Banking

HDBank reduces interest rates by 0.5 percent - 3.5 percent per annum for customers who borrow money for production and business activities. (Photo: SGGP) Although deposit interest rates in the market remain hot, a few banks have suddenly cut lending rates to support enterprises that need capital for production and business activities, as well as for the preparation of goods for Tet in the last month of the year. After Vietcombank reduced the interest rate by 1 percent for business loans in Vietnamese dong from November 1, 2022, to December 31, 2022, on November 28, HDBank also announced an interest rate cut for more than 43,000 customers in various business sectors. Accordingly, from November 1 to December 31, 2022, this bank will lower lending interest rates by up to 3.5 percent per annum for individual and corporate customers in different sectors, with interest rate reductions totaling VND120 billion. Specifically, for individual customers, HDBank reduces interest rates for … [Read more...] about Banks slash lending interest rates by up to 3.5 percent per annum

Prime Minister Pham Minh Chinh attends a ribbon cutting ceremony to open Green Economy Forum and Exhibition 2022. Prime Minister Pham Minh Chinh, Minister of Industry and Trade Nguyen Hong Dien, Minister of Natural Resources and Environment Tran Hong Ha, Minister of Agriculture and Rural Development Le Minh Hoan, Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai, representatives of EU members, diplomatic and trade promotion officials, international financial institutions, World Bank, more than 1,000 businesses who are members of EuroCham and Vietnamese enterprises attended the event. Prime Minister Pham Minh Chinh delivers a statement at the conference. Representatives of EuroCham said that the GEFE 2022 aimed at supporting Vietnam to meet the COO26 commitments and complete the development goals noted in the National Green Growth Strategy from 2021 through 2030. Experts, enterprises and policymakers from Europe, Vietnam and Southeast Asia will join in forums … [Read more...] about EU, Vietnam to promote sustainable development cooperation

Hanoi - An international conference was held in Hanoi on November 25 to seek the enhancement of cooperation with global investment institutions to mobilise green finance for State-owned enterprise (SoE) restructuring and sustainable development. A wind and solar power project in Thuan Bac district, Ninh Thuan province (Illusstrative photo: VNA) Pointing out changes in the global economy and emerging trends like digital transformation, green transition, and the re-shaping of supply and production chains, Minister of Foreign Affairs Bui Thanh Son said it is of great necessity to establish equal partnerships, public - private partnerships, and multi-party partnerships to work towards sustainable development. Multilateral development banks, development partners, multinationals, and global funds are playing an increasingly important role in providing green investment, green finance, and technological and human resources for development, he noted, adding that effectively … [Read more...] about Int’l conference discusses green finance for sustainable development

Dinh Hoang Giang, director at building material corporation Secoin, said it is exporting adobe bricks to approximately 60 countries. Most partners have strict requirements on the environment and to meet the demand of clients, Secoin has been making great efforts to manufacture environmentally friendly and non-polluting products. “We have plans to cover facility roofs with solar panel systems to save energy, and apply solutions to prevent greenhouse gas emissions,” Giang said. “ESG (environmental, social, and governance) will be an advantage for export companies, which contributes to fostering competition capacity for their products and could lead to an impact on orders. However, to be honest, we do not fully understand and cannot fully apply related criteria.” Private businesses admit uphill task to implement ESG Secoin is one of many businesses and financial institutions in Vietnam that are stepping up their journey in ESG considerations and reinforcing commitments to … [Read more...] about Private businesses admit uphill task to implement ESG