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Boat Racing Festival in Vientiane Draws Crowds, Celebrates Culture

The entrance of the Boat Racing Festival (Photo supplied)

Every October, the excitement of the Lao people comes alive during the Boat Racing Festival, known locally as Boun Suang Huea. Celebrated nationwide, the festival in Vientiane draws locals and visitors to the Mekong riverside, where they gather to cheer for their favorite boat teams.

BRICS Expansion: What it Means for Malaysia’s Economic Future, According to Global Broker Octa


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 17 October 2024 – BRICS represents a formidable economic bloc that significantly influences global trade and geopolitics. In January, the alliance of Brazil, Russia, India, China, and South Africa formally welcomed Egypt, Ethiopia, Iran, and the United Arab Emirates into its fold. Recent discussions have focused on expanding BRICS to include nations like Malaysia and Indonesia, presenting these countries with new economic opportunities and potential benefits. Octa, a broker with globally recognised licences, examines how BRICS expansion could transform the economic landscape for these Southeast Asian powerhouses, potentially enhancing their trade partnerships, technological collaborations, and economic resilience.

Octa

Malaysia’s BRICS Prospects: Economic Implications
Malaysia, strategically positioned as a key player in Southeast Asia, has shown interest in the BRICS expansion. The country’s GDP growth, which stood at 5.9% in Q2 2024, reflects its economic strength and potential for further development. By joining BRICS, Malaysia could significantly enhance its trade volume, particularly in high-growth sectors like technology and renewable energy. The BRICS bloc, which already commands nearly 30% of global GDP, offers an expanded market access that could further boost Malaysia’s export industries, particularly electronics and semiconductors.

Malaysia’s role as a semiconductor hub could become even more influential through BRICS membership. As the global semiconductor market is expected to reach $803 billion by 2030, Malaysia’s collaboration with BRICS countries could help secure its place in the global supply chain. Additionally, partnerships with BRICS members like China and India could lead to joint ventures in technological development, further integrating Malaysia into the global tech landscape.

Indonesia’s Potential BRICS Membership and Economic Growth
Indonesia, Southeast Asia’s largest economy, has shown a proactive approach towards BRICS membership. With a GDP growth rate of 5.05% in Q2 2024 and a stable inflation rate of 1.8% in September 2024, the country is positioning itself as a crucial player in the region. By joining BRICS, Indonesia could access expanded trade networks, attracting investments in key industries like manufacturing, energy, and agriculture.

BRICS membership could be especially beneficial for Indonesia’s manufacturing sector, which accounted for 20% of the country’s GDP in 2023. China’s investments in Indonesia’s infrastructure projects, amounting to over $40 billion in the last five years, highlight the potential for increased cooperation. If Indonesia joins BRICS, these collaborations could intensify, leading to further economic growth and development.

Kar Yong Ang, a financial market analyst at Octa Broker, explains, ‘For Indonesia, BRICS offers both an opportunity for economic growth and a strategic platform for expanding its influence in global trade. With stronger ties to BRICS countries, Indonesia can accelerate its development goals, particularly in infrastructure and energy sectors, thereby enhancing its economic position.’

Regional Cooperation and Growth Opportunities
Malaysia and Indonesia’s potential involvement in BRICS could significantly impact regional cooperation within Southeast Asia. Their membership could encourage the alignment of trade agreements and economic policies within ASEAN and BRICS, fostering a collaborative approach to economic development. By integrating BRICS initiatives with ASEAN’s regional goals, Malaysia and Indonesia could enhance trade ties and investment flows, particularly in technology, manufacturing, and green energy sectors.

For instance, Indonesia’s growing renewable energy sector, which aims to generate 23% of the nation’s electricity from renewables by 2025, could benefit from BRICS partnerships. Given its advancements in digital technology and green energy, Malaysia could also attract investment from BRICS nations interested in Southeast Asia’s tech and energy markets.

A New Economic Chapter for Southeast Asia
Malaysia and Indonesia’s potential BRICS membership represents a significant shift in Southeast Asia’s economic trajectory. For these nations, joining BRICS means expanding trade networks, securing technological partnerships, and accessing new investment opportunities. This evolution not only promises growth for Malaysia and Indonesia but also enhances the region’s role in global trade.

As BRICS expansion unfolds, staying informed on these developments is crucial for traders and investors seeking opportunities in these markets. With Octa Broker’s expertise in tracking global economic trends, traders can navigate these changes effectively, making informed decisions to capitalise on emerging opportunities in Southeast Asia’s evolving economic landscape.
Hashtag: #Octa

The issuer is solely responsible for the content of this announcement.

Octa

is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.

Cleaner Air in your Home: AkzoNobel launches the new Dulux Ambiance™ All AirClean


SINGAPORE – Media OutReach Newswire – 17 October 2024 – Akzo Nobel Paints (Singapore) Pte Ltd proudly introduces the new flagship Dulux Ambiance All AirClean, an innovative paint formulated with PureAir™ Technology to deliver cleaner indoor air. This breakthrough product represents AkzoNobel’s commitment to delivering solutions that can bring health and well-being advantages to its customers.

Dulux Ambiance All AirClean
Dulux Ambiance All AirClean

Poor indoor air quality can arise from various sources, with common culprits including volatile organic compounds (VOCs), mould, dust, and chemical emissions from building materials and furniture. Pollutants like formaldehyde – a volatile organic compound commonly found in household items and is a known carcinogen, and chronic exposure, even at low levels, can lead to respiratory issues, eye and skin irritation, and other serious health problems.[1] As awareness of these dangers continues to rise, so does the demand for effective solutions that can help safeguard indoor environments.

Dulux Ambiance All AirClean is designed to absorb harmful air pollutants such as formaldehyde, by converting it into harmless water molecules, offering a proactive solution to improve indoor air quality.

In a certified test under the Chinese Standard JC/T 1074-2021, Dulux Ambiance All AirClean was shown to remove more than 80% of formaldehyde from the air.[2]

With a growing demand for healthier indoor environments, Dulux Ambiance All AirClean responds to the need for both safety and aesthetics in modern homes. This innovative paint ensures that homeowners can enjoy a beautiful living space while benefiting from cleaner air, making it an essential choice for health-conscious homeowners.

“Our customers expect more from paint than just colour,” said Gordon Lee, Head of Commercial for Akzo Nobel Paints (Singapore). “Dulux Ambiance All AirClean not only beautifies interiors but also actively contributes to healthier indoor environments. This innovation is a testament to our ongoing investment in R&D to bring cutting-edge, sustainable solutions to market.”

With reports surfacing of Singaporeans falling ill due to high formaldehyde levels in their homes[3], there is now greater urgency to pursue effective solutions and stringent guidelines on limits of formaldehyde concentrations. Furthermore, improved indoor air quality also has long-term economic advantages, reducing healthcare costs linked to respiratory conditions and enhancing the overall well-being of occupants.

“We believe that everyone should feel safe in their homes. And with the introduction of Dulux Ambiance All AirClean, homeowners now have the choice to actively improve their indoor air quality. The product also boasts anti-viral, anti-bacterial, anti-mould, and anti-fungal benefits, contributing to an overall healthier indoor environment,” adds Gordon.

Dulux Ambiance All AirClean is available in a selection of more than 2,000 colour palettes for interior spaces. For more information, please visit https://bit.ly/AirCleanSG or your nearest Dulux dealer outlets.

[2] The test was conducted by a 3rd party laboratory, where formaldehyde was dosed into closed chambers and formaldehyde concentration was measured at the end of 24 hours.
[3] https://www.channelnewsasia.com/singapore/formaldehyde-wooden-furniture-homeowners-seeking-help-sick-4475181
Hashtag: #AkzoNobel #InteriorPaint #InteriorDesign

The issuer is solely responsible for the content of this announcement.

AkzoNobel

Since 1792, we’ve been supplying the innovative paints and coatings that help to color people’s lives and protect what matters most. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and use our expertise to sustain and enhance everyday life. Because we believe every surface is an opportunity. It’s what you’d expect from a pioneering and long-established paints company that’s dedicated to providing sustainable solutions and preserving the best of what we have today – while creating an even better tomorrow. Let’s paint the future together.

Cisco and CSA Collaborate to Bolster Cyber Defense for Singapore

  • Cisco signed a Memorandum of Collaboration with the Cyber Security Agency (CSA) of Singapore to enhance the nation’s cyber and digital resilience.
  • Key areas of the collaboration include threat intelligence sharing, capacity building, and talent development to meet Singapore’s security and economic needs.
  • Both parties will collaborate to enhance the nation’s cyber defense capabilities under Cisco’s Country Digital Acceleration (CDA) program in Singapore.

SINGAPORE – Media OutReach Newswire – 17 October 2024 – Cisco, the worldwide leader in networking and security, and the Cyber Security Agency (CSA) of Singapore today announced the signing of a Memorandum of Collaboration which aims to bolster the nation’s national security and digital resilience. Ms. Tay Bee Kheng, President of Cisco ASEAN, and Mr. Dan Yock Hau, Assistant Chief Executive (National Cyber Resilience) of CSA, signed the memorandum at a ceremony on the sidelines of Singapore International Cyber Week 2024.

Cisco and the Cybersecurity Agency of Singapore (CSA) sign a Memorandum of Collaboration (MOC) to enhance the nation's cyber and digital resilience. (L to R: President of Cisco ASEAN, Tay Bee Kheng and Assistant Chief Executive (National Cyber Resilience) of CSA, Dan Yock Hau)
Cisco and the Cybersecurity Agency of Singapore (CSA) sign a Memorandum of Collaboration (MOC) to enhance the nation’s cyber and digital resilience. (L to R: President of Cisco ASEAN, Tay Bee Kheng and Assistant Chief Executive (National Cyber Resilience) of CSA, Dan Yock Hau)

In an increasingly complex and interconnected world, there is a greater need for organizations to enhance their digital resilience to protect themselves from sophisticated cyber threats. In an expanded collaboration with CSA, Cisco brings the full power of the network together with market-leading security and observability. Leveraging Splunk’s security offerings and Cisco Talos’s unmatched visibility of the threat landscape, Cisco aims to offer its expertise and capabilities to contribute to the nation’s cyber and digital resilience.

Building Singapore’s Cyber and Digital Resilience

Sharing Threat Intelligence and Insights: Following the acquisition of Splunk earlier this year, Cisco now has the market-leading capabilities to provide complete visibility and insights across an organization’s entire digital footprint. It will also facilitate the cross-exchange of ideas, insights, and industry best practices with CSA and the wider cybersecurity community. Cisco Talos, among the world’s preeminent threat intelligence detection and response groups, will contribute to this effort. With its unmatched visibility across the threat landscape, seeing more than 800 billion security events per day, Cisco Talos leverages more than 60 government and law enforcement partnerships and extensive product telemetry across identity, firewalls, endpoints, and more to drive digital resilience.

Shoring Up the Country’s Defense Capabilities: As part of Cisco’s Country Digital Acceleration (CDA) program, Cisco will provide advisory support and join forces with CSA in using the latest technologies and capabilities to drive digital resilience for the country. This includes exploring new translation of cyber defense concept of operations into functional requirements and technical design and technologies for national cybersecurity initiatives.

Enhancing International Cyber Cooperation in ASEAN: On a broader scale beyond Singapore, Cisco and CSA will work together to foster an open and secure cyberspace ecosystem for Singapore and the ASEAN region. They will explore raising the baseline level of ASEAN cybersecurity through an ASEAN Cybersecurity Assessment Model (ACAM) program. Both parties will also explore the feasibility of collaborating with the ASEAN-Singapore Cybersecurity Centre of Excellence to support training and assessment initiatives in neighboring ASEAN countries.

Growing a Robust Cyber Talent Pipeline: To bridge the cybersecurity skills gap, CSA and Cisco will collaborate to develop and sustain a strong cybersecurity workforce by upskilling professionals, supporting mid-career transitions, and grooming future talents. These will be done through various initiatives, from offering tech education under Cisco Networking Academy, one of the world’s longest-running skills-to-jobs programs, in partnership with Institutes of Higher Learning to activities like security operation center training, workshops and Capture-the-Flag competitions.

Ms. Tay Bee Kheng, President of Cisco ASEAN said, “As cyber threats become increasingly sophisticated, security needs to move at machine scale. Data has become the ultimate differentiator as it enables businesses to correlate telemetry data with business context to help detect and stop issues wherever they occur. We are delighted to bring the power of Cisco Security with Talos, and now Splunk, to this collaboration with CSA to help Singapore remain digitally resilient.”

Mr. Dan Yock Hau, Assistant Chief Executive (National Cyber Resilience), CSA, said, “Cybersecurity is a team effort, and we look forward to expanding our collaboration with Cisco to enhance Singapore’s cyber resilience and its standing as a leading digital hub in the region. Through this partnership, CSA intends to explore new platforms to facilitate the cross-sharing of threat intelligence information as well as spearhead initiatives to boost the talent pipeline for Singapore’s cybersecurity workforce.”

Hashtag: #Cisco #CSA #technology #partnership #SICW2024



The issuer is solely responsible for the content of this announcement.

Cisco

Cisco (NASDAQ: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more on and follow us on X at .

Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco’s trademarks can be found at . Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.

Hong Kong Eases Visa Rules for Lao, Cambodian, and Myanmar Citizens

Hong Kong Eases Visa Policies to Attract Talents from Laos, Vietnam, Nepal
FILE: tourists gather in line at an airport in Hong Kong (photo: Xinhua)

Hong Kong has announced relaxed visa rules for nationals of Laos, Cambodia, and Myanmar, making it easier for them to apply for multiple-entry visas for travel or business. Chief Executive John Lee unveiled this change during his policy address to the Legislative Council on 16 October.

Vietnam Airlines Joins SkyTeam’s Aviation Challenge by Accelerating CO2 Offsetting and Reducing Plastic Waste


HANOI, VIETNAM – Media OutReach Newswire – 17 October 2024 – Vietnam Airlines has successfully launched an unprecedented series of initiatives to offset CO2 emissions and reduce plastic waste. These efforts represent a significant step in the airline’s commitment to sustainable development and align with The Aviation Challenge 2024 organized by the global airline alliance SkyTeam.

Students in Con Dao participated in waste collection and learned how to recycle plastic waste into eco-friendly products.
Students in Con Dao participated in waste collection and learned how to recycle plastic waste into eco-friendly products.

As part of these efforts, Vietnam Airlines has rolled out two key environmental protection campaigns: “Contributing Leaves to the Forests – For a Green and Sustainable Vietnam” and “Flying Light to Con Dao.”

The “Contributing Leaves to the Forests” campaign is a collaborative initiative among Vietnam Airlines, e-wallet application MoMo and the non-profit environmental organization Pan Nature. The campaign aims to restore 50 hectares of forest along the limestone corridor between Mai Chau District (Hoa Binh Province) and Van Ho District (Son La Province) in Northwest Vietnam. It not only focuses on reforesting the area and cutting CO2 emissions to combat climate change but also seeks to raise awareness on forest protection within local communities and conserve the region’s unique biodiversity, particularly the critically endangered white-cheeked gibbon, of which only 14 individuals remain in the region.

Launched in early June 2024, the campaign has successfully attracted over 62,000 donations from customers, leading to the restoration of more than 53 hectares of forest, equivalent to 35,000 trees, thereby exceeding the initial targets of 50 hectares and 30,000 trees.

From September to October 2024, the airline also introduced the “Flying Light to Con Dao” campaign, aimed at reducing CO2 emissions, recycling plastic waste, and promoting sustainable aviation and tourism on Con Dao Island.

Con Dao, an archipelago in Ba Ria – Vung Tau Province, is known for its stunning beaches, clear waters, and diverse ecosystems. Beyond its natural beauty, Con Dao holds historical significance linked to Vietnam’s revolutionary struggle for independence. However, the rapid growth of tourism in recent years has placed immense pressure on the island’s waste management infrastructure, particularly regarding plastic waste. Additionally, climate change has negatively impacted environmental quality and threatened the island’s unique ecosystems.

Through the “Flying Light to Con Dao” campaign, Vietnam Airlines, in collaboration with local authorities, partners, and residents, has collected tons of plastic waste, recycling it into useful items for the local community. The campaign has also educated over 2,000 students in Con Dao about environmental protection and plastic waste reduction in all local schools. Looking ahead, the initiative will enhance efforts for plastic waste collection and recycling while diversifying activities to raise environmental awareness among both tourists and residents.

“The concept of ‘Flying Light’ within this campaign redefines sustainable flying for Vietnam Airlines. It encourages passengers to minimize luggage weight and reduce plastic waste, thereby ‘lightening’ the overall weight of flights, lowering CO2 emissions, and decreasing plastic pollution in the environment,” said a representative from Vietnam Airlines.

In September, Vietnam Airlines successfully operated a flight as part of the SkyTeam The Aviation Challenge 2024. The flight, coded VN11, departed from Ho Chi Minh City to Paris on September 16.

On the special flight, Vietnam Airlines conducted various activities to raise awareness and promote environmental protection among passengers. The passengers were gifted with an emblematic plush toy – the endangered white-cheeked gibbon (Nomascus leucogenys) – one of the most highly threatened primates in the world. This also aligns with the “Contribute Leaves to the Forests – For a Green and Sustainable Vietnam” campaign. These plush toy are crafted by a social enterprise that supports individuals with disabilities, providing livelihoods for those in need while promoting a humanitarian message.

Passengers on
Passengers on “The Aviation Challenge” flight VN11 were presented with plush toys of the white-cheeked gibbon, the mascot of the ‘Contributing Leaves to the Forests’ campaign.

Flight VN11 promoted the concept of “light flying,” encouraging passengers to minimize their luggage weight on this route. By carrying fewer items, passengers helped reduce the aircraft’s overall weight, which in turn can lower fuel consumption and decrease CO2 emissions.

The airline has also collaborated with the United States Soybean Export Council (USSEC) to create healthier and more sustainable meal trays. Each meal incorporates enhanced vegetables and plant-based ingredients, prepared using nutritious cooking methods. Importantly, the fish and seafood served meet ASC standards – an internationally recognized certification for responsibly farmed seafood that reduces negative impacts on the environment, ecosystems, and local communities. This initiative is further supported by sustainably sourced U.S. soybean products.

Moreover, flight VN11 significantly reduced the use of nylon and single-use plastics, a practice that Vietnam Airlines has committed to across its network for years. This initiative has led to the elimination of tens of millions of plastic items and bags each year.

To operate flight VN11 in line with SkyTeam’s challenge, Vietnam Airlines utilized a Boeing 787-9 equipped with next-generation engines that significantly reduce emissions and noise pollution. It also optimized the flight path to Europe, which not only shortened travel times but also lowered fuel consumption and minimized environmental impact. These strategies—utilizing a modern fleet and optimizing flight paths—are crucial to Vietnam Airlines’ commitment to sustainable development. According to the airline, it has reduced CO2 emissions by 75,000 tons in the first nine months of 2024 through various fuel-saving initiatives.

A representative from Vietnam Airlines affirmed: As Vietnam’s flag carrier, we have always prioritized our social and environmental responsibilities, including our commitment to supporting Vietnam’s ambitious goal of achieving net-zero emissions by 2050. We are proud to be an active and responsible member of the SkyTeam global airline alliance.”

“The Aviation Challenge” (TAC) is an initiative launched by the global airline alliance SkyTeam, aimed at promoting sustainable innovation within the aviation industry. TAC 2024’s theme is ‘Adoption,’ focusing on encouraging airlines to integrate and apply more sustainable solutions across all operations – from fuel management, flight operations, in-flight services to ground handling, cargo processing, and the use of digital technology to enhance resource conservation.

Hashtag: #VietnamAirlines

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Integrated ecological efforts assist green development in China’s western region


HOHHOT, CHINA – Media OutReach Newswire – 17 October 2024 – Under the warm autumn sun, hundreds of farmers are racing to seize the remaining chance before winter to plant trees along the banks of Ulan Suhai Lake, the largest freshwater lake in the Yellow River basin.

A greater flamingo is seen in Ulan Suhai Lake in Urad Qianqi, north China's Inner Mongolia Autonomous Region, May 25, 2024.
A greater flamingo is seen in Ulan Suhai Lake in Urad Qianqi, north China’s Inner Mongolia Autonomous Region, May 25, 2024.

A key battlefield in China’s ecological project, known as the Three-North Shelterbelt Forest Program, the lake located on the northern bank of the middle reaches of the Yellow River is on the edge of the Ulan Buh Desert, the eighth-largest in China.

The autumn afforestation campaign this year is expected to add 28 hectares of artificial forest in the northwestern bank of the lake, said Zhao Guochen, director of the forest and grass bureau of Urad Front Banner in the city of Bayannur, Inner Mongolia Autonomous Region.

He said that in recent years thanks to improvements in the sand-control planting technique, tree saplings planted between Oct. 1 and the end of November have had a high survival rate, despite the seasonal drop in temperatures.

“Compared with traditional planting time in spring and summer, the evaporation in autumn is smaller and the incidence of plant diseases and pests is lower, so newly-planted seedlings can absorb sufficient water and nutrients from the soil to sprout new roots,” Zhao said.

In addition, in autumn, farmers have more spare time to take part in the ecological campaign after they reap their own harvest, he added.

The afforestation is a part of integrated ecological conservation efforts that span mountains, rivers, forests, fields, lakes, grass and sand in the area, aimed at creating a wildlife haven and erecting a green ecological barrier to besiege desertification.

Liu Wenbin, 53, is the captain of the lake’s patrol team. Looking up at flocks of migratory birds flying over the lake, he said the lake’s 293 square kilometers of water area is like his home. “It’s all too familiar to me.”

The local veteran conservationist believes the number of wild birds is an important indicator of the lake’s ecology.

“There are now more than 260 varieties of birds migrating and breeding in the lake area. In May this year, we discovered greater flamingos; the first sighting of the species in the lake,” he said.

However, over two decades ago, yellow algae often blanketed the lake in summer, resulting in the deaths of large numbers of fish and driving away birds. The large algae blooms were the result of pollutants, in the form of industrial and agricultural wastewater and domestic sewage, discharged into the lake, said Liu.

Bao Wei, director of the lake’s ecological protection center, said that since 2018, the local authority has carried out comprehensive conservation of mountains, water, forests, fields, lakes, grass and sand in the river basin.

The afforestation efforts have been combined with dredging to smooth out river-lake connectivity, pollution treatment, biodiversity protection and the lake water protection and management, said Bao.

Similar to Ulan Suhai Lake, many places in China’s western region is ecologically fragile, suffering problems such as vegetation destruction, soil erosion, rocky desertification, desertification, soil salinization and biodiversity reduction.

For example, there are the high-altitude headwaters of the Yellow River in west China’s Gansu Province, which are primarily composed of grassland and wetlands, and the karst landscape in south China’s Guizhou Province that renders rocky desertification challenges.

The Chinese government has embarked on a raft of measures to carry out comprehensive and integrated conservation and restoration of the mountain, water, forest, farmland, lake, and grassland in these ecologically fragile places.

In 2021, the General Office of the State Council issued a guideline on scientific measures to fundamentally improve the country’s natural environment, urging efforts to grow trees and grass following the inherent rules of the ecosystem to improve the stability of the ecosystem and its capacity for self-repair, while coordinating the protection, restoration and controlling of mountains, rivers, forests, farmland, lakes, grass and sand.

The guideline underscores the principle of considering local conditions, land situations and the capacity of water resources in vegetation selection, in order to build a healthy and stable ecosystem, as well as carrying out land greening frugally and pragmatically across the country.

“In October, some 50,000 to 60,000 ruddy shelducks perched around Ulan Suhai Lake, attracting a swarm of tourists during the week-long National Day holiday from Oct. 1 to 7,” said Liu.

In 2023, the lake area received 412,400 tourists and achieved direct tourism income of 38.2 million yuan (about 5.4 million U.S. dollars), a year-on-year increase of 806.37 percent and 780.78 percent, respectively, which further proved the feasibility of China’s development concept of “lucid waters and lush mountains are invaluable assets.”
Hashtag: #China #Mongolia

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VinFast and Vingroup: A Long-Term Visionary for a Greener Future

Through VinFast and Vingroup, Vietnam’s wealthiest individual has demonstrated a commitment to building a sustainable future by prioritizing long-term success over short-term gains. This visionary approach allows the companies to take a long view, addressing the challenges inherent in the electric vehicle industry and contributing to a greener tomorrow. By focusing on sustainability, VinFast is positioning itself as a global warrior in the fight for a cleaner environment.


HANOI, VIETNAM – Media OutReach Newswire – 17 October 2024 – Vietnam’s economic growth is mirrored in the success of domestic conglomerates like Vingroup. This diversified giant, the parent company of VinFast, contributes an estimated 1.6 percent of Vietnam’s 2023 GDP. Operating across technology-industry, trade & services, and social enterprise, Vingroup has seen its real estate and electric vehicle divisions emerge as key revenue drivers.

VinFast EV manufacturing complex in Hai Phong, Vietnam.

Vietnam’s manufacturing sector has flourished, attracting global companies seeking to diversify their supply chains. Low labor costs, a skilled workforce, and an open investment climate have fueled this growth. However, Vietnam has long harbored ambitions of developing its own independent automotive industry, including a domestic supply chain.

Beyond Profits: VinFast’s Commitment to Sustainability

In a recent Bloomberg interview, Pham Nhat Vuong, the CEO of VinFast and Chairman of Vingroup, offered a surprising response when questioned about his company’s long-term financial commitment.

“Until I run out of money,” Mr. Vuong declared, speaking from Vingroup’s Hanoi headquarters. His statement marked a stark departure from the short-term profit focus often associated with business leaders. Instead, it revealed a deep-seated dedication to VinFast’s long-term vision, positioning the company to potentially withstand the challenges currently facing the electric vehicle industry.

Mr. Vuong’s vision for VinFast extends beyond mere business considerations. As Bloomberg reported, he described the project as a “devotion project,” emphasizing his personal commitment.

His inclusion in the list of the world’s 50 most powerful automotive figures underscores VinFast’s growing influence in the global automotive sector. The company’s global expansion plans have the potential to further amplify its impact as the electric vehicle industry continues to evolve.

Diverse Products and Smart Sales Strategies

VinFast’s global ambitions extend beyond market share. The Vietnamese carmaker, under its founder’s leadership, is playing a key role in pushing the electric vehicle revolution forward on a global scale, overcoming various headwinds and uncertainties.

Rising interest rates, a weakening global economy, and potential declines in consumer confidence pose challenges to the electric vehicle market.

VinFast, however, offers a comprehensive electric mobility ecosystem, encompassing eight smart electric car models, one electric bus model, nine electric motorcycle models, and one electric bicycle model.

Its passenger car lineup caters to diverse consumer needs and budgets, ranging from mini e-SUVs to full-sized electric SUVs. At CES 2024, the company unveiled its innovative midsize pickup truck concept.

To ensure supply autonomy and gain a competitive edge in international markets, VinFast is constructing electric vehicle plants in the United States, India, and Indonesia.

In addition to manufacturing, VinFast is aiming to become a comprehensive mobility solutions provider, offering battery subscription options. This mechanism brings the upfront price of VinFast vehicles and the monthly running cost down in line with or even more competitive than many gas-powered vehicles on the market today.

In May 2024, VinFast achieved a significant milestone by becoming the first Vietnamese company to be ranked among the Top 100 most influential companies globally by TIME magazine.

As the world transitions to sustainable transportation, VinFast’s multi-market, multi-product strategy positions it to navigate the challenges and uncertainties of the global automotive landscape./.

Hashtag: #VinFast #Vingroup #EV

The issuer is solely responsible for the content of this announcement.