Bamboo Airways has officially reestablished its international flight network with the route from Ho Chi Minh City to Bangkok (Thailand), after pausing for a full year to focus on restructuring.
Starting from November 26, Bamboo Airways will operate regular direct flights connecting Tan Son Nhat Airport (Ho Chi Minh City) with Don Mueang International Airport (Bangkok, Thailand). The route will have a frequency of one round-trip flight per day, with departure times set for 11:15 AM – 12:55 PM (outbound) and 2:00 PM – 3:45 PM (return).
According to Luong Hoai Nam, CEO of Bamboo Airways, this event marks a significant milestone as the airline official resumes its regular international flight network after a year of suspension to focus on restructuring. He stated that this is a strong indication of Bamboo Airways’ positive recovery and a step forward in the right direction according to its planned roadmap.
“With daily flights connecting Ho Chi Minh City and Bangkok, two major economic hubs of Vietnam and Thailand, Bamboo Airways hopes to offer a convenient and accessible travel option for passengers from both countries, especially during the peak holiday and Tet season,” added Luong Hoai Nam.
To celebrate the reopening of this route, Bamboo Airways has announced special promotional fares starting from 0 VND per leg (excluding taxes and fees), applicable across all of the airline’s official distribution channels.
Previously, Bamboo Airways had operated regular flights on the Ho Chi Minh City – Bangkok route (starting in April 2022) and the Hanoi – Bangkok route (starting in March 2023).
Additionally, to meet the increased demand for travel during the year-end and 2025 Lunar New Year peak season, Bamboo Airways plans to add two new aircraft by the end of 2024. Based on this expansion, the airline will consider increasing the frequency of its existing routes, while also resuming several domestic routes to Thanh Hoa, Phu Quoc, and other regular international routes, starting with the connection to Thailand.
Aviation authorities have facilitated airlines in increasing seat availability on routes, allowing for more affordable airfares during the Tet holiday.
Airlines have opened ticket sales for Tet since September. Photo: TIA.
The Civil Aviation Authority of Vietnam (CAAV) recently issued a decision to adjust the slot coordination parameters at Tan Son Nhat International Airport for the period between January 14 and February 12, 2025, in preparation for the Lunar New Year (Tet) holiday.
Specifically, the number of flights at the airport will increase from 42 flights per hour to 46 flights per hour during the time frame from 6:00 AM to 11:55 PM. During the hours from midnight to 5:55 AM, the number of flights will increase from 32 flights per hour to 42 flights per hour.
At the domestic terminal, the number of flights departing from Hall A will increase from 13 flights per hour to 15 flights per hour, while departures from Hall B will increase from 11 flights per hour to 13 flights per hour. Domestic arrivals will rise from 21 flights per hour to 22 flights per hour.
According to the CAAV, the early issuance of this decision will help airlines and relevant units in the industry proactively plan and prepare for Tet 2025. It will also provide timely information to passengers, enabling them to plan their travel effectively and choose appropriate flights for their needs. needs.
Moreover, the increase in slot coordination parameters will allow airlines to expand their operations and increase seat availability on various routes, thereby offering more affordable and reasonably priced airfares during the high-demand Tet season.
The CAAV emphasizes that it will strictly manage slot usage to ensure efficient utilization of the airport’s infrastructure, maximize operational capacity and ensure that air transport services meet the high travel demand during Tet. This will also ensure safety, security, and stable service quality.
Previously, since September, the Vietnam Airlines Group (comprising Vietnam Airlines, Pacific Airlines, and VASCO) had opened early sales of nearly 1.5 million Tet tickets across its domestic flight network. This was the first wave of ticket sales based on the approved flight schedule from the regulatory authority.
Meanwhile, Vietjet Air has also released early sales for 2.6 million Tet tickets for the period from January 15 to February 12, 2025.
According to the President of the Da Nang Tourism Association, the city almost no longer experiences a low tourism season.
Welcoming 8.7 Million Visitors in Nine Months
According to Tran Van Vu, Director of the Da Nang Statistics Department, the city welcomed 8.7 million visitors in the first nine months of this year, including 3.2 million international visitors and 5.5 million domestic visitors. The revenue from accommodation and food services is estimated to have reached nearly 20.6 trillion VND, a 23% increase compared to the same period in 2023.
Foreign tourists in Da Nang. Photo: Ho Giap
He noted that Da Nang has organized many large-scale national and international events, festivals, and introduced several new tourism products and services, which have contributed to a vibrant atmosphere, attracting a large number of tourists from both inside and outside the country.
From the perspective of the business community, Cao Tri Dung, President of the Da Nang Tourism Association, commented that with these results, Da Nang has surpassed its peak in 2019. This marks an impressive comeback for Da Nang’s tourism sector post-Covid-19 .
He explained that based on the city’s advantages in terms of location and resources, Da Nang has developed a variety of distinctive tourism products and correctly positioned both short-term and long-term visitor segments as well as potential markets.
One of the highlights for Da Nang is its effective marketing and promotion efforts across multiple potential markets, attracting a wide range of visitors. The current structure of Da Nang’s visitor base is shifting toward sustainability, with no over-reliance on any one major market.
Previously, South Korea and China made up more than 85% of Da Nang’s international tourists, but now they account for only about 40%, with the remaining 60% coming from other markets.
“The balance in visitor sources, sustainable products, flexible promotional activities, and diverse markets have all contributed to Da Nang’s successful year,” said the President of the Da Nang Tourism Association.
No More Low Season
Typically, the period from September to the end of the year is considered the low season for tourism, but Cao Tri Dung pointed out that this concept is nearly obsolete for Da Nang.
“September is a transitional month between the peak seasons for domestic and international visitors, so there’s a slight dip in numbers. However, Da Nang still maintains a good flow of tourists from South Korea. Notably, starting from October, the city enters the peak season for visitors from Europe, Australia, and the Americas,” he explained.
Dung also mentioned that Da Nang has received positive signals from these markets. European tourists have begun shifting towards Da Nang, staying longer and spending more, while the range of visitors has become more diverse. The city’s ecosystem and tourism offerings are highly suitable for this visitor demographic.
He emphasized that due to the high-spending nature of these tourists, who are keen on personal experiences and local culture, businesses need to adhere to commitments, be well-prepared, and meticulously cater to this important visitor group.
Agreeing with this view, Nguyen Thi Hoai An, Deputy Director of the Da Nang Department of Tourism, shared that while people often refer to the end of the year as the low season, this is only true for domestic visitors.
For international tourists, the current market is very diverse, with no dependence on any single market, meaning that the low season is gradually shrinking.
The largest number of international visitors to Da Nang come from South Korea, China, and Thailand. Notably, Da Nang has recorded impressive growth from markets such as India, Japan, and Southeast Asia.
Currently, Da Nang is preparing for the MICE (Meetings, Incentives, Conferences, and Exhibitions) season, as well as visitors from Europe, the U.S., and others. Even South Korean and Japanese tourists continue to visit Da Nang in large numbers during the winter season.
An expressed hope that Da Nang could welcome around 10 million visitors this year.
Under new regulations starting from October 20, tourists on day tours will now be able to stay on Ha Long Bay until 8:00 PM, allowing them to fully enjoy the breathtaking sunset views.
Ha Long Bay is a must-see destination for tourists when coming to Vietnam, offering wonderful experiences with majestic natural landscapes, diverse recreational activities and rich culture. Photo: Pham Ha.
On October 10, the Ha Long Bay Management Board announced that Quang Ninh Province has decided to extend the visiting hours for Ha Long Bay and Bai Tu Long Bay compared to previous regulations.
specifically, for day-tour boats during the summer season (from April 1 to October 31), departures will be allowed from 5:00 AM, with the latest return time extended to 8:00 PM. Previously, boats could only depart from 6:00 AM and had to return by 7:00 PM.
During the winter season (from November 1 to March 31 of the following year), day-tour can depart from 5:30 AM, with the latest boats return time set at 7:00 PM. Previously, boats were only allowed to depart from 6:30 AM and had to return by 6:30 PM.
For overnight cruise boats on Ha Long Bay and Bai Tu Long Bay, they must reach their designated mooring points by 6:30 PM or 7:00 PM during the summer.
The operating hours for water-based recreational activities on the bay will be from 5:30 AM to 6:30 PM.
These regulations do not apply to tourist boats when they are not carrying passengers.
Sunset scene on Ha Long Bay conquers many tourists. Photo: Pham Ha.
With these changes, tourists will have more time to explore Ha Long Bay and witness beautiful scenes such as the sunset or the early morning views within the heart of this natural heritage site.
However, in an interview with Tri Thuc – Znews, Pham Ha, CEO of Lux Group, which operates cruises in Ha Long, Lan Ha, and Cat Ba, expressed concerns that the extended hours were still too limited, making it difficult for cruise companies to introduce new tourism products.
“With the new regulations, in the winter, boats will only be allowed to return 30 minutes later than before. This is too short and doesn’t really solve any issues. Meanwhile, in Nha Trang Bay, tourists can enjoy sunset cruises, live music, and even dinner until 9:00 PM,” Ha explained.
He added that extending the visiting hours on Ha Long Bay until 9:00 PM would better meet customer expectations.
Recently, the famous magazine Condé Nast Traveler published its ranking of the 20 best countries for tourists in 2024, which includes Vietnam.
The ranking is part of the annual awards voted by Condé Nast Traveler readers.
In its 37th edition, more than 575,000 reader reviews of travel experiences in each country were considered based on criteria such as culture, scenery, tourism services, and infrastructure.
Photo: Lonely Planet
In the “Best Countries in the World” category, Vietnam ranked 15th with a score of 89/100.
According to Condé Nast Traveler readers, Vietnam attracts tourists with its rustic yet captivating beauty.
“With the number of foreign visitors steadily increasing since 2019, Vietnam is no longer just a notable destination; it has become a must-visit,” noted the editorial team of Condé Nast Traveler.
Another Southeast Asian destination on the list is Thailand, ranked third with 92.29 points. Topping the list this year is Japan, with 95.32 points.
Condé Nast Traveler is a globally recognized travel magazine, launched in 1987 and headquartered in the United States. Rankings like the Readers’ Choice Awards from Condé Nast Traveler are considered prestigious by many travel experts, as they are based on feedback from millions of international readers.
The 2025 Art for Climate – Ha Long Bay festival will feature over 200 European billionaires and attract 80,000 attending.
The People’s Committee of Quang Ninh Province recently announced that Ha Long City will be the host of the Art for Climate – Ha Long Bay 2025 early festival next year. The festival is scheduled to take place from January 13 to 19, 2025.
The event is expected to draw a large number of locals and tourists with a range of exciting activities.
Recently, many cruise ships have carried thousands of tourists to visit Ha Long Bay. Photo: Pham Cong
From now until the end of the year, Ha Long City will facilitate businesses in organizing large-scale cultural and sports events, such as the Heritage Marathon (December) with over 15,000 participants, the Vietnam – Korea Music Festival (November and December), and the Miss Vietnam University Student pageant (December). Additionally, in November, a hot air ballooning service (tethered) is expected to launch, offering scenic views of the heritage bay and Ha Long City from Tuan Chau Ward.
Currently, Ha Long Bay receives about 4,000-6,000 visitors per day, with 90% being international tourists.
In the first nine months of this year, Ha Long City welcomed 9.2 million visitors, a 33% increase compared to the same period in 2023. Of these, 2.13 million were international visitors, an increase of 2.3 times over the same period. Total tourism revenue is estimated at around VND 20.3 trillion, a 34% increase year-on-year.
To attract tourists during the fall and winter seasons, Ha Long City is making the most of its tourism and transportation infrastructure, particularly with the influx of cruise ship tourists through Ha Long International Passenger Port. In addition to visiting Ha Long Bay, these tourists are eager to explore and learn about local culture.
According to Mr. Nguyen Manh Tuan, Head of the Ha Long City Department of Culture and Information, the city has restored and enhanced various cultural festivals, especially those of ethnic minority groups. It has improved the quality of traditional festivals linked to tourism development, and guided local communities in organizing festivals such as the Tran Quoc Nghien Temple Festival, King Le Temple Festival, Bang Ca Village Festival, and Yen Cu Shrine Festival.
In a list of the 100 best desserts in Asia recently published by the famous food website Taste Atlas, a dessert from Vietnam has earned a spot.
Ranked 82nd with a rating of 4.1/5 stars, three-color dessert was described by Taste Atlas as “a colorful Vietnamese dessert.”
“Tasting both like a drink and a dessert, three-color sweet soup is a harmonious combination of various dessert types,” the site noted.
Photo: Phunuonline
The ingredients of this dessert can vary slightly depending on the region and the chef. However, its core ingredients include sticky rice, tapioca pearls, lotus seeds, mung bean paste, jelly, and coconut milk. The name “three-color” comes from the layers of red, yellow, and green in the dessert.
According to Taste Atlas, three-color tea can be enjoyed hot or with ice as a refreshing treat during hot summer days.
Three-color sweet soup is a beloved dessert tied to the childhood memories of many Vietnamese people. Its vibrant colors and rich coconut flavor make it a favorite, often sold in street markets or residential neighborhoods at affordable prices.
Founded in 2015, Taste Atlas, headquartered in Zagreb, Croatia, is known as a global map of traditional dishes from around the world.
According to Matija Babić, the founder of Taste Atlas, the rankings of food and beverages are based on opinions and reviews from experts and food critics to ensure the credibility of the awards.
On October 14, Mr. Tran Van Thanh, Director of the Binh Dinh Provincial Department of Tourism, announced that the department is planning to launch two new tourist tours at Thi Nai Lagoon.
Located 8 km from the center of Quy Nhon City, Thi Nai Lagoon is the largest lagoon in Binh Dinh. Its standout features include vast expanses of lush mangrove forests and a network of winding creeks.
The Fortune Teller Tower in the middle of Thi Nai lagoon, one of the most interesting tourist attractions
Thi Nai Lagoon spans across Quy Nhon City and the districts of Tuy Phuoc and Phu Cat (Binh Dinh). It stretches 4 km in width and over 10 km in length, covering a water surface area of more than 5,000 hectares with an average depth of 1.2 meters.
The lagoon is famous for its highly diverse ecosystem, abundant aquatic resources, and as a habitat for 5,000 to 7,000 migratory birds.
Thi Nai Lagoon is a very interesting tourist destination in Binh Dinh.
Additionally, Thi Nai Lagoon is famous for being home to what was once Vietnam’s longest sea-crossing bridge. The Thi Nai Bridge (also known as the Nhon Hoi Bridge) is nearly 2.5 km long, with a total width of 15.5 meters, and consists of 54 spans.
At sunset, large flocks of birds gather over the lagoon, creating an impressive and distinctive landscape. For these reasons, Thi Nai Lagoon has become an increasingly popular tourist destination for visitors to Binh Dinh in recent years.
To fully tap into the tourism potential of Thi Nai Lagoon, the Binh Dinh Department of Tourism has recently developed plans to launch two new tours at this location.
specific, the two tours will take visitors to several points of interest around Thi Nai Lagoon, such as Hai Minh fishing village, Thay Boi Tower, and the monument of Saint Tran Hung Dao. These two tours are expected to be officially announced in the near future.
Mr. Tran Van Thanh, Director of the Binh Dinh Provincial Department of Tourism, added: “Since these two tours mainly involve traveling on the lagoon, the safety of visitors is a top priority for local authorities. Therefore, any businesses that wish to register and operate these tours must ensure that all safety for passengers’ conditions are met according to regulations.”
Friday contracts debuted on Sept. 30 with a bang, becoming CME’s most successful crypto futures launch ever.
Chicago Mercantile Exchange’s (CME) bitcoin (BTC) futures that expire on Friday are ideally suited for news traders looking to bet on key U.S. economic data releases, CF Benchmarks’ CEO Sui Chung said, explaining the performance of the recently launched contracts.
The CME debuted cash-settled Friday futures, sized at one-50th of one BTC with lower margin requirements, on Sept. 30 to make the futures product accessible to retail investors. The so-called BFF contract settles every Friday at 16:00 New York Time and tracks Cf Benchmark’s Bitcoin Reference Rate – New York (BRRNY) variant. A new contract is listed Thursday at 18:00 New York time, allowing market participants to trade the nearest two Fridays at any point in time.
The global derivatives giant registered a first-day trading volume of over 31,000 contracts across two different contract weeks, becoming the exchange’s most successful crypto futures launch ever.
“Unlike monthly contracts, which are influenced by a wide range of events over four weeks, the weekly contracts allow investors to better express views on Bitcoin’s reaction to specific events, such as U.S. macro data releases,” Chung told CoinDesk in an interview.
Bitcoin has emerged as a macro asset since the coronavirus-induced crash of 2020, with short-term traders/speculators making bets by following notable news announcements and data releases like the monthly U.S. inflation figures and the nonfarm payrolls data.
The Friday futures provide several benefits to news traders, including low basis or price differential relative to spot prices, lower rollover costs and more targeted trading strategies.
The shorter duration limits the gap between futures and spot prices, ensuring a lower premium than monthly standard and micro futures contracts. The lower premium means the contango bleed, or the cost incurred from moving positions from the impending expiry to the following Friday expiry, is relatively less than extended duration contracts, leading to improved profitability.
“The reduced time horizon of the weekly contracts generally results in a low basis compared to their monthly counterparts, simplifying analysis for retail traders,” Chung said.
Chung added that the alignment between the Friday futures expiry and the daily NAV calculation of U.S.-listed spot ETFs, most of which refer to the BRRNY, enhances market liquidity. The more liquidity, the easier it is to execute large orders at stable prices, and the more efficient the price discovery mechanism.
Note that on offshore unregulated exchanges, retail traders prefer perpetual futures, which use the funding rate mechanism to keep prices aligned with the spot market. The funding fee is collected from traders every eight hours. These rates are volatile, adding an element of uncertainty and unpredictability.
Weekly inflows might challenge records as technical pointers suggest a BTC rally in the works.
Bitcoin (BTC) exchange-traded funds (ETFs) posted inflows of $555.86 million on Monday, according to data provider SoSoValue, amid signs of a possible bitcoin rally.
This is a multi-month record for ETF inflows, as the last time the asset class posted higher inflows was on June 4, when it hit $886.75 million.
BTC is up 2.2% in the last 24 hours, according to CoinDesk Indices data, matching the CoinDesk 20, an index tracking the performance of the largest digital assets.
As CoinDesk reported earlier, one technical indicator called the “three-line break chart” shows Bitcoin could be on track to break past $73,000, signaling a return to an upward trend after months of back-and-forth price movement.
Prediction market traders have become more optimistic about BTC’s price potential in the last week. On Polymarket, the ‘yes’ side of a contract that asks if BTC will hit a new all-time high in 2024 is trading at 64% up 9 percentage points in the last week.
On Kalshi, bettors are giving a 46% chance that bitcoin’s price hits $75,000 this year, up 7 percentage points. Bitcoin hit an all-time high of over $71,000 in March of this year.
Hyosung Group, a leading Korean conglomerate, has announced plans to invest an additional $4 billion in Vietnam, effectively doubling its total investment in the country.
During a meeting with Prime Minister Pham Minh Chinh on October 14, Hyosung’s Chairman, Mr. Cho Hyun-joon, reaffirmed his confidence in Vietnam’s investment environment, expressing his belief that Vietnam will become Asia’s manufacturing hub.
“Hyosung is committed to Vietnam for the next 100 years, evolving from a Korean company into a Vietnamese company as well,” Mr. Cho said, echoing a message he had conveyed to the Prime Minister previously.
The additional $4 billion investment is expected to generate 10,000 new jobs and further support Vietnam’s economic development. Since entering the market in 2007, Hyosung has invested over $4 billion in sectors such as raw materials, textiles, chemicals, and electrical systems, with most of its Korean-based production now relocated to Vietnam.
With the new investment, Hyosung’s total capital in Vietnam will rise to $8 billion, further cementing its position as the third-largest South Korean investor in the country, following Samsung and LG.
Future investment plans include expanding into data centers, high-tech industrial materials manufacturing, sustainable biofuel production, and carbon fiber development. In collaboration with the Abu Dhabi National Oil Corporation (ADNOC) from the UAE, Hyosung hopes to establish a new business cooperation model between Vietnam, South Korea, and the UAE, with Vietnam playing a central role in attracting Middle Eastern investments.
Prime Minister Pham Minh Chinh welcomed Hyosung’s expansion plans and emphasized the importance of environmental protection, integration with local businesses, and ensuring social security for workers. He also highlighted Vietnam’s commitment to supporting high-tech and environmentally sustainable projects that can boost innovation, technology transfer, and the development of supporting industries.
The Prime Minister assured that the government would work with relevant ministries to address Hyosung’s proposals and facilitate their operations in Vietnam.
Hyosung, which operates in industries such as industrial materials, information technology, electrical systems, construction, and chemicals, recorded $16 billion in revenue last year. In Vietnam, the group is currently investing $1.3 billion in biotechnology and carbon fiber plants in Ba Ria-Vung Tau province, with construction expected to begin early next year.
October could be a harder month for the miners as the network hashrate is currently 11% higher while the bitcoin price is up only about 5%, the report said.
Bitcoin (BTC) mining profitability fell in September from the month before, as the average price of the world’s largest cryptocurrency was broadly unchanged while the network hashrate rose about 1.7%, Jefferies said in a research report Sunday.
The investment bank noted that average daily revenue per exahash fell by 2.6% from the month previous.
“October is currently poised to be a harder month with BTC prices only up around 5%, while the network hashrate up +11% more than offsets that growth,” analysts Jonathan Petersen and Joe Dickstein wrote.
North American listed mining companies mined a larger share of bitcoin in September than August, and comprised 22.2% of the total network, up from 19.9% in August, the report said. This was driven in part by better uptime for these firms who benefitted from lower temperatures.
Marathon Digital (MARA) mined the largest number of bitcoin, at 705 tokens, followed by CleanSpark (CLSK), which mined 493, the bank said.
Marathon’s installed hashrate remained the largest in the sector, and was 36.9 exahashes per second (EH/s) at the end of September, the report noted. Riot Platforms (RIOT) was second with 28.2 (EH/s).
Jefferies noted that the “bitcoin election” is coming to its conclusion, and said that irrespective of who wins “we could see incrementally favorable policies toward the industry.”
The filing was dismissed because a U.S. judge who called the application a “bad faith” tactic.
Crypto neobank Banq, which filed for Chapter 11 in a U.S. bankruptcy court in the district of Nevada, has had its application rejected.
The bank’s bankruptcy application was called a “bad faith” tactic to “gain an advantage in pending litigation” and not to reorganize by Judge Natalie M. Cox, who presided over the case.
Judge Cox wrote in her ruling that this bankruptcy proceeding was a ploy to shield Banq and its founder, Jon Jiles, from an investor lawsuit launched by N9 – a major creditor in the company with a $3 million stake – which alleges Jiles failed to uphold his fiduciary duties by prioritizing Prime Trust’s interests (where he was founder and managing member) over Banq’s.
“Jiles quickly showed that his loyalty belonged to Prime Trust, not Banq,” the N9 lawsuit reads.
N9’s lawsuit also alleges that Jiles, in his capacity as Banq’s chair, failed to create a non-compete agreement with former Banq CEO Scott Purcell, instead only putting one in place between Purcell and Prime Trust. N9 claims in the lawsuit that Jiles leveraged his control over Banq to benefit Prime Trust, prioritizing its interests and leading to Banq’s downfall.
Banq is suing Purcell after he allegedly shifted the company’s focus from crypto payments to NFTs before transferring $17.5 million in assets and technology to a competitor he founded called Fortress NFT Group, which is a central part of its bankruptcy claims.
In her ruling, Judge Cox wrote that Banq’s bankruptcy plan was not a legitimate business reorganization because the firm had no sources of revenue. Instead, the company’s business operations “relate almost exclusively” to pursuing litigation against Purcell.
“It is apparent from the totality of the circumstances that Debtor’s actual purpose in filing this case is not to successfully reorganize,” Cox wrote, noting that Jiles had funded the bankruptcy proceedings with a $225,000 loan through his company NVF LLC.
The case, Cox wrote, was designed to obstruct the ability for N9 to go after Jiles for breach of fiduciary duty.
“In essence, this case appears to be filed as a litigation tactic to advance the self-interest of the Jiles parties,” the filing reads.
Instead, Cox wrote, this case is a dispute between Banq, Purcell, and Jiles – not a bankruptcy.
Vietnam Maritime Commercial Joint Stock Bank (MSB) has been recognized as one of the 37 most valuable brands in Vietnam, according to the latest rankings by Brand Finance, the world’s leading brand valuation consultancy. The announcement highlights MSB’s impressive growth and resilience in a challenging market environment.
Brand Finance’s 2024 report revealed that despite market volatility and weakened domestic demand, Vietnam’s banking sector continues to thrive. Of the 20 banks listed in the Top 100 Most Valuable Brands, 17 recorded notable growth. Collectively, the total brand value of these 20 banks increased by 10% compared to 2023, reaching an impressive USD 13.8 billion.
Commenting on this achievement, Mr. Duong Ngoc Dung, Chief of Marketing and Communications of MSB, said, “Being ranked by Brand Finance is a testament to MSB’s ongoing efforts to enhance both our brand value and customer trust. We are committed to building on this momentum, and our brand will continue to achieve even greater milestones in the future.”
MSB has been evaluated by Brand Finance twice, in 2023 and 2024, and its brand value has been recognized in multiple prestigious rankings, including the strongest and most valuable banking brands, the biggest ASEAN brands, and the top brands in Vietnam.
These accolades not only affirm MSB’s leading position in the Vietnamese banking sector but also underscore its potential for further growth and competitiveness in both domestic and international markets.
In terms of financial performance, MSB continues to deliver solid results. The bank’s audited financial report for the first half of 2024 shows a pre-tax profit of nearly VND 3,690 billion, marking a 4% increase year-on-year. As of the end of the second quarter, MSB’s total assets reached VND 295,537 billion, up 11% from the beginning of the year. Additionally, MSB recently completed a capital increase plan by issuing shares to pay dividends at a rate of 30%, bringing its charter capital to VND 26,000 billion.
MSB is a leading commercial bank in Vietnam, committed to providing innovative financial solutions and enhancing customer experiences. With strong growth across key financial indicators, MSB is well-positioned to continue driving value and expanding its market presence in the years ahead.
Despite a challenging economic environment and weaker domestic demand, Vietnamese brands, particularly in the food and banking sectors, have demonstrated remarkable resilience and growth in 2024. The country’s top brands have not only maintained their rankings but also recorded substantial value increases, defying global and local market pressures.
Top 3 Brands Maintain Dominance
The top three most valuable Vietnamese brands have retained their 2023 rankings. Viettel leads the pack with a brand value of USD 8.9 billion, followed by Vinamilk and VNPT. Viettel, a telecommunications giant, has held its top position for nine consecutive years since 2015. The company’s brand strength has also seen notable improvement, with its Brand Strength Index (BSI) rising by 4.2 points to 89.4, along with an excellent AAA brand rating. Contributing to this growth are stronger perceptions of its customer service, product quality, marketing efforts, and sustainability initiatives.
Vinamilk, the leading food brand in Vietnam, comes in second with a brand value of USD 2.6 billion, though it recorded an 11% drop compared to 2023. VNPT, the national telecommunications provider, holds third place with a brand value of USD 2.6 billion, a slight decrease of 3% from last year.
Banking and Food Sectors Show Strong Growth
In the banking sector, 17 out of 20 listed banking brands saw increases in their brand value, leading to a combined growth of 10%, reaching a total of USD 13.8 billion. Vietcombank, the nation’s most valuable banking brand, posted a 7% increase to USD 2 billion. VIB stood out as the strongest performer, with a brand value increase of 51% to USD 273 million.
The food industry also showed robust performance, with 7 of the 11 listed brands posting double-digit increases. Chin-Su, a popular sauce brand, registered the highest growth in brand value, surging by 71% to USD 123 million. Despite the challenges, Vinamilk remains the leading food brand, holding its spot as the second-most valuable Vietnamese brand overall.
Vinpearl Surpasses Viettel as Strongest Brand
In a significant shift, Vinpearl, a leading hospitality brand, has overtaken both Viettel and Vietcombank to become the strongest brand in Vietnam based on the BSI. Vinpearl’s brand value rose by 34% to USD 230 million, reflecting its successful business strategies and consumer trust. Viettel improved its ranking by three places compared to last year and is now the second strongest brand, followed by Vietcombank.
Largest Brand Value Performers Drive Economic Optimism
Vietnam’s top brand value gainers across different sectors are fueling optimism amid an otherwise uncertain economic forecast. Leading the charge is VinFast, the country’s rapidly growing electric vehicle maker, which posted a remarkable 142% increase in brand value, reaching USD 181 million. Vinschool, an education brand, saw a 109% surge to USD 45 million, while Wake-up 247, a popular energy drink, climbed 83% to USD 149 million.
Viettel Leads in Sustainability Perception
Viettel also holds the highest Sustainability Perceptions Value among Vietnamese brands, valued at USD 756 million, according to the 2024 Sustainability Perceptions Index. This highlights Viettel’s commitment to sustainability, a factor that increasingly resonates with both consumers and investors alike.
Despite a cloudy economic forecast for 2024, the strong performance of Vietnam’s leading brands, particularly in the food and banking sectors, underscores the resilience and adaptability of the country’s businesses. The robust brand value growth reflects strategic efforts to enhance product quality, customer service, and sustainability, setting a positive tone for the year ahead.
Alex Haigh, Managing Director – Asia Pacific at Brand Finance, notes, “Vietnamese brands, especially in the food and banking sectors, have shown remarkable resilience, continuing to grow in value despite market challenges. The success of brands like Chin-Su underscores the strategic importance of maintaining brand strength.”
This growth not only supports Vietnam’s economic outlook but also positions its brands for sustained success on both local and global stages.
