The Department of Transport of Ho Chi Minh City has issued a document to relevant units regarding the draft policy to support passengers using public transportation within the city.
Metro line No. 1 in Ho Chi Minh City is expected to be put into operation to serve people from October this year
The policy aims to encourage the public to use public transportation (including the bus system and urban railway – metro line 1) and implement fare exemptions or reductions for socially supported groups.
It is planned that the budget of Ho Chi Minh City will fully support ticket prices for revolutionaries before August 19, 1945; Heroic Vietnamese Mothers; veterans; individuals eligible for veteran-related policies; those affected by chemical warfare during the resistance war. Additionally, heavily disabled persons, older persons (Vietnamese citizens aged 60 and above), children under 6 years old or below 1.3 meters tall accompanied by adults will also benefit from this policy.
Students residing in Ho Chi Minh City will receive a 50% fare reduction on single tickets and monthly passes.
In particular, Ho Chi Minh City will allocate from the budget full fare support for passengers using the first urban railway line (metro line 1) and 17 bus routes connected to this metro line (from route number 153 to route number 169) for the first three months from the start of commercial operations of metro line 1.
According to the Department of Transport of Ho Chi Minh City, implementing fare exemptions or reductions demonstrates the city’s superior policies towards supported groups. Simultaneously, this is a solution to encourage people to form habits of using public passenger transportation and reduce the use of personal vehicles in daily life, thus contributing to the goal of reducing traffic congestion and accidents.
The Ben Thanh – Suoi Tien metro line is 19.7 km long with a total investment of over 43,700 billion VND sourced from ODA loans from the Japan International Cooperation Agency and counterpart funds from the budget of Ho Chi Minh City. This is the first urban railway project in Ho Chi Minh City, which commenced in 2012 and has faced numerous delays due to various difficulties. As of now, approximately 98% of the project has been completed.
The management board of the urban railway informed that testing of systems and trial runs along the entire line are continuously taking place day and night, alongside personnel training to prepare for operations. It is anticipated that by the end of September, the metro line 1 will complete its trial runs. By October, after safety inspections and approvals by relevant agencies, the trains can officially start serving the public.
After two flight routes to Shanghai and Chengdu, Vietjet continues to launch a direct route from Ho Chi Minh City to Xi’an (China) starting from April 29.
With 4 round-trip flights each week, Vietjet becomes a rare Vietnamese airline to operate direct flights from Vietnam to the ancient capital Xi’an of China, reducing the distance and travel time between these two locations.
Vietjet’s Ho Chi Minh City – Xi’an (China) route will commence on April 29, with 4 round-trip flights per week. Flights from Ho Chi Minh City to Xi’an will depart every Monday, Wednesday, Friday, and Sunday at 8:05 PM (local time) and arrive at Xi’an Xianyang International Airport at 1:30 AM the following day (local time). Return flights from Xi’an to Ho Chi Minh City will depart every Monday, Tuesday, Thursday, and Saturday at 2:30 AM (local time) from Xi’an and land in Ho Chi Minh City at 6:25 AM (local time).
Shorten travel time with 4 direct flights from Ho Chi Minh City – Xi’an every week with Vietjet.
Xi’an is the capital of Shaanxi Province, formerly the capital of 13 Chinese dynasties, and the birthplace of the illustrious Chinese civilization. This city marks the starting point of the legendary Silk Road, connecting trade and culture between Asia and Europe. Xi’an is renowned for its rich history, housing famous cultural treasures such as the Mausoleum of Qin Shi Huang, the Great Wild Goose Pagoda, and the Big Wild Goose Pagoda Park.
To celebrate the new flight route, passengers can book tickets with the “0 Dong ticket promotion” (excluding taxes and fees) every Friday until December 31 (excluding holidays and peak periods depending on market conditions), applicable across Vietjet’s international flight network on the website vietjetair.com and Vietjet Air mobile app.
New routes create opportunities for travelers to travel to all interesting destinations with Vietjet.
When booking with Vietjet, passengers will have the opportunity to explore inspiring new destinations with professional and dedicated crews, on comfortable modern aircraft. Passengers can also indulge in world and Vietnamese culinary delights with a diverse menu featuring fresh and delicious dishes like Pho Thin, Vietnamese baguette, and enjoy various special cultural and artistic programs at an altitude of 10,000 meters. Additionally, passengers can fly with peace of mind with free SkyCare insurance provided by Vietjet to all passengers and enjoy other special benefits with Vietjet SkyJoy loyalty program.
Alongside the promising growth in tourist numbers, Vietnam’s destinations have also been highly regarded by the international media, enabling access to a wide global audience.
The Sydney Morning Herald of Australia published an article on the importance of sustainable tourism, featuring a list of 20 experiences positively impacting the environment, ecology, and livelihoods of local people.
Among these, trekking tours through the Non Nuoc Cao Bang Geopark in the northern province of Cao Bang, Vietnam, recognized by UNESCO, made the list.
Photo: Vietnam Insider
Previously, the DestinAsian magazine’s Readers’ Choice Awards 2024 for the Asia-Pacific region honored Phu Quoc, ranking it 6th among the top 10 most beautiful islands in the area. Destinations were selected based on evaluations by experts and tourists, considering factors like attractiveness, experiences, local friendliness, cuisine, transportation, infrastructure, flight connections, and affordability.
TripAdvisor’s Travellers’ Choice 2024 – Best of the Best Destinations recognized Ha Long Bay (3rd place) and Sapa (5th place) in the list of the world’s top 25 destinations.
Meanwhile, Yahoo! Finance selected Hue as one of the 20 underrated travel destinations in Asia.
Not only the destinations, but certain Vietnamese dishes have also gained international attention. According to Taste Atlas’s ranking of the top 100 sandwiches in the world released on March 11, Vietnamese sandwiches (in general) were rated the highest with 4.6 out of 5 stars.
Two other variations of Vietnamese sandwiches were also highly rated by Taste Atlas, namely meat sandwiches (ranked 9th, 4.4/5 stars) and roasted pork sandwiches (ranked 29th, 4.3/5 stars).
Velo, in collaboration with its partner Lightnet, is pleased to announce the signing of a Memorandum of Understanding (MOU) with the Solana Foundation for its Laos Gold Project. Solana will act as the blockchain settlement layer and Velo will be the backbone infrastructure layer as well as the designated clearing house for Laos’ digital gold transactions under the Gold Project. This combination will ensure efficient and secure processing of transactions on the blockchain.
Velo plays a crucial role in facilitating the overall operation and reliability of the clearing house function. It is responsible for validating and finalizing transactions securely, upholding trust, and ensuring the smooth execution of contractual obligations between buyers and sellers settled on Solana’s blockchain.
The MOU also includes a robust bridging mechanism to enhance interoperability between Solana’s L1, Nova, and EVM-compatible chains. This initiative aligns with the blockchain principle of interconnectedness, promoting connectivity and accessibility of digital assets across different blockchain networks. The collaboration marks a significant advancement, unlocking new possibilities for asset transfers, liquidity provision, and Web3 activities, meeting the rising demand for cross-chain transactions and contributing to the growth of the Web3 ecosystem.
Additionally, this agreement entails the implementation of comprehensive liquidity management protocols. These protocols include the development and maintenance of on-ramp and off-ramp facilities for assets on the Solana blockchain, further strengthening the framework for digital asset transactions. The goal is to roll this out in Southeast Asia and then globally.
This strategic initiative paves the way for Digital Gold to expand its user base, offering greater accessibility, particularly for users seeking a stable and secure store of value. Leveraging Solana’s technical expertise, this collaboration promises users a seamless integration of investment and financial opportunities in the evolving digital landscape.
About Velo Labs
Velo Labs is a global pioneer in Web3-based financial solutions, offering a cutting-edge liquidity and settlement network for secure, efficient value transfers. Backed by Stellar Network and CP Group, our reach has expanded beyond Southeast Asia and the Pacific, now serving partners worldwide. We connect and complement the gap between traditional banking infrastructure and Web3, leading the way in blockchain mass adoption. Our extensive Web3-based payment network and Lightnet, our licensed settlement partner, position us as a global heavyweight. Velo Labs offers a diverse range of Web3-based products, notably Orbit, tailored for individuals, merchants, corporations, and enterprises worldwide — dedicated to empowering global financial connectivity and expanding accessibility globally.
The managing executive of U.S.-based Rosen Partners LLC has expressed optimism about investment prospects in Vietnam, especially for entertainment complex projects, saying he believes in the viability of doing business here since the Southeast Asian country creates conditions for success.
Daniel Rosen, managing director of Rosen Partners LLC, an American corporation specializing in real estate and tourism development, made the comment when meeting with Vietnam’s Deputy Prime Minister Le Minh Khai in New York on Saturday (U.S. time).
The meeting was part of the Vietnamese official’s working visit to the U.S. from April 1 to 7 to attend the 2024 Vietnam Executive Leadership Program (VELP), which ended on April 3 in Boston, and take part in many other activities.
Rosen told Deputy PM Khai that the more localities he visited in Vietnam, the more he believed in the success of investment activities in this country.
He recalled that he had recently visited many localities in Vietnam and was really optimistic about investment prospects here, particularly for tourism-promotion projects such as world-class entertainment complexes, according to the Vietnam Government Portal.
Such projects will not only meet local recreational needs but also help introduce Vietnam’s unique cultural values to the world, contributing to attracting more international travelers to Vietnam, Rosen told Khai.
The executive affirmed that his firm believes that investment cooperation with Vietnam will bring success, as Vietnam is a very special country that provides elements for a successful business.
Deputy PM Khai welcomed Rosen Partners seeking opportunities to expand investment in Vietnam in real estate development and tourism.
He affirmed that Vietnam accompanies and offers the most favorable possible conditions for American companies to do business effectively, successfully, and sustainably in the Southeast Asian country.
During his Vietnam visit in November last year, Rosen had a meeting with Khai in Hanoi, at which the executive revealed that his firm was nurturing a plan to develop a world-class entertainment complex project in the capital city.
In addition to Rosen, Deputy PM Khai last weekend received many other representatives of American businesses, focusing on opportunities and plans for investment in Vietnam.
As part of his working visit, the Vietnamese official attended a business powwow hosted by the Business Council for International Understanding (BCIU), a non-profit U.S. business association, last Thursday.
He also met United Nations (UN) Deputy Secretary General Amina Mohammed, who asserted that the UN is ready to help Vietnam mobilize resources for the implementation of its sustainable development goals, including those on energy transition and climate change response.
The initial lock cap has been set at $200 million and will be adjusted to increase over time.
ENA, the native token of Ethena Labs, surged by 15% on Monday following the announcement of “season 2,” which includes a 50% increase in rewards for a portion of users.
The token is currently trading at $1.26 after debuting at $0.64 last week, according to CoinMarketCap. Ethena Labs is a decentralized finance (DeFi) protocol behind the yield earning USDe stablecoin.
As of April 8, users can lock in ENA for a minimum of seven days. Users who lock 50% or more of their ENA relative to their balance of USDe will receive a reward boost of 50%.
Blockchain analytics firm Lookonchain reported that three wallets withdrew a total of 11.9 million ENA ($15.23 million) from Binance in order to stake.
“Team and investor allocations, which are locked on vesting schedules, will not be able to participate in the $ENA lock,” Ethena Labs wrote in a blog post.
The initial cap of the ENA lock was set at $200 million and will be adjusted to increase over time.
Last week, Ethena introduced a strategy that involves purchasing bitcoin (BTC) and simultaneously shorting the asset to generate an annual yield in a cash and carry trade. The platform has employed a similar strategy on ether (ETH) since January.
5 Essential Steps For Successful Immigration In Europe
Moving abroad can be very stressful, especially for those migrating to Europe. There are many rules and regulations to research, so having a comprehensive plan is essential to ensuring things go well. So here are five crucial keys to a thriving European immigration experience.
Migrating to Europe for business, education, or just a change of scenery requires careful planning and preparation. Everything has been explained to you, from obtaining the required permits to finding convenience and settling into your new residence. So make your trip to Europe efficient and peaceful by reading along.
1. Research Immigration Options
When making the big move to Europe, the first step is doing homework. Think of it like planning a trip to a place you’ve never been before, except this time; you’re not just packing your bags for a vacation–you’re preparing for a whole new chapter in your life!
So get your favorite tea or coffee mug, sit somewhere comfortably, and get to work researching. In Europe, different countries have different immigration laws and processes. So, you must understand your chosen location’s specific requirements and procedures. Your interest could be in the ancient beauty of Rome or Portugal’s fascinating tradition of fado music, and you may also wonder how to get portuguese passport or any other country.
Spend some time learning about your options that are related to your circumstances. What are your plans? Are you going to work, study, see your family again, or start a new business? Whatever it is, acquaint yourself with the many categories of visas, residency permits, and other paperwork you must complete.
2. Get the Required Immigration Documentation
Gathering the required documentation takes time and attention to detail, but once everything falls into place, you’ll be ready to embark on your exciting journey. Start by dusting off your passport and ensuring it’s valid for your stay abroad.
Next, delve into the world of visas and permits. Depending on your purpose for moving–whether for work, study, or family–you’ll need to navigate the specific requirements set by your destination country’s immigration authorities. This might include filling out application forms, getting letters of support or sponsorship, and gathering proof of financial stability and accommodation.
Don’t forget about health-related documents, either. A few nations might require proof of health care coverage inclusion or vaccination records. It’s a paperwork race, yet with cautious meticulousness, you’ll be completely ready to move toward your European experience.
3. Language Proficiency For Immigration
Among the steps for successful immigration in Europe is language proficiency; you must master the local language. Let’s assume you’re strolling through the streets of Paris, enjoying the aroma of freshly baked croissants and the sight of historic landmarks. Suddenly, you need directions or want to talk with a local.
Knowing French not only opens doors but also hearts. Similarly, speaking the local tongue is like having a magic key to unlock opportunities and connections, whether heading to bustling Berlin or charming Barcelona.
Some claim that learning a new language can be stressful, but fear not! Learning a new language doesn’t have to be daunting. Start by immersing yourself in the language through online courses, language exchange programs, or local classes.
Embrace the beauty of making mistakes and celebrate minor victories along the way. Practice speaking with native speakers, watch movies, or listen to music in the target language, and ask for help when needed. Remember, it’s not just about mastering grammar rules; it’s about embracing the rhythm and nuances of every European immigration financial Planning
4. Cost of living For Immigration
Moving to Europe may be exciting, but don’t get carried away. You need to have your monetary ducks in a row before you embark on this adventure. First, consider the cost of living in your chosen European destination. Costs can vary significantly from country to country or even within different areas of the same country.
Do some studies to determine how much you’ll need to shell out for necessities like groceries, housing, utilities, and transportation.
Next up, accommodation. Renting or shopping for an area to stay in is likely one of your most significant expenses. Be prepared to fork out a hefty rent or mortgage deposit charge. Remember that a few cities, especially capitals or significant metropolitan regions, command higher housing prices than others.
Healthcare is another economic factor. While many European countries have public healthcare structures, you may still need to budget for medical insurance premiums or out-of-pocket expenses for hospital treatment.
It all depends on your immigration status and the specific healthcare provisions of your host country.
5. Cultural Adaptation and Integration
Getting acquainted with individuals from diverse backgrounds, accepting new customs, and fully integrating into the local way of life are all aspects of cultural adaptation. Take some time to explore your community, eat new foods, and engage in cultural activities. Take chances to grow and learn and step outside your comfort zone. Making friends with residents and other foreigners can help you get through the highs and lows of life in your new place and enhance your enjoyment.
To sum up
You must conduct extensive research, prepare the paperwork, understand the language, organize your money, and learn how to adjust to the new culture to relocate to Europe successfully. The journey will go successfully if you work hard and enthusiastically follow these procedures. This prepares you for a joyful and fulfilling stay in your new European residence.
Trong bối cảnh thị trường bảo hiểm đối mặt nhiều yếu tố không thuận lợi, Báo cáo Tài chính của Prudential cho thấy những kết quả tích cực, thể hiện hoạt động vận hành và đầu tư hiệu quả, đảm bảo vai trò đối với nền kinh tế và thực thi trách nhiệm đã cam kết với khách hàng.
Tính đến cuối năm 2023, mặc dù doanh thu thuần từ hoạt động kinh doanh bảo hiểm giảm 12,9% đạt 26.594 tỷ đồng, tổng doanh thu của Prudential đạt 37.250 tỷ đồng, tăng 7,6%. Kết quả này có sự đóng góp của doanh thu từ hoạt động đầu tư. Năm 2023, Prudential ghi nhận lợi nhuận sau thuế là 3.114 tỷ đồng.
Tổng giá trị tài sản của Prudential đạt 176.673 tỷ đồng, tăng 9,2%. Tổng tài sản đầu tư trái phiếu Chính phủ đạt 72.116 tỷ đồng, tăng 14,1%.
Prudential cũng duy trì được biên thanh khoản luôn ở mức cao hơn yêu cầu, đảm bảo khả năng chi trả cho khách hàng với 144,5%. Tổng bồi thường bảo hiểm đạt 1.900 tỷ đồng, tăng 16%. Tổng số ca chi trả bồi thường bảo hiểm trong năm 2023 là 179.000 trường hợp. Tính đến cuối năm, có hơn 82% yêu cầu giải quyết quyền lợi từ khách hàng được nộp trực tuyến, trong đó gần 20% yêu cầu được xử lý trong vòng 30 phút (tăng 5% so với năm 2022).
Tổng Giám Đốc Prudential Việt Nam – ông Phương Tiến Minh cho biết: “Những thách thức tạm thời của năm 2023 mở ra cơ hội để chúng tôi tập trung nâng cao chất lượng dịch vụ khách hàng và cải thiện chất lượng của các kênh phân phối. Sự ra đời đúng thời điểm của Luật Kinh doanh bảo hiểm mới giúp toàn ngành bảo hiểm đánh giá lại và cải tiến để trở nên tốt hơn, hướng tới quyền lợi của người tham gia bảo hiểm. Chúng tôi sẽ tiếp tục đầu tư vào các hoạt động cần thiết để đảm bảo sự tuân thủ, tăng cường chất lượng bán hàng, cũng như nâng cao trải nghiệm cho khách hàng của mình”.
Cùng với cam kết tuân thủ Luật Kinh doanh bảo hiểm và luôn “Lấy khách hàng làm Kim chỉ nam”, năm qua, Prudential đã thực hiện và điều chỉnh Bộ tài liệu hợp đồng bảo hiểm nhân thọ, mang đến sự yên tâm và hài lòng cho khách hàng. Năm 2023, Prudential nằm trong nhóm công ty Bảo hiểm nhân thọ dẫn đầu về Chỉ số hài lòng và Sẵn lòng giới thiệu của khách hàng (rNPS).
Với định hướng đầu tư lâu dài và bền vững tại Việt Nam, từ nửa cuối năm 2023, Prudential lần lượt khai trương chuỗi ba (03) trung tâm chăm sóc khách hàng với mô hình mới tại TP. Đà Nẵng và TP. Hồ Chí Minh.
Năm 2023, Prudential cũng tiếp tục đầu tư vào các hoạt động cộng đồng trong 3 lĩnh vực Giáo dục, An toàn, và Sống khỏe với tổng ngân sách gần 17 tỷ đồng.
“Năm 2024 là một cột mốc đặc biệt với Prudential khi chúng tôi kỷ niệm 25 năm hoạt động tại Việt Nam. Chúng tôi khẳng định sẽ luôn tiên phong trong việc tuân thủ quy định pháp luật, tiếp tục đóng góp tích cực vào sự phát triển bền vững thông qua các dự án hỗ trợ cộng đồng và luôn đồng hành cùng Chính phủ Việt Nam thực hiện mục tiêu xây dựng nền kinh tế xanh.”, ông Phương Tiến Minh chia sẻ thêm.
Prudential hiện là một trong những tổ chức tài chính đang hành động theo thỏa thuận chuyển dịch năng lượng công bằng (JETP) với quy mô cam kết 15,5 tỷ đô, nhằm thúc đẩy nhanh kênh dẫn vốn này vào Việt Nam. Năm 2023, Prudential tổ chức hội thảo “Trái phiếu xanh & Đầu tư chuyển đổi tại Việt Nam” để thu thập ý kiến phản hồi về cách thức hỗ trợ sự tăng trưởng và phát triển của thị trường trái phiếu xanh tại Việt Nam. Gần đây nhất, Prudential đã cho ra đời quỹ liên kết đơn vị “PRUlink Tương Lai Xanh”. Đây là quỹ liên kết đơn vị đầu tiên trên thị trường bảo hiểm nhân thọ, mang đến cho khách hàng sở hữu sản phẩm bảo hiểm liên kết đơn vị quyền lựa chọn đầu tư theo định hướng phát triển bền vững, phù hợp với xu thế toàn cầu.
Những nỗ lực của Prudential trong năm qua được ghi nhận bởi các tổ chức trong nước và quốc tế với các hạng mục giải thưởng như:
“Công ty Bảo hiểm nhân thọ Quốc tế của năm” (International Life Insurer of the Year) từ Insurance Asia Awards
“Sáng kiến ESG của năm” (ESG Initiative of the Year) – dành cho những dự án thiết thực đóng góp trực tiếp vào việc giải quyết các vấn đề xã hội và phát triển bền vững từ Insurance Asia Awards
Top 100 doanh nghiệp bền vững (Chương trình CSI 2023 do Liên đoàn Thương mại và Công nghiệp Việt Nam VCCI tổ chức)
“Doanh nghiệp Xuất sắc và Bền vững tại Châu Á” (The Asia Corporate Excellence & Sustainability Awards (ACES), ghi nhận các công ty tiên phong ở châu Á, có ảnh hưởng mạnh mẽ đến nhân lực, nguồn lực và tác động toàn cầu.
“Doanh nghiệp có Văn hóa xuất sắc” (hạng Vàng) trong lễ trao giải HR Excellence tại Singapore nhờ chú trọng xây dựng văn hóa doanh nghiệp, đề cao sự phát triển và phúc lợi nhân viên.
Giải thưởng “Nơi làm việc xuất sắc 2024” (Great Place to Work), ghi nhận cam kết hoạt động bền vững tại Việt Nam, chú trọng tối ưu nguồn lực, đảm bảo kinh doanh hiệu quả.
Vietnam Airlines is set to inaugurate a new air route directly connecting Vietnam’s two major cities, Hanoi and Ho Chi Minh City, to the bustling metropolis of Manila, the capital of the Philippines. This strategic move is accompanied by a range of enticing incentives tailored for passengers.
Commencing operations on June 17, 2024, Vietnam Airlines will initiate direct flights from Hanoi and Ho Chi Minh City to Manila, enhancing connectivity between these key Southeast Asian hubs.
The airline’s schedule entails three weekly flights from Hanoi to Manila on Tuesdays, Thursdays, and Saturdays, while the Ho Chi Minh City to Manila route will operate four times a week on Mondays, Wednesdays, Fridays, and Sundays. In total, Vietnam Airlines will offer seven flights per week departing from Hanoi and Ho Chi Minh City to Manila.
This expansion marks a significant milestone as Vietnam Airlines becomes the first carrier in Vietnam to provide direct flights to the Philippine capital. The introduction of this new route aligns with Vietnam National Airlines’ strategic vision to bolster international flight networks, fostering stronger links between Manila, Hanoi, and Ho Chi Minh City, the region’s premier economic centers.
Furthermore, the direct flight to Manila is poised to stimulate economic, cultural, and tourism exchanges not only between Vietnam and the Philippines but also across Southeast Asia.
In celebration of the inaugural flight from Vietnam to Manila, Vietnam Airlines is unveiling special round-trip fares starting from just $141 USD (equivalent to 3,549,000 VND), inclusive of taxes and fees. This promotional offer is valid for tickets purchased between April 8, 2024, and June 23, 2024, for flights departing from June 17, 2024, to June 23, 2024.
Passengers availing of Economy Flex, Economy Standard, Economy Economy, and Economy Super Economy tickets will enjoy an additional complimentary piece of luggage, while Business class travelers will receive double bonus miles. These privileges apply to flights originating from Hanoi or Ho Chi Minh City bound for Manila, Philippines, in the Flexible Economy and Standard Economy classes.
Vietnam plans to attract 28 million affluent Chinese tourists annually through an expansion of shopping opportunities, according to strategic projections in the business sector.
On March 15, 2023, the Chinese government included Vietnam in its list of destinations for group tourism, marking the beginning of the second phase. Over the subsequent year, Vietnam hosted nearly 1.8 million Chinese tourists, placing second in terms of inbound tourism. However, this figure only represented 31% of the 2019 levels.
Mr. Nguyen Trung Khanh, Director of the Vietnam Tourism Administration told reporter that, the enduring importance of China as a primary market source. In 2019, Chinese visitors led the influx to Vietnam, comprising 5.8 million out of a total 18 million international arrivals.
The Vietnam Tourism Administration has observed a significant surge in Chinese visitor numbers in the first quarter of this year, with arrivals totaling 890,000, marking a remarkable 635% increase compared to the same period last year.
Chinese tourists typically spend an average of $1,022 per trip in Vietnam, surpassing expenditure from other markets such as Japan, Korea, and Southeast Asia. In 2019, revenue from Chinese visitors amounted to $5.9 billion, constituting 32% of the total revenue from international visitors.
Ben Thanh Market is a large marketplace in central Ho Chi Minh City, Vietnam in District 1. The market is one of the earliest surviving structures in Saigon and an important symbol of Ho Chi Minh City, popular with tourists seeking local handicrafts, textiles, ao dai and souvenirs, as well as local cuisine.
Mr. Johnathan Hanh Nguyen, Chairman of the Inter Pacific Group (IPPG), highlighted the vast untapped potential of the Chinese tourism market. Presently, Vietnam’s tourism offerings fail to cater adequately to the shopping preferences of high-spending Chinese tourists.
According to Mr. Hanh, approximately 80% of middle and high-end Chinese tourists allocate significant funds to shopping activities. However, popular destinations for Chinese tourists, such as Mong Cai, Nha Trang, or Ho Chi Minh City, lack sufficient infrastructure to accommodate this demographic and cater to their shopping requirements.
CEO of Fantasea International Travel Company, Dao Viet Long, noted that prior to the pandemic, Vietnam was a favored destination for Chinese tourists. However, despite attracting considerable numbers, especially in hotspots like Da Nang, Nha Trang, and Phu Quoc, Vietnam struggled to entice middle and high-end Chinese clientele.
Mr. Long pointed out that Chinese tourists typically prioritize luxury destinations, cultural experiences, entertainment, and shopping. Vietnam’s tourism offerings have primarily focused on fulfilling basic needs, lacking diversity in services, and failing to stimulate the shopping desires of Chinese tourists.
Vietnam has historically been perceived as a budget-friendly destination for Chinese tourists due to the prevalence of zero Vietnamese Dong tours and low-cost package tours. Additionally, the brief duration of most travel programs (typically 4-5 days), group-based itineraries, and limited discretionary spending contribute to lower expenditure levels.
Dubbed the “King of branded goods,” Johnathan Hanh Nguyen announced plans to collaborate with two Chinese partners to establish duty-free stores and develop shopping-centric tourism products in key tourist hubs.
Duty-free shops at the Bac Luan border gate in Mong Cai, Quang Ninh, are slated to commence operations by the end of 2024, with expectations of attracting an additional 10 million Chinese visitors to the region. In Nha Trang, an inner-city duty-free store in the central business district is scheduled for investment in 2024, with an anticipated opening in early 2025, poised to accommodate 12 million international visitors, half of whom are projected to be Chinese.
Mr. Hanh underscored that the activation of duty-free shops presents an opportunity to capture foreign currency expenditure from affluent Chinese tourists. IPPG estimates suggest that the partnership will draw approximately 28 million Chinese visitors annually to Vietnam, equivalent to 2% of the country’s population.
Mr. Le Huu Hoang, Standing Vice Chairman of the Khanh Hoa Provincial People’s Committee, expressed support for the development of the duty-free store model in Cam Ranh, anticipating an increase in international flights from Chinese cities to Cam Ranh, Khanh Hoa.
Mr. Nguyen Trung Khanh emphasized that collaboration with Chinese businesses offers a chance to enhance tourism trade, diversify Vietnamese tourism products, and cater to international visitors. The second half of 2023 is expected to witness monthly international visitor arrivals exceeding 1 million, while the first quarter of this year recorded 4.6 million visitors, marking a 72% increase compared to 2023.
To achieve the annual target of welcoming 17-18 million visitors, the tourism sector prioritizes collaboration with domestic and international partners, focusing on developing highly competitive tourism products, including shopping tourism.
Mr. Khanh highlighted successful duty-free store models in countries like Singapore and South Korea, emphasizing their role in stimulating tourist spending and building the shopping brand of a destination.
“If effectively invested and implemented, duty-free shopping facilities in Vietnam will contribute to boosting the tourism economy, fostering investment growth, attracting labor, and generating positive impacts across industries,” remarked Mr. Khanh.
Vietnam sets sights on achieving carbon neutrality by 2050, with a key focus on transitioning all transportation modes to green energy sources. Experts emphasize that embracing eco-friendly transportation is not only pivotal for environmental sustainability but also imperative for constructing green and intelligent urban centers.
The transportation sector aims to gradually phase out the production, assembly, and importation of vehicles running on fossil fuels by 2040. By 2050, the objective is for all vehicles to operate on electricity and other sustainable energy alternatives. Consequently, the development of charging infrastructure becomes paramount.
Electric vehicles (EVs) are increasingly favored in major cities, reflecting a growing trend towards sustainable transportation. Ministry of Transport data reveals that over 20,000 electric cars were in use nationwide last year.
Despite this momentum, the existing network of charging stations falls short of meeting the demand for EVs. Currently, VinFast boasts the largest charging station system, offering over 150,000 ports across various locations. However, the majority of EV owners rely on home charging, underscoring the need for expanded infrastructure.
During a workshop convened by the United Nations Development Programme (UNDP) on energy transition and charging station investment policies in Vietnam, Professor Dr. Wilmar Matinez, an expert in electric energy research, highlighted the novelty of electric vehicles in the country. He noted that the scarcity of charging stations, particularly along highways, poses a significant barrier to widespread EV adoption.
See the best of Vietnam from the seat of a bike
Matinez emphasized that the scarcity of charging stations is a primary deterrent for consumers considering EVs. As part of a comprehensive road infrastructure development plan, Vietnam aims to expand its highway network to over 9,000 kilometers by 2050, facilitating the integration of charging stations at rest stops.
To Nam Toan, head of the Department of Environmental Science, Technology, and International Cooperation at the Department for Roads of Vietnam, affirmed that the Ministry of Transport is revising highway network plans to accommodate the increased demand for charging stations.
Matinez suggested that establishing a robust network of charging stations requires collaboration between the government and private sector, drawing insights from successful models in countries like Germany, Norway, and South Korea.
Incentivizing private investment through tax exemptions and reductions, along with allowing charging service fees, could stimulate the expansion of charging infrastructure. Additionally, adopting smart charging systems can optimize energy usage and prevent system overload.
Addressing concerns about potential strain on the national power grid, Nguyen Bao Huy from Hanoi University of Science and Technology proposed implementing smart charging systems to regulate charging times and manage vehicle distribution at stations, ensuring efficient power allocation and preventing disruptions.
“HashKey Group aims to establish one of the world’s largest cluster of licensed exchanges within the next 5 years, surpassing all current regulated exchanges,” said Livio Weng, COO of HashKey Group.
The HashKey Group, an Asian firm offering digital asset services, has launched the HashKey Global exchange after being granted a license in Bermuda to offer licensed digital asset trading services, it announced on Monday.
“HashKey Group aims to establish one of the world’s largest clusters of licensed exchanges within the next 5 years, surpassing all current regulated exchanges,” said Livio Weng, COO of HashKey Group.
The firm, which is headquartered in Hong Kong and has operations in Singapore and Tokyo, achieved unicorn status earlier this year after a fundraising round that helped it “nearly” meet its $100 million fundraising target.
For now, HashKey Global will offer spot trading services for 21 digital assets, including bitcoin (BTC), ether (ETH), Tether’s USDT, and Circle’s USDC, with futures trading product services set to be launched within weeks.
Millions across North America are poised to witness an extraordinary celestial event as the moon casts its shadow over the sun, plunging parts of the continent into darkness.
Scheduled for Monday, April 8, this total solar eclipse promises a remarkable spectacle for those fortunate enough to be in its path.
What exactly is a total solar eclipse?
It’s a phenomenon where the moon moves between the sun and Earth, completely obscuring the sun’s face along a narrow corridor on our planet’s surface known as the “path of totality.” As the moon’s shadow sweeps across the landscape, daytime turns to an eerie twilight, prompting nocturnal creatures to stir, momentarily confused by the premature arrival of night.
For those within the path of totality, a rare opportunity arises to witness the sun’s corona – its ethereal outer atmosphere – usually invisible due to the sun’s overwhelming brilliance. Outside this path, observers will witness a partial eclipse, where the moon covers a portion of the sun’s disk, but not its entirety.
However, the spectacle is at the mercy of weather conditions; a cloudy sky could thwart the view. Following this event, the next total solar eclipse visible from the contiguous United States won’t occur until 2044.
So, where will this phenomenon be visible?
The eclipse’s journey begins over the South Pacific, touching down on Mexico’s Pacific coast before making its way across the United States, traversing states such as Texas, Oklahoma, Arkansas, Missouri, and more. It continues its trajectory through Canada, passing through Ontario, Quebec, New Brunswick, and other provinces, before exiting continental North America on the Atlantic coast of Newfoundland.
Numerous cities and metropolitan areas lie within or near the path of totality, offering prime viewing spots for eager spectators. Among these are Mazatlan, San Antonio, St. Louis, Indianapolis, Buffalo, and Toronto, among others.
But just how wide is this path of totality?
Compared to the 2017 eclipse, which spanned approximately 62-71 miles (100-114 km), this one boasts a wider path, ranging from about 108-122 miles (174-196 km). Consequently, it covers more ground and passes over more densely populated areas.
What can viewers expect to witness during the eclipse?
The event unfolds in distinct stages, beginning with a partial eclipse where the sun appears crescent-shaped as the moon begins its journey across its face. This is followed by Baily’s Beads, where points of light from the sun shimmer around the moon’s edges, and the diamond ring phase, characterized by a single bright spot resembling a diamond ring.
As totality sets in, the landscape is bathed in an ethereal darkness, offering a rare glimpse of the sun’s corona. Afterward, the moon continues its journey, and the other phases repeat until the eclipse concludes.
How does a total solar eclipse differ from an annular one?
An annular eclipse occurs when the moon passes in front of the sun but doesn’t completely cover it, resulting in a “ring of fire” effect. This contrasts with the total eclipse, where the moon fully obscures the sun’s face.
Safety is paramount when viewing an eclipse; experts caution against looking directly at the sun without proper eye protection. Safe solar viewing glasses or handheld solar viewers are recommended, as regular sunglasses do not offer sufficient protection. The only time it’s safe to view the eclipse without protection is during totality.
As for future celestial events, there’s much to anticipate. An annular solar eclipse is scheduled for October 2 of this year, visible in South America, followed by partial eclipses in 2025 and another annular eclipse in 2026, among others.
In essence, the total solar eclipse presents a captivating opportunity for sky gazers to witness a rare and awe-inspiring celestial spectacle, a reminder of the wonders of the universe and our place within it.
According to Kaspersky, Vietnam tops the list of Southeast Asian countries facing the highest number of local cyberthreats, followed by Indonesia with 14.6 million incidents and Thailand with 4.7 million.
In 2023, Southeast Asia experienced nearly 43 million local cyber threats targeting businesses. Singapore, on the other hand, reported a 67% surge in local incidents, rising from 300,000 in 2022 to 500,000, though still the lowest in the region.
The tally of local infections on user computers serves as a crucial gauge of the overall cyber threat landscape. It encompasses infiltrations into target computers through infected files or removable media, or via initial access in non-open formats such as complex installers or encrypted files.
These figures stem from Kaspersky’s scans of files on hard drives at the moment of creation or access, as well as scans of removable storage media.
Adrian Hia, Kaspersky’s Managing Director for Asia Pacific, emphasized Southeast Asia’s promising potential to emerge as a key global manufacturing hub. He also noted the region’s consistent digital economic growth over the years.
Hia highlighted the necessity for organizations, whether operating in IT or operational technology (OT) systems, to fortify their cyber defenses against sophisticated attacks employing traditional techniques and tactics to ensure continued progress.
Effective protection against local cyber attacks demands not only a security solution capable of addressing infected objects but also a robust firewall, anti-rootkit functionality, and control over removable devices. Kaspersky advised organizations to scan systems with such comprehensive security solutions to prevent malware spread through files or removable media.
Vietnam has attracted nearly $500 billion in registered Foreign Direct Investment (FDI) over the span of nearly four decades since initiating economic liberalization. The Ha Noi Moi newspaper recently analyzed that enhancing the quality of investments stands out as a crucial objective for propelling into a new phase of growth.
As per the General Statistics Office, the first quarter of 2024 witnessed a significant surge in FDI, reaching close to $6.17 billion, marking a 13.4% increase compared to the previous year. Moreover, FDI disbursements during this period amounted to $4.63 billion, indicating a 7.1% annual rise, marking the highest quarterly disbursement in the past five years.
Presently, the FDI sector plays a pivotal role in Vietnam’s economy, generating over 2 million employment opportunities. Additionally, it contributes to more than 70% of the nation’s total export turnover, approximately 50% of industrial output, and over 20% of GDP. Notably, around 80% of foreign enterprises operating in the country have adopted ESG (Environmental, Social, and Governance) strategies.
The article highlights a shift in focus among international investors towards high-tech and eco-friendly sectors, aligning with Vietnam’s sustainable development objectives. Noteworthy is the surge in visits by business delegations exploring opportunities in high-tech, clean energy, and circular economy initiatives, with a notable interest in semiconductor production. The government’s commitment to training 50,000 high-quality engineers by 2030 further underscores this strategic shift.
Photo: Olivier Ochanine
Recognizing the pivotal role of FDI in economic growth, the Prime Minister issued Decision No. 667/QD-TTg on June 2, 2022, endorsing a foreign investment cooperation strategy for the period 2021-2030. Emphasis is laid on attracting high value-added foreign-funded projects integrating advanced technology, modern management practices, and fostering positive spillover effects in the global production and supply chain.
Minister of Information and Communications, Nguyen Manh Hung, emphasizes Vietnam’s proactive efforts in cultivating an ecosystem conducive to semiconductor industry development, welcoming foreign investor participation. Simultaneously, endeavors are underway to ensure a skilled workforce to meet the requirements of associated projects.
The National Innovation Center (NIC) is actively collaborating with domestic and international technology enterprises such as Viettel, FPT, Intel, and Qualcomm to foster research cooperation, talent development, and ecosystem nurturing for semiconductor manufacturing.
In a recent development, a delegation comprising 50 leading US companies across pivotal sectors like energy, aviation, technology, banking, and food, visited Vietnam to explore partnership and investment prospects. Subsequently, significant discussions took place, culminating in the signing of memoranda of understanding worth hundreds of millions of dollars.
The Ministry of Planning and Investment emphasizes Vietnam’s potential and strategic geographical position within the global supply chain, positioning it favorably to attract and leverage foreign capital inflows for rapid and sustainable development.
