Daily News 5 June 2023

Welcome to Vietnam Untold! Today, we are bringing you some of the most exciting news from around Vietnam. 

List Today News

  1. Vietnam’s Elite: Over 1,059 Super Millionaires with assets over 30 million USD, outpacing Thailand and Malaysia
  2. VinFast secures record-breaking car sale contract in Vietnam: 3,000 Vehicles Sold
  3. Vietnam boosts durian exports: A fruitful endeavor
  4. Illegal gambling unearthed in Vietnam: Massive gambling bust
  5. Social insurance scam exposed in Vietnam: Profiting millions of dollars by selling counterfeit sick leave certificates

News #1 Vietnam’s Elite: Over 1,059 Super Millionaires with assets over 30 million USD, outpacing Thailand and Malaysia

In the latest Wealth Report by Knight Frank, Vietnam surpasses Thailand and Malaysia in wealth accumulation, with 1,059 ultra-high-net-worth individuals holding assets over 30 million USD, an 82% growth since 2017. Ranking second among the ASEAN-6 group, Vietnam is projected to reach 1,300 ultra-high-net-worth individuals by 2027, a 22% increase from 2022 and 122% growth over the decade.

In addition, no. of Vietnam’s USD millionaires surged by 70% in 5 years, hitting 69,994 in 2022 and ranking fourth among ASEAN-6. The report forecasts that Vietnam will have over 112,200 millionaires by 2027, a 60% growth from 2022 and a 173% increase since 2017.

Knight Frank attributes Vietnam’s wealth boom to the trend widely observed in Asia, especially in Singapore, Malaysia, and Indonesia.

Next, in recent news indicates that VinFast achieves remarkable car sale contract in Vietnam: 30,000 vehicles sold 

News #2 VinFast secures record-breaking car sale contract in vietnam: 3,000 Vehicles Sold

In a groundbreaking deal, Sun Taxi Corporation, an emerging Vietnamese transportation company, signed a contract to purchase 3,000 VF 5 Plus electric cars from VinFast. The deal became Vietnam’s most significant car purchase agreement, with the delivery scheduled for now until 2025. By then, the entire fleet of 3,000 electric cars will be rolling across Vietnam.

VinFast has established a network of 150,000 charging stations for electric cars and motorcycles across 63 provinces and cities. They also offer heavy after-sales services, including a 10-year warranty, nationwide service centers, mobile repair services, mobile charging stations, and 24/7 roadside assistance throughout the warranty period.

And we have a new latest update on Vietnam’s fresh durian exports. 

News #3 Vietnam boosts durian exports: A fruitful endeavor

Vietnam’s fresh durian exports have significantly surged in the first five months of 2023. The country has exported over 65,000 tons of fresh durian, marking a 41% increase compared to the entire year of 2022. Notably, China accounts for a staggering 97% of these exports, solidifying its position as the primary market for Vietnamese durians.

According to the Ministry of Agriculture and Rural Development, Vietnam has established 293 cultivation areas and 115 packaging facilities approved by China for official export to their market.

In response to Vietnam’s efforts to boost durian exports, the Director of Thailand’s International Trade Promotion Department has advised their durian growers to maintain product quality to enhance their competitive advantage against Vietnam in China’s massive consumer market.

Let’s turn our attention to local authorities in Nha Trang, Vietnam with their significant action against organized gambling operations. 

News #4 Illegal gambling unearthed in Vietnam: Massive gambling bust

On May 31, the Khanh Hoa Provincial Police initiated legal proceedings in the organized gambling case at the Sheraton Nha Trang Hotel & Spa. Arrest warrants have been issued for key individuals involved, namely Ngo Van Chuyen, Thoong Tau Vay, Jo WanSu, Shin Jea Ho, and 14 others connected to the ongoing investigation.

During a raid conducted on April 15, the Khanh Hoa Provincial Police apprehended several individuals who were caught participating in an illegal gambling operation within the hotel’s basement. Substantial amounts of money were seized, including over 408,000 USD, 15,000 Hong Kong dollars, 10,000 South Korean Won, and 681 million Vietnamese Dong.

The establishment has been revealed to have been an illegal gambling hub involving real money, unlawfully catering to foreign gamblers since March 2023.

We conclude today’s news program with a staggering update on the Vietnam Social Security Scam worth millions of dollars. 

News #5 Social insurance scam exposed in Vietnam: Profiting millions of dollars by selling counterfeit sick leave certificates

Police in Bien Hoa City, Dong Nai province, Vietnam, have uncovered a significant scam involving the sale of fake medical certificates for social insurance benefits. Tens of thousands are believed to have purchased these certificates, exploiting the social insurance system for hundreds of millions of dollars.

Specifically, some clinics provide workers with fraudulent medical certificates, falsely claiming they are sick and eligible for social insurance benefits. These certificates are then submitted to their employers, who must pay 75% of the workers’ salaries during their sick leave.

Over several days, Dong Nai police closely monitored healthcare facilities and detained multiple medical staff members for involvement in this widespread fraud.

Thank you for watching Vietnam Untold. Stay informed, stay connected. We’ll be back tomorrow with more news.