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Minister of Finance Ho Duc Phoc The Ministry made the statement at the 14th session of the National Assembly (NA) Standing Committee on August 10. Referring to gambling crimes, online gambling and betting organizations have been complicated and unpredictable, deputy Pham Van Hoa from the Mekong Delta Province of Dong Thap wondered why the police force has handled many cases, but this situation has not improved. According to deputy Pham Van Hoa, it is time to allow the implementation of Decree 06/2017/ND-CP on the business of betting on horse racing, greyhound racing, and international football for stricter management as localities can collect tax from such businesses and limit online betting. This Decree has been studied for many years before it was promulgated and took effect in 2017 but has not been implemented so far. He asked why Vietnam has piloted allowing casinos to operate, but not allowed betting. Minister of Public Security To Lam said that the view of the Ministry … [Read more...] about No issuance of permits to hold races because no projects completed yet

McKinsey and Company on August 3 released the report “Can Vietnamese banks seize the green bond opportunity?”, which analyses the preconditions leading to the growth of green-bond markets and urges Vietnamese banks to take timely action to reap the rewards from this segment. New solutions in green finance are crucial because the climate transition is accelerating, Photo: Shutterstock The report indicates that the demand for financing of projects with environmental benefits in Vietnam has grown year by year, totalling more than $10 billion annually from 2018 to 2020 and $21 billion in 2021. This increase is forecasted to continue, based on market momentum, Vietnam’s latest draft of Power Development Plan VIII, and the country’s net-zero commitments. Finance-wise, McKinsey estimates that issuing bonds for environmental, social, and governance (ESG) projects may bring Vietnam’s financial institutions roughly $1.7 billion in revenue by 2025, with $1.5 billion coming from … [Read more...] about New finance instruments in play for climate future

Localisation favoured by overseas banks, Photo Shinhan Bank Vietnam Shinhan Bank last week expanded its footprint in Vietnam by opening three new branches in the country’s two most populous cities, solidifying its position as the largest foreign lender currently active in the Southeast Asian nation. The bank said it has established a new branch in Hanoi, in addition to two branches in Ho Chi Minh City. This brings the total number of the bank’s offices in Vietnam to 46. “The new branches help us to maintain the largest sales network in Vietnam among all foreign banks operating there,” the bank said. “We expect that such a network will build a friendlier brand image across Vietnam, and in that regard, we will strive to offer better services.” In May, Shinhan Financial Group announced an agreement, worth roughly $90 million, to acquire a 10 per cent stake in Vietnam’s e-commerce platform Tiki. Its two units, Shinhan Bank and Shinhan Card, purchased 7.44 and 2.56 per cent … [Read more...] about Localisation favoured by overseas banks

With the theme A World Beyond Cash – Accelerating, Innovating, Connecting you to Priceless Possibilities , the forum has helped sketch the big picture of the current payment landscape, drawing the ways how Mastercard and its key partners join hands to increase the capability of payment and better serve the population in Vietnam. Vietnam is now among the fastest-growing economies in Asia-Pacific, experiencing the fourth payment revolution and showing great growth potential, thanks to a young population with a digital mindset. Despite the negative impacts brought by the pandemic, the Asian Development Bank forecasts that the country’s GDP will reach 6.5 per cent in 2022, increasing 2.5 times from 2021’s figure and reflecting the most impressive economic recovery across Southeast Asia. In 2021, apart from maintaining a positive GDP figure, Vietnam recorded a 13 per cent increase in credit growth and a 9 per cent increase in foreign investments, alongside the $21 billion valued … [Read more...] about Mastercard celebrated its Customer Forum 2022 for Vietnamese partners

At the event (Photo: VNA) Vientiane (VNA) - The sixth court conference of Lao, Vietnamese , Cambodian border provinces opened in Vientiane on August 10. In his opening speech, Lao Deputy Prime Minister Kikeo Khaykhamphithoune said the event not only enabled participants to share lessons in fighting trans-national crimes and judicial assistance but also helped Laos carry out two national agendas on dealing with economic-financial difficulties and drug issues. Lao Deputy Prime Minister Kikeo Khaykhamphithoune speaks at the event (Photo: VNA) Chief Justice of the Vietnam Supreme People’s Court Nguyen Hoa Binh urged judicial agencies of the three countries to further strengthen cooperation as the fight against crimes and the settlement of civil disputes across the border remain complicated. He expressed his belief that via the event, participating courts will seek effective ways to further boost their collaboration in 2022 and the following years. During the … [Read more...] about Laos, Vietnam, Cambodia convene sixth court conference

A buyer makes her payments by scanning QR codes. — Photo courtesy of NAPAS The National Payment Corporation of Viet Nam (NAPAS) has expanded its NAPAS247 Quick Transfer via VietQR Code network to include five new banks. The five banks comprise Saigon Hanoi Commercial JS Bank, Cooperative Bank of Viet Nam, Kasikornbank's HCM City Branch, Woori Bank, and CIMB Bank. With the inclusion of the banks, NAPAS's network has increased its membership to 40, accounting for 99.29 per cent of the NAPAS247 market share. The network allows clients of the 40 banks to make money transfers by using mobile banking apps to scan QR codes. The clients can also create their own codes to receive payments by the same means. The network has over 3 million users so far with their transfers growing by 70 per cent per month in the first six months of 2022. "NAPAS247 Quick Transfer via VietQR Code brings great benefits to both sellers and buyers as it simplifies and expedites payments, and at the same … [Read more...] about NAPAS expands transfer-via-QR-code network

Private schools bump into difficulties recruiting, retaining good teachers Every school, whether public or private, strives to recruit a pool of qualified and committed teaching staff that can deliver quality education to its students and in turn produce students of high quality. Therefore, it is crucial for schools to employ and retain talented teaching staff. According to a staff of K.G Kindergarten in Go Vap District, a holder of an intermediate degree in preschool pedagogy can become a teacher while their salary and benefits will be discussed after an assessment of their work efficiency meanwhile the school's recruitment notice clearly stated that candidates must have a university or college degree with long-term work experience in a preschool. Similarly, at V.M. Kindergarten in Binh Chanh District, the recruitment notice requires candidates to have a college or university degree majoring in preschool, but still accepts an intermediate degree in case the candidate is … [Read more...] about Private schools bump into difficulties in recruiting, retaining good teachers

Vietnam's traditional water puppetry. (Photo: VNA) Hanoi (VNA) - Four Vietnamese artists will head to the Republic of Korea (RoK) for water puppetry shows in four cities to mark the 30th anniversary of diplomatic relations between Vietnam and the RoK. The group will stage a total of 20 shows, with each lasting for 50 minutes across the cities of Seoul, Gyungju, Yungduk, and Chuncheon from August 10 to September 6, reported Radio The Voice of Vietnam (VOV). They will use the platform to introduce classic water puppetry plays to Korean audiences, such as fishing, buffalo fighting, dragon, and phoenix dances. They will also spend time holding exchanges alongside local audiences to discuss the traditional Vietnamese art form. Vietnamese artist Phan Thanh Liem, one of the four puppeteers, shared that he felt delighted at receiving an invitation to perform in the RoK, especially after two years of disruption caused by the COVID-19 pandemic. This will mark the fifth time that … [Read more...] about Vietnam water puppetry introduced in RoK

Bridgestone Tire Sales Vietnam LLC (Bridgestone Vietnam) inaugurated the new bridge on Aug. 5. The company representative said the project realizes its commitment of contributing to a society in which access and dignity are guaranteed to everyone, which was announced in "Bridgestone E8 Commitment" in March 2022. Naoki Inutsuka, General Director of Bridgestone Vietnam (L), performs the ritual of crossing the new Ong Lao bridge with co-sponsors, representatives of local authorities and a large number of students and people in Tan Hoa Thanh commune, Tien Giang Province. Photo by Bridgestone Vietnam Ong Lao Bridge is a part of Bridgestone Vietnam's project "Bridge to Knowledge" starting in 2019. The project is implemented with the desire to provide a safe and joyful way to school for disadvantaged children, and equal access to knowledge for all future generations. This August, the journey arrived in Tien Giang. On Aug. 5, thousands of students and people in Tan Hoa Thanh … [Read more...] about Bridgestone Vietnam provides bridge to Tien Giang students