Distinguished delegates, Ladies and gentlemen, Let me warmly welcome you all to our Conference on “Viet Nam and APEC: A Journey of 20 Years and the Path Ahead”. Exactly 20 years ago, in November 1998, Viet Nam was honored to become a member of APEC. This strategic decision is a major step taken by our country to implement the foreign policy of openness, multi-lateralization and diversification of our international relations and economic integration, giving fresh impetus to Viet Nam’s reform and international integration. During 20 years of APEC membership, Viet Nam has also made great strides on the path of development and integration. - Viet Nam has transformed itself from one of the poorest in the world into a lower middle-income country, with per capita income increasing 7 times from US$350 to nearly US$2,400. - Viet Nam today is an active and responsible member of regional and global cooperation mechanisms and an important link in key economic integration … [Read more...] about Keynote address by Deputy PM, FM Minh at conference reviewing 20-year participation in APEC
Atlantic global asset management reviews
All banks in the country have to adopt the standard version of Basel II and then switch to the advanced version by 2025. — Photo baokiemtoannhanuoc.vn In 2016 the State Bank set a deadline of January 1, 2020, for 17 banks to meet Basel II norms under a national banking sector development strategy. Also, by 2025 all banks in the country have to adopt the standard version of Basel II and then switch to the advanced version. Basel II is the second edition of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on banking supervision. It comprises minimum capital requirements, supervisory review and market discipline to enhance competition and transparency in the banking system and make banks more resistant to market changes. Basel II requires banks to have a capital adequacy ratio (CAR) of at least 8 per cent. However, the SBV has allowed 10 banks to adopt Basel II standards earlier than the 2020 deadline. They are Joint Stock … [Read more...] about Basel II deadline rapidly approaching, are banks on course to meet norms?
Hanoi (VNS/VNA) - Vietnam is expected to attract more investors as its economy is developing at a stable rate, with GDP growth of 7 percent. The country’s competitiveness has increased by 10 places in the 2019 Global Competitiveness Index , which was announced this week. The information was released by VinaCapital Co-Founder and CEO Don Lam at the two-day 2019 VinaCapital Investor Conference held in Hanoi earlier this week. He said after four consecutive years of holding its investor conference in Ho Chi Minh City, this year Vinacapital chose Hanoi because the capital city was becoming a leading destination for foreign direct investment in Vietnam. “Most investors come from the Republic of Korea and Japan, showing that the wave of Asian capital flow is interested in the Vietnamese market,” Lam said. VinaCapital, a leading investment management firm, plans to launch the VinaCapital100 ETF (exchange-traded fund) by the end of this year, with initial … [Read more...] about Vietnam’s outlook positive for investment attraction
In response to this development, VietinBank is proud to be granted the award “Best Foreign Exchange Provider” in Vietnam for 02 consecutive years by the prestigious world finance magazine Global Finance. Top of leading Bank in Foreign Exchange Market With the orientation promoting the foothold of VietinBank in the Foreign Exchange market as well as applying a lot of synchronous and effective business solutions, the Foreign Exchange operation of VietinBank achieves good results and gains strong growth, being one of the two leading banks in Vietnam Foreign Exchange market. In terms of Foreign Exchange turnover and market share, for the time being, VietinBank is leading the way in the interbank market as well as being one of the two largest banks about market share in the first market with market share accounting 13 - 15%. By the end of 2018, Foreign Exchange turnover ramped up more than 260% and profit went up by 300% compared to the year 2012. Up to August 2019, Foreign … [Read more...] about VietinBank, the Best Foreign Exchange Provider in Vietnam
Prime Minister Nguyen Xuan Phuc (centre) poses for a group photo with foreign investors (Photo: VNA) Hanoi (VNA) – Vietnam will work to maintain macro-economy’s stability and economic growth, while creating optimal conditions for businesses investing in the country, Prime Minister Nguyen Xuan Phuc has pledged. He made the vow while receiving a delegation of foreign businesses who have invested in the country in Hanoi on October 11. The PM highly valued the results of investment activities of partners of VinaCapital, which has 3.3 billion USD worth of assets under its management. He stressed that the country will spare no efforts to address bottlenecks to facilitate firms’ operation, noting Vietnam jumped ten places in the latest Global Competitiveness report of the World Economic Forum, marking the strongest rise in this year’s global ranking. The PM added that Vietnam wants to attract quality investment and investment in energy development to meet … [Read more...] about Vietnam creates optimal conditions for foreign investors: PM Phuc