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Actresses and actors bring the drama alive (Photo: VietnamPlus) Hanoi (VNA) – Directors Lam Tung of Vietnam and Kim Min-jeong from the Republic of Korea (RoK) have worked together to create a drama about the wounds people carry in their hearts after the war and women’s desire for happiness. The special art project aims to celebrate the 30th founding anniversary of diplomatic relations between the two countries this year. As heard at an October 12 press conference, the play's script was adapted by author Vu Thi Thu Phong from Duong Huong’s novel 'Ben khong chong' (Quay of the spinsters) which has been adapted to film several times. It is a joint work between the Vietnam National Drama Theatre and the Korea Association of Performing Arts Producers (KAPAP). The drama is set in Dong village, a typical rural village in the Northern Delta of Vietnam. Characters in the story are women caught between the backward customs and prejudices from their families and neighbours. The objections … [Read more...] about Vietnamese, Korean directors join hands in post-war-period drama

Entering 2023, Microsoft and Google announced global lay-offs of 10,000 and 12,000 employees, respectively. IBM laid off nearly 4,000 members, while Spotify cut about 6 per cent of staff. Since November last year, Meta, Amazon, and HP have also adjusted thousands of positions. Tech lay-off wave continues to bite at Vietnam’s heels, Illustration photo/ Source: freepik.com In Southeast Asia, Shopee parent company Sea Group, Crypto.com, e-commerce platform JD.ID, and GoTo – a merger between ride-hailer Gojek and e-commerce platform Tokopedia – are among the companies that experienced a drastic staff cut in the past year. GoTo in November 2022 cut 1,300 jobs, equivalent to 12 per cent of the number of employees, while Sea Group let go of 7,000 employees in the past six months. Both companies cited a common cause being challenging macroeconomic conditions. Industry insiders in Vietnam are generally wary of the effect this laid-off wave might have on the domestic market. … [Read more...] about Tech lay-off wave continues to bite at Vietnam’s heels

After Meta, Amazon, Twitter, and Tesla, Xiaomi has become the next name to join the list of leading tech companies forced to cut staff. In a December 20 announcement, a Xiaomi representative confirmed that about 10 per cent of the total workforce will be affected by the reduction policy implemented by the company to “optimise full-time and organisational rationalisation”. Tech group lay-off wave reaches Vietnam, illustration photo/ source freepik.com Xiaomi had over 35,300 employees as of the end of September, according to its third-quarter earnings report. It is expected that about 5,000 Xiaomi employees will ultimately be affected in the near future, mainly those working in the smartphone and internet service business units. The decision by the fifth-largest smartphone vendor in the Chinese market comes after seeing a 9.7 per cent drop in Q3 results on-year. Xiaomi is not the only tech company in Asia to start laying off staff. A week earlier, online commerce … [Read more...] about Tech group lay-off wave reaches Vietnam

HDBank has achieved 105 per cent of the 2022 targets approved by shareholders. The bank hopes to maintain its high growth momentum with an average rate of more than 25 per cent in the next five years. — Photo courtesy of the bank The Ho Chi Minh City Development Joint Stock Commercial Bank has announced its results for 2022, which show it exceeded all its targets and achieved high growth. Its profit before tax was VND10.27 trillion (US$435.8 million), up 27.2 per cent from 2021 and 105 per cent of the target approved by sharehoders. Its net fee income grew dramatically, while its prudential and profitability ratios were among the best in the industry. The total operating income topped VND5.87 trillion ($249.1 million) for the fourth quarter and VND21.97 trillion ($933 million) for the entire year, a year-on-year increase of 26.8 per cent and 31.1 per cent. The net interest income grew by 29.7 per cent and the net fee income by 53.4 per cent. Operating expenses and credit … [Read more...] about HDBank profits top $436m in 2022, 105 per cent of target

Illustrative photo (Source: thoibaonganhang.vn) Hanoi (VNA) – Vietnam’s e-commerce is projected to continue booming in 2023 and developing firmly in the following years, aided by a series of growth drivers such as the wave of digital transformation, consumers’ trust, technological infrastructure, and favourable mechanisms and policies issued by the Government. Boasting some 100 cross-border e-commerce platforms, Vietnam has been ranked among the top five nations with regard to the sector’s growth of 20% a year by eMarketer. Last year, the country’s top four platforms – Shopee , Lazada , Tiki , and Sendo – generated 135 trillion VND (5.73 billion USD) in revenues. Meanwhile, the scale of the country’s retail e-commerce market was estimated to reach 16.4 billion USD last year, accounting for 7.5% of the country’s goods and service revenues. There were approximately 57-60 million Vietnamese people shopping online, with their spending averaging 260-285 USD. … [Read more...] about Vietnam’s e-commerce forecast to continue booming

Through IFC's new investment, SeABank expects to at least double the number of lower and mid-end housing loans by 2026. — Photo courtesy of the bank IFC on Tuesday announced it has invested US$100 million in Southeast Asia Commercial Joint-Stock Bank (SeABank) which aims to boost access to housing loans. With a rapid annual urbanisation rate of 3 per cent, half of the Vietnamese population – about 50 million people – is expected to live in urban areas by 2040. This creates the need for an estimated 374,000 additional housing units every year. However, the limited availability of long-term funding has restricted access to housing finance, especially challenging for lower and middle-income homebuyers, who need longer-term funding due to low levels of income. Through the investment, SeABank expects to at least double the number of lower and mid-end housing loans by 2026. In addition, the project is expected to create thousands of new jobs in construction and other related sectors. … [Read more...] about IFC invests another $100m in SeABank to boost access to housing loans

Captain and vessel owner Le Quang Anh of Tam Hai commune, the province’s Nui Thanh district, said that before any fishing trip, he brings documents to Ky Ha port border guard station for registration. The documents include the list of crewmembers, their working positions, hull insurance contract, crew insurance, and the vehicle's license plate. He said that in addition to bringing along fishing equipment and tools, fishermen must fully comply with regulations on the at-sea fishing process following the Law on Fisheries. For offshore fishing vessels, these requirements are much stricter to restrict their operation in other countries' fishing grounds. Local authorities, border guards, coast guards, and fisheries surveillance forces regularly tell fishermen about the legal process of sea fishing, and this make them better aware of obeying relevant regulations. Anh said that offshore fishing vessels in the district are required to install kinds of necessary equipment including … [Read more...] about Quang Nam fishermen pledge to implement regulations against IUU fishing

ASEAN countries like Vietnam are not spared from the impact of climate change. Rapid economic development also means increasing demand for energy and power to meet the pace of growth, which leads to an increase in CO2 emissions. The journey to a cleaner future Takeshi Masuyama, Managing director, regional head of Vietnam, MUFG Bank, Ltd. The Vietnamese government has announced in various international forums its commitment to address environmental issues, and has firmed up its national net-zero target. In addition, the announcement of the Vietnam Just Energy Transition Partnership (JETP) in last December is another milestone and will further rally the private and public sectors towards accelerating the country’s green transition. MUFG is part of the working group convened by the Glasgow Financial Alliance for Net Zero (GFANZ) supporting the JETP initiative for Vietnam. The sustainability mission Since announcing our Carbon Neutrality Declaration in 2021, MUFG … [Read more...] about Committed to empowering a brighter future

Foreign tourists visit old quater in Ha Noi city. Tourism will be a key one in 2023. — VNA/VNS Photo Minh Quyet Despite slowing trade, there are still pockets of resilience in Viet Nam’s economy. Tourism will be a key one in 2023, HSBC said in a report. In its Vietnam at a glance report on tourism to the partial rescue released early this week it said Viet Nam’s domestic tourism had been roaring, but international tourism, which historically accounted for 60 per cent of tourism receipts, saw a tepid recovery. That said, there were good reasons to expect a more meaningful recovery, in particular after China’s reopening, a 50-80 per cent return of Chinese tourists could be achievable. Following Viet Nam’s re-opening last March, its domestic tourism had been roaring, with Viet Nam easily surpassing its 2022 target of 60m and recording over 100m tourists. Meanwhile, Viet Nam welcomed 3.6m international tourists in 2022, mainly driven by travellers from South Korea (26 per cent) and … [Read more...] about VN’s Tourism Industry to bounce back in 2023: HSBC

Prime Minister Pham Minh Chinh's visit to Singapore aims to affirm both nations’ desire to take their economic connectivity to new heights in the context of a series of new-generation free trade agreements (FTAs) coming into effect and being implemented. Prime Minister Pham Minh Chinh (L) and his Singaporean counterpart Lee Hsien Loong PM Chinh, his spouse, and a high-ranking delegation of Vietnam will pay an official visit to Singapore from February 8 to 10 at the invitation Singaporean PM Lee Hsien Loong. The visit takes place amid the dynamic and strong development of the Vietnam - Singapore strategic partnership across multiple fields. This year will see the two countries celebrate the 50th anniversary of their diplomatic relations and the 10th anniversary of their strategic partnership. In 2022, the exchange of delegations and high-level meetings between the two countries was maintained both regularly and effectively. This saw a trip to Singapore by … [Read more...] about PM’s Singapore visit to take economic co-operation to new heights