Vietnam news in brief - December 24

General Secretary To Lam meets outgoing Australian Ambassador  

Party Secretary General To Lam met with Australian Ambassador Andrew Goledzinowski on December 23 as he concluded his term in Vietnam. The Party Chief praised the Ambassador's efforts in strengthening bilateral relations, particularly in elevating the two countries' ties to a Comprehensive Strategic Partnership. He reaffirmed Vietnam's commitment to enhancing political trust and regional stability with Australia, a key partner in trade, climate action, and peacekeeping cooperation.

General Secretary To Lam and Australian Ambassador Andrew Goledzinowski.

Inspiring stories bring hope and unity to Vietnam

WeChoice Awards 2024, themed "My Vietnam," honors inspiring individuals and stories that promote unity, resilience, and positive values. The event highlights courage, community contributions, and national pride. The nomination period ends on December 24 with more than 111,000 entries. Voting will run from December 25 to January 15, 2025 at wechoice.vn, with results announced on January 20, 2025.

Vietnam's January-November durian exports hit US$3.1 billion

Vietnam's durian exports from January to November increased by 44% year-on-year to over US$3.1 billion, accounting for nearly half of the total fruit export revenue this year. China led the import markets with US$2.8 billion during the period, up 43% from the same period last year. Thailand ranked second with US$177 million in durian imports, an increase of 82% year-on-year.

Eleven provinces and cities issue emergency directives for Typhoon Pabuk

Eleven provinces and cities have issued emergency directives for Typhoon No.10 (Pabuk), calling for vessel surveillance, no-go areas and response preparations. At 16:00 on December 24, the storm was in the southwest East Sea with force 8 winds and gusts up to force 10, moving west-southwest at 5-10 km/h. It is forecast to weaken on December 25 as it approaches the coasts of Khanh Hoa and Binh Thuan, two central coastal provinces.

Ho Chi Minh City holds "Silent and Noble Role Models" ceremony

Ho Chi Minh City held the 6th "Silent and Noble Role Models" Ceremony for 2024 on December 24, honoring 17 exemplary collectives and 23 individuals. These role models have made quiet contributions to the community and spread profound humanistic values. The event reflects the city's vision of building a modern, compassionate urban area while addressing and eliminating social barriers.

Vietnam ranks high globally and regionally in investment

Vietnam ranks as the second most attractive investment destination globally and first in Asia, according to JETRO. With $496.7 billion in registered FDI capital, 2024 inflows are projected to reach $40 billion, up 5-7% in disbursement from 2023. This reinforces Vietnam’s position as a top choice for investors, driven by economic resilience and global supply chain diversification.

Vietnam nears 200 million bank accounts, shifting to cashless

Nearly 200 million individual payment accounts have been opened in Vietnam’s banking system as of Q3 2024, a 15,000 increase from 2023. Payment deposits reached a record VND1.19 quadrillion ($49 billion), growing 9% on year. These accounts, making up 17% of total deposits, highlight the shift towards cashless transactions, with 90% of adults now holding bank accounts. 

Yeah1 stock rises amid strong results and financial pressure

Yeah1 Group’s YEG stock hit the ceiling for five consecutive sessions due to market supply-demand dynamics, as clarified to HoSE. The company reported strong Q3 2024 results, with revenue tripling to VND345 billion ($14 million) and net profit surging 11 times year-on-year. However, financial pressure persists, with liabilities doubling to VND988 billion ($40 million) as of September 30.