23 Oct, 2024

Vang Vieng Tourist Numbers Increases Amid Infrastructure Upgrade

As of October, Vang Vieng has welcomed over 900,000 tourists, exceeding its target of 800,000. This includes more than 400,000 foreign visitors, according to Vang Vieng district Governor Bounchan Malavong, who spoke on TV with the Lao National Radio (LNR) on 21 October.

Bounchan noted that Vang Vieng’s tourism has significantly improved compared to previous years, with increased visitor numbers this year alone. Key factors driving this growth include improved transportation options like buses, trains, and highways. Additionally, tourism plans have been adjusted to accommodate the rising number of tourists.

These developments have been supported by a nearly USD 15 million grant from the Asian Development Bank (ADB), provided through three agreements aimed at enhancing tourism infrastructure.

The first agreement focused on constructing a landfill, completed on 31 May. The second project involves building the Nam Song Bridge and upgrading the road from Vong Waen to Kaeng Yui, which began last year. The third project, set to start in November, will rehabilitate 11 roads in Vang Vieng, covering a total of 5,294 meters.

These improvements aim to enhance access to key attractions and overall visitor experiences, contributing to the local economy and promoting sustainable tourism growth.

This success reflects the district authorities’ plans to improve facilities and services in preparation for Visit Laos Year 2024, including environmental adjustments and enhanced tourist experiences through various activities and upgraded infrastructure.

In the first half of 2023, Vang Vieng attracted approximately 320,000 tourists, with 116,000 being foreign visitors and 200,400 domestic tourists.

25 Oct, 2024

How Vietnam Aims to Lead Southeast Asia's Blockchain Revolution

Vietnam is positioning itself as a blockchain leader in Southeast Asia, having recently unveiled the National Blockchain Strategy. Approved by Deputy Prime Minister Ho Duc Phoc, this ambitious roadmap outlines plans through 2030, targeting blockchain integration across key sectors like finance, healthcare, and education.Vietnam’s Blockchain Strategy for 2025The strategy, formally known as Decision No. 1236/QD-TTg, aims to establish a strong blockchain infrastructure by 2025. Vietnam is setting up three national innovation centers focused on blockchain research and plans to upgrade 10 training facilities dedicated to educating future blockchain experts. The government seeks to enhance its blockchain capabilities through targeted research and deployment.Vision for 2030By 2030, Vietnam aims to be among Asia’s top 10 blockchain research hubs. The country plans to launch at least 20 major blockchain platforms and introduce legal frameworks to support the widespread use of blockchain in public services and industries. This includes creating special economic zones or testing centers for blockchain innovations.Vietnam Blockchain Association's RoleA key participant in this strategy is the Vietnam Blockchain Association (VBA), which will foster local blockchain startups and industry collaboration. Phan Duc Trung, VBA Vice President, emphasized the strategy's collective efforts to build a transparent, secure, and sustainable digital economy.Blockchain Meets Crypto RegulationThough the strategy doesn’t focus directly on digital assets, it aligns with Vietnam’s broader push to regulate the crypto industry. Vietnam ranks fifth globally in crypto adoption, with efforts underway to develop a legal framework to regulate digital assets, including initiatives aimed at fighting money laundering and terrorist financing.Vietnam’s National Blockchain Strategy reflects its serious commitment to becoming a global blockchain leader by 2030. With a clear roadmap for research, development, and legal reform, Vietnam is set to emerge as a hub for blockchain innovation and cryptocurrency regulation in Southeast Asia.

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21 Oct, 2024

Stripe Acquires Stablecoin Platform Bridge for $1.1 Billion in Crypto’s Largest Acquisition

Quick TakePayments company Stripe has acquired stablecoin platform Bridge in a $1.1 billion deal, according to TechCrunch founder Michael Arrington.Stripe’s largest acquisition to date, and the largest acquisition in the crypto industry’s history, Bridge had raised $58 million from investors and was previously valued at $200 million.Bridge offers software that helps businesses accept payments in stablecoins and signals an expansion of Stripe’s crypto adoption efforts. Crypto’s Largest AcquisitionFintech company Stripe has finalized its largest acquisition to date, snapping up stablecoin platform Bridge in a deal valued at $1.1 billion, according to a post on X from TechCrunch founder Michael Arrington. Bridge, founded by entrepreneurs Sean Yu and Zach Abrams (no relation to this reporter), provides software tools that help companies accept payments in stablecoins. The founders had previously sold a Venmo competitor called Evenly to Block in 2013; Abrams is also a former senior Coinbase employee. Bridge had previously raised $58 million from investors, including a $40 million Series A round that valued the company at $200 million, according to Forbes. The $1.1 billion price tag therefore represents a large jump from the company's prior valuation, and Stripe's largest acquisition in its corporate history. Stripe, which was last valued at $70 billion, reinstated crypto payments for US businesses via USDC on Ethereum, Solana and Polygon earlier this month. Stripe also inked a partnership with Coinbase in June which saw the startup incorporate Coinbase's Base Layer 2 network into its crypto payment products, while Coinbase pledged to add Stripe as a way for its customers to buy crypto within its Coinbase Wallet. The $1.1 billion purchase represents the crypto industry's largest acquisition deal to date.

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