<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2025/1/3/397945_vna_potal_nguoi_dan_ha_noi_chap_hanh_luat_giao_thong_tot_len_ro_ret_sau_khi_nghi_dinh_168_duoc_trien_khai_7786972.jpg" alt=""></figure></td></tr><tr><td>A police officer stops a driver for running a red light in Hà Nội on Thursday. —VNA/VNS Photo Phạm Kiên</td></tr></tbody></table></figure>HÀ NỘI — Local police across Việt Nam conducted checks and handled 25,079 violations of traffic regulations on Wednesday and Thursday.Authorities also seized 169 cars, 8,147 motorcycles and 245 other vehicles, along with revoking 4,261 driving licences.The Traffic Police Department under the Ministry of Public Security said the move follows the enforcement of Decree No. 168/2024/NĐ-CP, which stipulates administrative penalties for road traffic violations effective from January 1.The police said that among the violations detected, 6,079 involved alcohol consumption, 5,405 were related to speeding, 515 involved overloading and 60 were related to oversized vehicles.Another 60 cases involved suspected driving under the influence of drugs, while 682 instances were for failing to obey traffic light signals.Additionally, 2,808 cases involved riders not wearing helmets.The decree has introduced tougher penalties for certain violations, particularly those that are deliberate, pose significant risks and are direct contributors to traffic accidents.For example, failure to obey traffic light signals or driving against the flow of traffic on one-way streets can <a href="https://vietnamnews.vn/society/1690025/first-day-of-new-fines-for-jumping-red-lights-shows-drivers-being-generally-more-law-abiding.html">result in fines </a>of up to VNĐ20 million (US$786) for car drivers.Motorcyclists caught committing the same offence face fines of up to VNĐ6 million ($236).Drivers found with alcohol levels exceeding 50mg per 100ml of blood or 0.25mg per litre of breath can face fines of up to VNĐ20 million ($786) for car drivers or VNĐ8 million ($314) for motorcyclists.Notably, those caught performing dangerous manoeuvres such as weaving or excessive speeding, or engaging in road racing, face fines of up to VNĐ50 million ($1,963) for car drivers, while motorcyclists engaging in similar behaviour face fines of up to VNĐ10 million ($392).— VNS

Authorities also seized 169 cars, 8,147 motorcycles and 245 other vehicles, along with revoking 4,261 driving licences.

Traffic police handle over 25,000 violations in two days of new heavier penalties taking effect

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2025/1/3/397988_5051577205287334_720250103170130.jpg" alt=""></figure></td></tr><tr><td>Two international undersea cables are still facing issues. (Illustrative image. Source: cnbc)</td></tr></tbody></table></figure>HÀ NỘI – Despite the full restoration of the Asia-Africa-Europe-1 (AAE-1) undersea cable, two other international undersea cables are still facing issues, which are affecting Việt Nam's internet connection speed and service quality to international destinations.International partners have not yet provided a timeline for resolving the issues on the IA cable to Vietnamese Internet Service Providers (ISPs). For the Asia-Pacific Gateway (APG) cable, the problem with branch S8 is expected to be fixed between January 6 and 10, while the issue with branch S1.9 still lacks a specific repair date. This information was provided by an ISP representative in Việt Nam on January 3.On December 31, 2024, Việt Nam successfully reconfigured the AAE-1 cable’s branch S1H5 after repairs, restoring international connections between Việt Nam, Hong Kong (China), and Singapore. However, the APG and Intra Asia (IA) cables continue to experience disruptions.Specifically, the APG cable is facing issues on two branches – S1.9 and S8 – which connect Việt Nam to Malaysia and Thailand, respectively. The IA cable has been encountering problems since December 26, 2024, on branch S1, which connects Việt Nam to Singapore. This has resulted in a complete loss of connectivity between Việt Nam, Hong Kong, and Singapore.Recognising the vulnerability of Việt Nam's international undersea cable connections, the Ministry of Information and Communications launched the Việt Nam international cable system development strategy in June 2024, prioritising the expansion of new cable lines.According to the strategy, by 2030, Việt Nam aims to add at least 10 more undersea cable lines, bringing the total to at least 15 international cables.Additionally, the national digital infrastructure strategy, approved by the Prime Minister in October 2024, underscores the goal of ensuring global data communication and exchange. By 2025, Việt Nam plans to introduce at least two new undersea cables and anticipates adding at least eight more by 2030. -- VNS

International partners have not yet provided a timeline for resolving the issues on the IA cable to Vietnamese Internet Service Providers (ISPs).

Undersea cable problems affect Việt Nam's Internet connections

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2025/1/2/396511_lao1.jpg" alt=""></figure></td></tr><tr><td>A newly built, spacious house of an ethnic Laotian family in Măng Rao Village, Đăk Glei District. VNA/VNS Photo</td></tr></tbody></table></figure>Kon Tum Province, which shares over 290km of border with Laos and Cambodia, has witnessed a remarkable demographic change. Following the policies of the Vietnamese Government, many Laotian residents in the border areas of Central Highlands province have been granted Vietnamese nationality.Lives of transienceBefore 1987, a number of Laotian residents near the border with Đăk Glei District (Kon Tum) lived a transient life due to a lack of nationality.A Đào, 67, a resident of Măng Rao Village, Đăk Pék Commune, Đăk Glei District, said that many years ago hundreds of Laotians, driven by failed harvests in their country, crossed the border into Việt Nam searching for arable land to settle on. At that time, borders held little meaning for those people, who adhered to traditional practices of nomadic cultivation.Living without electricity, roads, schools, healthcare, clean water, or access to local economic support policies made the illegal migrants' life extremely challenging.“We had no identification documents, no records and no personal papers. Our children couldn’t attend school, and we had no access to public medical care. All we had was a temporary residence permit issued jointly by the border authorities of Việt Nam and Laos,” said Đào.Some individuals endured precarious lives in the forests, relying on hunting, foraging, and drinking from streams, living a life reminiscent of earlier eras. Their isolation meant living in constant fear of wild animals and natural disasters, cut off from news or contact with the outside world for long periods.The most difficult times came during illness, with villagers enduring a gruelling one-or-two-day trek to carry the sick to the district health centre in Đăk Glei. After countless life-and-death moments, the Laotian migrants yearned for the stability and recognition of nationality to escape from their desperate and transient existence.Local authorities in Kon Tum have since 2017 intensified efforts to raise awareness about unauthorised migration and unregistered marriages in border areas. They have distributed leaflets and collaborated with central and provincial agencies to process applications for the President’s approval, granting nationality to stateless migrants. This has facilitated the issuance of birth certificates, household registration books, and ID cards in accordance with the Vietnamese law.Turning a new pageSince 2009 more than 1,000 ethnic Laotians in Kon Tum have been granted Vietnamese nationality by the President. Most reside in border communes in Ngọc Hồi and Đăk Glei districts. To support their stable residence, local authorities have ensured the issuance of birth certificates, household registration books, and ID cards, enabling full citizenship rights. School-aged children now attend school, and families receive support for education and economic development.“When we were granted Vietnamese nationality in 2012, our joy was indescribable,” said A Diệt, secretary of the Măng Rao Village Party Committee.“Our children were officially registered, and we received household registration books. The State invested in electricity, roads, schools, and healthcare centres. Many families received loans to raise livestock and grow crops, lifting them out of poverty. Thanks to these changes, the community is increasingly optimistic and deeply trusts the leadership of the Party and the State.”<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2025/1/2/396512_trem.jpg" alt=""></figure></td></tr><tr><td>Naturalised Laotian Vietnamese children in Kon Tum Province attend school and benefit from support and assistance from the government. VNA/VNS Photo</td></tr></tbody></table></figure>For elderly A Chang of Măng Rao Village, the privilege of voting for the first time was profound. “Holding the ballot in my hand was a sacred and proud moment. It made us feel grateful to the government,” he said.The border areas of Kon Tum are home to 25 ethnic groups with nearly 61,600 members. Ethnic minorities make up over 77 per cent of the population, residing in 99 hamlets and villages across 13 communes in the four border districts of Đăk Glei, Ngọc Hồi, Sa Thầy, and Ia H’Drai.Ngọc Hồi and Đăk Glei district authorities have directed border communes to allocate land, provide seeds and breeding livestock, and offer technical guidance for economic development. Households also have access to low-interest loans from the Social Policy Bank to build homes, fostering a strong connection to their new homeland.Y Điết, a resident of Đăk Mế Village in Pờ Y Commune, said that after acquiring nationality in 2017, her family received coffee seedlings and breeding cattle. With guidance from officials on husbandry techniques, her family now earns nearly VNĐ100 million (nearly US$4,000) annually, significantly improving their quality of life.According to Tống Văn Đồng, chairman of the Pờ Y Commune People’s Committee [administration], the commune currently has 12 naturalised citizens, all of whom have received comprehensive support from local authorities.“With this assistance, they have quickly integrated into life in Việt Nam and feel secure in their livelihood. We will continue integrating national target programmes to help these ethnic Laotian households achieve sustainable poverty alleviation,” he said.Y Lan, vice chairwoman of the Ngọc Hồi District People’s Committee, said that naturalised families had united with other local ethnic groups, overcoming challenges, fostering solidarity, and actively participating in patriotic movements. These ethnic Laotians preserved their cultural traditions while maintaining cross-border family ties, acting as vital “bridges” in fostering the traditional friendship between Việt Nam and Laos, and contributing to a peaceful and prosperous border region.Granted Vietnamese nationality, these former Laotian migrants have embraced a brighter chapter in life. With improved living conditions and secure futures, they abide by the law, unite with other communities to build a new, prosperous homeland, and serve as pivotal “nuclei” in strengthening the friendship, solidarity, and comprehensive cooperation between Việt Nam and Laos. VNS

Granted Vietnamese nationality, former Laotian migrants have embraced a brighter chapter in life.

A fresh start: Ethnic Laotians thriving as Vietnamese nationals

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2024/12/20/395482_5039602172389225_vna_potal_canada_tim_hieu_ve_de_an_1_trieu_ha_lua_chat_luong_cao_phat_thai_thap_tai_can_tho_7767512.jpg" alt=""></figure></td></tr><tr><td>The Cần Thơ agricultural sector's representative introduces a pilot model of high-quality and low-emission rice cultivation to the Canadian Embassy's delegation. — VNA/VNS Photo</td></tr></tbody></table></figure>CẦN THƠ — A delegation from the Canadian Embassy in Việt Nam, led by Francesca Bellone, Head of Cooperation, on Friday visited Thuận Tiến Cooperative in Vĩnh Thạnh district, the Mekong Delta city of Cần Thơ, to learn about the pilot implementation of a project aiming to develop one million hectares of high-quality, low-emission rice cultivation.The visit is intended to aid in the exchange information and promote dialogue between Việt Nam and Canada on sustainable agricultural development, contributing to efforts to address climate change challenges.During the visit, the delegation engaged in discussions with the city Department of Agriculture and Rural Development, cooperative representatives, rice farmers, businesses, and related agencies about the project’s challenges and opportunities.Nguyễn Cao Khải, Director of the Thuận Tiến Cooperative, said that cooperative members had received training to participate in the pilot project. Farmers have embraced the recommended low-emission, high-quality rice cultivation practices and implemented them collaboratively.The cooperative currently cultivates 50 hectares of rice with partial financial support. After two crops, members reported notable success, including reduced input costs and increased income of VNĐ1–6 million (approximately US$39–236) per hectare compared to traditional methods. Additionally, rice straw is now repurposed for mushroom cultivation, generating additional income while eliminating field burning and its associated emissions.Low-emission rice farming not only boosts farmers’ income but also safeguards their health and protects the environment by minimising the use of fertilizers and pesticides, Khải emphasised, adding that the cooperative plans to continue expanding this sustainable production method even after the pilot project ends.Recognising the potential of low-emission rice, Hoàng Minh Nhật JSC in Thới Lai district, Cần Thơ city, has joined the project. According to Lê Hải Triều, a company representative, Hoàng Minh Nhật exports rice to markets in Europe and Canada and collaborates with Japanese exporters to establish a "low-emission rice" brand for the Mekong Delta.To access demanding international markets, strict control over pesticide residues and microelements in rice is essential. To meet these standards, the company has worked closely with farmers, introducing them to suppliers of fertilizers and pesticides that comply with the project’s guidelines, he said, adding that this collaboration reduces input costs, increases farmers’ incomes, and ensures that rice meets export-quality standards.“To encourage farmers to adopt low-emission, high-quality rice cultivation, we offer a price bonus for every kilogram of rice that meets quality and standard requirements,” Triều added.During her first visit to observe this innovative rice production model, Bellone highlighted the importance of low-emission and high-quality rice fields, saying that initiatives like these address significant challenges for Vietnam and play a crucial role in helping the country achieve its net zero commitments. — VNS

The visit is intended to aid in the exchange information and promote dialogue between Việt Nam and Canada on sustainable agricultural development, contributing to efforts to address climate change challenges.

Canadian delegation explores low-emission, high-quality rice farming model in Cần Thơ

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2024/12/20/395502_19.jpg" alt=""></figure></td></tr><tr><td>The patients under treatment. — Photo&nbsp;sggp.org.vn</td></tr></tbody></table></figure>HÀ NỘI —&nbsp;A banquet in Hà Nội tragically resulted in two deaths and the hospitalisation of 15 others, with suspected alcohol poisoning being the cause.The event, organised by NBC Pacific Co. Ltd. on December 19 at a conference centre in Long Biên District, was attended by approximately 80 guests. What began as a routine gathering soon turned into a health emergency.Guests reported symptoms such as headaches, dizziness, and nausea shortly after the meal. By the following day, two attendees had died, and many others required urgent medical attention.Among the 15 hospitalised, 13 are being treated at Bạch Mai Hospital’s Poison Control Centre. While they initially experienced symptoms including nausea, dizziness, and mild fever, their conditions have since stabilised.One patient remains in a coma on a ventilator at Đức Giang General Hospital. His symptoms included severe agitation and cyanosis, and tests revealed a dangerously high methanol concentration of 2.7 mg/dL in his blood. Another patient, receiving treatment at Nghệ An General Hospital, is reportedly showing signs of recovery.Preliminary investigations revealed the banquet featured an extensive menu, including seafood soup, roasted chicken, steamed fish, and desserts.Guests reportedly consumed 8 litres of the 20 litres of white liquor brought in by a driver during the event. Additionally, two bottles of unidentified origin were used.Following the banquet, six attendees dined at another restaurant in Giang Biên Ward, raising concerns about possible secondary exposure.Hà Nội's Food Safety Department has confirmed that the organisers met food safety certification requirements and verified the origins of the food served. Authorities have collected samples of approximately 50 litres of liquor for testing, but the exact cause of the incident remains under investigation. — VNS

Guests reported symptoms such as headaches, dizziness, and nausea shortly after the meal. By the following day, two attendees had died, and many others required urgent medical attention.

Hà Nội banquet leaves two dead, 15 hospitalised

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2024/12/20/395491_5039625991536925_vna_potal_khai_mac_trien_lam_quoc_phong_quoc_te_viet_nam_2024_7765487.jpg" alt=""></figure></td></tr><tr><td>Prime Minister Phạm Minh Chính visits an exhibition area of ​​the Viettel Military Industry and Telecoms Group (Viettel). — VNA/VNS Photo</td></tr></tbody></table></figure>HÀ NỘI — The Viettel High Technology Industries Corporation (VHT), a subsidiary of the the Viettel Military Industry and Telecoms Group (Viettel), announced on Friday that it has received a certification from the Ministry of Defence, and the Army of Malaysia, recognising that Viettel's military communication products meet standards to be supplied to the Malaysian Army.A ceremony to hand over the certification took place at Viettel's exhibition area at the ongoing Vietnam International Defence Expo 2024 in Hà Nội.Previously, Viettel's products underwent extensive testing in Malaysia in harsh combat conditions. The tests were conducted by the Malaysian Army, an experienced unit in evaluating and testing military products in accordance with NATO standards. Viettel's products successfully passed all quality and performance tests, with some parameters even exceeding the standards of similar products tested in Malaysia.VHT General Director Nguyễn Vũ Hà said this certification helps strengthen Viettel's position in the international market, particularly in Malaysia, where there was previously limited information about Vietnam's capability in researching and producing hi-tech defence products, adding that the event helps promote defence cooperation between Vietnam and Malaysia, expanding business opportunities of Viettel in Malaysia.Military communication products mark the beginning and lay the foundation for other product lines of Viettel, such as radar, optoelectronics, and electronic warfare to make deeper inroads into this Southeast Asian market, he stressed.Viettel has applied the latest technologies in the world to design and manufacture fourth- and fifth-generation military communication devices. It has mastered core technologies such as Artificial Intelligence (AI), and AI-based high-speed broadband adaptive communication technologies.Badrul Hisham bin Ahmad Badarudin, Director of MIM Defense of Malaysia said after signing the cooperation agreement, the firm, together with Viettel, conducted testing and evaluation of various communication equipment. The evaluation results from the Malaysian Ministry of Defence showed that Viettel fully meets Malaysia's standards. He added that MIM Defence will continue working with Viettel to supply military equipment to the Malaysian market in the future.Earlier, at the 18th Defence Services Asia (DSA) and the third National Security Asia (NATSEC Asia) exhibitions in Malaysia in May, the VHT inked a strategic cooperation agreement with MIM Defense to develop international business. This strategic partnership allows the two companies to explore business opportunities in domestic and international markets, while tapping collective strength to develop their business in the Southeast Asian region. — VNS

VHT General Director Nguyễn Vũ&nbsp;Hà&nbsp;said this certification helps strengthen Viettel's position in the international market, particularly in Malaysia, where there was previously limited information about Vietnam's capability in researching and producing hi-tech defence products, adding that the event helps promote defence cooperation between Vietnam and Malaysia, expanding business opportunities of Viettel in Malaysia.

Viettel's hi-tech products meet standards for supply to Malaysia

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2024/12/13/393870_KP2.jpg" alt=""></figure></td></tr><tr><td>Officials and partners join a grand opening ceremony of the aviation factory of the Korean KP Aerospace Việt Nam at Đà Nẵng Hi-tech Park. — VNS Photo Công Thành</td></tr></tbody></table></figure>ĐÀ NẴNG — The KP Aerospace Việt Nam company from the Republic of Korea officially opened a factory at Đà Nẵng Hi-Tech Park after 10 months of construction, marking the second aerospace industry project in the city.The factory, which was built with an investment of US$20 million, will produce, process and assemble aircraft parts, including auxiliary engine doors, wing boxes, gliders and left-wing support systems for Boeing 787 and Boeing 737 Max aircraft.It will supply products made in Đà Nẵng to leading companies in the aviation industry, including Boeing, Airbus and Korean Air.Lee Jai Choon, president and general director of KP Aerospace Việt Nam company (KPC VINA), said he paid his first visit to Đà Nẵng last June, and is now inaugurating the factory one year later.“It’s my honour to be here at the grand opening ceremony of the factory after a short time. I sincerely express my thanks for the support from the Vietnamese Government, relevant agencies, local authorities, universities and contractors in helping us building a milestone on schedule,” he said.“We believe that strong cooperation among partners, local authorities and workers will contribute to drastic overall development, while creating more new opportunities in the future. KPC VINA will be a key foundation of Việt Nam’s aviation industry, a typical business in the socio-economic development of Việt Nam. We will also all do our best to be a trusted partner of Korean Air and Boeing.”<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2024/12/13/393869_KP.jpg" alt=""></figure></td></tr><tr><td>KP Aerospace Việt Nam factory is completed after a 10-month construction at Đà Nẵng Hi-tech Park. It's the second aviation industries project at the park. — VNS Photo Công Thành</td></tr></tbody></table></figure>Jihoon Park, manager of KP Aerospace Vietnam, said: “When we started this project, many people said it was impossible to do everything in one year, but nothing is impossible in Đà Nẵng. And now, 10 months from the groundbreaking ceremony, we are holding a grand opening ceremony.”“We are working on the Boeing 787 Dreamliner’s raked wing tip assembly, which is one of the most important aerodynamic parts in the world. I think nobody will believe that this part is being manufactured in Đà Nẵng, as Đà Nẵng is generally known as one of the most beautiful places to travel,” he said.Park said the company has started to transfer aircraft part manufacturing technology to the city, and has sent Vietnamese employees to Korea for job training and technology transfer.He said the factory will be filled with aircraft parts for export, and that it will have the necessary facilities to build huge aircraft parts in Đà Nẵng.“We will be dedicated to the sustainable growth of our aerospace business, and building an aerospace cluster in Đà Nẵng Hi-Tech Park,” he said.Vice Chairman of Đà Nẵng City People's Committee Trần Chí Cường said that the inauguration of the KP Vina Aerospace Component Manufacturing Factory is a significant milestone not only for the company's development, but also for the overall economic growth of Đà Nẵng and Đà Nẵng Hi-Tech Park.He said Đà Nẵng is committed to creating the most favourable conditions for investors, and that KP Aerospace will contribute to the sustainable development of the aerospace industry and positively impact the local economy.Consul General of South Korea in Đà Nẵng Kang Boo Sung said the introduction of the factory would help strengthen cooperation between South Korea and Đà Nẵng in many sectors, including hi-tech industries.Investment from South Korea to central Việt Nam has a lot of potential, as 250 Korean businesses have invested in the region, he said.Việt Nam and Korea have set a target of reaching US$150 billion in bilateral trade turnover in 2030, he noted, adding that Đà Nẵng is seen as a favourite destination for Korean visitors.Michael Nguyễn, executive director of Boeing Việt Nam, said Boeing has committed to a sustainable relationship and cooperation with Việt Nam in building global supply chains.<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2024/12/13/393871_KP3.jpg" alt=""></figure></td></tr><tr><td>A working space of the aviation industries factory of the KP Aerospace Việt Nam from Korea. It produce, process, and assemble aircraft parts, including auxiliary engine doors, wing boxes, gliders, and left-wing support systems of Boeing 787 and Boeing 737 Max. — VNS Photo Công Thành</td></tr></tbody></table></figure>He said Boeing hosted the first forum on the aviation industry in Hà Nội in 2022, and that KP Aerospace was among 200 participants at the event.The inauguration of the factory marked a significant milestone not only for the residents of Đà Nẵng, KPC VINA and KP Aerospace Việt Nam, but to all contributors to the event, he added.The factory was designed to produce the aft body, APU door, MIC wing tip, raked wing tip, wing box, winglet, flap fairing support and aircraft metal fabrication facilities for Boeing 737, 787 and 737 Max aircraft in two phases.The Korean investor had earlier inked an agreement on support and investment promotion, education, employment and research with partners including the Đà Nẵng Hi-Tech Park and Industrial Zones Authority, Đà Nẵng University of Science Technology under Đà Nẵng University and Korean Air.This is the second investment project in aviation and aerospace technologies in the park, after Đà Nẵng Sunshine Aerospace under the Universal Alloy Corporation from the US was put into operation in 2020. — VNS

The KP Aerospace Việt Nam company from the Republic of Korea officially opened its factory at Đà Nẵng Hi-Tech Park after 10 months of construction, marking the second aerospace industry project in the city.

Korean investor opens aerospace factory in Đà Nẵng

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2024/12/13/393872_5033410590997727_PVI%20(6).jpg" alt=""></figure></td></tr><tr><td>Trần Thu Hà, Director of the Secretariat and Public Relations Department, presents the company's results at PVI’s Investors’ Meeting on Thursday. — Photo courtesy of PVI</td></tr></tbody></table></figure>HÀ NỘI — PVI, the leading player in Việt Nam’s non-life insurance market, is on track to reach a total revenue of VNĐ20 trillion (US$787.4 million) by the end of 2024, with ambitious plans to become a billion-dollar company on the stock market.Its consolidated pre-tax profit is projected to hit VNĐ1.08 trillion.The company currently holds a 18.2 per cent market share, maintaining its position as the largest market shareholder and the only one to see an increase in market share this year.In the first three quarters of 2024, PVI reported impressive growth in key areas, including a 27 per cent increase in gross insurance premiums, which is double the average market growth.Its consolidated revenue for the first nine months exceeded VNĐ16.7 trillion, up 46 per cent year-on-year. However, the consolidated pre-tax profit reached only VNĐ979 billion, down 6 per cent year-on-year, due to an increase in provisions for claims arising from Typhoon Yagi.PVI has achieved significant milestones this year, including two capital increases, bringing its charter capital from VNĐ3.3 trillion to VNĐ3.9 trillion, solidifying its market leadership.It is also the only insurance company in Việt Nam to have received an A- rating (Excellent) from AM Best, further cementing its credibility.Market potentialThe non-life insurance sector in Việt Nam holds substantial growth potential.According to the government’s market development strategy, the insurance industry aims to reach 3-3.5 per cent of GDP by 2025, but the current figure stands at only 2.2 per cent. This figure is notably lower than the industry average in the ASEAN region, which is 3.35 per cent, and well behind the average for Asia at 5.37 per cent and the global average of 6.3 per cent.This presents significant opportunities for expansion, with a projected 8.3 per cent annual growth rate for the sector over the next five years, said Trần Thu Hà, Director of the Secretariat and Public Relations Department at PVI’s Investors’ Meeting on Thursday.The non-life insurance market has recovered significantly from a low 3-per-cent growth rate in 2023, with nine-month premium revenue growth reaching 12.8 per cent compared to the same period last year. The top six companies all showed positive growth, including Bảo Viet (5.2 per cent), Bảo Minh (14.3 per cent), MIC (7.8 per cent) and Vinashin (14.7 per cent).PVI is playing a key role in driving industry growth, with gross insurance premiums rising by 27 per cent in the first nine months of 2024, significantly outperforming the market.Hà said the company’s leadership has been particularly evident in the reinsurance market, where PVI continues to dominate. Its reinsurance revenue grew by 115 per cent in the same period, reflecting its strong market position.As for payments due to losses from Yagi, PVI has disbursed and advanced VNĐ70 billion as of December 6.Despite a reduction in net profit due to rising claim costs, primarily from the impact of Typhoon Yagi, PVI’s robust financial management has enabled it to weather the challenges. The company’s reinsurance strategy, which involves a solid partnership with top-tier international reinsurers, has been crucial in managing large and complex risks. This expertise allows PVI to remain competitive, particularly in the reinsurance sector, where the company has outpaced domestic competitors.Looking ahead to 2025, PVI aims to strengthen its market leadership through a series of strategic initiatives, including digital transformation, sustainable development, and enhanced risk management practices. The company is also planning further capital increases during the 2025-2029 period to maintain its competitive edge. — VNS

PVI, the leading player in Việt Nam’s non-life insurance market, is on track to reach a total revenue of VNĐ20 trillion (US$787.4 million) by the end of 2024, with ambitious plans to become a billion-dollar company on the stock market.

PVI on track to hit VNĐ20 trillion in revenue in 2024, cementing market leadership

<figure class="table"><table><tbody><tr><td><figure class="image"><img src="https://image.vietnamnews.vn/uploadvnnews/Article/2024/12/13/393868_5033396813062241_vungtau%20flash%20sale.jpg" alt=""></figure></td></tr><tr><td>Residents in Vũng Tàu City browse goods at the event. The flash sale gives consumers the opportunity to access premium goods at affordable prices. — VNA/VNS Photo</td></tr></tbody></table></figure>BÀ RỊA–VŨNG TÀU — A flash sale event of premium branded goods was launched in Vũng Tàu City on Friday to enhance the shopping experience for local residents and boost the local economy.The 'Branded Goods Promotion – Flash Sale Holiday 2024' event is being held at the Aurora Event Center at 169 Thùy Vân in Vũng Tàu's Ward 8.Open from 9am to 10pm daily until Sunday, the sale is expected to attract thousands of visitors.The shopping space features over 120 booths from more than 300 famous global brands such as Gucci, Dior, Chanel, Adidas and Burberry.Many products will be offered at discounts of up to 80 per cent, providing consumers the opportunity to access premium goods at affordable prices.Speaking at the opening ceremony, Phạm Quang Nhật, director of the Department of Industry and Trade of Bà Rịa–Vũng Tàu Province, said that the event is an significant part of a programme to boost consumption and trade and contribute to developing the local economy.The event aims to achieve three key objectives: creating opportunities for businesses and merchants in the province to connect directly with consumers, promoting the consumption of high-quality goods and establishing Bà Rịa–Vũng Tàu as a sophisticated, modern shopping and tourism hub, attracting both domestic and international tourists.Bà Rịa–Vũng Tàu is the second locality to organise a large-scale branded goods shopping event after HCM City, which reflects the province’s strategic vision to develop its economy through high-quality commercial activities. — VNS

The shopping space features famous global brands such as Gucci, Dior, Chanel, Adidas and Burberry.

Premium shopping event launched in Vũng Tàu City

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TNH99 Vietnam joint stock company is a multi-sector investment management company. Currently, TNH99 focuses on media, marketing, real estate, health care, F&amp;B and trading. TNH99 Vietnam always defines the customer benefits as the core value in it’s development strategy. We have been incessantly inovating, creating new values, complying with, committing to respect and consistently enforcing the common principles of conduct that make up TNH99 culture. Each member of TNH99 Vietnam has so much enthusiasm, devotion. They understand that interests of the company as well as its customers and social responsibility are focused.TNH99 currently has over 26 subsidiaries and affiliates throughout the country. At TNH99, more than 300 employees, experienced professionals, industry-leading experts, senior advisors and an open knowledge system provide a solid foundation for sustainable development.PRINCIPLES OF OPERATIONFollowing the "for human development" philosophy, TNH99 constantly searches and researches the needs of human and social trends. With the visionary leadership and management as well as young and professional staff, we are constantly growing and affirming our brand in the fields in which we operate in the Vietnamese market.CORE VALUESPeople are the most important resource, helping to create the values and differences of TNH99. They have the knowledge, qualifications and experience that are constantly accumulated and developed.The employees of TNH99 also have the unique characteristics of the Vietnamese people and industries. They always unite, strive towards professionalism, absorb and behave appropriately in communication with customers.Besides, leadership capacity is a key factor that helps TNH99 plan and successfully implement the sustainable development goals, promote the use of advanced management systems and tools, make accurate and timely decisions.Orientation to improve social responsibility, value management is applied at TNH99 to create a culture of effective work, productivity and quality. These values ​​are shared by TNH99 leaders and staff with partners and customers.TNH99 is committed to behave and operate with the following values: Efficiency, Quality, Straightforward, Enthusiastic, Professional.QUALITY POLICY:Meet the needs and satisfy customers by the highest quality of organization and service;Regularly research, apply and develop advanced technology to improve product quality, service and competitiveness in the field of operation;Identify and provide sufficient resources to ensure effective implementation of the quality management system.DEVELOPMENT ORIENTATIONWith a joint-stock operating model, we are still consistent with the tagline "We grow business", in which the principle of human resource development is an important step, governance is an important phase and promoting corporate culture is a regular task. Oriented solutions and services of TNH99 helps businesses to create sustainable added values ​​for people.We are committed to providing the most effective and practical services for Vietnamese businesses and the world for sustainable joint development.We always keep in mind, cherish and create products that constantly meet the expectations of the business community.We behave and cooperate based on civilized values ​​while promoting the cultural identities of VietNam.

About Us

In order to remain attractive to both customers and investors in the long run, businesses and brands must not only be strong enough in terms of technical facilities, advanced technology equipment, human resources ... but also must make efforts to build and promote their brand names and identities, in which communication plays an important role.Over the past 10 years, having a creative, experienced team and high-quality event equipment system, customers' trust, TNH99 has been successful with more than 3,000 events in various fields across the territory of Vietnam: Conferences, seminars, conventions, sports tournaments, festivals, exhibitions, fairs, etc. Those events bring great success to customers and make a strong impression as well as far-reaching effects in society.We’ll assess the situation, offer a clear perspective and guide you to consider all angles. TNH99 will help you develop a plan to ensure you are communicating with your customers, partners, public and press in an appropriate and timely manner.Whether you’re running your own business, or just starting out on your business career, you’ll need to be a great communicator! We are here to help you make a perfect communication strategy.

Communication

Nowadays the formula for business success is simple: drive innovation with information technology. So, the first thing startups in any industry try to figure out is how to make smart IT choices. Without a backbone of information technology, a business is not going to go far.At TNH99, we provide services: Investment, development, and management of assets of information technology systems and platforms; exploiting the business operating system, ensuring the safety and information security for TNH99 products and IT services provided to customers.We always listen to customer feedback and absorb; advises customers on the best solution with the commitment:•&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Customer satisfaction: We guarantee to meet the service as committed to the customer. Customer satisfaction is the foundation for TNH99's existence and development.•&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Complete the work on time: The structure of TNH99 aims to perform the job as quickly and optimally as possible.•&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality is the key: Our team of experts work with high morale to provide customers products and solutions of perfect quality thereby helping to enhance the repeat cooperation of customer.•&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Latest technology: The products are based on the most advanced modern technology.

Infomation Technology

THN99's restaurant chain gives À la carte diners the impression of a luxurious, modern space designed by famous architects. Each seating area, each room is designed with separate space. Strictly recruited chef team ensures excellent quality for the signature dishes requested by customers.Our restaurant also leads the way in guaranteeing our customer’s health. With slogan “Fresh food and best products used to make sure the food maintains a high quality, without recycled cooking oil and food coloring”, considerate and honest service, reasonable prices, food and safety hygiene, it attracts local and international guests.Our wine list was composed by Vietnamese and French connaisseurs and all selections were made while sampling the menu with our own Chef along with other Vietnamese chefs.Enjoying the scrumptious food, sipping a glass of passionate wine under the enormous sky while the melodious music is a kind of exciting and emotional experience that we provide for our guests.THN99 pride ourselves as the leader in bringing a quantum value leap to the F&amp;B industry. We are constantly redefining boundaries, creating novel products and services that perfectly address the needs of the F&amp;B industry.<figure class="image"><img src="http://localhost:5000/images/eugenia-clara-Q_hMTpKu5qg-unsplash_ef111_20241118084213.jpg"></figure>&nbsp;

Our Expertise

THN99 seamlessly brings together our strategic advisory services with our superior execution services to create meaningful outcomes for our clients.Whether you’re a real estate professional, member of a community association, or commercial property owner, we have the services, contacts, technology and know-how to guide you through the sales, leasing and management process from beginning to end, no matter your needs.Following the motto "Prestige and quality are put on the top", we always ensure the quality of prestigious products.Our team constantly change according to the general trend of the real estate market in terms of models, customer needs in order to bring customer satisfaction.Operation fields:•&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brokerage services for offices, shops, houses•&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consulting services for leasing land, factory and industrial park•&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Services for rent apartments, villas, private houses for foreigners.

Real Estate

We understand that health always comes first. TNH99 have prioritized improving the quality of services in the chain of companies, hospitals and clinics to meet the needs of the people. Medical staff have much experience of medical examination as well as treatment, equipment and tools for examination or treatment for patients are modern.In addition, we understand that the rapid development of IT strongly affects every aspect of human life, especially in the health sector. We have step by step created IT applications in the field of medicine with the goal of building a healthy community, in which each individual plays an active role in decisions related to his own health. We help people manage lifelong health in a smart, scientific and professional way to live a safe, long and healthy life.