Vietnam Insider - Page 211 of 1523

Vietnamese people spend over 40,000 billion VND shopping online for Tet

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The estimated sales revenue on the five largest e-commerce platforms in Vietnam reached 40,000 trillion Vietnamese dong, increasing by 1.5 times compared to the same period in 2023. In total, over 437 million products were sold.

Revenue on e-commerce platforms in the first 2 months of the year increased sharply compared to 2022-2023. Photo: Phuong Lam.

According to a recent report from the e-commerce data analytics platform Metric, despite forecasts of a sluggish economic year, sales revenue on the five largest e-commerce platforms in Vietnam, including Shopee, TikTok Shop, Lazada, Tiki, and Sendo, exceeded 40,000 trillion Vietnamese dong in the first two months of the year.

This figure increased by 51% compared to the same period last year and by 110% compared to the same period in 2022.

Consumers tended to increase shopping activity in the early and late stages of January. Moving into February, closer to the Tet holiday, sales revenue on e-commerce platforms gradually decreased, reaching a low of 2,000 trillion dong during the Tet holiday week (February 8-14). However, just two weeks after returning to work after Tet, this figure tripled.

In total, in the first two months of the year, over 437 million products were sold from 441,000 different stores.

In the upcoming second quarter, Metric forecasts that sales revenue on the five e-commerce platforms could reach 65,000 trillion dong, a 25% increase compared to the same period in 2023. Sales volume during this year’s summer shopping season could also increase by 28% to 650 million products.

“The economic situation in 2024 is still expected to be sluggish, and consumers are becoming more sensitive to prices. Overall, revenue growth is expected to be lower than the growth in sales volume,” a representative from Metric shared.

Looking back at 2023, most sectors witnessed revenue growth. Some sectors such as beauty, fashion, electronics, and mother and baby products even saw revenue growth rates of 50-60% compared to 2022.

However, paradoxically, the number of stores generating sales is gradually decreasing. Only a few sectors such as home-living, phones and tablets, computers/laptops and office equipment, automobiles and motorcycles, and women’s footwear continue to increase the number of stores, but not significantly.

Last year, the price segments of 100,000-200,000 dong and 200,000-500,000 dong continued to generate the most revenue for stores. Among them, the 100,000-200,000 dong segment saw a 40% revenue growth compared to the previous year, while the 200,000-500,000 dong segment saw a 37% growth.

However, the revenue growth of the 100,000-200,000 dong segment somewhat reflects that consumers are becoming more price-sensitive and paying more attention to promotional programs.

In fact, on the four platforms Shopee, Lazada, Tiki, and Sendo, the average price paid by buyers decreased from 100,344 dong in 2022 to 98,781 dong last year.

@Znews

Surpassing Phuket, Hoi An emerges as the best business destination

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In the framework of the World MICE Awards recently held in Germany, Hoi An was honored as the “Best Asian Business Destination 2023”.

Hoi An was honored as the best corporate resort in Asia. Photo: Huy Le.

Hoi An surpassed competitors including Bali (Indonesia), Jaipur (India), Kyoto (Japan), Langkawi (Malaysia), Phuket (Thailand), and Siem Riep (Cambodia) to clinch this prestigious title.

Located on the northern bank of the Thu Bon River, Hoi An is an ancient town in Quang Nam province, covering an area of less than 100 km2. It stands out with its unique architecture of yellow-painted ancient houses and colorful lanterns adorning the streets.

In 1999, UNESCO recognized Hoi An Ancient Town as a World Cultural Heritage site. It is beloved by tourists for its tranquil atmosphere, detached from the hustle and bustle of urban life. Walking through the ancient streets, visitors can encounter multicultural influences from the past in French-style buildings, Chinese neighborhoods, Japanese-style roofed bridges, or Chinese assembly halls.

Hoi An is a place that attracts many famous people to relax. Photo: Danielle, Jung Chae-yeon.

Visitors to this heritage land can also explore the peaceful and lively spring scenery of the Seven Beauties Coconut Forest and the serene, pristine beauty of An Bang Beach – one of the most beautiful beaches in Asia.

Moreover, Hoi An also attracts tourists with its distinctive local cuisine at affordable prices such as chicken rice, fermented fish noodle soup, mót water, grilled nem, sizzling pancakes, Quang-style noodles, and Cao Lau noodles.

Within just the first three months of the year, Hoi An has continuously received prestigious awards from reputable and renowned travel magazines and websites worldwide. In February, Hoi An ranked 2nd on Tripadvisor’s list of 25 dream honeymoon destinations, surpassing even the Maldives. The famous travel website Travel Off Path ranked Vietnam among the top 7 trendiest destinations in the world back in January.

@Znews

Phu Quoc among the most beautiful beaches in Asia

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DestinAsian magazine has voted Phu Quoc as one of the most beautiful beaches in Asia. Meanwhile, Tatler (UK) suggests the pearl island and Ke Ga cape as beautiful weekend getaways in Southeast Asia.

Phu Quoc has been honored many times as a beautiful beach in the region and the world. Photo: @luxpuer_.

Recently, DestinAsian Travel Magazine (part of the DestinAsian Media Group, headquartered in Jakarta, Indonesia) announced the list of the 10 most beautiful islands in the Asia-Pacific region (APAC).

Representing Phu Quoc, Vietnam ranks 6th, ahead of Malaysia’s Langkawi and behind the small island of Boracay, Philippines.

Leading the list are Bali Beach (Indonesia) and Maldives. The Readers’ Choice Awards are voted by DestinAsian readers worldwide. Currently, the magazine attracts about 75,000 readers per issue, according to the official website of DestinAsian.

2024 marks the 17th year of this annual award’s long-term and reliable recognition in the Asia-Pacific tourism industry.

Phu Quoc, Vietnam has been honored many times as an impressive destination in the world. Photo: @vietnamtravelaway, @melnik.world.

In addition to DestinAsian, UK’s Tatler magazine also includes Phu Quoc in the list of 8 most beautiful beaches in the APAC region, alongside Bali (Indonesia) and Krabi (Thailand). The pearl island ranks 6th.

This lifestyle publication by Condé Nast publicizes Phu Quoc as one of the accessible destinations with plenty of beach activities. Moreover, the pearl island offers a range of luxurious hotels, sea views, and diverse local cuisine restaurants.

Mui Ke Ga, Binh Thuan is on Tatler’s list of 8 beautiful beaches in the APAC region. Photo: Tonkin.

One of the 8 suggested destinations by Tatler is Ke Ga cape (Binh Thuan). The magazine introduces this place as a “hidden gem” with stunning beaches just about 4 hours’ drive from Ho Chi Minh City.

“Although it requires quite a long journey, travelers will be rewarded with luxury and privacy on the island,” Tatler said.

@Znews

Denied Entry to Vietnam at the Airport on the rise. Here’s Why

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The surge in denials of entry to Vietnam for international visitors has been notable, with 217 individuals being turned away in the initial two months of this year, amounting to a quarter of the total for 2023. This increase places significant strain on both airports and airlines.

Figures from the Vietnam Aviation Administration reveal a steady rise in denied entries: 506 cases in 2020, 404 in 2022, 886 in 2023, and 217 in just the first two months of 2024. The primary cause remains inadequate documentation, including visa deficiencies or counterfeit passports.

This uptick in denied entries poses financial and logistical challenges for airlines, necessitating the return of passengers to their points of departure and intensifying the burden on airport facilities, potentially compromising security protocols.

To mitigate such occurrences, the Vietnam Aviation Administration mandates stringent scrutiny of passenger documentation by airlines operating international routes to Vietnam. Airlines must stay abreast of both domestic and international regulations governing entry, exit, and transit, while also disseminating pertinent information to passengers.

Furthermore, the Civil Aviation Authority of Vietnam calls upon authorities and document control agencies in departure countries to enhance oversight of passenger documentation, thus minimizing instances of ineligibility based on entry and transit requirements in Vietnam.

According to the Standing Team of the National Aviation Security Risk Assessment Council, the global trend indicates a rise in fraudulent passport usage and related document issues since 2022, posing ongoing challenges for international air travel.

Railways opens sale of train tickets during the holiday April 30 – May 1

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Saigon Railway Transport Joint Stock Company is now selling tickets for the trains that will run daily during the holiday period of April 30th to May 1st. Ticket sales will continue until May 14th. Passengers can purchase tickets for train routes from Ho Chi Minh City to Hanoi, Da Nang, Nha Trang, and Phan Thiet. The company will also organize additional trains from Ho Chi Minh City to destinations such as Phan Thiet, Nha Trang, Quy Nhon, Quang Ngai, Hanoi, and vice versa.

The company is providing regular discount policies for social policy beneficiaries. Additionally, customers who buy round-trip tickets or group tickets will receive a discount of 5% to 7% on the ticket price.

The sale of train tickets during the holiday period aims to make travel and tourism easier while promoting business activities in the rail transport sector.

Vietnamese tourism industry is striving for sustainable development.

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Vietnam’s tourism industry has made significant progress in the two years since the country reopened to international tourism on March 15, following a three-year closure due to COVID-19. Despite global tourism challenges, Vietnam’s innovative policies and institutions have helped to drive the industry’s recovery and position it as a key economic sector.

In 2023, international tourist arrivals had increased by 70% compared to 2019. In the first two months of 2021, Vietnam had already welcomed three million visitors, a figure equivalent to pre-pandemic levels. The Prime Minister has chaired three national tourism conferences and issued several resolutions and directives aimed at accelerating tourism recovery. A significant policy change has been the relaxation of visa policies, which now enable international visitors to stay for up to 45 days. This policy is currently being considered for further expansion.

Mr. Mario Mendis, Chairman of the Tourism, Restaurant, and Hotel Subcommittee of the European Business Association, commended Vietnam’s visa policy advancements, noting that it could make the country a more appealing destination for European tourists and contribute to the economy.

Industry experts recommend promoting policies to support businesses in tourism service supply chains. Dr. Vo Tri Thanh, Director of the Institute for Brand Strategy and Competitiveness Research, suggests policies that encourage small and medium-sized businesses to develop and promote innovation. Strengthening connectivity in tourism can also help to avoid pricing pressures, particularly during peak season.

The Prime Minister’s Directive 08 underscores the need to restart the National Steering Committee for Tourism to develop a unified industry development strategy in the short and long term.

Mr. Nguyen Trung Khanh, Director of the Vietnam National Tourism Administration, emphasizes the importance of the State Steering Committee on Tourism in coordinating activities and resolving interdisciplinary issues.

According to the World Tourism Organization, Vietnam is one of the 20 countries with the greatest tourism potential. By 2024, Vietnam aims to attract 17-18 million visitors, equivalent to 2019 figures.

@vtv.vn

The French Parliament passes a bill restricting fast fashion

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France has passed a bill to limit fast fashion. The bill aims to gradually increase penalties to 10 euros ($11) per clothing item by 2030 and ban advertising for fast fashion products. The bill will need to be presented to the French Senate before it can become law.

Fast fashion retailers like Shein and Temu have disrupted the retail sector due to their flexible supply chains that allow them to scale orders based on demand, while established companies like Zara and H&M rely heavily on predicting shopper preferences. However, the growing popularity of unsustainable fashion with rising volumes and low prices is creating environmental, social, and economic consequences.

Shein, a Chinese fast fashion company, has argued that the clothes it produces meet existing demand, which has allowed the percentage of unsold garments to stay in the low single digits, while traditional garment manufacturers can contribute up to 40% of waste.

Secondhand clothes are left to rot in a dumpsite in Ghana. (Photo: Muntaka Chasant/REX/Shutterstock)

Although some people believe that the bill will weaken the purchasing power of French consumers, French Environment Minister Christophe Béchu sees the bill as a “big step forward” in reducing the environmental impact of the textile industry.

France has already launched a program in 2023 to encourage people to repair and reuse old clothes and shoes instead of throwing them away. The French government committed 154 million euros ($168 million) to the initiative, reimbursing shoppers up to 25 euros ($27.20) for each garment they repaired. Refashion, the non-profit group tasked with implementing the plan, revealed that 3.3 billion items of clothing, home linen, and footwear were sold on the French market in 2022. The country’s Ministry of Ecology also revealed that French people throw away 700,000 tons of clothing every year, two-thirds of which go to landfill.

According to the annual State of Fashion report released by The Business of Fashion and McKinsey & Company, fashion accounts for 3% to 5% of global carbon emissions and is one of the world’s top polluting industries. The report also highlights that about half of the fibers produced by the industry are oil-based polyester.

The Ultimate Guide To Choosing The Perfect Shower Wall Panel

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One can Shower panels incorporated into contemporary bathroom designs have been a smooth transition, bringing a new era of improved bathing experiences. With their sleek and practical design, these modern fixtures transcend your bathroom’s appearance and give it a spa-like atmosphere.

It may be challenging to go through the many alternatives and select the ideal shower wall panel. Therefore, it becomes necessary to exercise caution while surrounded by abundant options.

The subtleties of choosing shower panels are examined in this article, which throws light on critical factors, including careful installation and design choice.

Come along as we break down the essential elements to guarantee that your search for the perfect shower panel is well-informed.

Understanding Your Needs

Shower panel or wall boards and shower surrounds are large panels used to cover all the wall areas enclosing your shower. They are a functional and decorative feature that protects the interior, is easy to maintain, and contributes to the appeasing of your bathroom. In contrast to tile installation, panels on shower walls have seamless surfaces without many grout lines. This is beneficial because mold and mildew usually build up in grout lines and take a long time to overcome.

Design and Taste

Shower wall panels come in different designs, some of which are mentioned below: –

Smooth Finish

Smooth panels furnish bathrooms with a minimalist design and a spotless, modern appearance. They give a smooth, cleaned-up look that makes small bathrooms appear to be bigger.

Textured Finish

Due to the textured panels, your shower walls will be more outwardly intriguing and have depth. They are accessible in various designs, including block, stone, and subway tile surfaces, so you can design a customized, tasteful aesthetic.

Glossy Finish

Your bathroom will appear to be lighter and bigger thanks to glossy boards that reflect light and produce a splendid appearance. They are ideally suited for busy homes since they are easy to maintain and clean.

Materials

Various materials are available for shower wall panels, some of which are listed below: –

Acrylic

Acrylic panels are strong, lightweight, and simple to install. Since acrylic panels don’t scuff or become dirty easily, they are perfect for bathrooms with lots of usage.

Polyvinyl Chloride, or PVC

PVC panels are low-cost, watertight, and need little upkeep. You can get the shower you want with them because they come in a variety of finishes, including glossy, matte, etc.

Furthermore, PVC panels are resistant to mold and mildew and are appropriate for humid areas.

Composite

Acrylic, fiberglass, and aluminum are just a few of the elements that are combined to make composite panels that are strong and adaptable. Larger shower rooms can benefit from their exceptional strength and stability.

Composite panels have the ability to imitate the appearance of real stone or tile, offering a posh finish without the trouble of grout cleaning.

Marble chips

Crushed marble and resin are used to create the opulent and refined look of cultured marble panels. They are impervious to stains and scratches, very durable, and non-porous.

You can alter the look of your shower by choosing from a variety of colored and patterned cultured marble panels.

Foundation

The longevity of your shower wall panels relies upon appropriate establishment. Certain panels are not difficult to establish yourself, while additional confounded establishments might require professional assistance. The following are some important things to remember while setting up shower wall panels: –

Setting up the Substance

Prior to setting up panels, ensure the walls are dry, clean, and liberated from dampness. To develop a durable base, utilize legitimate waterproofing materials, such as concrete board or dampness-safe drywall.

Utilization of Glue

solidly attach the panels to the substrate, utilize the paste or sealant that is advised. To establish a watertight seal, adhere to the manufacturer’s application and curing time guidelines.

Shutting Edges

In order to prevent water from leaking, close consideration should be given to caulking the board edges and creases. For ideal waterproofing in clammy regions, use silicone caulking.

Maintenance

Shower wall panel maintenance is necessary to maintain both their aesthetic and functional integrity. Grime and soap scum accumulation may be avoided with routine cleaning using a soft cloth and mild soap solution.

Water stains and mineral buildup are reduced by using a towel or squeegee after showers. In order to lower humidity and stop the formation of mold and mildew, bathrooms should have enough ventilation.

The surface of the panel can be gently restored for minor damage by rubbing it with fine-grit sandpaper or polishing compound. Getting expert help when there is severe damage guarantees proper upkeep and repair, extending the life of your shower wall panels.

Bottomline

Choosing the ideal shower wall panel requires cautiously gauging your requests, tastes, and the attributes that the market offers.

Whether you pick a digital wall panel or a textured shower wall panel for a spa-like experience, this article will help you settle on an informed decision.

By finding out about the many kinds of shower wall panels, fundamental elements to consider, and the latest innovation breakthrough, you can make your everyday shower routine a remarkable and customized experience.

Nigeria’s SEC Proposes 400% Increase to Crypto Firm Registration Fees

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The regulator proposed increases to all supervision fees as the government blamed crypto for recent economic woes.

Nigeria’s securities watchdog proposed a 400% increase to registration fees for crypto firms as the country cracks down on the sector, according to a notice published Friday.

The proposed amendments to the rules for crypto issuers, exchanges and custody platforms include increases to all supervision fees. Instead of a 100,000 naira ($64) application fee and a 30 million naira registration fee, the Securities and Exchange Commission (SEC) now wants 300,000 naira with every application and hopes to charge crypto firms a 150 million registration fee.

The proposals come as the Nigerian naira weakens to record lows against the dollar, with the government blaming the crypto industry for facilitating illegal capital outflows. Earlier this month, reports surfaced that the SEC was updating its guidelines for crypto service providers in the country.

While the government may have taken action against several crypto firms, officials have singled out exchange platform Binance, accusing it of setting the naira exchange rate. Nigeria has detained two Binance executives and is reportedly considering hefty penalties against the firm.

The SEC also proposed doubling the minimum paid-up capital (non-borrowed capital) requirement for interested crypto service providers to 1 billion naira.

The proposals “to rearrange” the rules are to “provide clarity to the market as well as to incorporate suggestions from industry stakeholders particularly with regards to the recent engagements with the [central bank of Nigeria],” the SEC said.

SOL Crosses $200 as Meme Coin Frenzy Bumps Demand for Solana Network

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Scores of newly issued tokens boast trading volumes of tens of millions, showcasing network usage and demand for blockspace.

Solana’s SOL crossed $200 for the first time since November 2021 as network activity continues to grow rapidly on the back of the meme coin frenzy.

SOL is now 22% away from its lifetime peak of $260 but has already crossed its record market capitalization of $75 billion market capitalization, CoinGecko data shows, as new tokens entered the market over the past year.

Data shows that various metrics, such as network volumes, active wallets, total value locked (TVL), fees, and SOL’s market capitalization, crossed lifetime peaks over the weekend, led by a surge in pre-sale activity.

The network amassed $3.2 million in fees over a 24-hour period, beating a $300,000 record from 2021. Onchain volumes climbed over $3 billion, flipping a November 2022 record of $300 million.

However, net inflows to the Solana blockchain have been negative over the past week, suggesting there has not been a significant influx of new money into the ecosystem.

Sentiment data shows Solana network activity has been likely led by retail traders who chased newer meme coins and presales that popped up on the network over the weekend.

SOL was trading at $202 during Asian morning hours, up 10% since Sunday. Meanwhile, bitcoin was hovering over $68,000, while the broader CoinDesk 20 index is up 6%.

Putin secures a landslide victory in the Russian election, facing no significant competition

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President Vladimir Putin won a record post-Soviet landslide in Russia’s election on Sunday, cementing his already tight grip on power in a victory he said showed Moscow had been right to stand up to the West and send its troops into Ukraine.

Putin, a former KGB lieutenant colonel who first rose to power in 1999, made it clear that the result should send a message to the West that its leaders will have to reckon with an emboldened Russia, whether in war or in peace, for many more years to come.

The outcome means Putin, 71, is set to embark on a new six-year term that will see him overtake Josef Stalin and become Russia’s longest-serving leader for more than 200 years if he completes it.

Putin won 87.8% of the vote, the highest ever result in Russia’s post-Soviet history, according to an exit poll by pollster the Public Opinion Foundation (FOM). The Russian Public Opinion Research Centre (VCIOM) put Putin on 87%. First official results indicated the polls were accurate. The United States, Germany, the United Kingdom and other nations have said the vote was neither free nor fair due to the imprisonment of political opponents and censorship.

Communist candidate Nikolai Kharitonov finished second with just under 4%, newcomer Vladislav Davankov third, and ultra-nationalist Leonid Slutsky fourth, partial results suggested.

Putin told supporters in a victory speech in Moscow that he would prioritise resolving tasks associated with what he called Russia’s “special military operation” in Ukraine and would strengthen the Russian military.

“We have many tasks ahead. But when we are consolidated – no matter who wants to intimidate us, suppress us – nobody has ever succeeded in history, they have not succeeded now, and they will not succeed ever in the future,” said Putin.

Supporters chanted “Putin, Putin, Putin” when he appeared on stage and “Russia, Russia, Russia” after he had delivered his acceptance speech.

Inspired by opposition leader Alexei Navalny, who died in an Arctic prison last month, thousands of opponents protested at noonagainst Putin at polling stations inside Russia and abroad.

Putin told reporters he regarded Russia’s election as democratic and said the Navalny-inspired protest against him had had no effect on the election’s outcome.

In his first comments on his death, he also said that Navalny’s passing had been a “sad event” and confirmed that he had been ready to do a prisoner swap involving the opposition politician.

When asked by a NBC, a U.S. TV network, whether his re-election was democratic, Putin criticised the U.S. political and judicial systems.

“The whole world is laughing at what is happening (in the United States),” he said. “This is just a disaster, not a democracy.”

“…Is it democratic to use administrative resources to attack one of the candidates for the presidency of the United States, using the judiciary among other things?” he asked, making an apparent reference to four criminal cases against Republican candidate Donald Trump.

The Russian election comes just over two years since Putin triggered the deadliest European conflict since World War Two by ordering the invasion of Ukraine.

The hotel welcoming BlackPink in Hanoi ranked best in Vietnam

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With its exquisite design and upscale facilities, Capella Hanoi ranks at the top of the “10 Best Hotels in Vietnam’s Cities.”

Rosé (Black Pink) stayed in a luxury room costing more than 30 million VND/night at Capella Hanoi while on tour in Vietnam. Photo: Rose.

DestinAsian magazine has recently unveiled its list of the “10 Best Hotels in Vietnam’s Cities” as part of the Readers’ Choice Awards 2024. Among them, Capella Hanoi takes the lead.

Capella Hanoi is where the BlackPink music group stayed during their BornPink concert in Hanoi in July 2023.

A night’s stay here starts at 10 million Vietnamese dong, with the most luxurious being the Grand Opera Suite priced at over 100 million dong per night. This suite spans 194 square meters, featuring a spacious living room, dining area accommodating 10 guests, a fully equipped kitchen, and an elegant bar counter.

Previously, in 2021, Capella Hanoi also made it to the list of “Best New Hotels in the Asia-Pacific Region” by this magazine.

According to DestinAsian experts, what distinguishes a luxury hotel lies in its refined design coupled with elevated amenities. It should offer guests a fresh perspective on a familiar landscape. Hence, Capella Hanoi stands out as the top choice for this list.

Inside, Capella Hanoi possesses a luxurious design. Photo: Sun Group, Hibana by Koki.

Located at 11 Le Phung Hieu Street, on one of Hanoi’s most beautiful avenues, Capella Hanoi is Sun Group’s first boutique hotel showcasing unique Art Nouveau and Art Deco architecture, reminiscent of a lavish inn for artists and renowned composers during the golden age of Opera music in the 1920s.

It is also the first hotel operated by the Capella brand in Vietnam. Designed by architect Bill Bensley, whose masterpiece Capella Ubud Bali won the “Outstanding Hotel in the World in 2020” award.

In addition to its upscale design, the hotel features Hibana by Koki restaurant, listed in the Michelin Guide. This restaurant offers Japanese culinary art Teppanyaki – a style of using iron, steel, or cast iron to cook dishes, often grilling, stir-frying, or frying.

Other hotels listed in the “10 Best Hotels in Vietnam’s Cities 2024” include:

InterContinental Hanoi Westlake
Park Hyatt Saigon
Sofitel Legend Metropole Hanoi
Le Méridien Saigon
Sheraton Saigon Hotel & Towers
Hotel Des Arts Saigon – MGallery
Caravelle Saigon
Lotte Hotel Hanoi
Hotel de L’Opera Hanoi – MGallery.

@Znews

Proposing Vietnam to waive visas for Australian tourists

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Australia is considered one of the promising markets that Vietnamese travel companies are focusing on.

During a recent tourism seminar between Vietnamese enterprises and Australia, Mr. Darrell Wade, Chairman of Intrepid Travel Group, affirmed that Australia is currently a promising source market for the Vietnamese tourism industry.

In recent times, direct flights connecting the two countries have contributed to bringing many Australian tourists to Vietnam

Evidence of this is the number of tourists brought to Vietnam by Intrepid Travel in 2023, which exceeded pre-Covid-19 levels. At present, Vietnam is emerging as a destination offering diverse experiences. Intrepid Travel initially focused on adventure tourism in Vietnam, but later expanded to offer cultural and culinary tours.

“My friends visited Melbourne and said the city is amazing, but everything is expensive, such as dining in restaurants. In Vietnam, tourists have access to international standard services at much more reasonable prices. This does not mean that Vietnam is a cheap destination, but rather the value, the uniqueness that Vietnam can offer to tourists,” added Mr. Darrell Wade.

Assessing the potential for extensive cooperation and tourist exchanges between Vietnam and Australia commensurate with the relationship between the two countries, Deputy Minister of Culture, Sports, and Tourism Ho An Phong emphasized: In 2023, the Vietnamese tourism industry witnessed a recovery by welcoming 12.6 million international visitors. Among them, Australian tourists accounted for only 3%, but they are an important and promising source, with a trend of longer stays and higher spending.

Just two months into 2024, the number of Australian tourists visiting Vietnam equaled 25% of the total for the entire year of 2023. In the future, cooperation between the parties needs to be further strengthened to achieve new results, and the Ministry of Culture, Sports, and Tourism will spare no effort to support the development of tourism businesses in both countries.

Mr. Andrew Goledzinowski, Australia’s Ambassador to Vietnam, believes that tourism cooperation between Vietnam and Australia has many opportunities for development, especially after the two countries upgraded their relationship to a Comprehensive Strategic Partnership and established more direct flight routes connecting their cities.

“Most recently, the addition of the Hanoi – Melbourne flight route, and we need even more direct flights. As more Vietnamese students study in Australia, their families and relatives will also visit Australia. People-to-people exchanges between the two countries are increasingly being strengthened,” stated Mr. Andrew Goledzinowski.

Furthermore, representatives of Australian tourism businesses expect the Vietnamese tourism industry to continue improving service quality and maintaining affordable prices, as this is a competitive advantage that helps Vietnam attract international tourists. At the same time, it is proposed that Vietnam consider exempting visas for Australian tourists to increase attractiveness, as many destinations in the region such as Thailand, Singapore, Bali, etc., have already exempted visas for Australian visitors.

According to data from the National Tourism Administration, the Australian market has fully recovered and slightly increased (+2%) compared to 2019. In the first two months of the year, Vietnam welcomed 97,000 Australian visitors, ranking among the top 10 leading markets. Recently, during Prime Minister Pham Minh Chinh’s official visit to Australia, the two countries upgraded their relationship to a Comprehensive Strategic Partnership. In addition to the current good cooperation, both sides agreed to promote the signing of a cooperation agreement in the tourism sector, striving to place both countries among each other’s top tourism markets. This event opens up bright prospects for increased tourism exchanges between our country and Australia in the future.

@Thanhnien.vn

Gold Investors Aren’t Switching Into Bitcoin, JPMorgan Says

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Outflows from gold exchange-traded funds and a surge in bitcoin ETF inflows fueled speculation investors were shifting from the precious metal into the cryptocurrency.

Institutional investors and individuals have been buying both gold and bitcoin (BTC) this year, not switching between the two, as some analysts have postulated, JPMorgan (JPM) said in a research report on Thursday.

Outflows from gold exchange-traded funds (ETFs) and a surge in bitcoin ETF inflows raised the possibility that investors were shifting from the precious metal into the cryptocurrency, the report said. The bank said it disagreed.

“Private investors and individuals have propagated both gold and bitcoin year-to-date rather than shifting from the former to the latter,” analysts led by Nikolaos Panigirtzoglou wrote.

“Beyond retail investors, speculative institutional investors such as hedge funds including momentum traders such as CTAs appear to have also propagated the rally by buying both gold and bitcoin futures since February, perhaps more heavily than retail investors,” the authors wrote.

The bank’s analysis shows a “sharp position build-up since February of $7b in bitcoin futures and $30b in gold futures.”

The risk of mean reversion looks high, the bank said, which means both assets could fall back toward their average levels.

Software developer MicroStrategy (MSTR), which has a corporate strategy of buying bitcoin, also played a part in amplifying the rally, the bank said. The company has bought over $1 billion of bitcoin this year, adding to the more than $1 billion acquired in the last quarter of 2023, the report noted.

“We believe the debt-funded bitcoin purchases by MicroStrategy add leverage and froth to the current crypto rally and raise the risk of more severe deleveraging in a potential downturn in the future,” the report said.

Avalanche Foundation Snaps Up KIMBO, COQ, and Three Other Tokens as First Meme Coin Investment

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The Foundation first said in December it would invest in meme coin as part of a digital culture drive.

Avalanche Foundation, a non-profit that maintains the Avalanche blockchain, on Thursday said it had deployed capital into five Avalanche-based tokens based on certain criteria and that it intended to continue such investments in the future.

The picks are dog-themed kimbo (KIMBO), chicken-themed Coq Inu (COQ), gecko-themed Gecko (GEC), technology joke token TECH, and Avax has no chill (NOCHILL).

These tokens were issued in the past few months and saw daily cumulative trading volumes of millions of dollars. The mem coins jumped as much as 60% after Avalanche’s disclosure, beating a general market-wide drop.

DEXTools data further shows a bump in trading volumes on Avalanche tokens alongside a rise in the issuance of new meme tokens, likely in hopes of a new cult becoming the next Foundation pick.

Following the disclosure, volumes on the Avalanche exchange Trader Joe grew to $65 million on Thursday from $53 million on Wednesday, although these volumes include all tokens.

Avalanche referred to these meme tokens as community coins. “Community coins have become vital Web3 touchstones today. They represent the fun, spirit, uniqueness, and interests of diverse crypto communities,” it stated.

COQ was among Avalanche’s runaway meme hits in December amid a meme coin frenzy. A single trader acquired just over $450 worth of COQ shortly after its issuance and managed to turn it into over $2.5 million in a few weeks, with thousands of hopeful memes deployed on the network later on to emulate COQ’s apparent success.

Meme coins are often considered a scammy part of the market among blockchain purists, but the success of this niche—led by investments from prominent blockchain teams—could be starting to change the stigma associated with investing in such tokens.