Ho Chi Minh City, May 9 – A Vietjet Air flight (VJ1149) traveling from Hanoi to Ho Chi Minh City encountered a technical incident during landing at Tan Son Nhat International Airport on the evening of May 7, authorities confirmed today. All passengers and crew members are safe, with no injuries reported.
The Civil Aviation Authority of Vietnam (CAAV) announced on May 9 that it has requested a full report from Vietjet and dispatched an investigation team to determine the cause of the incident.
According to initial findings, the aircraft faced strong crosswinds and adverse weather conditions, including heavy rain and thunderstorms, during its descent. Air traffic controllers observed that the plane landed under challenging circumstances. Post-flight inspections by technicians revealed damage to the aircraft’s landing gear, including tire cracks and grass debris, along with impacts to runway lighting equipment.
Despite the sudden wind shifts, the flight crew responded promptly and in accordance with safety protocols, successfully landing the aircraft and safely disembarking all passengers.
Vietjet released an official statement today, confirming that the landing was executed according to procedure under the guidance of the experienced flight crew. The airline emphasized that the aircraft was promptly inspected and normal airport operations were not disrupted.
The carrier is cooperating with aviation authorities to identify the root cause of the incident and ensure continued adherence to safety standards.
This incident highlights the critical importance of pilot training and preparedness in responding to unpredictable weather conditions during flight operations. Further updates will be provided as the investigation progresses.
Once hailed as Vietnam’s next tech unicorn, Tiki—the homegrown e-commerce startup—has experienced one of the most dramatic valuation collapses in the country’s digital economy. After 15 years of operation, the company’s valuation has now reportedly fallen to under $10 million, a staggering drop from its near $1 billion peak and IPO ambitions just a few years ago.
Humble Beginnings and Early Momentum
Founded in 2010 by Tran Ngoc Thai Son with a modest $5,000 investment, Tiki started in a small rented room in Ho Chi Minh City. The platform initially focused on selling English-language books, serving a niche community of students and young professionals seeking access to foreign titles. With a strong emphasis on authentic products, fast delivery, and reliable customer service, Tiki quickly built a loyal user base.
Its name—“Tiki”, short for “Tìm kiếm” (Search) and “Tiết kiệm” (Save)—reflected its ambition to offer trustworthy retail services at affordable prices. The company gradually expanded into electronics, home appliances, beauty, fashion, and mother & baby products, while also investing heavily in logistics and technology infrastructure.
The Golden Era: Big Capital, Bigger Dreams
Between 2014 and 2019, Tiki attracted investment from major global players including CyberAgent Ventures, Sumitomo Corporation, and JD.com. The high point came in 2021, when Tiki raised $258 million in a Series E funding round, backed by heavyweight investors such as AIA, UBS, Mirae Asset, and Shinhan Financial Group. Its valuation at the time approached $1 billion, and the company even announced plans for an IPO in the U.S., signaling its ambition to compete globally.
By mid-2021, Tiki was among the top three e-commerce platforms in Vietnam, alongside Shopee and Lazada, boasting over 800,000 active customers and a catalog of more than 120,000 products.
A Market That Moved On Without Tiki
However, the landscape began to shift rapidly post-2021. The e-commerce race evolved beyond product variety and logistics—it became a battle of content, entertainment, and engagement. Platforms like TikTok Shop disrupted the industry with short-form videos and livestream shopping, while Shopee doubled down on personalized tech and influencer marketing.
Tiki, by contrast, was slow to adapt. It lacked robust content tools, failed to capture the emerging trend of social commerce, and struggled to maintain user engagement.
As rivals surged ahead, Tiki’s market share steadily eroded. According to YouNet ECI, Tiki’s gross merchandise value (GMV) in Q1 2025 plummeted 57% year-on-year. Even Tiki’s strongest categories—mother & baby, tech, and electronics—saw sharp declines of 29.3%, 24.2%, and a shocking 69.9%, respectively.
By the end of 2024, Tiki’s market share had dropped to a mere 0.9%, dwarfed by Shopee (66.7%), TikTok Shop (26.9%), and Lazada (5.5%). In Q1 2025, its decline worsened, with sales dropping 66.6%, the steepest fall among all major platforms, according to Metric. Tiki’s share became so small it was no longer visible on market distribution charts.
A Harsh Contrast Amid Market Boom
Ironically, Tiki’s downfall has occurred while Vietnam’s e-commerce market is booming. In Q1 2025 alone, total market sales reached VND 101.4 trillion (up 42.29% YoY) with 950.7 million products sold (up 24%). Tiki’s failure to align with new consumer demands—particularly in content-driven and personalized shopping experiences—has left it behind in a market it once helped shape.
Tiki’s journey from a promising startup to a struggling player highlights the brutal pace of digital innovation—and the importance of adaptability in tech. Once a symbol of Vietnam’s startup potential, Tiki’s story now serves as a cautionary tale for those who fail to evolve with their audience.
Moscow, May 9 (Vietnam Insider) – Vietnam’s military took part in Russia’s Victory Day parade today, underscoring the enduring defense relationship between Hanoi and Moscow. The event commemorates the 80th anniversary of the Soviet Red Army’s victory over Nazi Germany in World War II.
Held annually on Moscow’s Red Square, the parade featured Russian troops and military units from 13 friendly nations, including Vietnam, reflecting deepening international military cooperation amid shifting global alliances.
Vietnam’s delegation consisted of 68 officers and soldiers from the Vietnam People’s Army, specifically from the First Army Officer School. They marched eighth in the formation lineup, representing Vietnam’s longstanding military partnership with Russia.
The presence of Vietnam’s military contingent at such a high-profile event highlights not only historical ties—dating back to the Soviet Union’s support during Vietnam’s resistance wars—but also the strategic defense cooperation that continues today in training, technology, and arms procurement.
In a show of diplomatic significance, General Secretary of the Communist Party of Vietnam Tô Lâm and his spouse also arrived in Moscow on May 8 for an official state visit at the invitation of Russian President Vladimir Putin. His visit, running through May 11, includes participation in the Victory Day commemorations and high-level meetings aimed at enhancing bilateral ties.
This year’s parade occurs against the backdrop of growing global tensions and provides a stage for Russia to display both its military might and the loyalty of longstanding allies.
Vatican City – History was made at the Vatican this week as Cardinal Robert Francis Prevost, a Chicago-born missionary and former bishop in Peru, was elected the 267th pope of the Roman Catholic Church, taking the name Pope Leo XIV.
The announcement came as French Cardinal Dominique Mamberti addressed a packed St. Peter’s Square with the iconic Latin phrase “Habemus Papam” — “We have a Pope” — just over an hour after white smoke billowed from the Sistine Chapel chimney, signaling a successful vote by the conclave of cardinals.
A Historic Choice
Pope Leo XIV is the first pope from the United States, and only the second from the Americas, following Pope Francis of Argentina, who passed away on April 21. At 69, Leo XIV brings with him decades of experience in pastoral leadership, notably serving in Peru, where he became known for his missionary work and ability to build bridges between communities.
His election was swift — completed in less than two days — a sign of strong consensus among the 135 cardinal-electors. His selection reflects a desire among Church leaders for stability, continuity, and balance amid an era of reform and debate within the Catholic Church.
A Symbolic Name and Style
Choosing the name Leo — historically associated with strength and crisis leadership — may offer insight into how the new pope views the future. Past popes named Leo, such as Leo I, are remembered for defending the faith during challenging times. Pope Leo XIV’s attire, including the traditional red ermine-trimmed cape that Pope Francis famously declined, suggests he may embrace a blend of tradition and renewal in his papacy.
Still, Leo XIV paid warm tribute to his predecessor, saying: “May we all build bridges with dialogue. Thank you, Pope Francis.”
A Message of Peace and Unity
Standing on the central balcony of St. Peter’s Basilica, Leo XIV addressed the crowd in Italian and Spanish, expressing a message of peace, inclusion, and gratitude.
“To all people, wherever they are, to all the people of the earth, may peace be with you,” he said, his voice echoing over a jubilant crowd waving flags from every continent.
He concluded his appearance with the traditional “Urbi et Orbi” blessing, a solemn message to the city of Rome and to the world, marking the official beginning of his papal ministry.
Conclave Picks Robert Prevost, Who Will Be Pope Leo
A Pope for a Changing Church
Pope Leo XIV is widely seen as a moderate pragmatist and a natural continuation of Pope Francis’ progressive, yet pastoral, approach. His appointment is seen as a vote for steady leadership amid internal Church debates over doctrine, tradition, and inclusivity.
While his red papal cape nods to tradition, his values appear rooted in the Francis-era commitment to synodality — a term used to describe broad, consultative dialogue across the Church hierarchy.
Leo XIV’s American background and global ministry experience also position him to be a unique bridge between the Vatican and an increasingly interconnected Catholic world, including fast-growing communities in Asia, Africa, and Latin America.
Global Reactions
From Vatican Square to Washington, D.C., the announcement was met with enthusiasm. U.S. President Donald Trump, who attended Pope Francis’ funeral, posted: “What excitement, and what a Great Honor for our country. I look forward to meeting Pope Leo XIV. It will be a very meaningful moment.”
In Peru, where Prevost spent much of his ministry, communities have responded with pride at his elevation to the papacy. During his speech, Leo XIV personally thanked his diocese there in Spanish.
What’s Next
Pope Leo XIV will return to the balcony in the coming days for his formal papal inauguration, an event expected to draw tens of thousands of pilgrims from around the world. As the Church navigates modern challenges — from global conflict to internal reform — many Catholics are watching closely to see how the new pontiff will steer the Church through a new chapter.
Vietnam Insider will continue to provide updates on the inauguration and the early days of Pope Leo XIV’s papacy. Stay tuned.
Hanoi, May 9 – Northern and Central Vietnam are enduring the final day of an intense heatwave, with temperatures soaring across several regions, according to the latest forecast by the National Center for Hydro-Meteorological Forecasting.
In Northeastern Vietnam (excluding Quang Ninh and Hai Phong), daytime highs are expected to reach 35–37°C, with some areas likely to exceed 37°C.
More extreme conditions are forecast for Northwestern Vietnam and provinces from Thanh Hoa to Phu Yen, where temperatures will rise to 36–38°C. Particularly severe heat, with temperatures above 39°C, is expected in parts of Hoa Binh, Son La, and mountainous areas of Nghe An.
However, a shift in weather is expected starting tonight, as a cool air mass pushes a low-pressure trough across Northern Vietnam. This will bring widespread thunderstorms, with heavy to very heavy rainfall forecast for Friday, especially in midland and Red River Delta provinces. Some areas may see rainfall totals exceeding 150mm.
In North Central Vietnam, rain and thunderstorms are expected to begin Friday and continue through Sunday, with moderate to heavy rain, and localized rainfall of over 150mm in some areas.
Residents are advised to be cautious of strong winds, lightning, hail, and localized flooding in low-lying areas. Flash floods and landslides remain a risk in mountainous regions during this period.
Meanwhile, in the Central Highlands and Southern Vietnam, sunshine will persist through midday, with several parts of the south experiencing heatwaves of 35–37°C. However, afternoon and evening thunderstorms are forecast, potentially bringing heavy downpours, gusty winds, and flash floods in urban and low-lying areas.
Authorities recommend staying updated with official weather alerts and taking precautions against heat-related illnesses, flooding, and severe weather hazards.
In this week’s installment of “Migrant Man Yells at Cloud”, I find myself once again wading through the digital quagmire that is Hanoi’s online discourse—specifically the toxicity that festers in so-called “expat” groups.
After several days spent slogging through social media threads that swing between high drama and low empathy, I couldn’t help but speak up. Sure, I mostly lurk behind anonymity these days—hazards of the writing profession—but enough is enough.
What’s caught my eye isn’t just the drama itself. It’s the glee with which people pick up their digital pitchforks. The comment sections of Hanoi’s groups often resemble an online witch-hunt, with mobs gleefully piling on—motivated less by justice, more by boredom or petty grievances. It’s the virtual version of a torch-lit march, minus the accountability.
Case in point: Shay FC.
For the uninitiated, Shay’s a one-man fried chicken operation that’s been feeding Hanoi’s hungry masses for years. I’ve ordered from him a few times—always professional, always pleasant. This week? He became the target of online outrage for the heinous offense of, checks notes, being Israeli.
Let me be clear: I don’t usually veer into politics here, and my sympathies lie with the oppressed. But unless something has drastically changed, nationality alone isn’t a valid reason for character assassination. This is a man selling wings and mashed potatoes—not launching missiles. Using geopolitics to torpedo someone’s small business? It’s not activism. It’s embarrassing.
Then came “Air Con Gate.”
A Grab driver filmed a café owner shutting the door on him after being told to wait outside. Suddenly, Hanoi’s digital kangaroo court was in session. Calls for boycotts flooded in. Facts? Optional. Did anyone pause to ask what actually happened? Delivery drivers do vital work, no doubt—but are they entitled to linger in customer areas if it disrupts business operations? Maybe yes. Maybe no. But five identical posts of the same 30-second clip? Sounds less like community concern and more like a personal vendetta in disguise.
And don’t even get me started on the influencers.
They march into cafés, order a single latte, whip out ring lights, and transform a quiet spot into a makeshift film studio. Then they expect gratitude for the “free PR.” Look, if your 20k followers bring in a stampede of selfie-obsessed guests who disrupt regular customers, maybe you’re not doing the café any favors. You’re not Beyoncé. You’re not even a traffic cone with Wi-Fi.
What’s missing here is a basic understanding of how hard it is to run a business in Hanoi’s brutal F&B scene. A single negative post—true or not—can derail a hard-working team’s efforts. And while everyone’s quick to shout online, praise comes in whispers, if at all. It’s a toxic cycle: outrage breeds engagement, and businesses pay the price.
At the end of the day?
Hanoi doesn’t need more outrage. It needs more empathy. Less mob justice, more manners. And a little common sense wouldn’t hurt, either.
Ho Chi Minh City, Vietnam – A recent government survey has revealed that nearly 31% of public school teachers in Ho Chi Minh City have English proficiency below the intermediate level, raising concerns about the readiness of Vietnam’s education sector as it moves toward bilingual instruction and global integration.
The study, conducted by the city’s Department of Education and Training, assessed nearly 50,000 teachers across the public school system, including 4,700 English teachers. It found that only 41% of surveyed teachers reached the B1 level on the Common European Framework of Reference for Languages (CEFR), the minimum standard required for university graduates under Vietnam’s 2020 Education Law. Another 28% reached B2 level, while 31% fell below the B1 benchmark.
English Skills Lag Behind Educational Reform Goals
The six-level CEFR framework ranges from A1 (Beginner) to C2 (Proficient). B1, defined as “intermediate,” indicates a person can manage everyday situations and basic conversations, especially in travel or work-related contexts. Falling below this level suggests a lack of independence in using English in practical scenarios.
The city’s education authority emphasized that the survey was not conducted for ranking or salary purposes, but to gain an accurate overview of the teaching workforce’s language proficiency. The results will be used to design future training and policy interventions aligned with the government’s broader education reform roadmap, which includes the ambition to gradually make English a second language in Vietnamese schools.
Breakdown by School Level and Subject Area
The survey revealed relatively consistent proficiency levels across school types:
Elementary and Secondary Schools: Around 30–33% of teachers scored below B1, 38–43% were at B1, and 27–29% reached B2 or higher.
High Schools: A smaller proportion (30%) fell below B1, while 45% achieved B2 or C1. Notably, no high school teacher reached C2 level—the highest on the CEFR scale.
Significant disparities also emerged between English teachers and those teaching other subjects:
English Teachers: 8% achieved C2, and 45% reached C1.
Among Non-English Teachers: None attained C2, and only 2% were at C1, indicating a major skills gap.
Data Classification for Accuracy
To ensure reliability, the Department of Education and Training grouped the data into three categories—reliable, moderately reliable, and data lacking sufficient information—based on the consistency between teachers’ self-assessments and test results. The most dependable results showed a more concerning picture, with 31% scoring below B1 and just 28% reaching B2.
The test itself was administered online over 90 minutes and measured listening, reading, and writing skills, using materials developed by the University of Cambridge English Testing Council.
Next Steps: Training, Self-Study, and Overseas Study
Nguyen Van Hieu, Director of the Ho Chi Minh City Department of Education and Training, stated that the results would be used to guide upskilling initiatives for teachers. Those needing improvement can select appropriate training formats or self-study methods. Meanwhile, teachers with strong English proficiency and a desire to teach subjects in English may be offered opportunities to study abroad.
The survey marks an important first step in addressing language barriers within Vietnam’s public education system and aligns with national goals to better equip the country’s youth for a globally competitive environment.
Vietnam’s tourism sector has experienced a robust start in 2025, welcoming over 7.67 million international visitors between January and April, marking a 23.8% increase compared to the same period in 2024 .
Top Source Markets
China led the influx with approximately 1.95 million arrivals, accounting for 25.4% of total international visitors. South Korea followed with 1.58 million arrivals (20.6%), while other significant markets included Taiwan (440,000), the United States (323,000), and Japan (280,000). Notably, arrivals from China surged by 56.7% year-on-year, and Japan saw an 18.9% increase .
European Market Growth
European countries benefiting from Vietnam’s unilateral visa exemption policy showed steady growth. The UK experienced a 20.7% rise in visitors, France 24.7%, Germany 18.8%, Italy 32.6%, and Spain 12.9%. Russia recorded a remarkable 110.9% increase, becoming the largest European source market with over 166,000 arrivals during the four-month period .
Transportation Modes
Air travel remained the predominant mode of entry, with 6.59 million visitors arriving by air, representing 85.9% of the total and a 27.0% year-on-year increase. Land arrivals accounted for 924,900 visitors (12.0%), up 7.9%, while sea arrivals totaled 158,300 (2.1%), reflecting a 4.5% rise .
Strategic Initiatives
The Vietnam National Authority of Tourism plans to implement seven major international promotional campaigns in 2025, aiming to attract between 22 and 23 million international arrivals this year . These efforts are part of a broader strategy to position Vietnam as a leading global tourism destination.
With sustained growth and strategic initiatives, Vietnam’s tourism industry is poised for a strong performance in 2025.
Vietjet and Qazaq Air Launch Joint Airline Brand ‘Vietjet Qazaqstan’ at Kazakhstan–Vietnam Business Roundtable
Astana, Kazakhstan – Vietjet and Kazakhstan’s Qazaq Air officially announced the launch of a new joint airline brand, Vietjet Qazaqstan, during the Kazakhstan–Vietnam Business Roundtable on Tuesday. The high-level event was held in the presence of Vietnamese Party General Secretary To Lam, who is currently on a state visit to Kazakhstan.
As part of the announcement, Vietnam’s Ministry of Finance granted a Foreign Investment Registration Certificate to Aviation Holdings, a Vietjet subsidiary, allowing it to acquire a strategic equity stake in Qazaq Air. The two carriers will jointly develop and operate Vietjet Qazaqstan, leveraging Qazaq Air’s existing domestic platform and Vietjet’s low-cost carrier expertise.
Vietjet Qazaqstan is expected to become a strategic air bridge linking Kazakhstan with Vietnam, Southeast Asia, and key global aviation hubs. With a planned fleet of at least 20 Boeing 737 aircraft, the new airline will significantly expand both domestic and international connectivity, helping meet the rising travel demand in Central Asia.
The initiative is also expected to contribute to Kazakhstan’s socio-economic development, creating thousands of high-quality jobs and fostering growth in tourism, trade, and logistics across the region.
At the same event, Vietjet Qazaqstan and Boeing signed a Customer Services General Terms Agreement, laying the groundwork for long-term technical collaboration. Boeing will provide the new airline with comprehensive support, including software solutions, spare parts, pilot and engineer training, and aircraft maintenance and upgrades, ensuring safe and efficient operations of the future 737 fleet.
Qazaq Air, founded in 2015, is Kazakhstan’s regional airline operating a fleet of modern De Havilland Dash 8-Q400 turboprop aircraft. It currently connects key cities across the country, including Astana, Almaty, Shymkent, and border regions.
This move follows Vietjet’s successful expansion model in Thailand, where its joint venture, Vietjet Thailand, has grown to become one of the country’s leading low-cost carriers.
The establishment of Vietjet Qazaqstan underscores Vietjet’s growing regional ambitions and aligns with Vietnam’s broader strategy to deepen economic ties with Central Asia.
Hanoi, Vietnam – For over two decades, Google has been the undisputed leader of internet search. But that dominance is now facing a serious test from a new breed of AI-powered engines, with OpenAI’s ChatGPT at the forefront of this challenge.
Behind the scenes, Google has been growing increasingly concerned over the rise of generative AI platforms that can provide instant, conversational answers to user queries — often without the need to click through multiple search results. According to sources close to the company, these concerns have been mounting for at least two years, prompting internal reorganizations, rushed product rollouts, and strategic shifts to defend its core business.
ChatGPT: A New Way to Search
When OpenAI launched ChatGPT in late 2022, it quickly captured global attention with its ability to generate coherent, detailed, and contextually accurate responses. Users found that instead of typing keywords into Google and sifting through links, they could simply ask ChatGPT a question — and get a straight answer in seconds.
This shift in user behavior poses a real risk to Google’s lucrative advertising-based search model. With fewer people clicking on sponsored links, Google’s ad revenue — which makes up more than 80% of its total income — could take a significant hit.
Google’s Response: Innovation and Urgency
Google hasn’t been sitting still. In response to the AI threat, the company accelerated its AI initiatives, launching Bard (now rebranded as Gemini) and embedding more AI features into its search engine. Sundar Pichai, CEO of Google’s parent company Alphabet, acknowledged in early 2024 that generative AI represents “the next wave of computing” — and a key battleground for the future of the internet.
Internally, Google has also ramped up AI talent recruitment and restructured its teams to focus more aggressively on AI development. Still, catching up with OpenAI’s rapid momentum remains a challenge.
Implications for Users in Vietnam and Beyond
For internet users in Vietnam and Southeast Asia, this AI shift could reshape how people interact with the web. Instead of typing queries in English or Vietnamese and sorting through dozens of links, users may increasingly turn to conversational AI tools for instant summaries, travel tips, financial insights, or even legal advice.
Vietnamese startups, marketers, and businesses that rely on Google search visibility may also need to adapt their strategies as AI becomes a bigger part of the user journey. Search engine optimization (SEO) may soon give way to AI optimization — tailoring content not just for Google’s crawlers, but for AI engines that summarize and present information directly.
The Road Ahead
The battle for the future of search is only just beginning. While Google remains the dominant player, the rise of ChatGPT and other AI models has introduced real competition for the first time in years. In this evolving digital landscape, innovation, adaptability, and a focus on user needs will determine who leads the next era of information discovery.
Stay informed with Vietnam Insider as we track how AI is changing the tech world — and what it means for Vietnam’s digital economy.
Cardinal Robert Prevost, a Chicago-born missionary and former bishop in Peru, has been elected as the new pope — the first American to ascend to the papacy in the Catholic Church’s 2,000-year history. He will be known as Pope Leo XIV.
Prevost, 69, addressed the faithful for the first time from the loggia of St. Peter’s Basilica, greeting the crowd with the words, “Peace be with you.” His message centered on peace, dialogue, and missionary outreach. Marking a contrast with his predecessor, he donned the traditional red papal cape that Pope Francis had declined in 2013. Leo XIV delivered his remarks in Italian and Spanish, but not in English.
Key Highlights:
Who is Robert Prevost? Pope Francis appointed Prevost in 2023 to lead the Vatican’s powerful Dicastery for Bishops, the department responsible for reviewing and recommending bishop appointments worldwide. This role gave him significant influence and visibility heading into the conclave.
His Religious Order: Leo XIV is a member of the Order of St. Augustine, a religious community guided by the principle of living “with one mind and one heart on the journey toward God.” He becomes the seventh pope to come from the Augustinian order.
How Was He Chosen? The new pontiff was elected during a closed-door conclave of 135 cardinal-electors. The process was conducted in strict secrecy, and the results of the ballots remain confidential.
When the College of Cardinals gathers inside the Sistine Chapel to elect a new pope, the world turns its eyes toward a small chimney perched on the chapel’s roof. From this chimney rises a puff of smoke—a centuries-old signal that carries monumental meaning. If the smoke is black, it means no pope has been chosen. But if it’s white, the Catholic Church has a new leader.
But how exactly is this symbolic smoke created? And how has the Vatican ensured that its message is unmistakably clear?
A Tradition Rooted in Fire
The use of smoke to communicate the results of the papal conclave dates back hundreds of years. After each round of voting, the ballots are burned, and the color of the smoke indicates the outcome. However, achieving a clear black or white hue has not always been easy—and over time, the Vatican has refined its methods to avoid confusion and misinterpretation.
Black Smoke: “No Pope Yet”
Historically, to produce black smoke, ballots were burned along with materials such as tar or resin, which generated thick soot and dark smoke. But this wasn’t always consistent—sometimes the smoke came out as an ambiguous grey, leading to speculation and media frenzy.
To improve clarity, the Vatican now uses a precise chemical mixture to produce reliable black smoke:
Potassium perchlorate (KClO₄): A strong oxidizer that fuels the combustion process
Anthracene: An organic compound that, when burned, produces heavy soot—key to the dark color
Sulfur (S₈): Helps sustain and intensify the burn for a steady black plume
This combination, when ignited with the ballots, sends up a thick column of unmistakable black smoke, signaling that the conclave has not yet reached a decision.
White Smoke: “Habemus Papam!”
The white smoke, a symbol of joy and hope, indicates that a new pope has been chosen. In earlier days, white smoke was produced by adding moist straw to the fire, which released steam and lightened the color of the smoke. But, as with the black smoke, this method sometimes lacked consistency.
Today, the Vatican relies on a different chemical recipe to ensure bright, easily visible white smoke:
Potassium chlorate (KClO₃): Another oxidizing agent to maintain combustion
Lactose: A milk sugar that serves as the primary fuel and emits light-colored smoke when burned
Colophony (pine resin): A natural resin that creates thick, white smoke visible from afar
This modern mixture ensures the world knows instantly when the Church has spoken—no confusion, just a clear signal of celebration.
Precision Matters
There have been times in history when unclear smoke—sometimes a murky gray—sparked confusion and premature celebrations. To prevent such incidents, today’s smoke signals are carefully engineered, using thoroughly tested chemical formulas. These innovations guarantee a stark contrast between the black and white smoke, helping the Vatican convey its message with absolute clarity.
So, the next time you see smoke rise above the Sistine Chapel, remember: it’s not just a puff of air—it’s centuries of tradition, science, and spiritual anticipation, distilled into a single, powerful signal for the world.
Global gold prices exploded past the $3,400 per ounce mark this morning (May 8), rebounding sharply after a steep overnight drop in U.S. trading, continuing a trend of dramatic swings driven by investor uncertainty and geopolitical tensions.
As of 10:00 AM (Vietnam time), spot gold in Asia was trading at $3,406.20/oz, up $40.10, or nearly 1.2% from the previous New York close, according to data from Kitco. Converted at Vietcombank’s current USD selling rate of VND 26,140, this equates to approximately VND 107.3 million per tael, a sharp increase of VND 1.1 million from the previous morning.
Wide Price Fluctuations Reflect Global Jitters
On Wednesday (May 7) in New York, gold closed at $3,366.10/oz, a drop of $68.40, or nearly 2%, from the prior session. Price swings of $50–100 per ounce within a single session have become common, reflecting deep investor anxiety amid unresolved trade tensions and mixed macroeconomic signals.
Uncertainty Around U.S. Trade and Monetary Policy Weighs on Markets
The dramatic volatility is rooted in growing global unease over U.S. tariff policy. While trade negotiations between the U.S. and key partners, including China, are ongoing, no clear outcomes have emerged. A high-level U.S.–China meeting is scheduled in Geneva this weekend, but analysts remain skeptical that a breakthrough agreement will be reached.
This uncertainty has driven strong safe-haven demand for gold. However, prices tend to pull back on positive economic news or a strengthening dollar. On the contrary, any signals of escalating trade tensions often lead to gold price spikes.
The U.S. Dollar Index, which measures the greenback against six major currencies, rose 0.3% to 99.85 on Wednesday, adding pressure to gold prices.
Fed Holds Rates Steady—Gold Reacts Cautiously
Following its two-day policy meeting, the U.S. Federal Reserve left the benchmark interest rate unchanged at 4.25%–4.5%, as expected. Fed Chair Jerome Powell indicated the central bank will remain in a “wait-and-see” mode until there’s greater clarity on the economic impact of Trump administration policies.
This neutral stance may limit gold’s upside in the near term, as gold—being a non-yielding asset—typically benefits from falling interest rates. Earlier expectations of a Fed rate cut in June had supported gold’s rally in early 2025, but markets now anticipate no rate cuts before July, reducing bullish momentum for the metal.
Gold Remains a Strategic Hedge Despite Short-Term Risks
Despite recent fluctuations, gold has climbed nearly 30% year-to-date, building on a 27% gain in 2024, driven by persistent global risks, central bank buying, and inflation concerns.
Bank of America forecasts that gold could reach $4,000/oz in the second half of this year, citing limited short-term upside but strong long-term potential.
Central Banks—Led by China—Continue to Stockpile Gold
Official data shows that the People’s Bank of China (PBOC) purchased gold for the sixth consecutive month in April, adding 70,000 ounces to its reserves. This trend of sustained gold buying by central banks, particularly from emerging markets like China, remains a key structural driver of gold’s long-term price resilience.
Vietnam’s economy is undergoing a significant transformation, drawing increasing interest from global businesses and investors. Once primarily recognized for low-cost manufacturing in textiles and footwear, the country is now emerging as a hub for more advanced industries.
This shift is driven by a combination of factors, including a young, educated workforce, steady improvements in infrastructure, and progressive legal reforms. Vietnam’s expanding role in global supply chains—alongside its push to develop sectors such as electronics, renewable energy, and electric vehicles—demonstrates a long-term economic vision. These developments are enhancing its competitiveness in the region while creating new opportunities for companies seeking to grow their presence in Asia.
From Assembly Lines to High-Tech Growth: Vietnam’s FDI Shift
Vietnam’s early export-driven growth relied heavily on labor-intensive sectors like textiles and footwear. In the past decade, however, the country has taken firm steps toward becoming a center for high-value, technology-driven manufacturing. LG Display Co. Ltd, for instance, has announced an additional $1 billion investment to expand its factory in northern Hai Phong, bringing its total investment in Vietnam to $5.65 billion. Meanwhile, Google now manufactures its Pixel phones in the country, and Apple has shifted the production of AirPods and Apple Watches to trusted local suppliers like Luxshare and Goertek.
These moves reflect Vietnam’s rising industrial capabilities and the growing experience of its workforce in fields like precision assembly and automation. The government supports this trend through vocational training and educational initiatives that align with industry needs. Collaborations between multinational corporations and local partners are accelerating technology transfer and building stronger supply networks.
In this video, we explore the emerging business trends in Vietnam and share practical insights on why investing in the country is a smart move for businesses.
Legal Reforms That Attract Investment
Vietnam has improved its legal and administrative framework to encourage high-tech investment. In 2023, changes to the Investment Law made it easier to obtain licenses and offered tax breaks of up to 15 years for strategic sectors such as high-tech, research, and clean energy. These measures have encouraged both new entrants and existing investors like Foxconn to expand operations.
Alongside tax incentives, Vietnam has strengthened intellectual property protections and eased restrictions on foreign ownership in several sectors. Local authorities in provinces like Bac Ninh, Thai Nguyen, and Binh Duong have also launched fast-track approval programs and one-stop service centers, making it easier for businesses to get started. These legal improvements are closely tied to Vietnam’s physical development, particularly in specialized industrial parks that host entire supply ecosystems.
Among Southeast Asian nations, Vietnam stands out for its balance of cost-efficiency, workforce readiness, and political stability. Labor costs are significantly lower than in China—by about 30–40%—yet the quality and reliability of production continue to rise. Vietnam’s geographic location near key regional players like China, South Korea, and Japan enhances its appeal as a logistics hub.
While countries like Indonesia and the Philippines also seek to attract investment, Vietnam offers a more stable business environment and better trade access. Its participation in trade agreements such as the RCEP and the Vietnam-EU Free Trade Agreement allows manufacturers to benefit from lower tariffs and improved market access. This trade openness boosts Vietnam’s reputation as a global production base.
Infrastructure has kept pace with these developments. The country has built new highways and upgraded ports and airports—including the first phase of Long Thanh International Airport. International shipping companies like Maersk have also invested in Vietnam’s logistics network, making it easier and faster to move goods in and out of the country.
Emerging High-Tech Sectors: Semiconductors, EVs, and Green Energy
Vietnam is channeling its growth efforts into future-oriented industries. The country has attracted significant FDI in its semiconductor ecosystem. Intel’s assembly and test facility in Ho Chi Minh City is one of its largest global operations, while Amkor Technology invested over US$ 1.07 billion in Bac Ninh for a semiconductor packaging facility. Additionally, Foxconn Circuit Precision is developing a US$ 383.33 million factory, and Dutch semiconductor company BE Semiconductor Industries (BESI) is set to launch a new US$ 4.9 million project in Saigon Hi-Tech Park by early 2025.
In December 2024, Nvidia and the Vietnamese government signed an AI cooperation agreement to establish an AI research and development center and an AI data center. Moreover, Nvidia’s acquisition of VinBrain, a health-tech startup under Vingroup, underscores Vietnam’s growing role in AI-integrated semiconductor applications. As global firms seek to diversify chip supply chains away from Taiwan and China, Vietnam is positioning itself as a cost-effective and technically capable alternative.
In the electric vehicle space, the local company VinFast has gained global attention by investing in EV manufacturing and exporting to international markets. Its growth is attracting other firms in related fields, including battery production and automotive electronics. These developments point to Vietnam’s rising role in the regional EV ecosystem.
Green energy is also becoming a cornerstone of Vietnam’s strategy. With abundant solar and wind resources, the country has seen growing interest in renewable energy projects. Government support in the form of investment incentives and feed-in tariffs has made large-scale solar and wind developments more viable. In parallel, Vietnam is becoming a destination for IT and software development, as global firms establish R&D hubs in cities like Ho Chi Minh City and Hanoi.
Final Thought: Vietnam’s Growing Value Proposition
Vietnam is no longer just a destination for low-cost manufacturing. It is evolving into a competitive, tech-driven economy supported by young talent, modern infrastructure, and investor-friendly policies. The presence of global companies like Apple, Google, and Intel underscores their growing reputation in high-tech production.
This transformation reflects deeper changes in education, infrastructure, and international partnerships. For global investors and manufacturers, Vietnam now offers a robust, flexible, and forward-looking base in Asia.
Vietnam is fast solidifying its position as a regional investment hub, with registered foreign direct investment (FDI) soaring to $13.82 billion in the first four months of 2025—a remarkable 39.9% increase year-on-year, according to the Foreign Investment Agency under the Ministry of Finance.
This surge, which includes newly registered capital, capital adjustments, and share acquisitions, marks the strongest FDI inflow performance in five years.
Robust Capital Inflows Despite Changing Investment Patterns
While the number of newly licensed projects jumped to 1,204, up 14.1% from the same period last year, the total capital committed to these new projects reached $5.59 billion, representing a 23.8% decline.
However, the manufacturing and processing sector remains the top magnet, attracting $3.39 billion or 60.6% of new capital, followed by real estate, which drew $1.51 billion (26.9%).
Singapore Leads the Way, Followed by China and Japan
Among the 60 countries and territories with new investment projects in Vietnam, Singapore topped the list, contributing $1.6 billion (28.6%). It was followed closely by China ($1.52 billion, 27.1%) and Japan ($573.2 million, 10.3%).
Capital Adjustments and M&A Activity Drive Overall Growth
The impressive rise in total registered capital was fueled primarily by capital expansion in existing projects and vibrant merger and acquisition activity. In total, 540 existing projects registered additional capital worth $6.4 billion—3.9 times higher than the same period in 2024.
In parallel, foreign investors made 1,106 capital contributions and share purchases, with a total value of $1.83 billion, double the previous year’s figure.
When combining both new and adjusted capital, the manufacturing and processing sector maintained a dominant share at $8.37 billion (69.8%), followed by real estate at $2.63 billion (21.9%).
FDI Disbursement Hits 5-Year High
FDI disbursement—a key indicator of actual capital flow into the economy—reached an estimated $6.74 billion, up 7.3% year-on-year. This is the highest level of FDI disbursement in the first four months of any year over the past five years.
Notably, $5.5 billion (81.6%) of this amount was channeled into manufacturing and processing, while real estate and power generation/distribution attracted $533.1 million (7.9%) and $266.2 million (3.9%), respectively.
Vietnamese Investments Abroad Also on the Rise
Vietnamese outbound investment also witnessed significant momentum. In the first four months of 2025, Vietnamese companies invested a total of $309.3 million abroad, a 3.1-fold increase year-on-year.
This includes 43 new projects with $269.2 million in registered capital and 12 existing projects with additional capital of $40.1 million. Key investment sectors include electricity and gas distribution ($111.2 million), manufacturing ($65.6 million), and logistics and transportation ($50.5 million).
Laos remains the top destination, attracting $140.6 million, or 45.5% of total outbound investment, followed by Indonesia and the Philippines.
