Vietnam Insider - Page 268 of 1530

Galaxy Z Flip5 reduces another 3 million VND in Vietnam

Advertisements

Currently, users can save on costs when purchasing the Galaxy Z Flip5 with the new reduced prices, starting from 16.69 million Vietnamese Dong, reduced by 2 to 3.1 million Dong depending on the model compared to September.

According to information from the Di Dong Viet website, Samsung’s comprehensive partner in Vietnam, the Galaxy Z Flip5 256 GB is currently being sold for 21.33 million Dong, a reduction of 4.66 million Dong from the listed price. The Galaxy Z Flip5 512 GB version is available for 25.21 million Dong, a reduction of 4.78 million Dong from the listed price.

Galaxy Z Flip5 256 GB price is 21.33 million VND

Meanwhile, the steepest reduction is seen in the Galaxy Z Flip5 256 GB electronic warranty (EW) version, priced at 16.69 million Dong, a reduction of 3.1 million Dong compared to September, bringing the total discount to 9.3 million Dong from the listed price. Similarly, the Galaxy Z Flip5 512 GB (EW) version is priced at 17.99 million Dong, reduced by 2 million Dong compared to September, bringing the total discount to 12 million Dong from the listed price.

At the current moment, the Galaxy Z Fold5 256 GB is also attracting a lot of user interest. This model is currently being sold for 35.88 million Dong, a reduction of 5.11 million Dong from the listed price. Similarly, the Galaxy Z Fold5 512 GB and 1 TB are priced at 39.76 million Dong and 46.55 million Dong, respectively.

With the EW version, the Galaxy Z Fold5 256 GB is available for 32.39 million Dong, a reduction of 12.6 million Dong from the listed price. These versions are still factory-sealed (unopened), and the online warranty activation is done a few days before.

According to Phung Phuong, the communications representative of Di Dong Viet, the prices of Samsung Z Flip5 and Samsung Z Fold5 have seen significant reductions in October. As this is the year-end season, the demand for phone purchases is high, and the price reduction aims to make Samsung’s folding flagship products more accessible to users. With these substantial price reductions, users looking to upgrade to a new phone won’t hesitate about the cost. This means that users can use a high-end flagship device and experience the features and performance they need at an affordable price,” Phương shared.

According to their records, after more than a month of sales, 60% of users purchased the Samsung Galaxy Z Fold5, while 40% chose the Galaxy Z Flip5.

@Thanhnien.vn

High-speed ferry company in Kien Giang faces profit decline as passengers complain about expensive Phu Quoc

Advertisements

High-speed ferry company Superdong – Kien Giang reports a sharp decline in profits due to a decrease in tourist arrivals to Phu Quoc.

Superdong – Kien Giang Joint Stock Company (stock code SKG) has just released its financial report for the third quarter of 2023, with a net revenue of VND 91.3 billion, a 21% decrease, and a post-tax profit of nearly VND 8 billion, a 42.3% decrease compared to the same period last year. According to the company’s explanation, there are two main reasons for the profit decline in the third quarter.

Firstly, information about tourism in Phu Quoc often involves high costs and price gouging, causing tourists to choose destinations with lower expenses.

The high-speed train company to Phu Quoc suffered a sharp decrease in profits because customers criticized Pearl Island as being expensive

Secondly, the weather in the third quarter of 2023 featured continuous heavy rainfall and storms, especially during the peak summer and September 2 holiday period. Superdong – Kien Giang had to suspend all routes, resulting in many canceled trips and stranded passengers on the islands. This has led to a fear of traveling during the rainy season among customers.

The explanatory document also highlights that, in light of these negative macroeconomic factors, the People’s Committee of Kien Giang Province held meetings with relevant departments and agencies to find solutions for the recovery of tourism in Phu Quoc. Furthermore, to minimize business risks, Superdong – Kien Giang has planned to reschedule its route operations to align with the current passenger volume in order to optimize costs. They are also implementing several commercial promotion programs to stimulate tourism demand.

Superdong – Kien Giang is a company that operates 16 high-speed ferries and two passenger ferries, transporting passengers, vehicles, and cargo from the mainland to Phu Quoc, Nam Du, Con Dao, and Phu Quy. It is one of the major players in sea transport to popular tourist destinations on the islands.

In total, after nine months, the company achieved a revenue of VND 340 billion, a slight 4% increase compared to the same period last year, equivalent to 71% of the annual plan. Post-tax profit reached over VND 76.5 billion, a 54% increase over the same period, surpassing the set target.

In 2023, Superdong – Kien Giang aims for a net revenue of nearly VND 478 billion and post-tax profit of over VND 72 billion, corresponding to a 17% and 67% increase, respectively, compared to the performance in 2022.

@Thanhnien.vn

Japan grants e-visas to Vietnamese tour groups starting November

Advertisements

The Consular Department of the Ministry of Foreign Affairs of Vietnam has issued an announcement regarding Japan’s issuance of electronic visas for Vietnamese citizens participating in package tours, through the Tourism Information Center.

Tourists in Kanazawa, Japan. Photo: Nguyen Van

Starting from November 1, 2023, the representative offices of Japan in Hanoi and Ho Chi Minh City will commence issuing electronic visas to Vietnamese citizens participating in package tours through designated travel companies or other appointed agencies.

This electronic visa (JAPAN eVISA) issued during this period allows a single entry into Japan, with a maximum stay of up to 90 days for tourism purposes. Traditional visas (stamped in passports) will still be processed and remain valid by Japanese representative agencies.

Regarding the verification and authentication of JAPAN eVISA, after approval, applicants will receive a visa issuance notification containing their name, nationality, gender, and some visa details, along with a QR code.

Vietnamese guests check-in in Japan. Photo: Nguyen Van

After scanning the QR code and entering the required authentication information, JAPAN eVISA will be displayed on the screen of an electronic device (smartphone, tablet) with a countdown timer (displayed in the upper-right corner of the electronic device screen) and detailed visa information.

According to the representatives of the Japanese Embassy in Hanoi, applicants must present their passport and display the JAPAN eVISA on an electronic device when undergoing the entry procedures into Japan. For cases involving elderly individuals, children, persons with disabilities, or special circumstances where they have been issued a JAPAN eVISA but do not have an electronic device, they can present the visa using the electronic devices of family members or traveling companions.

For participants in package tours, JAPAN eVISA can be presented on the electronic devices of the tour leaders.

@SGtiepthi

Over 6 million airline tickets released for Lunar New Year 2024

Advertisements

Vietnamese airlines, including Vietnam Airlines, Vietjet, Bamboo Airways, Pacific Airlines, and Vasco, are offering over 6 million tickets with a variety of options for passengers to meet their travel needs during the 2024 Lunar New Year.

Airlines open sale of more than 6 million air tickets for Lunar New Year 2024. Pictured is a corner of Tan Son Nhat airport. Photo: An Yen

During the 2024 Lunar New Year, Vietnamese airlines such as Vietnam Airlines, Vietjet, Bamboo Airways, Pacific Airlines, and Vasco are selling more than 6 million tickets to accommodate passenger demand.

In this regard, the Civil Aviation Authority of Vietnam has requested that Vietnamese airlines report on market demand and operational plans at airports and airfields during the peak period from January 25, 2024, to February 24, 2024, corresponding to the 15th day of the 12th lunar month to the 15th day of the 1st lunar month.

The entities are required to report plans to increase capacity on specific flight routes during the Tet peak period, including comparisons and evaluations with the same period during the 2023 Lunar New Year and any related recommendations for increasing capacity on these routes during this period.

Regarding the aviation sector, the Civil Aviation Authority has released information on on-time, delayed, and canceled flight statistics of Vietnamese airlines in the first nine months of 2023, as reported by TTXVN.

During this period, Vietnamese airlines conducted nearly 221,200 flights. Among them, the Vietnam Airlines Group (comprising Vietnam Airlines, Pacific Airlines, and Vasco) operated over 100,000 flights, accounting for approximately 45% of the market share; Vietjet Air had a 38% share, and Bamboo Airways had around 15% of the total number of flights.

In terms of delayed and canceled flights, domestic airlines reported more than 33,200 delayed flights, making up 15% of the total number of flights, and 715 canceled flights, accounting for a 0.3% ratio. Vietjet Air led in terms of delayed flights with 16,520 flights.

In contrast, during the first nine months of 2023, Vietnamese airlines operated 85% of their flights on time. Bamboo Airways, in particular, had an on-time departure rate of 92.4%, surpassing the industry’s average on-time departure rate of 85%.

@Thesaigontimes

Night tour with 3D mapping tech at Temple of Literature – Quoc Tu Giam awaits visitors

Advertisements

The space of the Temple of Literature – Quoc Tu Giam has been “transformed” by a system of lights and 3D Mapping technology, creating a new, dazzling, and mystical appearance in the upcoming “Essence of Scholarly Heritage” night tour to welcome visitors.

On the evening of October 22, the Cultural and Scientific Activities Center of the Temple of Literature – Quoc Tu Giam in Hanoi conducted a test run of the “Essence of Scholarly Heritage” night tour, revealing a space filled with light, sound, and a sense of pride. This night tour is scheduled to officially welcome guests at the end of October 2023.

The Temple of Literature – Quoc Tu Giam night tour is the fourth-night tour organized in Hanoi, following the night tours of the Hoa Lo Prison Historical Site, the Thang Long Imperial Citadel, and the Vietnam Museum of Literature.

The purpose of this tour is to promote the distinctive value of the scholarly heritage of the Special National Monument of the Temple of Literature – Quoc Tu Giam, attracting visitors to explore and experience the site at night and enriching Hanoi’s tourism offerings.

Thus, the Temple of Literature – Quoc Tu Giam night tour will offer visitors new and unique experiences compared to daytime visits. The entire historical site is “transformed” by a system of lights and 3D Mapping technology, creating a new, dazzling, and ethereal appearance, evoking various emotions.

The area of Khuê Văn Các will become a venue for traditional music performances. Particularly, in the Thái học area, there will be a 3D Mapping show with the theme “The Essence of Scholarship,” allowing visitors to explore the most refined values of Vietnamese scholarship.

During the test run, representatives of Hanoi’s travel companies praised the innovative presentation, the organization’s spatial layout, and their contributions to perfecting the “Essence of Scholarly Heritage” night tour.

@Vietnmanet

Attractive activities during Ba Ria – Vung Tau Tourism Week 2023

Advertisements

With the theme “LET’S GO!!! Ba Ria – Vung Tau,” the Ba Ria – Vung Tau Tourism Week 2023 is scheduled to be held from November 17 to 19 in the city of Vung Tau and Xuyen Moc district, as reported by the Government Electronic Newspaper.

Illustration photo: Thi Phong/Ba Ria – Vung Tau Newspaper

The Tourism Week aims to introduce, promote, stimulate tourism demand, and attract domestic and international tourists to Ba Ria – Vung Tau. It also seeks to enhance partnerships, cooperation, and tourism development with domestic and international entities.

The program provides an opportunity for travel businesses to explore, expand their market, and create linked travel tours to offer tourists. The main activities during the event include food and beer spaces, an OCOP (One Commune One Product) fair, check-in activities, sports events, performances, and tourism conferences.

The highlight of the program is the food and beer space and the OCOP fair, taking place from 9:00 to 23:00, from November 17 to 19 at Bai Sau in the city of Vung Tau. The food space is designed with 50 booths offering dishes from three regions of Vietnam, local specialties, and dishes from various countries for tourists. The OCOP fair features 50 booths showcasing destinations and OCOP products from provinces and cities across the country.

Visitors to Ba Ria – Vung Tau during this event can also enjoy various artistic activities and take part in sports activities such as friendly golf tournaments, the “Vung Tau Discovery night run 2023,” paramotor experiences, water sports, and kite festivals.

Tourists experience SUP rowing in Vung Tau. Photo: TL

Furthermore, during this period, Ba Ria – Vung Tau will host the semi-finals of the Miss Tourism Ambassador contest, taking place from 19:30 to 22:00 on November 18 at the central event stage at Bai Sau, with the theme “Promoting tourism” following the National Tourism Year activities.

This event is in response to the Ba Ria – Vung Tau Tourism Week 2023, while also promoting tourism in Ba Ria – Vung Tau province and contributing to the selection of Vietnam’s tourism ambassadors.

@SGtiepthi

The bodies of foreign flood victims of the flooding in Vietnam have been found

Advertisements

The bodies of two foreigners were discovered after being swept away by the flood in Lam Dong, as a result of heavy rainfall and strong currents.

As reported by Vietnam Insider, a car, carrying four foreign tourists and a driver, was visiting Cu Lan Village in Lac Duong district, Lam Dong when it got caught in swiftly flowing water. The vehicle flipped and was swept away by the water over a considerable distance.

At the time of the incident, there were four foreign tourists and a driver inside the vehicle. Promptly responding to the emergency, rescue teams were on the scene to implement support measures and search for potential flood victims.

Regrettably, the bodies of two individuals have been recovered, one person sustained injuries, and one person remains unaccounted for. Fortunately, the driver emerged unharmed and was transported to a medical facility for treatment.

Cu Lan Village is renowned as a picturesque hamlet nestled amidst the pristine woodlands at the base of Langbiang Mountain, an ecotourism haven within Lac Duong district, Lam Dong province. It holds an irresistible allure for both local and international tourists.

Originally established in the 1960s, Cu Lan village encompasses approximately 30 hectares and is inhabited by the K’Ho ethnic group. This village’s unique charm lies in its untamed and serene landscape, deeply rooted in indigenous culture.

Everything to know about Work Permit Requirements for Foreign English Teachers in Vietnam

Advertisements

A reader of Vietnam Insider has inquired about an English center with a foreign applicant seeking a position as an English teacher. The applicant has submitted the following documents with their application: a temporary university graduation certificate and transcript, a 120-hour Teaching English as a Language (TEFL) certificate, and an EFSET C2 certificate. The question raised is whether this foreigner is eligible for a work permit.

In response to this query, the Ministry of Labor, War Invalids, and Social Affairs provides the following information:

According to Article 9 of Decree No. 152/2020/ND-CP, issued by the Government on December 30, 2020, which regulates the employment of foreign workers in Vietnam and the recruitment and management of Vietnamese workers working for foreign organizations and individuals in Vietnam, as well as Decision No. 526/QD-LDTBXH dated May 6, 2021, by the Minister of Labor which announces newly issued and amended administrative procedures, changing and supplementing employment fields under the Ministry’s jurisdiction, the application documents required for obtaining work permits for foreigners consist of the following:

A written request for a work permit using the prescribed form.
An original or certified copy of a health certificate that is valid for 12 months.
One original or certified copy of a criminal record certificate or a document attesting that the applicant is not currently serving a sentence, does not have a criminal record, or is not undergoing prosecution for criminal liability.
One original or certified copy of documents and papers that demonstrate the applicant’s role as a manager, executive director, expert, technical worker, or other specified professions.
Two color photographs, 4×6 cm in size, with a white background, taken within the last six months.
One original or certified copy of the document approving the necessity to employ foreign workers, except in cases where labor is not required.
A certified copy of a valid passport.
One original or certified copy of other documents related to foreign workers that prove their eligibility to work within the enterprise, engage in contracts or agreements related to economics, trade, finance, banking, insurance, and so forth, or work for foreign non-governmental organizations, international organizations, as managers, executives, experts, or technical workers.

It’s essential to note that documents issued by foreign agencies, organizations, and businesses must undergo consular legalization (except in exempt cases) and be translated into Vietnamese with proper authentication.

In consideration of the aforementioned regulations, in the case you have described, there are currently insufficient documents to support the application for a work permit for foreign workers.

Should you need any support, please contact Sophie Dao, Senior Partner at Global Business Services LLC in Vietnam via phone number: +84903189033 or email: sophie@gbs.com.vn. You can also visit the company website at: https://gbs.com.vn

Foreign Tourists Swept Away by Floods While Exploring A Vietnamese Ecotourism Haven

Advertisements

In a distressing turn of events, a group of foreign tourists was caught in a flood while embarking on an adventure in Cu Lan village, situated in Lam Dong province. Local media has reported this harrowing incident.

On the afternoon of October 24, the leader of the People’s Committee of Lat commune, within the Lac Duong district of Lam Dong province, disclosed that efforts were underway to locate the missing tourists who were swept away by floodwaters earlier that day in Cu Lan village.

Preliminary details suggest that on October 24 at noon, a group of tourists, which included foreigners, was partaking in a guided tour of Cu Lan village, located within the Lat commune of Lac Duong district. Unexpectedly, a surge of floodwaters surged through the area, resulting in the group’s perilous predicament. One individual was fortunate enough to escape, while the remainder are currently unaccounted for.

Search and rescue teams are actively engaged in locating the missing individuals.

A Remarkable Phenomenon: The Birth of Blanche, a Rare White Sea Turtle, at Six Senses Con Dao

Advertisements

In a truly extraordinary occurrence, the marine world’s breathtaking marvel unfolded before the eyes of guests and residents at Six Senses Con Dao.

Nestled within the resort’s in-house incubation center, a momentous event took place: the hatching of an incredibly unique white sea turtle. Blanche, a Chelonia Mydas turtle, commonly known as a green sea turtle, made her entrance into the world with a genetic condition known as leucism. This condition results in minimal melanin pigment in Blanche’s skin and shell, which is responsible for determining the color of skin, hair, and eyes in both people and animals.

Although there are no precise statistics on the prevalence of leucism in sea turtles, it is widely recognized that leucistic hatchlings are exceedingly rare. Some marine biologists estimate that leucistic hatchlings account for only one in many hundreds of thousands of sea turtle eggs laid.

In normal circumstances, sea turtle hatchlings confront a multitude of challenges. Once they hatch, these tiny sea turtles must embark on a perilous journey across the beach to reach the safety of the ocean, evading threats like crabs and birds. They then face the daunting task of outswimming various fish and marine predators who see them as a potential meal. Tragically, one of the most significant threats to sea turtle populations worldwide is human activity, including poaching, pollution, fishing, and the destruction of their natural habitats.

For Blanche, the challenges are even more formidable. In addition to the usual hurdles, Blanche’s leucism has stripped her of the natural camouflage that helps other sea turtles blend into their environment. This makes her exceptionally visible to predators, particularly underwater. Leucistic hatchlings like Blanche also often suffer from various malformations, including limited sight.

Blanche, a rare and breathtaking sea turtle, stands as a symbol of hope. We fervently wish for her to defy the odds and return to the sea, where she can live a long and joyful life.

Situated along a 2-kilometer stretch of golden sandy bay, Six Senses Con Dao boasts breathtaking views of the sapphire blue ocean and is nestled within a lush forest. Acknowledging the resort’s opulent amenities, exceptional services, and unwavering commitment to sustainability, Six Senses Con Dao has earned recognition as a world-class property. In 2022, it was named the “Number 1 Resort in Southeast Asia” by Travel + Leisure and the “Number 15 Resort in Asia” by Conde Nast Traveller. In 2023, it was one of only four Vietnamese properties listed among the “Best Hotels in the World” by Travel + Leisure and was lauded as a top ecolodge by National Geographic.

Friend.Tech User Dumps Keys Worth $1.5M, Switches to Bitcoin App

Advertisements

Newer opportunities have stalled Friend.Tech’s initial growth wave, and applications such as New Bitcoin City are quickly emerging as one of the biggest bets.

A popular Friend.Tech user dumped 850 ether (ETH) worth of keys late on Monday before apparently switching over to New Bitcoin City, a similar social app built on Bitcoin.

X user @Vombatus_eth, who goes by the same name on Friend.Tech, pocketed some $1.5 million after selling 176 keys, wallet data shows. Vombatus, who was one of the biggest key holders on the platform, continues to hold 150 keys.

Friend.Tech, lets X (formerly Twitter) personalities issue ‘keys’ on its app for access to a closed group chat and was one of the fastest-growing crypto platforms shortly after its August launch. It attracted millions of dollars in revenues from over 100,000 users in under three weeks after going live – spurring clones on other networks.

Newer opportunities have stalled Friend.Tech’s initial growth wave and applications, such as New Bitcoin City, are quickly emerging as one of the biggest bets. Users such as Vombatus are drawing their followers to the platform – helping it break through $3 million in locked value on Monday.

New Bitcoin City, which went live in early August as a gaming and arcade platform on Bitcoin, released its social application in late September, targeting the social application market.

Developer @punk3700 previously told CoinDesk that bitcoin’s usage in DeFi applications has so far been limited to tokenized representations of bitcoin on other chains, such as Ethereum or Solana, but that the New Bitcoin City believed a gap remained for wealthy bitcoin holders to use their assets on interactive applications.

The introduction of “Bitcoin Request for Comment” (BRC-20) standards earlier this year allowed developers to issue tokens and build DeFi applications on Bitcoin.

New Bitcoin City’s appeal comes at a time when bitcoin prices are on an uptrend, jumping some 20% in the past week on hopes of a [possible spot bitcoin exchange-traded fund (ETF) approval in the U.S., which traders say may drive demand for the asset.

Bitcoin Bears Lose $178M as Prices Break Past $34K

Advertisements

Traders on crypto exchanges Binance, Huobi and OKX were hit for $50 million each, suggesting a large amount of leverage used on those platforms.

Bearish bets on bitcoin (BTC) have cost traders over $178 million in the past 24 hours as prices soared past a critical resistance level. The jump in bitcoin prices came as a ticker registration bumped hopes of an oncoming spot bitcoin exchange-traded fund (ETF) approval.

Data shows bitcoin-tracked futures accounted for nearly 50% of the total $400 million in crypto liquidations over Monday, with ether futures only seeing $50 million in liquidations over long and short positions.

Liquidation occurs when an exchange forcibly closes a trader’s leveraged position due to a partial or total loss of the initial margin. It happens when a trader cannot meet the margin requirements for a leveraged position (fails to have sufficient funds to keep the trade open).

Crypto exchanges Binance, Huobi and OKX saw liquidations worth $50 million each, suggesting a large amount of leverage used on those platforms. The largest single liquidation order occurred on Binance, with an order value of $10 million.

Bitcoin prices spiked 12%, surging to a high of $35,200 before retreating on Tuesday morning. The huge move was likely driven by relatively lower volumes and outsized demand – adding tens of billions of dollars to market capitalization in a few hours.

Crypto communities and analysts attributed the move to the ticker registration of Blackrock’s spot bitcoin ETF – which remains under consideration with the U.S. Securities and Exchange Commission (SEC).

Such expectations have boosted hopes of a bullish revival of the crypto market, which has been in a general lull over the past several months.

“Bitcoin has also been encouraged by possible ETF approval and an increasing number of ETF submissions by leading companies,” shared Lucy Hu, senior trader at Metalpha, in a message last week. “(With the) Bitcoin ETF approval and halving event in April, the crypto market could kickstart a very robust bull market,” Hu added.

MSB Reports Strong 9-Month Performance, Exceeding Profit Targets and Focusing on Digital Transformation

Advertisements

After 9 months, Vietnam Maritime Bank (HoSE: MSB) achieved 83% of its annual profit target, with its service segment growing by 54%.

Total assets and credit growth of MSB both increased by 17% in the first 9 months of this year, while capital mobilization also saw a strong 11% increase, with CASA showing a good recovery after 2 challenging quarters.

MSB has recently announced its business results for the first 9 months of the year, with a profit reaching 83% of the annual plan. This profit level increased by 8.3% compared to the same period last year.

Positive performance across business segments

At the end of the 9-month period, the bank’s total operating income (TOI) reached VND 9,567 billion, a 19% increase compared to the same period in 2022. Net interest income exceeded VND 6,800 billion, marking a 9% increase compared to the first 9 months of the previous year. By emphasizing non-credit operations to offset market impacts on credit, the ratio of non-interest income to total income reached nearly 29%, a more than 6% increase from the same period.

Pure income from service operations reached VND 1,315 billion, a 54% increase compared to the same period in 2022, with payment services contributing 43% of the total service fee revenue. This growth is a result of MSB’s digital transformation efforts aimed at enhancing the customer experience.

Net income from foreign exchange operations reached nearly VND 1,031 billion, a 16% increase compared to the same period last year, continuing to leverage MSB’s pioneering position in this field. Due to higher revenue compared to the 8% increase in operating costs, as of September 30, the cost-to-income ratio (CIR) stood at 31.6%, lower than the 34.8% from the previous year. This demonstrates the effectiveness of the digital transformation process and cost management strategy. Based on the smooth coordination between cost management and profitability enhancement, MSB’s consolidated pre-tax profit for the first 9 months reached VND 5,223 billion, equivalent to 83% of the annual plan.

Strong growth in assets, capital mobilization, and credit, with high safety indicators

The bank’s total assets as of September 30 reached over VND 249,000 billion, a 17% increase compared to the end of 2022. Total customer credit reached nearly VND 141,244 billion, a 17% increase compared to the beginning of the year, surpassing the industry’s average growth rate. This growth was concentrated in stable sectors such as light industry and consumer goods.

Customer deposits reached VND 129,618 billion, an 11% increase compared to the end of the previous year. The ratio of non-term deposits to total deposits (CASA) reached 27.71%, indicating a recovery after 2 quarters of fluctuations, driven by changes in deposit interest rates and the effective implementation of highly digital products that meet customer preferences.

In the third quarter of 2023, in response to the State Bank of Vietnam’s direction, MSB reduced interest rates for customer loans three times. Although this directly impacted the bank’s net interest margin (NIM), MSB still maintained a NIM of 4.11%, only a slight decrease compared to 2022.

At the end of the third quarter, the non-performing loan ratio (NPL) was at 1.7% before the Credit Information Center (CIC) and 1.96% after CIC (according to Circular 02 of the State Bank of Vietnam). This reflects the bank’s efforts in controlling bad debt to strengthen its financial position against market impacts.

In terms of capital and liquidity, MSB also achieved positive results. The bank maintained ample liquidity, with a loan-to-deposit ratio (LDR) of 68.6% and a short-term capital ratio for medium and long-term loans (MTLT) of 29.18%, both well below the State Bank of Vietnam’s requirements. Affirming its strong and efficient capital position, MSB’s consolidated capital adequacy ratio (CAR) remained stable at 12.6%.

Saudi Arabia proposes to issue electronic visas to Vietnamese tourists

Advertisements

Recently, during Prime Minister Pham Minh Chinh’s official visit to Saudi Arabia, the Ministry of Culture, Sports and Tourism of Vietnam and the Ministry of Tourism of Saudi Arabia signed an “Action Program in the Field of Tourism”. The program aims to promote tourism cooperation between the two countries in a substantive, positive, and effective manner commensurate with their available potential. It proposes measures such as increasing the exchange and sharing of information, experience, and statistics on the Halal market, tourist needs, development and training of tourism human resources, organizing joint tourism promotion events, and looking for tourism investment opportunities between the two countries.

The signing of the “Action Program in the field of tourism” between the Ministry of Culture, Sports and Tourism of Vietnam and the Ministry of Tourism of Saudi Arabia.

After meeting with Minister Ahmed A. Al-Khateeb in Vietnam, the Minister of Culture, Sports, and Tourism proactively worked with significant Vietnamese travel and tourism corporations to research and plan to build tourism products targeting Saudi Arabian tourists. He also proposed that Saudi Arabia support Vietnam in learning about tourist tastes and the Halal market, building standards and regulations on Halal tourism, through technology transfer, introducing famous Saudi brands to invest and operate in Vietnam in the field of accommodation facilities, and tourism investment.

Princess Haifa bint Mohammed Al-Saud, Deputy Minister of Tourism of Saudi Arabia, highly appreciated the proposals of Minister Nguyen Van Hung. She affirmed that Vietnam and Saudi Arabia share the same direction and are determined to promote tourism cooperation between the two countries. Saudi Arabia is considering issuing electronic visas to tourists from Vietnam. The Saudi Arabian Ministry of Tourism will work with domestic travel and tourism companies to research and develop product packages that suit the tastes of Vietnamese tourists. The Princess also said that with the desire to promote tourism exchanges with Vietnam via air soon, Saudi Arabia hopes to establish a direct flight between the two countries. Vietnam Airlines and Saudi Arabian Airlines will deploy flights with the same code, thereby opening direct flights between the two countries.

Regarding visas for people of the two countries, Saudi Arabia has sent Vietnamese authorities a Draft Visa Exemption Agreement for holders of diplomatic and official passports.

Binh Thuan: Opening of the Kite Festival, setting the Guinness record for the largest kite in Vietnam

Advertisements

The Kite Festival is part of a series of activities that are part of the response to the 2023 National Tourism Year “Binh Thuan – Green Convergence” initiative. The festival took place on October 22 at the Bau Trang U&Me tourist area in the Hoa Thang commune, Bac Binh district, Binh Thuan province. The festival had the theme of “Give wings to dreams” and not only attracted local people but also many tourists from all over the country who gathered to enjoy the Kite Festival. The festival also set a record for the largest kite in Vietnam and featured a supercar parade.

The festival includes a parade of 50 supercars.

Supercars and professional drivers performed car drifting, receiving excited admiration from viewers.

After the opening ceremony, hundreds of kites of different sizes flew and showed off their colors on the sand dunes of Hong Lam village. The highlight of the festival was the kite with a total area of about 900m2, with more than 20 people participating in flying it.

The kite with an area of nearly 900m2 is recognized by the Vietnam Record Holders Association – Vietnam Records Organization – VietKings as the largest kite in Vietnam.

The Kite Festival is one of the local activities aimed at promoting the establishment of the Binh Thuan Kite Federation to create a healthy playground for all subjects to practice sports, improve health, and entertain tourism. The event will continue until October 29 and is organized by the Department of Culture, Sports, and Tourism in coordination with relevant units.

Large kites are flown by kite teams in the sky. Photo: Duy Tuan

In the first 9 months of 2023, the entire Binh Thuan province welcomed more than 6.9 million visitors, reaching approximately 104% of the 2023 plan. Of these visitors, there were more than 200,000 international visitors, an increase of nearly 4 times compared to the same period last year. Revenue from tourism activities in the province reached more than 17,675 billion VND, nearly doubling over the same period last year and reaching 107.13% of the plan.

@vtv.vn