic, and modern music to cater to audiences of all ages.

Additionally, visitors can participate in making and cooking banh tet (Vietnamese cylindrical glutinous rice cake) and savor regional specialties, from the rich flavors of Northern Vietnam to the refined cuisine of Central Vietnam and the rustic yet diverse dishes of Southern Vietnam.

@vtv.vn

Ben Thanh Market and Tran Hung Dao Temple Recognized as City-Level Heritage Sites

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The People’s Committee of Ho Chi Minh City has officially designated the architectural heritage of Ben Thanh Market and Tran Hung Dao Temple in District 1 as city-level heritage sites.

According to the Government’s electronic newspaper, Ben Thanh Market is one of Ho Chi Minh City’s iconic landmarks, with a history closely tied to the Saigon – Cho Lon urban area.

Construction of the market began in 1912. Initially, it was located along the Ben Nghe River, where a dock allowed soldiers and locals to access Gia Dinh Citadel (Quy Citadel, Bat Quai Citadel). This location inspired the name “Ben Thanh Market.”

In the early 20th century, the French rebuilt the market at its current location between 1912 and 1914, featuring the iconic clock tower at the South Gate.

A corner of Ben Thanh market. Photo: Minh Hoang

The Tran Hung Dao Temple, built in 1932, is one of Ho Chi Minh City’s sacred spiritual sites. It was originally constructed within the large grounds of the old Van An Pagoda. By 1957, the temple underwent a significant expansion and has since been renovated multiple times. Located on Vo Thi Sau Street in District 1, the temple includes a central main gate and two smaller side gates.

In addition to these two landmarks, the People’s Committee also recognized three other sites as city-level heritage sites:

The architectural heritage of District 1’s Administrative Office Building (45-47 Le Duan Street, District 1): Built in 1876, this building is among the few early constructions that remain in downtown Ho Chi Minh City.
The architectural heritage of Ho Chi Minh City Customs Department Headquarters (2 Ham Nghi Street and 21 Ton Duc Thang Street, District 1): This building was designed by a renowned French architect and constructed between 1885 and 1887.
The architectural heritage of the Tomb of Mr. Tran, Binh Bo Kiem Duyet Ty, and Thua Vu Lang (Ward 11, District 3): This site has also been recognized in the city’s latest heritage designation.

@SGtiepthi

Additional 5,000 Train Tickets Available for Lunar New Year 2025

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According to the Railway Transport Corporation (Vietnam Railways – VNR), the company will operate 11 additional train services between Saigon, Quang Ngai, and Hanoi, providing 5,000 more seats for the Lunar New Year (Tet) holiday.

Passengers take the train. Photo: Le Anh

From Saigon Station to Hanoi Station, additional trains will operate as follows: SE12 on January 17-18; TN6 on January 18-19; SE24 on January 17. From Hanoi Station to Saigon Station, additional trains include SE11 on January 18-19; TN5 on January 20-21; and SE23 on February 15. From Saigon to Quang Ngai, an extra SE26 train will run on January 19, 2025.

For regional train services, the Hanoi-Vinh (Nghe An) route will offer tickets for NA1/NA2 trains from January 1 to February 16, 2025. The Hanoi-Lao Cai route will maintain regular SP3/SP4 and SP7/SP8 train services from January 1 to February 28, 2025.

According to Vietnam Railways, as of December 3, over 137,000 tickets for Tet (Lunar New Year) 2025 have been sold. This represents 45% of the revenue achieved for Tet 2024. Online purchases accounted for 58% of total ticket sales.

Currently, tickets for pre-Tet travel—on dates before January 21, as well as January 27-28, 2025 (equivalent to the 22nd day of the 12th lunar month and earlier, plus the 28th and 29th days of the 12th lunar month) —are still available at various stations. From January 22 to 26, 2025 (23rd to 27th days of the 12th lunar month), tickets remain abundant on routes to Phan Thiet (Binh Thuan) and Nha Trang (Khanh Hoa).

Post-Tet travel, from January 29 to February 16, 2025 (1st to 19th days of the 1st lunar month), also has ample ticket availability across all dates and destinations.

Currently, Vietnam Railways is offering numerous discounts for train passengers, including reduced fares for social policy groups, union members, and customer loyalty cardholders. A 3% discount applies to tickets for trains departing from Saigon Station on January 27, 2025 (28th day of the 12th lunar month) for journeys of 1,000 km or more. Return ticket purchases receive a 5% discount on the return leg, while students enjoy discounts ranging from 10% to 20%, depending on the travel date.

To ensure convenience when purchasing and traveling during Tet 2025, customers are advised to buy tickets via official channels such as http://www.dsvn.vn, http://www.vetau.com.vn, http://www.vetauonline.vn, directly at train stations, ticket offices, authorized agents, or through electronic wallet applications like Momo, VnPay, ZaloPay, and ViettelPay. Tickets can also be purchased via hotlines at train stations.

To verify train tickets, passengers can visit http://www.dsvn.vn, go to the “Check Tickets” section, enter the required details, and click “Check Ticket.” If the system displays “Your e-ticket is valid,” passengers can use the ticket to board the train. If “No valid e-ticket found” appears, passengers should contact the station or the hotlines at 1900 0109 (Hanoi Station) or 1900 1520 (Saigon Station) for assistance.

@Thesaigontimes

Visitors Offered Free Electric Shuttle Rides During Dalat Flower Festival

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Residents and visitors to Dalat City (Lam Dong Province) during and after the opening day of the 10th Dalat Flower Festival in 2024 will enjoy free electric shuttle rides around Xuan Huong Lake.

On December 4, the Lam Dong Department of Transport announced that it had collaborated with electric vehicle operators in the area to provide free shuttle services for visitors around Xuan Huong Lake during the 10th Dalat Flower Festival.

Tourists will be taken by free electric car around Xuan Huong Lake during the Flower Festival (December 5 and 6).

Specifically, free electric shuttle services will operate from 8:00 AM to 9:00 PM on December 5 and 6 (the opening day and the day after the opening). The fleet consists of 30 electric vehicles provided by Dalat City Tour Co., Ltd., and Tinh An Tourism Service Development Investment Co., Ltd.

These vehicles will feature signage reading “VEHICLE FOR DALAT FLOWER FESTIVAL 2024 – FREE SERVICE” for easy identification by visitors.

The tour route includes a loop around the scenic Xuan Huong Lake in Dalat City, with designated stops for passenger pick-up and drop-off at key locations: the beginning of Le Thi Hong Gam Street; the intersection of Tran Quoc Toan and Le Thi Hong Gam Streets; Le Dai Hanh Street; parking areas at the Tran Nhan Tong – Tran Quoc Toan intersection; opposite Lam Vien Square; Tran Quoc Toan Night Market (near the golf course); opposite Dalat Flower Garden; and the Quan The Am Pagoda area.

Xuan Huong Lake, Da Lat City

Earlier, to facilitate the 10th Dalat Flower Festival in 2024, the Lam Dong Provincial People’s Committee approved a restriction on vehicles with more than 29 seats from circulating on Tran Quoc Toan Street (around Xuan Huong Lake) from December 1 until the festival’s conclusion on December 31. The restriction applies daily from 5:00 AM to 9:00 PM.

@Thanhnien.vn

Quang Binh Emerging as a Destination for South Korean Tourists

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This development highlights the efforts of Quang Binh’s tourism sector in connecting with and promoting itself to the South Korean market in recent times.

According to the Quang Binh Department of Tourism, the agency has collaborated with local tourism businesses to welcome the first group of tourists from Chungcheong, South Korea.

During their visit to Quang Binh, the groups will explore iconic attractions such as Phong Nha Cave, Paradise Cave, and the Chay River – Dark Cave area, as well as experience the region’s unique cuisine and hospitality.

Members of the group enjoyed their experience at Quang Phu sand hill (Dong Hoi, Quang Binh)

Mr. Park Sill, a representative of the tourist group from Chungcheong, shared: “This is our first time in Quang Binh. We find the people here incredibly warm and the natural scenery breathtaking. I believe that more and more South Korean tourists will visit Quang Binh in the future.”

From now until the Lunar New Year 2025, through connections made by tourism organizations, over 100 South Korean tourists are expected to visit Quang Binh.

Earlier, in July, the Quang Binh Department of Tourism organized a destination survey program for representatives of major airlines and travel agencies in Chungcheong (South Korea).

Tourism units in Quang Binh welcome groups to stay

Key collaborators included Hana Travel Club, Hana Tour, Ever Tour, Mirea Tourism, New Star, ERO K Airlines, Beomhan Air Travel, and others. These efforts aim to promote Quang Binh, establish connections, and attract more tourists from the South Korean market to the region.

@vtv.vn

E-commerce platform Temu Suspends Services in Vietnam

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On the afternoon of December 4, Znews cited the Ministry of Industry and Trade’s announcement that Temu, the cross-border e-commerce platform, has temporarily ceased providing services in Vietnam. This decision follows a request from the Ministry after working with Temu’s representatives.

According to the Ministry, orders placed on Temu are currently ineligible for customs clearance in Vietnam due to the platform’s lack of proper licensing. Customs authorities will only process import and export goods traded via Temu once it obtains official approval from the Ministry of Industry and Trade.

In terms of consumer protection, the Department of E-commerce and Digital Economy (under the Ministry of Industry and Trade) emphasized its ongoing collaboration with the Competition Commission to ensure cross-border e-commerce platforms comply with their responsibilities toward Vietnamese consumers.

This regulatory action follows the Ministry’s demand for Temu to complete the necessary legal procedures to operate in Vietnam. At the October government press conference, Deputy Minister Nguyen Hoang Long warned that Temu’s application and domain name could be blocked if it failed to register by November.

As of December 4, several users in Vietnam reported undelivered orders placed on Temu since November. The platform has not issued any detailed updates to customers regarding the service suspension or order delays.

Ngoc Ha, a Hanoi-based user, shared her experience of ordering clothes on November 9 but has yet to receive them. The Temu app only shows the order as “being shipped” with a generic delay notice citing force majeure and other conditions.

Two days ago, Ha noted that the Temu app interface had switched to English without prior notice. She also mentioned that friends had received notifications suggesting their packages might be lost, with refunds offered for prepaid orders.

Additionally, some customers observed changes to the platform’s affiliate marketing links, which now redirect users to the app’s download page on the App Store or Google Play instead of the intended product pages.

The situation highlights growing concerns over regulatory compliance and consumer protection as Vietnam seeks to tighten oversight of cross-border e-commerce platforms.

“Blind Box” Market Captivates Investors in China

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Blind Box Phenomenon Drives Growth

Major Chinese toy companies have seen significant stock market gains this year. Pop Mart, the Beijing-based owner of iconic brands like Labubu and Molly, witnessed a 350% surge in its share value, reaching a market capitalization of $15.2 billion. Other firms, such as Alpha Group and Wahlap Technology, have similarly benefited, with their shares rising by 26% and 60%, respectively, thanks to their anime and entertainment-related products.

Collectibles, known as guzi in Chinese, range from dolls and trading cards to IP-themed art prints. While some items are priced under ¥10 (roughly $1.40), premium editions can sell for over ¥15,000 ($2,000). These collectibles are not just toys—they’ve become an adult-focused art industry and a status symbol among enthusiasts.

Pop Mart has capitalized on the blind box trend, where customers purchase mystery boxes containing random collectible items. This segment alone is projected to grow at a compound annual rate of 5.5%, reaching $3.8 billion by 2032. Beyond blind boxes, anime-inspired goods and other IP-driven merchandise have further diversified company revenues. For instance, Wahlap Technology has leveraged China’s burgeoning “2D culture”—an aesthetic rooted in anime, manga, and video games originating from Japan—to create derivative IP products for younger consumers.

Cultural and Economic Trends Shape the Industry

The rise of blind boxes aligns seamlessly with broader economic trends in China, including the “surprise economy,” “loneliness economy,” and “social economy.” Specifically, the surprise economy thrives on delivering unexpected joy to consumers through products like blind boxes and exclusive collectibles. Meanwhile, the loneliness economy emerged during the pandemic, as consumers increasingly sought emotional connections through virtual interactions, robotic companions, or blind box collections. In addition, the social economy fosters community-building among niche groups, with fan-driven online communities actively exchanging, trading, and celebrating collectibles like Labubu and Molly.

According to Citic Securities, the market for art toys and animation-related merchandise in China could surpass ¥500 billion, driven by increasing cultural confidence, deep IP development, and strong consumer engagement. Companies like Mango Excellent Media and Huace Film & TV have expanded their “guzi” product lines, organized comic exhibitions, and launched pop-up events to capture this growing demand.

As China’s consumer culture evolves, the blind box market and collectible toys stand poised for long-term growth, reflecting the nation’s shift toward creative consumerism and emotional engagement.

Why Did Senior Aides to South Korean President Yoon Suk-yeol Resign?

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A wave of resignations has swept through the senior ranks of South Korean President Yoon Suk-yeol’s administration, including his Chief of Staff, following the National Assembly’s rejection of his martial law order.

On December 4, the South Korean Presidential Office confirmed that Chief of Staff Chung Jin-suk, National Security Adviser Shin Won-sik, Chief of Policy Office Sung Tae-yoon, and seven other senior officials submitted their resignations. These actions came shortly after President Yoon announced his cabinet’s unanimous decision to rescind the martial law order declared the previous evening.

A Controversial Move

Late on December 3, President Yoon made the unprecedented decision to declare martial law—an action not seen in South Korea for over 40 years. He accused opposition parties of engaging in activities that could benefit North Korea and undermine national security. However, the declaration was met with swift and strong opposition.

In an extraordinary overnight session, the South Korean National Assembly convened to block the martial law order. Their vote effectively ended the measure within six hours, further intensifying political tensions.

Growing Calls for Resignation

The fallout from the martial law declaration has placed significant pressure on President Yoon. Critics have labeled his decision “unconstitutional,” with some lawmakers demanding a detailed explanation and his resignation. Protesters gathered outside the National Assembly in Seoul on the morning of December 4, calling for his impeachment and immediate removal from office. Meanwhile, South Korea’s largest labor union announced plans for a strike until President Yoon steps down.

Political Turmoil and Declining Support

Since taking office in 2022 as a member of the conservative People’s Power Party, Yoon Suk-yeol has faced numerous challenges. His presidency has been marked by rising tensions with North Korea, strained relations between the U.S. and China, and a rapidly declining birthrate. Yoon has adopted a hardline stance on North Korea, departing from his predecessor Moon Jae-in’s focus on dialogue and reconciliation, even suggesting preemptive strikes if necessary.

However, his approval ratings have faltered amid ongoing controversies. Recently, prosecutors investigated allegations that Yoon’s wife accepted illegal luxury gifts, further damaging his public image.

The President has yet to comment on the resignations or the growing calls for his departure. A planned public appearance on the morning of December 4 was canceled, leaving South Koreans and the international community awaiting his next move.

Ethereum Transaction Revenue Has Surged Since Trump Election Victory: Steno Research

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The jump has led to higher staking rewards and more ether being burned through transaction fees, the report said.

The Ethereum blockchain’s transactional revenue has increased substantially since Donald Trump’s U.S. election victory, Steno Research said in a Monday report.

“This outcome is crucial for all onchain activity,” wrote analyst Mads Eberhardt.

The surge has led to higher staking rewards and more ether (ETH) being burned via transaction fees, the report said.

“This combination strengthen’s Ethereum’s tokenomics,” Steno said, making ether a more appealing asset.

Steno noted that the amount of USDT on the Ethereum network surpassed supply on the Tron blockchain for the first time in more than two years. This is a clear sign that on-chain activity is booming, resulting in greater demand for ether to facilitate transactions and higher transactional revenue.

The number of daily transactions on Ethereum layer-2 networks, or rollups, is also growing, and Steno said it expects this upward trend to continue.

Rollups are Ethereum protocols that process transactions separately from the main network to help increase speed and lower costs. Layer 2s are separate blockchains built on top of layer 1s, or the base layer, that reduce bottlenecks with scaling and data.

The daily fees the rollups pay to Ethereum are not transformative at the moment, but Steno said it is not unrealistic to estimate that they could reach $1 million, and when this happens it will be a meaningful addition to the network’s economics.

Ether spot exchange-traded funds (ETFs) in the U.S. recorded their largest one-day net inflow to date on Friday, and surpassed bitcoin (BTC) versions for the first time, the report noted.

XRP Records Highest Ever ‘Whale’ Activity as 7-Day Price Gains Near 100%

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Whales can move markets with their buying or selling pressure, and tracking this can indicate their market sentiment.

XRP prices have zoomed 430% in the past 30 days, reaching price levels last seen in 2018 and leaving scores of Crypto Twitter traders surprised with the strength. The rise started in early November after the Republican victory in the U.S. election reignited investor confidence in tokens linked to U.S. companies, including XRP’s associated Ripple Labs.

Large holders are playing a key role in contributing to the move. CryptoQuant data shows whale activity – which tracks movements from large wallets to and from exchanges – has been consistently elevated since the past month, multiples higher than any other period.

Whales can move markets with their buying or selling pressure, and tracking this can indicate their market sentiment.

For instance, if the cryptocurrency’s inflow into exchanges (Exchange Inflows) is significant, it might suggest that whales are preparing to sell, potentially signaling a bearish market trend. Conversely, large outflows from exchanges might indicate accumulation by whales, which could be bullish.

However, such whale movements tend to coincide with local peaks, CryptoQuant’s contributing analyst Woominkyu said in a post Monday, as sophisticated participants sell on retail inflows.

“Historically, significant spikes in whale-to-exchange transactions (marked by red circles) align closely with XRP price peaks,” Woominkyu stated. “This suggests that whales tend to move large amounts of XRP to exchanges to sell near local or cycle tops.”

“The latest spike in whale-to-exchange activity coincides with XRP reaching a local price of around $2.3. This could indicate whales preparing for potential profit-taking or increased market activity,” Woominkyu added.

XRP is up 14% in the past 24 hours, outperforming bitcoin and all other crypto majors, according to CoinDesk data. The token flipped Solana’s SOL and tether (USDT) in quick succession over the weekend — standing as the third-largest token by market cap as on Tuesday.

The Southeast Asia Economic Strategy to 2040 focuses on the green and digital transition in Vietnam

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“The most special thing about Vietnam is the abundance of opportunities for collaboration in priority areas such as energy transition, green economy, education, and agriculture between Australian and Vietnamese businesses.” Ms. Louise Adams – Aurecon’s Chief Operating Officer and Australia’s Business Champion for Vietnam – spoke at the press conference in HCMC.

These are also the key areas that Australian investors are seeking in the Vietnamese market under the Australian government’s Southeast Asia Economic Strategy to 2040. During her visit to Vietnam, Ms. Adams observed that some Vietnamese businesses are looking for energy and digital transition solutions, and Australian businesses and investors are ready for this opportunity.

In the discussion about the Southeast Asia Economic Strategy to 2040, Ms. Adams said that an Investment Deal Team was established in HCMC to assist businesses in Southeast Asia as well as Australia in seeking opportunities to develop innovative solutions beyond their home countries. The differences in the business environment of another country will pose certain challenges, and the Investment Deal Team in HCMC will help Australian and Vietnamese businesses better understand each other’s markets. This is one of Australia’s policies aimed at strengthening bilateral trade and investment relations with Southeast Asian countries, including Vietnam.

The program actively seeks to gather funds from various sources. One example is its initiative to facilitate the National Australia Bank (NAB) in establishing a new office in HCMC to support Australian clients. NAB will continue to attract top technology talent within the bank’s global network.

To strengthen and expand cooperation between the two countries, Austrade has launched the Landing Pad program for technology companies in Vietnam to promote impact investment and highlight opportunities for Australian investors. The Investment Deal Team in HCMC and the Landing Pad will also assist businesses from both countries in understanding registration procedures and trade laws in the host country, enabling them to quickly adapt to the new business environment as well as helping them grow their network.

With an average annual growth rate of 6.7%, Vietnam aims to become a high-income country by 2045, focusing on enhancing the global value chain. This involves transitioning from a fossil-fuel-based, export-oriented manufacturing economy to an advanced technology-driven economy with skilled labor, services, and renewable energy, alongside a commitment to net-zero emissions by 2050. These goals present significant opportunities for Australian businesses in this market.

According to the Foreign Investment Agency under the Ministry of Planning and Investment, Australian businesses have invested in 631 projects in Vietnam, with total registered capital of $2.04 billion. The leading sector is processing and manufacturing, followed by hospitality and food services, and third is agriculture, forestry, and fisheries. Meanwhile, as of 2023, Vietnam has invested in 93 projects in Australia with a total registered capital of $586.4 million, according to the Ministry of Planning and Investment.

According to the Australian Consulate-General Ho Chi Minh City office, this year marks the first anniversary of Australia’s Southeast Asia Economic Strategy to 2040, the country’s comprehensive policy to significantly increase two-way trade and investment with Southeast Asian countries, including Vietnam.

The strategy includes practical measures to increase Australian investment into the region and Vietnam, such as the deployment of Investment Deal Teams across the region, including one in HCMC to identify opportunities for Australian investors, and the establishment of an Investment Financing Facility to catalyse more private sector investment between Australia and the region.

Da Lat Among Asia’s Most Affordable Year-End Travel Destinations

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Da Lat ranks fourth in Agoda’s list of the most budget-friendly travel destinations for Christmas and New Year in Asia, with an average hotel price of approximately VND 1.57 million per night.

Tourists check in at a Christmas decoration destination in Da Lat. Photo: Mr. Dung.

Recently, the digital travel platform Agoda released a list of the most affordable year-end destinations, offering travelers a range of budget-friendly accommodation options for the holiday season in Asia.

In Vietnam, Da Lat emerged as the most economical choice, ranking fourth on the list with an average room rate of VND 1.57 million per night.

Agoda describes Da Lat as having a distinctive charm with its cool, crisp mountain climate, making it an ideal getaway for the year-end holidays.

An early morning in Da Lat. Photo: Minh Sang.

According to Vu Ngoc Lam, Country Director of Agoda Vietnam, the holiday season is a time of joy, warmth with family and friends, and an opportunity to explore new destinations. However, it is also a period when travel costs typically rise, making budget management a top priority for many travelers.

“We compared hotel prices across 10 key cities in nine countries. In reality, travelers can find even more attractive options, not just in the destinations listed but also in many others on our booking platform,” Lam said.

Topping the rankings is Hat Yai, in southern Thailand, which emerged as the most affordable choice for December travelers, with an average room rate of VND 1.16 million per night.

Nagoya Castle in the city of the same name, Japan. Photo: Mateusz Walendzik, Huu Huynh/Pexels.

Hat Yai’s highlight is the Kim Yong Market, bustling with shopping, entertainment, and stalls offering Christmas gifts and treats.

Following Hat Yai are Surakarta (Indonesia) and Varanasi (India), with average hotel prices of VND 1.19 million and VND 1.24 million per night, respectively.

Nagoya, Japan’s third-largest city, also made it onto the list, with an average accommodation cost of VND 2.7 million.

Agoda notes that visitors to Nagoya can marvel at the grandeur of Nagoya Castle, explore the vibrant Sakae district, and savor the city’s famous cuisine, including Hitsumabushi (grilled eel) and Miso Katsu (pork cutlet with miso sauce).

@Znews

Tam Dao Named ‘World’s Leading Tourist Town’

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The World Travel Awards has once again recognized Tam Dao (Vinh Phuc) as the “World’s Leading Tourist Town 2024”.

Tourists check in at a singing spot in Tam Dao in November 2023. Photo: @phuongtali_2709.

Recently, at a ceremony held in Madeira, Portugal, the World Travel Awards announced this year’s honorees across various travel categories. Vietnam emerged as one of the most awarded countries.

Tam Dao was awarded the title of “World’s Leading Tourist Town 2024,” marking the second time the northern district of Vinh Phuc Province has received this honor since its first recognition in 2022.

In addition to the World Travel Awards, several travel platforms have also praised this destination. For instance, Travel and Tour World (TTW) highlights Tam Dao’s historical significance, describing it as a summer retreat for French officials in the late 19th century.

Tam Dao has fresh, cool weather similar to Da Lat, according to TTW. Photo: @_lille.09_, @l.td164.

“Today, its tranquil climate and picturesque landscapes continue to attract visitors, especially those seeking an escape from the hustle and bustle of Hanoi,” noted the publication.

French-style villas and hotels add to the district’s charm, appealing to history and nature enthusiasts. According to TTW, the recognition by the World Travel Awards is expected to draw even more visitors to Tam Dao.

Additionally, Phu Quoc Island was named the “World’s Leading Island Nature Destination 2024” for the third consecutive year, while Ha Nam Province received the “Special Achievement Award 2024”.

A pristine fishing village in Phu Quoc. Photo: Min On The Go.

TTW described Phu Quoc as a “paradise” for nature lovers, renowned for its pristine beaches, forests, and wildlife, offering an immersive natural experience. This award strengthens Phu Quoc’s growing prominence on the global tourism stage.

“The destination is expected to see record-breaking search interest from global travelers in the near future,” the travel publication noted.

On a national level, Vietnam was named the “World’s Leading Heritage Destination 2024,” surpassing contenders like Armenia, Brazil, Egypt, Greece, Japan, and Saudi Arabia.

This marks the fifth time Vietnam has received this prestigious title, with previous wins in 2019, 2020, 2022, and 2023.

@Znews