Vietnam news in brief - January 10
Keep checking back for more news from Vietnam.
Ha Long Bay to host world clipper race
| An aerial view of Ha Long Bay. Photo: Dai Doan Ket newspaper |
The fifth edition of the Clipper Round the World Race, an international clipper yacht competition, will be held in Ha Long Bay, Quang Ninh Province, from February 16 to 27, gathering about 400 sailors around the world. A local team called "Ha Long Bay, Vietnam" will take part in the tournament after winning the fourth round. Last season, they finished third.
VssID tops government applications with most downloads in Vietnam
Vietnam Social Security's VssID application is one of the top three government applications with the highest number of users in Vietnam. The other two applications are VneID from the Ministry of Public Security and the Central Youth Union, reported the Ministry of Information and Communication.
VssID ranks first in the business category and 25th among free apps in Vietnam, according to the App Store's "Most downloaded apps in Vietnam" ranking. To date, approximately 35 million people in Vietnam have registered for social, health and unemployment insurance using VssID.
Nearly 78% of Vietnamese adults have a payment account
| A Vietnamese consumer is using online payments to make purchases. Photo: Khanh Huyen |
Nearly 78% of Vietnamese adults have a payment account, a significant increase from 31% between 2015 and 2017, according to a World Bank report. Many banks in Vietnam reported that more than 90% of transactions are made through digital channels, with some banks reaching as high as 98%.
LEGO's first factory in Vietnam to start operations this year
Denmark-based children's toy maker LEGO expects to open its first factory in Vietnam this year, Preben Elnef, Vice Chairman of the LEGO Group and General Manager of LEGO Manufacturing Vietnam, said on January 9. The US$1.3 billion factory will use the national grid and self-installed solar panels to achieve its net-zero emissions target.
Construction of the factory began on November 22 at the Vietnam-Singapore Industrial Park (VSIP) III in the southern province of Binh Duong. Its operations will create thousands of jobs and contribute to the province's economic growth.
Vietnam Railways Corporation reports first profit in three years
The Vietnam Railways Corporation reported an after-tax profit of nearly VND95 billion (US$3.9 million) in 2023, after three consecutive years of losses. The company also announced a total revenue of VND8.5 trillion (US$348.6 million) for the year. In 2020, the state-owned company lost VND1.3 trillion ($53.3 million) due to the Covid-19 pandemic. In the following two years, the figure fell to VND654 billion (nearly $27 million) in 2021 and VND111 billion ($4.5 million).
Vietnamese state-owned sector contributes $82.4 billion to the state budget
In 2023, the total revenue of the state-owned enterprises is estimated to reach VND2 quadrillion (US$82.4 billion), exceeding the annual plan by 11.7%. The state budget contribution from the sector is expected to reach VND242 trillion ($9.97 billion).
