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At the forum, held also thanks to the Swiss State Secretariat for Economic Affairs and the Australian Department of Foreign Affairs and Trade, speakers emphasised the substantial challenges faced by the climate finance sector in Vietnam in aligning significant investment opportunities with environmental objectives. This sentiment was shared by Allen Forlemu, the IFC's regional industry director for Financial Institutions Group, Asia-Pacific, when he said, “It is evident that climate change is an increasingly disruptive factor for Vietnam's economy, and the costs are already starting to undermine growth. In 2020, Vietnam lost $10 billion, or 3.2 per cent of its GDP, to climate change impacts.” “If nothing is done, costs will only rise. In a business-as-usual scenario with limited global mitigation efforts, climate change could cost Vietnam up to 14.5 per cent of GDP annually in roughly 30 years, with the potential to push a million people into extreme poverty in less than a decade,” … [Read more...] about Forum discusses impact of climate change

Old artifacts are not only valuable, but also a keepsake for many families. Many people would be extremely sad if an artifact was damaged for some reason. In such cases, they may eventually find their way to an expert like Nguyen Khac Duy. Ten years ago, the man, now 34, who lives in Sa Dec City in the Mekong Delta province of Dong Thap, returned to his hometown after completing his military service and assisted his family business in trading artifacts. Noticing that the supply of artifacts was dwindling over time, Duy thought of finding solutions to repair damaged items, which would allow his family to sustain their business for a long time to come. Giving old things a second life In the early days of trying to repair damaged artifacts, Duy's lack of confidence meant he only fixed his own artifacts for fear of further harming customers’ precious items. However, after some time, as the artifacts he repaired became more common, more and more collectors came to ask him to … [Read more...] about In Vietnam, man gives artifacts a second life

The agreement to implement Temenos' Corebanking T24 system was formalised in Hanoi on September 22. The system’s deployment is anticipated to streamline LPBank’s operational processes and reduce both time and costs associated with implementation, thereby promoting enhanced revenues and service quality while catering to the diverse needs of the bank’s clientele. This pivotal move forms a cornerstone of LPBank’s extensive digital transformation strategy, aligning with its ambition to progressively establish itself as a premier retail bank that is accessible to all. Temenos’ Corebanking T24 is operational in over 3,000 banks worldwide and favoured by major Vietnamese banks such as MB, Sacombank, and VPBank. The deployment of this system paves the way for LPBank to escalate its growth trajectory and materialise its vision, enriching customer experiences and interactions across the board by leveraging advanced technology. Post-deployment, the T24 system is poised to augment … [Read more...] about LPBank partners with Temenos to drive next-gen banking solutions

Many young people around Việt Nam have created start-ups by harnessing local natural resources. — Photo nld.com.vn More and more start-ups by young people in rural areas are capitalising on the rich and diverse local resources. Đặng Dương Minh Hoàng, director of the Bình Phước Province Digital Agricultural Service Cooperative, said they are developing rapidly thanks to a trend of people leaving cities for the countryside and improving traffic connectivity and technologies. "Many young people leave the city with some capital, land from their families and connections to start a business. “This generation will create a change in the countryside because they create new products from these indigenous resources and have an understanding of market demand in the cities.” Provinces have many training programmes to promote rural start-up eco-systems, start-up communities are being created and they shared experiences to develop together, he said. Trần Đăng Đạt, co-founder of Đạt … [Read more...] about Việt Nam’s abundant indigenous resources help foster start-ups

The Japanese tourists recently told Asia One that they had been overcharged after trying a chili-style Alaskan King Crab at Seafood Paradise in Clarke Quay last month. After finishing their meal, they were shocked to receive the bill that charged them a total of S$1,322 (US$967), including a 10% service charge. The 3.5-kg crab dish they ordered cost S$938 (US$686). One of the Japanese tourists claimed they were not told they would be charged based on the weight of the crab, according to Asia One . The waiter initially told her the Alaskan King Cab specialty dish was about S$30 "without explaining that they charge per 100 grams." After arguing with the restaurant, the tourists called the police who arrived to settle the dispute before the restaurant offered them a S$107.40 discount, Channel News Asia reported. The group eventually paid for the meal. The Japanese tourists then reported the incident to the Singapore Tourism Board, which in turn brought the matter to … [Read more...] about Singapore restaurant denies that it cheated Japanese tourists

Diversifying sales and marketing channels has helped mooncake producers sell out products before the Mid-Autumn Festival arrives next weekend. — Photo courtesy of KIDO Group Diversifying sales and marketing channels has helped mooncake producers sell out products before the Mid-Autumn Festival arrives on Friday. In the past, when e-commerce and social media were not strongly developed, mooncakes were sold through traditional channels such as supermarkets and local traditional markets. People could also buy them at booths companies set up on roads. With the strong development of e-commerce platforms and social media, these have become the main channels helping mooncake makers reach their sales targets, often resulting in selling out products even before the Mid-Autumn Festival begins. Instead of visiting mobile booths selling mooncakes in person, customers can now conveniently browse and purchase them online using their phones. A plethora of advertisements and reviews about … [Read more...] about Mooncakes sell out as companies use multiple sales channels

Dung Dang, Visa's country manager for Vietnam and Laos said, “For more than a decade, the Global Travel Intentions Study has equipped Visa and its partners with unparalleled insights into the travel and payment landscape. This invaluable knowledge allows operators in the industry to plan and execute effective strategies to satisfy consumer demands and grow their businesses, all while reinforcing Visa’s commitment to creating a cashless society.” Emerging trends powering the travel boom The GTI 2023 revealed an ongoing trend in the Vietnamese travel industry, with the rise of Gen Z and families with children as significant contributors to the growth. In terms of leisure trips, families travelling with kids and the older generation made the most trips over the past 12 months, with an average of 2.4. Gone are the days when travel was solely about ticking off landmarks from a checklist. Vietnamese travellers are now placing a strong emphasis on leisure-focused and … [Read more...] about A journey of discovery from Visa Global Travel Intentions Study 2023

Van Phuong, who lives in District 7, said he signed a contract with AISVN's chairwoman Nguyen Thi Ut Em in 2018 to lend the school VND5 billion (US$205,000). With such loans from their parents, the children would be allowed to study for free at the school in Nha Be District until they graduate from high school or move to another school. As stated in the contract, the loan is interest-free, and the school will pay it within 90 days after the students move to another school or finish their 12th grade. "My children moved in 2022 but the school has paid us nothing," Phuong said. He added that the school had promised to pay the debt twice, in January and May this year, but has defaulted until now. "When signing the contract, I simply thought that my two children could get access to an international education free of charge if I lent them the money, which is a long-term benefit. I did not expect the school to break its promise like this," he said. In the same situation, Thanh … [Read more...] about Parents accuse HCMC international school of dodging debts

Sound guideline, effective models In Nghe An’s land border area adjacent to the provinces of Xiangkhouang, Borikhamxay and Huaphanh of Laos, most of the population are ethnic minority people with close relationship. Thanks to the great policies of the Party, State, local authorities, and the joint efforts of functional forces, the border localities have seen positive developments. However, due to harsh natural conditions, poor infrastructure, and uneven educational levels, the living standards of ethnic minority people in the areas are still low compared to other localities in the province. In addition, the complicated situation of crime and illegal border exit and entry has posed many challenges for the provincial border guard force in implementing the task of protecting national sovereignty and security in border areas and ensuring public order. Learning about the situation, the Nghe An provincial Border Guard’s Party Committee and Chain-of-Command has issued guidelines and … [Read more...] about Border guards’ efforts to enhance locals’ living standards and protect border security

The renowned food-store has won the hearts of many Hanoian generations with its only kind of foodstuff for over 70 years. The Banh cuon , or steamed rice crepe, is not a luxury food but has become favorite of not only Vietnamese but also foreign visitors to Hanoi. The Banh cuon Ba Hoanh restaurant is always packed with diners at the weekend. Photo: Duy Khanh “I feel like I’ve just swallowed a piece of ‘silk’,” Marco Lipuma- a friend of our family from Germany exclaimed as soon as he tried his first bite of the Banh cuon . “It’s outstanding, cool and very...slippery,” he said. After his first taste in early this year, within the following months he’d tried it countless more times. “I don’t like food with rich protein, so this is a good choice and I think it’s also a perfect detox food after so many giant feasts,” he stated. Truong Kim Dung, a customer of Banh Cuon Ba Hoanh eatery said that she tried the dish some 30 years ago when she got … [Read more...] about [Quintessence of Hanoi’s cuisine] “Banh Cuon Ba Hoanh”: Gorgeous decades-long delicacy of Hanoi