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Vietnam’s tourism gains appeal through international festivals

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Organizing festivals of international stature is a strategy many provinces and cities are adopting to enhance the appeal of the tourism sector.

Vietnam’s tourism industry has already established a brand on the international stage due to its stunning natural conditions. However, to maintain its allure for tourists, in addition to preserving nature and landscapes, creating new and exciting experiences for visitors, such as international festivals, is a strategy being implemented by many provinces and cities, yielding numerous positive benefits.

Blue seas, white sands, and golden sunshine have always been the tourism strengths of many cities in Vietnam. Not only do these excellent natural conditions attract tourists, but in recent times, many provinces and cities have continuously organized internationally-scaled festivals that draw significant attention from tourists. Examples include the Water Festival (Ho Chi Minh City), the International Light Festival (Nha Trang), the International Fireworks Festival, and the Enjoy Danang Festival (Da Nang).

Da Nang International Fireworks Festival (DIFF 2024) has attracted a lot of tourists here recently.

Ms. Lynda Brandt (a Swiss tourist) commented: “I think it’s wonderful. I have seen fireworks before, but not on this scale. I am happy I decided to come here to witness Da Nang’s international fireworks festival. Perhaps I will return next year.”

According to the Da Nang Department of Tourism, from July 11 to 13 (the time of the International Fireworks Festival finals), the number of flights to the city increased by over 40% compared to normal days. The city’s hotel occupancy rate nearly reached its maximum, with a fill rate of up to 95%; the capacity of cruise ships reached 100%.

Ms. Nguyen Thi Hoai An, Deputy Director of Da Nang Department of Tourism, emphasized: “Da Nang’s festival events, especially the international fireworks festival, have become a unique brand of the city. We will continue to elevate them and hope that in the future these festivals will increasingly promote their value while attracting more international markets to Da Nang.”

Historical and cultural factors are also integrated and conveyed through festivals, helping tourists understand more about the destination and evoke a love for the homeland among locals.

Mr. Ngo Thanh Tung (Thu Duc, Ho Chi Minh City) said: “Seeing the image of surfers wearing the national flag with music made me feel very emotional and proud that my city has such a worthy tourism product to enjoy.”

Mr. Phung Quang Thang, Vice Chairman of the Vietnam Tourism Association, shared: “To attract tourists to destinations and highlight the local cultural features, we need to invest more in event activities that are both traditional and modern.”

The development of international-scale festivals is expected not only to become a “magnet” attracting and expanding the international tourist market to Vietnam but also to strengthen the brand and generate significant revenue for localities.

@vtv.vn

Tourists arriving in Da Nang by train receive taxi discounts

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Tourists visiting Da Nang by train will enjoy a 10% discount when traveling from Da Nang Station to various destinations within and outside Da Nang city.

Recently, the Da Nang Department of Tourism announced that to enhance the attraction of tourists to the city by rail, taxi companies operating at Da Nang Station have jointly implemented a discount program for all passengers arriving at Da Nang Station on any North-South trains passing through Da Nang Station (including the “Central Heritage Connection” Da Nang – Hue route). This applies to transportation for sightseeing, accommodation, dining, and shopping from Da Nang Station.

The discount is valid until December 31, 2024. The discount applies on the day of travel for passengers who present their used train ticket stub/online QR code on the same day.

Recently, Da Nang was also mentioned in the list of 7 safe, affordable destinations suitable for solo travel in Southeast Asia.

Da Nang is considered one of the most livable cities in the world. It is blessed with vast, gentle rivers and clear, alluring beaches, making both tourists and immigrants fall in love at first sight.

Da Nang also boasts a fresh climate, convenient transportation, clean streets, and the hospitality of the local people. The people of Da Nang are very friendly, open, and honest – a highly cherished cultural trait.

Previously, Da Nang also announced a combo package for around 3 million VND to stimulate tourism. From the end of June to September 30, for approximately 3 million VND, tourists from both ends of the country had the option of round-trip airfare and two nights’ accommodation in Da Nang.

@vtv.vn

Wanderlust Storytellers praises Mu Cang Chai’s unreal beauty

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The famous family travel site Wanderlust Storytellers recently ranked Mu Cang Chai of Vietnam first on its list of 25 destinations worldwide with unreal beauty.

As a family travel site recommended by National Geographic and the Washington Post, Wanderlust Storytellers praises “Mu Cang Chai as one of the most beautiful destinations in Vietnam.”

Mu Cang Chai in the ripe rice season. Photo: ivivu

The area is famous for its “stunning terraced fields, anchored by the H’Mong people for centuries. This form of cultivation has created a vibrant landscape that changes with the seasons.”

June is considered the best time to visit Mu Cang Chai when local farmers prepare for the new rice season.

Mu Cang Chai also boasts many hiking trails and is proud of its unique local culture.

The terraced fields in Mu Cang Chai were listed among the 50 most beautiful destinations in the world in 2020 by Big 7 Travel.

Besides Mu Cang Chai, other notable destinations in the Wanderlust Storytellers list include Abraham Lake (Canada), the ice caves of Vatnajökull Glacier (Iceland), the Meteora Monasteries (Greece), and the Waitomo Glowworm Caves (New Zealand).

@Vietnamnet

Top 8 Signs Your Basement Needs Waterproofing ASAP

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Top 8 Signs Your Basement Needs Waterproofing ASAP

Did you know waterproofing your basement should be your priority if you find any indications of ongoing moisture problems or water seepage? The indicators that your basement requires waterproofing immediately are mold or mildew growth; efflorescence (a white, chalky residue) on surfaces; frequent leaks or puddles after rain; peeling paint or wallpaper as a result of water damage; and visible water stains or discoloration on walls and floors.

Not only do these signs point to water issues, but they also indicate possible structural damage and health risks if not addressed. Your home’s foundation, indoor air quality, and your family’s health can all be enhanced by waterproofing your basement, which also helps avoid expensive repairs down the road. Taking care of these warning signals quickly can keep your basement dry and usable for a long time, saving you money and frustration.

1.Water Stains

If you notice water stains on the walls or floors of your basement, it could be time to waterproof it. These discolorations can be signs of water seepage through the walls or foundation. Excessive moisture buildup is indicated by stains and a musty or moldy odor that may permeate the air. It is vital to contact a trusted waterproofing Philadelphia company immediately if you observe any of these indicators. Based on their findings, they can advise you on the best waterproofing solutions for your basement after evaluating the level of water damage.

2. Mildew

Mold can be seen on surfaces as fuzzy, greenish-black patches. A musty odor could be present as well. However, mold poses serious health risks and is thus more than just an annoyance.

Respiratory problems and allergic reactions can be triggered by inhaling mold spores. Even more significant health issues can be caused by mycotoxins, which are produced by some molds. Mold can cause neurological diseases and immune system deficits if exposed to it for an extended period.

3. The phyllosphere

Despite its aesthetic appeal, efflorescence on basement walls should be taken seriously. Water seeping through the walls brings dissolved minerals to the surface, producing a white, powdery substance. This is ugly and may harm your home’s structure in the long run.

Light reflected off these mineral deposits creates a sparkling effect.

Pay attention if you see something glistening in your basement. Foundation waterproofing services should be called immediately. Your basement has probably begun to experience water seepage.

To find out where the leak is coming from, you can arrange for a comprehensive assessment.

4. A Musty or Wet Odor

A musty or wet odor in the basement can be an indication of water seepage that is producing problems. The development of mold, which poses a significant threat to your family’s health, may result from this.

As soon as you notice a problem, you should investigate the source of the water and repair any foundational fractures or leaks. If you want the work done right, hire a waterproofing company.

5. Corrosion

Metal surfaces in your basement that begin to rust are a sure sign that there is moisture there. Failure to promptly treat this moisture might result in the formation of mold and structural damage.

If your basement is damp, rust can form on any iron objects you have in there. The outcome could be corroded nails and hinges.

While you’re walking around, be sure to check for rust. Make sure you have checked all of the room’s metal fixtures. Even a small amount of rust could indicate water creeping into the basement.

One of the first indicators of water damage is rust. Your prompt response is paramount. If you get assistance immediately, you have a better chance of reducing the severity of the problem.

If you don’t, the problem can permeate your entire home and basement, and repairs and waterproofing could cost you more money.

6. Walls that sag

The sight of bowed walls is unsettling, but it usually indicates that your basement needs waterproofing. Walls can be bent or cracked when water seeps into the earth around your foundation and presses on them.

You must immediately resolve this matter and prevent further harm to your home.

7. Cracks in the Floor or Walls

Be very concerned if you notice any cracks in the basement’s walls or floor; they may be signs of a more significant issue with water seepage. Mold and mildew can flourish in damp basements caused by even the smallest openings.

Water can also rot your home’s structural materials, resulting in costly repairs. You should have an expert to look at the basement cracks as soon as you find them. Your home can be spared more harm if you act swiftly.

8. Swelling

Look for these indicators while you go through your basement. We need to contact a basement waterproofing company now. Signs of edema may become apparent. Timber can expand when exposed to moisture because the wood fibers begin to soak up the liquid.

The consequence could be the swelling of any wood in your basement, including the walls and floors. Swelling could indicate a leak, and it may also be difficult to close wooden doors if they swell.

As soon as possible, contact a basement waterproofing service.

In the end!

You may avoid trouble and money by looking for these warning signals and acting quickly to waterproof your basement. Choosing a trusted waterproofing Philadelphia firm when you need professional help guarantees that you will get the best advice and high-quality waterproofing solutions for your needs.

Preventing water from seeping into your basement has multiple benefits, including ensuring the long-term structural stability of your home and making your living space more comfortable and secure.

Bitcoin’s Unreliable Death Cross Is Looming Again

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Indicators like the death cross are inherently lagging and offer limited predictive power.

Some indicators are inherently lagging and offer limited predictive power, yet they consistently make headlines in traditional and crypto markets, often resulting in unnecessary panic among inexperienced investors.

One such example is the bitcoin (BTC) death cross, which tends to spark heightened fear and impulsive reactions on social media despite its poor record of accurately predicting future price trends. So get ready, because one seems to be on the way.

A death cross occurs when the 50-day simple moving average (SMA) of an asset’s market price falls below the 200-day SMA. Right now, the bitcoin price’s 50-day SMA is at $62,332 and falling, indicating a potential crossover with the 200-day SMA at $61,605.

The impending crossover indicates that short-term momentum, represented by the 50-day SMA, is underperforming the long-term average.

This development is widely interpreted as a bearish signal and leads to catastrophizing – a cognitive distortion that prompts inexperienced traders to jump to the worst possible conclusion, often with limited information and understanding. Overreaction is typical, especially when sentiment is already sour, as in the BTC market. The cryptocurrency has dropped over 20% to $55,000 in one week, according to CoinDesk data.

In reality, the chart pattern only shows the nature of the price action over the recent 50 days. It doesn’t guarantee future moves will follow in the same direction.

The previous death cross confirmed on Sept. 12, 2023, was a major bear trap. BTC bottomed out at $24,900 on the same day and never looked back, eventually reaching new record highs above $70,000 in March this year. Investors who’d positioned for further declines were caught out.

The previous nine death crosses have a mixed record, with only five presaging prolonged downtrends, as CoinDesk discussed last year.

To sum up, the death cross is unreliable as a standalone indicator. Bitcoin’s near-term prospects largely depend on the U.S. economic data and the volatility in the Japanese yen. Continued demand for the yen in the foreign exchange markets may further dent carry trades and keep risk assets, including BTC, under pressure.

ARK Bought $17.8M of COIN, $11.2M of HOOD as Market Slumped

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COIN lost 7.3% on Monday to close at $189.47 amid a market sell-off in which crypto and global stock markets experienced one of their sharpest losses in recent years.

ARK Invest took advantage of Monday’s massive market slump to make its first purchases of Coinbase (COIN) and Robinhood (HOOD) shares in months.

Cathie Wood’s investment management firm bought $17.8 million of COIN, its first purchase of the crypto exchange’s stock since June 6 2023 when it bought $21.6 million worth.

ARK also added $11.2 million of crypto-friendly online brokerage Robinhood shares, the first time it has bought HOOD since Feb. 13.

COIN lost 7.3% on Monday to close at $189.47 amid a market sell-off in which crypto and global stock markets experienced one of their sharpest losses in recent years. HOOD lost 8.17%, falling to $16.42.

ARK Invest often loads up on shares when their prices slide, usually with a view to offloading them one their prices tick up again. The company aims to avoid having one particular holding accounting for a weighting of more than 10% of any of its exchange-traded funds (ETFs), which drove much selling of COIN in recent months.

Following Monday’s purchases, COIN accounts for 8.55% of ARK’s Innovation ETF (ARKK), 6.73% of its Next Generation Internet fund (ARKW) and 9.72% of its Fintech Innovation ETF (ARKF).

Ethereum ETFs Scored $49M Inflows as ETH Plunged

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ETH bounced over 18% in the past 24 hours to reverse losses from a steep fall on Monday, with some drawing eyes to the blockchain’s fundamentals.

U.S.-listed spot ether (ETH) exchange-traded funds (ETFs) recorded net inflows of nearly $49 million on Monday amid a 20% drop in its price, showcasing demand for the second-largest token by market capitalization.

Ether price cratered as much as 20% on Monday in its biggest one-day price fall since 2021 as prominent crypto trading firm Jump Crypto moved large amounts of the asset to centralized exchanges in preparation for potential sales. A broader crypto market haircut contributed to the selling pressure, with over $340 million in ETH futures liquidations adding to traders’ wounds.

Professional investors bought the dip, however. Data tracked by SoSoValue shows ETH ETFs traded over $715 million, the highest since July 30. BlackRock’s ETHA led inflows at $47 million. Fidelity’s FETH and VanEck’s ETHV recorded $16 million in inflows each.

Grayscale’s ETHE was the only product with outflows at $46 million, while the provider’s smaller Ethereum Mini Trust (ETH) recorded inflows at $7 million.

However, since they first went live for trading on July 23, the products have recorded net outflows of $460 million, indicating that long-term demand for ETH ETFs has yet to fully appear. Bitcoin ETFs, in contrast, recorded over $1 billion in net inflows within their first 12 days of trading.

ETF flows help identify market trends and they broadly show where investors are putting their money.
Meanwhile, some market observers pointed out that applications built on the Ethereum network showed resilience amid the steep declines – a sign of strong fundamentals.

“Ether’s disproportionate price drop was largely driven by the Jump Crypto sell-off and liquidation of other whale wallets,” Alice Liu, lead researcher at CoinMarketCap, told CoinDesk in an email. “On a positive note, LSDFi stood up to the stress test: there’s been no major increase in Lido’s withdrawal queue, and no liquid staking depends on different projects.”

LSDFi refers to liquid staking derivatives finance, a colloquial term for staking and derivatives. The process refers to a set of blockchain-based activities that allow users to earn rewards while maintaining liquidity through derivative tokens.

“Another silver lining for ETH is that the recent liquidation seems to have revived the DeFi market, where activities on DeFi started to pick up significantly on the network. Gas fee has also fallen back to a more manageable level of 10-15 Gwei post the 370 Gwei recorded today,” Liu noted, referring to the fees that users pay to use the Ethereum network.

The Ultimate Guide on How to Get Jeans Manufactured in Vietnam

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The denim scene in Vietnam is growing strong, positioning the country as one of the biggest players in the world of denim. With a rich history in fabric making and strategically located geographically, Vietnam has emerged to be one of the major hubs for denim manufacturing.

This article will delve into the latest trends, innovative practices, and essential connections one must explore at the Denimsandjeans Vietnam Fair. Be it an entrepreneur or just a denim lover, this guide unveils the world of Vietnamese denim in every aspect.

Denim Industry in Vietnam on the Rise

Although being buffeted by global challenges, Vietnam’s apparel industry has shown steady growth. As of 2024, Vietnam aims to grow its textile and apparel exports to $44 billion. The United States is the largest importer of Vietnamese textiles and apparel, followed by Japan, South Korea, and the European Union.

All this has been made possible by close to 4,000 garment factories in Vietnam supporting this growth with 2.5 million employees; these have established Vietnam as a real force to be reckoned with in the manufacturing of denim.

>> Related article : The Best of ‘Made in Vietnam’ products for Sourcing

Exploring the Denimsandjeans Vietnam Fair

The Denimsandjeans Vietnam Fair is an important event in the industry of denims. The sixth edition in Ho Chi Minh City on June 26-27, 2024, with leading denim manufacturers from over ten countries participating in the fair, indicates high promise.

The sixth edition of its series organized by Balaji Enterprises of India promises to be an event that will showcase the trends at large and innovations in denim fashion—particularly sustainable development in the sector.

Latest Trends in Vietnamese Denim

Sustainability is at the forefront of Vietnam’s denim industry. More mainstream use of eco-friendly materials, such as organic cotton, recycled fibers, and hemp: More manufacturers are starting to apply low-impact dyeing techniques that also curb water use and chemical waste. Technologies: applied sciences like natural dyes and laser technology are used for color application.
The fair reveals a very interesting vintage revival, where retro silhouettes, high-waisted mom jeans, flared bottoms, and wide-leg styles come back into the mix with a renewed stylish flair. The fraying and distressing have a special flair, like it’s weathered many years of love.
Comfort knows no compromise in denim fashion; there is stretch denim and athleisure fusion for unlimited movements. From jeggings and slim-fit jeans with just a touch of stretch to denim joggers and track-inspired styles with elastic waistbands, designs are becoming all about comfort.
The involvement of technology in denim is another burgeoning trend. Smart fabrics feature moisture wick, UV protection, and antibacterial finishes—just to name but a few. Denim that changes according to the temperature: it can keep you warm in winter, and cooler during the summer months.
The rise of gender-fluid denim styles supports the idea that everyone should be able to dress the way they want to dress. Oversized jackets, boyfriend jeans, and unisex designs are growing trends, breaking free from the conventional principles of gender.

>> Related article : How do I find the best Vietnam buying offices for SMEs?

Key Styles at the Fair

Loose n’ Loose: For individuals who enjoy comfort with a sense of relaxed fashion style, the Loose n’ Loose offers its wearers room to breathe and laze. Pair them with oversized tops or cropped tees to achieve that trend look with less effort.
Performanz: Fashion + Function – Jeans with active lifestyles. These jeans can be worn while working out and traveling, or during the hustle and bustle of daily schedules.
Hygene: Hygene’s jeans are also environmentally conscious, emphasizing the use of such materials as organic cotton and recycled fibers. These are the ultimate pair for maximum looks with minimum footprint.
Minimalist: Minimalist design that says crisp and timeless for everywhere and all occasions. Their versatile design allows mix and match in numerous ways to turn into a closet staple.
How to Reach Out to the Denim Suppliers of Vietnam

How to Reach Out to Denim Suppliers ?

This trade show makes it possible to get in touch with a large number of denim mills, garment factories and the supplier directly. As a buyer, you can ask for fabric samples, measure production capabilities, and negotiate term sheets directly with potential manufacturers.

>> Related article : How do I find the best sourcing agents in Vietnam?

Engaging sourcing agents with existing contacts in the denim industry will save you time and help you discover perfect matches for partnerships. They will cooperate with quality control, logistics, and other such functions in the overall sourcing process to make your partnership smooth and effective.

Global Stock Sell-Off: Rising Yen and BOJ’s Rate Hikes

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The BOJ’s recent rate hikes, the first in 17 years, have ended the 0% interest rate policy, causing the Yen to strengthen. As the Yen appreciates, investors face pressure to sell assets like US stocks and bonds to cover Yen loans, exacerbating market instability.

Additionally, poor US employment data has heightened recession fears, prompting investors to seek safe-haven assets like the Yen. This has further fueled market volatility.

Experts suggest that while the current market adjustment is significant, it may not have a long-term impact, especially as many global enterprises report strong Q2 results. The situation remains dynamic, with future BOJ policy decisions likely influencing global markets.

How Vietnamese Travellers Plan Their Trips

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Everyone plans their holidays differently. While some Vietnamese travellers prioritise securing the ideal flight deal first, others crave the comfort of booking their accommodation before planning the rest of their travel itinerary.

Booking.com’s Travel Trends for 2024 unveils interesting insights into the mindset and behaviour of Vietnamese travellers when they plan their trips. The data reveals a strategic approach to booking travel with a focus on securing essential elements like flights and travel insurance in advance while leaving room for spontaneous activity bookings throughout the trip.

Accommodation as a booking base: While accommodation is an important aspect of travel planning for Vietnamese individuals and acts as a central point around which other elements of their trip are organised, it may not always be their initial focus when beginning to book elements of their trip. While 35% travellers prefer to arrange their flights and accommodation simultaneously, the majority (52%) prioritise securing their flights first due to limited availability or fluctuating prices. Only 12% purchase flights after confirming their accommodation.

Planning for peace of mind: A majority of Vietnamese travellers prioritise securing flights (52%), train tickets (45%) and travel insurance (53%) before booking their accommodation to ensure they have a smooth journey and avoid the stress of last-minute scrambling for seats.

Event Enthusiasts plan early: Similar to flights, half (50%) of our surveyed travellers prioritise booking event tickets before accommodation. This proactive approach ensures access to desired experiences and highlights their forward-thinking in planning activities for their destination.

Restaurant reservation: While some Vietnamese travellers plan meals in advance, many make restaurant reservations throughout their trip and when they are already at their holiday destination. This approach keeps options open for spontaneous discoveries, allowing them to explore hidden gems and local delights during their travels.

Taxis: Taxis are the most flexible option, with 37% booking their rides during their trip, reflecting that travellers still prefer to have flexibility and favour the ease of hailing rides on the go.

In summary, Vietnamese travellers demonstrate a balanced mix of pre-planning and flexibility. Their approach to trip planning highlights a desire for both security and the freedom to explore, making their travel plans both thorough and continuously adaptable.

Varun Grover, Country Head, Vietnam at Booking.com comments, “Booking.com’s Travel Trends provides valuable insight into the travel planning behaviour of Vietnamese travellers. By understanding these preferences, the travel industry can tailor their offerings to cater to different planning styles and preferences – and at the right time across the traveller journey. Whether it’s the meticulous planner or adventurous improviser, Booking.com is committed to making it easier for everyone to experience the world the way they want to.”

Phenikaa University Enhances Collaboration in the Semiconductor Industry

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Phenikaa University is honored to welcome Mr. Marc Evans Knapper – U.S. Ambassador to Vietnam on an official working visit on August 2, 2024. This visit marks an important step forward in the development of international cooperation of Phenikaa University with U.S. partners with the support of the U.S. Government through the U.S. Embassy in Vietnam.

Education – Training as one of the focuses in the Vietnam – United States partnership

Diplomatic relations between Vietnam and the United States have undergone a remarkable journey since normalization in 1995. For nearly three decades, the two countries have continuously strengthened and developed their bilateral relationship, gradually overcoming differences to become a comprehensive partner in many fields, marked by upgrading the relationship to a comprehensive strategic partnership in 2023.

Regarding education and training cooperation, by 2023, Vietnam has had about 50 joint training programs with the United States.

The U.S. government has about 30 study exchange programs with Vietnam. Cooperation between the two sides does not only stop at creating conditions for Vietnamese students to study in the United States, but the United States also implements many programs to support the development of Vietnamese education through the U.S. Agency for International Development (USAID).

During the working visit, Mr. Marc Evans Knapper visited Phenikaa University’s facilities, Phenikaa Semiconductor Training Center (PSTC) and the Applied BioMedical Research Center (ABMC).

Phenikaa University cooperates with U.S. organizations/ businesses in many aspects

In recent years, Phenikaa University has gradually asserted its position on the domestic and international educational map with positive contributions to the development of education and scientific and technological research. In particular, close cooperation with U.S. partners has brought Phenikaa University significant achievements, contributing to improving the quality of training and research of the University. The details are as follows:

Regarding training, Phenikaa University signed a Memorandum of Understanding (MoU) with Arizona State University (ASU) to implement the BUILD-IT Project in 2022. Accordingly, 162 lecturers have participated in advanced training courses for capacity improvement within the framework of the Project; 03 lecturers have obtained international certification; 05 training programs in the Technology and Engineering Disciplines Group are preparing to meet ABET accreditation standards; 18 leaders and lecturers have participated in the training on digital teaching methods in higher education; 200 have students participated in the BUILD-IT’s project-based learning (PBL) programs.

Regarding scientific research, Phenikaa scientists have collaborated with scientists from two U.S universities, i.e., the University of Georgia and the University of South Florida, to have publications in world-prestigious scientific journals such as: Advanced Optical Materials, Material Horizons, Scientific reports… In particular, the project “Application of vetiver grass at a practical scale to treat dioxin contaminated soil at Bien Hoa Airport” by Dr. Ngo Thi Thuy Huong has cooperated with United States Geological Survey (USGS). The project is funded by USAID with a total value of 332,000 USD.

One of the areas considered as Phenikaa’s strengths is the Phenikaa University Hospital Project with a system equipped with state-of-the-art equipment and machinery from U.S. manufacturers, with a total cost of more than USD 6 million.

In 2022 – 2023, Seeding Labs sponsored USD 500,000 in kind (nearly 200 devices) to build the Applied BioMedical Research Center (ABMC). The devices are currently being used for research and training.

In the health science disciplines group, in 2023, Phenikaa University signed an MoU with Michigan State University (MSU). Before that, Phenikaa University and the Institute for Global Health (MSU) had training cooperation within the framework of the Mekong One Health Innovation Program (MOHIP) Project.

Phenikaa University of representative said that the comprehensive partnership between the U.S. and Vietnam in education has brought positive contributions to the education sector in Vietnam, including Phenikaa University in recent years. Phenikaa University will continue to strengthen cooperation with U.S. universities in many fields, particularly in scientific research.

Phenikaa University and U.S. partners cooperating to develop high-quality human resources in microchips and semiconductors

Semiconductor microchip is considered the foundation of modern computing, playing an important role as the world enters a period of booming research, application and development of new technologies such as artificial intelligence (AI), internet of things (IoT), big data… Vietnam currently has great potential to become a new semiconductor center of the world.

With high requirements for human resource training, the semiconductor industry should not just stop at the basic university training program, but needs many efforts to be developed to higher levels.

In May this year, the Semiconductor Research and Human Resources Training Alliance (VASA) was established by Phenikaa University (represented by Phenikaa Semiconductor Training Center – PSTC) and Da Nang City (represented by Da Nang Semiconductor and AI Center for Research and Training (DSAC) in the form of public-private partnership (PPP). At the same time, Phenikaa University also signed an MoU with Arizona State University (ASU) – the largest semiconductor chip industry training institution in the world to develop training programs, taking advantage of resources provided by the U.S. Government to support Vietnam to deliver training programs.

ASU is committed to collaborating in the field of semiconductors (integrated circuit design, ATP), Aerospace Engineering, Clean Energy Engineering; At the same time, ASU will cooperate with PSTC to provide semiconductor training courses for lecturers (advanced IC design, ATP), and promote cooperation in graduate training.

In particular, Phenikaa also signed an MoU with Synopsys – an electronic design automation (EDA) company, providing tools and services for the semiconductor design and manufacturing industry.

Sharing about this cooperative relationship, Mr. Marc Evans Knapper – U.S. Ambassador to Vietnam said: “We’re so pleased that you’ve taken steps with American companies like we mentioned, Synopsys, and these are the kinds of collaboration, these are the kinds of partnerships synergies that are going to lead the way to the US and Vietnam partnering even more closely, to help our two countries not just strengthen our economic relationship but also to help diversify and strengthen supply chains, to help ensure that Vietnam is a key center for semiconductor and other high tech manufacturing and to ensure that our two countries are two futures, are filled with prosperity, peace and stability.”

Synopsys has cooperated with and provided PSTC with hardware such as Zebu 5 and Zebu 4 devices – the world’s number 1 systems in virtualizing chips and all software tools for chip design. Synopsys also provides Synopsys textbooks and materials for trainers who continue to incubate to students, and sends experts together with PSCT’s lectures for training program.

The U.S. Ambassador’s visit is not only an important milestone in the partnership between the two countries but also an opportunity to consolidate and expand joint efforts in semiconductor chip technology.

Beta Media partners with Aeon Entertainment in a $200 Million USD deal

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This venture will focus on developing and operating a chain of premium cinemas, investing in film production, and distributing Vietnamese, Japanese, and international films in the Vietnamese market. It is expected that several tens of billions of Yen ($200 Million) will be invested to build more than 50 premium cinema complexes under the Aeon Beta Cinema brand by 2035.

The announcement of this joint venture is a significant milestone in the development of Vietnamese cinema and the economic cooperation between Japan and Vietnam. The launch ceremony attracted the attendance of media agencies, organizations, and individuals in the film and entertainment industry. Notably, the event was honored by the presence of Ms. Ha Le – representative of the Department of Cinema, Mr. Nobuyuki Fujiwara – Chairman of Aeon Entertainment, and Mr. Minh Bui – Chairman of Beta Group.

By 2035, over 50 cinema complexes under the Aeon Beta Cinema brand are expected to be built with an investment of several tens of billions of Yen ($200 Million). With a modern style harmonizing with the traditional values of Vietnam and Japan, Aeon Beta Cinemas will be present in provinces across Vietnam, offering audiences the best movie-watching experiences. The first Aeon Beta Cinema is expected to open in 2025.

The joint venture between Beta Media and Aeon Entertainment will further promote the development of the cinema and film market.

The joint venture also aims to make a strong entry into film production and distribution. According to the agreement, film production and distribution projects will be carried out under the Aeon Beta brand, promising to deliver high-quality films rich in artistic and entertainment value to the audience.

Founded in 2014, Beta Media is part of the Beta Group ecosystem established by Mr. Minh Bui (Shark Minh Beta). As a company that develops and operates a chain of cinemas targeting the mid-range segment in Vietnam, Beta Media has developed 20 Beta Cinemas nationwide. Alongside the new Aeon Beta Cinema brand developed by the joint venture, the Beta Cinemas brand will continue to be promoted by Beta Media to serve the mass market segment in Vietnam.

With the establishment of the joint venture between Aeon Entertainment and Beta Media, the cinema, film production, and distribution market will have an additional large-scale and high-class brand, contributing to enhancing the experience for cinema enthusiasts. At the same time, this joint venture is committed to building and developing the culture and relations between Vietnam and Japan, contributing to the sustainable development of the community and society.

ARK Invest Sold $14.8M of Coinbase Shares Thursday Ahead of the Exchange’s Earnings Report

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Coinbase revenue beat Wall Street analysts’ expectations, while profit came in lower than the consensus.

Cathie Wood’s investment company ARK Invest sold $14.8 million worth of crypto exchange Coinbase (COIN) shares on Thursday, the biggest single-day divestment since May 7, ahead of the exchange’s second-quarter earnings announcement.

The divestment means the company sold more Coinbase shares on the first day of August than in the previous two months combined. It sold $2.88 million of the shares in June and $7.93 million in July.

After the market closed, Coinbase reported second-quarter revenue that beat Wall Street analysts’ expectations. Profit, however, came in lower than the consensus. The exchange’s shares, which fell 5.2% to $212.64 during regular trading, rallied briefly after the report and were little changed in pre-market trading.

ARK sold a total of 69,069 COIN shares across its Next Generation Internet ETF (ARKW) and Fintech Innovation ETF (ARKF). The company’s share sales are often made out of necessity, to keep within its own exposure guidelines that avoid one holding accounting for more than 10% of an ETF’s total weighting. COIN accounts for 6.74% of ARKW and 9.69% of ARKF.

Indian Survey Reveals Impact of Crypto Taxes and Anti-Money Laundering Rules on Investors

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The study was conducted to assess how savvy investors are engaging with traditional finance, crypto and stablecoins in their investment portfolios.

India should consider revising its taxes on crypto and not depend on its anti-money laundering rules to reverse the impact of those high taxes, the latest survey of savvy Indian investors by a New Delhi-based technology policy think tank revealed.

The study by the Esya Centre also found that Indian investors are considerably aware of regulations relating to the taxation of cryptocurrencies (58%) and money laundering (52%), and prefer collateralized stablecoins (93%) over algorithmic ones.

The survey was conducted in March and April in five urban cities: Ahmedabad, Bengaluru, Delhi, Jaipur, and Lucknow and focused on 1,342 highly educated respondents.

Critically, the study found that India’s “anti-money laundering law has led to a shift in favor of equity investments compared to crypto investments (by 8 percent).”

Since last year, India has required crypto businesses to register with the Financial Intelligence Unit (FIU), the country’s anti-money laundering unit, to comply with processes under the Prevention of Money Laundering Act (PMLA).

Despite evidence-backed studies by Esya and others calling for reduction, India has kept high crypto taxes unchanged since introducing them in 2022.

Esya’s latest survey found that knowledge of the “tax regulations not only increases investment in crypto assets (by 10 percent), but also investment via foreign crypto platforms (by 15 percent).”

That trend was reversed to some extent once India blocked as many as nine off shore exchanges, some of which have now been registered in India.

The survey found that some Indian investors were circumventing offshore exchanges’ URL blocking, suggesting that the anti-money laundering laws were not “sufficient to reverse or neutralize the impact of tax regulations.”

Thus, the think tank reiterated its suggestion that the government should “consider revising the tax rules for crypto assets to prevent offshoring” and that “future attempts by the government to nudge consumers to engage responsibly in the crypto asset market should be in consultation with crypto exchanges.”

All the respondents considered crypto assets to be very attractive as an “additional investment opportunity and for cross-border transactions,” while NFTs and stablecoins were “not perceived as similarly lucrative.”

Import/Export into the USA: A Comprehensive Guide to Made in Vietnam Products

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The supply chain business has changed a lot during the last few years of globalization, and a lot of firms are now seeking alternatives to China in their manufacturing needs.

The country that has gained immense popularity in this aspect is Vietnam. Vietnam has gained ground in international commerce because of the soundness of its manufacturing and the trade deal it has with the United States.

Thus, it is now considered as one of the key players in the global trade arena. This article aims to delve into the intricacies of Made in Vietnam products’ import into the USA, thus bringing useful information and practical tips for small business owners, and entrepreneurs.

Why Choose Vietnam for Manufacturing?

There has been significant growth in the manufacturing sector in Vietnam to be now seen as a feasible alternative to the traditional manufacturing giants.

Vietnam is a better choice for getting things done quickly and with quality due to a variety of reasons that make it attractive for sourcing products:

Lower Tariffs: Vietnam provides a medium through which the United States can reduce the tariffs of goods imported from it when compared to importing the genuine goods from China. Lower tariffs are mostly because of good quality trade agreements between the USA and Vietnam
Diverse Manufacturing Capabilities: The main product output areas of Vietnam such as textiles, electronics, furniture, and home decor are getting better at all the stages from production to delivery-a considerable feature.
Quality and Ethical Sourcing: Suppliers from Vietnam are not only capable of producing high-quality products but are also known for their fair labor practices and following the regulations.

>> Related article : The Best of ‘Made in Vietnam’ products for Sourcing

Key Challenges in Sourcing from Vietnam

Vietnam has numerous benefits, but firms are required to be able to tackle some challenges as well:

Time Zone Differences: Coordinating with suppliers in Vietnam requires dealing with the significant time difference at first, hence the relevance of this aspect to communication and project timelines can be affected.
Language Barriers: Besides the fact that some Vietnamese suppliers speak English, the entire language area is still faced with the problem of ensuring comfortable and accurate communication.
Finding Reliable Suppliers: Stabilizing the products and the consistency of the manufacturers are magnificent. Preliminary to purchase of essential materials, the product supplier has to make sure the suppliers they engage are first of all authentic and that they produce materials that meet changing quality standards.

Steps to Importing Made in Vietnam Products to the USA

Identifying Reliable Suppliers

A reliable supplier is crucial for successful import activities:

Use e-commerce platforms like Alibaba, Global Sources, and Vietnam-specific trade directories to find prospective suppliers.
Check for certifications, testimonials, and reviews. Request samples to assess product quality.
Conduct Due Diligence: Use third-party inspection services to verify the supplier’s facilities and ensure international compliance.

>> Related article : How do I find the best sourcing agents in Vietnam?

Understanding Regulations and Compliance

Staying compliant with regulations is essential:

Every product has an HS (Harmonized System) code determining duty tariffs and regulations. Consult your transport agent or customs broker for proper classification.
Most products imported into the USA don’t require licenses, but items like health products, agricultural goods, and chemicals might need specific authorizations.
Tariff rates vary by product and origin. For example, furniture from Vietnam may have a tariff of 3-4%, while similar products from China may face higher tariffs due to trade tensions.

Managing Logistics and Freight Forwarding

Efficient logistics management ensures timely and cost-effective deliveries:

Partner with a knowledgeable freight forwarder to handle customs clearance and documentation, ensuring smooth shipment processes.
Choose air freight for valuable or time-sensitive items for faster delivery, while sea freight is more cost-effective for bulk shipments.

Quality Control and Risk Management

Maintaining product quality and mitigating risks are essential:

Use local sourcing agents or third-party control firms to oversee production and inspections, ensuring compliance and quality.
Conduct regular audits and quality checks to ensure products meet standards before shipment.

Bringing in products that are Made in Vietnam to the USA has profits such as lower tariffs, diverse product offerings, and high-quality manufacturing.

The challenges of supplier verification, regulatory compliance, logistics management, quality control, and the possible benefits are being investigated by both new suppliers and established importers. Importing products from Vietnam, which could be done even if a company is already experienced, is a promise of adding on products along with the other material of the company.