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Images showing the e-wallet market by share of active users by Robocash Group. — Photo Courtesy Robocash Group The modern e-wallet market in Viet Nam is surging and is expected to reach 50 million active users by July 2024, experts said. In a report, Robocash Group said: “the modern e-wallet market in Viet Nam is booming with 90 per cent of the market falling on three wallets: Momo, Moca and ZaloPay.” The country is seeing tough competition, given that there are 40 electronic wallets in operation, the report said. Robocash Group estimates that by July 2024, the e-wallet market will have 50 million active users, 100 million by May 2026, and 150 million by July 2030. In addition to the already mentioned wallets, there are three other major competitors including ShopeePay (AirPay), ViettelPay and VNPT Pay. The top six already account for 99 per cent of the market. According to a Decision Lab study, at the end of 2021, 56 per cent of the Vietnamese population that had an … [Read more...] about E-wallet market in Viet Nam estimated to reach 50 million users by 2024

Phan Thi Hue, head of the Legal Inspection Department under the Vietnam Directorate of Fisheries, noted that the EC will not try to remove the ‘yellow card’ regarding the detection of fishing vessels encroaching in foreign waters. An EC report in May warned that it is likely to impose ‘a red card’ on Vietnamese seafood in the event that violations on fishing regulations are not handled in a quick manner. The EC has therefore highlighted Vietnamese determination and efforts to gradually reduce the number of fishing vessels violating regulations regarding IUU fishing in foreign waters located in the Pacific region. It also spoke highly of the country’s goodwill, co-operation, transparency, and honesty in providing information about the fishing vessel database, as well as issuing a legal framework in line with international standards towards sustainable and responsible fishery management and international integration. Despite this, IUU inspection missions to several localities … [Read more...] about Greater efforts aim to remove Vietnam from IUU fishing warning

During their meeting, FM Son and Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn were pleased with the fruitful developments of the bilateral relationship in recent times, and agreed to continue promoting the exchange of high-level visits via all channels, enhancing people-to-people exchange; maintaining and optimizing the effectiveness of existing bilateral cooperation mechanisms; fostering economic connections; strengthening cooperation between localities, especially those that share borders; and exerting effort to speed up tourism recovery. They also agreed to accelerate negotiations towards completing the remaining 16% of the land border demarcation and marker planting in order to build a common borderline of peace, friendship, cooperation and sustainable development between the two nations; and closely coordinate at regional and international forums as well as sub-regional mechanisms, and support each other's candidacy to multilateral organizations. Sokhonn … [Read more...] about Foreign Minister meets Cambodian, Philippine, Malaysian counterparts

Participants in the event that is part of the ASEAN Tourism Forum (ATF) 2023 heard a report and gave comments on the results of the 57th meeting of the ASEAN National Tourism Organizations, considered the agenda of M-ATM+3 (ASEAN plus China, Japan, and the Republic of Korea); M-ATM-India and M-ATM-Russia; and attended consultations with international organizations. The meeting also reviewed and approved the Chairman's Statement and 26th meeting of M-ATM Minutes. Speaking at the event, Deputy Minister of Culture, Sports and Tourism Doan Van Viet said that 2022 witnessed a rapid recovery of the regional tourism industry. Countries reopened borders and lifted travel restrictions related to the COVID-19 pandemic. As a result, in the final months of 2022, the number of international visitors to the region increased rapidly, promoting the recovery of services, and contributing to job creation and overall economic growth. During the transition time of the tourism industry, the ASEAN … [Read more...] about Vietnam attends 26th Meeting of ASEAN Tourism Ministers in Indonesia

Prime Minister Pham Minh Chinh speaks at the conference. (Photo: VNA) Binh Dinh (VNA) – Prime Minister Pham Minh Chinh urged the north-central and central coastal regions to create more breakthroughs in development to match their potential and advantages while addressing a conference in Quy Nhon city, Binh Dinh province, on February 5. The conference touched upon the implementation of the Government’s action plan to materialise the Politburo’s Resolution No. 26-NQ/TW dated November 3, 2022 on orientations for socio-economic development and national defence and security in the two regions by 2030 with a vision towards 2045. It was also intended to promote investment in the regions with the theme of “Linkage - Breakthroughs from maritime economy - Rapid, sustainable development.” The regions hold strategic positions and roles of special significance in terms of economy, especially maritime economy, politics, culture, social affairs, environment, external relations, … [Read more...] about PM asks north-central, central coastal regions to create development breakthroughs

A worker (right) given information on job vacancies at the Hanoi Job Marketplace (Photo: VNA) Hanoi (VNS/VNA) - Employment service centres in big cities have increased capacity to help connect workers with vacancies after the Tet (Lunar New Year) holiday. Nguyen Duc Hoang, an electrician in Hanoi, quit his job before the Tet holiday and has been doing a variety of part-time jobs since. He has been receiving unemployment insurance for three months. He went to the Hanoi Job Marketplace to find a more stable job with insurance and allowances. “Through the job marketplace, I was introduced to several jobs related to my profession, and I’m considering them,” said Hoang. Nguyen Thi Nhung, an accountant, also went to the Hanoi Job Marketplace to find out more information about recruitment after finishing an advanced professional course. “I already got the information I needed, and I am comparing companies’ conditions and remuneration," she said. Vu Quang Thanh, … [Read more...] about Job centres step up efforts to help unemployed workers after Tet

Great chances for Vietnam to switch to Web 3.0 (Source: netweb.vn) Hanoi (VNA) – As more information technology businesses invest resources into Web 3.0, coupled with the large number of users and coders, Vietnam sees great opportunities in the blockchain market in the Southeast Asian region, say experts. Web 3.0 was born from the natural evolution of older generation Web tools combined with advanced technologies such as artificial intelligence (AI), blockchain, and the connection between users and the Internet. In other words, Web 3.0 is an upgrade to its predecessors: Web 1.0 and 2.0. In recent years, foreign investors have flocked to Vietnam and established investment funds specialising in blockchain. Capital inflows into non-fungible token (NFT) assets also skyrocketed from 37 million USD to 4.8 billion USD in 2021, Finder reported. Experts explained that Vietnam has about 5.9 million people, or 6.1% of the population, who have exposure to blockchain-enabled … [Read more...] about Great chance for Vietnam navigate to Web 3.0: Experts

AI4VN has been an annual programme organised by the Ministry of Science and Technology since 2018 (Photo: VietnnamPlus) Hanoi (VNA) - The 2022 Vietnam Artificial Intelligence Day (AI4VN), themed “AI – Recovering the economy , shaping the future”, began in Hanoi on September 23. The forum was expected to serve as a venue for participants to share stories, and propose solutions to contribute to creating motivation for developing the AI ecosystem in Vietnam. This was also a good chance for the community to understand more about the application perspective to see how AI technology has changed people's lives. At the event, Deputy Prime Minister Vu Duc Dam said AI4VN 2022 introduces artificial intelligence products from not only big and reputable enterprises but also small businesses, adding that this shows that technology will greatly change lives now and in the future. He stressed that Vietnam needs to make more efforts in the process of applying artificial intelligence … [Read more...] about 2022 Vietnam Artificial Intelligence Day opens in Hanoi

Producing wooden furniture for export at Trieu Phu Loc Furniture Co., Ltd, Tan Uyen Town, Binh Duong Province. — VNA/VNS Photo Wooden furniture exports from Southeast Asian markets to Australia grew sharply in the past year, with Viet Nam leading the way on US$205.6 million, up 26.4 per cent year-on-year. Following Viet Nam is Malaysia with $101.9 million and Indonesia with $61.7 million. The proportion of wooden furniture imports from these three markets accounted for 22.9 per cent of the total value of wooden furniture imports into Australia. The Import-Export Department, Ministry of Industry and Trade, quoted statistics from the General Department of Customs saying that the export value of wooden office furniture reached $28.4 million in December, a year-on-year decline of 28.6 per cent. The export value of wooden office furniture reached $370.3 million last year, down 15.9 per cent over the same period in 2021. In the structure of wooden furniture exports last year, … [Read more...] about Viet Nam leads Southeast Asia in wooden furniture exports to Australia

A Vietjet aircraft. The company’s revenue in 2022 hit VND32.5 trillion, while profit was limited, reaching only VND215 billion. — VNA/VNS Photo Vietjet Air saw an impressive recovery after the COVID-19 pandemic as it recorded a year-on-year rise of 175 per cent in net revenue to VND7.35 trillion (US$313.4 million), and earned profit of VND902 billion in the last quarter of 2022. The company’s revenue in 2022 hit VND32.5 trillion, while profit was limited, reaching only VND215 billion. It also contributed over VND4.3 trillion worth of direct and indirect taxes, fees and charges to the State budget. Last year, the carrier transported 20.5 million passengers aboard 116,000 flights, in which domestic transport increased by 20 per cent compared to 2019 before the COVID-19 pandemic broke out. Vietjet opened more than 20 new routes in 2022, mainly to the Indian market. As of December 31, 2022, Vietjet had operated a total of 103 routes. In 2023, Vietjet expects high revenue … [Read more...] about Vietjet reports over VND900 billion in profit in Q4/2022