Corporate

Hung Thinh Corporation and the Vietnam Football Federation (VFF) signed a sponsorship deal for paying South Korean coach Park Hang Seo to continue taking the helm at the Vietnamese national football team in Hanoi on Tuesday. Hung Thinh will be among the sponsors to provide funds for the VFF to pay the salary of Park and Vietnam’s other football pundits in the next three years. On November 11, the VFF and Park signed a new contract that lasts three years from 2020. Under the new contract, Park will be paid US$50,000 monthly in after-tax salary, a record-high payment of all time for a football manager in Vietnam, to coach both the country’s national football team and under-22 squad from 2020 to 2022. Hung Thinh agrees to provide the VFF with an undisclosed large amount of money to pay that salary, in the hope of promoting the development of Vietnamese football. A part of that amount will be used to remunerate foreign football experts working for Vietnam. “This … [Read more...] about Realty corporation Hung Thinh sponsors Vietnam Football Federation to pay Park Hang Seo

  Overview of the conference. Experts said local producers and suppliers urgently need efficient financing to support their trade cycles with global partners. —  Photo courtesy of IFC HCM CITY — When trade grows, promoting supply chain financing will help improve the competitiveness of micro, small and medium enterprises (MSEME) in Việt Nam, enabling them to join global supply chains, experts said at the fourth annual conference on supply chain financing in Asia-Pacific in HCM City on Monday. Việt Nam’s foreign trade volume has increased in recent years, with free trade agreements opening up new market opportunities for local businesses. However, lack of working capital and transaction banking services such as supply chain finance (SCF) partially hinders producers and suppliers from accepting large orders or developing new relationships with their value chain actors. Without SCF solutions, suppliers and distributors are not able to … [Read more...] about Việt Nam needs to promote access to supply chain financing : experts

In 2019, BIC has targeted total premiums of 2.2 trillion VND and consolidated profit before tax of 223 billion VND. (Photo vnr500.com.vn Hanoi (VNA) - The BIDV Insurance Corporation (BIC) has reported pre-tax profit of 202.8 billion VND (9 million USD) in 2018, exceeding its yearly target by 6.7 percent and representing a year-on-year rise of 8.8 percent. Its total premiums reached 2,105 billion VND (90.7 million USD), up 16.3 percent year-on-year and surpassing its goal set for 2018 by 3.2 percent. BIC - the insurance arm of the Bank for Investment and Development of Vietnam (BIDV) - posted strong growth of 50 percent in bancassurance sales (selling insurance to bank customers). In 2019, the company has targeted total premiums of 2,202 billion VND (94.8 million USD) and consolidated pre-tax profit of 223 billion VND (9.6 million USD). Its joint venture in Laos – Lao Viet Insurance Co (LVI) - reported premium revenue of 13.3 million USD, 3.6 percent higher than its yearly … [Read more...] about BIDV Insurance Corp rakes in 9 million USD in pre-tax profit

Non-life insurers earn 1.78 billion USD revenue in 2017 (Photo VNA) Hanoi (VNA) - Non-life insurance premium in 2017 continued its sustained growth, with an estimated revenue of 40.5 trillion VND (1.78 billion USD), representing an 11 per cent year-on-year increase. According to the Ministry of Finance’s Insurance Supervisory Authority (ISA), total assets of non-life insurance companies reached 73.6 trillion VND in 2017, while 38.8 trillion VND were re-invested into the economy. Insurers also paid 14.95 trillion VND for customers. Reports from insurers revealed positive business results in 2017. A representative of BaoViet Insurance Corporation said it surpassed its set target with insurance premium revenue of more than 8.5 trillion VND, which was higher than the market’s average growth. BIDV Insurance Corporation (BIC) said its total revenue from insurance premium last year was estimated at 1.82 trillion VND, increasing 9.2 percent from the previous year. … [Read more...] about Non-life insurers earn 1.78 billion USD revenue in 2017

At the 4th APEC Supply Chain Finance Conference in HCM City on November 11 (Photo: VNA) HCM City (VNA) – Vietnam has been in short of supply chain finance solutions, which help local firm expand their business and penetrate into new markets, heard a conference in Ho Chi Minh City on November 11. Experts said that Vietnam has recorded robust export growth in recent years, with free trade agreements opening up new market opportunities for local firms. However, a lack of working capital and transaction banking services like supply chain financing partially affect local suppliers’ ability to accept large orders or develop new relationships with their partners in the value chain. Without supply chain finance solutions, it would be difficult for both suppliers and distributors to optimise their capital management by converting their sales receivables and inventories into cash and accessing to lower-cost credit, they said at the fourth annual conference on supply chain … [Read more...] about Vietnam lacks supply chain finance services: conference