Will the Global Minimum Tax Affect Foreign Direct Investment in Vietnam?

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Vietnam recently implemented the Global Minimum Tax (GMT) with a 15% tax rate for multinational enterprises earning over 750 million euros annually.

Concerns have arisen about its impact on Foreign Direct Investment (FDI) as it restricts Vietnam’s ability to offer tax incentives to attract investors. However, experts argue that tax incentives are not the primary motivation for multinational companies investing in developing countries like Vietnam.

Mr. Michael Kokalari, Director of Macroeconomic Analysis and Market Research Department at VinaCapital, dismisses concerns, asserting that tax incentives are not the decisive factor for multinational companies when investing in developing nations. Research by the World Bank suggests that factors such as cost, labor quality, infrastructure, and the business environment’s openness play more significant roles in investment decisions.

Vietnam, cognizant of potential impacts, is exploring alternatives to mitigate the effects of the GMT. The Ministry of Planning and Investment is proposing the “Investment Support Fund” (ISF) to refund taxes through measures like supporting employee training, research and development (R&D) costs, and interest expenses. This initiative aims to offset the tax burden imposed by the GMT on multinational companies.

VinaCapital estimates that over 100 multinational companies in Vietnam will be affected by the GMT, generating an additional 600 million USD in taxes, equivalent to 4% of FDI company profits. Notably, some entities like Samsung, currently paying around 5% tax on revenue in Vietnam, may experience a significant tax increase due to the 15% minimum tax rate.

The ISF, though recently announced, lacks detailed information. Industry experts anticipate that other countries competing for FDI in the region will likely implement similar measures to maintain a competitive tax environment.

Mr. Hoang Thuy Duong, Deputy General Director of KPMG Vietnam, emphasizes the importance of government support for various sectors, particularly high-tech, electric vehicles, and green energy. He suggests redirecting support from income-based tax incentives to cover costs such as investment, labor, land, and research and development. This shift aligns with the evolving trend in developed countries, moving away from income-based tax incentives to focus on expense-related support.

The global minimum tax is not an obligatory international treaty, but rather a trend that countries, including Vietnam, are adopting. Failure to comply may result in relinquishing tax collection rights to the parent country of the investing company. Vietnam’s adherence to the GMT is seen as a means to boost budget revenue, prevent profit transfer pricing, and maintain control over tax collection rights.

Statistics from the General Department of Taxation reveal that around 120 businesses with revenues exceeding 750 million USD operating in Vietnam could be affected by the GMT. As the country navigates these changes, it must balance attracting new investors and supporting existing ones, especially those aligned with its long-term development goals.

Ether Jumps Over $2.4K as Traders Bet on Possible Ether ETF Next

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BlackRock had previously filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its iShares Ethereum Trust, a spot ether exchange-traded fund (ETF).

Ether (ETH) and native tokens of applications built on Ethereum surged in the past 24 hours as traders bet on the likelihood of the possible proposal of an ether exchange-traded fund (ETF) following the expected approval of a bitcoin ETF in the U.S.

Ether exchanged hands over $2,400 in early European hours Wednesday, up 5% in 24 hours. Bitcoin was down 2.2% in the same period as a series of fake tweets from the temporarily hacked U.S. Securities and Exchange Commission’s X account, which created significant volatility in bitcoin trading.

BlackRock had previously filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its iShares Ethereum Trust, a spot ether exchange-traded fund (ETF).

Sentiment in the crypto community suggests traders are positioning themselves for an eventual ether-focused product – which could be the first time professional investors in the U.S. gain spot exposure to the blockchain’s token without having to own it.

“There’s a noticeable trend towards frontrunning the ether ETF,” Alex Onufriychuk, the CEO of Kaminari, said in a Telegram message.

Lido’s LDO and RocketPool’s RPL gained as much as 17% before retreating. Both protocols allow users to stake ether on their platforms and earn around 4.5% in annualized staking rewards.
Elsewhere, tokens of layer 2 networks such as Mantle’s MNT and Optimism’s OP gained as much as 9%. These networks are built atop Ethereum but operate as independent blockchains, allowing users to transact cheaply and much faster than the main blockchain.

However, market observers cautioned that an ether ETF remained a probability rather than a possibility as of Wednesday.

“The main idea is that ETH, being the second largest cryptocurrency, would have the highest probability of being the next ETF after BTC,” Martin Lee, analyst at on-chain data firm Nansen, told CoinDesk in a Telegram message.

Thirteen issuers, including traditional finance giants BlackRock and Fidelity, are currently in line for a spot bitcoin ETF whose approval is widely anticipated later on Wednesday.

China-ASEAN Intl Media Tour 2023 begins in Indonesia

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The “Song of Our Homeland” China-ASEAN International Media Tour 2023 was launched at the Halim Railway Station of the Jakarta-Bandung High-Speed Railway in Jakarta, Indonesia, on Wednesday.

Coinciding with the 10th anniversary of the Belt and Road Initiative, the event aims to  tell stories of mutual benefit between China and ASEAN.

Organized by China Daily and the ASEAN-China Centre, co-organized by China Daily Multimedia, the media tour will gather journalists from main media outlets from China and ASEAN countries.

They will focus on key projects of Chinese enterprises such as Cainiao Cikarang Logistics Park in Indonesia, Singapore Meetsocial, vivo Indonesia, and Sensetime International in Singapore, aiming to capture stories of how the Belt and Road Initiative has benefited people in participating countries.

The event has also invited local overseas Chinese to participate and engage in dialogues with Generation Z (those born after 1995 and into the 2000s), including Chinese students studying in Indonesia and Singapore, to share their perspectives on exchanging of culture and stories.

“Over the decade of jointly building the Belt and Road Initiative, the interactions between media and youth from China, Indonesia and Singapore have become increasingly frequent, playing an active role in enhancing mutual understanding among people, promoting cultural exchanges, and inheriting the friendship between China and Indonesia, as well as China and Singapore,” said the head of the delegation Li Jun, deputy editor-in-chief of China Daily Multimedia.

This event, which aims to better harness the media’s role as a link or connection, will give better play to the role of the media and youth as a bridge, becoming communicators and guardians of China-Indonesia and China-Singapore friendships, she added.

In the next few days, the media tour delegation will adopt perspectives as cultural “translators” and economic “observers” in Indonesia and Singapore to understand the practical participation of the two countries in building the Belt and Road Initiative.

They will listen to the voices of Chinese brands on the international stage and discuss how the Belt and Road Initiative creates a better future of peace, development, cooperation, and mutual benefits.

 

Cloud hunting season on Ba Den mountain

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The top of Ba Den mountain is covered with white clouds, hidden in the clouds is the Buddha statue of Tay Bo Da Son

Ba Den Mountain, also known as the “roof of the South”, is a fascinating destination for tourists and Buddhists alike. The mountain is located about 110 km from Ho Chi Minh City, about 11 km northeast of Tay Ninh City center, and has long been a symbol of Tay Ninh province. It has become a spiritual convergence point faithfully worshiped by Buddhists from all over, especially since the modern cable car line and a complex of Buddhist architectural works, notably the Tay Bo Da Son Buddha statue, which is the tallest bronze Buddha statue in Southeast Asia.

The cable car takes tourists to the top of Ba Den mountain

Nowadays, even children and the elderly can visit the top of Ba Den mountain thanks to the modern cable car system. It takes less than 10 minutes for everyone to conquer the “roof of the South” with its wild, charming, modern, and sacred beauty. From the top of Ba Mountain, we can see a vast plain covering the outskirts of Tay Ninh City, in the distance is the city in the night light, and the vast Dau Tieng Lake. The mountain also offers a charming and majestic natural scenery that attracts many tourists and photographers.

Ba Den Mountain is an ideal cloud-hunting spot for those who love tourism and photography. The best time to hunt clouds is from May to January of the following year, in the early morning and evening. According to local people’s experience, the probability of clouds is higher when it rains the night before and the next morning is clear with little wind. At this time, due to high air humidity and large temperature differences, it is easy for low layers of dew to form. The whole Tay Ninh is immersed in a blanket of white clouds floating like a heavenly scene, and if you use a drone to look closely, you will see the Buddha statue of Tay Bo Da Son as if riding on magical white clouds, no different from a fairyland.

December to April is the most suitable time for people to roam on the top of Ba Mountain. The weather is clear, the air is cool and pleasant for everyone to enjoy and take photos as souvenirs. Moreover, visitors can also see the colorful flower parks and attend the lantern offering ceremony on full moon days or major Buddhist holidays of the year. It’s a beautiful sight to watch flower lanterns and pray for peace and luck with Buddhists from near and far.

@thanhnien.vn

Be Group raised $30 million, fueling its push to take on Grab in Vietnam’s ride-hailing market

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  • Be Group expanding its ride, delivery and fintech offerings.
  • Upstart targets $200 million in gross revenue in two years.

Vietnam’s Be Group raised 739.5 billion dong ($30 million) in fresh funding, accelerating its push to take on larger rival Grab Holdings Ltd. in markets from ride-hailing to deliveries.

Local firm VPBank Securities is providing the funding and will own shares in BE Group’s parent upon closing of the round, according to a statement from the technology company Wednesday.

Read full story here

Vietnamese destinations honored by the world’s largest tourism platform

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Hanoi has been voted by the world’s largest travel platform, TripAdvisor, as one of the 20 most popular destinations in the world in 2023.

In the Travelers’ Choice Best of the Best Destinations category for 2023, Hanoi ranks 17th among the most popular cities for tourists, alongside two other Southeast Asian destinations: Bali (Indonesia) at second place and Phuket (Thailand) at 16th place. Bangkok is ranked 22nd on the list. This is the second consecutive year that Hanoi has made it onto TripAdvisor’s list.

Experts and editors at TripAdvisor note that Vietnam’s capital is still “enduring over the years,” preserving historical sites and cultural architecture while allowing space for modern development. Landmarks such as the Ho Chi Minh Mausoleum, Hoa Lo Prison, and various lakes, parks, temples, and pagodas contribute to the city’s appeal. Visitors can easily explore the city by taxi.

Hanoi is also honored in the “Best Food Destinations” category, securing the third position. Popular food destinations in Hanoi according to TripAdvisor users include Bun Cha Huong Lien, Giang Coffee, Thang Long Fish Cake, and Ly Quoc Su Pho.

In the “Trending Destination” category, Vietnam contributes two names: Hoi An (Quang Nam) at second place and Ho Chi Minh City at 11th place. TripAdvisor describes Hoi An as a stopover for backpackers, where visitors can experience tailor-made clothing from professional tailors in the ancient town.

Ho Chi Minh City is renowned as Vietnam’s bustling metropolis. TripAdvisor recommends exploring the city by taxi, visiting the War Remnants Museum, Ngoc Hoang Pagoda, the vibrant Ben Thanh Market, and indulging in the local culinary scene.

@Vietnamnet

Vietnam Airlines in the top 10 most punctual in Asia

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The UK-based data analytics company specializing in aviation, Cirium, has recently released its annual report on On-Time Performance (OTP) of global airlines, based on operational efficiency and punctuality.

According to the report, Vietnam Airlines ranked 9th out of the top 10 most punctual airlines in the Asia-Pacific region in 2023, with an on-time flight rate of 77.46% out of a total of 150,674 flights.

Cirium calculates on-time performance by considering that an aircraft must be at the gate within 15 minutes of the scheduled time and depart within 15 minutes of the initially announced time.

Vietnam Airlines is the most punctual airline in Vietnam

In the 2023 report, IndiGo, the largest airline in India, secured the 4th position in the list of the most punctual airlines in the Asia-Pacific region. All Nippon Airways from Japan claimed the top spot, followed by Japan Airlines in second place, and Thai Air Asia in third.

Specifically, the top 10 most punctual airlines in 2023 in the Asia-Pacific region are as follows:

  1. All Nippon Airways, Japan (On-time rate: 82.75%)
  2. Japan Airlines, Japan (82.58%)
  3. Thai AirAsia, Thailand (82.52%)
  4. IndiGo, India (82.12%)
  5. Air New Zealand, New Zealand (79.68%)
  6. Garuda Indonesia, Indonesia (78.67%)
  7. Singapore Airlines, Singapore (78.57%)
  8. Philippines Airlines, Philippines (77.46%)
  9. Vietnam Airlines, Vietnam (77.46%)
  10. Cathay Pacific, Hong Kong (76.32%)

Meanwhile, the top 5 most punctual airlines globally include Avianca Airlines, the national airline of Colombia, with an 85.73% on-time rate, followed by Azul Airlines, Qatar Airways, Delta Air Lines, and Iberia.

Cirium compiled this list by analyzing real-time data from 600 sources, ensuring accuracy from airports, airline ground service providers, global distribution systems, airlines, location data, civil aviation authorities, and exclusive data partner relationships.

@Thanhnien.vn

BlackRock, VanEck Update Bitcoin ETF Filing Within Hours of Quick SEC Response

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The filings indicate that the two entities were among the prospective issuers that the U.S. Securities and Exchange Commission (SEC) sent comments in the past 24 hours.

BlackRock (BLK) and VanEck, the two firms among 13 hoping to launch bitcoin (BTC) exchange-traded funds (ETFs) in the U.S., have filed updated documents on Tuesday.

The filings indicate that the two entities were among the prospective issuers that the U.S. Securities and Exchange Commission (SEC) sent comments in the past 24 hours. CoinDesk reported earlier that the SEC sent comments to a set of prospective issuers of the spot-bitcoin ETFs just hours after the companies filed documents detailing fees for their proposed products on Monday.

Among the changes in the latest updated filing on Tuesday is wording that seeks to mitigate damage to shareholders in the event of insolvency and avoid a conflict of interest between the ETF’s authorized participants.

The latest filing shows an almost unprecedented engagement between the SEC and prospective issuers, with filings following SEC responses and then updated filings within a span of 24 hours.

The SEC is widely expected to approve all the applications this week as it faces a Jan. 10, 2024 deadline – i.e. this Wednesday – for one of the applications by Ark and 21 Shares and may want to approve all together in the spirit of fairness.

U.S. Arrests ‘Bitcoin Rodney,’ Alleged HyperVerse Crypto Scheme Promoter, on IRS Charges of Fraud

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Rodney Burton was arrested on Friday in Florida and will be transferred to Maryland.

United States authorities arrested and charged Rodney Burton for allegedly defrauding more than $7 million through a fake investment scheme, according to allegations submitted by the U.S. Internal Revenue Service (IRS) on Jan. 5.

Burton, also known as “Bitcoin Rodney,” was charged in Maryland with allegedly promoting the HyperVerse crypto investment scheme, court filings show. HyperVerse, also known as Hyperfund, HyperCapital and HyperNation, was an unincorporated organization established around June 2020, the filing said.

“A network of HyperFund promotors, in the District of Maryland and elsewhere, made fraudulent promotional presentations to investors and potential investors,” according to the filing by Andrew J. Accardi, a special agent with the IRS’s Criminal Investigations department. “HyperFund falsely claimed that investors who purchased ‘memberships’ would receive between 0.5% to 1% daily in passive rewards until HyperFund doubled or tripled the investor’s initial investment.”

Burton, the filing alleges, received 562 wire transfers or cashier’s checks, totaling $7,851,711, from individuals. He was arrested on Friday in Florida and will be transferred to Maryland.

The HyperVerse crypto scheme resulted in thousands of people losing millions of dollars, according to an investigation by Guardian Australia last month. The scheme was run by an entity called HyperTech and promoted and run by CEO Steven Reece Lewis, who appears not to exist, according to the newspaper.

Australia’s Assistant Treasurer and Minister for Financial Services Stephen Jones has said he will ask the country’s Securities and Investments Commission (ASIC) why it didn’t warn consumers about the HyperVerse crypto scheme, unlike other nations.

The Top 5 Foods For Boosting Mood And Productivity 

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The Top 5 Foods For Boosting Mood And Productivity

Modern lives are often filled with stress, anxiety, and endless pressure to achieve more. Amidst this strife, maintaining emotional well-being and cognitive sharpness is critical to navigating each day successfully.  

While external factors contribute, what you choose to ingest notably impacts your inner state of being. As it turns out, specific foods profoundly affect mood, focus, and drive when incorporated regularly.  

This article examines the top five nutrient-dense dietary selections that boost psychological wellness and productivity. 

1.Fatty Fish Foods

Additionally, fatty fish like salmon, tuna, and mackerel are nutritional powerhouses for mental well-being. At the root of their benefits lies omega-3 fatty acids EPA and DHA. These healthy fats optimize brain cell signaling, fostering calm, clarity, and focus.   

Also, mood-regulating hormones receive a boost. The result? An eased inner monologue as worries fade. Studies correlate diets rich in oily fish to lower depression rates. Their nutrients actively support a relaxed yet driven mindset. 

Therefore, incorporating fatty fish makes it effortless to reap these rewards. Baking, pan searing, or adding to salads provides endless delicious ways to fit fatty fish into your lifestyle. These marine superfoods are a simple yet impactful addition for optimized wellness from within. 

2.Dark Leafy Greens Foods

Moreover, dark leafy greens like kale, spinach, and Swiss chard provide abundant vitamins, minerals, and antioxidants to nourish the mind. These greens stand out as one of the primary dietary sources of vitamin K, an underrated nutrient for cognitive and emotional health. 

Vitamin K plays a role in synthesizing sphingolipids– fatty substances in the brain linked to memory, learning, and mood regulation. Research links higher vitamin K intakes to reduced depression risk and less depressive symptoms. 

Also, greens deliver mood-lifting vitamin C, magnesium, folate, and flavonoids like kaempferol and quercetin, which are tied to happier, calmer states. Their wealth of brain-nourishing compounds and low-calorie count make dark leafy veggies a mood and productivity winner. 

3.Strawberries Foods

There’s a reason strawberries are Nature’s candy – these vibrant red berries are loaded with sweet flavor and joy-sparking nutrients. Beyond satisfying a craving, strawberries offer a quick pick-me-up anytime stress or dullness creeps in. 

A bite triggers the release of feel-good chemicals like serotonin in the brain. Instantly, spirits and pep are lifted. Their antioxidants also protect neurons, supporting cognitive function. 

Best of all, the summer favorite is available year-round. Toss into cereal or yogurt, add to a salad – enjoying their natural sweetness provides an anytime lift for the mind and waistline alike. 

4.Dark Chocolate Foods

When it comes to cravings, dark chocolate is the clear winner. But beyond its addictive richness lies real power to elevate your entire mental state. Just one small piece packs the perfect anandamide punch. 

This mood-lifting chemical mimics the function of endocannabinoids, your brain’s natural feel-good compounds. A blast of anandamide ignites positive emotions while calming tension. Suddenly, everything seems brighter and more manageable. 

Besides, paired with dark chocolate’s antioxidants, this one-two punch delivers unbeatable benefits. Flavonoids improve blood flow to carry those happy chemicals where needed—your focus, memory, and drive surge. 

Additionally, opt for varieties containing at least 70% cocoa solids. Their lower sugar reflects higher concentrations of mind-nourishing nutrients. Experience a novel kind of clarity – the kind that sparks peak productivity and creativity all afternoon long! 

5.Kratom 

Remarkably, within the past decade, kratom has been among the most used substances for mood enhancement. It comes from the Mitragyna speciosa tree leaves that originate from Southeast Asia. The active components of its leaves contain alkaloids that act on brain opioid receptors to inhibit stress impulses and increase mood. 

Also, research on kratom reveals its anxiolytic and analgesic activities, making it helpful in treating anxiety, depression, pain, and fatigue. Several alkaloids in kratom, such as Mitragynine and 7-hydroxy mitragynine, activate opioid receptors to induce relaxation without the same risk of dependence as classic opioids.  

While more research is needed to understand its effects fully, kratom holds promise as a natural supplement. When sourced carefully and utilized by individuals in Canada, it can contribute to supporting mental wellness. 

Besides, using the supplement only occasionally, in small doses, may positively improve psychological well-being and increase efficiency for people. There should be a break in its uses to avoid any tolerance issues, which is quite reasonable. On the other hand, getting kratom from a reputable supplier may assist in the wise use of  kratom Canada as a dietary component.

Final Thoughts 

Are you feeling burnt out in today’s go-go world? You may be missing out on nature’s best brain and mood foods. Kratom, fatty fish, berries, chocolate, and leafy greens aren’t just for tasting good – these top 5 superfoods deliver low-key benefits that can majorly boost your productivity and outlook. 

The best part? You don’t need to overhaul your diet or break the bank – tweak your routine with a handful of these feel-good foods. Before you know it, you’ll feel sharper, more energized, and more equipped to tackle each day enthusiastically. Your inner landscape impacts your outer game, so nourish your body and watch your world level up. 

South Korea Bans Dog Meat. What’s on the Horizon for Vietnam?

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South Korea’s National Assembly has recently approved a groundbreaking legislation to prohibit the consumption and sale of dog meat, putting an end to the controversial centuries-old practice. The ruling party introduced the dog meat ban bill, which received overwhelming support with 208 votes in favor and 2 abstentions during the assembly session on January 9.

The legislation is set to be enforced after a 3-year transition period. Offenders could face penalties of up to 3 years in prison or a fine of 30 million won (approximately 22,800 USD).

Ms. Borami Seo from the Korea International Humane Association, an animal protection group, stated, “The bill will cease the breeding and slaughtering of dogs for human consumption, marking a pivotal moment to liberate millions of dogs from this inhumane industry.”

Although consuming dog meat was historically associated with enhancing endurance during Korea’s humid summers, the practice has gradually waned and is now primarily prevalent among the elderly. Activists report that most dogs are electrocuted or hanged during the slaughtering process, while some livestock owners and traders claim to have implemented more humane methods.

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Support for the dog meat ban has surged under President Yoon Suk Yeol, an avid animal lover who has adopted 6 dogs and 8 cats. First Lady Kim Keon Hee is also an outspoken critic of dog meat consumption.

According to a recent survey by the Seoul-based Animal Welfare Awareness, Research, and Education consultancy, over 94% of respondents did not consume dog meat in the past year, and approximately 93% expressed their intention not to do so in the future.

As of April 2022, the Korean Ministry of Agriculture estimates around 1,100 farms raising 570,000 dogs to cater to approximately 1,600 restaurants. The Korea Meat Dog Association, representing dog breeders and sellers, anticipates that the ban will impact 3,500 farms raising 1.5 million dogs and 3,000 restaurants.

In Vietnam, an estimated five million canines meet their fate for meat annually, ranking second globally only to China. The consumption of dog meat is rooted in beliefs associating it with dispelling bad luck or considering it a delicacy.

However, there is a gradual shift in attitudes toward consuming dog meat, particularly in urban areas, where more people are choosing to keep dogs as pets.

Tragically, a significant number of dogs meet their end through the theft of pets or the capture of strays from the streets. This is often done through cruel methods such as poisoned bait, painful taser guns, or by importing dogs from neighboring countries like Cambodia.

Despite appeals from authorities in major cities such as Hanoi, Hoi An Old Town in Quang Nam province, and Ho Chi Minh City, urging the public to abstain from consuming dog meat, the trade persists.

Vietnamese automaker VinFast set to unveil an electric pickup truck in the US

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VinFast has announced plans to introduce an all-electric pickup truck in the US, potentially comparable in size to the Ranger model. The Vietnamese automaker might unveil the new electric vehicle, along with the VF 3 minicar, at the Consumer Electronics Show (CES) 2024 in the United States.

A recent post on VinFast’s fanpage featured a video teasing a new car model with the caption “See you at CES 9th January.” Analysts speculate that this mystery vehicle is likely the pure electric pickup currently in development by VinFast.

Previously teased through a poster, the upcoming electric pickup showcases an aggressive front design with angular lines. The distinctive LED daytime positioning light strip forms a “V” shape, a signature brand identifier, arranged horizontally for a bold look. Details about the vehicle beyond these visual cues remain undisclosed.

VinFast had sought input from Vietnamese consumers on concept designs, including those for a pickup truck model. If categorized in segment D, the electric pickup is anticipated to share the dimensions of popular gasoline models such as the Ford Ranger, Mitsubishi Triton, or Toyota Hilux.

Expected to feature a powertrain similar to the VF 8 and VF 9 models, the electric pickup would likely include two electric motors delivering a combined 402 horsepower and a peak torque of 620Nm. The drivetrain is set to include a 4-speed full-time AWD system and a CATL battery pack with a 123kWh capacity.

Alongside the electric pickup, predictions suggest that VinFast may officially introduce the VF 3 minicar at CES 2024. Reuters had previously reported on VinFast’s plans to launch two new models—an electric pickup truck and a compact urban car.

The VF 3 minicar has generated considerable interest among Vietnamese consumers. While there have been rumors circulating on social networks regarding an expected starting price of 250 million VND (excluding the battery), experts caution that this information lacks accurate basis without detailed technical specifications.

CES 2024 is scheduled to kick off at 12:00 on January 9 (US time), translating to 0:00 a.m. on January 10 in Vietnam.

Hanoi proposes to replace 9 traditional bus routes with electric buses

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The Hanoi Department of Transport has proposed a pilot program to use electric buses for one year on nine bus routes. These routes currently have bids that expire in 2024 and will include Route 05 Linh Dam – Phu Dien urban area; Route 15 Gia Lam – Pho Ni bus station; Route 17 Long Bien – Noi Bai; Route 36 Yen Phu – Linh Dam urban area; Route 39 Nghia Do – Tu Hiep park; Route 43 Thong Nhat Park – Dong Anh town; Route 54 Long Bien – Bac Ninh, Route 47A National Economics University – Kieu Ky (Gia Lam); Route 59, Dong Anh town – Vietnam Academy of Agriculture.

After the bidding for these routes expires in the first quarter of 2024, the Department proposes to pilot orders for electric buses. The unit will then select a consulting firm to develop technical and economic norms and unit prices for medium and small electric buses. This will serve as a basis for bidding on bus routes when the pilot period ends.

It is estimated that by 2025, Hanoi will have about 68 bus routes whose contracts will expire and must be converted to electric buses.

@tuoitre.vn

Hanoians eagerly to take photos at the dreamy grapefruit garden

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In just over a month, the Lunar New Year will arrive, and it’s also the time when the grapefruit gardens in Phuc Dien ward, located in Hanoi, are ripe and ready for the harvest season. The grapefruit trees are planted in a straight line, with a small path in the middle, and golden ripe grapefruits hanging from the branches. The garden’s beauty is so enchanting that many people from the capital come here to capture rare and beautiful moments.

Mr. Nguyen Gia Dung’s family owns the grapefruit garden, and many people have suggested opening the garden to visitors for photography. Mr. Dung’s family will charge a fee of 50,000 VND for each guest, which will be used to keep the garden clean and secure.

With a large space, this is a suitable place for children to play freely.

The Dien grapefruit garden is 4 hectares wide, with about 2,000 grapefruit trees nearly 30 years old. The garden is open every day from 7:00 a.m. to 6:00 p.m. The largest number of visitors gather on Saturday and Sunday, with an average of 150-180 visitors on weekends.

The garden will welcome customers until January 20, and then they’ll harvest grapefruits to sell for the Lunar New Year. Visitors can buy grapefruit to take home or eat on the spot. The price of a Dien grapefruit ranges from 25,000 VND to 40,000 VND.

Dien grapefruit is a specialty grapefruit variety of Hanoi. It has a dark yellow color, thin pulp and peel, small cloves, and a slightly sweet, succulent taste. When eaten, its aroma lingers in the mouth.

When grapefruit trees bloom, it’s also a very poetic scene suitable for taking photos. Many families from inner-city districts, such as Ba Dinh and Dong Da, as well as farther away, Me Linh and Gia Lam, come to take photos of the ripe golden grapefruit garden.

Nguyen Minh Chi (right) shared: “I feel very happy to visit this garden. The first thing I felt was that it was very similar to the gardens described in the fairy tales I had read. I got to wear ao dai and take pictures with big, ripe yellow grapefruits, which made me feel like the Tet holiday is very close.”

@vtv.vn

International tourists’ searches for Vietnam tourism rank 6th globally

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According to Google’s market trend tracking tool, the search volume for international tourists interested in traveling to Vietnam in 2023 has experienced a growth rate exceeding 75%, ranking 6th globally.

The top 10 countries searching the most for tourism in Vietnam include the United States, Australia, Japan, India, South Korea, Singapore, the United Kingdom, Germany, Malaysia, and Thailand.

International tourists in Quang Nam. Photo: Minh Hai

Popular destinations in Vietnam that international tourists are actively searching for include Ho Chi Minh City, Hanoi, and two famous coastal spots, Da Nang and Phu Quoc. Following these are Hoi An, Nha Trang, Da Lat, Hue, and Phan Thiet.

Recently, international media and travel publications have frequently praised several attractive destinations in Vietnam, contributing to promoting the country’s beautiful image worldwide. Among them, Ha Long Bay is recognized as the most impressive spot for sunrise and sunset viewing (Travel+Leisure); Hanoi is acknowledged as the most beautiful destination in Southeast Asia (The Travel, Canada); Ha Giang is listed among the 52 fantastic destinations for travelers in 2023 (The New York Times, USA); Ninh Binh is considered one of the best destinations in 2023 (Forbes), and Sapa is recognized as one of the most beautiful small towns in the world (Condé Nast Traveler)…

According to forecasts from the World Tourism Organization (UNWTO) and the World Travel & Tourism Council (WTTC), international tourism activities are expected to fully recover by the end of 2024, reaching levels comparable to those in 2019. However, the recovery rate varies across regions. The changing preferences of international tourists demand higher quality products, diverse and unique experiences.

The number of international visitors to Vietnam is projected to equal that of 2019, while domestic tourism continues to grow at a slower pace. In 2024, the Vietnamese tourism industry aims to welcome 17-18 million international visitors and serve 110 million domestic tourists (including approximately 72.5 million overnight stays). The total revenue from tourism is expected to reach around VND 840 trillion.

@SGtiepthi

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