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Due to the severe impact of the novel coronavirus (COVID-19) on supply and value chains, the country’s agro-processing industry will need to make adjustments to adapt to shifting consumer behaviour. While logistics are likely to witness a post-pandemic upswing due to the growth of e-commerce and the changing nature of retail, both agro-processing and logistics must embrace digital supply chains. Indeed, they must launch attractive new digital initiatives, with these factors meaning that the need to upskill and reskill local workers is even more urgent. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 21

The transition of e-commerce and addressing barriers to digital transformation have been illustrated via the change of business owners, as 71 percent of SMEs in Vietnam said they have adapted to new methods to introduce their products and services to customers since the pandemic broke out, such as setting up e-commerce channels and in delivery. … [Read more...] about Visa supports online firms amid COVID-19 pandemic

Profits come from service diversification Looking at the profit results of the four State-owned commercial banks (Big 4), Vietcombank had a pre-tax profit of nearly VND23.1 trillion (approximately US$1 billion) - the highest level in the banking system, helping the lender to be in the list of 200 groups with the highest profit in the world. Vietcombank's credit growth in 2020 was higher than the general growth rate of the banking system, at 14 percent. This is also the highest credit growth ever of this lender and the highest in the banking industry. The pre-tax profit of Vietinbank also reached VND16.45 trillion, up 43.5 percent over the previous year due to good credit growth. The recent report of Agribank shows that not only did the business results continue to improve, Agribank's administrative costs in 2020 were also being cut by 10 percent, helping the bank's pre-tax profit to touch nearly VND12.87 trillion, VND369 billion, or approximately 3 percent, higher than the plan. It … [Read more...] about Banks continue to lower interest rates further to support economic growth

Established in 2015, Propzy is a real estate technology business which has successfully raised US$37 million from foreign investors like Gaw Capital and SoftBank, who poured $25 million in series A funding. The other investors include Next Billion Ventures, RHL Ventures, Breeze, FEBE Ventures, RSquare and Insignia. … [Read more...] about Propzy to support start-up

Besides, many clinics in Vietnam also implemented the program. There are 100 clinics specialized in pre-exposure prophylaxis of HIV infection in Vietnam, both public and privately owned. After 3 years of implementation, 12,000 people are still using the program to prevent HIV infections. … [Read more...] about The international community supports Vietnam in the fight against HIV/AIDS