At the meeting between Prime Minister Pham Minh Chinh and his Italian counterpart Giorgia Meloni in Brussels on December 14, 2022 on the occasion of the ASEAN-EU Commemoration Summit (Photo: VNA) Rome (VNA) – Despite ups and downs in the world situation over the past 50 years, the relationship between Vietnam and Italy has still developed positively and comprehensively with in-depth cooperation in all fields, both bilaterally and multilaterally, especially after they lifted their ties to a strategic partnership 10 years ago, according to Vietnamese Ambassador to Italy Duong Hai Hung. In an interview granted to the Vietnam News Agency on the occasion of the 50th anniversary of the Vietnam-Italy diplomatic relations, the diplomat said that Italy is an important partner and a loyal friend of Vietnam. In all meetings, leaders of Italy affirmed the country’s great attention and determination to promote the all-round bilateral relations, considering Vietnam as a priority for … [Read more...] about Ambassador highlights progresses of Vietnam-Italy relations over 50 years
Increased c reactive protein levels
Stock market violations to face stricter sanctions
The stock trading board inside the Ho Chi Minh Stock Exchange (HoSE). In order to promote the healthy development of Viet Nam's stock market, it is necessary to diversify products on offer. — Photo HoSE The State Securities Commission (SSC) will review the Law on Securities and related decrees to complete the legal framework, and strengthen sanctions for violations to protect the legitimate rights and interests of investors. “Although the current Law on Securities stipulates a high level of sanctions for violations compared to the common ground, the maximum administrative fine is VND3 billion for organisations and VND5 billion for individuals. However, recent violations in the market have shown that these fines have not been strict enough, requiring a higher level of sanctions and tighter regulations,” said Ta Thanh Binh, Director of Market Development Department under the State Securities Commission. At a seminar held late last week, Binh said the SSC will step up the … [Read more...] about Stock market violations to face stricter sanctions
Vietnam – Belgium traditional friendship receives renewed support
The two countries officially established diplomatic ties on March 22, 1973, just two months after the Paris Agreement on ending the war and restoring peace in Vietnam was signed. Vietnam will long remember the wholehearted assistance from the Belgian government and people for its post-war reconstruction and recovery efforts. Over the past five decades, bilateral partnerships have flourished in various spheres, particularly politics - diplomacy, trade, agriculture, education - training, science and technology, and development cooperation at the federal, regional, and community levels. Belgium always attaches importance to relations with Vietnam and has established itself as an international partner substantially contributing to the Southeast Asian country’s successes via development cooperation programs. The two sides have also actively coordinated with each other at multilateral forums, especially the United Nations, the Asia - Europe Meeting (ASEM) and ASEAN - E.U. frameworks. … [Read more...] about Vietnam – Belgium traditional friendship receives renewed support
Shares gain for second day but caution persists
An investor watches share prices on a tablet. Shares rose a second day on both exchanges. — VNA/VNS Photo Shares climbed for a second day as good performace of global stock markets prior to the Fed’s announcement of a rate hike supported local investors’ psychology. The VN-Index on the Ho Chi Minh Stock Exchange increased by 0.79 per cent to close Wednesday at 1,040.54 points. It rose nearly 1 per cent in the previous session. The market breadth was positive with 203 stocks gaining, 170 losing while the other 128 closed flat. Although the trading was cautious, increasing liquidity in buying force at high prices led to an improvement in stock prices, especially in the banking and real estate industries. Nearly 459 million shares worth VND8.7 trillion (US$369 million) were traded, down 3 per cent in volume but up 4 per cent in value compared to Tuesday’s level. Property and banking stocks led the market growth with average growth of 1.5 per cent each, tracked by … [Read more...] about Shares gain for second day but caution persists
Digital banks attract significant numbers of customers
The number of new customers of commercial banks has increased dramatically in recent years thanks to their digital applications. A customer uses VIB’s app. After only six months launching MyVIB 2.0 digital banking application, VIB has doubled the number of customers compared to the previous year. (Photo: thoibaonganhang.vn) After only six months of launching MyVIB 2.0 digital banking application – which uses multi-cloud computing technology to process 60-70% of the input data to help banks realise ideas, bring products and services to the market faster and respond sooner to customer requests, VIB has doubled the number of customers compared to the previous year and reach the target of 4 million customers nearly a year earlier than expected. Not only VIB, the wave of “cloudisation” of digital banking applications to expand modes and storage capacity, and increase integrated processing and user data security capacity has been invested in and implemented by many … [Read more...] about Digital banks attract significant numbers of customers
Next era of e-commerce: Digital transformation with sustainable development
Dang Anh Dung, deputy general director of the e-commerce platform Lazada Vietnam's e-commerce topped the region in terms of growth rate in 2022, according to the latest report from Google, Temasek, and Bain & Company. Vietnam's compound annual growth rate was 28 per cent, higher than Singapore (17 per cent) and Thailand (15 per cent). The scale of Vietnam's digital economy has now reached $23 billion and could hit nearly $50 billion in three years if the current growth rate is maintained, according to the report. With rapid growth and far-reaching impacts on people's lives, the e-commerce industry is transforming in pursuit of sustainable growth based on technology and rapid digital transformation. At the Forum Digital Transformation : Faster - Smarter - Greener, organised by VIR for the second year, Dang Anh Dung, deputy general director of Lazada Vietnam said that over the first ten years of the industry, players have been investing in infrastructure, services, and … [Read more...] about Next era of e-commerce: Digital transformation with sustainable development
Workshop highlights importance of impact-based disaster forecasting
Deputy head of the Vietnam Meteorological and Hydrological Administration (VNMHA) Hoang Duc Cuong said that the workshop, jointly held by the VNMHA and the Asian Disaster Preparedness Center (ADPC) in response to the World Meteorological Day (March 23), will provide international experiences on forecasting and warning based on practical impacts in the world and Vietnam, contributing to forming processes and measures to effectively forecast disaster impacts in Vietnam at present and in future. At the workshop, the ADPC guided participants on how to build an impact matrix of storms and floods. Participants also discussed the role of disaster forecasting and warning, and emphasized the importance of information on impact-based forecasting in easing damage caused by natural disasters. Senaka Basnayake, Director for the ADPC’s Climate Resilience Department, said that in order to increase urban resilience to climate extremes, it is necessary to understand current and future risks, build … [Read more...] about Workshop highlights importance of impact-based disaster forecasting
Youth must pioneer national digital transformation: N.A. Chairman
The Vietnamese Party and State always attach special importance to youth and the youth work, and place faith in the force and the Youth Union, Chairman Vuong Dinh Hue said at a meeting with the HCYU Central Committee’s Secretariat on the occasion of the 92nd anniversary of the HCYU. Speaking highly of the theme of “Digital Transformation” that the HCYU Central Committee has selected for the Youth Month 2023, he stressed that this is an important and urgent task that can make Vietnam integrate more deeply into the general development of the world. The N.A. Chairman highlighted the importance of continuing to innovate the content and mode of operation in the context of digital transformation; and carrying out tasks and solutions to promote the intelligence and strength of young people through three movements: "Volunteer Youth," "Creative Youth," and "Youth Pioneers to Defend the Fatherland." The HCYU should implement measures to accompany and take care of adolescents in all aspects … [Read more...] about Youth must pioneer national digital transformation: N.A. Chairman
Moody’s lowers Techcombank ratings
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