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Da Nang City urges protection of endangered primate population



Authorities of Son Tra District, in co-operation with the Centre of Biodiversity Conservation and GreenViet, have started researching the protection of the rhesus macaque monkey to drive troupes of monkeys back to the Son Tra Nature Reserve, Da Nang.

Da Nang City urges protection of endangered primate population
A monkey is given food by a visitor at a destination in Da Nang. Son Tra District in Da Nang has launched a conservation project on the protection of monkey and primates in the Son Tra Nature Reserve. — Photo courtesy of Tran Huu Vy 

Director of GreenViet, Tran Huu Vy, said the research, which began last December, has been tracking the habitat and population of the monkeys as well as food chains to limit risks of conflict with human activities.

He said the research was urgent as many flocks of monkey had left their habitat in the primary forest to seek food from tourists and offerings at temples and pagodas at the foot of Son Tra mountain recently. Monkeys had conflicts with people when local residents and visitors tried to feed them.

Monkeys even broke into kitchens and fruit farms in the reserve, raising risks of transmitting viruses between the primates and people. 

Despite serious warnings to not feed monkeys in the reserve, some local residents and tourists have given monkeys fruit, snacks and bread in the reserve.

Local rangers said they believed a group of 30 monkeys that used to gather by the Linh Ung Pagoda to seek food from visitors returned to their natural habitat during COVID-19 social distancing orders between April and July.

However, the monkeys reappeared at some destinations to get food from tourists during the Tet (Lunar New Year) holidays.

Da Nang City urges protection of endangered primate population
A monkey that has suffered a cut. Many monkeys have been injured or killed in conflicts with human activities in the Son Tra Nature reserve in Da Nang over past years. — Photo courtesy of Nguyen Cong Hung 

Vy, a biodiversity conservationist, said it was important to stop feeding monkeys at tourism sites and long-term research should be built-in with the conservation and protection of the monkeys.

Research by a group of conservationists from GreenViet and Da Nang University’s Science and Education College found there were about 50 herds of rhesus macaques with more than 500 individuals living in the reserve.

Biologists also warned that monkeys living in the reserve could break into resorts, causing trouble for tourists and management if local authorities do not have any effective solutions for the conservation and protection of the primates.

According to Son Tra-Ngu Hanh Son forest protection sub-department, some traffic accidents occurred in the area in recent years when cars and motorbikes hit monkeys crossing the road.

Last year, a baby monkey was grabbed by a local man at Linh Ung Pagoda, while two other monkeys were killed by household dogs at farms in the reserve.

At least eight rhesus monkeys were found living at the Linh Ung Pagoda with serious injuries or missing limbs, according to local freelance photographer Nguyen Cong Hung.

Da Nang City urges protection of endangered primate population
Kids join a painting session on wildlife and nature protection at GreenViet’s Nature Dance Centre — an education centre on nature and environment in Son Tra nature reserve of Da Nang. — VNS Photo Cong Thanh 

Six monkeys were killed by motorcyclists in 2015-17, and two cases of illegal hunting were uncovered in the area, with three red-shanked douc langurs killed for money.

The rhesus macaque is listed as Least Concern in the International Union for Conservation of Nature (IUCN)’s red list of threatened species.

The 4,400ha reserve is home to more than 1,300 red-shanked douc langurs – an endangered primate species listed by IUCN – and more than 1,000 plant and 370 animal species including 15 flora and 25 fauna species listed as the most threatened species in the world.

It hosts at least 10,000 people each month.  VNS 



Vietnam among world’s earliest in banking digital transformation: forum

Vietnamese banks are among the earliest in the world to make the digital transformation, experts have said.



Speaking at the Financial Services – Retail Banking Forum in Ho Chi Minh City last week, Vu Viet Ngoan, former chairman of the National Financial Supervisory Commission, said the habit of using digital products had become more prevalent than ever in Vietnam.

More than 30% of the population uses banking apps, second globally only after China (41%), according to Ngoan.

Vietnam’s banking and financial sectors would continue to play a key role in establishing a “fully digitised, human-centred system”.

He also pointed out that the digital transformation in the country would be an important process of how banks and financial institutions analyse, interact and satisfy their customers.

The government has set a target of increasing financial inclusion to cover more than 80% of the adult population by 2025.

Phan Thanh Duc, dean of the management information system faculty at the State Bank of Vietnam’s (SBV) Banking Academy, said Vietnam had recorded a surge in digital payment everywhere from online marketplaces to small convenience stores and even vegetable and fruit vendors.

Le Duc Anh, director of the Ministry of Industry and Trade’s Centre for Information and Digital Technology, pointed out that technologies such as blockchain, AI, cloud computing, machine learning, and customer data collection, management and analysis were being adopted.

The banking sector had invested over 15 trillion VND (639.22 million USD) in digital transformation as of the end of last year, according to a report by the SBV.

Digital payments have been growing at 40% for the last four years, one of the world’s fastest digital transformation rates.

According to the report, more than 95% of Vietnamese banks have a digital transformation strategy.

Around 90% of banking transactions are handled through digital channels with 74.6% of adults having a bank account.

As of March around 3.71 million mobile money (or mobile payment) accounts had been opened, over 70% in rural, remote and disadvantaged regions across the country.

Non-cash payments have also seen significant growth, with 82 credit institutions offering internet-based payment services and 51 offering mobile payment services as of the end of last year.

There are 48 licensed intermediary payment organisations.

Digital transformation has helped banks bring down the cost-to-income ratio to 30%, on par with regional and international standards.


But experts say the legal framework for digital financial services is inadequate. 

It is vital to improve institutional frameworks and upgrading infrastructure, they say.

The lack of human resources with up-to-date skills is another major challenge to digital transformation, they warn.

Organised along with the forum was a fair introducing the advancements needed for the financial industry’s digital transformation.

The event was hosted by the Vietnam Association of Securities Business, the Vietnam Digital Communications Association, and the International Data Group.

Source: Nhân Dân


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Vietnam’s first unicorn VNG reports VND1,500 bln after-tax loss in 2022

Vietnamese tech giant VNG Corporation recorded an audited after-tax loss of VND1,534 billion, an increase of VND220 billion compared to its independent report.



The fact that the unicorn recorded more expenditures connected to taxes, intangible fixed assets, and allowance for financial investment activities led to the greater loss after taxes that the company experienced.

VNG aimed for a revenue of VND 10,178 billion in 2022 and anticipated a loss of VND993 billion after accounting for taxes. Therefore, the management unit of Zalo has merely met about 77% of the revenue plan, and the loss after taxes surpasses the projections.

The company recorded a loss of more than VND90 billion after taxes for the first quarter of 2023, with a net loss of more than VND40 billion during the same time period. The increase in net revenue to 1,852 billion Vietnamese Dong was 11% more than the same time the previous year.

The majority of the reason for VNG’s loss in the first quarter of 2023 stems from the fact that the firm is still under pressure from huge operational expenditures. The selling expenses for the company totaled VND544 billion, and the administrative expenses totaled VND337 billion. On the other hand, as of the end of March 2023, the total amount of the company’s undistributed profit after taxes amounted to VND 5,052 billion.

VNZ shares have been subject to trading restrictions since May 25 on the Hanoi Stock Exchange. This is because the company was late in filing its audited financial accounts for 2022 by more than 45 days, which is in violation of the laws. The trading of shares will take place solely on Fridays.

With a price of VND 771,900 per share as of the market’s close on May 29, VNZ continues to be the most expensive stock on the stock exchange.


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India car rental app Zoomcar leaves Vietnam after 1.5 years

India’s car rental app Zoomcar will leave Vietnam from end-May, 1.5 years after its debut in the Southeast Asian country in October 2021, the business announced Tuesday.



For customers, the app stops service from May 24, and will serve any bookings dated before May 24. Zoomcar will fulfill its obligations of payments to car owners normally until June 30.

In Vietnam, Zoomcar initially operated in Ho Chi Minh City and had plans to expand to Hanoi and Danang in 2023, as part of its target to become the biggest car rental service in Vietnam, said Zoomcar Vietnam CEO Kiet Pham. Vietnam’s car rental market, with a compound annual growth rate (CAGR) of 14%, can reach $884 million in 2027, he added.

The business attributed the decision to the market dynamics and projected complicated developments.

The car rental market in Vietnam has recently witnessed many new players, leading to fierce competition.

In March, Pham Nhat Vuong, chairman of Vietnam’s largest private conglomerate Vingroup, set up a new company, named GSM (Green-Smart-Mobility) JSC, offering electric car and motorbike rental and taxi services. It is the first green and integrated transport service model deployed in the world to popularize an electrified mobility experience, according to the company.

In December 2021, MoMo, a top e-wallet app in Vietnam, launched its car rental service. The move was in cooperation with Mioto, a HCMC-based car rental business. MoMo said its service would deliver cars to users’ homes and is available across major cities and provinces of Vietnam.

Foreign businesses also participate in the market. In 2017, MP Executives and Enterprise Holdings Inc. formed a partnership to launch Enterprise Rent-A-Car in Asia Pacific, starting with Vietnam. Enterprise Rent-A-Car is among the largest transportation solutions providers in the U.S.

In 2019, U.S. car rental business Hertz returned to Vietnam with initial operation in HCMC, after first-time operation in 2012. The Vietnamese franchisee, named New City Rent A Car, aims to serve foreigners in Vietnam and businesses with long-term demand to hire cars for staff.

Source: The Investor


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