Loans

In the past 19 years, policy credit has helped more than 6.1 million households escape poverty According to the State Bank of Vietnam (SBV), as of October 31, 2021, the bank (VBSP) system had lent out VND243.2 trillion($10.57 billion) in total outstanding balance, committed to nearly 6.4 million customers. Policy credit sources have helped needy households and other policy beneficiaries to create livelihoods, meeting their essential needs daily. Of the total outstanding balance, VND176.94 trillion ($7.7 billion), equal to 72.8 per cent of the total, was disbursed to credit programmes supporting production and business activities with view to creating more jobs such as lending programmes to needy households, the labourers going to work abroad under labour contracts, production and trading households in difficult areas, those coming from ethnic minorities’ groups, and small- and medium-sized enterprises (SMEs), among others. This capital volume was committed to more than 4.4 …

[Read more...] about Policy credit drives growth across Vietnam

As a near-poor household, when COVID-19 broke out, the life of Nguyen Van Tue from Cam Son commune in Anh Son district, Nghe An province, became even more difficult. He and his wife, who were self-employed, now don’t have a job. Fortunately, he received support from the Vietnam Bank for Social Policies, Nghe An Branch, with a loan of 90 million VND. He used the funds to buy four buffaloes and developed a farming model to create a long-term livelihood. The COVID-19 pandemic has resulted in thousands of jobless workers returning to their hometowns. Nghe An saw the return of nearly 100,000 workers, most of whom are members of poor or near-poor households. From May to September 2021, the Vietnam Bank for Social Policies, Nghe An Branch, disbursed nearly 800 billion VND to more than 19,000 poor households and other beneficiaries. According to the plan, from now to the end of the year, the Vietnan Bank for Social Policies, Nghe An Branch, will disburse a further 150 billion VND to …

[Read more...] about Son La striving to help returnees from pandemic-hit areas

Representatives of VPbank and Hưng Vượng Group signed a strategic cooperation agreement. — Photo courtesy of VPBank HÀ NỘI — VPBank and Hưng Vượng Group on Friday signed a strategic cooperation agreement to meet the capital demand of individual customers buying or investing in real estate in projects distributed by the property developer. VPBank will provide financial support packages for customers of Hưng Vượng Group who need to borrow, buy and invest in real estate with very competitive interest rates and credit conditions. This means that in the first two years, customers will not have to pay the principal to the bank, but only the interest. Customers will be able to borrow up to 80 per cent of the total value of the collateral with the disbursement limit up to VNĐ20 billion in 25 years. In particular, to help customers access favourable loans, VPBank accepts many different sources of income for customers to prove their solvency such as salary, income from individual …

[Read more...] about VPBank and Hưng Vượng Group enter cooperation agreement

Vietnam Design Week to nurture creativity from traditional culture With the theme "Awakening Tradition", from November 27 to December 3, Vietnam Design Week 2021 will take place at the Van Mieu-Quoc Tu Giam (Temple of Literature Complex) relic site located in Dong Da district, Hanoi. Tea pressed into cakes, printed with "Khue Van Cac" (Literature Pavilion) image, a souvenir product designed on the basis of traditional culture dedicated to the Van Mieu-Quoc Tu Giam relic site. This event is organised by the Vietnam National Institute of Culture and Arts Studies under the Ministry of Culture, Sports and Tourism and partners. Design is an activity that involves many areas of life. Currently, serveral countries in the world have been considered as "creative design countries", when design elements are promoted to apply within their economic and social development. Therefore, Vietnam Design Week aims to encourage a change in design thinking, considering traditional values as an …

[Read more...] about VIETNAM NEWS HEADLINES NOVEMBER 28

Children need to be protected from child labour more than ever due to the devastating impacts of the COVID-19 crisis, experts said during a virtual interactive panel discussion held in Hanoi last week. Children sell souvenirs in Sapa Town, the northern mountainous province of Lao Cai. — Photo baolaocai.vn The event adds a voice to the global call for action on World Day against Child Labour, which falls on June 12. Dang Hoa Nam, director of the Department of Children’s Affairs under the Ministry of Labour, Invalids and Social Affairs said that Vietnam’s first national survey of child labour in 2012 showed that there were about 1.75 million child labourers nationwide, making up 9.6 per cent of children aged between five and 17. Child labour has significantly declined in the country as the second national child labour survey in 2018 found about 1 million labourers or 5.4 per cent of the country’s children aged between five and 17, he said. The rate of child labour …

[Read more...] about COVID-19 crisis could result in an increase in child labour

President Nguyen Xuan Phuc meets embassy's staff in Russia President Nguyen Xuan Phuc met the staff of the Vietnamese Embassy and representative agencies in Moscow, Russia, on November 30. The President said that he had just had very successful talks with Russian President Vladimir Putin. The two leaders discussed 20 issues related to cooperation between the two countries, upon which they reached high consensus, he said, adding that the Russian President supported many issues raised by Vietnam. The two leaders agreed to issue a joint vision statement on the Vietnam-Russia comprehensive strategic partnership until 2030. While appreciating the preparations for the visit made by the Ministry of Foreign Affairs and relevant agencies, and especially the staff of the Vietnamese Embassy in Russia, the President asked the agencies to perform well the tasks assigned by the Party and the State as well as to nurture the good relationship between the two countries. He also underlined …

[Read more...] about VIETNAM NEWS HEADLINES DECEMBER 1