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TTC Phong Dien solar power plant invested by GEC. — Photo geccom.vn JERA Inc., a power generation company of Japan, has signed a deal to buy a 35.1 per cent stake at Viet Nam’s Gia Lai Electricity Joint Stock Company (GEC) to tap the Southeast Asian nation's growing demand for electricity and further its own decarbonisation efforts, Nikkei Asia reported. JERA, a joint venture between Tokyo Electric Power and Chubu Electric Power, will invest 15 billion JPY (US$112 million) in the Vietnamese renewable energy company. The purchase comes as JERA aims to increase its renewables generation capacity to 5,000 MW by 2025. The stake in GEC will add 190 MW, bringing the company's total renewables capacity to 1,900 MW. JERA will also consider jointly developing solar and onshore wind projects with GEC. JERA has already participated in renewable energy projects across Asia, including India and Thailand. It has operated a gas-fired power plant in Viet Nam since 2005. GEC owns hydro, … [Read more...] about Japanese firm buys 35.1 per cent stake in Viet Nam’s power company

Asia's Best Place to Work is a prestigious international award held by HR Asia for many years to honour businesses with top working environments and outstanding human resource policies, allowances and benefits, sustainable remuneration, and exciting annual activities that connect employees. VSIP JV was honoured to receive this prestigious award right the first time it attends the nomination. Along with the journey of more than 26 years of establishment and development, VSIP’s welfare policies have been increasingly focused when continuously providing diverse insurance packages for employees and their family members. The company also has providing talks on health consultation and periodic health checkups at international hospitals. Thereby, employees and staff are equipped with wide knowledge and care more about their own health, creating a premise for the sustainable development of themselves and their families. HR Asia Award honours VSIP JV as Best Place to Work in … [Read more...] about HR Asia Award honours VSIP JV as Best Place to Work in Vietnam 2022

With expertise and advanced technology, Danish firms are expected to develop Vietnam's agri-food industry for high efficiency and sustainability. A delegation of 13 leading Danish agri-food firms in Solutions for Livestock & Food Production, Food Processing Technologies, Ingredients and Climate Control Solutions is giving expertise to Vietnamese partners Representatives of Danish companies attend the seminar held in Hanoi on August 17. Photos: Embassy of Denmark in Hanoi The delegation, which works in areas important for improving agri-food production towards high efficiency, green, and sustainability, expects to share experiences and introduce world-leading and well-proven Danish solutions in agri-food production and look for opportunities to cooperate with Vietnamese companies. The expertise was shared at during Seminar – Business Matchmaking held in Hanoi and Ho Chi Minh City on August 16-19. The events are part of a joint effort between the Embassy … [Read more...] about Denmark extends agri-food expertise to Vietnam

The approval of Vietnam’s circular economy development plan, announced in June, aims to help reduce greenhouse gas emissions by 15 per cent of GDP by 2030 (as compared to 2014). The commitment at COP26 by Vietnam to achieve net-zero carbon emissions by 2050 is considered the main call for investment into green technologies and friendly-environmental projects, as well as approval of plans such as the aforementioned circular economy one. These messages have sent a strong signal regarding the country’s direction towards low-carbon, green development, and a circular economy, and could be a new driving force for Vietnam’s sustainable socioeconomic development, helping to improve its competitiveness and foreign direct investment (FDI) into the country. While governments have committed to lowering CO2, companies are also following suit for the good of the planet, Photo: Shutterstock As a result, numerous groups have made decisions in terms of investment and other operations … [Read more...] about Green standards top policies for fresh foreign ventures

This score is 25 per cent higher than the average score of businesses competing across Asia in 2022 and far ahead of the average score for the Vietnamese nominations. To achieve this position – one that many businesses across the continent aim for – is not easy because the list of Asia's Best Places to Work is selected through an extremely rigorous evaluation process via the Total Engagement Assessment Model – a model based on the criteria of Core, Self, and Group that are applied to major human resource markets in Asia. Core (collective organisation for real engagement) assesses culture, discipline, management capacity, leadership, and agile initiatives. Self (heart, mind, and soul) assesses the level of cohesion, pride, and emotion at work. Finally, Group (think, feel, and do) measures the level of cooperation between members within the business. A representative of CT Group at the HRAA 2022 award ceremony Speaking at the honouring ceremony, deputy director of … [Read more...] about CT Group wins at HR Asia Awards 2022

Hanoi (VNA) – The PetroVietnam Camau Fertilizer JSC (PVCFC) will halt the operation of its fertiliser factory for maintenance from August 18 to September 4, the firm has announced. Nguyen Duy Hai, Director of the factory, said that the firm has mobilised more than 1,000 staff from contractors and experts serving the maintenance. This is a regular work with the highest number of items ever. However, it has prepared plans to ensure the supply of fertilisers to farmers ahead of the upcoming Winter-Spring crop . In order to ensure the supply of high-quality fertilisers to farmers in the crop, the PPVCFC has designed production and transport plans to provide its products to all regions across the country. For the crop, the company has prepared over 350,000 tonnes of fertiliser of all kinds such as urea, NPK, and OM Ca Mau organic fertiliser./. VNA … [Read more...] about PVCFC ensures fertiliser supply despite 14-day maintenance

Staff of Sai Gon Bank interview candidates at a job fair held by the HCM City University of Economics in May. — Photo diendandoanhnghiep.vn Banks are focusing on digital transformation and automation, which has led to increasing demand for IT and data personnel, according to a report recently released by the recruitment service provider Navigos Group. Banks need high-quality human resources, yet it can be difficult and costly to find qualified staff due to market competition. Digital transformation has been undertaken by large banks in the past three to five years. Due to competition and the pandemic, numerous banks have expanded their digital transformation over the past two years. Searches by banks for mid- and high-level positions related to digital banking and digital transformation occupied half of bank jobs from the second half of 2021 to mid-2022. Some positions that are always in high demand for digital transformation include product owner, project manager, business … [Read more...] about Banks struggle to recruit personnel for digital transformation

Piles of VND100.000 bank notes. — EastAsia forum/VNA Photo Banks must tighten their assessment controls of corporate bond investments to avoid excessive risk and the misuse of funds raised by firms, experts said. In early April, the Banking Supervision Agency, under the State Bank of Vietnam (SBV) conducted an inspection of corporate bond investment activities at seven banks, while the Ministry of Finance inspected one bank. According to the SBV, by the end of 2021, there are 41 credit institutions holding VND274 trillion (US$11.7 billion) of corporate bonds, of which more than 75 per cent of them are held by ten major banks - Techcombank, MBBank, VPBank, TPBank, BIDV, Vietcombank, VietinBank, HDBank, ABBank and SeABank. At some banks, the value of corporate bonds exceeds 10 per cent of total assets. Although the inspection results were not published, a SBV senior leader said in an interview with Vietnam Investment Review that a number of credit institutions failed to … [Read more...] about Banks should tighten assessment controls of their corporate bonds investments – experts

HD SAISON has unveiled a preferential loan package of VND10 trillion (US$429.78 million) for workers at industrial parks across the country with the stated goal of protecting them from loan sharks. — Photo courtesy of the company HD SAISON, a subsidiary of HDBank, has earmarked a loan package of VND10 trillion (US$429.78 million) at half the market interest rate for workers at industrial parks across the country. Through this, it hopes to help the government stabilise the economy and ensure social security, and protect workers from loan sharks. Workers expressed happiness on hearing about the package. HD SAISON will lend from this package until the end of 2023 at an interest rate of 20 per cent a year compared to the normal rate of 40-50 per cent. Borrowers can roll over their loans for several years. For the sake of workers An HD SAISON spokesperson said the company was honoured to be chosen by the Government and the State Bank of Vietnam as one of two consumer finance … [Read more...] about Why do workers opt for HD SAISON’s loan package?

Vincom shopping mall in Ha Noi. Vingroup (VIC) was the biggest contibutor to the VN-Index yesterday with a growth of 2.1 per cent. — VNS Photo Mai Huong Shares eked out a gain in HCM City but lost ground in the last trading minutes in Ha Noi amid rising investor caution at the high price range. On the Ho Chi Minh Stock Exchange, the VN-Index inched up 0.05 per cent to close yesterday at 1,275.28 points – its third rally session this week and fourth since last Friday. The market breadth was negative, however, with 191 stocks rising, 252 falling and 118 closing flat. Realty stocks backed the market as half the top 10 shares lifting the VN-Index were real estate firms. Vingroup (VIC) was the biggest contributor with a growth of 2.1 per cent, followed by No Va Land Investment Group (NVL), Phat Dat Real Estate Development (PDR) and Investment and Industrial Development Corp (BCM) with gains of between 1.7 per cent and 7 per cent. Beverage companies also performed well with the … [Read more...] about Shares eke out gains in HCM but investors watch out at high price range