Vietnam Insider - Page 178 of 1523

Airlines still have many empty seats despite summer peak season

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According to the Civil Aviation Authority, the booking rate from June 15 to July 15 remains relatively low, with few routes having a rate above 50%.

The booking rate on peak summer flights is only at a low average. Photo: Department of Aviation.

The Civil Aviation Authority stated that high ticket booking rates are only seen on certain routes connecting tourist destinations from various localities.

Specifically, updated data on June 14 shows that the average booking rate on routes from Hanoi and Ho Chi Minh City to localities reaches around 50% on close dates and weekends. For dates further out, this rate only ranges from 20-40%.

Some tourist routes from Hanoi/Ho Chi Minh City have higher than average rates, such as Hanoi – Quy Nhon (nearly 81% on June 15; 72.5% on June 16), Hanoi – Phu Quoc (75% on June 15), Hanoi – Nha Trang (73% on June 15; 64.9% on June 16), Ho Chi Minh City – Nha Trang (nearly 78% on June 15), and Ho Chi Minh City – Dien Bien (78% on June 15).

On routes from localities to Hanoi and Ho Chi Minh City, a similar trend in booking rates is observed. The average rate is over 60% on close dates and 20-40% on further dates.

Routes from localities with prominent tourist destinations also show some routes with higher rates, such as Nha Trang – Hanoi (70.5% on June 15; 76% on June 16), Hue – Hanoi (77% on June 15; 93% on June 16), Quy Nhon – Hanoi (89% on June 15; 87.5% on June 16), and Dong Hoi – Ho Chi Minh City (82.5% on June 15; 88% on June 16).

This indicates that flights still have quite a few empty seats, and customers can completely buy last-minute tickets without experiencing the “sold out” situation seen during the Tet holiday.

Regarding airfares, the Civil Aviation Authority noted that domestic airlines currently offer a variety of ticket prices for operated routes, including many prices significantly lower than the ceiling rate regulated for basic economy class on domestic routes.

For example, comparing the ticket prices for departure on close dates and weekends, such as June 15, on high booking routes like Hanoi – Quy Nhon, airlines offer prices excluding taxes and fees ranging from 1.9 million VND (Bamboo Airways) to 2.4 million VND (Vietnam Airlines), equivalent to 67-83% of the maximum regulated rate of 2.89 million VND/one-way. For the Hanoi – Phu Quoc route, ticket prices excluding taxes and fees range from 2.7 million VND (Vietnam Airlines) to 3.4 million VND (Vietjet Air), equivalent to 69-87% of the maximum regulated rate of 4 million VND/one-way.

For dates further out, airlines have announced many low prices for passengers to choose from.

The aviation authority affirms that by planning to book flights early and far from the departure date, passengers have more opportunities to secure tickets at prices that suit their conditions and travel needs.

Additionally, passengers planning their travel and booking tickets early will help airlines allocate resources, optimize aircraft operations, reduce flight cancellations, and ease pressure in the context of a shrinking fleet as currently seen.

@Znews

Global Peace Index 2024 declines

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The Global Peace Index has just been published, covering 163 countries and territories, accounting for 99.7% of the world’s population.

This year, Vietnam is ranked as the 41st most peaceful country out of the 163 countries and territories studied in the Global Peace Index 2024.

In the Asia-Pacific region, Vietnam ranks 6th in terms of peace, following New Zealand, Singapore, Malaysia, Japan, and Australia, and ahead of Mongolia, South Korea, Indonesia, Laos, Cambodia, Thailand, etc. China holds a low position in this index, ranking 15th in the region, above the Philippines, Papua New Guinea, Myanmar, and North Korea.

Peaceful scene in Hoi An

The Global Peace Index study is conducted annually by the Australia-based Institute for Economics and Peace to measure the state of peace in a country across three domains: societal safety and security, the extent of ongoing domestic and international conflict, and the degree of militarization.

In Southeast Asia, Malaysia has made significant progress, jumping from 19th place in 2023 to 10th place. Compared to neighboring countries, Singapore ranks 5th globally in terms of peace, followed by Vietnam (41), Indonesia (48), Laos (49), Cambodia (70), Thailand (75), and Myanmar (148).

Additionally, the Asia-Pacific region experienced a slight decrease in peace by 0.1% in 2024, maintaining its status as the second most peaceful region in the world since 2017.

The index also shows a global trend of declining peace over the past 16 years, with each country’s average score decreasing by 4.5% since the index’s inception in 2008.

Iceland remains the most peaceful country globally, followed by Ireland in second place, Austria in third, New Zealand in fourth, and Singapore in fifth. The remaining five spots in the top 10 include Switzerland, Portugal, Denmark, Slovenia, and Malaysia.

Peace Index Ranking 2024

Conversely, Yemen is identified as the least peaceful country in the world, along with Sudan (162), South Sudan (161), Afghanistan (160), and Ukraine (159).

Of the 163 ranked countries, 95 countries have seen a decline in peace levels, 66 countries have improved, and 2 countries have seen no change. Seventeen out of 23 indicators worsened between 2008 and 2023, while seven indicators improved.

The Global Peace Index serves as a leading measure of world peace, providing comprehensive data-driven insights into peace trends, their economic and strategic significance, and promoting peaceful societies.

@Thanhnien.vn

Agoda: Vung Tau, Phan Thiet attract tourists seeking to escape the heat

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Vung Tau and Phan Thiet are the top destinations in search queries for coastal “escape from the heat” vacations among Vietnamese tourists, according to the latest announcement from the Agoda platform.

A corner of the coastal city of Vung Tau. Photo: TL

According to data recently released by Agoda, coastal and mountainous destinations are the most searched by Vietnamese tourists for summer vacations from April to August, accounting for 80% of the top 10 search queries.

Under the sweltering summer weather, the cities of Vung Tau (Ba Ria – Vung Tau) and Phan Thiet (Binh Thuan) are the two most beloved destinations by Vietnamese tourists, leading in searches for coastal heat-escape spots.

The cities of Da Nang and Nha Trang (Khanh Hoa) also have high search volumes thanks to their beautiful beaches and cool weather. This reflects the trend of beach tourism among domestic tourists during the extreme hot weather. On the other hand, Da Lat also attracts a large number of tourists who love the cool climate of the mountainous area.

Mr. Vu Ngoc Lam, Director of Agoda Vietnam, commented that the preference for beach and mountain destinations indicates that tourists are seeking comfort and relaxation to escape the heat. Additionally, Agoda recorded a 12% increase in total search queries for domestic destinations in April compared to the same period, reflecting the interest of domestic tourists in “cooling” destinations during the summer.

@SGtiepthi

CG. Pham Hoang Minh-Inserting Vietnam’s Financial Dream

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KKR VN is one of the world’s largest investment firms investing in all private markets in all types of assets around the world, our mission is to strengthen companies and communities, and help secure the future of the organizations and individuals who are counting on us. We have a deep commitment to our clients and the companies in our portfolio and believe in common success.

Prime Minister Pham Minh Chinh Meets with Mr. David Petraeus, Co-Owner of the Foundation and President of the Institute KKR VN Investment Fund Demand

KKR VN is an American global investment company, one of the largest private equity funds in the world, with 33 offices around the world, and has completed more than 280 investments in companies with a total value of 545 billion US dollars, and the total assets of the company are about 470 billion US dollars. KKR has invested more than $1.5 billion in Vietnam.

We look forward to providing high-quality alternative investment solutions built to navigate any market environment. These are the same types of opportunities that institutions have approached for decades, tailored to meet the needs of qualified individual investors.

Qualified individual investors have access to a comprehensive platform of private market strategy managed by our experienced investment team. Our enrichment strategy invests in trades just like our institutional products.

We have designed our strategies to reduce the complexity of investing in the private market. Our Leadership Thinking and Education material aims to help financial professionals and their clients better understand alternatives and the macro environment.

We seek to win the trust of our customers through common goals and common success. Our time-tested collaborative culture and investment process help us to better seek opportunities, evaluate investments, manage risks and serve customer needs.

Prime Minister Pham Minh Chinh Meets with Mr. David Petraeus, Co-Owner of the Foundation and President of the Institute KKR VN Investment Fund Demand

Mr. Pham Hoang Minh was born on June 12/06/1970 in Hanoi, the largest political and economic center city in Vietnam. Always at the forefront of finance, culture, media, educational research and transportation. Hanoi has also become the most dynamic city in Vietnam due to its special geographical location.After graduating from high school, Mr. Fan Huangming passed the School of Economics of Hanoi University with excellent results and graduated with a master’s degree in economics in 1997. After graduation, he followed his father’s advice to go to the United States to continue his master’s degree in finance and economics at the University of Virginia (UVA) in 1998, and then transferred to the University of California, Berkeley in 2002 to study finance.

After receiving his Ph.D. in 2005, he returned to Vietnam to live and take care of his parents for a year, and then returned to the United States at the end of 2006. At this time, he was introduced by his classmates and met Bill Gross. He also participated in forums and seminars shared by Bill Gross. When he studied macroeconomics, he had a very unique vision of Vietnam’s macroeconomics. He has a very unique view of Vietnam’s economy. After his studies, he successfully joined the securities investment department of KKR, the world’s leading fund, as a senior adviser and analyst in early 2007.

From the end of 2008, he was transferred to KKR Vietnam’s headquarters in Asia, opening offices in Tokyo and Hong Kong.In Japan as a securities investment advisor, during his 8 years at KKR VN, he applied his professional knowledge, accumulated personal relationships and internal information of the company to accumulate nearly 32 million US dollars after 8 years of investment. Basically achieve financial freedom. He is currently the CEO of KKR Vietnam Asia Pacific Headquarters (Vietnam Market Management Branch), mainly working in the Vietnamese market.

This time, when trying to enter the Vietnamese market, Mr. Pham Hoang Minh will use his close relationship and rich work experience to successfully complete the established work goals. The success of the first phase of “Planting the Wings of Vietnam’s Financial Dream” has brought great personal prestige to Mr. Pham Hoang Minh, and the related work of the second phase in 2024 is currently being prepared.

In the near future, with the cooperation of KKR VN, the Vietnam Investor Support Plan (2024) will be implemented directly by CG: Pham Hoang Minh, and the investment information team will be held by experts. It is expected to bring a “profit wave” to Vietnamese retail investors and win the Vietnamese stock investment market with confidence in 2024

KKR VN Investment Fund Volunteers in (Binh Duong)

Children receive congenital heart screening by KKR Vietnam Investment Fund

KKR Vietnam Investment Fund volunteers to support KKR Vietnam investors in continuing to carry out community activities and support investors in the context of volatile stock markets.Sponsorship of treatment costs for pediatric cardiovascular patients in Pingyang

Following the warm journey of 2023, KKR Vietnam Investment Fund cooperated with Ho Chi Minh City Heart Hospital in October 2023 to fund the treatment of some children diagnosed with cardiovascular diseases. Some were assigned surgery and early intervention.

KKR Vietnam Investment Fund sympathized with the very difficult situation of some children in Di’an Commune, Binh Duong Province, visited them, presented them with basic gifts, and funded all treatment expenses. They were diagnosed with congenital heart disease and indicated an umbrella occlusion of the ductus arteriosus. Thanks to early examination, the children and their families are aware of the disease and can be completely cured.

Here’s what you should do in Hanoi with 48 hours according to Michelin guide

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If you have just 48 hours to explore Hanoi, the Michelin Guide provides a perfect itinerary for experiencing the old town, savoring exquisite cuisine, and visiting the city’s parks and historical landmarks.

Hanoi, according to the Michelin Guide, is a vibrant mix of history, culture, and modern elegance. The city’s dynamic streets, teeming with motorbikes and street vendors, contrast with the serene lakes and ancient temples, offering a unique blend of energy and tranquility.

Day 1: Embracing Tradition and History

Morning

Start your day with a leisurely walk through the old town. Enjoy a coffee at one of the many cafes on Trieu Viet Vuong Street in the Hai Ba Trung district and soak in the lively atmosphere. For a touch of luxury and history, try the egg coffee at the Sofitel Metropole Legend Hanoi hotel, a landmark since 1901.

For an early morning treat, head to Pho Bo Au Trieu for a bowl of pho, a local favorite. This restaurant is renowned for its rich, fatty bone broth, simmered for 10 hours—a recipe that has been perfected over four generations.

Noon

For lunch, visit Bun Cha Lien Huong in the Hai Ba Trung district, famously known as “Bun cha Obama” after the former US President dined here. The “Obama Combo” includes a seafood spring roll, a special bowl of vermicelli, and a bottle of Hanoi beer. Bun cha is a quintessential Hanoi dish, featuring a delicious mix of pork, meat patties, herbs, and lettuce. Be sure to try the succulent pork skewers for a complete experience.

Afternoon

The Michelin Guide recommends exploring the ancient architecture along Tran Hung Dao, Ly Thuong Kiet, and Hai Ba Trung streets. Visit the Vietnamese Women’s Museum or Hoa Lo Prison for a brief but insightful look into the city’s history.

Evening

For dinner, enjoy the ambiance of 1946 Cua Bac restaurant, housed in a striking yellow-green building. Delight in their signature dishes like fried crab and porridge hot pot.

Day 2: Parks, Gardens, and Cultural Heritage

Morning

Begin your second day with a visit to Thong Nhat Park, one of central Hanoi’s largest parks. Immerse yourself in the lively atmosphere as locals engage in various activities.

Noon

For lunch, dine at the Michelin-starred Azabu restaurant located on the second floor of the Hotel du Parc. The value menu offers a delightful selection of sushi and sashimi dishes.

Afternoon

Admire the Hanoi Opera House, an iconic structure with bold French architecture, situated southeast of Hoan Kiem Lake. Nearby, the National Museum of History houses a vast collection of artifacts that showcase Vietnam’s rich past.

Hanoi Opera House. Credit: Olivier Ochanine

Evening

Conclude your trip with a meal at Habakuk, a Bib Gourmand restaurant known for its beautifully presented dishes at reasonable prices. If you wish to indulge in a Michelin Star experience, visit Hibana by Koki. Chef Hiroshi Yamaguchi crafts dishes with complex flavors using premium ingredients flown in twice weekly from Japan, including abalone, spiny lobster, sea urchin, Yaeyama Kyori beef, and Hokkaido hairy crab.

Night

End your last night in Hanoi with creative cocktails at Divas Lounge, located in the Capella Hanoi hotel. This stylish bar offers an art deco “dream” setting where guests can enjoy Vietnamese-inspired cocktails, tapas, and observe the rhythm of Hanoi life from the courtyard—a perfect farewell to this enchanting city.

Thailand’s National Assembly Passes Same-Sex Marriage Law, Leading Southeast Asia

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On June 18, the Thai Senate approved a bill previously passed by the House of Representatives, with a vote of 130 in favor, 4 against, and 18 abstentions.

This bill now awaits the King’s approval and will take effect 120 days post-approval, making Thailand the third country in Asia to recognize same-sex marriage after Nepal and Taiwan.

The LGBTQ+ community is waiting for the Senate to pass the historic decision on same-sex marriage, on June 18. (Photo: REUTERS)

LGBTQ+ activists celebrate this as a historic milestone, acknowledging over a decade of advocacy and political efforts. The new law ensures same-sex couples enjoy the same legal benefits as heterosexual married couples, including inheritance and adoption rights.

Thailand’s reputation for LGBTQ+ inclusivity has already made it a popular tourist destination. The recent Pride Month celebrations in Bangkok, featuring Prime Minister Srettha Thavisin in a rainbow shirt, underscored the nation’s progressive stance.

@Reuters

Northern and Central regions continue to experience intense heat

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On June 18, the Northern and Central regions continue to experience intense heat, with temperatures in some areas exceeding 39 degrees Celsius. However, the heat intensity in the North is expected to gradually decrease over the coming days.

According to the National Center for Hydrometeorological Forecasting, the Northern mountainous region will have scattered showers and thunderstorms, with local heavy rainfall ranging from 15-30mm, and in some areas, over 70mm.

Regional Weather Forecasts

Northern Delta, Hoa Binh, and Thanh Hoa to Quang Ngai: These areas are experiencing very hot conditions, with peak temperatures generally between 36-39 degrees Celsius, and in some places, above 39 degrees Celsius.
Other Northern Areas and Binh Dinh to Ninh Thuan: These regions are also hot, with temperatures ranging from 35-37 degrees Celsius, and some spots exceeding 37 degrees Celsius. Notably, Lai Chau, Dien Bien, and Son La are not experiencing widespread heatwaves.

Upcoming Changes

The meteorological agency forecasts that around June 22, the Northern region will see scattered showers and thunderstorms, mainly in the evenings and nights, leading to a decrease in daytime temperatures.

From the late afternoon and evening of June 20 to June 23, areas from Da Nang to Binh Thuan are likely to experience scattered showers and thunderstorms.

Detailed Weather Forecast for June 18, 2024

Hanoi: Expect hot and sunny conditions during the day, with occasional showers and thunderstorms in the evening and night. The temperature will range from a low of 26-29 degrees Celsius to a high of 36-39 degrees Celsius. Thunderstorms may bring tornadoes, lightning, hail, and strong winds.
Northwest: Sunny and hot in some areas, especially intense in Hoa Binh. Scattered nighttime showers and thunderstorms with localized heavy rain. Temperatures will vary between 25-28 degrees Celsius, dipping below 24 degrees Celsius in some places, and highs of 32-35 degrees Celsius, exceeding 35 degrees Celsius in Hoa Binh at 37-39 degrees Celsius.
Northeast: Morning and nighttime showers and thunderstorms in the mountainous areas, with sunny and hot conditions in the afternoon. Midlands and plains will also be hot, with evening and nighttime thunderstorms. Temperatures will be from 26-29 degrees Celsius to 35-38 degrees Celsius, exceeding 38 degrees Celsius in some areas, while mountainous regions will see 32-35 degrees Celsius, with some spots over 35 degrees Celsius.
Thanh Hoa to Thua Thien Hue: Daytime heat and extreme temperatures in some locations, with evening and nighttime thunderstorms. Temperatures will range from 28-31 degrees Celsius to highs of 36-39 degrees Celsius, with some areas exceeding 39 degrees Celsius.
Da Nang to Binh Thuan: Intense daytime heat, particularly severe in the northern part, with occasional evening and nighttime showers and thunderstorms. Temperatures will range from 26-29 degrees Celsius to 35-38 degrees Celsius, exceeding 39 degrees Celsius in some areas, while Binh Thuan will see 32-34 degrees Celsius.
Central Highlands: Sunny during the day with evening and nighttime showers and thunderstorms. Temperatures will range from 21-24 degrees Celsius to highs of 31-34 degrees Celsius.
Southern Region: Sunny during the day with evening and nighttime showers and thunderstorms. Temperatures will vary from 25-28 degrees Celsius to 32-35 degrees Celsius.

During thunderstorms across all regions, there is a risk of tornadoes, lightning, hail, and strong winds.

Hanoi Needs Over 10,000 More Fire Hydrants to Enhance Fire Safety

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In August 2023, the Hanoi People’s Committee tasked the City Police with evaluating the current water supply system for fire protection. The survey revealed that Hanoi requires approximately 10,167 additional hydrants, 1,673 water tanks, 848 water intake wharves, and collection holes. Hoan Kiem district alone needs 310 hydrants, 4 water tanks, 3 collection holes, and 1 water intake wharf.

Based on these findings, the City Police have requested the Hanoi People’s Committee and the City Agricultural and Technical Infrastructure Construction Investment Project Management Board to invest in building the necessary water supply systems. Efforts are ongoing to coordinate with clean water companies to prioritize densely populated and high-risk areas.

Hanoi currently has nearly 4,000 hydrants managed by the Department of Construction. The city has approved installing 675 hydrants and 31 sumps in 7 districts, including Hoan Kiem, which is set to receive 40 new water towers. The city is also focusing on deploying fire protection systems in narrow alleys and densely populated areas that are hard for fire engines to access.

Hanoi has recently experienced several significant fires with severe consequences. On June 16, a fire in Hoang Mai district killed 4 people. On May 24, a fire in Cau Giay district claimed 14 lives. In September 2023, a fire in Thanh Xuan district resulted in 56 deaths. These incidents highlight the urgent need for better fire safety infrastructure.

The Hanoi People’s Committee continues to emphasize the importance of adhering to fire safety regulations and is actively working to enhance the city’s fire prevention and response systems to protect residents and property.

Rising Economy of Vietnam – Asia’s Next Powerhouse?

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From its war-torn past, Vietnam has transformed into a leading Southeast Asian market, experiencing impressive growth rates of 6-7% per year over the last decade.

This significant upward trend is reflected in the tripling of its per capita income over the past twenty years. Currently recognized as a frontier market by MSCI, the Vietnamese government aims to elevate the country’s status to an emerging market by 2025, opening up a plethora of opportunities for both new entrants and established businesses in crucial sectors.

Even during challenging times like the COVID-19 pandemic, Vietnam demonstrated resilience and strength. The country acted swiftly and effectively, recovering faster than many others. Remarkably, Vietnam was one of the few countries to avoid a recession in 2023, achieving a 5% economic growth.

Key Factors Fueling Growth

How does a nation achieve such rapid economic growth?

Vietnam’s secret lies in its market-oriented economic policies. Here are some key drivers of Vietnam’s growth:

Economic Policies

Vietnam’s shift to market-based economic policies has been crucial to its growth. By transforming state-owned enterprises into private companies and reducing state intervention, the country has fostered a dynamic and competitive economic environment, leading to increased productivity and investment opportunities.

Exports and Foreign Investments

Vietnam’s success is also driven by its emphasis on boosting exports and attracting foreign investment. The country has diversified its export portfolio, becoming a vital player in global supply chains.

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

In 2023, despite global economic challenges, Vietnam attracted $36.6 billion in foreign direct investment (FDI), highlighting its appeal to international businesses.

Trade agreements with key markets, such as the EU-Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), facilitate the global distribution of Vietnamese goods.

Political Stability

Vietnam’s stable political environment and competitive labor costs have made it a magnet for foreign investors. The ease of setting up 100% foreign-owned companies in key sectors and its strategic location in Asia have encouraged international companies to establish manufacturing bases and distribution points in Vietnam.

Key Sectors for Business Opportunities

If you’re an entrepreneur looking to capitalize on Vietnam’s booming economy, here are three sectors full of opportunity:

Import/Export

Despite a 15.5% decline in 2023, Vietnam remains a significant player in the global furniture market. The country’s textile and apparel exports reached $40.3 billion, and its footwear industry exported $20.24 billion, showcasing Vietnam’s strong presence in these sectors.

>> Related article : How to Implement a Global Sourcing Strategy with Vietnam?

IT

Vietnam’s IT market, driven by the outsourcing sector, is projected to reach $594.40 million by 2024. The country’s thriving startup ecosystem includes internationally recognized ventures like Sky Mavis and VNPay.

Hospitality and F&B

Ho Chi Minh City and Hanoi are prime locations for hospitality ventures, offering opportunities from street food stalls to upscale restaurants. The hospitality sector is competitive but rewarding for those with a passion for food and strong financial backing.

Future Prospects

As Vietnam continues its ascent, the country’s potential as an Asian powerhouse is undeniable. The future looks bright, with ongoing infrastructure development, a young and skilled workforce, and a commitment to attracting foreign investment.

Vietnam’s economy is diversifying, with rapid growth in the IT, tourism, and finance sectors, contributing to a more balanced and resilient economic landscape.

>> Related article : Starting a business in Vietnam: Pros and Cons

With its robust growth trajectory, Vietnam is set to become a major economic player in the region and beyond, overcoming challenges and seizing new opportunities for a prosperous future.

Ho Chi Minh City’s First Metro Line Encounters Additional Delays Yet Again. Here’s Why

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Ho Chi Minh City has once again proposed a delay in the completion of the Metro Line No. 1 project, pushing the expected finish to the end of the fourth quarter. The city faces mounting challenges and complications, marking yet another setback for the much-anticipated Metro 1 project.

Originally approved in 2007 with an anticipated operational date in 2015, Metro Line No. 1 Ben Thanh – Suoi Tien has seen its launch date pushed back multiple times, with adjustments made in 2011, 2015, 2019, and most recently in 2023, aiming for a fourth-quarter start.

As of June 2024, Metro Line No. 1 has achieved 98% completion, with trains undergoing smooth route testing. This progress has bolstered the confidence of Ho Chi Minh City residents that the metro’s inauguration is imminent.

Despite this optimism, city authorities have now requested a fifth extension to the project’s timeline, delaying operations until the end of 2024—a full nine years behind the original schedule.

The project has been plagued by continuous delays. In 2007, Metro Line No. 1 was greenlit with an investment of over 17,387 billion VND and a 2015 launch target. By 2011, the budget ballooned to 47,325 billion VND, and the operational date was postponed to 2018—marking the first of several delays due to site clearance issues and redesigns for the Ben Thanh underground station to accommodate multiple metro lines.

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In September 2019, the Ho Chi Minh City Urban Railway Management Board announced a further delay to the fourth quarter of 2021 due to legal and financial complications and design alterations.

October 2020 saw the arrival of the first train at Long Binh depot when Metro Line No. 1 was over three-quarters complete. This milestone signified a shift from construction to testing and operation phases.

Early in 2021, it became clear that the project would not meet its year-end deadline but aimed for full line testing and commercial operation by Q4/2022. However, two months before this target date, in October 2022, the Ho Chi Minh City People’s Committee sought approval from higher authorities to extend completion to Q4/2023.

The Covid-19 pandemic’s disruption to foreign expert arrivals and material imports was cited as reasons for delays affecting key construction packages CP1a, CP1b, CP2, and CP3 (mechanical and electrical equipment procurement).

This fourth postponement came when the project was at a 92% completion rate. Following approval from relevant authorities, commitments were made to tightly control progress to ensure completion by the end of 2023.

Ho Chi Minh City’s Metro Line No. 1, after several delays, has raised the anticipation of residents eager to experience the city’s first urban railway powered by Japanese technology.

In August 2023, a significant milestone was achieved when Metro Train No. 1 underwent its inaugural full-route test, with the project at 95% completion—a momentous occasion following 11 years of construction.

Yet, the completion schedule has been deferred once more, with the latest proposal pushing the end date to the fourth quarter of 2024. This fifth postponement is attributed to various factors including construction delays, final acceptance, safety certification, operational training, and asset handover at project conclusion.

Experts estimate that each year’s delay in Metro Line No. 1’s progress costs Ho Chi Minh City approximately $1.3 billion due to traffic congestion. The city also faces additional repercussions concerning contract legality and potential litigation with foreign contractors.

The protracted delay in commencing commercial operations of Metro Line No. 1 not only represents a significant resource drain but also hampers the city’s public transport infrastructure development plan. As a pivotal element of this plan, the metro’s efficiency and the investment’s intended outcomes are compromised.

In response, the city is urged to decisively clear legal hurdles, expedite dispute resolution with contractors, and secure resources to meet the newly proposed deadline pending Prime Ministerial approval.

Presently, three lawsuits have emerged between the project investor and main contractors: two involving the Sumitomo – Cienco 6 Joint Venture and one with Hitachi, totaling billions of dong in claims.

To date, an agreement has been reached with the CP2 package contractor (Sumitomo and Cienco 6 Joint Venture), and preparations are underway to finalize an agreement with the CP1b package contractor (Shimizu – Maeda Joint Venture).

For the CP3 package, efforts are being coordinated with the contractor to establish a Dispute Adjudication Board (DAB) to expedite progress on CP3 and training for trial operations.

Financial Stability Board to Extend Its Work on Stablecoin Risks in Emerging and Developing Economies

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Members of the global financial stability body discussed areas that “warrant further attention” in the crypto sector during a meeting in Toronto last week.

The Financial Stability Board (FSB), which monitors the global financial system for systemic risk, said it will undertake further work on the challenges posed by stablecoins in emerging and developing economies.

The decision was taken during a meeting in Toronto of the FSB’s plenary, the sole decision-making body of the standard-setting and advisory organization, according to a Friday statement. A stablecoin is a cryptocurrency whose value is pegged to another asset, such as the dollar or gold.

The FSB has been one of the main architects of global crypto policy. Last year, along with the International Monetary Fund, it framed a joint policy paper on crypto, warning against implementing blanket bans to mitigate risks associated with the sector. At last week’s meeting, FSB members discussed areas that “warrant further attention” in the crypto sector.

“In emerging market and developing economies (EMDEs), crypto-assets pose particular challenges for monetary policy and capital flow management,” the FSB said. “Members discussed the challenges posed by the relatively higher levels of adoption and risks of global stablecoin arrangements in EMDEs. The FSB will undertake further work to consider how these challenges can be addressed.”

Stablecoin regulation has been a sticking point between the Group of 7 (G7) biggest industrialized nations and the larger G20. Those differences appear unresolved even as a G7 summit in Italy concluded last week.

Northern Vietnam Faces Soaring Temperatures: Tips for Staying Safe in the Heat

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Over the last three days, a western low-pressure area has affected the northern Vietnamese plains, leading to scorching sunny weather and temperatures soaring to 39 degrees Celsius in some regions, as reported by the National Center for Hydro-Meteorological Forecasting.

The plains are expected to remain hot, while mountainous regions are likely to experience rainfall, particularly in the afternoons and evenings.

According to U.S. weather service AccuWeather, Hanoi will see its highest daytime temperatures hover around 37-38 degrees this week, with nighttime temperatures dropping to 28-29 degrees. Higher elevations, such as Sa Pa in Lao Cai province, will enjoy cooler weather with temperatures ranging from 19-24 degrees.

Central Vietnam is also experiencing intense heat due to a low-pressure area and Foehn winds, with temperatures reaching up to 40 degrees in some places. The Thanh Hoa-Binh Dinh region is expected to face daytime highs of 40 degrees, while Phu Yen-Binh Thuan will see highs of around 37 degrees.

The southern regions and the Central Highlands are predicted to have fewer rainy days and more sunshine, with temperatures varying from 30-35 degrees.

Rains are forecasted for southern Vietnam and the Central Highlands around dusk until Friday, but by week’s end, more widespread rainfall is expected to return.

In light of the recent extreme heat conditions, health officials are urging the public to exercise caution and adopt safety measures to mitigate the risks associated with the sweltering temperatures.

Individuals are advised to maintain hydration by drinking ample water, even in the absence of thirst, and to avoid beverages containing caffeine or alcohol which can lead to dehydration. Staying indoors, particularly in air-conditioned environments, is recommended to avoid the health dangers posed by direct sun exposure.

Appropriate attire is also crucial; lightweight, light-colored, and loose-fitting clothing is ideal for staying cool. Additionally, taking cool showers or baths can effectively reduce body temperature.

For those requiring outdoor activity, scheduling such endeavors during cooler periods of the day, such as early morning or late evening, is suggested. The application of broad-spectrum sunscreen with a minimum SPF of 15 is essential for skin protection when outdoors.

A critical reminder issued is never to leave children, the elderly, or pets unattended in vehicles, as temperatures can escalate rapidly to life-threatening levels. Lastly, checking on vulnerable individuals, including young children, senior citizens, and those with underlying health conditions, is emphasized to ensure their well-being during this heatwave.

Vietnam Airlines Debuts Direct Route to Philippines, Boosting Tourism and Trade Ties

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Vietnam Airlines has recently initiated a direct flight service between Vietnam and the Philippines, marking its position as the first Vietnamese airline to provide a direct link to the archipelagic country.

The first flight, designated VN648, took off from Ho Chi Minh City at 12:50 AM on June 17 and arrived at Manila’s Ninoy Aquino International Airport at 4:20 AM on the same day.

The airline will schedule seven weekly flights connecting the two Southeast Asian nations, with four from Ho Chi Minh City to Manila and three from Hanoi to Manila.

The airline recognizes the Philippines as a market with significant potential and aims to cater to tourists, business travelers, and the Vietnamese community in the Philippines, which numbers close to 30,000, as well as the approximately 7,000 Filipinos residing in Vietnam.

Vietnam has been gaining popularity among Filipino tourists due to its close distance, reasonable travel expenses, and vibrant cultural scene. Conversely, the Philippines is a favored travel choice for Vietnamese tourists.

With the strengthening strategic partnership between Vietnam and the Philippines, the commencement of Vietnam Airlines’s direct flights is anticipated to foster a multitude of prospects for tourism, commerce, socio-economic progress, and cultural exchange between the two countries.

Từ Tuyệt vọng đến Sự tái sinh trong 22 ngày! Liệu pháp CAR-T Trung Quốc Tạo nên Phép mầu Sinh tồn cho Bệnh nhân Myeloma Thái Lan

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Chiến đấu vì tình yêu! “Hồi phục” và thấy cuộc sống mới: Câu chuyện về một bệnh nhân myeloma giai đoạn cuối của Thái Lan đã thất bại trong tất cả các phương pháp điều trị và bước vào đếm ngược cuộc đời của mình. Sau khi nhận liệu pháp CAR-T ở Trung Quốc, cô ấy đã được tái sinh một cách kỳ diệu.

Khi tất cả các phương pháp điều trị đã cạn kiệt và căn bệnh tiến triển nhanh chóng, bác sĩ xót xa nói rằng bà M không phản ứng với bất kỳ loại thuốc nào. Tình hình này chỉ có thể vào giai đoạn chăm sóc dưỡng lão cuối cùng, có nghĩa là bà M không còn cơ hội để chiến đấu với căn bệnh này nữa, và cuộc đời của bà đã bước vào đếm ngược. May mắn thay, gia đình bà M đã tìm thấy một hy vọng mới ở Trung Quốc – liệu pháp CAR-T. Bà M đến Trung Quốc cùng gia đình. Chỉ sau 22 ngày nhận liệu pháp BCMA CAR-T toàn diện đầu tiên trên thế giới, các khối u trên khắp cơ thể của bà đã biến mất một cách kỳ diệu, và tỷ lệ phản ứng đạt đến hoàn toàn giảm bệnh (CR). Bà M đã lấy lại cuộc sống mới!

(Lưu ý: Để bảo vệ quyền riêng tư của bệnh nhân, bài viết sử dụng bí danh, và quá trình điều kiện và điều trị đã được lược bỏ một chút)

Vào tháng 7 năm 2017, bà M, 58 tuổi, phát triển đau lưng, kéo dài trong vài tháng và sau đó trở nên tồi tệ hơn. Cô đã đến bệnh viện để kiểm tra chi tiết và được chẩn đoán mắc bệnh myeloma đa dạng. Để kiểm soát tình trạng càng sớm càng tốt, bà M đã nhận các phương pháp điều trị bao gồm PCD, DVD, bortezomib và lenalidomide, và cấy ghép tế bào gốc huyết học tự thân tại bệnh viện địa phương tốt nhất ở Thái Lan. Vào tháng 6 năm 2023, căn bệnh tái phát và không còn phản ứng với tất cả các phương pháp điều trị. Các bác sĩ địa phương nói với gia đình bà M rằng họ không còn cách nào khác ngoại trừ chăm sóc giảm nhẹ, có nghĩa là cuộc sống của bà M đã bước vào đếm ngược! Chỉ khi bà M đang trong tình trạng khốn khổ và cuộc sống của cô đang treo lơ lửng trên sợi chỉ, vào ngày 30 tháng 6 năm 2023, liệu pháp BCMA CAR-T toàn diện đầu tiên trên thế giới – Iggy Oronce đã được ra mắt ở Trung Quốc. Sự xuất hiện kịp thời của liệu pháp này đã trở thành một sợi rơm cứu mạng cho bà M. Bà M và gia đình cô quyết định đi đến Trung Quốc để tìm kiếm điều trị.

Vào tháng 9 năm 2023, nhóm của Giáo sư Li Ping tại Bệnh viện Tongji Thượng Hải đã phát triển một kế hoạch điều trị BCMA CAR-T cá nhân hóa cho bà M. Vào ngày 8 tháng 9 năm 2023, bà M chính thức bước vào quá trình điều trị CAR-T. Sau khi tất cả các mục kiểm tra đều đáp ứng yêu cầu, việc lấy máu bằng phương pháp apheresis đã được tiến hành đầu tiên. Điều trị cầu nối bắt đầu vào ngày 11 tháng 9 năm 2023; Xạ trị địa phương để giảm đau xương vào ngày 24 tháng 9; Hóa trị hủy diệt bạch cầu bằng fludarabine + cyclophosphamide từ ngày 9 đến 12 tháng 10; Cuối cùng, vào ngày 14 tháng 10 năm 2023, một túi nhỏ chất lỏng màu trắng sữa đã được truyền trở lại vào cơ thể của bà M. Bác sĩ nói rằng có hàng chục tỷ “tế bào T đặc biệt” trong đó có thể giết chính xác myeloma. Một khi nó vào cơ thể, nó sẽ bắt đầu chế độ quét điên cuồng để giết tất cả các tế bào ung thư. Điều gây sốc cho mọi người là kết quả kiểm tra 22 ngày sau khi điều trị CAR-T cho thấy bà M thực sự đạt được CR huyết học. Điều này có nghĩa là không thể phát hiện được tế bào ung thư trong máu, và cơn đau và thiếu máu của cô đã được đảo ngược. Đây đơn giản chỉ là một phép mầu! Mỗi ngày bây giờ đều quý giá với bà M. Cô có thể đi mua sắm và trò chuyện với gia đình, thưởng thức thức ăn ngon cùng nhau như một gia đình, và du lịch vòng quanh thế giới. Mọi thứ đều trở lại thời gian hạnh phúc trước khi cô ốm. Sự khác biệt duy nhất là bà M và gia đình cô đến một điểm đến cố định mỗi tháng, Thượng Hải, Trung Quốc. Họ đã quen với việc nghe những thông báo thiêng liêng từ các bác sĩ ở đây rằng họ không còn ung thư và đang trong giai đoạn giảm bệnh. Đây là hình ảnh thu nhỏ của vô số bệnh nhân ung thư vượt qua căn bệnh. Sự xuất hiện của liệu pháp tế bào T CAR-T đã mang lại hy vọng mới cho bệnh nhân ung thư. Tôi tin rằng trong tương lai, nhiều bệnh nhân như bà M sẽ lấy lại cuộc sống của mình.

Người giới thiệu:

[1] Yuting Yan và cộng sự. Blood Adv. 2019 8 tháng 10;3(19)：2895-2904.
[2] 2023 IMS. P-290.

Công ty: Công ty TNHH Công nghệ sinh học IASO Nam Kinh
Người liên hệ: Á Ma
Email: business@cartservice.org
Website: https://cartservice.org
Điện thoại: 400 966 5315
Thành phố：Nam Kinh, Trung Quốc
Địa chỉ: Tầng 8-10, tòa nhà D, Công viên Zhongdan, 3-1 Đường Xinjinhu, Khu mới Jiangbei, Quận Nam Kinh, Giang Tô 210018

Opening of Nha Trang beach tourism festival 2024

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On the evening of June 13th, at 2-4 Square, in Nha Trang City, Khanh Hoa Province, the opening ceremony of the Nha Trang Beach Tourism Festival 2024 took place under the theme “Nha Trang Bay Shining Bright.”

Nha Trang Beach Tourism Festival 2024 has the theme “Bright Nha Trang Pearl Bay” taking place from June 13 to June 16 with 200 tourism, service, trade and culinary booths. Photo: Khanh Hoa Newspaper

Speaking at the opening ceremony, Mr. Nguyen Trung Khanh, Director of the Vietnam National Administration of Tourism, remarked that Nha Trang is emerging as an attractive coastal tourist city for domestic and international visitors, serving as the gateway and heart of the South Central Coast and Central Highlands with increasingly synchronized infrastructure.

“The Nha Trang Beach Tourism Festival has become a gathering point, contributing extensively to the promotion and celebration of the beauty, potential, and strengths of the ‘Land of Agarwood, Sea, and Swallow’, attracting tourists and investors both domestically and internationally, and making practical contributions to local economic and social development,” Mr. Khanh shared.

The Nha Trang Beach Tourism Festival 2024 runs from June 13th to 16th, featuring over 200 booths showcasing tourism products, commerce, and cuisine in an open operating space, alongside a series of activities and events such as street art festivals, the “Hipfest Summer 2024” dance competition, the “Ocean Muse” bikini fashion show, culinary festivals, beer festivals, coffee festivals, fruit festivals, and local specialties.

Additionally, the festival includes other vibrant activities such as cyclo parades combined with ao dai performances, a Light Carnival parade, a Harley Davidson Motor parade, the Unique Nha Trang H-Marathon, and various outstanding sports activities on Nha Trang Bay.

According to the Khanh Hoa Province Department of Tourism, in 2022, the Nha Trang Beach Tourism Festival was successfully organized for the first time, leaving a strong impression on domestic and international tourists, promoting the image and distinctive tourism products of the region in general and specific enterprises.

This year’s Nha Trang Beach Tourism Festival is expected to attract between 350,000 to 400,000 domestic and international tourists to experience and engage in the vibrant activities of the festival.

@SGtiepthi