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Its currency deposit and issuer ratings were lowered from Ba2 to Ba3, the same level as several other banks in Vietnam. Its outlook is down from stable to negative. "The downgrade of Techcombank's ratings and assessments reflects Moody's expectations that the stress faced by Vietnam's real estate sector will negatively impact the bank's standalone credit strength, given its high exposure to the sector," the ratings agency said in a release. The downgrade is not related to recent U.S. bank failures and events at Credit Suisse Group AG, it claimed. As of the end of December loans to the property and construction sectors represented 29% of Techcombank's gross loans. The bank also had exposure to the sectors in the form of corporate bonds, which made up 6% of its total assets. Some of its exposure to the property sector were of significant size relative to its tangible common equity and could bring volatility to its profitability and capital should they become problem assets. … [Read more...] about Moody’s lowers Techcombank ratings

Accordingly, the command’s orators updated ship owners and fishermen in localities on information related to the Vietnam Coast Guard Law in 2018, Fisheries Law in 2017, and documents related to legal fishing at sea and IUU fishing. The event aimed to raise the awareness of troops, local people and fishermen in Gio Linh district of regulations on the prevention and combat of IUU fishing while helping fishermen grasp the scope of the Vietnamese waters and strictly comply with laws and regulations while fishing at sea, especially not infringing on foreign waters, contributing to the efforts to remove the yellow card imposed by the European Commission (E.C.) on Vietnamese seafood. Also, the program showed the sentiment and responsibility of coast guard troops toward needy fishermen and encouraged them to keep fishing at sea, contributing to firmly safeguarding national sovereignty over sea and islands. On the occasion, the Coast Guard Region 2 Command presented 50 gifts, worth VND 1 … [Read more...] about Coast Guard Region 2 popularizes information about IUU fishing in Quang Tri

Nguyen Hoai Nam, VASEP's deputy general secretary. — VNS Photo Although Viet Nam's seafood exports were estimated at 235,300 tonnes in the first two months of 2023, worth more than US$1 trillion, this represents a drop of 26 per cent over last year in volume and 32.9 per cent in value, according to data from the General Department of Viet Nam Customs. However, the export market is expected to rise in the second quarter of 2023, though the recovery will not be as fast as in the same period last year. Viet Nam News reporter To Nhu spoke to Nguyen Hoai Nam, deputy general secretary of the Viet Nam Association of Seafood Exporters and Producers (VASEP), to learn more about the expectation. What do you think about the prospect of Viet Nam's seafood export to the Chinese market? Vietnamese seafood producers are interested in the Chinese market because it is a large market and has grown continuously over the past five years. China’s imported fresh food products are worth around … [Read more...] about Seafood exports expected to recover in Q2

While in Argentina, the delegation had a meeting with Politburo member and Secretary in charge of External Relations of the Communist Party of Argentina (CPA) Jorge Kreyness. Hai thanked the CPA for its solidarity, support and sentiment for the Communist Party of Vietnam (CPV) and Vietnamese people in their past struggle for national liberation as well as the present cause of national reform and construction. The official affirmed the consistent stance of the Vietnamese Party, State and people on constantly consolidating and strengthening the friendship and solidarity between the CPV and the CPA and people of Argentina. Hai expressed his hope for enhanced solidarity and more efficient cooperation between the two parties for the common revolutionary cause. In reply, Kreyness lauded Vietnam’s achievements and experience, and noted his belief in the success of reforms and socialism building in Vietnam under the CPV’s leadership, calling Vietnam an example for Latin American … [Read more...] about Ho Chi Minh City seeks ways to expand cooperation with Argentina

The band was founded in 2018, and its name is quite long: Duca Community of Hoan Kiem Lake Walking Street, with the purpose of simply relaxing after working days. The crowd's cheers and applause and the sound of guitars and drums caught everyone's attention on the pedestrian street around Hoan Kiem Lake, a historical place famous for its peaceful beauty but now crowded. Kayla, one of the tourists from America who joined the audience, told The Hanoi Times : "It's different from the States. I am surprised that there is no lead singer, but the people around are singing loudly. I am lucky to be in Hanoi on the first day and already enjoy the vibes here". The atmosphere is lively and vibrant. Photos: Duca community of Hoan Kiem Lake Walking Street Kayla is one of many visitors who stumble upon the Duca Community of Hoan Kiem Lake Walking Street's Saturday night performance in Hanoi's pedestrian streets around Hoan Kiem Lake, which have a fascinating … [Read more...] about A band performs a unique style of music on Hanoi walking street

The charming capital of Vietnam has won the hearts of many foreign tourists for its rich culture, beautiful east-meets-west buildings, and wonderful street food. According to Thetravel.com , there are more places in Vietnam than its capital Hanoi that tourists should explore. A corner in Hanoi's Old Quarter Area. Photo: Huy Pham In a recently published travel article on Vietnam, the Canadian newspaper has suggested 10 most beautiful cities and towns throughout Vietnam that will satisfy any visitor's travel needs, from cultural exploration to natural beauty discovery to luxurious beach vacations. According to Bryan Reyes, staff writer for The Travel, it's no surprise that Hanoi, as the capital, is one of the most visited cities in Vietnam, along with Ho Chi Minh City and Ha Long Bay, a UNESCO World Heritage Site. "Dubbed the 'Paris of the East', Hanoi is a sightseer's paradise for its landmarks with French influences mixed with Vietnamese motifs. This … [Read more...] about Hanoi named among Vietnam’s most beautiful places