Hà Giang, the northernmost province of Vietnam, is not only renowned for its majestic scenery but also as a destination that attracts numerous international tourists. Recently, a video capturing foreign tourists relaxing and humming melodious tunes against the surreal backdrop of the “M” road has garnered widespread admiration on social media. The breathtaking landscape, combined with gentle music, creates an unforgettable experience that leaves many wishing to visit Hà Giang repeatedly.
Located to the east of Cao Bằng province, west of Yên Bái and Lào Cai, south of Tuyên Quang, and north bordering China, Hà Giang boasts winding, precipitous roads full of challenges. However, these very challenges offer a fantastic experience for those who love to explore. As one drives along these roads, tension gradually gives way to a sense of relaxation, with eyes feasting on the magnificent beauty of the rocky plateau.
Many have commented that the scenery, paired with the melodies of Lana Del Rey, creates an indescribably wonderful ambiance. Indeed, while cameras can capture images, they cannot fully convey the beauty and emotions of this place. The picturesque views cannot completely express the nuances of Hà Giang, which can only be truly felt through one’s eyes and heart.
Hà Giang, with its wild, romantic beauty, leaves anyone who has visited longing to return. The feeling of being perched between mountains and forests, immersing oneself in music and nature, makes people feel like they are living in a dream. For those who have never set foot in Hà Giang, images of foreign tourists relaxing freely amidst the vast nature intensify their desire to experience it at least once in their lifetime.
Photos: @caitlingrayx, @ashleyj_andrews
Indeed, youth needs such journeys. Adventures in the vast spaces of Hà Giang’s mountains and forests not only yield beautiful photographs but also stories and memorable moments in the journey of exploring life. Hà Giang, with its irresistible beauty, will always be a cherished destination for those who have visited and those who still dream of one day exploring this place.
On an early November afternoon, heavy rain caused water to pool on the tarpaulin covering a chè cart on Nguyễn Văn Thủ Street (District 1, Ho Chi Minh City). Mr. Thể stepped out, shook off the water, and then returned to his corner on the sidewalk to continue washing dishes. Fifteen minutes later, after three groups of customers left, he quickly cleaned the cups and arranged the chairs.
He works six hours a day, rain or shine. For four decades, this man has never felt tired because “being able to work is happiness.” His simple chè cart, nestled under two large umbrellas, bears the sign “Dương Quá” as a reflection of his life story.
The nearly 80-year-old man is famous for selling chè in Saigon. It is only after tasting his chè that people understand why he is called “Dương Quá.”
Mr. Thể was born and raised with a healthy body. In 1968, he helped a neighbor by carrying her chè cart. They only had a few simple items like mung beans, black beans, and red beans served with coconut milk.
Four years later, Mr. Thể had an accident and lost one arm. “That was the darkest time; I was sad, afraid I couldn’t do anything and would become a burden to my family,” he recalled. His family consisted only of him and his sister, who always took care of him.
In the beginning, he struggled to move around and couldn’t dress himself. He cautiously took each step around the house and practiced doing everything on his own. Gradually, he could cook, clean, wash dishes, and even ride a bicycle.
When his wound healed, he chose to sell chè for a living. With his sister’s guidance, he sold chè in Phú Nhuận District, then moved to Phạm Ngọc Thạch Street (District 3). Eventually, his chè cart was set up on Nguyễn Văn Thủ Street (Đa Kao Ward, District 1), where it has remained for 40 years.
“Dương Quá” is a nickname given by local residents. Some people passing by saw him working diligently despite having only one arm. He didn’t hesitate to deliver chè on his bicycle, no matter how far, and then quickly returned to stir the chè, bag it, and handle payments.
The image of a one-armed man reminded them of the character Dương Quá from Kim Dung’s novel “The Return of the Condor Heroes.” They called him that so often that Mr. Thể embraced it and named his chè cart “Dương Quá.”
“They often ask me, ‘Where’s your Cô Long?’ I can only smile,” said Mr. Thể. For decades, he has worked tirelessly and has not dared to marry. Every morning, he wakes up early to help his sister cook chè, sets up his cart at noon, and handles countless tasks. He devotes his energy to caring for his nieces, nephews, and elderly sister.
At night, he just wants to rest. Years of such routine have made him reluctant to start a family, as he doesn’t want to bring hardship to anyone. Despite this, Mr. Thể doesn’t feel lonely because he has customers who stop by to chat. Some inquire about his work, some become familiar faces, and some even save his phone number to call when needed.
Around noon, office workers from nearby buildings visit his cart. Each cup of chè costs between 15,000-20,000 VND. He sells about 100 cups daily, enough to cover family expenses.
Mr. Thể’s chè is unique, with a light sweetness and a rich, buttery mung bean flavor. For years, he and his elderly sister have had help from his niece-in-law, Mrs. Nguyễn Thị Nữ (55 years old). She has added new items like water chestnut with coconut rice, combined with various beans, lotus seeds, and grass jelly. Each cup of chè is colorful, topped with rich coconut milk.
The chè cart is popular because “Dương Quá” is always cheerful. He rarely gets upset; when the work gets too tough, he rests in a corner or chats with regular customers.
Đức Tiến (29 years old) is a regular customer. Initially, he was impressed by the one-armed man who was quick and diligent. Occasionally, he stopped by to eat and became “addicted” to the chè.
“He’s very kind, always smiling and never grumpy. Whenever I buy to-go, he asks if my house is far, worried that the coconut milk might spoil or the ice might melt,” Tiến said.
And just like “Dương Quá’s” outlook on life, there’s already enough sadness in the world, so enjoy the happy days while you can.
(ĐS&PL) – On the morning of November 6, in the corridors of the National Assembly, many deputies expressed their views on the incident where a girl was fatally hit by a group of motorcyclists while waiting at a red light in Hanoi.
In recent days, public opinion has once again been stirred after a group of reckless motorcyclists caused an accident at the Trần Hưng Đạo – Bà Triệu intersection (Hoàn Kiếm district, Hanoi), resulting in the death of a girl.
This is a persistent issue in the capital that has not been thoroughly addressed, characterized by reckless behavior, disregard for the law, and lack of respect for others’ lives.
National Assembly Deputy Tạ Văn Hạ, Deputy Head of the National Assembly’s Committee on Culture and Education, told Pháp luật TP.HCM newspaper that this incident highlights the inadequate responsibility of parents in educating their children about legal compliance.
Regarding solutions, Deputy Hạ emphasized the need for strict enforcement of the law, stating that existing regulations must be upheld. He suggested that harsher penalties, such as confiscating vehicles used improperly, are necessary to deter such behavior.
Deputy Hạ also pointed out the importance of holding those who provide vehicles accountable. Additionally, he stressed the need to enhance awareness in schools and improve education on traffic safety laws for students.
“This is well addressed at the primary and secondary school levels. However, it is especially crucial to strengthen legal education on traffic safety for high school students,” said Deputy Hạ.
“Adolescents are not yet fully mature, both mentally and physically, and they are often very energetic and prone to rebellion. Therefore, special attention and preventive measures are required to ensure they do not break the law, through increased supervision, guardianship, and school education,” Deputy Hạ emphasized.
National Assembly Deputy Phạm Khánh Phong Lan (Ho Chi Minh City delegation) expressed her condolences to the victim’s family through Lao động newspaper.
Deputy Phạm Khánh Phong Lan suggested that, in addition to breathalyzer tests to reduce traffic accidents, there should be a special task force to promptly handle and prevent illegal racing.
She also recommended educational measures, such as involving schools and enforcing strict discipline, with severe penalties for those caught in the act, including imprisonment for causing serious consequences. “Strict measures are necessary for effective deterrence,” she emphasized.
Meanwhile, National Assembly Deputy Nguyễn Thị Việt Nga, a member of the National Assembly’s Committee on Culture and Education, pointed out that the increasing number of traffic accidents is placing significant pressure on society.
One major cause of traffic accidents is illegal racing groups, particularly in major cities like Hanoi and Ho Chi Minh City. This phenomenon is mostly prevalent among young people, some of whom are still in high school.
“The primary responsibility lies with the family. Parents cannot be absolved of responsibility for their adolescent children. Proper and strict management and education by parents and guardians can help reduce this issue,” said Deputy Nga.
Regarding illegal racing, Deputy Nguyễn Thị Việt Nga noted that many measures have been implemented but have not effectively eradicated the problem. Therefore, in addition to preventive measures from authorities and society, the most crucial factor is family management and education of children.
(Dân trí) – During a training flight, the Yak-130 aircraft encountered an issue, prompting the two pilots to steer the plane away from residential areas and eject with parachutes.
On November 6, speaking with a Dân trí reporter, Bình Định provincial leaders confirmed that the Yak-130 training aircraft experienced a malfunction and crashed in the province. The crash site and the whereabouts of the pilots who ejected have not yet been determined.
The crashed aircraft belonged to the 940th Air Regiment, Air Force Officer School, stationed in Bình Định.
“We have mobilized police forces, military, forest rangers, self-defense militia, and local residents to carry out the search,” said Bình Định provincial leaders.
According to initial information from Bình Định authorities, the plane crash occurred at 11 a.m. on November 6 in Tây Sơn district.
A Yak-130 preparing for a training flight in Bắc Giang at the end of 2023 (Illustrative photo: Tiến Tuấn).
The report from the Bình Định Provincial Military Command indicates that the crashed aircraft is a Yak-130, tail number 2101.
The flight crew included Colonel Nguyễn Văn Sơn – Regiment Commander of the 940th Air Regiment and Lieutenant Colonel Nguyễn Hồng Quân – Chief of Flight Operations of the 940th Air Regiment.
According to initial developments, at around 10 a.m. on the same day, the pilots ejected from the aircraft over Tây Xuân commune, Tây Sơn district. The pilots and the crash site have not yet been located.
The Bình Định Provincial Military Command is reporting the incident to the provincial Party Committee and the People’s Committee for direction and is informing local agencies and units to coordinate search and rescue operations.
The Bình Định Provincial Military Command has established a temporary command post, deploying a standby force of 82 officers and 60 militia members to coordinate with relevant units in search and rescue efforts.
The Yak-130 is a training and ground attack aircraft designed and manufactured by OKB Yakovlev of Russia in collaboration with Italy’s Aermacchi. It is one of the most advanced light training and combat aircraft today.
Buoyed by donations and votes from a digital asset industry he aggressively courted, Trump won a second term to the White House in his third bid for the U.S.’s highest office.
Former U.S. President Donald Trump will once again take the White House, needing only three more electoral votes from a state leaning heavily red, defeating Vice President Kamala Harris and auguring a more permissive regulatory environment for crypto in the world’s largest economy.
Crypto has not been a major issue through this election cycle, though Trump, the Republican candidate for president for a third election in a row, did a great deal of outreach to the crypto industry, by speaking at a bitcoin conference, handing out burgers at a crypto bar and otherwise making statements appealing to the industry, including promising to fire Securities and Exchange Commission Chair Gary Gensler. Harris, the Democratic candidate, has on a handful of occasions shared some general comments about supporting the industry but did not delve deeply into her views.
On Wednesday morning, ABC, CBS, Fox and NBC projected that Trump would win Pennsylvania, a critical “blue wall” state with 19 electoral votes. Alongside Alaska, which is also likely to send its three electoral votes to Trump, the former president will win the presidency. The New York Times also projected that he may win the popular vote, a feat no Republican has achieved since George W. Bush in 2004. As of press time, Trump led Harris by about 5 million votes.
Republicans also won control of the Senate, flipping Ohio and West Virginia’s seats.
During Trump’s first term as president, his regulators introduced a controversial wallet proposal that died under the Biden administration, as well as a special purpose broker dealer license that was later finalized under Gensler.
Despite that record, in this campaign cycle Trump has promised to name a new chair to the securities regulator, and vowed that “Bitcoin will be made in the USA” on social media and in speeches.
He also promised to free Silk Road developer Ross Ulbricht, who was convicted on multiple charges for creating and operating the dark net marketplace.
Trump enjoyed vocal support from sections of the crypto industry as a result of his outreach, building on the support he already drew after selling multiple waves of non-fungible tokens.
“Bitcoin is not just a marvel of technology, as you know, it’s a miracle of cooperation and human achievement and a lot of relationships that are formed. They just did a meeting, a roundtable, with a lot of the leaders, and it’s amazing,” Trump said at Bitcoin Nashville. “There’s a great camaraderie.”
Trump has also more recently leaned into more authoritarian rhetoric, warning about “the enemy within” the U.S. and promising mass deportations over the past few months of his campaign. The former president’s economic policies also rely heavily on imposing tariffs on various imports from the U.S.’s trading partners.
An incoming crypto-friendly Trump administration could make allowing crypto ETFs in the U.S. easier, traders say, boosting SOL’s prices.
Solana’s SOL jumped 17% in the past 24 hours as Donald Trump’s lead over Kamala Harris in the U.S. election renewed odds of an exchange-traded fund (ETF) approval for the token soon.
“Markets are still heavily mispricing a republican sweep and upside for the industry is likely much higher than previously anticipated,” Syncracy Capital co-founder Daniel Cheung said in an X post. “SOL ETF likely happens in Q1 2025 putting SOL in a position to flip ETH and even trade at $1000.”
Rennick Palley, founding partner at crypto venture fund Stratos, told CoinDesk in July that SOL was “poised to be the next token with an ETF” as investors widely believe that tokens “won’t be viewed as securities by the Trump admin.”
In early July, the Cboe submitted 19b-4 filings with the Securities and Exchanges Commission (SEC) asking to list VanEck’s and 21Shares’ potential spot Solana ETFs, which were initially filed in late June.
SOL surged over $185 early Wednesday, reaching a market capitalization of over $85 billion that saw it flip BNB Chain’s BNB to become the fourth-largest token behind bitcoin (BTC), ether (ETH) and stablecoin USDT.
BTC rose 8.4%, while ETH added 6% in that period. The broad-based CoinDesk 20 (CD20), a liquid index of the largest tokens by market capitalization, rose by 7%.
Coingecko data shows trading volumes crossed $8.8 billion in the past 24 hours, compared to $3.2 billion over the previous 24-hour period.
The surge came as Republican Donald Trump moved closer to becoming U.S. president, leading most key states and grabbing 240 electoral seats of the 270 needed to helm the country.
A Trump win is largely perceived as being bullish for the industry’s long-term growth, where he is expected to ease crypto regulations and improve the business environment for entrepreneurs.
On November 6, 2024, Air Regiment 940 from the Vietnam Air Force Academy conducted a training flight at Phu Cat Airport, Binh Dinh Province. The flight involved a Yak-130 aircraft (serial number 210 D) piloted by Colonel Nguyen Van Son in the front cockpit and Lieutenant Colonel Nguyen Hong Quan in the rear cockpit. This was the third flight session of the day, navigating complex weather conditions for long-distance and cloud-penetration training.
The aircraft took off at 9:55 AM, but as the pilots prepared to land around 10:38 AM, they encountered a landing gear malfunction. Emergency procedures were executed, but the landing gear failed to deploy. At 10:51 AM, following clearance from flight command, both pilots ejected safely near the TB2 Firing Range in Tay Son, Binh Dinh.
In response, the Air Defense – Air Force Command, along with Military Region 5 and local forces, immediately deployed ground and aerial search-and-rescue units. Further updates will follow as the investigation continues.
This re-election of Trump as U.S. President could have a significant impact on the global economy, especially in Asia. For Vietnam, a nation striving to establish itself as a key manufacturing hub, this shift presents both opportunities and challenges that could shape its economic trajectory.
While American protectionist policies might bring short-term benefits, a second Trump term would also create new demands for Vietnam to balance its investments and trade interests more carefully.
Vietnam Benefits from Global Supply Chain Shifts
During Trump’s first term, Vietnam emerged as a key alternative for companies looking to reduce their reliance on China. This shift spurred substantial investments in sectors such as electronics, textiles, and furniture. Vietnam’s exports to the U.S. rose significantly, from $41.6 billion in 2017 to $49.2 billion in 2018, and then surged to $66.6 billion in 2019, marking a 35.5% year-on-year increase, and a staggering 442.2% increase from 2009. U.S. imports from Vietnam accounted for 2.7% of overall U.S. imports in 2019 (Source: Vietnam General Department of Customs; U.S. Census Bureau).
This surge in exports has bolstered Vietnam’s economy. However, questions remain about the long-term sustainability of this growth. With an increasing reliance on exports to the U.S., Vietnam must monitor shifts in global trade and be prepared for potential disruptions from short-term policy changes.
Risks of High Export Market Dependence
While the export growth has been beneficial, Vietnam’s economy has become more dependent on the U.S. market. Key industries, including electronics, textiles, and furniture, have seen considerable growth, driven largely by U.S. demand. Any changes in U.S. trade policies, or stricter export regulations, could present challenges for Vietnamese businesses attempting to sustain this growth.
This dependence on a single market also makes Vietnam’s economy vulnerable to shifts in consumer demand and potential disruptions in the global supply chain.
Regional Competition for Investment
Vietnam’s competitive labor costs, strategic location, and skilled workforce have made it an attractive manufacturing destination. However, it faces increasing competition from other regional players such as Thailand, Indonesia, and Malaysia, which are also vying for businesses moving out of China.
To maintain its appeal, Vietnam needs to upgrade its infrastructure, improve business processes, and provide competitive incentives. The high occupancy rates in industrial zones such as Binh Duong and Bac Ninh underscore the urgent need for infrastructure investment to accommodate the growing demand from international companies.
Major Investments: Opportunities for Industrial Growth
Vietnam is receiving significant international investment, such as a $1.5 billion project in Hưng Yên, northern Vietnam, where The Trump Organization partnered with Kinh Bac Urban Development Corporation. This investment marks a personal commitment to Vietnam’s industrial development and signals positive prospects for the economy. The influx of capital offers opportunities not only for real estate and infrastructure growth but also as a catalyst for further American and European companies considering Vietnam as a production base.
With substantial capital flowing into the country, Vietnam must ensure the efficient utilization of resources and optimize its management processes to secure long-term benefits and avoid mismanagement or unchecked industrial expansion.
Adapting Economic Diplomacy Strategy
Vietnam is strategically positioned to maintain trade relationships with both Western and Asian countries. As investments from the U.S. and other nations increase, it will need to adopt measures to ensure a balanced approach, avoiding excessive dependence on any single market.
In recent years, Vietnam has embraced a neutral stance in its foreign policy, fostering economic growth by diversifying trade partnerships. This approach has allowed the country to benefit from bilateral relationships with multiple countries while maintaining stability and sovereignty. By continuing to diversify, Vietnam can expand into sectors such as agriculture, financial services, and digital technology to mitigate risks associated with over reliance on manufacturing exports.
As Vietnam solidifies its position as a leading manufacturing center in Asia, questions arise about the long-term sustainability of this strategy. To achieve lasting economic growth, Vietnam may need to invest in high-tech industries, services, and value-added sectors such as renewable energy, financial services, and digital technologies.
By diversifying its economy, Vietnam can minimize risks associated with a single sector and create a more resilient foundation for future growth. Expanding into new fields and fostering innovation will be key in helping Vietnam maintain growth in a rapidly evolving global economic environment.
A Trump re-election could bring both opportunities and challenges for Vietnam as it seeks to strengthen its position in the global supply chain. While U.S. trade policies may offer growth prospects, Vietnam will need to focus on long-term stability by diversifying its markets and enhancing its competitiveness. This approach will not only shield the economy from global disruptions but also pave the way for sustainable development in the years to come.
According to information in Resolution 108/NQ-CP dated July 10, 2024 on the regular Government meeting in June 2024 and the Government’s online conference with localities, a number of economic indicators (including GDP index) in the first 6 months of 2024 were achieved.
Vietnam’s socio-economic situation in June, the second quarter and the first 6 months of 2024 clearly showed a positive recovery, with each month being better than the previous month, each quarter being higher than the previous quarter; achieving many important results, better than the same period in 2023 in most areas, creating a foundation to strive to complete and exceed the socio-economic development goals of the whole year 2024.
Total social investment capital in the second quarter increased by 7.5% over the same period, and in the first 6 months it increased by 6.8%. Disbursement of public investment capital reached 29.39% of the assigned plan. Registered foreign direct investment (FDI) capital in the first 6 months reached nearly 15.2 billion USD, up 13.1% over the same period; realized FDI capital reached about 10.8 billion USD, up 8.2%. Total import and export turnover of goods in the first 6 months increased by 15.7%; trade surplus was 11.63 billion USD. Outstanding issues and obstacles continued to be focused on; management of the gold, gasoline, electricity markets, etc. changed positively.
Among the organizations that have given positive assessments of the growth of the Vietnamese market is Equistone Vietnam. Until early 2024, Expert Luong Duc Hung was assigned by Equistone Investment Fund to build Equistone’s headquarters in Vietnam in an effort to develop the Vietnamese market. This series of investment projects, “Equistone Vietnam – Reaching the World” , chaired by expert Luong Duc Hung , has been supported by Vietnamese investors.
Mr. Luong Duc Hung was born in 1970 in Ba Dinh – Hanoi, the area where the headquarters of the Central Party, National Assembly, President, and Government are located. Mr. Luong Duc Hung’s family has a tradition in the financial sector with his father being a lecturer at the National Economics University, which was then the School of Economics and Finance, and his mother working for a large British corporation in the M&A sector.
From a young age, his parents taught him about investment finance, and the challenges his parents gave him urged him to learn about the stock market early. Influenced by family and social factors, he was imbued with the concept of stock investment early on. He graduated from the National Economics University and received a master’s degree in economics in 1997. After graduating, he continued to improve his qualifications when he went to the UK to continue studying for a master’s degree in economics at Warwick University , then transferred to Oxford University to study finance in 2004. After completing his PhD thesis in 2007, he returned to Vietnam to live for a while. Then he went to the US at the end of 2009, at a time when the stock market recovered strongly after the historic crash in 2008.
Through his connections at Oxford University , he was introduced to forums and seminars led by Michael Edward Platt. is a sharer. After interacting and learning, he has concluded many important issues for himself. Realizing the key points in the market, from there building an investment plan that is not just about trading but also has his own vision and direction.
Initially, Mr. Luong Duc Hung worked at Hgcapital, as a strategic analyst. In 2010, he joined Equistone Partners Europe Limited and spent most of his career at Equistone . It was thanks to this job that his name became famous in the financial world at that time. Since 2017, he has been the head of the Equistone fund investment department in Zurich. After many years of accumulation and investment, spending a lot of time building a personal investment system, he is currently holding more than 30 million USD including securities assets . Basically achieved financial freedom. At the same time, when researching markets around the world, especially the Asian economy, he had a very unique perspective. At this time, he saw great opportunities from potential markets like Vietnam. After receiving Equistone’s proposal to develop the Asian market, he was approved for the position: Director, Equistone Vietnam Asia Investment Division (Vietnam Market Management Branch)
This time, when being assigned the responsibility of bringing Equistone into the Vietnamese market, this is considered a challenge and an opportunity for Mr. Luong Duc Hung to prove his personal capacity. Mr. Luong Duc Hung will take advantage of his close relationships and extensive work experience to successfully complete the set work goals. The success of phase I of “Equistone Vietnam – Reaching the world” has brought great prestige to Mr. Luong Duc Hung.
In addition, in this plan, there is not only independent support from Mr. Luong Duc Hung, but he also built a team of assistants with extensive experience and especially good specialized knowledge, to ensure the support of Equistone Vietnam to all investors.
In the near future, continuing with the companionship of Equistone Vietnam, there will be a plan to support Vietnamese investors (2024) directly implemented by expert Luong Duc Hung as well as an investment information group led by the expert. Expected to bring a “profit wave” to small investors in Vietnam, who can confidently win in the Vietnamese stock investment market 2024 – 2025.
Information about Equistone Vietnam Financial Investment Fund
Equistone provides capital to support management team mergers and acquisitions activities in Benelux, France, Germany, Switzerland, the UK and Asia Pacific. Most of our investments are in acquisitions, equity releases, expansion capital and transactions.
The target investment value range is between €50 million and €500 million and Equistone typically seeks to invest capital of €25 million to €200 million or more from its own funds, the €2 billion Equistone Partners Europe Fund VI and the €2 billion Equistone Partners Asia Fund I.
Equistone works closely with our existing management teams to increase the momentum behind the business and how we can grow, either organically or through navigating the market. Empowering strong management teams with capital and ideas helps focus on adding strategic value to Equistone.
Equistone is known for its direct and agile approach. We want to establish as quickly as possible whether a deal is possible and, if so, on what basis. Equistone has a reputation for executing on its conceptual proposals and connecting businesses and organizations. Leveraging the strengths of the Equistone platform to drive growth, industry consolidation, structural change, and leadership in sustainability and digitalization are some of the key advantages when evaluating investment opportunities and tracking the development of portfolio companies.
Investment data:
Enterprise/portfolio value range: 50 – 500 million euros
Investment range by capital: 25 – 200 million euros
2002 – Present: €10.4 billion/184 deals
The foundation of Equistone Vietnam
Since 1992, with the rise of the Asian economy, most multinational companies and financial groups have begun to develop their businesses in Asia. By 2018, the US-China trade war, along with the rapid development of new economies in Southeast Asia and India, has created a wave of multinational companies moving to this region. In recent years, Vietnam has emerged as a country with leading potential, position and prestige in the world. With a stable political foundation, a special geographical location, and Vietnam’s readiness to attract large corporations in the world, including institutions, infrastructure, and human resources. Combined with Vietnam’s constant expression of neutrality in the complex world security situation, it has created a peaceful and stable environment for economic development as well as attracting investment. Following the announcement of the closing of the €2.8 billion Equistone Partners Europe Fund VI last year, with the aim of expanding our market reach and developing our management team network in new economies, Equistone has decided to build our Asia – Pacific headquarters in Vietnam.
Since January 2024, Equistone’s Asia-Pacific investment management department has been actively communicating with Vietnamese financial institutions, regularly contacting the Vietnam Stock Exchange and contacting major asset management companies in Vietnam. At the same time, it is planning to open the Equistone Partners Asia Fund I with a value of 2 billion euros.
In order to attract more institutional and individual investors and open up the Vietnamese market as soon as possible, Equistone Vietnam will organize the project “Equistone Vietnam – Reaching the world” for Vietnamese investors starting from 2023 and is expected to be held twice a year.
In November 2023, we successfully held the first phase and the income of individual investors reached more than 78%.
We will hold the second year of “Equistone Vietnam – Reaching the World” from October 2024 and the expected income will reach 160% in 2024.
With the successful launch of two quarters of the “Equistone Vietnam – Reaching the World” Project, we have enough confidence in expanding the Vietnamese market and also see the potential of the Vietnamese market, which will have a positive impact on the Vietnamese stock market in 2024.
The macro economy is stable and increasingly diversified, with a booming manufacturing sector, largely driven by FDI. Vietnam remains an attractive destination for foreign investment, particularly in manufacturing, as businesses continue to diversify their operations across the region.
Vietnam as an attractive FDI destination in Southeast Asia thanks to its young, increasingly educated and competitive workforce, which will help sustain long-term growth.
Vietnam is also seen as becoming a digital hub, driven by dynamic collaboration between global investors and local tech innovators.
According to the ranking, Vietnam ranks second in digital economic development in the world. The World Bank believes that Vietnam’s digital economy is expected to exceed 43 billion USD by 2025 thanks to the continuous focus on promoting information and communication technology, including AI integration initiatives.
Looking ahead to the final months of 2024 and into 2025, Equistone maintains a positive outlook for Vietnam’s stock market, supported by several key factors such as the global market entering a new monetary easing cycle, fueled by recent actions from the US Federal Reserve (Fed) and the People’s Bank of China (PBoC).
Vietnam’s economic outlook for the remaining months of 2024 remains optimistic, bolstered by a 6.42% GDP growth in the first half of the year, surpassing the government’s initial target. Several international financial institutions have revised up their GDP growth forecasts for Vietnam. HSBC, for example, has raised its forecast to 6.5% from 6% previously, while Citibank and Shinhan Bank have raised their estimates to 6.4% and above 6%, respectively. This positive macro trend is expected to have a positive impact on corporate profits in the next 1-2 quarters.
Equistone VN offers three scenarios for Vietnam’s stock market at the end of the year, in which the base scenario is that the Fed will cut interest rates once more in the second half of 2024; DXY will fall below 102 after the Fed cuts interest rates; Exports will grow by 10-12% in 2024; Credit growth will reach 14% in 2024, slightly lower than the SBV target.
For 2025, Equistone VN forecasts that the Fed is expected to cut interest rates 3 times in 2025; USD strength The DXY index weakens following the FED’s interest rate cut trend. Domestically, economic growth continues to improve. Vietnam’s GDP is forecast to grow by 6.5-7.0% in 2025, driven by domestic consumption and private sector investment.
It is forecasted that the profits of listed companies on the HOSE will grow by 15-17% in 2025 thanks to the positive improvement trend of the economy. VN-Index will reach 1,500 – 1,600 points by the end of 2025, (14.8x P/E; ~ equivalent to the average P/E of 5 years), the growth potential of VN-Index is 17-18.5%.
Therefore, we have made an important decision to launch the second quarter phase of the project “Equistone Vietnam – Reaching the world” from October 2024.
Daily transaction fees on Solana have cooled significantly from record highs reached last month, providing bearish cues to the SOL token.
As the U.S. presidential election approaches, markets are betting on wild price swings that could challenge directional traders. In light of this, 10x Research suggests a savvy pair trade involving market leader bitcoin (BTC) and programmable blockchain Solana’s (SOL) token as a tactical bet to navigate the expected election-led turbulence.
“A tactical trade heading into the election could involve going long bitcoin and short solana,” Markus Thielen, founder of 10x Research, said in a note to clients on Monday.
Thielen explained that the election’s outcome would have far-reaching implications for digital assets, including potential approval of a U.S.-based exchange-traded fund (ETF) tied to alternative cryptocurrencies, such as SOL.
“If Harris wins, the likelihood of these ETFs getting approved may decrease, potentially leading to a 15% drop in solana, while bitcoin might experience a more limited decline of around 9%,” Thielen said, adding that a Trump victory could see SOL, BTC and ether rise by around 5%.
BTC and ETH might see bigger gains than SOL on potential Trump victory, as spot ETFs tied to bitcoin and ether are already trading in the U.S. and have amassed billions of dollars in investor money this year. The availability of an alternative investment vehicle might translate into bigger gains in anticipation of favorable regulatory policy under Trump’s presidency.
SOL has yet to get its first spot in ETF. As of today, VanEck, 21Shares and Canary Capital have filed for SOL ETFs with the U.S. SEC.
The U.S. will head to vote to elect its new president in a few hours. Per the latest reports, the presidential race is tight, with Democrat Kamala Harris and the supposedly crypto-friendly Donald Trump running neck and neck in several swing states.
According to Thielen, another reason to be short SOL is that daily transaction fees on the Solana network have cooled to $2.5 million, hitting a record high of $5 million on Oct. 24, according to data source Artemis and TokenTerminal. Similar drop-offs in fees have historically weighed over the token prices.
As of writing, the SOL-BTC ratio traded at 0.00235 on Binance, per charting platform TradingView.
The Bitcoin hashrate, on a seven-day moving average, hit a record high of 755 EH/s last week.
Bitcoin’s (BTC) mining difficulty hit an all-time high of 101.65 trillion (T) Monday, adding to pressure on smaller miners, who may not have as much cash available as their publicly traded rivals to keep their rigs going.
Mining difficulty measures how hard it is to discover new blocks on the Bitcoin blockchain. The network automatically adjusts every 2,016 blocks, or roughly every two weeks. This year, difficulty has adjusted 23 times, almost 60% of the time has seen a positive adjustment which makes the process harder. The higher the difficulty, the more strain on the mining industry to produce a block.
As mining is an extremely competitive and capital-intensive industry, smaller or private companies, whose access to cash may be more constrained than their publicly traded rivals, might need to sell their bitcoin production to fund operations.
Hashrate hits all-time high
Bitcoin’s hashrate hit a record high on a seven-day moving average of 755 EH/s last week. Hashrate is the computational power required to mine and process transactions on a proof-of-work blockchain. At the end of October, hashrate surged almost 12% in one day, one of the biggest rises year-to-date, according to Glassnode data.
Miners are, on average, spending 100% of the total mined supply. In October, there was a brief period of miners retaining a portion of their bitcoin, adding to treasury reserves after a massive depletion in August and September.
In this current epoch, miners are mining, on average, 450 bitcoin a day. If the whole lot is sold, that amounts to roughly $31.5 million of sell-side pressure.
Overall, this shows that miners are currently in a relatively healthy spot. The less they spend on the mined supply, the less sell-side pressure occurs.
Heavy rains in Da Nang have triggered significant flooding across roads and residential areas, with some locations at risk of landslides and flash floods. In just six hours (from 1:00 a.m. to 7:00 a.m. on November 5), the city recorded rainfall amounts between 60 and 200 mm, and intense rain is expected to continue. Flooding on low-lying roads has already caused major traffic disruptions, with authorities closing some streets due to safety concerns, particularly in the Hoa Thuan Tay area where local forces have evacuated residents from flooded homes.
Image of flooding due to rain at Ton Duc Thang Street, Lien Chieu, Da Nang this morning.
Regions in the city, including Son Tra, Lien Chieu, and Hoa Vang districts, are on high alert due to landslide and flash flood risks. Early reports indicate several streets, such as Le Duan and Tran Cao Van, are partially submerged, and access to Son Tra Peninsula has been restricted as a precaution.
Da Nang’s Department of Education has advised schools to suspend classes due to extensive flooding across the city. Mayor Le Trung Chinh has urged local departments and authorities to monitor weather alerts closely, prepare for emergency response, and keep residents informed, especially those living near the Tuy Loan and Cu De rivers. The city is also focusing on relocating residents from areas highly susceptible to deep floods, flash floods, and landslides, with emergency supplies and equipment on standby.
The way to the Intercontinental Hotel this morning.
The city remains on high alert for potential flash floods, landslides, and severe environmental impacts, with threats to life, infrastructure, and economic activities.
Cybersecurity is the capability of protecting systems, networks, and data from electronic attacks. These attacks will lead to data breaches and identity theft, besides bringing financial loss. Organizations face many challenges in maintaining high-security measures:
Sophistication of Attacks: Cybercriminals keep on inventing new ways through which they can bypass security systems.
Volume of Data: Daily data generation is too immense for human analysts to observe and respond accordingly.
Skill Shortages: Most companies are struggling to identify the right cybersecurity experts.
Complexity of IT Environments: Companies often operate in very complex systems with many devices and operating systems, and therefore securing it completely is a herculean task.
How AI Enhances Cybersecurity
AI technology can make cybersecurity much stronger by automating procedures, analyzing large volumes of data, and identifying potential threats before they have the chance to become problematic. There are various ways AI enhances cybersecurity measures, including the following.
1. Real-Time Threat Detection
With their sensitivity towards minute changes in real time, AI algorithms can see an unusual pattern in any kind of network traffic within real time and alert based on the threat of some kind of cyber attack by taking a baseline of general normal behavior. AI’s speedy identification of anomalies sets up an alarm for alerting security teams.
Behavioral Analysis: AI does continuous monitoring of user’s activities and flags deviations where they may suspect malicious action
Anomaly Detection Machine learning models can identify irregular data access or network activity.
2. Automated Response Mechanisms
AI-based systems can automatically respond to the threats identified. It enables organizations to respond promptly in case of a potential breach without waiting for a human response.
Incident Response Automation: AI can automate pre-programmed responses for specific types of threats, such as the isolation of affected systems or blocking suspicious IP addresses.
Threat Containment: AI reduces damage during an ongoing attack by automating containment processes.
3. Vulnerability Management
The infrastructure of an organization can have weaknesses detected by AI tools. They are always looking for vulnerabilities that could be attacked by hackers.
Proactive Scanning: AI will scan systems regularly to spot outdated software or misconfigured systems.
Risk Assessment: AI will assess the amount of impact that could be made by the vulnerabilities discovered and prioritize them according to risk levels.
4. Phishing Detection
Still one of the most frequently utilized phishing method attacks by cyberhackers, AI will surely upgrade the detection of this kind of attack by more developed algorithms, scanning e-mails by both content and context.
Filtering of E-mails : It is also a feature that evaluates an e-mail, whether it is full of phishing attempts or not. This happens due to the language pattern of the message and reputation of the sender. It might have even sensed suspicious clicks and downloads if it followed user activities through their emails.
5. Predictive Analytics
Predictive Ability: The AI would empower an organization with predictive threats based on historical data and trends.
Threat Intelligence: The past incident of attacks is studied by the AI so that it would trace the new emerging threat along with patterns which would probably be representing a potential future attack.
Risk Prediction Models: Through the help of machine learning algorithms, a firm would predict vulnerabilities well in advance of its seriousness
Benefits of Introducing AI into Cybersecurity
Advantages are overwhelming, although there are barriers when incorporating AI into a cybersecurity system:
1. Data privacy issues
The use of AI means handling massive amounts of sensitive data. In implementing AI solutions, the organization has to ensure that the implementation adheres to the requirements of data protection regulations.
2. Dependency on Quality Data
AI depends mostly on the quality of data analyzed. Bad or biased data might cause an erroneous assessment of the threat or even fail to notice a vulnerability.
3. Integration Complexity
Integration of AI with the pre-existing cybersecurity framework is time and resource consuming. Significant investment is required in training and preparing the workforce for potential incompatibility with currently implemented systems.
4. False Positives
An AI system can give out false positives—raising threats when legitimate activities are not so. These may attract unwanted investigations or cause a form of disruption.
Emerging Trends in AI and Cybersecurity
The role that AI will play in Cybersecurity is only bound to evolve as technology does;
1. More widespread Adoption of Machine Learning
Organizations will increasingly be embracing machine learning models that are improving their ability to predict and respond to cyber threats based on historical data analysis.
2. Explainable AI (XAI)
The need for explainable AI solutions is increasing as people look for transparency about how decisions are made within AI systems. This transparency will help build the trust of users and stakeholders.
3. Human-Machine Collaboration
Human analysts and AI systems will collaborate more in the future. While AI will perform routine tasks, human judgment will be required for high-level decision-making processes.
4. Focus on Threat Hunting
Organizations will focus on proactive threat hunting using AI tools that monitor the network continuously for signs of potential breaches before they happen.
Conclusion
AI has transformative capabilities to enhance cybersecurity across various disciplines. Automation and precision in threat detection through live response help organizations anticipate emerging cyber attacks. However, issues with data privacy, complexity of integration, and dependence on quality data pose aspects that need major enhancement by business houses to make proper utilization of AI in cybersecurity feasible.
Related to the sophisticated nature of emerging cyber threats, AI will play a great role in cybersecurity strategies involving safety of sensitive information as well as generating trust in the digital arena. The organisations embracing this kind of technology would not only boost their security posture but also place them at an edge as far as combatting cybercrime is involved.
Understanding what artificial intelligence plays in the world of cybersecurity today will enable businesses to prepare for a safer digital future tomorrow.
The pedalo activity on Xuan Huong Lake (Da Lat City) has been temporarily suspended after nearly 30 years of operation.
Currently, the duck pedal boat activity on Xuan Huong Lake has been temporarily suspended pending bidding. Photo: n.tbinhh.
In addition to walking or renting electric cars to tour Xuan Huong Lake (Da Lat, Lam Dong), many tourists opt for a pedalo experience to fully enjoy the romantic scenery and the cool breeze on the lake. This activity has been running for almost 30 years within the protected area of the Xuan Huong Lake waterworks.
Currently, three businesses organize the pedalo activity on Xuan Huong Lake: Da Lat Urban Services Joint Stock Company, Lam Dong Tourism Joint Stock Company’s Da Lat branch (Thuy Ta Restaurant), and Nguyen Tran Anh Duy’s business, with a total of 95 pedal boats . Each dock includes at least one rescue canoe. However, all pedal boats are now docked and out of service due to a lack of permits.
According to the Water Resources Law, businesses need permits to operate on waterworks like Xuan Huong Lake. Thus, the Da Lat People’s Committee has forced these businesses to suspend their activities and complete the necessary paperwork for licensing. Previously, these businesses submitted applications to Lam Dong Province’s Department of Agriculture and Rural Development but have yet to receive permits.
Many young people still enjoy this “quite old” experience. Photo: nnnn_2707, th.yen.nguyen.
Speaking with Tri Thuc – Znews, a representative from Da Lat’s Department of Culture and Information stated that the three pedalo businesses previously operated under a rental agreement. However, this arrangement does not comply with regulations, as state-owned assets must be auctioned publicly to ensure fairness.
The pedalo activity on Xuan Huong Lake has been a popular, family-friendly attraction for nearly 30 years, especially for families with children or groups of friends. Participants use their feet to pedal, similar to cycling, steering the boat to the center of the lake to take in the scenery and enjoy the cool breeze. There are small pedal boats for two people and larger ones for five, with all passengers required to wear life vests.
To resume pedalo rides on Xuan Huong Lake, Da Lat City is currently seeking approval from Lam Dong Province for a public auction. The winning company or investor will be granted permission to operate and serve tourists. For now, the pedal boats remain docked, awaiting approval to resume operation.
To ensure visitor safety, Bidoup-Nui Ba National Park has temporarily closed the hiking trail up Lang Biang Mountain following several incidents of tourists getting lost at night.
Illustration: Dang Huy
Recently, leaders of Bidoup-Nui Ba National Park (Lam Dong Province) announced the temporary suspension of the hiking trail to the summit of Lang Biang (2,167m) to secure visitors.
The Lang Biang area features multiple paths leading to the summit, and prolonged heavy rains in recent days have made the trails increasingly hazardous. Some sections have experienced landslides, with the added risk of falling trees, posing potential dangers to hikers.
The rainy season has also made the journey to Lang Biang’s summit more challenging, with early nightfall and thick fog making it easy for visitors to lose their way and difficult to navigate. In the light of these conditions, Bidoup-Nui Ba National Park has decided to temporarily close the trail to Lang Biang.
Park officials indicated that reopening the trail will be considered once improved weather conditions.
Earlier, in July 2024, many tourists attempted to hike without following instructions, leading to some getting lost and requiring rescue operations. To prevent further incidents, the management has placed warning signs along trails and advises visitors to avoid self-guided hikes for now.
