Vietnam News Highlights for August 4, 2023

Subsidy of $1,000 for buying an electric car

A subsidy of about $1,000 for purchasing a new electric car is the Ministry of Transport's proposal sent to Deputy Prime Minister Tran Hong Ha to support the transition to electric cars.

The ministry proposed three types of electric cars to receive support and incentives, including battery electric cars, fuel cell electric cars and solar cars. It urged to amend the incentive policies for the development of electric cars (especially for public transportation) in relevant laws. The ministry wants to raise emission standards, limit fuel consumption to restrict the use of fossil fuel vehicles and establish zero-emission zones in urban core areas where only electric vehicles are allowed.

Vietnamese primary school students rank highest in mathematics

The majority of Vietnamese primary school graduates are proficient in mathematics and reading, ranking highest among low- and middle-income countries, according to a UNESCO survey conducted from 2019 to 2021.

The Global Education Monitoring Report 2023 shows that among 31 countries, Vietnam and Russia lead with 91% of primary school students proficient in mathematics. Russian students have a higher reading proficiency rate at 98%, while the rate for Vietnamese students is 81%. The report "Technology in Education" provides education data from countries and the relationship and impact of technology and education.

Hoi An - Japan Cultural Exchange to take place this weekend

The Hoi An - Japan cultural exchange event will be held in Hoi An this weekend. Photo: hoianworldheritage.org.vn

The 19th Hoi An - Japan Cultural Exchange Event will be held from August 4 to 6 in the ancient city of Hoi An to commemorate the 50th anniversary of Vietnam-Japan diplomatic relations (1973-2023). It offers visitors the opportunity to experience traditional Japanese and Hoi An culture, including tea ceremony performances, Ikebana flower arranging instruction, calligraphy, and a visit and experience of "Drawing Hizen Ceramic Patterns" at the Museum of Crafts Ceramics of the Hoi An Museum.

Tourists to Ho Chi Minh City spend the most nationwide

Tourists to Ho Chi Minh City spend the most money, generating revenue of VND60.7 trillion (US$2.5 billion) in the first seven months of 2023, according to data from the General Statistics Office. It is followed by Hanoi with revenue from accommodation and food services reaching VND55.9 trillion ($2.3 billion),

the coastal city of Danang with nearly VND13 trillion ($545.8 million), the southern province of Khanh Hoa with VND19 trillion ($797.9 million), and the port city of Haiphong with VND1.3 trillion ($54.6 million). The country's total revenue reached VND395.8 trillion ($25 billion).

Danang, Malaysian localities tie tourism, investment

Nguyen Van Quang, secretary of the Danang Party Committee, and Malaysian Ambassador to Vietnam Dato Tan Yang Thai agreed on August 3 to strengthen the central coastal city's cooperation with Malaysian localities in tourism and investment. The two officials hoped to open new flight routes between Danang and its counterparts in Malaysia and the Danang-Kuala Lumpur route.

Danang is home to 18 Malaysian-funded projects with a total capital of US$222 million. From January to June, the city welcomed more than 68,600 Malaysian tourists.

Vietnam soars as Asia's second best-performing market in Jan-Jul

The Vietnamese stock market rose by 21.4% in January-July, making it the second best-performing market in Asia after Japan. In July alone, the benchmark VN-Index gained 9.2% to 1,222.90 points, marking its second-best month since the beginning of the year. Driving the market were investors' expectations of better corporate earnings in the coming quarters, supported by easing fiscal and monetary policies, lower interest rates, and prospects of a soft landing in developed markets.

Vietnam is among Binance's top five markets with monthly trading of $20 billion: WSJ

Vietnam is the fourth largest market for cryptocurrency trading platform Binance, with a total of $20 billion in monthly transactions, according to the Wall Street Journal. Ninety percent of this figure comes from futures volume. China is Binance's largest user community, trading around $90 billion worth of assets each month. Other top five markets include South Korea, Turkey and the British Virgin Islands.

Measures needed to protect Vietnam's intellectual property

The Vietnam Digital Communications Association (VDCA) has urged the Government to take action and protect Vietnamese animation brand Wolfoo from foreign lawsuits and to ask US video streaming platform YouTube to respect Vietnamese laws on intellectual property disputes. YouTube has reportedly deleted 3,000 Wolfoo animation videos from its network. Wolfoo's developer, Sconnect, has been in a legal dispute over intellectual property with Canadian company Entertainment One, the developer of Peppa Pig, since early 2022. The deletion caused massive losses for the Vietnamese company.

Vietnam’s female football team receives $75,800 reward

Vietnamese women footballers already made history for the country by qualifying for the 2023 Women's World Cup. Photo: VNA

The Vietnam Football Federation (VFF) will reward the national women’s team with a total of VND1.8 billion (US$75,800) for playing three matches in the group stage of the FIFA Women's World Cup 2023. With FIFA's bonus, Vietnamese female footballers received a total of VND17.8 billion (US$750,000).

According to Tran Quoc Tuan, President of the VFF, the reward will motivate the players to strive to qualify for the 2027 Women's World Cup. Vietnamese women footballers made history for the country by participating in the Women's World Cup 2023, the first time Vietnam has ever participated in a global football tournament.

Series of events at  2023 Vietnam AI Day

The 2023 Vietnam Artificial Intelligence Day (AI4VN), a leading science and technology event in Vietnam, will be held on September 21-22 with numerous activities. As an annual program of the Ministry of Science and Technology, AI4VN aims to promote the application of AI in daily life and connect businesses with government agencies to support policies for AI development in Vietnam.