Vice President of the Asian Development Bank (ADB) Stephen P. Groff (Source: World Economic Forum) Hanoi (VNA) – The theme proposed by Vietnam for the World Economic Forum on ASEAN (WEF-ASEAN) this year, “ASEAN 4.0: Entrepreneurship and the Fourth Industrial Revolution (IR4),” is very relevant and timely, said Vice President of the Asian Development Bank (ADB) Stephen P. Groff. In an interview granted to the Vietnam News Agency (VNA) on the sidelines of the WEF ASEAN 2018, which is taking place in Hanoi from September 11-13, the ADB official talked about prospects of development for Vietnam and the ASEAN Economic Community in the context of the IR4. He noted that technological advances are happening at unprecedented speed, and such rapid technological change will have major implications for education, training and skills development in ASEAN countries, including Vietnam, and countries will need to align the supply of skills with the demands of the new economy. … [Read more...] about WEF ASEAN 2018’s theme relevant and timely: ADB Vice President
Where invest money 2018
Foreign investment funds remain upbeat about the Vietnamese market’s potential, Photo: Le Toan In this year’s past quarter, the Vietnamese stock market went through a corrective period, as the main gauge VN-Index tumbled by 20 per cent from its historic peak of 1,170 points in March. External volatilities on trade and foreign currencies threatened to drag the market down further. However, foreign investors, who have seen the value of their portfolio going south, now take refuge in the upbeat business results of leading Vietnamese firms. Tundra Vietnam Fund, the first Scandinavian fund focused solely on Vietnam, noted that they saw earnings growth in key sectors, such as banking, real estate, materials, and construction. The financial sector posted year-on-year growth between 50 and 150 per cent, which excited Tundra Vietnam as Saigon Securities and HDBank are both among its top 10 holdings. Specifically, Saigon Securities posted VND2.1 trillion ($92.92 million) in gross … [Read more...] about Bearish market does not deter investment funds
Improving the food safety of products like poultry, fruits, and vegetables is said to be the key to unlock new market opportunities, increasing the income of local farmers, food producers, and exporters, as well as helping Vietnam achieve its agricultural export turnover target of $40 billion in 2018. Over the next three years, IFC, a member of the World Bank Group, in partnership with New Zealand, will build awareness for increased food safety standards and deliver customised training programmes to about 1,000 smallholder farmers based on the basic level of GLOBAL G.A.P. requirements and other relevant standards. This project will also provide a more intensive package of support to a maximum of 20 smallholder farmers, helping them acquire the GLOBALG.A.P. certification—an internationally recognised set of farm standards dedicated to Good Agricultural Practices (GAP)—or equivalent standards. It will also find opportunities to connect the trained farmers with potential … [Read more...] about Food safety investment to boost agricultural exports
VietNamNet Bridge - The Government Inspectors’ conclusion that $5 billion worth of state’s money is “wrongly spent”’ a year has stirred up the public, reported Dat Viet. Vietnam needs huge capital for infrastructure development “$5 billion means 2-3 percent of Vietnam’s annual GDP ($200 billion). This is an unacceptably high level,” said Nguyen Van Ngai from the HCM City Agriculture & Forestry University. He noted that this is the official figure released by the Government’s Inspector and he is not sure if there are unreported figures. “I am afraid that if taking unreported figures into consideration, the real figure would be even higher,” he said. Dinh The Hien, an economist, said it is necessary to clarify what “wrongly spent” means. “Does ‘wrongly spent’ include expense items which don’t come in line with the laws, ineffective expense items and expenses in embezzlement … [Read more...] about $5 billion ‘wrongly spent’ each year: where has the money gone?
When financial transactions grow rapidly in size and variation, banks are required to work together and invest more in advanced technologies to combat money laundering. At the workshop featuring “Readiness to conquer challenges in anti-money laundering and employ new technology trends in the Fintech era,” recently held by the State Bank of Vietnam (SBV) and PricewaterhouseCoopers Consulting Vietnam, a member of the global PwC network, experts shared that the increased diversity of financial transactions and the emergence of new, disruptive technologies in the modern and integrated world have given rise to numerous challenges for Vietnamese commercial banks in complying with anti-money laundering (AML) regulations now and in the future. The workshop brough together leading experts from Vietnam and the region Through its 2018 Global Economic Crime and Fraud report, PwC thus revealed a number of findings related to AML, including the need for stricter regulatory … [Read more...] about New technologies to prevent anti money laundering activities