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Da Nang Smart City App helps connect residents and local administration. (Photo: VNA) Da Nang (VNS/VNA) - With 43% of the population aged 18 and more owning electronic accounts on the public service portals , the central city of Da Nang is among the leading localities in Vietnam in digital transformation. Digital transformation is being promoted with the participation of all agencies, enterprises and residents. Digital economy accounts for 17% of the city’s Gross Regional Domestic Product in 2022. This has contributed to the city’s digital socio-economic recovery and development and created digital skills and habits for local people. Nguyen Quang Thanh, Director of the municipal Department of Information and Communications, said the e-government and smart urban area building inspire the city’s digital transformation . “Data plays a key role in creating new values,” he told Vietnam News Agency. Since 2020, the city has built a database based on various sources. … [Read more...] about Da Nang applies digital transformation to urban management

In early April, the Board of Directors at Nam Viet JSC, a seafood producer in the southern region, gave the nod to the decision on dissolving Nam Viet Real Estate Co., Ltd. This company, based in Long Xuyen city in the Mekong delta province of An Giang, was founded in March 2022 to operate in real estate. Real estate might not always prove a fertile venture At the inception, the company had $3.5 million in chartered capital, which was scaled down to around $391,300 in mid-June 2022 before terminating operation in the recent past. At the company’s 2022 general annual shareholders meeting in June, CEO Doan Toi told shareholders that the company owned land, and that they would unveil two real estate projects later in the year, and another two in 2023. Last year, Nam Viet set an ambitious pre-tax profit target of VND1 trillion ($43.4 million) compared to a mere $6.5 million pre-tax profit posted in 2021, and committed to maintaining its profit in the range of a … [Read more...] about Core business key as companies pull out of real estate

Access to this huge amount of customer data is a golden opportunity for banks to promote digital services and products, especially online lending. — Photo baodautu.vn Through a series of newly-issued regulations and access to the national population database, banks are planning to expand their online money-lending services. Deputy Governor of the State Bank of Viet Nam (SBV) Pham Tien Dung said accessing the national population database will help banks to check and authenticate new customer information more easily. Commercial banks will promote lending services on their electronic platforms based on this database. The draft amending the Law on Credit Institutions has many regulations specifying banking services via electronic devices. Besides that, several provisions supplemented by Civil Law and the Law on Electronic Transactions are necessary to complete the legal framework for online lending. Online lending, mostly small loans, has been implemented by many banks for a … [Read more...] about Banks to promote online lending through national population database access

The northern region of Vietnam is in the midst of a scorching heatwave. A representative from EVN stated that electricity consumption, both nationally and in Hanoi in particular, has steadily increased recently as a result of widespread and prolonged hot weather. According to EVN's statistics, the average daily electricity consumption in the city was 58,336 million kWh in March, 61,542 million kWh in April, and 75,406 million kWh in May. Consequently, average electricity consumption in May increased by more than 22.5 per cent compared to April. Deputy Minister of Industry and Trade (MoIT) Do Thang Hai, speaking on June 3, said, "Some areas currently lack sufficient electricity for production and daily, but the situation will soon be rectified." The power disruption in Hanoi and other areas will only last for a limited duration. According to Hai, hydropower, one of the primary sources of electricity in the north, is being mobilised at a low level due to the lack of sufficient … [Read more...] about Northern Vietnam lacking sufficient electrical power

There are 9,953 Mobile Money service points nationwide. — Photo vnexpress.net Viet Nam had more than 3.9 million people using Mobile Money service by the beginning of last month, an increase of 6.3 per cent compared to March and three times higher compared to the same period last year. Statistics of the Viet Nam Telecommunications Authority (VNTA) under the Ministry of Information and Communications show that the number of Mobile Money users in rural, mountainous, and remote areas reached more than 2.7 million customers, accounting for 69 per cent of service users. Currently, there are 9,953 Mobile Money service points nationwide, an increase of 12 per cent compared to March. The number of units accepting payment via Mobile Money reached 15,326 points, up 0.2 per cent. The total number of transactions including deposit, withdrawal, money transfer, and payment by Mobile Money is more than 26.1 million transactions, with a total transaction value of more than VND1.7 trillion … [Read more...] about Mobile Money has nearly 4 million users

The disaster struck on Friday, when a passenger train hit a stationary freight train, jumped the tracks and hit another passenger train passing in the opposite direction near the district of Balasore, in the eastern state of Odisha. Following non-stop efforts to rescue survivors and clear and repair the track, trains resumed running over that section of the line on Sunday night. Trains were passing slowly by the derailed and mangled compartments, while repair work continued at the track side. Some 120 km (75 miles) further north, at Kharagpur in West Bengal state, railway officials and witnesses gathered to submit evidence to a two-day inquiry, led by A.M. Chowdhary, commissioner of railway safety for the south-eastern circle. "Everyone involved at the site have been asked to join the inquiry. The probe will take time and we are looking at all possible angles," Chowdhary told reporters. India's Railway Board has recommended that the federal Central Bureau of Investigation … [Read more...] about India investigates rail disaster as trains crawl through crash site

President Vo Van Thuong (R) hosts US Ambassador to Vietnam Marc E. Knapper in Hanoi on June 5 (Photo: VNA) Hanoi (VNA) – President Vo Van Thuong hosted US Ambassador to Vietnam Marc E. Knapper in Hanoi on June 5, during which the State leader affirmed the importance that Vietnam attaches to cooperation between the two countries, describing the US as one of the leading partners of Vietnam. He hailed the US diplomat’s efforts to collaborate with Vietnamese authorities and visit many Vietnamese localities to seek stronger partnership between the two countries. Knapper expressed his delight at the progress of bilateral ties after 28 years of normalising their relations and 10 year of setting up their comprehensive partnership. He said that US President Joe Biden was pleased with the outcomes of his telephone talks with Vietnamese Party General Secretary Nguyen Phu Trong in March. The ambassador held that amid many global challenges, the strengthening of cooperation between … [Read more...] about Vietnam attaches great importance to ties with US: President

The vision is for Hanoi to become a vibrant, green, and serene metropolis with the Red River landscape axis. "For a long time, people often say that Hanoi has turned its back on the Red River," Nguyen Van Loc, a 60-year-old resident of Phuc Tan Ward, Hoan Kiem District, told The Hanoi Times as he gazed out at the vast expanse of lush green land ahead, with thriving banana plantations growing on the fertile alluvial plains known as the Red River Alluvial Island (or Bai giua song Hong in Vietnamese). The Middle Island of the Red River. Photo: Chien Cong/The Hanoi Times Spanning around 18 hectares and stretching 3.8 kilometers in length, the area is under the jurisdiction of Chuong Duong and Phuc Tan wards, Hoan Kiem District. For many years, a significant portion of the alluvial island has been tilled by over 30 households for vegetable production. However, there is still a portion of the land that remains vacant and covered with overgrown reeds. "It is … [Read more...] about Red River – a centerpiece in Hanoi’s green development

Officials from the Ministry of Transport's Project Management Board No. 7 said at a meeting with authorities in the Mekong Delta province of Long An Monday that work to expand the 62-km expressway would begin in 2025 and be completed in two years, allowing vehicles to travel at speeds of 120 kph. Connecting Ho Chi Minh City and Tien Giang Province and passing through Long An, the expressway opened to traffic in 2011 with four lanes and two emergency lanes. The only expressway between HCMC and the delta has become increasingly overloaded, especially during holidays such as Lunar New Year when people flock to their hometowns. Currently the maximum speed allowed for vehicles is 100 kph. Since toll collection was stopped in January 2019 it has seen the number of vehicles increase by 30% to 50,000 daily, resulting in frequent traffic snarls and accidents, according to the Directorate of Roads, which manages it. Last April the highway was lengthened by 50 km when the Trung Luong … [Read more...] about Expressway linking HCMC, Mekong Delta to become doubly wide

Recently, Mixue, a Chinese chain of fresh ice cream and tea stores focusing on the low-end market and Generation Z, announced it had reached 1,000 stores through franchising after nearly five years of operation in Vietnam – a scale that no F&B brand had ever reached. Despite the global economic slowdown, top-of-mind F&B brands expanded their chains after the Covid-19 pandemic. As of February, Highland Coffee had around 600 stores, an increase of 63.5% compared to March 2021. Trung Nguyen E-Coffee nearly doubled its stores from 308 in March 2021 to 620 in February 2023. Phuc Long, after receiving the capital from Masan Group, expanded rapidly to more than 900 stores, including 132 flagship stores and more than 770 kiosks at WinMart/WinMart , compared to just 80 stores in March 2021. According to a report about the F&B market by iPOS.vn, the F&B market saw a considerable recovery after the COVID-19 pandemic to reach a revenue of VND610 trillion in 2022, up … [Read more...] about F&B more robust with boom in low-end market