Supplier relationship management framework

The Vietnam Prosperity Bank's staff offer clients consultation. (Photo: VNA) Hanoi (VNS/VNA) - Over the past decade, Vietnam has seen a remarkable surge in personal financial assets (PFA) that outpaces many other Asian countries. This robust economic environment has created a significant demand for specialised wealth management service s, tailored to the diverse financial aspirations of retail customers. A recent projection by McKinsey & Company has indicated that by 2027, Vietnam's PFA market will reach approximately 600 billion USD, growing annually at a rate of 11% from its 2022 baseline of around 360 billion USD. This growth encompasses a significant increase in managed wealth assets within the industry, presenting an estimated additional 65 billion USD to 75 billion USD in opportunities for institutions. These opportunities are poised for equal distribution across both affluent and high-net-worth individual (HNWI) segments, making it a tantalising … [Read more...] about Unleashing potential of Vietnam’s wealth management market

Vietnam Prosperity Bank's staff offer clients consultation. — Photo vietnamplus.vn Over the past decade, Việt Nam has seen a remarkable surge in personal financial assets (PFA) that outpaces many other Asian countries. This robust economic environment has created a significant demand for specialised wealth management services, tailored to the diverse financial aspirations of retail customers. A recent projection by McKinsey & Company has indicated that by 2027, Việt Nam's PFA market will reach approximately US$600 billion, growing annually at a rate of 11 per cent from its 2022 baseline of around $360 billion. This growth encompasses a significant increase in managed wealth assets within the industry, presenting an estimated additional $65 billion to $75 billion in opportunities for institutions. These opportunities are poised for equal distribution across both affluent and high-net-worth individual (HNWI) segments, making it a tantalising prospect for wealth management … [Read more...] about Unleashing the potential of Việt Nam’s wealth management market

Illustrative image (Photo: Antara) Jakarta (VNA) – Indonesia has the potential to become a country that has a strategic position to meet world gas needs, President of SPA for Asia Pacific Region ENI, Ciro Antonio Pagano, has said. Speaking at the 4th International Convention on Indonesian Upstream Oil and Gas (ICIUOG) 2023 recently held in Nusa Dua, Bali, Ciro Antonio Pagano said that the country's geographical position is considered very strategic for world energy trade, especially gas and LNG. According to him, position is strategic because it is surrounded by large buyers such as Japan, the Republic of Korea and China. On the other hand, gas demand in the domestic market is also high, making Indonesia also a potential gas market, he continued. ENI, an Italian multinational energy company, is one of the companies that has invested heavily in Indonesia. Its seriousness was demonstrated through the corporate action carried out in July 2023, when the company acquired … [Read more...] about Indonesia holds potential to become world’s gas supplier

Colonel Toan expressed belief that the outcomes of the talks would contribute to further strengthening the relationship between the two agencies and between the Vietnam Border Guard Command and Laos’ General Department of Security. For his part, Colonel Saisaminh Sivilay laid stress on the special solidarity between the two countries that are always ready to support each other. At the talks, the two sides evaluated the signing of a cooperation agreement between the Vietnam Border Guard Command and Laos’ General Department of Security in December, 2021 as one of the activities to actualize an agreement on regulations on land border and border gate management between the two governments, contributing to maintaining security and order along the shared borderline and strengthening the special solidarity between Vietnam and Laos. Mentioning the rapid, complicated, complex, and unexpected international and regional situations as well as the crime situation prevention, the two sides … [Read more...] about Vietnam and Laos held talks on border management

Deputy Prime Minister Le Minh Khai (R) receives General Manager of the Bank for International Settlements (BIS) Agustin Carstens in Hanoi. (Photo: VNA) Hanoi (VNA) – Deputy Prime Minister Le Minh Khai received General Manager of the Bank for International Settlements (BIS) Agustin Carstens in Hanoi on September 22. At the reception, Khai highly appreciated BIS ’s innovative activities through the establishment of innovation hubs with significant, effective projects. He said the State Bank of Vietnam (SBV) has been actively participating in projects of the BIS Innovation Hub which helps improve the efficiency of state management and supervision of high-tech financial banking operations, ensuring national and international financial and monetary stability. Deputy Prime Minister Le Minh Khai (right) and General Manager of the Bank for International Settlements (BIS) Agustin Carstens. (Photo: VNA) Vietnam hopes that BIS will pay attention to and continue to deploy … [Read more...] about Deputy PM receives General Manager of Bank for International Settlements

Kuala Lumpur (VNA) – Malaysia’s Investment, Trade and Industry Minister Tengku Zafrul Aziz has stressed that supporting Malaysian small and medium-sized enterprises (SMEs) is vital as the global supply chains are shifting to the Association of Southeast Asian Nations (ASEAN). The minister said ASEAN is set to become not just the world's factory but also a significant consumer base. The 10 ASEAN nations are already home to more than 678 million people, with a combined Gross Domestic Product ( GDP ) of about 3.7 trillion USD last year, he said, adding that as a bloc, ASEAN is the fifth-largest economy in the world, with a middle class of roughly 350 million, representing 300 billion USD of disposable income. Last year, Tengku Zafrul said that when the global Foreign Direct Investment (FDI) fell by 12%, FDI into ASEAN went up by 5%, and its share of global FDI rose to an all-time high of 17%. According to the official, SMEs' survival in local supply chains could help them … [Read more...] about Malaysia support SMEs to tap supply chains shifting to ASEAN

Photo Le Toan Just a week after Vietnam and the US elevated their bilateral relations to a comprehensive strategic partnership, Prime Minister Pham Minh Chinh paid a working trip to the US to attend the 78th session of the UN General Assembly where he underlined Vietnam’s contributions and commitments to the UN’s activities, and met with UN Secretary-General António Guterres. In the US, he also met with US Vice President Kamala Harris, leaders of the US Congress, the national security advisor, and several members of the US cabinet. He also visited the New York Stock Exchange where he knocked the gavel to open a trading session. He underlined the need for both nations to focus on materialising the new cooperation framework into specific strategies, projects, and business cooperation. Noting priorities to be implemented, the PM said both nations must continue to prioritise resources for realising commitments in the joint leaders’ statement on elevating US-Vietnam relations. … [Read more...] about More consideration lent to US investment

Phan Van Son, director of General Department under the Commission for Management of State Capital at Enterprises In Vietnam’s quest for economic prosperity, the Commission for Management of State Capital at Enterprises (CMSC) stands out as a sentinel overseeing the ownership in 19 pivotal state-owned enterprises (SOEs), each playing diverse roles across 16 varied sectors. According to Phan Van Son, director of General Department at the CMSC, the journey, while dotted with accomplishments, has many challenges. “The commission acts as a dedicated agency, symbolising state ownership in enterprises, rendering them guardians of state assets,” said Son. According to Son’s presentation at VIR ’s seminar titled 'Looking Back and Moving Forward' on September 26, by 2022, these 19 SOEs have witnessed a surge in their consolidated total capital and assets, touching $48.7 billion and $105.2 billion respectively, reflecting a substantial 63 per cent of total state ownership capital and … [Read more...] about CMSC navigates reforms and challenges at SOEs

A garment factory of the Maxport Limited Vietnam in Thái Bình province. — VNA/VNS Photo The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) posted 49.7 in September, compared to 50.5 in August, despite the second successive monthly increase in new orders. S&P Global said that after improving in August, overall business conditions in the Vietnamese manufacturing sector declined marginally in September. Underlying data pointed to a strengthening demand environment and growing business confidence, but also a degree of spare capacity in the sector which led to reductions in output and employment. Rates of inflation gathered pace, with both input costs and output prices rising more quickly at the end of the third quarter. The PMI stood at 49.7 points in September, back below the 50.0 no-change mark following a reading of 50.5 in August. The index thereby signalled a deterioration in business conditions for Vietnamese manufacturers, albeit one that was only … [Read more...] about September PMI falls slightly despite increase in new orders

Check out the latest news about Vietnam. European Commission to inspect IUU fishing in Vietnam A delegation from the European Commission (EC) will visit Vietnam on October 10-18 to work with Vietnamese authorities on efforts to prevent illegal, unreported and unregulated (IUU) fishing , the Ministry of Agriculture and Rural Development said on September 25. A high-level dialogue session between the Ministry of Agriculture and Rural Development and the EC working group will take place on October 18, 2023 to discuss the findings of the inspection. Delegates attend the opening ceremony of the Vietnamese Goods Week in Paris. Photo: VNA Vietnamese products promoted at Frech Système U supermarket chain A delegation of 15 Vietnamese enterprises in agriculture, food, and textile industries are promoting their products at the Système U supermarket chain in France as part of the Vietnamese Goods Week in France. The event was inaugurated on September 25 in … [Read more...] about Vietnam news in brief – September 26