Ifc investment analyst program

Land law adjustments aim to protect entities as well as the real estate market, photo Le Toan In a seminar to collect opinions from enterprises and experts regarding amendments to the Law on Land held last week in Ho Chi Minh City, Seck Yee Chung, a representative of the Vietnam Business Forum’s Trade and Investment Working Group, said that Article 35.d of the draft law provided that domestic companies only have the right to mortgages with their land and properties attached to the land at credit institutions licensed to operate in Vietnam. “This means that companies in Vietnam cannot mortgage their factory or land through foreign lenders, which creates great challenges for them to access competitive financing resources outside the country,” Chung said at the seminar, which was organised by the International Finance Corporation (IFC) and Ministry of Natural Resources and Environment (MoNRE). “Foreign lenders will look for security assets of Vietnamese companies to secure their … [Read more...] about Land law points further scrutinised

A customer examining a vehicle insurance product at Bao Viet Insurance Group’s office. The potential growth of vehicle insurance is high car travel increase. — VNA/VNS Photo Experts have predicted that the health and vehicle insurance sectors will continue to serve as the primary growth drivers for non-life insurance in Viet Nam this year. Data from the Vietnam Insurance Association reveals that non-life insurance and health insurance comprised the largest proportion of the insurance industry's premium revenue last year, accounting for approximately 33.2 per cent, with revenue of VND22.41 trillion. This represented a 24.3 per cent increase from the same period in 2021. In the meantime, vehicle insurance generated a revenue of VND18.1 trillion, comprising 26.8 per cent of the overall market revenue and witnessing an 11.9 per cent growth rate over the same period in 2021. Health and vehicle insurance products are expected to continue to increase this year, especially when the … [Read more...] about Health and vehicles to be main growth drivers for non-life insurers in 2023

Illustrative image (Photo: Bao Viet) Hanoi (VNS/VNA) - Experts have predicted that the health and vehicle insurance sectors will continue to serve as the primary growth drivers for non-life insurance in Vietnam this year. Data from the Vietnam Insurance Association reveals that non-life insurance and health insurance comprised the largest proportion of the insurance industry's premium revenue last year, accounting for approximately 33.2%, with revenue of 22.41 trillion VND. This represented a 24.3% increase from the same period in 2021. In the meantime, vehicle insurance generated a revenue of 18.1 trillion VND, comprising 26.8% of the overall market revenue and witnessing an 11.9% growth rate over the same period in 2021. Health and vehicle insurance products are expected to continue to increase this year, especially when the awareness of people and economic organisations about the role of insurance continues to be improved. Regarding health insurance, the … [Read more...] about Health, vehicles main growth drivers for non-life insurers in 2023

Over the past 35 years of development, the Vietnam Bank for Agriculture and Rural Development, better known as Agribank, always proves its position and role as a leading commercial bank in Vietnam. It has pioneered monetary policies, contributing to stabilizing the macro-economy, curbing inflation and supporting the country’s economic growth. The bank has cemented its key role in developing the agriculture sector and rural areas and offering credit and services to serve the country’s socio-economic development. Agribank was proud to receive the Vietnam National Brand award for the third consecutive year in 2022 and was among the top 10 Vietnamese strong banking and financial brands the same year. The lender has obtained impressive achievements in digital and green transformation and made substantial contributions to community development. Despite the negative impact of the COVID-19 pandemic, Agribank, with its initiative and flexibility, has employed multiple … [Read more...] about Vietnam’s Agribank wins many local prestigious prizes

A group of solar power ventures that did not make the 2021 feed-in tariff deadline remain idle and developers want fresh solutions Nearly 40 renewable power investors last week asked the prime minister to consider addressing pricing-related inadequacies in renewables development. The joint letter said that the impact of the pandemic and expiry of the country’s previous feed-in tariffs (FiTs) has resulted in 84 renewable power projects, with total capacity of some 4,600MW, falling behind schedule and failing to achieve commercial operation. Among these, 28 wind farms and six solar farms with the combined capacity of more than 2,000MW, which have cost an estimated $3.6 billion are eligible to connect to the national power grid, are still waiting for a suitable pricing mechanism. Six solar power ventures have been waiting for such a mechanism for over two years. The developers last week expressed concerns that they may go bankrupt as the government’s latest pricing band fix are … [Read more...] about Pricing structure not enough to clinch nation’s energy goals

The following is the full text of the interview. Reporter: How do you evaluate the relations between Vietnam and Italy since the establishment of the bilateral diplomatic ties 50 years ago, especially since the upgrading of the relationship to a strategic partnership in January 2013? Ambassador Antonio Alessandro: I would use the words of the President of the Italian Republic Sergio Mattarella, who has just released a warm message of congratulations on the 50th anniversary of Italy - Vietnam diplomatic relations. President Mattarella congratulated the two countries for their relationship, “strongly rooted in history” and at the same time “directed with confidence towards the future.” These words express very well the idea that the 50th anniversary is not only a great achievement, considering the long journey that both countries have made since the seventies, but also a platform to let our friendship grow further and face together the great global challenges, like climate … [Read more...] about Italy – Vietnam relationship “strongly rooted in history”: Ambassador

The first wave of bullishness as China began abandoning its zero-Covid policy in December lifted airline stocks and online travel agencies like Trip.com Group Ltd. But with global airlines being slow to add capacity to connect China with the U.S. and Europe and Chinese travelers preferring trips closer to home, a new set of stocks is benefiting. Thailand has re-emerged as a favorite destination for Chinese travelers, and also for investors. "We were active earlier in terms of domestic travel, lodging space and airports, where we've done quite well," said Elaine Tse, portfolio manager at Allspring Global Investments. Tse said the firm has locked in some profits from those bets. "We are optimistic on a rebound in regional and international travel and continue to get exposure through airports and airplane leasing." Shares of airports, such as Airport of Bangkok and Shanghai International Airport have underperformed the big three Chinese airlines Air China, China Eastern and … [Read more...] about China travel rebound bets turn toward airports, away from airlines

At the meeting on March 21, the RoK N.A. speaker noted that the relations between Vietnam and the RoK have been developing strongly, highlighting the elevation of bilateral ties to a comprehensive strategic partnership in December 2022. He stressed that during his meetings with key leaders of the Vietnamese Party, Government and National Assembly during his visit to Vietnam last January, he noticed that both sides have been aware of the great potential of bilateral cooperation. Kim extended an invitation to N.A. Chairman Vuong Dinh Hue and legislators of Vietnam to attend a forum for ASEAN and Korean leaders, slated for June in the RoK’s Jeju Island. For his part, Hai affirmed that Vietnam attaches importance to the relations with the RoK and suggested the two sides maintain all-level delegation exchanges and meetings, saying coordination and sharing of views on the bilateral cooperation as well as the regional and international situation would help deepen relations between their … [Read more...] about N.A. Vice Chairman visits RoK, meets host leaders

Vietnamese Ambassador to Belgium Nguyen Van Thao, who is also head of Vietnam's Delegation to the E.U., made the statement at a workshop to review the relations between ASEAN and E.U. over the last four decades in Brussels on March 21. Speaking on behalf of ASEAN at the discussion on trade cooperation, Thao highlighted the great potential for the two sides to further step up trade cooperation, which he said is a driver of the ASEAN - E.U. relations. According to the diplomat, the two sides are now the third largest trade partners of each other. They have mutual complementarity in key export products, and at the same time have the needs and policies to diversify supply chains. The E.U. is also the second biggest foreign investor in ASEAN with more than 380 billion EUR invested in ASEAN as of 2021. He proposed that the two sides should set up a free trade agreement (FTA) on the basis of bilateral FTAs that the E.U. has signed with ASEAN member nations, including Vietnam. The … [Read more...] about Vietnam calls for stronger ASEAN – E.U. relations