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Nguyen Thi Hong, Governor of the State Bank of Vietnam, gives a report to the National Assembly during a meeting in Ha noi on May 24. - VNA/VNS Photo The programme, issued under Government Decree 42 in 2017, was set to be extended until the end of 2023. The programme, since its implementation five years ago, has contributed to the restructuring of numerous financial institutions and the collection of bad debt during the 2016-20 period, according to Nguyen Thi Hong, Governor of the State Bank of Vietnam (SBV). By the end of 2021, the programme had helped handle over VND380 trillion in bad debt, or 47.9 per cent of the country's entire bad debt since August 15, 2017. On average, some VND5.67 trillion in bad debt was processed each month during the period, significantly higher than the VND3.25 trillion per month prior to the implementation of the programme. The programme had helped recover VND148 trillion or 38.94 per cent of all bad debt among financial institutions, a marked … [Read more...] about State Bank asks for extension to bad debt programme

Unlike previous trading sessions, the demand for pillar stocks remained until the end of the trading session, instead of being sold off at G hour. The VN-Index rallied robustly by 14.57 points, or 1.2 percent, to close at 1,223.38 points. Although the VN-Index regained strongly, the number of winners and losers was quite balanced, with 224 advancers compared to 210 decliners. However, the number of gainers completely dominated the VN30 basket, with 26 gainers compared to four losers, namely HPG, KDH, PLX, and SAB. The driving force for the VN-Index continued to come from MSN, with an increase of 4.3 percent. The steadiness of MSN was the motivation for the rest of the stocks in the VN30 basket, such as GAS, VNM, FPT, VRE, VCB, TPB, STB, SSI, PNJ, and CTG. The bright spot in the trading session also included banking and securities stocks. After the previous series of corrections, this stock group simultaneously recovered thanks to the appearance of the bottom-fishing cash flow. … [Read more...] about VN-Index revives 15 points

At his meeting with British Cabinet Minister and President for the 26th United Nations Climate Change Conference (COP26) Alok Sharma, Khai said that Vietnam has been implementing many overall and comprehensive measures in the field of energy transition and growth model transformation towards a green and circular direction to realize commitments made at COP26. The official underlined that ensuring energy security for growth and reducing emissions at the same time is a very complicated problem that requires the support of the international community in terms of resources, technology, and governance capacity. Therefore, he said that Vietnam hopes that the U.K., the European Union (E.U.) and other member states of the Group of Seven (G7) will soon make specific commitments to supporting Vietnam in this area. For his part, Sharma held that Vietnam has made a proper decision to announce the net-zero emission commitment at the COP26, lauding Vietnam’s efforts to realize the commitments, … [Read more...] about Deputy PM busy with meetings on threshold of WEF meeting

The project, funded by the Government of the Republic of Korea, aims to build a smart tourism information system; develop an urban cultural tourism center, and expand the city’s walking zone network. In addition, smart lighting and surveillance camera systems will be installed along the banks of the Huong (Perfume) River together with the building of public administration capacity in tourism development and urban management. The project will provide technical solutions to accumulate tourism-related data and increase visitors’ access to necessary information. The project also covers the improvement of the urban environment by installing smart lights, public wifi network coverage, and cultural integrated areas. The project is significant since it both serves the people’s life and improves the quality of tourism services to become a spearheaded economic sector of the province. Hue is a top tourist destination in the Central region of Vietnam. Translated by Song Anh … [Read more...] about RoK supports Hue to build into a smart cultural and tourism city

Though the benchmark VN-Index has lost nearly 19 percent this year, the bank said it was confident about the long-term prospects of the market as companies have been "on a roll" in terms of growth and profits in recent years. The average earnings per share of listed companies had grown by 35 percent last year, and while trading had dipped in the last few months, the Vietnamese market had surpassed Singapore and Indonesia to become the second largest in Southeast Asia behind only Thailand. Local retail investors accounted for around 87 percent of trading. Though foreigners had been mostly withdrawing from the market for nearly three years, they "have started to dip their toes into this market again" in the past few weeks. This was because only seven of the 30 biggest stocks on the main bourse, the Ho Chi Minh Stock Exchange, had reached their foreign ownership limit. Overall the VN-Index had a foreign ownership limit of 44 percent, and current foreign holdings were at less … [Read more...] about HSBC optimistic about Vietnam stock market despite plunge

Thousands of residents in a poor commune in the northern central province of Thanh Hoa are calling for funding for a safer bridge. Suoi Khanh Bridge has deteriorated The remote mountainous commune of Co Lung in Ba Thuoc District home to a Thai ethnic group is located some 130 kilometres from Thanh Hoa City. Due to difficult terrain, travel has always been one of the biggest challenges for local people. Suoi Khanh Bridge lies on one of the most important routes in Co Lung Commune. The bridge that serves over 2,000 residents in four villages has now seriously deteriorated. According to the chairman of the Co Lung Commune People's Committee, Truong Van Thanh, the Suoi Khanh Bridge was built from wood in 1994. The 25-metre wooden bridge has deteriorated over time," the official said. "We’ve had to repair it many times, especially after flooding seasons, which meant hundreds of children could not travel to school while adults could not go to work." … [Read more...] about New bridge offers safe travel for thousands in poor Thanh Hoa commune

The famed river bridges of the Iranian city of Isfahan are a beloved tourist draw -- but much of the time their stone arches span just sand and rocks, not water. Women pose for a selfie along the bank of the Zayandeh Rood in Iran's central city of Isfahan on May 15, 2022 Drought and upstream water diversions have seen the Zayandeh Rood, "fertile river" in Persian, run dry since 2000, with only rare exceptions. Sitting on a quay with two friends, 60-year-old Jalal Mirahmadi gazed with melancholy at the riverbed, which became the site of a farmers' protest late last year. "When I was a child, the water flowed under the arches of the bridge and sometimes overflowed to spill into the surrounding streets," he sighed. The river runs nearly 400 kilometres (250 miles) from the Zagros Mountains in the west to Lake Gavkhouni in the east, making it the longest waterway in central Iran. On its way through Isfahan, it meanders under several beautifully crafted … [Read more...] about Iconic Iran river threatened by droughts, diversions

Illustrative image (Source: VNA) Hanoi (VNA) - Vietnam ’s aviation industry needs to improve to keep up with the global market as flights resume following the pandemic, Deputy Minister of Transport Le Anh Tuan said on May 24. He made the remark at an international seminar titled “Vietnam aviation in a post-pandemic world” organised by Tap chi Cong San (Communist Review) and the Ministry of Transport. There were 42 million international visitors out of 116 million air passengers in Vietnam in 2019, before the pandemic broke out. About half of them came to Vietnam to invest and seek business opportunities. The volume of goods shipped by air reached 1.5 million tonnes in 2019, which was rather low compared to other modes of transport but accounted for 25 percent of the value of exported goods. With a growth rate of over 15 percent per year in the 2010-2019 period, Vietnam's aviation market is considered to be the fifth fastest-growing market in the world and the … [Read more...] about Solutions sought to help Vietnam’s aviation industry take off

Workers processing seafood at a Vinh Hoan factory. VHC was among stocks lifting indices yesterday.-Photo seafood.vasep.com.vn On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index started off the afternoon session with an inverse head and shoulders pattern but later broke the neckline to reach 1,233.38 points, up 14.57 points, or 1.2 per cent. The market’s breadth was positive with advancers outnumbering decliners by 223 to 211. Notably, three stocks hit floor prices whereas six hit ceiling prices. The market’s liquidity was low with only 479 million shares traded on the southern bourse, equivalent to VND12 trillion (US$520 million). The 30 biggest stock tracker VN30-Index rose by 17.36 points, or 1.38 per cent, to end at 1,272.71 points. In the basket, 26 stocks climbed while four slid. Masan Group (MSN) continued to lead the market rally with a gain of 4.31 per cent. Other major stocks behind the pick-up included Vietcombank (VCB), Vietnam Dairy Products (VNM), … [Read more...] about Market ends bullish on strong buying forces

An aircraft of Vietnam Airlines at Buôn Ma Thuột Airport in Đắk Lắk Province.— VNS Photo Thanh Hải Viet Nam needs policies to support and remove difficulties for domestic airlines to regain their growth momentum in the post-COVID recovery period, transport experts said yesterday. At the seminar "Restoring and developing Viet Nam's aviation industry in a new context" organised by Communist Review, in collaboration with the Ministry of Transport (MoT), experts said the air transport industry has been seriously affected and they urge the government to create the market and the development corridor as a key to return to the growth trajectory of the aviation industry. Dinh Viet Thang, director of the Civil Aviation Authority of Viet Nam (CAAV) said: “The COVID-19 pandemic has delayed the development of the aviation industry and caused negative consequences for units in the air transport chain, especially the national airline Vietnam Airlines.” He added Viet Nam's aviation market … [Read more...] about Aviation industry needs more financial help to recover