A report from the Ho Chi Minh Securities Company shows that bank interest rates have risen by 0.46 percentage points for short-term loans since the end of last year to 7-9 per cent and to 9-12.5 per cent for medium- and long-term loans. — Photo vietnambiz.vn A report from the Ho Chi Minh Securities Company shows that bank interest rates have risen by 0.46 percentage points for short-term loans since the end of last year to 7-9 per cent and to 9-12.5 per cent for medium- and long-term loans. The report named lenders such as Agribank, Military Bank, Sacombank, VP Bank and ACB as adjusting their rates upwards in the last two months. The interest rate hikes are said to be the first sign of the central bank trying to reduce money supply to fight inflation. According to experts from the Ministry of Planning and Investment’s National Centre for Socio-economic Information and Forecast, inflation and exchange rates remain under control but are under great pressure, and so prudent … [Read more...] about Tight monetary policy: where can businesses find funds?
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With HEINEKEN named the most sustainable company in Vietnam, could you please share your company’s path to this prestigious recognition by the Vietnam Chamber of Commerce (VCCI)?At HEINEKEN, sustainability is an integral part of our entire supply chain. From the very first days of HEINEKEN in Vietnam, we have made a clear commitment to becoming a leading sustainable business in Vietnam. We do not measure success just in terms of revenue or profit – it is vital to us that our growth does not come at the cost of the environment and that we can positively contribute to improving the lives of the people and the communities here.Our sustainable strategy, ‘Brewing a Better Vietnam’, has six areas of focus, namely promoting responsible drinking, protecting water resources, reducing CO2 emissions, supporting our communities, sourcing sustainably and locally wherever possible, and promoting health and safety.With this strategy, we have made significant progress and … [Read more...] about Sustainability, essential key for business growth
Development gap hinders linkages in APEC auto industry Addressing the opening ceremony of the 26th APEC Automotive Dialogue (AD26) in Hanoi on May 11, Le Huu Phuc, Director of the MoIT's Department of International Relations, said that APEC should give priority to assisting developing economies in boosting the auto industry. He called for APEC member economies to cooperate effectively in capacity building to study auto industry policies, focusing on priority areas such as market access, human resources and infrastructure, technology incentives as well as environment standards for sustainable development. Regarding the fourth industrial revolution, Phuc said it will lead to the restructuring of the global manufacturing system, not only in technology but also in management and placing of new business models. New technology trends may disrupt value chains, possibly shifting a significant part of global production from developing to developed countries, he said, adding that access to … [Read more...] about BUSINESS NEWS 15/5
The DAIWA-SSIAM Vietnam Growth Fund II L.P (Daiwa-SSIAM II), an investment joint venture fund managed by the Saigon Securities Inc. Asset Management Ltd. Co. (SSIAM) and the Daiwa Corporate Investment Co. Ltd., has recently invested in Concung.com, a Vietnamese retail chain for maternal and baby products. “The facility will range between $4 and $6 million,” a representative from Saigon Securities Inc. (SSI) told VET, which is the average target investment set by the fund for each deal, she added. Concung.com was founded in 2011 and has since established 100 outlets in Ho Chi Minh City and some 20 other cities and provinces, bringing authentic and essential products of high quality, traceability, and reasonable prices to every household. It is also expanding and developing Toycity, a children toys retail concept, with the aim of providing Vietnamese children with more diverse, intelligent, high-quality, safe, and, in particular, reasonably-priced toys. The Concung.com … [Read more...] about SSI fund invests in Concung.com
3GF 2016: Roles of Business Community in the Limelight The Global Green Growth Forum (3GF) in 2016 with the theme of “A Call to Action” was held in Copenhagen, Denmark. The forum discussed green growth priorities where roles of the business community were emphasised. Just returning from 3GF 2016, Mr Nguyen Quang Vinh, Deputy Secretary General of the Vietnam Chamber of Commerce and Industry (VCCI), has granted an interview to Vietnam Business Forum on this event. Huong Giang reports. Mr Vinh said that 3GF, initiated by the Danish Government, has six member countries, namely Chile, Denmark, Ethiopia, South Korea, Kenya, Mexico, China and Vietnam. In 2016, Vietnam attended with the full membership status, headed by the Minister of Natural Resources and Environment Tran Hong Ha accompanied by representatives from the Ministry of Planning and Investment, the Ministry of Construction and other agencies. The representatives from VCCI joined as an advisor to the forum and a … [Read more...] about 3GF 2016: Roles of Business Community in the Limelight