Vietnam news in brief - March 6

Spectacular drone light show premieres in Ha Long Bay

Sunset in Ha Long Bay, Quang Ninh Province. Photo: VNA

For the first time, a spectacular drone light show will illuminate the UNESCO World Heritage Site of Ha Long Bay during the Ha Long Carnival 2024 - the highlight event of Quang Ninh Province's 2024 tourism stimulation program. The event, which will take place on the National Reunification Day (April 30) and May Day (May 1) holidays, is expected to use the latest modern technologies as well as elements of music and theater, combined with history and culture to highlight the values of Ha Long Bay's natural heritage.

Bill Gates on tour in Danang and Hoi An

Bill Gates and his girlfriend returned to Vietnam after 18 years on a Gulfstream G650ER private jet, spending five days in the central city of Danang and the ancient city of Hoi An, VnExpress reported. After landing in Danang, he and his girlfriend stayed at a five-star resort in Son Tra District. Bill Gates came to Vietnam in 2006 and met with representatives of the information technology industry. At that time, he spent a day visiting Tu Son District in Bac Ninh Province.

Investor consortium confirms feasibility of Lao Cai - Quang Ninh rail link  

A consortium has completed the mid-term assessment of the development plan for a railway linking the northwestern mountainous province of Lao Cai with the coastal province of Quang Ninh. The investors propose to build a 442km railway through 10 provinces and cities, including Lao Cai, Hanoi, Haiphong and Quang Ninh.

The line is designed to accommodate trains traveling at speeds between 160km/h and 200km/h. The tracks will be of the international standard gauge of 1,435mm to connect with freight trains from China's Yunnan Province.

Viettel Post shares to debut on HoSE at $2.65 apiece

Viettel Post JSC, a member of the military-owned Viettel Group, will list its 121.8 million shares on the Ho Chi Minh Stock Exchange (HoSE) on  March 12 at VND65,400 (US$2.65) each. At this starting price, the company's market valuation will reach VND1.22 trillion (US$49.4 million).

Viettel Post shares were traded on the Unlisted Public Company Market (UPCoM) between November 2018 and February 2024, rising from VND68,000 ($2.75) apiece to VND78,400 ($3.17) apiece.

Korea's Incheon Port opens more services to Vietnam

On March 6, South Korea's Incheon Port Authority (IPA) announced that Maersk launched its PH5 service at the Port of Incheon on March 4. Maersk's five vessels ranging from 2,544 to 2,826 TEU will sail from the port to Xiamen, Hong Kong (China), Leam Chabang (Thailand) and Cat Lai (Vietnam). PH5 is a weekly sea route from the port of Incheon in Korea to Vietnam, Thailand and China, which is expected to contribute to the recovery of trade between the countries. 

According to an IPA executive, this new route will help strengthen the Port of Incheon's services to Vietnam and Thailand, helping small and medium-sized enterprises expand their export markets and customer base.