Vietnam: New President Tô Lâm, South China Sea Island Building (692 Acres) & Coal Energy & Flight Price Jumps with Valerie Vu - E434

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Recorded16 Jun 2024

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Valerie Vu, Founding Partner of Ansible Ventures, and Jeremy Au discussed three main themes: 1. New President Tô Lâm: Jeremy and Valerie discussed the recent stabilization efforts by the Vietnamese government amidst political and economic turbulence, with the election of the new president, Tô Lâm, who previously served as the Minister of Public Security. The filling of this and other vacant leadership positions signifies a commitment to anti-corruption measures. They also discussed the government lending an additional $1.2 billion to Saigon Joint Stock Commercial Bank (SCB) in the past two months, summing up to a total $24.5 billion bailout (equivalent to 6% of Vietnam's GDP, and primarily financed by increasing money supply). 2. South China Sea Island Building (692 Acres): Jeremy and Valerie discussed the country's dredging and landfill work in the South China Sea, creating almost as much new land as in the previous two years combined. They also covered significant initiatives like the high-speed railway from Hanoi to Kunming, China, and the implications of the controversial Funan canal project in Cambodia. She explained that these projects are part of Vietnam's broader strategy to enhance its regional influence and secure its economic future. 3. Coal Energy & Flight Price Jumps: State-owned EVN (Vietnam Electricity) has urged consumers and factories, including Foxconn, to reduce power consumption by 30% to avoid power cuts. Despite efforts to improve North-South hydropower linkage, Vietnam's infrastructure delays and the continued manufacturing-centric industrial plan have led to sharply increased reliance on imported and carbon-emitting coal. They also explained the reasons behind the 25% year-on-year increase in domestic flight prices, which has made direct flights within Vietnam more expensive than international layovers. They compared the budget carrier VietJet, known for its cost-effective international flights but frequent domestic delays, with the more reliable state-owned Vietnam Airlines. Jeremy and Valerie also talked about the influence of political changes on investor confidence, the effects of rising fuel costs on domestic travel & logistics, and the tension between maintaining cultural heritage and embracing economic modernization. Watch, listen or read the full insight at https://www.bravesea.com/blog/vietnam-new-president Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/vietnam-new-president-id 观看、收听或阅读全文，请访问 https://www.bravesea.com/blog/vietnam-new-president-cn Get transcripts, startup resources & community discussions at www.bravesea.com WhatsApp: https://whatsapp.com/channel/0029VakR55X6BIElUEvkN02e TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea English: Spotify | YouTube | Apple Podcasts Reach out to [email protected] to learn more about Heymax

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