Memorial complex commemorates late Politburo member

The ribbon-cutting ceremony for the memorial complex

NDO - A memorial complex commemorating late Politburo member and Secretary of the Communist Party of Vietnam Central Committee (CPVCC), Le Duc Tho, was inaugurated in Nam Dinh city's Nam Van commune, Nam Dinh province on October 5 on the occasion of his 103rd birthday (October 10, 1911-2014). Present at the ribbon-cutting ceremony were Le Hong Anh, Politburo member and standing member of the CPVCC's Secretariat; Dinh The Huynh, Politburo member and Head of the CPVCC's Commission for … [Read more...]

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More credit needed to stop closures: experts

HCM CITY (VNS) - Experts have urged the government to set up a centre for credit services for struggling small- and medium-sized enterprises (SMEs). The number of enterprises that have suspended or closed operations in the first seven months of the year was 37,612, an increase of 9.8 per cent year-on-year. Most of the companies that closed were SMEs, according to the General Statistics Office. The number of newly established enterprises totalled 42,398, with total registered capital of … [Read more...]

New artifacts collected for Thang Long Imperial Citadel

Chèn TLHCC Director Nguyen Van Son presents recognition papers to the delegates' relatives.

VGP - The Thang Long-Ha Noi Heritage Conservation Center (TLHCC) has organized a ceremony to receive documents and artifacts from the attendants at the expanded meeting of the Politburo of the Party Central Committee held at D67 House and Tunnel in Thang Long Imperial Citadel from December 18, 1974 to January 8, 1975. The ceremony saw the presence of families of 18 attendants, including Truong Chinh, Pham Van Dong, Le Duc Tho, Vo Nguyen Giap, Nguyen Duy Trinh, Le Van Luong, Le Thanh Nghi, Van … [Read more...]

VietinBank to sell VND1.5-trillion of bad debt to VAMC

Hong Phuc VietinBank is the last among the four State-owned banks to sell debt to VAMC. The other three are Agribank, BIDV and Vietcombank. Pham Huy Hung, who used to serve as a leader at VietinBank for over 25 years, once said that VietinBank had no plans to sell bad debt as it would settle it on its own. The situation has been different after Hung's retirement. Le Duc Tho, new general director of the bank, recently told the Daily that selling debt to VAMC is a good move. As the economic … [Read more...]

State capital’s representatives at banks – who are they?

Though the State has equitized most of its banks, it continues to hold controlling stakes them. The state's capital at the institutions is managed by its representatives - in most cases, officials from the State Bank of Vietnam.

VietNamNet Bridge - Individuals who represent the state's capital at commercial banks are also officials working for state management agencies. This practice is causing concern among those who believe it to create unfair competition among banks. In general, the State Bank dispatches more than one official to each commercial bank. Each official is responsible for a certain percentage of the state's capital. This allows for dispersing risk, as power is not concentrated in anyone individual, and … [Read more...]

Vietnam retailers charge card users despite central bank prohibition

The State Bank of Vietnam imposed a strict regulation on May 13 that imposes hefty fines on retailers who charge additional fees on credit card transactions. PHOTO COURTESY OF TUOI TRE.

On Thursday afternoon, Minh Dung went to a cell phone shop on Le Van Sy street in Ho Chi Minh City's District 3, looking for a mobile phone. He chose an iPhone priced at VND 14.5 millions (US$686). … [Read more...]

Vietnamese people applaud PM Nguyen Tan Dung’s speech at the ASEAN Summit

(VOVworld) - The people of Da Nang liked Prime Minister Nguyen Tan Dung's speech at the 2014 ASEAN Summit. Ngo Tuan Anh, a lecturer at Da Nang University said: "The speech was frank and reflected the stance of the Vietnamese state in resolving disputes in the East Sea. It called on the international community to pay attention to this issue and pointed out China's wrongdoing. It also expresses the hope that international friends will criticize China's move and demand that China withdraw its … [Read more...]

Vietnamese people continue to protest China’s violation of Vietnam’s sovereignty

Vietnamese people march in Japan to protest China's violation of Vietnam's sovereignty

(VOVworld) - The people of Da Nang have agreed with Prime Minister Nguyen Tan Dung's speech at the 2014 ASEAN Summit. Ngo Tuan Anh, a lecturer at the Da Nang University says: "The speech is frank, reflecting the stance of the Vietnamese state in resolving disputes in the East Sea. It calls on the international community to pay attention to this issue and points out China's wrongdoings. It also expresses the hope that international friends will criticize China's move and demand that China … [Read more...]

Reunification Day

The liberation army on a street of Saigon

VGP - In the hearts and minds of Vietnamese people, April 30, 1975 holds a special place as it marks the ending of the Viet Nam War and the national reunification. At the end of March 1973, comrade Le Duc Tho came from the North to the South and joined comrade Pham Hung and General Van Tien Dung to direct the Ho Chi Minh Campaign on behalf of the Politburo An American fighter was shot down in Sai Gon Hubert Van Es' "Fall of Saigon" Photograph (April 29, 1975) A tank of the liberation … [Read more...]

Vietnam to cut refinance rate to 6.5 pct to support GDP growth

Vietnam will cut its refinance rate and other policy rates as the government tries to support businesses and bolster a struggling economy. Stocks rose.

The refinancing rate will be lowered to 6.5 percent from 7 percent from March 18, said Le Duc Tho, chief administrator at the State Bank of Vietnam. The monetary authority will make an announcement on cuts to "some other" policy interest rates later today, Tho said by phone in Hanoi. Policy makers are trying to bolster an economy that the World Bank estimates will grow 5.4 percent this year, slower than a government target of 5.8 percent. Prime Minister Nguyen Tan Dung last month asked the … [Read more...]

Bad debts gradually fall in banks

HA NOI (VNS) — Bad debts in Viet Nam's banking system in 2013 is estimated at 3.79 per cent of the outstanding loans, the State Bank of Viet Nam (SBV) said on Tuesday. The central bank achieved its target of reducing non-performing loans (NPLs) in the banking system last year after the Viet Nam Asset Management Company (VAMC), a wholly state-owned company managed by the SBV, bought nearly VND40 trillion (US$1.88 billion) of bad debts from banks, said Le Duc Tho, head of the SBV … [Read more...]

Bad debts reduced to 3.79 percent

Bad debts in Vietnam's entire banking system was 3.79 percent of the outstanding loans at the end of 2013, the State Bank of Vietnam (SBV) said on January 21. The central bank reached its initial target on settling non-performance loans (NPLs) last year, in which the Vietnam Asset Management Company (VAMC), a wholly State owned company managed by the SBV, has bought nearly 40 trillion VND (1.88 billion USD) of bad debts from banks, said Le Duc Tho, head of the SBV's Office. The SBV continues … [Read more...]

Attractive new tours to be launched on Son Tra Peninsula

A workshop recently took place in Da Nang to introduce this year's new tours on the Son Tra Peninsula.

Organised by the Management Board of the Son Tra Peninsula and Da Nang Tourism Beaches, the event was attended by a number of travel agents, along with some tourism service providers from the city. At the event, the participants were introduced to a wide range of new tours which are being launched this year, including wildlife-watching and diving to discover the underwater world of the coral reefs. In an attempt to attract even more tourists to the peninsula, the Management Board is … [Read more...]

Motor vehicle insurance market – big but inaccessible

Only 29 percent of motorbikes insured Though the motor vehicle insurance market is believed to have great potentials, because taking motor vehicle insurance policies is compulsory for all drivers, insurers still cannot fully exploit the market.

VietNamNet Bridge - Insurers have continuously cut the motor vehicle insurance premiums down to scramble for clients--which has resulted in the very low profits from the business. Analysts have every reason when saying that the motor vehicle insurance market is a big cake: there are more than 2 million cars and 37 million motorcycles in circulation now, while taking insurance policies is compulsory for all the owners. According to the Ministry of Transport and the Association of Vietnamese … [Read more...]

Tiana Alexandra honors Gen. Giap with personal documentary

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Editor’s Note: Cathy Truong is a Vietnamese-American contributor who spent two years living in Ho Chi Minh City and Hanoi. She filed this story to Tuoitrenews from Vancouver, Canada, where she now lives. For many Americans, Vietnam may represent a war history that they try to dismiss from their memory. For Tiana Alexandra (Thi Thanh Nga), a former Hollywood actress, filming about Vietnam has been her life’s work as she pushes past the painful threshold of memories, and hopes for healing and … [Read more...]

Japanese Food Festival to take place in Hanoi

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(CPV) - A Japanese Food Festival hosted by Chef Yasuhiro Ohara from ANA Crowne Plaza Fukuoka Japan will take place at the Crowne Plaza West Hanoi Hotel (No 36 Le Duc Tho street, Tu Liem district) from October 18 - 27. During 10-day-festival, food lovers in Hanoi, especially those keen on Japanese gastronomy, will have the exclusive opportunity to contemplate and savour a wide range of Japanese dishes served in the hotel. Chef Yasuhiro Ohara will introduce a vast array of traditional Japanese … [Read more...]

In pictures: General Vo Nguyen Giap with President Ho Chi Minh

President Ho Chi Minh and General Giap discussed the Border Campaign plan in 1950.

VietNamNet Bridge - Before historical moments of the country, President Ho Chi Minh and General Vo Nguyen Giap discussed together to make big decisions. President Ho Chi Minh and General Vo Nguyen Giap on September 2, 1945. The picture was taken shortly after President Ho Chi Minh read the Declaration of Independence. "Just when Uncle Ho and Mr. Giap were sitting in the car and the car did not start yet, I rushed to put the camera into the door and said: "Mr. President, the platform was very … [Read more...]

“Waving” streets in Hanoi

On many streets in Hanoi dozens of staff members at many restaurants rush into streets to attract customers in a very impolite way at rush hours in the afternoon. This type of activity can consist of trying to block the vehicles of passers-by. Some girls have even complained of harassment. The scenes in the video were recorded by reporters on the areas of Nga Tu So, Le Duc Tho, Tran Thai Tong, Cao Ba Quat and Truc Bach streets. Even some elderly people join in the enticement, which adds to … [Read more...]

Contractor gets that ‘sinking feeling’

VietNamNet Bridge - While serious subsidence on the new Ring Road 3 flyover section is still a matter of some conjecture, the road's main investor Thang Long Project Management Unit (PMU) has asked the Ministry of Transport to grant contractors a total sum of VND180 billion (US$8.5 million) as a reward for meeting the construction deadline ahead of time. The two main contractors, namely Japan's Sumitomo Mitsui and the Samwhan-Cienco 4 joint venture, claim they deserve to receive the reward for … [Read more...]

Eximbank CEO moves up ladder

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Truong Van Phuoc, general director of Eximbank cum vice chairman of the bank's board of directors, has been appointed the Vice Chairman of the National Financial Supervisory Commission (NFSC) by the Prime Minister. Phuoc stepped down as the CEO of Eximbank, coded EIB on Ho Chi Minh Stock Exchange, since the time of Prime Minister's decision takes effect on August 30. Before that, in early August, there was rumor about a resignation letter from the post of Eximbank CEO of Phuoc, and Phuoc … [Read more...]