Representatives of the Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) and the Japan Bank for International Co-operation (JBIC) at the signing ceremony. — Photo courtesy of Vietcombank The Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) and the Japan Bank for International Co-operation (JBIC) signed a contract to finance a capital of US$300 million to support renewable energy projects in Ha Noi on Wednesday. After successfully implementing a $200 million credit package signed in June 2019, that JBIC and major Japanese banks continue to provide a second loan worth $300 million to Vietcombank further affirms the bank's prestige to international financial institutions; at the same time, affirming the close co-operation relationship between JBIC and Vietcombank in contributing to sustainable economic development, promoting regional integration and environmental protection in Viet Nam. Speaking at the ceremony, Nguyen Thanh Tung, … [Read more...] about Vietcombank and JBIC sign $300 million credit contract to finance renewable energy projects
Credit organisations
Vietcombank urged to promote leading role in banking sector
Prime Minister Pham Minh Chinh speaks at the meeting. (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh on March 31 asked the Commercial Bank for Foreign Trade of Vietnam (Vietcombank) to carry forward its leading role among credit institutions while addressing a meeting celebrating the 60th anniversary of the State-owned lender in Hanoi on March 31. Pointing to the complex, unpredictable global situation, the PM asked the State Bank and the banking sector to continue implementing cautious and flexible monetary policies, in concerted coordination with suitable fiscal policies and clear focuses in order to maintain the macro-economic stability, control inflation, spur growth and ensure major economic balances. The government leader also urged the banking sector to step up its analysis and forecasting work, keep a close watch on both domestic and international situation with a view to taking timely, effective policy response. The banks should continue to … [Read more...] about Vietcombank urged to promote leading role in banking sector
New national-standard schools in Hanoi accredited
The number of national-standard schools in Hanoi has increased to 1,620, or 72.3% of all the schools in the city. Hanoi aims to have more than 170 new national-standard schools this year, an increase of 22% from the previous year, according to the municipal Department of Education and Training. Representatives of new national-standard schools in Hanoi receive certificates from the Department of Education and Training. Photo: The Hanoi Times A total of 130 new national-standard schools, including 46 kindergartens, 53 elementary schools, 28 secondary schools, and three high schools, were to be built this year under the original proposal from the department. As of the end of February, local authorities expected the city's overall number of national-standard schools to rise by 40 units to 173 for the year. In 2022, Hanoi had 142 new national-standard schools certified, more than doubling the target of 70 new national-standard schools established at the start … [Read more...] about New national-standard schools in Hanoi accredited
Project proves women’s role in increasing community’s resilience to natural disasters
People see some results of project on enhancing women 's role in increasing the resilience o the coastal community and eco-system in the central region of Vietnam.(Photo: VNA) Thua Thien-Hue (VNA) – The Centre for Social Research and Development (CSRD) on March 29 held a workshop in the central city of Hue to summarise the results of its project on enhancing women’s role in increasing the resilience of the coastal community and eco-system in the central region of Vietnam. The 66,752 Euro (72,323 USD) project, sponsored by UP Transfer - Potsdam University of Germany, was implemented between 2021 and 2023. Its main components include building a mangrove nursery managed by the community and planting Sonneratia caseolaris (commonly known as mangrove apple) in the lagoon area of Hai Duong commune, Hue city. The project coordinated with the Women's Unions of communes near Tam Giang lagoon to organise communications activities on ecosystem-based natural disaster risk reduction … [Read more...] about Project proves women’s role in increasing community’s resilience to natural disasters
People-to-people diplomacy brings Vietnamese, Malaysian cultures closer
President of the Vietnam-Malaysia Friendship Association Ngo Sach Thuc (Photo: VNA) Hanoi (VNA) – President of the Vietnam-Malaysia Friendship Association Ngo Sach Thuc has highlighted the important role of people-to-people diplomacy in the bilateral ties in an interview granted to the Vietnam News Agency on the occasion of the 50th anniversary of the Vietnam-Malaysia diplomatic relations (March 30, 1973-2023). Since the establishment of diplomatic relations, especially the upgrading of the relationship to a strategic partnership in August 2015, Vietnam-Malaysia ties have been developing fruitfully, Thuc said, noting that currently, Vietnam is the only strategic partner of Malaysia in ASEAN. Their cooperation in labour, education, and tourism has produced positive results. Notably, Malaysia was one of the top ten biggest Asian sources of tourists to Vietnam with some 400,000 visitors recorded in 2017. In the field of trade, Malaysia was Vietnam’s second-largest … [Read more...] about People-to-people diplomacy brings Vietnamese, Malaysian cultures closer
South-central coastal provinces work hard to combat illegal fishing
Illustrative image (Source: VNA) Binh Thuan (VNA) – The south-central coastal provinces of Ninh Thuan and Binh Thuan have taken a wide range of measures to prevent illegal, unreported, and unregulated (IUU) fishing in a bid to have the European Commission (EC)'s “yellow card” warning against Vietnam's seafood exports removed. According to the Binh Thuan Department of Agriculture and Rural Development, the locality's total catch in the first quarter of 2023 reached 47,600 tonnes, equivalent to 22.7% of the year plan and up 7% from the same period last year. Since early this year, local competent agencies have coordinated with authorities in coastal localities in educating local residents on legal regulations regarding IUU fishing prevention and control; managing fishing boasts in ports and at sea through vessel monitoring systems (VMS). The department said as of March 9, as many as 1,930 fishing boats in Binh Thuan were equipped with VMS, or 99.4% of the total. … [Read more...] about South-central coastal provinces work hard to combat illegal fishing
Foreign SMEs pour capital into Vietnam
Illustrative image (Photo: VNA) Hanoi (VNA) – Foreign small- and medium-sized enterprises (SMEs) are paying much attention to Vietnam, given the fact that the number of under-1-million USD projects accounted for nearly 70% of the total number of foreign-invested projects registered in Vietnam in the first three months of this year. According to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, in the first quarter, Vietnam attracted nearly 5.45 billion USD in foreign direct investment ( FDI ), down 39% year on year. Of the total, over 3 billion USD came from 522 newly-licensed projects, up 62% in a number of projects but down 6% in capital compared to the same period last year. Among these new projects, the combined capital of under-1-million USD projects accounted for only 2.2% of the total newly-registered investment. Meanwhile, some 1.2 billion USD was added to 228 existing ones, representing a hike of 3% in a number of … [Read more...] about Foreign SMEs pour capital into Vietnam
ICAEW, KPMG continue to develop high-quality financial human resources in VN
Mark Billington, Managing Director, International, ICAEW (left) and Warrick Cleine, Chairman & CEO of KPMG in Vietnam and Cambodia (right), signed an extension of cooperation on developing high-quality human resources in Việt Nam. — Photo courtesy of the company The Institute of Chartered Accountants in England and Wales (ICAEW) and KPMG in Viet Nam will continue to cooperate in developing high-quality human resources in Viet Nam, according to a recent renewal of their existing Memorandum of Understanding (MoU). The new MoU on developing high-quality human resources aims to meet the new requirements of the domestic financial market, which is opening up to extensive international integration. Under the framework of the three-year cooperation agreement, the two sides will continue to work together in creating favourable conditions in terms of finance and time for young talents who study ICAEW ACA programmes, in order to develop their careers in the fields of finance, … [Read more...] about ICAEW, KPMG continue to develop high-quality financial human resources in VN
EPR clarity sought to keep costs low
The European Chamber of Commerce in Vietnam (EuroCham) has explained that rules in Vietnam on extended producer responsibility (EPR) introduced a mandatory recycled content rate in products introduced into the domestic market. EPR in Vietnam is implemented via Decree No.08/2022/ND-CP implementing some articles in the Law on Environmental Protection, and an additional circular that were both made effective in January 2022. But these rules are deemed not enough. EPR clarity sought to keep costs low, illustration photo “Today many recyclers don’t have, for example, the proper wastewater treatment. We would like to recommend publishing a clear list of criteria, including environmental criteria, considering international standards that the recyclers must fulfil in order to be registered as a recycler,” EuroCham cited at the Vietnam Business Forum organised over a week ago in Hanoi. There are many systems to track waste such as composition, dirtiness, and other properties … [Read more...] about EPR clarity sought to keep costs low
Packaging provider SIG reinforces sustainability commitment in Asia
SIG's solar-powered factory, one of the biggest in the region, produces with 100 per cent renewable electricity As SIG has just celebrated its 25 th anniversary of its packaging plant for aseptic carton packs in Thailand, c ould you share a significant milestone of your time in Southeast Asia? Through our 25 years in Southeast Asia, the pursuit of excellence towards a greener future underpins everything that we do. Our motivation to design eco-friendly packaging across all product lines drives us to pioneer top-notch technology to our clients with adaptable solutions, and ultimately assist them in transforming their businesses for the better. The SIG Rayong plant began operations in 1998 and spans across 109,600 sqm, supplying customers in Asia Pacific and South Asia, specifically in Southeast Asia, Australia, Japan, and India. The plant has the capacity to produce around 11 billion aseptic carton sleeves per year for brands such as Thai Denmark, Nestlé, … [Read more...] about Packaging provider SIG reinforces sustainability commitment in Asia