The CEO of Aeon Vietnam has stated that the company is constantly seeking partnerships with real estate developers to open more general merchandise stores and supermarkets.
Aeon Ta Quang Buu is located in Parc Mall. Photo: Aeon.
On September 26, Aeon Vietnam officially inaugurated the Aeon Ta Quang Buu General Merchandise Store and Supermarket in District 8, Ho Chi Minh City. The supermarket is located within the Parc Mall, developed by Van Thai Land.
Mr. Furusawa Yasuyuki, a member of Aeon’s Executive Board (Japan) in charge of the Vietnamese market and CEO of Aeon Vietnam, explained that the new model of Aeon Ta Quang Buu is part of the company’s strategy to expand and diversify its business models to meet the growing needs of Vietnamese consumers.
Previously, Aeon had launched other general merchandise stores and supermarkets within shopping centers developed by partners or located in residential areas and city centers, such as Aeon The Nine (Hanoi), Aeon New City (Binh Duong), and Aeon Nguyen Van Linh (Ho Chi Minh City).
According to Mr. Furusawa Yasuyuki, during more than a decade of development, Aeon Vietnam has continuously sought partners to expand its reach and increase “touchpoints” with customers. However, it is only in recent years that the company has found suitable retail real estate developers that meet its requirements.
He also pointed out that rising rental costs in shopping centers have posed a significant barrier to the expansion of this model. As a result, Aeon has had to work harder to find locations that fit within its budget.
“Aeon’s presence in shopping centers consistently attracts a large number of shoppers, not just to our stores but also to other brands within the same complex. This is a positive factor, so I hope that real estate developers in Vietnam will consider offering reasonable rental rates that allows for mutually beneficial cooperation,” added Mr. Furusawa Yasuyuki.
The executive noted that Aeon’s business saw a growth of around 15% in the first eight months of the year compared to the same period last year. However, he remains cautious about the year-end business outlook due to rising prices and tighter consumer spending.
In its long-term vision, Vietnam is seen as the second most important market for Aeon, alongside Japan, as part of the group’s overall strategy.
The United Nations World Tourism Organization (UNWTO) aims to emphasize the role of tourism in promoting peace with the theme “Tourism and Peace.”
By bringing together stakeholders from various sectors, World Tourism Day 2024 seeks to generate creative ideas and strategies to foster peace and reconciliation through tourism. Tourism increasingly plays a crucial role in promoting economic growth and innovation, while also bringing people closer together. It has the potential to contribute to peace in numerous ways, and these potentials need to be properly explored and evaluated.
The UNWTO also encourages entrepreneurship and innovative solutions, as tourism can create opportunities for young people and contribute to sustainable development. By investing in the youth, providing educational and training opportunities, and encouraging their active participation in the tourism sector, young talents can bring fresh perspectives, creativity, and the energy necessary for the continued growth of tourism as a force for good.
Ho Chi Minh City Waterway Tourism (Ho Chi Minh City Department of Tourism)
According to Graham Cooke, Chairman and founder of the World Travel Awards, Vietnam is not only a top tourist destination in Asia but also a global tourism representative with significant potential.
In the first eight months of 2024, Vietnam welcomed 11.4 million international visitors, up 45.8% compared to the same period in 2023, and up 1.0% compared to the same period in 2019, prior to the COVID-19 pandemic. In August 2024, despite being the low season, international arrivals reached over 1.4 million, a 17.7% increase compared to the previous year, indicating positive signs for the tourism industry.
World Tourism Day, celebrated annually on September 27 since 1980, is an opportunity to raise global awareness about the significance of tourism.
After nearly a year of suspension, the Can Tho – Phu Quoc flight route will be reopened starting October 28, with five round-trip flights per week.
Recently, a representative from the Southern Airports Authority in Can Tho announced that the Can Tho – Phu Quoc flight route will officially resume operations on October 28, 2024.
Specific, there will be five round-trip flights per week on Mondays, Tuesdays, Wednesdays , Thursdays, and Saturdays. The Can Tho – Phu Quoc flight departs at 10:40 AM, while the Phu Quoc – Can Tho flight departs at 12:15 PM. Each flight takes over an hour, depending on weather conditions.
Vietnam Airlines will operate the route using ATR 72 aircraft, which can accommodate around 72 passengers.
In November 2023, Bamboo Airways, the only airline operating the Can Tho – Phu Quoc route, withdrawing from this service, leaving the route inactive until now.
A representative from the Southern Airports Authority in Can Tho stated that the reopening of the Can Tho – Phu Quoc route will help promote tourism and trade development between the two localities.
The 2024 Wild Sunflower – Chu Dang Ya Volcano Week is scheduled to take place from November 6 to 12 at the Ia Gri village communal house yard and the area surrounding the Chu Dang Ya Volcano, Chu Pah district, Gia Lai province.
This year’s event will feature 11 main activities, including gong performances, Xoang dancing, bamboo weaving, statue carving, musical instrument crafting, showcasing traditional brocade clothing, cultural artifacts, local handicrafts, and indigenous products. The celebration will also include a recreation of the Jrai people’s new rice ceremony, along with rice pounding demonstrations.
Wild sunflower season at Chu Dang Ya volcano. Photo: Nguyen Tan Kan
In addition, visitors can participate in sports competitions like stick pushing, stilt walking, tug-of-war, and sack jumping. Traditional games will be offered for tourists to experience, and a photo exhibition highlighting the province’s cultural heritage and tourism potential will be on display. The program will also feature a competition to conquer the summit of Chu Dang Ya Volcano, as well as contests for bamboo weaving and traditional brocade weaving.
Furthermore, during the Wild Sunflower – Chu Dang Ya Volcano Week, there are plans for hot air balloon flights, offering panoramic views of Chu Nam Mountain, Chu Dang Ya Volcano, and the scenic city of Pleiku from above.
At this time, the 2024 half marathon “Awakening Chu Pah’s Countryside – A Journey Connecting Mountains and Flowers” will also take place, with race distances of 21km, 10km, 5km, and 2km on a mixed course that combines road and trail running, through city streets, trails, and hills.
Chu Dang Ya volcano seen from Chu Nam peak. Photo: Nguyen Hong Son
Located about 30 kilometers northeast of Pleiku city center, Chu Dang Ya Volcano in Chu Pah district stands approximately 975 meters above sea level. According to archaeologists, Chu Dang Ya is a volcanic crater formed by lava flows millions of years ago.
Although it has been inactive for millions of years, the remnants of volcanic lava have made the land around Chu Dang Ya fertile. Local people have taken advantage of this fertile soil to cultivate a variety of crops, including arrowroot, corn, pumpkins, and sweet potatoes. Chu Dang Ya is at its most beautiful during the wild sunflower season when the entire mountain is covered in a brilliant golden yellow, stretching from the hillsides all the way to the crater.
Ca Mau province has announced a budget of over VND 860 billion to acquire land, expand, and upgrade Ca Mau Airport.
Ca Mau invests more than VND860 billion to expand and upgrade the airport. Photo: VNA
On September 26, Nguyen Duc Thanh, Director of the Ca Mau Department of Planning and Investment, stated that the province plans to allocate over VND 860 billion for land clearance, expansion, and upgrading of Ca Mau Airport. The project aims to promote tourism, trade, and attract investments in the near future.
The project will be implemented in 2024 and 2025, utilizing the province’s medium-term public investment funds. Approximately 105.2 hectares of land in Ward 6 and Tan Thanh Ward will be acquired for the airport upgrade.
In 2024, Ca Mau province will focus on completing investment procedures, surveying, compensating, and handling over part of the land to ensure that the airport upgrade project can begin as soon as possible.
The province will continue the compensation, resettlement, and support procedures, aiming to hand over the entire site to the Airports Corporation of Vietnam (ACV) by the first quarter of 2025.
According to survey, nearly 750 households and five organizations will receive resettlement and livelihood support. The Ca Mau People’s Committee has issued authorities to implement compensation, support, and resettlement policies in a transparent and public manner.
The Department of Natural Resources and Environment will develop a land clearance plan, prioritizing stable living conditions for residents, particularly regarding housing and production needs.
Tran Quang Tan, 51, his wife Le Thi Oanh, 44, and their son-in-law Nguyen Manh Dat, 26, were found guilty of working at a restaurant in Mong Kok earlier this year, according to the SCMP. Tan owned the establishment, while Oanh and Dat worked there illegally.
The trio, illegal immigrants in Hong Kong, admitted to selling dog and cat meat at the restaurant during their trial on Friday.
Authorities raided the premises in February following a tip-off from an undercover officer. They discovered several Vietnamese nationals at the location, which contained a kitchen, cooking utensils, Vietnamese-language menus for dog and cat meat dishes, and business records, as reported by Dimsum Daily.
During the search, 34 bags of animal flesh, believed to have been smuggled into Hong Kong by boat, were found. Prosecutors stated that the bags contained dog and cat meat.
Tan and Oanh were found to have either managed bills or prepared food in the kitchen, according to court testimonies. Their son, Tran Nhat Minh, was also accused of assisting but pleaded not guilty.
The sale and slaughter of dog and cat meat are prohibited in Hong Kong, with violators facing up to six months in prison.
Additionally, illegal immigrants in Hong Kong are barred from any form of employment or starting businesses, offenses that can result in prison sentences of up to three years.
While Vietnam does not ban the consumption of dog meat, the government is taking steps to curb the practice. Hoi An, a popular tourist town in central Vietnam, began phasing out dog and cat meat in 2021 to eliminate rabies and create a tourist-friendly environment.
In Hanoi, several dog and cat meat establishments have been shutting down as the capital moves away from this practice. The Hanoi Department of Animal Health reported in 2018 that the number of dog and cat meat shops in Hanoi had dropped from 1,100 to around 800.
No luxury car brands will participate in the upcoming Vietnam Motor Show 2024, as high-end automakers shift towards alternative promotional strategies. Volvo, the last luxury brand considering attendance, has now confirmed its absence, following earlier withdrawals by Volkswagen, Audi, Mercedes, Lexus, and Porsche.
While luxury brands have traditionally been part of the show, industry experts say these automakers are now focusing on hosting exclusive events that directly engage their target customers.
From October 23-27, VMS 2024 will feature 19 car and motorbike brands, including Toyota, Mitsubishi, and Honda. First-time exhibitors such as GAC, Skoda, BYD, and UM Motorcycles will also join. The event is expected to spotlight electric vehicles, with BYD as the only fully electric car brand. Other manufacturers are anticipated to showcase various hybrid models, ranging from mild to full hybrids.
The Vietnamese car market has seen rapid growth in recent years, with increasing demand for a wide range of vehicles, from affordable compact cars to luxury models. With a rising middle class and a growing appetite for automobiles, Vietnam’s auto sales surged by 30% in 2022, despite global supply chain disruptions. Japanese brands such as Toyota, Mitsubishi, and Honda continue to dominate the market, while domestic carmaker VinFast is making strides, particularly in the electric vehicle segment.
However, luxury car sales have remained niche, targeting the country’s affluent population. The shift away from large-scale auto shows like VMS reflects a broader trend of luxury brands opting for more tailored and personalized marketing strategies to directly connect with their high-net-worth clients.
As Vietnam emerges as a top destination for foreign investment, understanding how to establish a company in the country is critical for international investors. GBS – Global Business Services LLC, a leading legal and business consultancy, provides expert guidance on navigating Vietnam’s company formation process.
Here is a step-by-step guide to help foreign investors successfully set up their business in Vietnam.
1. Choose the Right Legal Structure
Foreign investors can establish their business presence in Vietnam through several legal forms. The most common options are:
Limited Liability Company (LLC): Suitable for investors who prefer to limit liability to their capital contribution.
Joint-Stock Company (JSC): Ideal for larger enterprises, especially those planning to list shares publicly.
Partnership: Typically chosen for professional firms, such as law firms or consulting practices.
How GBS Helps: GBS assesses your business objectives and investment strategy to help you choose the most appropriate legal structure that aligns with your long-term goals.
2. Name Your Company
Vietnam has specific regulations for naming a company. The name must be in Vietnamese, using characters from the Vietnamese alphabet, though it may also include the letters F, J, Z, and W, along with numbers and symbols. Importantly, the company’s legal form (e.g., LLC, JSC) must be part of the official name.
How GBS Helps: GBS ensures your chosen company name complies with local regulations while supporting flexibility in your branding strategy.
3. Understand Capital Requirements
For most business sectors in Vietnam, there is no minimum capital requirement. However, certain regulated industries—such as banking, real estate, financial services, and international tourism—do require a specific minimum level of capital investment.
How GBS Helps: GBS provides detailed guidance on capital requirements, ensuring you meet industry-specific regulations without overcapitalizing your venture.
4. Appoint a Legal Representative
Every company in Vietnam is required to appoint a legal representative who is authorized to enter into transactions and perform duties on behalf of the company. The representative must reside in Vietnam. If the representative travels abroad for more than 30 days, they must delegate their responsibilities to someone in the country.
How GBS Helps: GBS assists in appointing a qualified legal representative, guiding you through the selection process and ensuring compliance with residency requirements. For representatives frequently abroad, GBS advises on delegation procedures to maintain business continuity.
5. Select Your Business Lines
In Vietnam, companies can operate in one or more sectors, but some industries are classified as “conditional” for foreign investors. In these sectors, participation is restricted based on factors such as the nationality of the investor, the form of investment, or professional expertise.
How GBS Helps: GBS identifies the appropriate business lines for your company and ensures you meet the specific requirements for conditional sectors.
6. Register a Physical Office
Vietnam requires all companies to have a registered physical office address. This office serves as the official location for business activities and must be provided to the licensing authority during the incorporation process.
How GBS Helps: GBS supports you in finding and registering a suitable office address that complies with legal requirements and serves as a base for your operations.
7. Apply for the Investment Certificate
Once you have the necessary documentation, the next step is to apply for an Investment Certificate. The process varies depending on the scale of investment:
For companies with invested capital below 300 billion VND (approximately 15 million USD) and operating in non-conditional sectors, registration generally takes around 15 working days.
For larger or regulated investments, an in-depth evaluation is required, taking between 30 and 45 working days. This process involves an assessment of the entire investment project by the licensing authority.
How GBS Helps: GBS manages the entire application process on your behalf, from preparing documents to liaising with licensing authorities. Our goal is to ensure your Investment Certificate is approved in the shortest time possible.
8. Why Work with GBS?
The process of setting up a foreign-owned company in Vietnam can be complex and time-consuming. GBS simplifies the entire procedure, providing expert advice and tailored services to meet the unique needs of each investor. With extensive experience in Vietnam’s legal and business environment, GBS helps you avoid delays and costly mistakes, ensuring your company is set up for long-term success.
For more information on how to establish a company in Vietnam or to get personalized assistance, please visit https://gbs.com.vn or contact Sophie Dao, Senior Partner at GBS via email: sophie@gbs.com.vn mobile: +84903189033
On September 26, a passenger on Vietjet Thailand flight VZ961 from Da Nang to Bangkok falsely reported a bomb on board. The crew immediately implemented safety protocols and alerted security at Suvarnabhumi Airport in Bangkok.
Upon landing, the plane and all luggage were thoroughly inspected, and authorities confirmed there was no bomb. The passenger who made the false claim, a Polish woman, was detained and will face legal action. The incident did not disrupt airport operations, and all passengers and crew proceeded with standard arrival procedures.
Flight VZ961 had 121 people on board, including one infant and six crew members. Thailand’s law mandates severe penalties for those who spread false threats, with potential imprisonment of up to 15 years and fines up to 600,000 baht (approximately $18,500).
High-speed rail is considered an advanced form of public transportation worldwide. Experts agree that constructing a high-speed railway along the North-South axis is essential and aligns with Vietnam’s current socio-economic development needs. Key factors supporting this project include high travel demand between the North and the South, the railway’s competitive advantages over other modes of transport, and Vietnam’s improved financial capacity, making the project viable.
The proposed high-speed railway will connect Ngoc Hoi station in Hanoi to Thu Thiem station in Ho Chi Minh City, passing through 20 provinces and cities. The route will include 23 stations, spaced an average of 67 km apart, with five freight stations linked to major logistics hubs. The goal is to complete and launch the railway by 2035.
“Currently, the highest rail speeds globally exceed 500 km/h, averaging around 380 km/h. However, due to Vietnam’s complex terrain, particularly the steep slopes in the Central region, building for such high speeds could raise safety concerns, especially during floods and storms. The decision to cap speeds at 350 km/h is, therefore, a wise and safe choice,” stated Dr. Le Xuan Nghia, a member of the National Monetary and Financial Policy Advisory Council.
Regarding funding, experts believe the government can secure the necessary capital through bonds and other financial channels without significantly impacting public debt. To ensure the project’s success, synchronized policies are required, such as addressing land clearance compensation, closely monitoring the design and construction phases, and involving modern technology companies.
“Vietnam’s financial system now exceeds $600 billion. Each year, the government issues $6 billion in bonds, just 1% of total assets—a small fraction compared to our financial capacity. We have never been in a better financial position to undertake such projects. Additional funding sources, such as local project bonds, can also be considered. But the main source of capital can come from government bonds,” Dr. Nghia emphasized.
The project management board must handle land clearance and compensation transparently and fairly, ensuring the rights of affected people are respected. Effective management and oversight systems are essential during construction, along with the integration of modern technology. Collaboration with technology firms is also necessary, creating mechanisms for risk-sharing and benefit-sharing with top contractors.
Countries across Asia have experienced significant social and economic development through high-speed rail networks. Recognizing this trend and the need for early investment, the Central Executive Committee has directed the Government Personnel Committee to expedite project documentation and submit it for consideration at the 8th session of the 15th National Assembly. Careful planning and timely execution will be crucial to avoid delays similar to those experienced with elevated railway projects in Hanoi and Ho Chi Minh City.
Navigating the UK visa process can be a daunting endeavour for Vietnamese students. With numerous requirements and strict regulations, understanding the nuances of the visa application can become overwhelming.
This blog aims to shed light on the common challenges faced by Vietnamese students and offer practical solutions to help ease the journey. For comprehensive guidance, consider seeking professional advice and more information on the tier 4 student visa.
Understanding Visa Requirements
A major challenge for Vietnamese students is grasping the complex visa requirements imposed by the UK. These requirements often include proof of adequate financial resources, English language proficiency, and a confirmed offer from a recognised educational institution. Misunderstandings or oversights in meeting these requirements can lead to delays or even visa denials.
Financial Proof
One of the primary considerations is demonstrating financial stability. Students must provide evidence that they can cover their tuition fees and living expenses while studying in the UK. This often involves submitting bank statements or financial guarantees. Ensuring all documents meet the specified criteria is crucial to avoid any complications.
English Language Proficiency
Proving English language proficiency is another critical step. Vietnamese students must pass an approved English language test, such as IELTS. The required scores can vary based on the course and institution. Preparation and timely scheduling of these tests are essential to meet the visa application deadlines.
Documentation Challenges
Accurate and thorough documentation is pivotal in the visa application process. Missing or incorrect documents can result in severe setbacks. Common documentation issues include:
Incomplete application forms;
Incorrectly translated documents;
Outdated or inconsistent information;
It is advisable to double-check all documentation and seek professional assistance if needed.
Application Timing
The timing of the visa application is another critical factor. The UK visa process can be time-consuming, and students must adhere to specific timelines. Applying too late can jeopardise the chances of receiving the visa on time, causing disruptions to the academic schedule.
Early Preparation
Starting the visa application process early is highly recommended. This includes gathering necessary documents, preparing for English language tests, and arranging financial proof. Early preparation can help mitigate unexpected delays and provide ample time to address any potential issues.
Another significant hurdle in the UK visa process is the interview stage. Many Vietnamese students find this phase particularly stressful, as it involves direct questioning by visa officers. The purpose of the interview is to confirm the authenticity of the application and to ensure that the student’s intentions align with the visa’s purpose.
Preparation Tips
Preparing for the interview is crucial. Students should be ready to discuss their educational plans, reasons for choosing their specific course and institution, and their financial situation. Practising common interview questions and maintaining a calm, confident demeanour can significantly enhance the chances of a successful outcome.
Unexpected Financial Hardship
Financial planning is a critical element of studying abroad, but unexpected circumstances can arise. Changes in personal or family financial situations can create significant stress and complications for students. In such cases, it’s important to know where to turn for assistance.
Adapting to a new culture and social environment can be challenging for Vietnamese students. The cultural differences between Vietnam and the UK can be stark, affecting everything from communication styles to educational practices. This adjustment period can impact a student’s overall well-being and academic performance.
Building a Support Network
To ease the transition, it’s beneficial to build a robust support network. Engaging with student organisations, joining cultural societies, and seeking support from international student services can help Vietnamese students feel more at home. Building friendships and connections with fellow students can also provide emotional support and practical advice on navigating life in the UK.
Understanding Immigration Policies
Keeping abreast of immigration policies is essential for Vietnamese students. UK immigration laws and policies can change, and staying informed about these changes can prevent potential issues with visa status. It’s important to regularly check official websites and reliable sources for updates.
Handling Rejections and Appeals
Despite meticulous preparation, visa rejections can still occur due to various reasons such as insufficient documentation, failure to meet financial requirements, or suspicion of fraudulent activity. Understanding how to handle a visa rejection is crucial for Vietnamese students.
In the event of a visa refusal, it’s important to carefully review the reasons provided by the visa office. Students have the right to appeal the decision or to reapply with the necessary corrections and additional information. Seeking professional advice can be beneficial in navigating the appeals process effectively.
Common Challenges Vietnamese Students Face in the UK Visa Process…
While the UK visa process presents several challenges for Vietnamese students, understanding and addressing these issues can significantly enhance the likelihood of a successful application.
Thorough preparation, timely action, and seeking reliable support and information are key to overcoming these obstacles. By staying informed and proactive, Vietnamese students can embark on their educational journey in the UK with confidence and clarity.
A Federal Bureau of Prisons rule states that an inmate whose release date falls on a Saturday, Sunday, or legal holiday, may be released on the last preceding weekday.
Binance founder Changpeng “CZ” Zhao, could be released on Friday, two days ahead of his scheduled release date of September 29th (Sunday), according to an interpretation of the law.
The U.S. Department of Justice’s Federal Bureau of Prisons rule states that “The Bureau of Prisons may release an inmate whose release date falls on a Saturday, Sunday, or legal holiday, on the last preceding weekday unless it is necessary to detain the inmate for another jurisdiction seeking custody under a detainer, or for any other reason which might indicate that the inmate should not be released until the inmate’s scheduled release date.”
The decision may depend on the discretionary authority given to Wardens. The Bureau of Prisons did not immediately respond to a request for clarification and comment sent outside of office hours from CoinDesk.
CZ was sentenced to four months in prison in April after pleading guilty to violating the Bank Secrecy Act by failing to set up an adequate know-your-customer (KYC) program at Binance.
If released on Friday, CZ would have spent 116 days in prison. He spent three months at a low-security prison, Lompoc II, on California’s central coast before being moved to a halfway house in San Pedro, California in late August.
“We are delighted that CZ will be home with his family. While he is not managing or operating Binance, we are excited to see what he does next,” a Binance spokesperson said. “Since last year, Binance has continued to thrive under the leadership of our current team, surpassing 230 million users globally.”
U.S. President Joe Biden said “to counter Russian sanctions evasion and money laundering, the Department of Justice, the Department of the Treasury, and the U.S. Secret Service have taken action today to disrupt a global cryptocurrency network, in coordination with international partners.”
Russian nationals Sergey Ivanov and Timur Shakhmametov have been charged for their involvement in operating money laundering services that catered to cybercriminals using cryptocurrencies, U.S. authorities announced on Thursday.
The U.S. Department of State has announced rewards amounting to $10 million each for information leading to the arrests of Shakhmametov and Ivanov.
U.S. authorities also seized websites associated with three illicit cryptocurrency exchanges, in what was termed a “coordinated international effort” involving authorities in the Netherlands, Latvia, Germany, U.K, Europol, and multiple U.S. agencies. The websites relate to Russia linked payment and exchange platforms Cryptex.net, UAPS, PinPays, and PM2BTC.
A statement from U.S. President Joe Biden on U.S. support for Ukraine said “To counter Russian sanctions evasion and money laundering, the Department of Justice, the Department of the Treasury, and the U.S. Secret Service have taken action today to disrupt a global cryptocurrency network, in coordination with international partners.”
Ivanov conducted transactions worth over $1.15 billion in value in the past 11 years. He was charged with one count of conspiracy to commit bank fraud for providing payment processing support to the carding website Rescator and one count of conspiracy to commit money laundering for carding website Joker’s Stash. The unlawful use of stolen credit and debit card data for fraudulent purposes is known as “carding.”
Shakhmametov, known online as “JokerStash” and “Vega,” was charged with the same offences as Ivanov, but he also faces one count of conspiracy to commit access device fraud for his role in operating the carding website Joker’s Stash, which offered for sale data from 40 million payment cards annually.
“The two Russian nationals charged today allegedly pocketed millions of dollars from prolific money laundering and fueled a network of cyber criminals around the world, with Ivanov allegedly facilitating darknet drug traffickers and ransomware operators,” said U.S. Deputy Attorney General Lisa Monaco.
The operation involving the U.S. Secret Service saw the seizure of two website domain names used to support the cryptocurrency money laundering exchange “Cryptex.net,” where “37,500 transactions” amounting to $1.4 billion were made.
Vietnam has a long tradition of producing crafts, including decades-old household goods manufactured through generations from bamboo, rattan and palm leaves. As one of the world’s most well known artisans for handcrafted goods, also with a great variety of high-quality handmade materials the country is turning the tide and becoming a world leader in mass production as well as sustainability.
With a growing consciousness about the environment in Vietnam and around the world, artisans are designing with more eco-friendly materials. The emphasis on sustainability pays off in the sustainable materials like water hyacinth, seagrass, jute, and rattan that are so prevalent. Beyond environmental benefits, these materials enable the Vietnamese handicraft sector to maintain its competitiveness and relevance as a global player.
Vietnam’s Sustainable Handicraft Materials
This video is exploring a leading Vietnamese handicraft and home decor manufacturer, discussing the company’s use of sustainable materials, such as FSC-certified and recycled elements, and its competitive advantage in meeting European and American consumer demands.
Topics covered:
Blending traditional craftsmanship with modern home decor trends.
The rise of sustainable, eco-friendly products using natural and recycled materials.
Vietnam’s growing role in the global home decor market, surpassing China and Indonesia.
Here are some of the top natural materials that can be sourced locally and used to create stunning decorative and handicraft items.
Water Hyacinth
An aquatic invasive plant, water hyacinth, is helping Vietnam weavers create a thriving handicraft industry. Water hyacinth was once regarded as an enemy of the environment because when grown in water bodies, it also grows rapidly from their plants; but now the plant is becoming a valuable handicraft material.
Advantages of Using Water Hyacinth
There are a number of advantages to using this plant in composting, the main one being that water hyacinth is easily available as an abundant resource in many rural areas of Vietnam.
The plant’s fiber is very durable, and companies can rely on it to make quality products. It is also really versatile and can be used to make baskets, furniture, rugs or simply dried.
Examples of Water Hyacinth Handicrafts
Vietnamese artisans skillfully transform water hyacinth into a wide variety of products. From intricately woven baskets to large, hand-crafted furniture pieces, these goods are celebrated for their natural aesthetic and durability. Water hyacinth products are particularly popular in eco-conscious markets across the US and Europe, where consumers appreciate the sustainable and unique nature of these handicrafts.
Seagrass
Seagrass, a delicate seaweed, has long been a valuable resource for coastal communities in Vietnam. For generations, locals have harvested this versatile material and turned it into a variety of useful products including baskets, clothing and other woven items.
The conventional seaweed painting technique involves careful drying and weaving. Families pass this knowledge down through the generations, and each member contributes to these sustainable and environmentally friendly practices. Dried seaweed fibers are carefully woven on canvas, creating intricate patterns and functional objects.
Artificial seagrass offers far more environmental benefits than aesthetics. These materials are completely biodegradable, ensuring minimal impact on the ecosystem. Furthermore, seagrasses play an important role in carbon sequestration, carbon dioxide sequestration, and climate change mitigation. By embracing seagrass as a sustainable resource, coastal communities in Vietnam are contributing to a cleaner, healthier planet.
Jute and Rattan
Vietnamese artisans have traditionally utilized the abundance of jute and rattan in their crafts, harnessing the strength of these materials jute and rattan are highly adored for their unique tensile strength, which they provide it is central to the fabric of traditional Vietnamese handicrafts
Sustainable characteristics
Jute is known for its fast growth and low water consumption, and jute is grown without the need for pesticides This eco-friendly characteristic makes it ideal as the most sustainable craft. On the other hand, rattan is a renewable resource that can be harvested with minimal environmental impact, and helps to conserve forest areas Both fibers have incredible strength, flexibility and power weaving it into a collection of forms
Innovative uses in contemporary handicrafts
For centuries, jute and rattan have been the staple of Vietnamese home handicrafts, serving as the basis for a wide variety of products from functional textiles to sophisticated furniture and decorations. continues to be popular with international markets.
“Made in Vietnam” Exports
Global Demand for Vietnamese Handicrafts
The international demand for Vietnamese artisanal products has exhibited notable expansion in the past few years. This surge in interest can be largely attributed to the global trend towards environmentally responsible consumption, with consumers seeking sustainable and handcrafted items.
The exportation of Vietnamese handicrafts has registered substantial growth, particularly in key markets such as the United States and Europe. In the year 2020, the export value of these goods exceeded $2.5 billion, a figure that continues to ascend as the world’s demand for sustainable and handcrafted products remains on an upward trajectory.
Challenges of exporting from Vietnam
Despite favorable market conditions, Vietnamese artisans and export enterprises face significant challenges in the competitive global market.
One of the most pressing obstacles is adhering to international quality and environmental standards. Vietnamese exporters are implementing stringent quality control (QC) measures, from sourcing raw materials to final inspection, to ensure products meet the high expectations of foreign markets. They are also acquiring certifications for sustainability and ethical manufacturing to align with global demands.
Many Vietnamese factories struggle to scale production while maintaining competitive pricing, especially when competing against more established export markets like China.
To stay relevant, Vietnamese manufacturers need to continuously innovate their product designs, catering to ever-changing consumer tastes in international markets. Leveraging local craftsmanship and blending it with modern design trends helps Vietnamese exporters differentiate themselves from competitors in China, Indonesia, and beyond.
Vietnam is increasingly well-positioned to conquer new export markets in the home decor and handicraft sectors. With a strong focus on quality control, innovation, and supply chain resilience, the country is poised to outperform regional competitors like China, Indonesia, Thailand, and Cambodia, capturing a larger share of the global market.
Ninh Thuan will adjust the timing of the 6th Ethnic Cham Cultural Festival 2024, moving it from the end of September to December 2024.
Due to the ongoing complex weather patterns of rain and floods, as well as efforts to recover from the aftermath of Typhoon Yagi, the Ministry of Culture, Sports, and Tourism has agreed to delay the event.
Image of Cham people in Thuan Nam district, Ninh Thuan province. Illustration photo: DucHieuMedia
Originally planned to take place in Phan Rang-Thap Cham from September 27 to 29, the festival, themed “Preserving and Promoting the Cultural Identity of the Cham People in the Era of National Integration and Development,” would have involved the participation of provinces such as Binh Dinh, Phu Yen, Binh Thuan, An Giang, Tay Ninh, Quang Nam, Da Nang, and Ho Chi Minh City.
The event is not only a cultural gathering but also an opportunity for the Cham people to showcase their unique cultural traits. Nearly a thousand artists, artisans, athletes, and performers, representing over 179,000 Cham people across the country, were expected to attend. The festival serves as a platform to honor and introduce the traditional cultural values of the Cham people to both domestic and international friends.
Additionally, the festival’s opening ceremony will include the announcement of the Prime Minister’s decision to recognize two national treasures: the statue of King Po Klong Garai and the Phuoc Thien inscription, both part of the Cham cultural heritage in Ninh Thuan.
