Equality diversity and inclusion policy

On September 16, Quang Nam chose India as the first destination of its first provincial tourism promotion programme since the pandemic, opening the door for further activities set to take place elsewhere in the coming months. Deputy director of the Quang Nam Department of Culture, Sports, and Tourism Van Ba Son said many tourism products and services of the province had been introduced to Indian partners during a four-day event in Mumbai city in mid-September. Businesses and travel associations from both sides also reached an agreement on cooperation in exchanging guests, opening up more attractive development opportunities for the tourism industries of the two countries in the future. “We chose India because this country is in the top 10 largest international tourist markets in Vietnam. The number of Indian tourists coming here is increasing, the two countries also have many similarities in culture and religion and both have advantages in developing cultural tours,” Son said. … [Read more...] about New approaches in Vietnam’s tourism

The life insurance segment, which accounted for 70% of total premiums, bore the brunt of the drop. Some insurance companies reported a fall of 30-40% in post-tax profits for the year’s first half. The industry recently faced its biggest ever crisis after customers claimed to be defrauded by banks who sold life insurance packages purporting them to be deposits. The Ministry of Finance currently investigating life insurance companies’ partnership with banks, known as bancassurance. Some insurers have been making changes in their policies to ensure customers are aware of what they buy. They include a new "welcome call" to first-time customers to ensure they are aware of the key aspects of the contract. The ministry also proposes fines of up to VND100 million for insurance consultants who fail to explain to customers their rights or coerce people into paying premiums. … [Read more...] about Insurance premiums decline for first time in years

Practical power direction can propel SOE fortunes At a seminar last week co-hosted by VIR and the Commission for the Management of State Capital at Enterprises (CMSC), Pham Van Son, head of the CMSC’s General Department, said that the 19 groups and corporations under it have undergone significant changes in the past few years. As of the end of 2022, the total consolidated ownership capital of these groups and corporations accounted for approximately 63 per cent of the total equity and 65 per cent of the total assets of state-owned enterprises (SOEs). “In comparison to 2018, the total consolidated equity increased from over $45.6 billion to more than $49.6 billion, and the total consolidated assets rose from over $98.5 billion to $103.8 billion. Key production and business indicators achieved annual growth,” he said. Notably, these 19 groups and corporations have received approval, implemented, and completed investments in 185 group A projects and 455 group B projects. Since … [Read more...] about Practical power direction can propel SOE fortunes

Business and productions targets were all exceeded in 2021 and profits were at a record high in 2022 The group (Vinachem) is expected to acquire VND54.5 trillion (nearly $2.3 billion) in industrial production, $2.4 billion in revenues, and $146.4 million in profit for the year. It reported record profits last year. With close and timely attention and direction from the central government, ministries, and branches, Vinachem’s four weakest projects and businesses have seen positive changes. The project of DAP-Vinachem JSC has had stable production since 2017, with annual profits and no accumulated losses since January 2022. This project was also removed from the list of 12 loss-making mega projects. In addition, Vinachem’s three fertiliser production units have maintained production, gradually increasing the average capacity to match the designed capacity. Specifically, after being renovated and expanded, the Ha Bac fertiliser plant still maintains safe and continuous operation, … [Read more...] about Vinachem flourishes through positive adjustments

Shipwrecks have been left abandoned on the bank of a river in Nha Trang City, Khanh Hoa Province, south-central Vietnam for years, causing environmental pollution there. Nguyen Thi Ha, 49, living near the bank of the Tac River in Nha Trang, said, “These wrecks have been lying here for a long time but they have yet to be salvaged and handled. Planks and plastic panels from the ships float on the water, causing pollution.” Most of the broken ships there were salvaged after sinking at sea, Tran Hoc, a 45-year-old fisherman, affirmed. The ship owners left them there as it costs nearly VND100 million (US$4,118) to repair each of such ships. “We can clean up garbage ashore but these ships are their assets. Many ship owners have even traveled to other places to earn their living and we could not contact them,” Hoc explained. These shipwrecks are left abandoned by their owners. Photo: Minh Chien / Tuoi Tre These wrecks have been left on the riverbank for nearly a … [Read more...] about Wrecks smear riverbank in Vietnam’s Nha Trang