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Techcombank is on track to be among the top ASEAN banks Techcombank’s rise within the Vietnamese banking industry was highlighted last year when it became the first non-state-owned bank to join Vietnam’s billion-dollar profit club. “Even in the very tough environment we are seeing, our employees have maintained a high quality and reliable service for our customers and this is helping us to deliver stellar performance year after year,” said Jens Lottner, CEO of Techcombank. Last year, the bank continued to reduce costs while focusing on building deposits in its current accounts and savings accounts (CASA), which Lottner described as a “stable and cheap” source of funding. Techcombank’s CASA ratio, which reflects the percentage of the bank’s total deposits that are CASA, jumped from 46.1 per cent in 2020 to 50.5 per cent last year, well on its way to the bank’s target of 55 per cent by 2025. Techcombank’s net interest margin, a measure of the difference between the interest … [Read more...] about Techcombank on track for a seat among the top ASEAN banks

Companies that practice gender equality and women empowerment in the workplace, marketplace, and community are believed to gain advantage in competitiveness and sustainable development. Women’s economic empowerment in Vietnam has been promoted through a program funded by the European Union (EU) and the United Nations Entity for Gender Equality and Empowerment of Women (UN Women) for the 2019-2022 period. Le Thanh, Program Manager of the European Union Delegation, speaks at the conference WeEmpowerAsia Journey held in Hanoi on May 10. Photos: UN WOMEN More than 1,500 enterprises in Vietnam have been equipped to improve awareness of women’s empowerment principles in the workplace, marketplace, and community in the past three years in a program funded by the European Union (EU) and United Nations Entity for Gender Equality and Empowerment of Women (UN Women). Approximately 3,300 women-owned enterprises strengthened their capacity to adapt to Covid-19 and the … [Read more...] about EU-funded program promotes women’s economic empowerment in Vietnam

WATER WORLD: The wild beauty of A Nô Waterfall near A Nô community tourism village in A Lưới District. VNA/VNS Photo Đỗ Trưởng Natural beauty and rich traditional culture are proving advantageous for many localities in the central province of Thừa Thiên-Huế, which are making great strides in their development of community-based tourism​​​​​. The mountain district of A Lưới has preserved the unique cultural identity of ethnic minorities such as the Cơ Tu, Pa Cô and Tà Ôi, and the immense primaeval forests of the majestic Trường Sơn Mountain Range have emerged as an outstanding draw for tourists from near and far. The creation of tourism villages and cooperatives across the district focusing on presenting the traditional and cultural identities of local ethnic people through high-quality tourism services has increasingly lured visitors to the area, particularly during national holidays and after the pandemic. Hồ Thị Trâm said her native A Nôr in Hồng Kim Commune became a … [Read more...] about Community tourism adds sparkle to Thừa Thiên-Huế

Le Minh Sang, health specialist at World Bank Vietnam Healthcare public-private partnerships (PPPs) can be classified into five types (see Figure 1) depending on the roles and responsibilities that the private sector takes. Each type has certain advantages and disadvantages. A managed equipment service PPP enables major equipment suppliers to own and manage all equipment required for health facility operations. Under an operation and management services PPP, a private partner is contracted to operate and manage a hospital, health facility, or health network in exchange for a management fee. Specialised services PPPs involve a government contract with a private partner to deliver specific services (dialysis, radiotherapy, laboratory testing) at public healthcare facilities. In a health facility PPP, the government retains control of clinical services, but the private sector provides some combination of the detailed design, construction, and refurbishment of infrastructure. And … [Read more...] about Narrowing the gap for PPPs in health

An 18-year-old white man suspected of fatally shooting 10 people in a Black neighborhood in Buffalo, New York, appears to be the latest in a line of "copycat" gunmen carrying out deadlier mass shootings inspired by previous attackers, experts warned on Sunday. Payton Gendron, who surrendered to police on Saturday after the attack, apparently publicized a racist manifesto on the internet and broadcast the attack in real time on social media platform Twitch, a live video service owned by Amazon.com. Authorities called the mass killing an act of "racially motivated violent extremism." Experts say the trend of mostly young white men being inspired by previous racist gun massacres is on the rise, citing recent mass shootings, including the 2015 attack at a Black church in Charleston, South Carolina, a 2018 shooting at a synagogue in Pittsburgh and a 2019 attack at a Walmart in an Hispanic neighborhood of El Paso. Adam Lankford, a criminology professor at the University of Alabama, … [Read more...] about ‘Copycat’ mass shootings becoming deadlier, experts warn after New York attack

Prime Ministe Pham Minh Chinh addresses the Centre for Strategic and International Studies ( CSIS ) in Washington D.C. (Photo: VNA) Washington D.C. (VNA) – Prime Ministe Pham Minh Chinh has delivered a speech at the Centre for Strategic and International Studies (CSIS) in Washington D.C. during his ongoing working trip to US. The following is the full text of the speech. “SINCERITY, TRUST AND RESPONSIBILITY FOR A BETTER WORLD” Dear Dr. John Hamre, President and CEO of the Center for Strategic and International Studies, Ladies and gentlemen, I am very happy to visit the Center for Strategic and International Studies for the first time today, though this is far from the first time I hear of the CSIS, a top American think tank in the field of foreign strategies and policies and international issues. Seventy-seven years ago, President Ho Chi Minh, the national hero of Vietnam and great man of culture, prefaced the Declaration of Independence establishing the … [Read more...] about Remarks by PM Pham Minh Chinh at CSIS in Washington D.C

The following is the full text of the speech. “SINCERITY, TRUST AND RESPONSIBILITY FOR A BETTER WORLD” Dear Dr. John Hamre, President and CEO of the Center for Strategic and International Studies, Ladies and gentlemen, I am very happy to visit the Center for Strategic and International Studies for the first time today, though this is far from the first time I hear of the CSIS, a top American think tank in the field of foreign strategies and policies and international issues. Seventy-seven years ago, President Ho Chi Minh, the national hero of Vietnam and great man of culture, prefaced the Declaration of Independence establishing the Democratic Republic of Vietnam with this untarnishable fact, “All men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are Life, Liberty and the Pursuit of happiness.” This was the spirit enshrined within the 1776 Declaration of Independence of the United States of America; it … [Read more...] about Remarks by PM Pham Minh Chinh at CSIS in Washington D.C.

Last year, around 140 countries and territories agreed in principle to set up a minimum corporate tax rate-illustration photo, Source:Freepik.com At a conference on May 10, the Vietnam Association of Foreign-Invested Enterprises (VAFIE) released its first annual report on foreign direct investment (FDI) in the country. One of the discussion points at the event was the topic of a global minimum corporate tax and its potential impact on Vietnam’s FDI prospects. Last year a landmark agreement was reached on a minimum global corporate tax rate of 15 per cent. However, the proposal is still in its early stages and getting the majority of nations to come to implemented it may take plenty more time. “Large corporations often choose to pour money into nations with good tax regimes and more incentives. If the global minimum tax of 15 per cent is applied, it will certainly have a big impact on businesses in Vietnam,” said Hong Sun, vice chairman of the Korea Chamber of Business in … [Read more...] about Nation urged to prepare for tax overhaul

Truong Hung Long, director of the Department of Debt Management and External Finance under the Ministry of Finance. Improving the national credit rating is implemented with a long-term vision to reduce the cost of capital mobilisation, enhance the country's reputation, and meet the needs of socio-economic development in the future. Truong Hung Long, director of the Department of Debt Management and External Finance under the Ministry of Finance, spoke with Vietnam News Agency about the issues. The Prime Minister has just approved a project to improve the national credit rating by 2030. The Department of Debt Management and External Finance is assigned to develop and implement the project. What will the department do to fulfil this task? The Government issued Decision 304/QD-TTg on February 6, 2013 to approve a project on improving the national credit rating. That created favourable conditions for the Government in accessing the international capital market. It is also a way … [Read more...] about Viet Nam promotes solutions to improve national credit rating

Prime Minister Pham Minh Chinh delivers a speech at Harvard Kennedy School. (Photo: VNA) In the speech, PM Chinh stressed the importance of independence laid out in the US’s Declaration of Independence “All men are created equal. They are endowed by their Creator with certain inalienable rights, among them are Life, Liberty, and the pursuit of Happiness,” and the spirit of which had been echoed in Vietnam’s Declaration of Independence penned by the late President Ho Chi Minh. The Vietnamese founding father since the very beginning of the modern Vietnam had expressed the desire to set up equal, comprehensive relations with the US in his letter sent to US President Harry Truman in 1946. The Vietnam-US relations have gone through so many vicissitudes and breakthroughs to achieve so much since the two nations officially normalized their ties in 1995. In the 27 years since then, four successive US presidents had visited Vietnam, PM Chinh said. Vietnam and the US have overcome … [Read more...] about PM talks about independent, self-reliant economy at Harvard Kennedy School