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Vietnam news in brief - January 14

Read the Hanoi Times for more updates about the country and its capital.

EVN asked to guarantee power supply in 2024

 Reservoir of the Hoa Binh Hydropower Plant in the northern province of Hoa Binh. Photo: Khac Kien/The Hanoi Times

Prime Minister Pham Minh Chinh on January 13 urged the state-owned power utility EVN to take drastic measures to ensure power supply. The Prime Minister also asked the company and its subordinate units to better manage the power industry through market-oriented principles, while assuring that its overhaul will be processed to overcome difficulties, prevent corruption and improve performance.

In 2023, EVN produced a total of 280 billion kWh of electricity, up 4.5% from the previous year. The state-owned company generated total revenue of nearly VND91 trillion (US$3.7 billion).

Vietnamese students celebrate Lunar New Year in Cambodia

On the night of January 13, Vietnamese students at the Royal University of Phnom Penh, Cambodia, held a celebration to welcome Tet (Lunar New Year) or the Year of the Dragon. The event also commemorated the 45th anniversary of the victory over the genocidal Pol Pot government, which brought peace and liberation to both the Vietnamese and Cambodian people.

Speaking at the event, Minister Counsellor of the Vietnamese Embassy in Cambodia called for greater efforts by Vietnamese and Cambodian students to maintain peace and foster the growth of both nations.

Two-thirds of Vietnamese crypto market traders lose in 2023

Around 65% of Vietnamese cryptocurrency traders suffered losses in 2023, according to a report on the country's crypto market by decentralized finance platform Coin98. The report, which surveyed 1,200 users in Vietnam, said the rate was down from 57% in 2022.

The main reasons for financial losses included fear of missing out (FOMO) and poor trading preparation. The report also found that losing traders often made decisions based on the recommendations of relatives and popular advisors.

Jetstar Australia apologizes for unacceptable joke about Vietnamese currency

Jetstar Australia has issued a public apology after a joke about Vietnamese currency on its Facebook fan page sparked anger among Vietnamese netizens. The airline admitted the post was a mistake and removed it shortly after receiving negative reactions from Facebook users.

The airline's joke was made on January 10, calling the Vietnamese dong "objectively funny" and referring anyone with 65 Australian dollars to a Vietnamese millionaire. The post was deemed unacceptable by the majority of Vietnamese netizens.

Vietnam's average daily commodity trade reaches $163 million in 2023

Vietnam's daily average commodity trade value reached VND4 trillion ($163.2 million) in 2023, data from the Mercantile Exchange of Vietnam showed on 12 January. The daily trading value reached the highest of VND9 trillion ($367.3 million) in the market. Twenty-six commodities have been registered for trading on the platform, and the market itself has been connected to eight others in the world.

To improve the platform's performance, experts and entrepreneurs have urged market regulators to create a set of standards for agricultural products and develop a warehouse network to complete the domestic value chain.