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Piles of VND100.000 bank notes. — EastAsia forum/VNA Photo Banks must tighten their assessment controls of corporate bond investments to avoid excessive risk and the misuse of funds raised by firms, experts said. In early April, the Banking Supervision Agency, under the State Bank of Vietnam (SBV) conducted an inspection of corporate bond investment activities at seven banks, while the Ministry of Finance inspected one bank. According to the SBV, by the end of 2021, there are 41 credit institutions holding VND274 trillion (US$11.7 billion) of corporate bonds, of which more than 75 per cent of them are held by ten major banks - Techcombank, MBBank, VPBank, TPBank, BIDV, Vietcombank, VietinBank, HDBank, ABBank and SeABank. At some banks, the value of corporate bonds exceeds 10 per cent of total assets. Although the inspection results were not published, a SBV senior leader said in an interview with Vietnam Investment Review that a number of credit institutions failed to … [Read more...] about Banks should tighten assessment controls of their corporate bonds investments – experts

With expertise and advanced technology, Danish firms are expected to develop Vietnam's agri-food industry for high efficiency and sustainability. A delegation of 13 leading Danish agri-food firms in Solutions for Livestock & Food Production, Food Processing Technologies, Ingredients and Climate Control Solutions is giving expertise to Vietnamese partners Representatives of Danish companies attend the seminar held in Hanoi on August 17. Photos: Embassy of Denmark in Hanoi The delegation, which works in areas important for improving agri-food production towards high efficiency, green, and sustainability, expects to share experiences and introduce world-leading and well-proven Danish solutions in agri-food production and look for opportunities to cooperate with Vietnamese companies. The expertise was shared at during Seminar – Business Matchmaking held in Hanoi and Ho Chi Minh City on August 16-19. The events are part of a joint effort between the Embassy … [Read more...] about Denmark extends agri-food expertise to Vietnam

The approval of Vietnam’s circular economy development plan, announced in June, aims to help reduce greenhouse gas emissions by 15 per cent of GDP by 2030 (as compared to 2014). The commitment at COP26 by Vietnam to achieve net-zero carbon emissions by 2050 is considered the main call for investment into green technologies and friendly-environmental projects, as well as approval of plans such as the aforementioned circular economy one. These messages have sent a strong signal regarding the country’s direction towards low-carbon, green development, and a circular economy, and could be a new driving force for Vietnam’s sustainable socioeconomic development, helping to improve its competitiveness and foreign direct investment (FDI) into the country. While governments have committed to lowering CO2, companies are also following suit for the good of the planet, Photo: Shutterstock As a result, numerous groups have made decisions in terms of investment and other operations … [Read more...] about Green standards top policies for fresh foreign ventures

At the meeting (Photo: VNA) Hanoi (VNA) – Deputy Prime Minister Vu Duc Dam on August 17 asked the Ministry of Culture , Sports and Tourism (MCST) to review the operation of household businesses in the tourism sector affected by the COVID-19 . The ministry should coordinate with core travel firms to form key routes connecting localities, the official said at a meeting of the State Steering Committee for Tourism in Hanoi which assessed the implementation of tourism recovery solutions. He ordered restarting heritage digitalisation with the participation of travel enterprises to promote new tourism products. Regarding electricity prices for tourism services and lodging facilities, Dam, also head of the Committee, asked the Ministry of Industry and Trade (MoIT) to submit a plan on power price adjustment to the Prime Minister before application. The MCST, travel associations and firms should propose specific tax and land incentives, he said. Minister Nguyen Van Hung … [Read more...] about Committee seeks ways to ensure rapid, sustainable tourism recovery

Vincom shopping mall in Ha Noi. Vingroup (VIC) was the biggest contibutor to the VN-Index yesterday with a growth of 2.1 per cent. — VNS Photo Mai Huong Shares eked out a gain in HCM City but lost ground in the last trading minutes in Ha Noi amid rising investor caution at the high price range. On the Ho Chi Minh Stock Exchange, the VN-Index inched up 0.05 per cent to close yesterday at 1,275.28 points – its third rally session this week and fourth since last Friday. The market breadth was negative, however, with 191 stocks rising, 252 falling and 118 closing flat. Realty stocks backed the market as half the top 10 shares lifting the VN-Index were real estate firms. Vingroup (VIC) was the biggest contributor with a growth of 2.1 per cent, followed by No Va Land Investment Group (NVL), Phat Dat Real Estate Development (PDR) and Investment and Industrial Development Corp (BCM) with gains of between 1.7 per cent and 7 per cent. Beverage companies also performed well with the … [Read more...] about Shares eke out gains in HCM but investors watch out at high price range

Asia's Best Place to Work is a prestigious international award held by HR Asia for many years to honour businesses with top working environments and outstanding human resource policies, allowances and benefits, sustainable remuneration, and exciting annual activities that connect employees. VSIP JV was honoured to receive this prestigious award right the first time it attends the nomination. Along with the journey of more than 26 years of establishment and development, VSIP’s welfare policies have been increasingly focused when continuously providing diverse insurance packages for employees and their family members. The company also has providing talks on health consultation and periodic health checkups at international hospitals. Thereby, employees and staff are equipped with wide knowledge and care more about their own health, creating a premise for the sustainable development of themselves and their families. HR Asia Award honours VSIP JV as Best Place to Work in … [Read more...] about HR Asia Award honours VSIP JV as Best Place to Work in Vietnam 2022

Illustration. (Photo: thanhnien.vn) Hanoi (VNA) – Regulators, civil society organisations and the private sector put forth various recommendations to strengthen financial resources to promote gender equality in Vietnam during a conference in Hanoi on August 17. They suggested ways to apply gender-responsible budgeting , ensure that the needs of women, men and others are fully considered throughout the budget cycle, and reinforce supervision by the communities, such as civil organisations and people, over public investment budget allocation from a gender perspective. The conference on “Strengthening Financial Resources to Advance Gender Equality in Vietnam” was held by the Ministry of Planning and Investment (MPI), the Institute for Development & Community Health (LIGHT) in collaboration with the UN Entity for Gender Equality and the Empowerment of Women (UN Women) under the UN Joint Programme on Supporting Vietnam towards the 2030 Integrated Finance Strategy for … [Read more...] about Vietnam seeks strengthening financial resources to advance gender equality

The image of Ao Tien high-class tourism urban area has been shared widely on social networks in recent days. (Photo nld.com.vn) Quang Ninh (VNS/VNA ) - The People's Committee of northern coastal Quang Ninh province has refuted information that it has allowed a project to conduct sea encroachment and subdivide land plots for sale, which seriously undermined the conservation of the UNESCO-recognised Ha Long Bay . The committee said the information circulating online about a development project encroaching into the bay in recent days was "not true." The image circulated was taken at in Ao Tien high-class tourism urban area project in Van Don district. The area was in Van Don economic zone, not in the Ha Long Bay, the province stressed. In recent days, the image of an urban area with divided land plots and an island in the middle of the area locating right close to Ha Long Bay has been shared widely on Facebook, stirring strong opposition about greed-driven … [Read more...] about Quang Ninh refutes allegations of sea encroachment in Ha Long Bay

Dry port in Udon Thani (Source: Bangkokpost) Bangkok (VNA) - The Industrial Estate Authority of Thailand (IEAT) has said that it is planning to develop a dry port in Udon Thani, with the aim of developing the northeast province into a centre for regional land transport, linked with the Chinese-Lao high-speed train system. According to the IEAT’s leader Veeris Ammarapala, the new inland transport facility will support trade among provinces in the northeast and the Thai economy. This port will also improve the efficiency of Thai logistics and land transport via roads and railways, he said. The IEAT is also confident the dry port in Udon Thani has the potential to serve ASEAN as a new transport hub in the future because Thailand is located in mainland Southeast Asia, surrounded by Myanmar, Laos, and Cambodia, with southern China nearby. The IEAT said the new dry port can be linked with Laemchabang deep-sea port in Chon Buri and Map Ta Phut deep-sea port in … [Read more...] about Thailand eyes to own regional land transport centre

TTC Phong Dien solar power plant invested by GEC. — Photo geccom.vn JERA Inc., a power generation company of Japan, has signed a deal to buy a 35.1 per cent stake at Viet Nam’s Gia Lai Electricity Joint Stock Company (GEC) to tap the Southeast Asian nation's growing demand for electricity and further its own decarbonisation efforts, Nikkei Asia reported. JERA, a joint venture between Tokyo Electric Power and Chubu Electric Power, will invest 15 billion JPY (US$112 million) in the Vietnamese renewable energy company. The purchase comes as JERA aims to increase its renewables generation capacity to 5,000 MW by 2025. The stake in GEC will add 190 MW, bringing the company's total renewables capacity to 1,900 MW. JERA will also consider jointly developing solar and onshore wind projects with GEC. JERA has already participated in renewable energy projects across Asia, including India and Thailand. It has operated a gas-fired power plant in Viet Nam since 2005. GEC owns hydro, … [Read more...] about Japanese firm buys 35.1 per cent stake in Viet Nam’s power company