Vietnam News Highlights for May 8, 2023

Vietnamese swimmer breaks SEA Games record

Vietnamese swimmer Pham Thanh Bao won the gold medal in the 100m individual breaststroke final at the 32nd SEA Games on May 7 with a time of 1 minute and 0.97 seconds. Bao broke his own record of 1 minute and 1.17 seconds set at the 31st SEA Games in Vietnam last year.

Bao, a 22-year-old swimmer, became the first Vietnamese athlete to break a record at the 32nd SEA Games. He suffered a shoulder injury in August 2022 and has faced difficulties in training and competition.

Local bank seeks to offload Bamboo Airways shares

A Bamboo aircraft. Photo: Thanh Giap/The Hanoi Times

National Citizen Bank (NCB) plans to sell 203 million shares it owns in Bamboo Airways, a member of the FLC Group. The bank's stake represents 10.9% of the airline's total shares. The shares are among the mortgages guaranteeing NCB's loans to Bamboo Airways and FLC Group.

On April 10, Bamboo Airways shareholders rejected the company's share issuance plans. The airline wanted to issue 772 million shares to raise VND7.72 trillion (US$329 million) for debt restructuring. The company also planned to sell 185 million shares to existing shareholders for VND1.85 trillion (US$79 million). An extraordinary shareholders' meeting will be held on May 9 to discuss the plans.

Vietnam calls on Qatar to facilitate better trade relations

Vietnamese Vice President Vo Thi Anh Xuan called on Qatar on May 7 to facilitate Vietnamese exports to the Qatari market, establish a halal certification center for Vietnamese products to meet local standards, and expand bilateral relations in tourism and trade.

Xuan and Deputy Amir of the State of Qatar Sheikh Abdullah Bin Hamad Al Thani agreed that the two nations would strengthen cooperation in energy, education and training, agriculture, infrastructure development, transport, and logistics. The two officials agreed that Vietnam and Qatar need to finalize bilateral agreements.

Ta Xua to be an ecological destination in Son La Province

Authorities in the northern mountain province of Son La have approved an infrastructure plan for Ta Xua Commune, an emerging tourism hotspot in the mountainous district of Bac Yen. The plan, which spans the 2025-2050 period, covers an area of 13,000 hectares and a population of 12,000 people.

Through the development plan, the provincial authorities hope to complete the infrastructure development of districts along the Da River and promote local tourism by 2050, in which Ta Xua Commune will become an attractive ecological tourism destination integrated with modern and traditional products and services.

Vietnam Airlines shares placed under control

The HCM Stock Exchange will place shares of the national flag carrier Vietnam Airlines under control on May 12. The airline has failed to submit its 2022 financial report for more than 30 days after the end of the first quarter. Vietnam Airlines shares will be subject to trading restrictions if the company fails to submit the financial statements.

The company in March failed to propose the marker regulator approve the late submission of the 2022 financial report. On May 5, Vietnam Airlines said that the company needs more time to finalize the annual financial statements as it has undertaken an overhaul.