HCM City presents Tet offerings to Hung Kings A commemoration ceremony was held at the National Historical and Cultural Park in Ho Chi Minh City, on February 12 to offer the traditional Banh Tet to Hung Kings.A commemoration ceremony was held at the National Historical and Cultural Park in Ho Chi Minh City, on February 12 to offer the traditional Banh Tet (round glutinous rice cake) to Hung Kings, the legendary founders of the nation, on the occasion of the Tet (Lunar New Year).The ceremony was attended by representatives from the municipal Party’s Committee, People’s Council, People’s Committee and Vietnam Fatherland Front Committee.The delegation also burnt incense in tribute to Nguyen Huu Canh, who founded the Saigon – Gia Dinh region (present HCM City) in 1698.This is one of traditional activities held in HCM City during the Tet festival, aiming to honour traditional cultural values as well as great contributions of Hung Kings to national … [Read more...] about Social News 13/2
Social insurance and allied services
Transitional economy of Myanmar: present status, developmental divide, and future prospects
I. Introduction Countries undertaking economic reform measures to transform their economies from centrally directed command economies to market-oriented systems came to be referred as transitional economies. The rationale and inspiration for economic reform movements is provided not only by the failure of formerly centrally planned economies (CPEs) to generate growth and sustain development, but also by the success of market-oriented East Asian countries--the newly industrializing economies (NIEs) of Hong Kong, South Korea, Singapore and Taiwan--as well as the next-tier miracles of East and Southeast Asia --Indonesia, Malaysia, and Thailand. … [Read more...] about Transitional economy of Myanmar: present status, developmental divide, and future prospects
BUSINESS IN BRIEF 3/9
Local shopping website signs deal with Sumitomo E-commerce website Tiki.vn inked early this week a strategic partnership with Japanese corporation Sumitomo. A strategic partner of Tiki, the Japanese corporation will own a 30 per cent stake in the Vietnamese e-commerce website, which started by selling books, but now trades in a great variety of products from fashion to electronics. The deal is a series B round of funding for Tiki, which secured series A funding from the Japanese investment fund CyberAgent Ventures in 2012. The funding from Sumitomo will help Tiki.vn, in a bid to better serve its customers countrywide, boost investment in their warehouses, delivery network, as well as research and development on new products, the company said in a press release. Viettel expands mobile market in Cameroon Vietnamese telecommunications operator Viettel has announced an exciting new tie-up with Bestinver Cameroon S.A.R.L to build mobile network Viettel Cameroon S.A.R.L and provide … [Read more...] about BUSINESS IN BRIEF 3/9
BUSINESS IN BRIEF 3/7
HN seeks higher business ranking The information was made public at the fifth conference of the Ha Noi Party Committee (16th tenure) held on Monday. The conference turned the spotlight on the socio-economic development plan for the period 2016-20, targeting Gross Regional Domestic Product (GRDP) growth of 8.5-9 per cent and per income capita at VND140-145 million (US$6,268-6,492). Social investment mobilisation is expected to be VND2.5-2.6 quadrillion in the next four years. In the economic structure, the service and construction industry account for 67-67.5 per cent and 30-30.5 percent, respectively, while agriculture makes up 2.5-3 per cent. Regarding urban infrastructure development, the capital city is striving to become a green and modern urban area. Its target is to increase the rate of public transportation to 20-25 per cent, zone off 10-13 per cent of urban land for transportation and make the city greener by planting one million trees. The secretary of the municipal Party … [Read more...] about BUSINESS IN BRIEF 3/7
BUSINESS IN BRIEF 18/1
S&P revises Vietcombank's outlook to stable Standard & Poor's Ratings Services (S&P) said today that it had revised its outlook on the long-term rating on Bank for Foreign Trade of Vietnam (Vietcombank) to stable from negative. Meanwhile, it has also affirmed its 'B+/B' counterparty credit ratings on the bank and revised the stand-alone credit profile (SACP) of the bank to 'b+' from 'b'. "The outlook revision reflects Vietcombank's improved SACP after Mizuho Corporate Bank Ltd (MCB) acquired a 15 percent stake in the bank," said Standard & Poor's credit analyst Ivan Tan. "We revised Vietcombank's SACP to reflect the bank's improved capital position after the MCB deal." However, Tan said in S&P's view, Vietcombank's capital and earnings are weak. S&P may lower the ratings if Vietcombank's nonperforming loans increase sharply and its operating performance is poor, or capitalization weakens substantially. The Ho Chi Minh Stock Exchange (HoSE) has … [Read more...] about BUSINESS IN BRIEF 18/1