Bolster digital

Vietnam and Japan on Sunday jointly inked three agreements, valued at 61 billion yen (US$442.5 million), to fund new-generation official development assistance (ODA) projects in Vietnam. Of the total, 50 billion yen ($362 million) will be poured into a new-generation ODA program on post-pandemic socio-economic recovery and development. The rest will finance a project improving the public transportation system in southern Binh Duong Province and another one enhancing the infrastructure system for agricultural development in the Central Highlands province of Lam Dong. The signing of these ODA deals was witnessed by Vietnamese Prime Minister Pham Minh Chinh and his Japanese counterpart Kishida Fumio during the former’s trip to Japan for attending an expanded summit of Group of Seven (G7) nations, which took place from May 19 to 21. After the signing ceremony for the agreements, PM Chinh held talks with his Japanese counterpart. This is the first Vietnam-Japan high-level … [Read more...] about Vietnam, Japan sign new-generation ODA deals worth over $440mn

At the Vietnam - Slovenia business forum (Photo: VNA) HCM City (VNA) – Vietnam and Slovenia are eyeing major changes to the way they do business, to make a breakthrough in multi-faceted trade and investment cooperation, heard a Vietnam-Slovenia business forum in Ho Chi Minh City on May 22. Vo Van Hoan, Vice Chairman of the HCM City People’s Committee said that Vietnam and Slovenia have enjoyed expanded ties since they set up their diplomatic relations in 1994. He highlighted similarities between the two sides in history and economic development, with a large number of small and medium-sized enterprises. The two countries are gateways to the EU and ASEAN, said Hoan, holding that this is a good time for the two sides to deepen their partnership. The EU-Vietnam Free Trade Agreement (EVFTA), along with finalising EU-Vietnam Investment Protection Agreement (EVIPA), has opened new opportunities for the two sides to foster trade and investment ties, he said. Hoan … [Read more...] about Vietnam, Slovenia seek to deepen trade, investment partnership

(Illustrative photo: VNA) Hanoi (VNA) – Country General Manager of IBM Vietnam Tan Jee Toon still remembers the first time he set foot on Vietnam seven years ago for his challenging tenure (2013-2015). It was in the final stage of the global financial crisis and at that time Vietnam’s macro-economy dropped to the lowest level. Activating digital technology innovations Assessing Vietnam’s business potential in the new context, Tan Jee Toon underlined that it is easy to see the boom of the retail and property sectors. People’s living standards have significantly improved and investments have been poured into automation, digitalisation and digital transformation. Spearhead areas such as banking and manufacturing have activated initiatives supporting information technology transfer. Country General Manager of IBM Vietnam Tan Jee Toon Tan Jee Toon said that the increase of consulting services on comprehensive digital transformation reflects domestic firms’ demand … [Read more...] about Vietnam promising market for US investors

This remarkable financial agreement, set to span over a five-year term, aims to bolster OCB's lending portfolio specifically for small and medium-sized enterprises (SMEs). The significance of this loan cannot be overstated, especially given the prevailing economic challenges faced by both the global and Vietnamese markets. OCB's leadership expressed their elation, saying, "This news is a cause for celebration not only for OCB but also for our valued customers amidst the arduous economic landscape. This capital infusion will empower OCB's SME clientele by granting them access to loans with favourable interest rates, thereby facilitating investment and fostering business expansion in the current phase of economic growth." Thomas Jacobs, IFC country director for Vietnam, Cambodia, and Laos, underscored the importance of credit availability for SMEs, especially during times of global economic uncertainty. "SMEs are crucial agents for recovery, growth, job creation, and … [Read more...] about OCB secures $100 million loan from IFC to empower SMEs

Hanoi (VNA) – Leaders of the Association of Southeast Asian Nations (ASEAN) recently declared to advance regional payment connectivity and promote local currency transactions . According to a Google, Temasek and Bain & Co. report, ASEAN’s booming digital payment market is expected to hit 2 trillion USD by transaction value in 2030. Recognising the potential benefits of using local currencies, they emphasised the importance of strengthening financial resilience, deepening regional financial integration, and bolstering regional value chains. To achieve these goals, ASEAN leaders pledged to leverage emerging opportunities brought by innovation to facilitate seamless and secure cross-border payments, taking into account the unique circumstances of each country. In the process, technology is pivotal in advancing regional payment connectivity within ASEAN by enabling faster, cheaper, safer, transparent, and inclusive cross-border payment systems and services using local … [Read more...] about ASEAN promotes regional payment connectivity

On behalf of the unit’s Party Committee, Chief of the unit’s Department of Political Affairs Senior Colonel Nguyen Van Trong briefed the delegation on the unit’s performance of the democratic regulations. Since the beginning of 2022, the Army Corps 16 Command directed its affiliated units to strictly implement all resolutions and directives of the Party, State, CMC, Ministry of National Defense, instructions of the GDP on the enforcement of democratic regulations at the grassroots level, in accordance with the unit’s assigned tasks. Accordingly, the unit’s chains-of-command at all levels strictly ensured democratic regulations in their leadership. Concluding the inspection, General Gau underscored that the unit has directed its troops to implement resolutions and directions of the Party, State, CMC, MND and instructions of the GDP on democratic regulations’ enforcement, thereby raising troops’ awareness and promoting solidarity during performing assigned missions. Besides, … [Read more...] about CMC inspects unit’s enforcement of democratic regulations