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A Shinhan Bank branch in HCM City. The bank has launched the Shinhan Package for individual customers with optimal benefits when using the demand account, debit/ATM card and digital banking services. — Photo courtesy of the bank Shinhan Bank Vietnam Ltd. has launched the Shinhan Package for individual customers with optimal benefits when using a demand account, debit/ATM card and digital banking services. Shinhan Package customers will get unlimited 1 per cent cashback on spending with a VISA debit card, a 1 percentage point reduction in interest rates on unsecured loans with a payroll account, completely free online banking transactions, and free account opening using mobile numbers format. There are two packages: S-Basic and S-Advance. The S-Basic package includes a demand account, Internet Banking/ Mobile Banking SOL service and ATM card, and the S-Advance package includes a Visa debit card. Shinhan Bank also introduced the Shinhan My SOL International Debit card line in …

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Spanish photographer Felipe Souto's panoramic photo of Vietnam’s terraced fields has been honored at the EPSON International Pano Awards 2021. The 12th EPSON International Pano Awards is dedicated to the craft and art of panoramic photography and is the world's largest competition devoted to the genre. The contest showcases the best work of panoramic photographers around the world. The organizers received 5,378 entries from 1,245 professional and amateur photographers in 97 countries this year, competing for the top spots in five categories. 'Eternal Triangle' by American photographer Joshua Hermann taken in a swamp in Louisiana won first prize. Meanwhile, the photo capturing the immense terraced fields in Vietnam by Spanish author Felipe Souto was among the best photos in the 'Natural landscape' category of amateur photographers. Through the lens of Spanish photographer Felipe Souto, the picture has featured the unique beauty of the fields stretching along the overlapping …

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The Civil Aviation Authority of Vietnam (CAAV) has suggested the Ministry of Transport seeking approval from the Prime Minister for halting flights from ten African countries amid concerns over the new coronavirus variant Omicron. In an attempt to prevent the new strain Omicron from penetrating into Vietnam, the CAAV on Friday proposed suspension of all flights from Botswana, Eswatini, Lesotho, Mozambique, Namibia, South Africa, Zimbabwe, Malawi, Angola and Zambia. At the same time, an entry ban should be imposed on passengers with travel history to these African countries within 30 days before entering Vietnam, the CAAV said. The Ministry of Health should issue specific instructions on medical control for passengers coming from countries where Omicron has appeared, such as South Korea and Japan, the agency recommended. In addition, all international passengers from such countries must be placed in quarantine upon entry into Vietnam. The Ministry of Public Security should …

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On top of weak economic activity and low credit demand, the Covid-19 crisis macroprudential measures announced by the central bank will weigh heavily on banking sector profits for 2020. Fitch Solutions, a subsidiary of Fitch Group, has revised its credit growth forecast for Vietnam to 8% in 2020, from 11% previously, due to a sharp slowdown in economic activity amid the Covid-19 pandemic. Vietnam – Credit Growth (%). This reflected Fitch’s view for a sharper slowdown in credit expansion versus 13.7% in 2019, and also for the measure to fall short of the government’s existing 14% target for 2020. The downbeat credit growth forecast is despite the State Bank of Vietnam (SBV)'s reduction of its policy interest rates on March 17, which took its refinance rate to 5%, from 6% previously, and its discount rate to 3.5%, from 4% previously. The overnight lending rate in the inter-bank market was also cut to 6%, from 7%. Fitch maintained its view that the ample …

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At Bach Ma Vietnam Ceramic Factory, Viglacera has been investing in additional production lines for high-class large format porcelain panels using the Continua+ technology of Sacmi (Italy). — Photo Viglacera Viglacera announced its acquisition of Bach Ma (White Horse) Vietnam Ceramic Factory in Phu My Town, Tan Thanh District, Ba Ria Vung Tau Province. The new deal has brought the total capacity of Viglacera's ceramic factories to 43 million square metres per year, making Viglacera the largest construction material producer in Viet Nam and among the top 20 largest ceramic tile firms in the world. At the Bach Ma Vietnam Ceramic Factory, Viglacera has been investing in additional production lines for high-class large format porcelain panels using the Continua+ technology of Sacmi (Italy). The company also is one of the first enterprises in the Asia Pacific to invest in the world's most modern production line in the creation of large porcelain plates using the Italian technology. …

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The average mobilizing interest rates as of the end of July declined by 0.6 percentage points per annum against late 2019, creating conditions for lower lending rates. The management of policy rates is part of the State Bank of Vietnam (SBV)'s responsibilities in pursuing its monetary policy’s objectives while ensuring fair benefits for depositors, banks and lenders, according to SBV’s Vice Governor Nguyen Thi Hong. SBV's Vice Governor Nguyen Thi Hong at the meeting. Photo: VGP Ms. Hong shared the view at a monthly government press briefing on September 4, in response to a question related to enterprises, including contractors of build-operate-transfer (BOT) projects, that are facing difficulties in accessing preferential loans. According to Ms. Hong, since the first Covid-19 outbreak in Vietnam, the SBV has been implementing measures to support the economy, including a reduction in policy rates, so that banks could lower their deposit interest rates. On …

[Read more...] about Vietnam c.bank ensures harmony in managing policy rates

According to the e-Conomy SEA 2021 report, since COVID-19 reappeared in the first half of this year, Vietnam has added 8 million digital consumers, of which more than half come from non-metro areas. Notably, 99 percent of these new consumers expressed their intention to continue using online services post-pandemic, showing a very high level of adoption of digital services and products of users in our country. The report noted that the Vietnamese internet economy could reach 220 billion USD in Gross Merchandise Volume (GMV) by 2030, ranking second in Southeast Asia after Indonesia. It stressed this is welcoming in the context of the shrinking online travel market, and if this growth is maintained, Vietnam's GMV is expected to reach 57 billion USD by 2025./. VNA …

[Read more...] about Vietnam’s digital economy expects 31-percent growth this year

Masan overcomes Covid challenges to become one of Vietnam's largest five private groups Masan, Vietnam's leading consumer and retail company, owns a system of more than 30 factories and a series of high-tech breeding and agricultural production farms in most key economic regions of the country. The country also boasts a retail chain with nearly 2,500VinMart supermarkets and VinMart+ stores, providing essential products to consumers. Masan has actively implemented many pandemic prevention measures to avoid supply chain disruptions while providing relief to locals. Since the onset of the pandemic, Masan and its subsidiaries have formulated detailed scenarios with several response measures to cope with the pandemic. The group has also shaken hands with reliable partners to ensure smooth supply at reasonable prices for consumers. At the same time, Masan has also deployed multi-channel sales via websites, e-commerce platforms, mobile apps, phone, and online grocery delivery for …

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A conference session entitled “Developing smart banking in the process of Industrialisation and Modernisation until 2030, with a vision to 2045” held on November 18. (Photo: VietnamPlus) Hanoi (VNA) – The average cash transaction has seen a significant decline compared to before COVID-19 broke out, and the figure is expected to drop in the incoming time, according to a recent report by Visa. Visa Country Manager for Vietnam and Laos Dang Tuyet Dung. smart banking in industrialisation and modernisation until 2030, with a vision to 2045 held on November 18 by the Party Central Committee’s Economic Commission and relevant agencies. Less cash in the wallet Dung continued that a report of Visa shows that the average cash transaction of consumers witnessed a remarkable decline compared to before COVID-19 emerged and the trend will continue in the future. Technology takes the reign Phung Duy Khuong, Deputy General Director and head of the Private Banking Division of the …

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Vietnam said it will have sufficient vaccines for the booster jabs in the country of nearly 100 million people. Vietnam’s Prime Minister Pham Minh Chinh has asked health authorities to prepare for vaccinating boost shots as part of efforts to cope with the rising Covid-19 infections in the country now. Vaccinating the old in Hanoi. Photo: Khanh Huy/ The Hanoi Times The request, which was released on Dec 2, is aimed to mitigate fatalities caused by SARS-CoV-2 that has been widespread in Vietnam again after the country relaxed restrictions and switched to safe living with Covid-19 since early October 2021. Under the request, the health sector needs to vaccinate all people who are eligible for inoculation, with special care to the elderly, those with underlying diseases, and frontline health workers. In addition, the Ministry of Health needs to allocate more antiviral drugs to ensure that all infected people access the pills after being confirmed by health …

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