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The Hanoitimes - The difference between M2 growth and credit growth fell from VND238 trillion (US$10.24 billion) as at June 20, 2018 to only VND124 trillion (US$5.33 billion) August 22, 2018. Credit growth in Vietnam has surpassed M2 money supply expansion since early July after the State Bank of Vietnam (SBV) withdrew cash from the banking system to reduce pressure on the exchange rate, according to the Bao Viet Securities Company (BVSC).   Illustrative photo. Accordingly, the difference between M2 growth and credit growth fell from VND238 trillion (US$10.24 billion) as at June 20, 2018 to only VND124 trillion (US$5.33 billion) August 22, 2018.  Vietnam's credit growth hit 8.18 % in the first eight months of 2018, lower than a 10.8% expansion in the same period of 2017, 9.64% in January-August 2016, 10.21% in in January-August 2015 and the full-year target of 17%, informed the Ministry of Planning and Investment (MPI). Meanwhile, according to the State Bank of … [Read more...] about Vietnam credit growth outpaces money supply expansion

The Hanoitimes - Hanoi delegation led by Vice Secretary of the Hanoi Party Committee and Chairwoman of the municipal People’s Council Nguyen Thi Bich Ngoc paid working visit to New Zealand’s Wellington from September 16-18. In Wellington, the Hanoi delegation held talks with Simon Woold - member of the Wellington Council, during which the two sides informed each other about their development and shared experience in operating council activities and some related issues. Hanoi delegates work with representatives from Wellington authority Wellington’s leaders exchanged with the delegation on ensuring social security for the people, vocational training, health insurance, social insurance, experience in building smart cities, transportation system, sustainable growth, education-training.  The two sides also shared their experiences in making the contents available for delegates to discuss and issue resolutions at their meetings, gather opinions of voters … [Read more...] about Hanoi promotes cooperation with New Zealand’s Wellington

The Hanoitimes - The program aims to promote Vietnam tourism and attract more foreign visitors. The Vietnam National Administration of Tourism (VNAT) under the Ministry of Culture, Sports and Tourism and VnTrip Joint Stock Company on September 12 signed an agreement on building a database of 360 degree pictures of tourism destinations.   The Vietnam National Administration of Tourism (VNAT) under the Ministry of Culture, Sports and Tourism and VnTrip Joint Stock Company signed an agreement on building a database of 360 degree pictures of tourism destinations on September 12. Photo: Toquoc.vn The agreement is expected to help introduce the country's beauty and Vietnam will get a chance to connect with the Southeast Asia, global tourism systems to form a smart tourism management model. Vietnam is an attractive destination for foreign holidaymakers. The country has received the “Asia’s Leading Destination” award from the World Travel Award, according to Vice … [Read more...] about VNAT and VnTrip sign deal to build database of Vietnamese tourism

The Hanoitimes - Hanoi has paid more attention to the balance of living environment protection in order to develop in a sustainable way for the past ten years. The land fund in inner city of Hanoi is becoming limited, while people’s demand for improving life quality is increasing. Thus, the city has set planning to harmonize infrastructure development and green growth. Efforts to develop green city According to urban management expert Tran Tuan Anh, for the past ten years, along with the rapid urbanization process, Hanoi has paid more attention to the balance of living environment protection in order to develop in a sustainable way.   Peace Park - a green work in Hanoi. Photo: Pham Hung Hanoi has a strategy to develop "green city" through promoting green projects, saving energy and efficiently use energy source. Besides, Hanoi has a system of trees and water surface that is relatively dense, Tuan Anh said. In the period 2016 - 2020, the city is implementing a … [Read more...] about Hanoi to expand green works for sustainable urban development

The Hanoitimes - Hanoi could host Formula One race if negotiation succeeds. A meeting to bring the Formula One race, one of the most watched sport in the world, to Hanoi is expected to take place this week, VnExpress reported.    Illustrative photo. In the mid of 2017, Hanoi's leaders for the first time mentioned that the city was negotiating to host the world famous sport event.  A year later, Hanoi sought support from the out-going UK Ambassador to Vietnam Giles Lever in negotiating with F1 London in a bid to host the Formula One race in Vietnam at the earliest possible date.  Sport Business on April 27 reported that Formula One was in talks with the Vietnamese government to add a new street race in Hanoi. Vietnam's addition to the calendar will bolster the sport's position on the continent after Malaysia staged its final grand prix last season, it said. Malaysia bowed out of the championship last year due to falling attendance and the resulting … [Read more...] about Hanoi sets sight on hosting Formula 1 race