As the first local currency SLBs in Vietnam, they aim to help issuers expand their businesses while creating jobs, boosting competitiveness, and supporting the country’s low-carbon growth model. IFC’s investment comprises two elements, with about $100 million to be issued by BIM Land – a tourism and property developer in Vietnam – and approximately $50 million to be issued by Thanh Xuan JSC. Both the issuers are subsidiaries of BIM Group, a multi-sector corporation in Vietnam. The proceeds will be used to develop the Thanh Xuan Valley project in Vinh Phuc province, including an eco-friendly and unique residential community alongside a hotel complex (under the InterContinental brand), as well as other relevant services and infrastructure. IFC’s funding will also help the developers implement water- and energy-saving solutions at two BIM Land hotels – InterContinental and Regent – on Phu Quoc island. An innovative financing tool to support global sustainable development, these … [Read more...] about Vietnam’s first local currency sustainability-linked bonds aim to boost economy
Phu quoc hotels vietnam
Cultural space of Vietnam’s 54 ethnic groups presented on “digital museum”
Photos of more than 60 colourful traditional costumes of various ethnic groups across Vietnam are being displayed on Google Art and Culture platform. (Google screenshot) Hanoi (VNA) - A collection of hundreds of high-quality photos depicting the culture and life of 54 ethnic minority groups across Vietnam is being on display for the first time on the global digital platform , Google Arts & Culture. The exhibition, titled "Precious Heritage Art Gallery Museum" by French photographer Réhahn Croquevielle, includes vibrant photos showcasing over 60 colourful traditional costumes from various ethnic groups such as Dao, Bo Y, O Du, Phu La, La Hu, Pu Peo, Pa Then, and Si La. It also features interesting stories and unique artefacts that the author collected during his journey throughout Vietnam, discovering the beauty of the country and its people. Information on each photo is provided in Vietnamese, English, and French. Images of 54 ethnic groups living in the … [Read more...] about Cultural space of Vietnam’s 54 ethnic groups presented on “digital museum”
In Vietnam, parents spend big on children’s education despite economic woes
No matter how expensive it is, many Vietnamese families willingly pay for their children’s education in spite of their tight money situation. Vietnamese parents commonly seek the best education for their children while sacrificing their own needs, said Dr. Le Thi Mai Lien, head of the psychology faculty at the Ho Chi Minh City University of Social Sciences and Humanities. Cutting down on all expenditures but for children’s education As soon as her two children enter the new school year earlier this month, a 43-year-old woman named N.T.T., who resides in Phu Nhuan District, Ho Chi Minh City, had to calculate her family’s expenditure to balance their spending and saving. After the COVID-19 pandemic, T. and her husband's total income decreased by more than VND20 million (approximately US$818) per month, so they have to tighten their belt to stabilize the investment in their children’s education. Years ago when their family was still financially solvent, they would frequently … [Read more...] about In Vietnam, parents spend big on children’s education despite economic woes
PM active in China before attending CAEXPO, CABIS
Prime Minister Pham Minh Chinh and his entourage arrived at Nanning airport on September 16 morning, starting his participation in the 20th China-ASEAN Expo and China-ASEAN Business and Investment Summit at the invitation of the Chinese Government. With his participation in the event, Vietnam sends out its clear and consistent message on the foreign policy of attaching importance to the relations with China, thus making bilateral relations develop in a healthy, stable, substantial and effective way in the time to come. Later on September 16, Prime Minister Pham Minh Chinh held talks with Chinese Premier Li Qiang. Both sides expressed their delight at and spoke highly of the progress in Vietnam-China relationship in recent years, especially since the historical China visit by Party General Secretary Nguyen Phu Trong in November last year. Underscoring the importance of the Vietnam-China relations in the overall foreign policy of each country, Prime Minister Chinh affirmed that … [Read more...] about PM active in China before attending CAEXPO, CABIS
Working with American business partners requires understanding their way of thinking
In January 2000, we established our first branch in San Jose, California, the heart of Silicon Valley. The director of that branch was a patriotic diasporic Vietnamese. But the American Dream did not come true for us. After merely one year of operations, FPT USA had to temporarily stop operating due to a lack of customers. We tried everything, with different people attempting to take the reigns of business development. From a Vietnamese expat to a graduate from prestigious MBA programs. What we received were critics, portraying our managers as "delusional about our corporate capability" and our programmers "weak in both expertise and language skills." It was a total failure. No one cared about a nameless company from Vietnam, a country only known then for the prolonged war. One of our then-potential customers was surprised to learn that it only took one hour to fly from Hanoi to Bangkok. He could not imagine the locations were so close, despite his own flying to Bangkok quite … [Read more...] about Working with American business partners requires understanding their way of thinking
VietnamWood to help revive woodworking industry
The trade fair is taking place at the Saigon Exhibition and Convention Centre (SECC), from September 20 to 23, and will feature exhibitors from various supply chain sectors offering a wide array of top-quality products, services, and solutions. According to Phung Quoc Man, deputy chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), "Vietnam's wood exports have shown signs of recovery since the beginning of the third quarter this year. The turnover of wood exports reached over $1.1 billion in August after a long period of decline." "So, VietnamWood 2023 is taking place just at the right time, the wood industry is showing signs of recovery and preparing to enter a new cycle after a long, challenging period. We expect to host 320 exhibitors from 28 regions and countries as they present the latest woodworking product lines and engage in various curated events and activities," Man added. Vietnam is the world's fifth-largest exporter of wood and timber … [Read more...] about VietnamWood to help revive woodworking industry
Party chief receives outgoing Lao ambassador
Party General Secretary Nguyen Phu Trong (R) receives outgoing Lao Ambassador to Vietnam Sengphet Houngboungnuang. (Photo: VNA) Hanoi (VNA) - Party General Secretary Nguyen Phu Trong hosted a reception for outgoing Lao Ambassador to Vietnam Sengphet Houngboungnuang in Hanoi on September 20. The Vietnamese Party chief congratulated the ambassador on his excellent performance during the tenure in Vietnam, and appreciated the his contributions to implementing diplomatic activities of senior leaders, thus promoting the effective implementation of agreements between the two Parties and countries and deepening the Vietnam - Laos special solidarity . He suggested the Lao diplomat to continue to actively contribute to preserving valuable traditions and further stepping up the relationship between the Vietnamese and Lao Parties, States and people. Trong also congratulated Laos on its important achievements in recent times, affirming that Vietnam always supports Laos' reform … [Read more...] about Party chief receives outgoing Lao ambassador