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Positive outlook for Vietnamese blockchain technology

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A former senior tech lead manager at Google, Huy Nguyen abandoned his career in Sillicon Valley to return home to Ho Chi Minh City, Vietnam to pursue his dream of developing a Vietnamese blockchain.

In 2017, then 30-year-old Huy Nguyen was one of Google’s youngest senior tech lead managers.

However, in 2021, the young man decided to leave Google and return to Vietnam to create a startup which he hoped would helped his homeland develop its technology sector.

Sharing knowledge

Since returning to Vietnam, Huy Nguyen has spent his time as the CEO of KardiaChain – a blockchain technology startup which he co-founded.

But rather than solely focus on developing his own business, Huy Nguyen spends a significant portion of his time attending community events focused on blockchain technology in Vietnam. 

These events, which focus on sharing ideas on how to develop Vietnam’s technological sector, are one of Huy Nguyen’s primary reasons for returning home. 

Aside from these large-scale events, Huy Nguyen also appears on talk shows for technology education, offers courses to students, and participate in workshops and conferences on regulation and policy.

During Huy Nguyen’s time at Google, he helped launch an online system for automatic bidding in telecom networks using blockchain technology and he believes that this experience gives him valuable insights he can share with the Vietnamese tech community. 

“Once I learned about blockchain technology, I realized how many benefits it could bring to various fields. If we use it wisely, it can even change the status of our nation,” Huy Nguyen said.

Huy Nguyen also believes that Vietnam is in its golden age of blockchain technology development and, based off this feeling, he hopes to raise awareness for blockchain in the community and help as many people as possible to learn about and access this new technology.

He does this by lecturing at universities, writing textbooks, and giving lectures on blockchain technology. 

He also hosts workshops and seminars for executives and entrepreneurs in order to help them garner a better understanding of how blockchain technology can be applied to their business models.

“We need more “catalysts” to help Vietnamese entrepreneurs create certain advantages in their own market so they can stop being the “followers” of global companies,” Huy Nguyen.

Huy Nguyen speaks as one of the moderators at a blockchain workshop in Ho Chi Minh City in 2022, in a photo provided.

Huy Nguyen speaks as one of the moderators at a blockchain workshop in Ho Chi Minh City in 2022, in a photo provided.

A promising future

In addition to his work within Vietnam, Huy Nguyen also promotes Vietnamese blockchain technology in other countries, hoping to show the global community that Vietnam is a promising country and worth investment.

This work takes Huy Nguyen all around the world, including a trip to Bangladesh where he

participated with student teams on behalf of the Vietnam Association for Information Processing (VAIP) at the global final round of the World Final ICPC 2020 competition. At the event, the Vietnamese delegation won the bronze medal.

Many people consider Huy Nguyen’s work in the local blockchain community to be extremely special because, rather than focus on his own business or spend time in the U.S., where his family has settled, he focuses on building the community.

“I used to think that it was important to focus on my own work, but now I feel that I have a greater responsibility both for both my company and my homeland,” Huy Nguyen explained.

“I want to be a part of the preparation process for Vietnam’s next generations to take advantage of a new wave of technology. A generation thoroughly educated and inspired by the fire of enthusiasm that can help spur Vietnam to become a new technological powerhouse,” Huy Nguyen said.

Huy Nguyen strongly believes that Vietnam has a great opportunity thanks to the fact that the proportion of its population that works is twice the size of the proportion of the population that is dependent. This is often referred to as “the golden population structure.”

Huy Nguyen (left) sits next to one of his coworkers in a provided photo when he was still working at Google.

Huy Nguyen (left) sits next to one of his coworkers in a provided photo when he was still working at Google.

“We have seen how much countries like the U.S., Japan, Singapore, South Korea and China have benefited [from the golden population structure]. I really do not want our country to miss this opportunity. The reason this motivates me so much is because I have the desire to put Vietnam on the world map of technology, and if we see an opportunity, we must do our best to seize it,” Huy Nguyen stressed.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

A former senior tech lead manager at Google, Huy Nguyen abandoned his career in Sillicon Valley to return home to Ho Chi Minh City, Vietnam to pursue his dream of developing a Vietnamese blockchain.

In 2017, then 30-year-old Huy Nguyen was one of Google’s youngest senior tech lead managers.

However, in 2021, the young man decided to leave Google and return to Vietnam to create a startup which he hoped would helped his homeland develop its technology sector.

Sharing knowledge

Since returning to Vietnam, Huy Nguyen has spent his time as the CEO of KardiaChain – a blockchain technology startup which he co-founded.

But rather than solely focus on developing his own business, Huy Nguyen spends a significant portion of his time attending community events focused on blockchain technology in Vietnam. 

These events, which focus on sharing ideas on how to develop Vietnam’s technological sector, are one of Huy Nguyen’s primary reasons for returning home. 

Aside from these large-scale events, Huy Nguyen also appears on talk shows for technology education, offers courses to students, and participate in workshops and conferences on regulation and policy.

During Huy Nguyen’s time at Google, he helped launch an online system for automatic bidding in telecom networks using blockchain technology and he believes that this experience gives him valuable insights he can share with the Vietnamese tech community. 

“Once I learned about blockchain technology, I realized how many benefits it could bring to various fields. If we use it wisely, it can even change the status of our nation,” Huy Nguyen said.

Huy Nguyen also believes that Vietnam is in its golden age of blockchain technology development and, based off this feeling, he hopes to raise awareness for blockchain in the community and help as many people as possible to learn about and access this new technology.

He does this by lecturing at universities, writing textbooks, and giving lectures on blockchain technology. 

He also hosts workshops and seminars for executives and entrepreneurs in order to help them garner a better understanding of how blockchain technology can be applied to their business models.

“We need more “catalysts” to help Vietnamese entrepreneurs create certain advantages in their own market so they can stop being the “followers” of global companies,” Huy Nguyen.

Huy Nguyen speaks as one of the moderators at a blockchain workshop in Ho Chi Minh City in 2022, in a photo provided.

Huy Nguyen speaks as one of the moderators at a blockchain workshop in Ho Chi Minh City in 2022, in a photo provided.

A promising future

In addition to his work within Vietnam, Huy Nguyen also promotes Vietnamese blockchain technology in other countries, hoping to show the global community that Vietnam is a promising country and worth investment.

This work takes Huy Nguyen all around the world, including a trip to Bangladesh where he

participated with student teams on behalf of the Vietnam Association for Information Processing (VAIP) at the global final round of the World Final ICPC 2020 competition. At the event, the Vietnamese delegation won the bronze medal.

Many people consider Huy Nguyen’s work in the local blockchain community to be extremely special because, rather than focus on his own business or spend time in the U.S., where his family has settled, he focuses on building the community.

“I used to think that it was important to focus on my own work, but now I feel that I have a greater responsibility both for both my company and my homeland,” Huy Nguyen explained.

“I want to be a part of the preparation process for Vietnam’s next generations to take advantage of a new wave of technology. A generation thoroughly educated and inspired by the fire of enthusiasm that can help spur Vietnam to become a new technological powerhouse,” Huy Nguyen said.

Huy Nguyen strongly believes that Vietnam has a great opportunity thanks to the fact that the proportion of its population that works is twice the size of the proportion of the population that is dependent. This is often referred to as “the golden population structure.”

Huy Nguyen (left) sits next to one of his coworkers in a provided photo when he was still working at Google.

Huy Nguyen (left) sits next to one of his coworkers in a provided photo when he was still working at Google.

“We have seen how much countries like the U.S., Japan, Singapore, South Korea and China have benefited [from the golden population structure]. I really do not want our country to miss this opportunity. The reason this motivates me so much is because I have the desire to put Vietnam on the world map of technology, and if we see an opportunity, we must do our best to seize it,” Huy Nguyen stressed.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20230116/positive-outlook-for-vietnamese-blockchain-technology/70928.html

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Vietnam Real Estate Credit Soars to $109 Billion in 2022

Vietnam’s real estate sector saw a surge in credit in 2022, with outstanding loans reaching 2.58 million billion VND, equivalent to $109 billion, up 24.27% from the end of 2021.

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The State Bank of Vietnam hosted a Real Estate Credit Conference on February 8th, in Hanoi, where the news was announced.

This sector saw the fastest growth, accounting for 21.2% of total outstanding loans to the economy, the highest in the past five years.

Outstanding loans for real estate business increased by 11.5%, while consumer/self-use credit balance increased by 31.1%. Housing needs accounted for 62.19% of outstanding loans, while land use rights accounted for 20.66%.

The State Bank is committed to ensuring safe and effective growth in the real estate sector, controlling credit risk and promoting stability. 

It will continue to operate monetary policy firmly and flexibly, creating favorable conditions for the real estate sector to grow and develop. 

The legal framework on credit and banking activities will also be improved to increase access to credit for people and businesses, including the real estate sector.

Credit institutions will be directed to focus on feasible projects with good sales ability and to minimize operating costs and administrative procedures. 

The State Bank will control credit risk for the high-end real estate segment, which has excess supply, and control credit concentration to ensure operational safety of the bank.

Overall, the State Bank of Vietnam is dedicated to supporting the growth and stability of the real estate sector, contributing to macroeconomic stability and supporting economic growth.

Source: ZingNews

Source: https://e.nhipcaudautu.vn/real-estate/vietnam-real-estate-credit-soars-to-109-billion-in-2022-3350491/

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Vietnam Airlines to reopen more air routes to China

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Vietnam Airlines plans to resume five more routes connecting Vietnam and neighboring China in the next two months, taking the total number of its operating air routes between the two countries to nine out of the ten routes in the pre-pandemic period.

In particular, the national flag carrier will restore air services between Hanoi and Beijing in March with three flights per week.

It will also increase the frequency of flights from Hanoi and Ho Chi Minh City to Guangzhou and Shanghai to four from one or two flights per week.

In addition, four air routes between Da Nang and Guangzhou, Shanghai, and Chengdu, and between Hanoi and Chengdu are scheduled for resumption in April with two weekly flights on each route.

The airline plans to use wide-body A350 and B787 aircraft on some air routes to the northern neighbor starting in September this year.

Besides Vietnam Airlines, Vietjet Air is operating air services between Ho Chi Minh City and Shenzhen, Hangzhou, Shanghai, Sichuan, and Wuhan with six flights per week.

The budget air carrier reopened air services from Canh Ranh City under Khanh Hoa Province in south-central Vietnam to Changsha and Chengdu.

Vietjet will operate a total of 85 air routes this summer.

The reopening and increase of air routes to China are aimed at meeting travel and tourism demand between the two countries, which is forecast to recover.

A Vietnam Airlines representative said the number of passengers on air routes between Vietnam and China remains small but it is increasing.

In an optimistic scenario, China will continue easing procedures and the number of passengers on these air routes this year is expected to reach 80 percent of the figure in 2019.

After reopening its doors to international travelers in March last year, Vietnam’s domestic tourism has recovered strongly. However, its international tourism segment, which earlier accounted for 60 percent of the country’s tourism revenue, has yet to recover as expected.

Nevertheless, Vietnam has good reasons to hope for stronger recovery, especially after China reopened its doors on January 8.

Vietnam will see a recovery of the number of Chinese visitors by 50-80 percent in 2023 compared to the pre-pandemic volume, or three to 4.5 million Chinese tourists, HSBC experts forecast.

In 2019, Vietnam Airlines served 8.1 million passengers on Vietnam-China air routes, or 19 percent of the airline’s total passengers.

China was among the air carrier’s top three markets with the highest number of passengers.

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Vietnam Airlines plans to resume five more routes connecting Vietnam and neighboring China in the next two months, taking the total number of its operating air routes between the two countries to nine out of the ten routes in the pre-pandemic period.

In particular, the national flag carrier will restore air services between Hanoi and Beijing in March with three flights per week.

It will also increase the frequency of flights from Hanoi and Ho Chi Minh City to Guangzhou and Shanghai to four from one or two flights per week.

In addition, four air routes between Da Nang and Guangzhou, Shanghai, and Chengdu, and between Hanoi and Chengdu are scheduled for resumption in April with two weekly flights on each route.

The airline plans to use wide-body A350 and B787 aircraft on some air routes to the northern neighbor starting in September this year.

Besides Vietnam Airlines, Vietjet Air is operating air services between Ho Chi Minh City and Shenzhen, Hangzhou, Shanghai, Sichuan, and Wuhan with six flights per week.

The budget air carrier reopened air services from Canh Ranh City under Khanh Hoa Province in south-central Vietnam to Changsha and Chengdu.

Vietjet will operate a total of 85 air routes this summer.

The reopening and increase of air routes to China are aimed at meeting travel and tourism demand between the two countries, which is forecast to recover.

A Vietnam Airlines representative said the number of passengers on air routes between Vietnam and China remains small but it is increasing.

In an optimistic scenario, China will continue easing procedures and the number of passengers on these air routes this year is expected to reach 80 percent of the figure in 2019.

After reopening its doors to international travelers in March last year, Vietnam’s domestic tourism has recovered strongly. However, its international tourism segment, which earlier accounted for 60 percent of the country’s tourism revenue, has yet to recover as expected.

Nevertheless, Vietnam has good reasons to hope for stronger recovery, especially after China reopened its doors on January 8.

Vietnam will see a recovery of the number of Chinese visitors by 50-80 percent in 2023 compared to the pre-pandemic volume, or three to 4.5 million Chinese tourists, HSBC experts forecast.

In 2019, Vietnam Airlines served 8.1 million passengers on Vietnam-China air routes, or 19 percent of the airline’s total passengers.

China was among the air carrier’s top three markets with the highest number of passengers.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20230208/vietnam-airlines-to-reopen-more-air-routes-to-china/71400.html

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Vietnam Airlines performs worst among local airlines in on-time ratings: report

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National flag carrier Vietnam Airlines scored the lowest rate of on-time flights among local airlines in 2022, the country’s aviation watchdog said in a report released on Monday.

The annual report on flight cancelations and delays by the Civil Aviation Authority of Vietnam (CAAV) covers the on-time statuses of six Vietnamese carriers, including Vietnam Airlines, budget carrier Pacific Airlines, no-frills airline Vietjet, hybrid carrier Bamboo Airways, Vietnam Air Services Co. (VASCO), and travel airline Vietravel Airlines.

The six carriers operated 312,841 flights last year, 32,260 — or 10.3 percent — of which were delayed, according to the report.

Vietnam Airlines operated 115,987 flights, 12.5 percent of which were delayed, which translated to the lowest on-time rate among the six airlines.

Vietjet delivered the second-worst on-time performance, with 13,310 out of 115,349 flights, or a 11.5-percent rate, departing behind schedule in the period.

Bamboo Airways continued to be the most punctual among the carriers for the fourth consecutive year, with only 4.9 percent of 51,959 flights delayed.

Pacific Airlines came second with a late rate of 6.1 percent, out of 16,567 flights operated.

Vietravel Airlines was slightly behind with 93 percent of 4,895 flights operated in the year arriving on time.

VASCO, a subsidiary of the national flag carrier, had 92.1 percent out of 8,084 services on time.

The carrier focuses on flights between Ho Chi Minh City and Con Dao off the southern province of Ba Ria-Vung Tau, Phu Quoc Island off the southern province of Kien Giang, and the Mekong Delta city of Can Tho.

According to the CAAV, most of the delayed flights were caused by ‘late arrival of aircraft,’ which means a late flight would affect the schedule of the next flight using the same aircraft.

In 2022, 1,155 flights were canceled. Vietnam Airlines called off 715 flights, Vietjet 266 flights, VASCO 92 flights, Bamboo Airways 64 flights, and Vietravel Airlines and Pacific Airlines nine flights each.

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National flag carrier Vietnam Airlines scored the lowest rate of on-time flights among local airlines in 2022, the country’s aviation watchdog said in a report released on Monday.

The annual report on flight cancelations and delays by the Civil Aviation Authority of Vietnam (CAAV) covers the on-time statuses of six Vietnamese carriers, including Vietnam Airlines, budget carrier Pacific Airlines, no-frills airline Vietjet, hybrid carrier Bamboo Airways, Vietnam Air Services Co. (VASCO), and travel airline Vietravel Airlines.

The six carriers operated 312,841 flights last year, 32,260 — or 10.3 percent — of which were delayed, according to the report.

Vietnam Airlines operated 115,987 flights, 12.5 percent of which were delayed, which translated to the lowest on-time rate among the six airlines.

Vietjet delivered the second-worst on-time performance, with 13,310 out of 115,349 flights, or a 11.5-percent rate, departing behind schedule in the period.

Bamboo Airways continued to be the most punctual among the carriers for the fourth consecutive year, with only 4.9 percent of 51,959 flights delayed.

Pacific Airlines came second with a late rate of 6.1 percent, out of 16,567 flights operated.

Vietravel Airlines was slightly behind with 93 percent of 4,895 flights operated in the year arriving on time.

VASCO, a subsidiary of the national flag carrier, had 92.1 percent out of 8,084 services on time.

The carrier focuses on flights between Ho Chi Minh City and Con Dao off the southern province of Ba Ria-Vung Tau, Phu Quoc Island off the southern province of Kien Giang, and the Mekong Delta city of Can Tho.

According to the CAAV, most of the delayed flights were caused by ‘late arrival of aircraft,’ which means a late flight would affect the schedule of the next flight using the same aircraft.

In 2022, 1,155 flights were canceled. Vietnam Airlines called off 715 flights, Vietjet 266 flights, VASCO 92 flights, Bamboo Airways 64 flights, and Vietravel Airlines and Pacific Airlines nine flights each.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20230207/vietnam-airlines-performs-worst-among-local-airlines-in-ontime-ratings-report/71379.html

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