Long underscore line

Vietcombank’s consumer credit balance alone climbed by 14.6 per cent at the end of June. Including existing bond investments, the bank’s loan growth is projected at about 14.4 per cent, well surpassing the central bank’s (SBV) temporary 10 per cent cap. Squeeze in allotted credit room for commercial banks, source: TNCK Likewise, MBBank’s parent bank’s individual increase in client loans was 14.25 per cent at the end of June, which is close to the 15 per cent credit ceiling set by the SBV. However, as MB is rumoured to be a potential acquirer of one of three struggling local institutions, the bank is likely to be awarded a greater credit limit thanks to any deal. Over the same time, customer loan growth at ACB surpassed 9.8 per cent, although the rise in total credit outstanding for the whole year was just 10 per cent. Vietcombank’s deputy general director Nguyen Thanh Tung said that the bank was temporarily given a credit growth limit of 10 per cent this year, but … [Read more...] about Squeeze in allotted credit room for commercial banks

BM PLASCO is the only group in the sector of building materials specialising in plastic pipes and plastic pipe fittings to be included in this year's list. This is a remarkable milestone for the company's 45-year effort, manifesting its relentless commitment to creating a better living environment for Vietnamese people through sustainable approaches. Top 50 Listed Firms is a prestigious award by Forbes Vietnam magazine, in which 50 companies listed on Ho Chi Minh Stock Exchange and Hanoi Stock Exchange have been selected based on a ranking methodology from Forbes US. The award assesses the firm’s performance over five years – from 2016 to 2021 – in the aspects of both financial achievement and sustainability. While facing many challenges such as the pandemic, rising material costs, and the global downturn, BM PLASCO has successfully stabilised its operations and developed steadily. In 2021, the company achieved revenue of $192.4 million and a profit of around $9.2 million. In … [Read more...] about Binh Minh Plastics honoured by Forbes Vietnam

A scene in the MV Joseph Kwon is known as a multi-talented artist. He works as a musician, composer, singer, and producer in Korea and the K-pop market. He is known as one of the music therapists of the Well Hospital Voice Center and SBS Choir Radio Conductor. Joseph Kwon said that his love for Vietnam is very natural. Since childhood, he has loved and always learned about Vietnam; subsequently, he takes every opportunity to come to Vietnam to live and work. His Vietnamese friends called him Joseph Quyen. Joseph Quyen has lived in Vietnam for more than three years and learned a lot about Vietnamese life and people. During the outbreaks of the Covid-19 epidemic in Vietnam, he spent a lot of time composing and performing songs praising the friendship between Vietnam and Korea, and songs about love for Vietnam and Vietnamese food. A scene in the MV Joseph Kwon said that MV Waiting for you, 5000 years - I'm still waiting for you 5000 years was made from May 17 to July 12, … [Read more...] about Korean singer travels to 19 provinces, cities in Vietnam to make music videos

PAN’s Managing Editor Senior Colonel Le Ngoc Long chaired the event. The event was also attended by PAN’s Managing Editor Senior Colonel Tran Anh Tuan, Second-in-Command of Unit 871 (under the General Department of Political Affairs) Senior Colonel Hoang Tuan Cuong, PAN’s representatives, and 59 trainees in military in Northern Vietnam. During the course, favorable conditions were created for all instructors and trainees to successfully perform all contents of the course. Instructors raised their responsibility to equip trainees with journalism knowledge, especially practical experience so that they can apply it to their task performance. Meanwhile, trainees observed all regulations of the course and the host unit, overcame all difficulties to acquire the knowledge and completed the course as required. Addressing the closing ceremony, Senior Colonel Le Ngoc Long noted that, via the course, trainees were provided with valuable knowledge on journalism. Many of them are … [Read more...] about PAN’s refresher course on journalism knowledge concluded

It was centered around 200 kilometers from Bach Long Vi Island in northern Hai Phong City as of 5 p.m. Wednesday, according to the National Center for Hydro-Meteorological Forecasting. In the next 12 hours, it would move west-northwest at 15-20 kph and will hit the seas of Quang Ninh, Hai Phong, Thai Binh and Nam Dinh Thursday morning before weakening into a tropical depression. According to the Japan Meteorological Agency, Mulan will move between China’s Leizhou Peninsula and Hainan Island at a speed of 65 kph before entering Quang Ninh and Hai Phong. The Hong Kong Observatory has traced the same path but estimated wind speed at 55 kph. In the next 24 hours, the above-mentioned localities are set to experience strong winds and waves. From Wednesday morning until Friday, the entire northern region and the two north-central provinces of Thanh Hoa and Nghe An will receive rainfall of 100-200 mm, and 250 mm in some places during the period, the meteorologists estimate. Quang … [Read more...] about Storm Mulan to hit northern coast Thursday morning

The Czech Republic last week joined Germany and Spain in denying new visas related to Vietnam’s new passport, with all three citing a lack of birthplace information. They said the new passport model does not meet the technical standards of International Civil Aviation Organization (ICAO) parameters. Outbound tours to Europe rocked by passport tangle, illustration photo “The Czech Republic agrees with other member states of the EU and will stop recognising the new passports. The decision is effective from this moment,” said a notice posted on the website of the Czech Embassy in Vietnam on August 2. The moves have damaged the plans of some travellers who had already booked tours with specialised travel agents. Nguyen Van Tai, director of Vietsense Travel, told VIR that the company has cancelled the tours of five customers who bought tickets to visit Eastern Europe in September. “The company has been heavily affected, losing hundreds of millions of VND (equivalent to … [Read more...] about Outbound tours to Europe rocked by passport tangle

The eighth edition of the biennial World Cities Summit returned to a fully in-person conference format at the Sands Expo and Convention Centre in Marina Bay Sands after a largely virtual summit last time out. At the event, numerous examples were outlined of global cities responding to urban challenges in terms of how to be more resilient, sustainable, and cohesive. The theme of this year’s summit, “Liveable and Sustainable Cities: Emerging Stronger”, was crafted to reflect the urgent and important imperative that economic growth can no longer be pursued at the expense of climate change and environmental degradation. Maimunah Mohd Sharif, executive director of the UN Human Settlements Programme said at the summit that the world has had enough policies, strategies, and innovations. “What we are lacking are actions and we need to act now. This is the time to support multilateralism,” Sharif said. “The pandemic woke us up to really look at the design and focus on housing, climate … [Read more...] about Building cities fit for human needs

The amended Law on Intellectual Property (IP) provides a more comprehensive legal framework for effective protection and enforcement for holders of IP rights. This is expected to create a strong dynamic for science and technology research, innovation and creation, and to encourage the commercial exploitation of such protected rights more effectively. Partner Nguyen Thi Hong Anh and junior associate Vu Hoang Ha Thu of Indochine Counsel It will also encourage foreign investment in high-tech industries that requires technology transfer as the rights of IP holders will have greater protection. As such, the amended IP law will encourage foreign investment and bring benefits for both manufacturing and retail sectors. In comparison with the Berne Convention, the WCT provides for two additional subjects susceptible of copyright protection, namely computer programmes (which are to be treated as literary and artistic works), and compilations of data which are selected or … [Read more...] about Conforming to treaty via Law on IP

According to the Vietnam Textile and Apparel Association (Vitas), greening the textile and apparel sector has become a global trend that local firms must follow to reach sustainable development targets and scale up export into key markets like the EU and United States. It would be particularly significant as new-generation free trade agreements with Vietnam’s engagement all feature the commitments for environmental protection and emission reduction, Vitas stated. This would require firms to invest in cutting-edge production technology which also entails mounting challenges. “Funding is a big issue, particularly as 90-95 per cent of units in the textile and apparel sector are of small and medium size,” said Truong Van Cam, Vitas’ deputy chairman. Currently, most firms in the textile and apparel supply chain performing export processing for global brands have been mandated to satisfy set requirements on environmental, social, and emission reduction standards, among … [Read more...] about Textile and apparel firms increasingly going green

More Vietnamese businesses understand the importance of digital transformation. What are your observations on the current digital landscape? Dwayne Ong, founder and CEO of Singaporean certification body CASUGOL It is heartening to see that more small- and medium-sized enterprises (SMEs) in Vietnam has started adopting digital solutions in their businesses and serve their customers. This covers digital payments, creating online presence, and using data to customise products/services to enhance customer experience. Recent research has also shown that the number of Vietnamese connected to the internet has also increased to nearly 85 per cent. However, the majority of the digital transformation initiatives are largely congregated in major cities like Hanoi, Danang, and Ho Chi Minh City. With over 90 per cent of businesses in Vietnam made up of SMEs and micro-businesses, there are still a lot of opportunities to improve digital adoption among them. The main challenge that … [Read more...] about The key challenges ahead for a digital economic boom