Vietnam News Highlights for August 24, 2023

Danang celebrates August Revolution, Independence Day with cultural and sports events

Ba Na Hills, a popular destination in Danang. Photo: Sun Group

Some 40 activities will be held in the central coastal city of Danang until September 15 to celebrate the 78th anniversary of the August Revolution (August 19) and Independence Day (September 2). Among the key events is the Danang Golf Tourism Festival 2023, which kicks off today (August 24).

The celebrations include a fine art exhibition, a photo display of the nation's historical moments, a canoe race, and street performances.

Hanoi delegation surveys agritourism models in localities

From August 23 to 25, the Hanoi Department of Tourism conducted a field survey on agritourism, rural tourism, community-based tourism and heritage tourism models in Thua Thien - Hue Province, Quang Nam Province and Danang City.

The activity aims to exchange experiences on developing attractive products and creating effective agricultural and rural tourism circuits between localities.

VNG files for IPO on the US stock exchange Nasdaq

VNG Limited, the major shareholder of Vietnamese tech firm VNG Corporation, today (August 24) filed for an initial public offering of Class A shares on the US stock exchange Nasdaq. The size and value of the shares will not be disclosed. If successful, VNG Limited will follow VinFast as the next Vietnamese stock to trade on the US market.

Founded in 2004, VNG is now known as the domestic leader in game and app development. The company owns Zalo, Vietnam's largest OTT app, with approximately 75 million users.

Vietnamese pilots to receive extra pay from Vietnam Airlines

The national flag carrier, Vietnam Airlines, will pay local pilots an extra amount to bring their salaries up to the level of foreign pilots and prevent further resignations. Vietnamese pilots will receive an average payment of VND85 million (US$3,500) per month in 2022, which is 41% lower than that of foreign pilots.

Between 2018 and the first quarter of 2023, a total of 162 Vietnamese pilots quit their jobs at the company due to unequal pay.

Sixty percent of Japanese companies look to expand Vietnam-based operations

Japanese companies at a trade fair in Hanoi in early August. Photo: Vietnam Manufacturing Expo

A survey by the Japan External Trade Organization (JETRO) for fiscal year 2022 shows that about 60% of Japanese companies operating in Vietnam will expand their local operations in the next two years. Of the total number of companies surveyed, 53.6% expect their profits to improve in 2023. Vietnam is also the second most attractive market for Japanese businesses, after the US.

Only 1.1% of Japanese enterprises will scale down their Vietnamese operations and move facilities to another country.

Binh Duong to build Vietnam-Singapore innovation hub

The southern province of Binh Duong seeks solutions to build a Vietnam-Singapore innovation hub. The project, proposed by industrial park developer Becamex IDC, is expected to bring together businesses and boost technological development at home and abroad.

Binh Duong aims to become a smart city, a modern hub for industrial parks, and a leading location for technology and innovation by 2030.

Strengthened inspections of foreign casinos in 17 localities

The Ministry of Public Security and the people's committees of 17 provinces/cities have been urged to step up unannounced inspections on the operation of casinos and electronic games with prizes, according to the latest proposal from the Ministry of Finance. The request is a result of violations committed by certain businesses running casinos and prize-winning electronic games.

The 17 provinces and cities include Hanoi, Ho Chi Minh City, Haiphong City, Da Nang City, the provinces of Khanh Hoa, Dien Bien, Binh Duong, Binh Thuan, Kien Giang, Ba Ria - Vung Tau, Bac Ninh, Lang Son, Thua Thien - Hue, Dak Lak, Quang Ninh, Lam Dong and Quang Nam.

Construction of southern airport terminals to start Aug. 31

Construction of new airport terminals at Long Thanh and Tan Son Nhat airports, with a total investment of nearly VND46 trillion (US$1.89 billion), will begin on August 31, according to the Airports Corporation of Vietnam (ACV), the investor.

Hanoi creates jobs for over 155,000 workers in Jan-Aug

Hanoi created jobs for over 155,000 workers in the first eight months of the year, reaching 96.1% of the annual plan, according to the report of the Hanoi Department of Labor, Invalids and Social Affairs. From July 16 to August 15, the city provided jobs for 22,889 workers, an increase of 4.2% year-on-year.