Gold medals

The Government recently issued Decree No.86/2019/ND-CP regulating the minimum legal capital levels of foreign banks’ branches and credit institutions operating in Vietnam. HSBC is among large foreign banks in Vietnam. (Photo: thebank.vn) Accordingly, legal capital of foreign commercial banks is set at 3 trillion VND (129.29 million USD), while the levels for policy banks and cooperative banks are 5 trillion VND and 3 trillion VND, respectively. The legal capital for foreign banks’ branches is 15 million USD, and 500 billion VND for financial companies, 150 billion VND for financial leasing firms, and 5 billion VND for microfinance institutions. The Decree will take effect from January 15, 2020. Foreign credit organisations and banks’ branches that were licensed and began operation before the date the decree takes effect must ensure that their registered capital must be at least equivalent to the legal capital prescribed by this decree by the date it takes … [Read more...] about Legal capital levels set for foreign financial organisations in Vietnam

MoIT concerned over potential electricity shortages Minister of Industry and Trade Tran Tuan Anh sounded the alarm about the high risk of power shortages at a meeting earlier this week. In a report sent to the Government and the National Assembly, the Ministry of Industry and Trade (MoIT) said extreme weather conditions have left many hydropower plants without enough water to produce electricity. The MoIT plans to import 20 million tonnes of coal in 2020 and 35 million tonnes in 2035. It also added the local supply of gas was not enough to generate electricity for projects in the southeast and the southwest of the country. There are more than 10 projects in the area accounting for 16 percent of total capacity in Viet Nam. MoIT said demand for liquefied natural gas (LNG) will continue to be strong, outpacing domestic production by 2020 requiring the country to import around one million cubic metres a year. Phung Van Sy, general manager of the ministry’s oil and gas division, said … [Read more...] about VIETNAM BUSINESS NEWS HEADLINES NOVEMBER 20

Mark Reeves, division director of BRG Group, on behalf of Nguyen Thi Nga receives the awards at the Asia-Pacific Golf Summit 2019 At the 13th Asia-Pacific Golf Summit (APGS 2019) held in Gurugram, India on November 6, Nguyen Thi Nga, Chairwoman of BRG Group, was once again named one of Asia's most powerful people in golf, in recognition of her great contributions to the development of the sport in Vietnam, as well as reaffirming her vision and influence in the industry. At the event, Nga received the Asia-Pacific spirit of enterprise gold standard award. This is the award category for the best entrepreneur in the field of golf in the region. The award was conferred to Nga to recognise her courage, perseverance, and pioneering efforts on the journey to develop Vietnamese golf over recent years. According to Asian Golf Magazine, the organiser of APGS, the award was conferred to Nga to recognise her courage, perseverance, and pioneering efforts on the journey to develop … [Read more...] about BRG Group chairwoman wins major prizes at Asian Golf Awards 2019

Canon's new instant cameras will help immortalise moments of happiness – and come in a hip modern style to boot Recently, the Vietnamese camera market suddenly witnessed the impressive return of an old trend that doesn't seem to have lost its shine – the instant camera. This movement has attracted a lot of young people who love photography and want to find a new hobby besides the already familiar product lines. Matching this trend, the famous camera company Canon has officially launched two completely new camera models, called iNSPiC [C] and iNSPiC [P]. The iNSPiC [S] ZV-123A model is available in pearl white, matte black, and rose gold. This classy instant camera printer comes thinner than most compact digital cameras and is a perfect fit for small hands, slipping easily into clutch bags or pockets for a day of fun out in the sun, or a relaxing evening with friends. The ultra-slim profile packs in a powerful 8MP fixed focus camera, so users can shoot and print … [Read more...] about New Canon instant camera can shoot and print while on the move