Sustainably managed forests certification

A delegation from Vietnam’s T&T Group, led by chairman of the board Do Quang Hien, embarked on a visit to the headquarters of DB Group, a prominent economic powerhouse in South Korea, on May 25. Under this comprehensive accord, T&T Group and DB Group will support each other's endeavours with the shared goal of becoming leaders in Vietnam's thriving insurance sector. Additionally, the two groups have committed to jointly exploring and executing ventures across multiple other industries. Speaking at the signing ceremony, Do Vinh Quang, vice chairman of the Board of Directors and Deputy CEO of T&T Group, highlighted the shared vision of both companies to excel in Vietnam's insurance sector. Recognising the potential in other areas such as finance, asset management, IT, and real estate, Quang emphasised the importance of leveraging these strengths to achieve sustainable growth for both conglomerates. He expressed confidence, stating, “This strategic collaboration will … [Read more...] about T&T Group and DB Group form strategic partnership to fuel investment opportunities

Latest figures from the central bank show that in late February the on-balance sheet non-performing ratio of the banking system stood at 2.91 per cent, an increase compared to 2.46 per cent in late 2016, 1.49 per cent in late 2021 and most recently, 2 per cent in late 2022. However, according to a State Bank of Vietnam (SBV) assessment, several sorts of debts have the potential to be turned into bad debts in the future, such as investment into corporate bonds for debt restructuring, hard-to-collect receivables, among others. “If such debts were considered, the non-performing loans (NPLs) ratio of the system might reach 5 per cent of total outstanding balances,” said SBV Governor Nguyen Thi Hong. One positive point is that credit institutions have been taking practical measures to ensure operational safety through boosting their loan loss reserve (LLR) funds for their bad debts . Accordingly, credit institutions have maintained a fairly high LLR ratio approximating … [Read more...] about How bad debts influence lending rates

The Huong (Perfume) Pagoda Festival is one of the biggest celebrations in the Lunar New Year. Preparations have been wrapped up for the Huong (Perfume) Pagoda Festival, one of the biggest celebrations in the Lunar New Year. Everything is ready to welcome thousands of Buddhist pilgrims. The opening ceremony of the Huong Pagoda is held on the sixth day of the Lunar New Year, which falls on January 30. The pagoda is a vast complex of Buddhist temples and shrines built in the limestone Huong Tich mountains in Huong Son commune, My Duc district, Hanoi. The Huong Pagoda festival attracts thousands of visitors and Buddhist followers. This year, the religious site is expected to welcome 40,000 – 50,000 people coming to pray and show reverence to Buddha. According to the organizing board, during five days of Tet, the number of visitors to the Huong pagoda increasingly amounted to 15,000, of them, 3.7 thousand … [Read more...] about Perfume Pagoda gets ready for a festival kick-off

In a decision issued by Prime Minister Pham Minh Chinh on Tuesday, the completion of the capital's second metro line has been pushed back five years later than previously planned. The decision was in line with a recent proposal by the Hanoi People’s Committee to postpone the project’s completion date. The total investment for the project is now over VND34.8 trillion, with VND3.9 trillion more coming from the city budget, and VND2 trillion less coming from Official Development Assistance (ODA). The committee will be responsible for the accuracy of information and statistics regarding the project, including the resolution of potential issues, the decision stated. Hanoi will also be responsible for the delay's extra costs, which will be paid for with funds from the city's 2021-2025 public investment plan. If the project fails to meet its new deadline by the end of 2025, the capital city would have to utilize other sources of funding to complete the project. In April, the … [Read more...] about Hanoi’s second metro line delayed again to 2027

Fishing vessels are seen at Phu Quy Island in the south central province of Binh Thuan . (Photo: VNA) Binh Thuan (VNA) – The south central province of Binh Thuan is raising public awareness in the fight against illegal, unreported, and unregulated (IUU) fishing and the implementation of the 2017 Fisheries Law. The moves come as part of the country's180-day action plan for IUU fishing prevention and control. Since the beginning of this year, the provincial Fisheries Sub-Department has coordinated with localities to organise six classes for 450 fishermen, especially those working on offshore fishing vessels and groups with a high risk of committing to IUU fishing. IUU fishing and illegal fishing in foreign waters. Local vessel owners and captains of offshore fishing ships signed commitments not to violate foreign waters. From July 2019 to June 2021, no fishing boats or fishermen violated foreign waters. However, from mid-2021 until now, there have been eight cases … [Read more...] about Binh Thuan province promotes awareness to fight illegal fishing

An overview of the NA's fifth session. (Photo: VNA) Hanoi (VNA) – National Assembly (NA) deputies will continue their ongoing fifth session on May 30 discussing important matters, including a draft Law on Electronic Transactions (revised) and a draft resolution on pilot special policies for the development of Ho Chi Minh City. The draft Law on Electronic Transactions (revised) has seven chapters and 54 articles. Compared to the current version, the bill has 31 new and nine amended articles, while erasing a number of regulations in five and eliminating three articles. During the morning discussion, NA deputies will decide the investment policy for the project to construct road from National Highway 27C to Road 656 in Khanh Hoa province which links to Lam Dong and Ninh Thuan provinces, as well as the adjustment of the investment policy for Ka Pet reservoir in Ham Thuan Nam district of Binh Thuan province. In the afternoon, they are scheduled to listen to a proposal and a … [Read more...] about NA deputies continue to discuss draft laws, resolutions on May 30

Ericsson has also gained important recognition for developing energy-efficient 5G RAN solutions that cater to customers’ needs. — Photo courtesy of the firm Ericsson has retained its top ranking in the Frost Radar™ 5G Network Infrastructure Market 2023 report for the third consecutive year. Maintaining the top ranking in the Frost Radar™ report over the past years has shown Ericsson’s consistent ability to scale its innovations and growth in the field, according to the yearly report from business consulting firm Frost & Sullivan. It also reaffirms Ericsson’s leadership in the 5G network infrastructure market, which spans radio access networks (RAN), transport networks, and core networks. Ericsson has also gained important recognition for developing energy-efficient 5G RAN solutions that cater to customers’ needs. Fredrik Jejdling, Executive Vice President and Head of Networks at Ericsson, said: “It is rewarding to see our sustained efforts to increase the energy efficiency … [Read more...] about Ericsson retains top ranking in Global 5G network infrastructure market 2023 report

As annual tourism activity held by the local authorities, the event aims to promote and introduce unique, attractive and outstanding values of  tourism resources of Ninh Binh, especially UNESCO-recognized World Cultural and Natural Heritage - Trang An Scenic Landscape Complex. Via the annual event, Ninh Binh continues affirming its brand and position as a safe and friendly destination, as voted by many renowned newspapers, magazines and travel websites worldwide as one of the top 10 ideal destinations for a wonderful family vacation in 2023. The event offers a chance for visitors to admire a 9,500sq.m painting using rice as material on vast fields of Tam Coc stretching along the winding Ngo Dong river. The painting symbolizes abundance and the bountiful water element that supports the sustainable development of green tourism in the ancient capital of Hoa Lu, a land of cultural heritage for thousands of years. Rice fields in Tam Coc have been voted as one of the most beautiful in … [Read more...] about Tourism week “The Golden Color of Tam Coc – Trang An” opens in Ninh Binh

Since its establishment in Vietnam in 1992, Deutsche Bank has steadily forged a remarkable 30-year legacy of expansion and development, solidifying its position as a driving force propelling the ASEAN banking sector forward. Today, its presence in Vietnam remains instrumental, playing a pivotal role in the group's burgeoning influence across the vibrant Asia-Pacific region. It has witnessed a doubling of its revenue over the past two years. Deutsche Bank offers a wide range of corporate and investment banking solutions to multinational companies, domestic conglomerates, and financial institutions in Vietnam. This multifaceted spectrum of services encompasses asset management, foreign exchange, capital arrangement for businesses, and an array of advisory solutions. Since 2017, Deutsche Bank has successfully mobilised over $1 billion in annual funding, including loans and equity capital, for Vietnamese enterprises. The bank has also solidified its position by arranging capital and … [Read more...] about Deutsche Bank expands investment in Vietnam

The 2023 Ninh Binh tourism week attracts crowds of tourists (Photo: VNA) Ninh Binh (VNA) - The 2023 Ninh Binh tourism week themed “The Golden Colour of Tam Coc - Trang An ” kicked off in Hoa Lu district of the northern province of Ninh Binh on may 27. As annual tourism activity held by the local authorities, the event aims to promote and introduce unique, attractive and outstanding values of tourism resources of Ninh Binh, especially UNESCO-recognised World Cultural and Natural Heritage - Trang An Scenic Landscape Complex. Via the annual event, Ninh Binh continues affirming its brand and position as a safe and friendly destination, as voted by many renowned newspapers, magazines and travel websites worldwide as one of the top 10 ideal destinations for a wonderful family vacation in 2023. The event offers a chance for visitors to admire a 9,500 sq.m painting using rice as material on vast fields of Tam Coc stretching along the winding Ngo Dong river. (Photo: … [Read more...] about Tourism week “The Golden Colour of Tam Coc – Trang An” opens in Ninh Binh