Moodys best rating for a municipal note

Profits come from service diversification Looking at the profit results of the four State-owned commercial banks (Big 4), Vietcombank had a pre-tax profit of nearly VND23.1 trillion (approximately US$1 billion) - the highest level in the banking system, helping the lender to be in the list of 200 groups with the highest profit in the world. Vietcombank's credit growth in 2020 was higher than the general growth rate of the banking system, at 14 percent. This is also the highest credit growth ever of this lender and the highest in the banking industry. The pre-tax profit of Vietinbank also reached VND16.45 trillion, up 43.5 percent over the previous year due to good credit growth. The recent report of Agribank shows that not only did the business results continue to improve, Agribank's administrative costs in 2020 were also being cut by 10 percent, helping the bank's pre-tax profit to touch nearly VND12.87 trillion, VND369 billion, or approximately 3 percent, higher than the plan. It … [Read more...] about Banks continue to lower interest rates further to support economic growth

“It is expected to grow again around 7 percent this year because Vietnam signed recently several free trade agreements such as the European Union -Vietnam Free Trade Agreement (EVFTA), the Regional Comprehensive Economic Partnership (RCEP) agreement and the newly-concluded United Kingdom-Vietnam Free Trade Agreement (UKVFTA),” he told the Vietnam News Agency (VNA)’s reporter in Jakarta. … [Read more...] about VIETNAM NEWS JANUARY 21

“While applications of 4IR technologies will help the country move up the value chain in products and services, Vietnam should consider new approaches to ensure inclusion and social protection for entry-level workers, especially those at risk of job displacement, and those who need upskilling,” said Andrew Jeffries, country director for Vietnam of ADB. “Adequate and timely investments in skills development can help the country not only to harness the potential of 4IR to increase productivity but also ensure that 4IR will benefit workers at large.” … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 21

In addition, the municipal authority would alo proactively call for investment in industrial infrastructure system and from high-tech enterprises. The city would also speed up the construction of 43 industrial clusters which were approved in 2018-20. … [Read more...] about Hà Nội to focus on promoting trade, industry

Hanoi (VNS/VNA) - Public investment will focus on key national projects with important roles in enhancing regional links and creating new drivers and room for economic growth, Minister of Planning and Investment Nguyen Chi Dung has said. Last year saw the highest public investment disbursement rate in 2016-2020 as the Government identified public investment as a major driver for growth in the context of the COVID-19 pandemic. The Ministry of Planning and Investment estimated the public investment disbursement rate would reach more than 90 percent of the plan as of the end January 31 (the deadline for disbursement of 2020 public investment), compared to 73.3 percent of 2017, 66.8 percent of 2018 and 67.46 percent of 2019. There were 17 ministries, central-level agencies and 17 localities with disbursement rates of more than 80 percent as of December 31, 2020. However, 13 ministries and central-level agencies and five localities had disbursement rates below 60 percent. … [Read more...] about Public investment will focus on key projects: Minister