Needs sustainable development

Deputy Minister of Foreign Affairs Ha Kim Ngoc (Photo: VNA) Hanoi (VNA) - After a year implementing the strategy on cultural diplomacy to 2030, issued by the Prime Minister in November 2021, Vietnam has achieved marked results in the field, helping promote its relations with other countries across all channels of the Party, Government, National Assembly, and people, affirmed Deputy Minister of Foreign Affairs Ha Kim Ngoc. In an interview granted to the Vietnam News Agency, the official noted that Vietnam has focused on including the cultural content into the activities of high-ranking leaders during their overseas trips and the country’s reception of foreign leaders; and on promoting deep and wide integration in the fields of culture, science and education at international forums. According to him, Vietnam hosted significant regional and international conferences and events last year, including the 31st SEA Games and the Vietnam day programme in the Republic of Korea, … [Read more...] about Cultural diplomacy raises Vietnam’s position worldwide

Vietnam remains an attractive destination for foreign investors (Photo: VNA) Hanoi (VNA) - According to the Foreign Investment Agency under the Ministry of Planning and Investment (MPI), Vietnam is likely to attract 36-38 billion USD in foreign direct investment (FDI) in 2023. The figure was nearly 22.4 billion USD in 2022. Deputy Director of the FIA Do Van Su said disbursement of foreign investment this year is expected to hit 22-23 billion USD,. Su acknowledged that the opening of China’s economy might affect Vietnam's foreign investment attraction, adding that China remained the leading investment destination in the region, so when they opened up, capital will flow into this market while that to Vietnam and other economies in the region will be limited. On the contrary, the investment capital movement of the Republic of Korea (RoK) , Japan, and Taiwan (China) will be accelerated. This shift will be accelerated until 2025, and Vietnam will be a preferred investment … [Read more...] about Vietnam’s FDI projected to reap up to 38 bln USD in 2023

Vietnam’s four biggest State-owned banks have an urgent need for capital increase in 2023 as their charter capital is too low, with some unable to ensure the regulated minimum capital adequacy ratio (CAR), according to industry insiders. A customer at a Vietcombank office in Hanoi. Though the four biggest State-owned banks, including Vietcombank, have been a key force in supporting the economy to overcome difficulties, their charter capital is too low. Photo thoibaonganhang.vn Currently, the big four, including BIDV, Vietcombank, Agribank and VietinBank, only hold more than 40 per cent of the credit market share of the country’s banking system, but over the years, especially in the past three years, the banks have been a key force in supporting the economy to overcome the difficulties caused by the COVID-19 pandemic and global economic uncertainties. State-owned banks always take the lead in implementing incentive policies of the National Assembly, the … [Read more...] about State-owned banks under capital increase pressure