Vietnam news in brief - March 25

First world championship for Vietnam's three-cushion national team

Tran Quyet Chien (left) and Bao Phuong Vinh with their World Three-cushion Championship trophy. Photo: Billiard1

For the first time, Vietnam has been crowned World Champion of the National Teams in the Three-cushion World Championship after two players, Tran Quyet Chien and Bao Phuong Vinh, defeated their Spanish opponents in the final in Germany early today (March 25). Vinh recorded a win over Sergio Jimenez, while Chien was defeated by Ruben Legazpi, forcing the two teams into a tie-break for the championship.

The Vietnamese duo secured a narrow victory in the tie-break to take home the title. This is the fourth title for the Vietnamese three-cushion players one year after victories in Portugal, Turkey and Colombia.

Small earthquake hit Hanoi early this morning

A 4.0-magnitude earthquake struck Hanoi early this morning (25 March), causing minor tremors in downtown Hanoi. Analysts said the quake was registered at 8am about 16km underground in Bot Xuyen commune, My Duc district.

The corpse of a Vietnamese sailor returned home

The body of Dang Duy Kien, killed in a March 6 rocket attack on the Barbados-registered cargo ship True Confidence, was returned to Vietnam's Haiphong port late March 24. He was then taken back to his hometown of Vinh Bao District for burial.

Twenty crew members, including four Vietnamese, were aboard the True Confidence when it was hit by a Houthi missile. Three were killed, including Kien and two Filipinos. Three other Vietnamese survived and returned home on March 14.

Vietnam economy to enlarge 6.1% in Q1: Standard Chartered

Vietnam's economy may expand by 6.1% year-on-year in Q1/2024, slightly lower than the 6.7% rate recorded in Q4/2023, Standard Chartered Bank has forecast. It still expects Vietnam's growth to accelerate from 6.2% year-on-year in the first half to 6.9% year-on-year in the second half, bringing full-year growth to 6.7%.

The Bank said strong retail sales and exports were the main drivers of the Vietnamese economy in Q1. However, the economy may be affected by headwinds in global trade.

BCG Energy partners with SK Ecoplant for new wind and solar power projects

BCG Energy JSC, a member of Bamboo Capital Group, has entered into an agreement with South Korean company SK Ecoplant to operate wind, ground-mounted and rooftop solar power projects capable of producing up to 700MW of renewable electricity in the country. BCG Energy currently produces about 1,400 MW of wind and solar power and plans to increase its total output to 2,500 MW by 2025.

SK Ecoplant is a member of SK Group, the third largest company in South Korea, with a market capitalization of $63 billion.

Vinhomes to collect $404 million through bond issuance

Real estate developer Vinhomes JSC, a member of conglomerate Vingroup, plans to raise VND10 trillion (nearly $404 million) in the third quarter by issuing bonds. The bond is non-convertible and non-guaranteed and will mature in two to three years from the date of issuance. The interest rate has not yet been announced.

As of the end of 2023, Vinhomes had a total of VND15.4 trillion ($622 million) in bonds, of which approximately VND4.4 trillion ($177.7 million) will mature in 2024.

Over 300 electronics and semiconductor manufacturers will attend Vietnam Global

Manufacturing Forum 2024 (VGMF 2024), which kicks off tomorrow (March 26) at the National Convention Center in Hanoi. The event is a venue for experts to discuss the latest developments in the smart manufacturing sector and its impact on the Vietnamese and global industries.

The forum will discuss smart manufacturing, AI manufacturing, technology and innovation, and global supply chains. It will be followed by a B2B matching session to enhance cooperation between Vietnamese and foreign enterprises.