Vietnam Insider

World crude oil prices fell slightly after the US presidential election. Domestically, this afternoon (November 7) is the time for price adjustment, and domestic gasoline prices are forecast to increase by about 300 – 800 VND/liter.

World gold prices plummeted, causing SJC gold bars to lose 2 million VND per tael after Donald Trump’s victory.

World gold prices plummeted after Donald Trump was re-elected as US President. At the beginning of November 7, gold prices were trading around $2,662/ounce, down $62 compared to the end of yesterday and down a total of more than $82 after one day. Even in the session of November 6 (closing at dawn on November 7, Vietnam time), gold prices dropped to $2,659/ounce. Equivalently converted, world gold is currently at VND81.7 million/tael (excluding taxes and fees).

In Vietnam, the price of SJC gold bars decreased by VND2 million in buying price and VND1.5 million in selling price. Specifically, Saigon Jewelry Company – SJC bought VND85 million/tael, sold VND87.5 million. Similarly, SJC bought 4-number-9 gold rings for VND84.4 million/tael, sold VND86.2 million, down VND2 million in buying price and down VND1.7 million in selling price. Doji Group bought VND85.1 million, sold VND86.5 million, down VND2.2 million in buying price and down VND1.9 million in selling price…

Gold prices fell to their lowest in more than three weeks as the dollar held firm, Reuters reported. Investors are closely watching the US Federal Reserve’s policy meeting, which ends today. The market is expecting the Fed to announce a 25 basis point interest rate cut after cutting 0.5 basis points in September. If there are signs that another rate cut is likely in December, gold prices could hold steady and even rise, said Zain Vawda, a market analyst at OANDA’s MarketPulse.

(Dan Tri) – After announcing its cooperation with the Trump Organization, Kinh Bac continues to benefit from the plan to disburse 80 million USD from Foxconn. KBC shares and many real estate codes increased sharply this morning.

The Ho Chi Minh City Department of Transport has submitted a proposal to the City People’s Committee regarding ticket prices for the city’s Metro Line 1 (Ben Thanh – Suoi Tien).

Metro Line No. 1 Ben Thanh – Suoi Tien is expected to be put into operation by Ho Chi Minh City at the end of this year. Photo: TL

According to the proposal, for passengers paying with cash, the minimum fare will be 7,000 VND, and the maximum will be 20,000 VND per trip. For non-cash payments, fares for Metro Line 1 will range from 6,000 to 19,000 VND.

A day pass will be priced at 40,000 VND per person, allowing unlimited travel for the day. A three-day pass will cost 90,000 VND per person, also with unlimited travel over the three days.

Monthly passes will be available at two rates: 300,000 VND per month for regular passengers and 150,000 VND per month for students, allowing unlimited rides throughout the month.

Regarding fare exemptions, the Department of Transport is following procedures to advise the City People’s Committee to present a proposal to the Ho Chi Minh City People’s Council for a final decision.

Previously, on November 4, the department submitted a draft resolution to the City People’s Committee Office regarding support policies for public transport passengers on buses and metro, as well as funding support for public transport services in the city.

According to the draft, the Ho Chi Minh City budget will cover 100% of ticket costs for certain groups, including people with contributions to the revolution, people with disabilities, seniors (aged 60 and above), and children under six accompanied by an adult .

Additionally, for the first 30 days of Metro Line 1’s commercial operations, the city will subsidize 100% of ticket costs for all passengers on the metro and the 17 bus routes that connect to the metro line.

Construction of the Ben Thanh – Suoi Tien metro line began in late 2012. This is the first line in Ho Chi Minh City’s planned urban railway network. The project has an estimated investment of approximately 43.7 trillion VND, with a total length of about 19.7 km, featuring three underground stations and eleven elevated stations. Metro Line 1 will operate with a total of 17 trains, each capable of carrying 930 passengers, including 147 seated and 783 standing. This metro line is expected to begin commercial operations in early 2025.

@SGtiepthi

Since the official release of the Winter 2024 flight schedule, Vietnamese and international airlines have increased operations to meet passenger demand, particularly during the year-end months, reaching 2,720 flights per week.

Domestic airlines increase flight frequency during peak winter season. Photo: TL

specifically, Vietnamese carriers are operating 1,013 round-trip flights per week, an increase of 152 flights, while international carriers have scheduled 1,707 round-trip flights per week, an increase of 236 flights compared to the summer schedule.

Vietnam Airlines has added 41 weekly round-trip flights, bringing its total to 420 flights per week. Vietjet Air also increased by 110 weekly round-trip flights, now offering 580 flights per week. Meanwhile, international airlines are operating 124 routes, up by three since last summer.

China leads in terms of airlines operating flights to Vietnam, with 13 carriers, followed by South Korea with 10 airlines, while Taiwan and Hong Kong each have 5 airlines.

For domestic routes, Vietjet operates 35 routes with 790 round-trip flights per week. Vietnam Airlines, including Vasco, operates 34 routes with 912 round-trip flights per week.

Bamboo Airways operates 11 routes with 130 round-trip flights per week, Pacific Airlines runs 11 routes with 77 round-trip flights per week, and Vietravel Airlines operates 5 routes with 49 round-trip flights per week.

Noi Bai International Airport operates 897 flights per week with 4 domestic and 44 international airlines, maintaining stable route and frequency levels compared to summer.

Tan Son Nhat International Airport has 4 domestic airlines, 45 international carriers, and 1,031 round-trip flights per week, a 100-flight increase over the summer. Da Nang International Airport sees 3 domestic and 23 foreign airlines operating 8 and 15 international routes, respectively, with a total frequency of 364 flights per week.

In addition to the approved regular schedule, Vietnamese airlines are actively preparing to add flights to accommodate increased travel demand during the New Year and Lunar New Year holidays.

Moreover, the Civil Aviation Authority has adjusted its flight operation plans, including increasing flight numbers and modifying flight schedules. The authority will closely monitor ticket bookings and prices to make timely adjustments, ensuring a balanced supply and demand for air services during the upcoming peak season.

@SGtiepthi

(Dân trí) – As the company with the largest flower production globally, KIFA aims to expand cooperation with Vietnam in research on flower varieties, cultivation, consumption, and wealth creation from flowers. This proposal was shared by Mr. Tào Vinh Căn, Chairman of Kunming International Flower Trade and Auction Center Co., Ltd (KIFA), during his meeting with Prime Minister Pham Minh Chính on November 6, in Kunming, Yunnan Province, China.

With over 20 years of development, KIFA’s auction transaction scale is the largest in Asia and second globally, with the world’s leading flower production. The company currently offers more than 2,000 types of flowers, spanning over 40 varieties, which are auctioned to major cities across China and exported to more than 40 countries and regions worldwide, including Thailand, Japan, Singapore, Hong Kong (China), Russia, and Australia.

KIFA has been recognized as one of the top national enterprises in agricultural industrialization and is a model company in applying and innovating supply chains. It is also a national model for agricultural and rural information technology and a key innovation project of the Ministry of Commerce of China.

After two visits to Vietnam, KIFA’s Chairman noted that the country has significant potential to develop a modern flower industry, with a suitable climate. He emphasized that there is substantial space for cooperation between Vietnam and Yunnan and proposed collaboration in flower breeding, cultivation, consumption, and the development of flower trading platforms for international markets, forming a supply chain and ecosystem for the flower and ornamental plant industry.

Prime Minister Pham Minh Chính encouraged KIFA to expand investment in high-tech agriculture, especially in the flower and ornamental plant sector. He emphasized that these are fields that Vietnam is encouraging and calling for investment in. “Vietnam has a large demand with a market of 100 million people, and a rapidly growing middle class. As society develops, the demand for flowers rises, and the quality expectations continue to increase,” said the Prime Minister.

He also agreed with KIFA’s proposal to cooperate on flower breeding, zoning for cultivation, production, processing, and business, contributing to the development of the flower market, the establishment of flower trading platforms for both domestic and international export markets, and wealth creation from flowers.

The Prime Minister highlighted that Vietnam, particularly the northern regions, has many advantages for developing the flower and ornamental plant industry, with suitable land and climate for many flower species. He encouraged KIFA to proactively cooperate and propose specific cooperation projects to the Ministry of Agriculture and Rural Development, the Ministry of Industry and Trade, and relevant localities, implementing support programs and partnerships with farmers to build mutually beneficial relationships.

Source: Hoai Thu (from Kunming, Yunnan, China) – Dan tri news.

Numerous state-owned properties in central Ho Chi Minh City, including valuable land and houses in prime areas, have been illegally rented out by managing units without public bidding. In addition, some companies renting these properties have accumulated significant arrears, according to the city’s Inspectorate.

This was revealed in the findings of the City Inspectorate regarding the management and use of state-owned houses, land, and assets in District 1 during the period of 2022-2023. Many of these properties are located in high-value areas such as Nguyễn Huệ, Đồng Khởi, and near Bến Thành Market, and have either been left vacant or rented out improperly.

Specifically, the District 1 Public Utility Company was entrusted by the Ho Chi Minh City People’s Committee to manage over 1,680 addresses of state-owned houses and land. Some properties have been sold to the public, while more than 1,400 properties have been handed over to the Center for Housing Management and Construction Appraisal under the Department of Construction.

However, 33 properties were left vacant, including seven locations on Nguyễn Huệ, Lê Lợi, and Bùi Viện Streets that have been unoccupied for over a year. These properties span thousands of square meters and are considered a waste of valuable resources. Over 30 properties have not been managed in accordance with the city’s approved plans.

The Thanh Tra report also found that the District 1 Public Utility Company did not manage the properties effectively, which led to nine properties being rented out to companies with arrears stretching over time. The total arrears for these properties now exceed VND 20 billion. These properties are located on Nguyễn Huệ, Trần Đình Xu, Ký Con, Lê Thánh Tôn, Pasteur, Calmette, Bùi Thị Xuân, Tôn Thất Đạm, and Nguyễn Thái Bình streets.

Moreover, the District 1 Public Utility Company was found to have rented out several properties without conducting public bidding. The rental agreements were not in accordance with the regulations for managing public assets, and pricing did not include necessary costs like management fees and industry profit, thus failing to meet the required transparency and market-based mechanisms.

Furthermore, the contracts lacked penalties for late payments and violations, which impacted the city’s revenue collection.

For properties under the management of District 1, including 186 addresses, the Thanh Tra report concluded that local units had rented out several properties improperly, with funds received from these rentals not being properly recorded.

The report revealed that the District 1 Sports Center had directly managed and rented out 32 locations across four properties on Huyền Trân Công Chúa, Nguyễn Du, and Nguyễn Bỉnh Khiêm streets, generating over VND 12.5 billion outside of official records. Additionally, the center had rented out five other properties for canteens and parking areas without city approval.

The District 1 Vocational Education and Training Center had rented properties on Nguyễn Thị Minh Khai, Bùi Thị Xuân, and Nguyễn Đình Chiểu streets without prior approval and without going through bidding processes.

The Bến Thành Market Management Board was also found to have rented out space and infrastructure at the market without following regulations, including not going through the proper bidding process and not having a city-approved asset usage plan. The total income generated from this practice amounted to over VND 1.9 billion.

The violations were attributed to the District 1 People’s Committee, the Director of the District 1 Public Utility Company, the deputy directors in charge, and other relevant individuals and organizations during the period in question. The city’s Inspectorate has called for legal action to recover the owed funds and state assets.

Source: Le Tuyet – Vnexpress.

One of the two pilots involved in the training aircraft crash safely parachuted into a mountainous area and subsequently reported his safety to his unit, prompting rescue operations by the authorities.

* Updates to follow

On the afternoon of November 6, Phan Chí Hùng, Chairman of Tây Sơn District People’s Committee, stated that at approximately 4:30 PM, the authorities received a call from Lieutenant Colonel Nguyễn Hồng Quân, one of the two pilots involved in the crash, reporting that he was safe and uninjured. However, due to weak signals, the mountainous terrain, and heavy rain, accessing the pilot has been challenging.

Military forces and Bình Định provincial leaders are coordinating search efforts from a temporary command post. (Photo: Minh Bằng)
Military forces and Bình Định provincial leaders are coordinating search efforts from a temporary command post. (Photo: Minh Bằng)

Authorities have mobilized hundreds of soldiers to the crash site in Tây Phú Commune, Tây Sơn District, following the pilot’s location signal to reach the crash site, but as of now, they have not yet located the pilot.