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Vietnam news in brief - October 21

Check out the latest events in Vietnam for today.

Biggest folk music video sets Vietnam record

FPT University students play traditional Vietnamese musical instruments in the video. Photo: VietKings

The Vietnam Record Association (VietKings) on October 20 recognized the largest folk music video produced by 1,350 students and teachers of FPT University, a member of tech enterprise FPT. The music video, titled Thien Am (The Sound of Heaven), 

features performances of seven traditional musical instruments and was filmed in five different cities. The video is available on various platforms, including YouTube.

The performance aims to increase national pride and young people's affection for playing traditional music. The music video features various popular sites and folk music in all three regions of Vietnam.

Vietnam looks forward to international collaboration in energy transition

Vietnam is willing to enhance its cooperation with international organizations in energy transition as it decides the success of accomplishing the 

tasks for responding to climate change, said Vietnamese Trade Counsellor in Thailand Le Huu Phuc at the third Asian and Pacific Energy Forum (APEF 2023) in Bangkok on October 20.

In order to promote energy transition and security, and sustain green growth, the Vietnamese government approved the National Power Development Plan 2021-2030 in May 2023. The plan aims to develop a modern power grid that reduces emissions and encourages renewable energy production.

More benefits for German firms in selected countries 

German companies will be entitled to half of the deductible in the event of a loss and cheaper guarantee fees in 34 countries and territories where they operate, including Vietnam. The latest announcement by the German government aims to ensure that its economy and businesses are not dependent on a single market, thus reducing potential risks.

VPBank completes share selling to Japan's second-largest lender

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) announced on October 20 the completion of its share issue to Sumitomo Mitsui Banking Corporation (SMBC), making the Japanese second-largest lender its strategic shareholder.

In March, VPBank agreed to sell some 1.19 billion shares to SMBC for VND39.5 trillion (US$1.5 billion). The shares will not be tradable for five years. SMBC had completed 10% of the deal before VPBank's annual general meeting in April.

Ca Mau promotes culture, tourism in Hanoi

Delegates attend the opening ceremony of the photo exhibition. Photo: Hanoimoi newspaper 

The cultural and tourism promotion festival of Ca Mau Province, in collaboration with Hanoi, took place on October 20 at the pedestrian zone near Hoan Kiem Lake. At the two-day event, exhibition booths introduce Ca Mau’s tourist destinations, local cuisine, and unique products like the One Commune One Product (OCOP) items.

200 artworks displayed at international photo exhibition

Two hundred artworks by 82 photographers are being displayed at an exhibition "Vietnam Through the Lens of International Photographers", held on October 20-30, as part of the 2nd Vietnam International Photography Festival at the Ho Chi Minh Museum - Binh Thuan Branch (Binh Thuan Province).

Among the 200 artworks, 15 were from Vietnamese authors and five from international authors received awards. Visitors can also view the exhibition online on the website

Japanese eGift provider establishes first overseas development center in Ho Chi Minh City

Japanese company, giftee Inc., announced on October 19 the establishment of their fully owned subsidiary, giftee Tech Vietnam Co. Ltd, which is located in Ho Chi Minh City. giftee Tech Vietnam is expected to enhance giftee's system development capabilities as part of its ASEAN business expansion strategy.

The eGift industry across ASEAN is expected to grow at a CAGR of 64% and is likely to reach US$131 billion by 2032. This growth can be attributed to rapid e-commerce development in the region.