PM to chair meeting on wood exports Prime Minister Nguyen Xuan Phuc will chair a meeting on wood processing industry and forestry exports in HCM City on August 8, the Ministry of Agriculture and Rural Development’s Viet Nam Administration of Forestry has announced.The forthcoming event will attract the participation of more than 500 enterprises operating in wood and representatives from foreign and domestic agencies. They will discuss measures for the fast and sustainable development of timber industry in the time to come.Statistics from the administration revealed that the country earned US$5 billion from forestry exports in the first seven months of this year, up 14 per cent year-on-year.The exports fulfilled nearly 56 per cent of the yearly target and made up 22.6 per cent of the total turnover of the agriculture sector.The US, China, Japan and South Korea were the largest forestry importers of Vietnamese timber goods. Other markets with strong growth … [Read more...] about BUSINESS NEWS 7/8
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Soc Trang pledges to roll out red carpet for investors
Soc Trang pledges to roll out red carpet for investorsBy Trung Chanh Soc Trang pledges to roll out red carpet for investors - PHOTO: TRUNG CHANH SOC TRANG – The capacity to attract investment is considered a crucial factor behind the economic growth of the Mekong Delta province of Soc Trang. The local government has pledged to create ideal conditions for companies to set up shop there, officials said. The provincial government organized a conference on investment promotion and start-up mobilization on June 19. More than 500 delegates from central agencies and ministries, international organizations, banks and potential investors, among others, took part in the conference. Notably, Prime Minister Nguyen Xuan Phuc delivered a speech at the event. Tran Du Lich, a member of the prime minister’s economic advisory group, told the delegates that the provincial government should make use of achievements in institutional reform, integration and the application of scientific … [Read more...] about Soc Trang pledges to roll out red carpet for investors
Indirect investment from RoK to Viet Nam promoted
Finance Minister Dinh Tien Dung is chairing a conference in Seoul from 16-19 to promote indirect investments from the Republic of Korea (RoK) to Viet Nam, according to the State Securities Commission (SSC). — Photo vneconomy.vn Finance Minister Dinh Tien Dung is chairing a conference in Seoul from 16-19 to promote indirect investments from the Republic of Korea (RoK) to Viet Nam, according to the State Securities Commission (SSC). At the investment promotion conference, Vietnamese officials will publicise the country’s policies on economic restructuring, equitisation of State-owned enterprises (SOEs) and measures to encourage foreign indirect investment into the stock market. The conference also creates a venue for Vietnamese management agencies to meet and encourage RoK financial investors, bankers and insurers to conduct business in Viet Nam, as well as to hear assessments and recommendations from Korean investors regarding Viet Nam’s financial and insurance … [Read more...] about Indirect investment from RoK to Viet Nam promoted
Shinhan Bank Vietnam announces 2018 brand ambassadors
Korean-backed Shinhan Bank Vietnam Ltd. today announced coach Park Hang Seo and U23 captain Luong Xuan Truong to be the brand ambassadors of Shinhan Bank in 2018. Coach Park Hang Seo and U23 captain Luong Xuan Truong become the brand ambassadors of Shinhan Bank Vietnam in 2018 After U23 Vietnam’s excellent performance in the recent Asian Football Confederation (AFC) U23 Champions Finale, coach Park Hang Seo and Luong Xuan Truong have become the icons of inspiration, evoking the determination to follow the passion and dreams in Vietnamese football fans. Having coach Park Hang Seo and Luong Xuan Truong as its brand ambassadors, Shinhan Bank wishes to continue spreading this positive attitude for life “Dare to set big goals and be committed till the very end, your efforts will be paid off. Shinhan Bank commits to accompany the valued customers in the journey to achieve their next big goals”. That is the underlying message Shinhan Bank would like to … [Read more...] about Shinhan Bank Vietnam announces 2018 brand ambassadors
Contestants in final round of Vietnam’s first financial technology competition
The list of the 16 finalists in the first-ever Fintech Challenge Vietnam (FCV) was officially revealed by the Asian Development Bank (ADB) – Vietnam on March 20. The Fintech Challenge Vietnam aims to adopt the latest financial technology and encourages collaboration among banks and fintechs in order to promote financial inclusion in Vietnam The Fintech Challenge Vietnam (FCV) aims to spur innovation in the financial services sector that promote greater financial inclusion in the country, focusing on five fintech “verticals” that are critical for financial inclusion, including e-Payments, e-KYC, Peer-to-peer Lending, Open APIs, and Blockchain. The competition was co-organized by the State Bank of Vietnam (SBV), the Mekong Business Initiative - a programme funded by the Government of Australia and the ADB, along with support from the Vietnam Bankers Association (VNBA) and the Vietnam Fintech Club (VFC). As of the application closing date on January 31 this … [Read more...] about Contestants in final round of Vietnam’s first financial technology competition
BUSINESS IN BRIEF 4/2
ADB helps urban infrastructure development in HCM CityVice Chairman of Ho Chi Minh City People’s Committee Tran Vinh Tuyen on February 1 received Eric Sidgwick, Asian Development Bank (ADB)’s Country Director for Vietnam.At the meeting, the municipal official affirmed that HCM City is committed to implementing cooperation deals with its partners, especially ADB. He added that the Vietnamese Government is revising projects using official development assistance (ODA) to ensure their effective implementation.Regarding the four major projects between HCM City and ADB, Tuyen noted that the city has asked the Ministry of Planning and Investment to allocate funding for the metro line No.2.It also approved the compensation plan for land clearance which the HCM City’s Management Authority for Urban Railway and ADB have agreed on. In addition, HCM City has worked on ADB’s recommendations on the first phase of the metro line No.5.For his part, Sidgwick affirmed to support … [Read more...] about BUSINESS IN BRIEF 4/2
PM defends ’made in Việt Nam’ push
HÀ NỘI — Prime Minister Nguyễn Xuân Phúc has defended the Government’s call to prioritise domestic products following the scandal last year involving Khaisilk’s false claims that it sold “made in Việt Nam” goods. Questioned by National Assembly deputy Dương Trung Quốc regarding the unwanted downside of the campaign “Vietnamese prioritise Vietnamese goods”, Phúc on Wednesday admitted that some companies had taken advantage of the favourable policy for domestic companies to “cheat and break the law”. “In a particular case of Khaisilk, the loss is not only to the company but on a much bigger scale – the credibility of Vietnamese brands and the trust of Vietnamese and foreign customers in Vietnamese products in general has eroded,” Phúc said. Khaisilk was once regarded as a popular high-end Vietnamese silk brand with stores popping up in touristy areas across … [Read more...] about PM defends ’made in Việt Nam’ push
VIB wins international recognition
VIB wins international recognitionThe Saigon Times Daily HCMC – Last year saw Vietnam International Bank (VIB) continuing gaining recognition from local and international organizations for its better banking products and services. The bank obtained titles and awards such as “Bank with the highest credit strength ratings in Vietnam” and “Most outstanding bank with innovative products and services” via the MyVIB app from International Data Group (IDG). Notably, it got “Bank of the Year 2015” title from The Banker magazine of the UK, one of the most prestigious banking publications in the world. Founded in 1926 and based in London, The Banker is now one of the world’s leading magazines on economics, finance and commerce. In 2015, The Banker honored the most outstanding banks in each of 152 countries by considering their financial strength, business model and risk management capability. Aside from criteria such as capital, assets, net … [Read more...] about VIB wins international recognition
Experts say local banks should be more active on social media
Experts say local banks should be more active on social mediaHong Phuc By Hong Phuc - The Saigon Times Daily HCMC – Experts said at the ASEAN Banker Forum in HCMC last week that local banks should take advantage of social media to promote their products and services. In addition to conventional distribution channels such as branch, transaction office, automated teller machine (ATM), point of sale (POS), call center, home banking and phone banking, experts said internet banking, mobile banking, tablet banking and social media would grow fast in the banking sector. Can Van Luc, a senior expert of Bank for Investment and Development of Vietnam (BIDV), said a survey of Capgemini conducted in 32 nations with the participation of 17,000 customers this year shows 68% of people in America recognize the role of social media in maintaining customer relations, followed by 57% in the Asia-Pacific and 55% in the Middle East and Africa. “The number of Facebookers worldwide is rising and … [Read more...] about Experts say local banks should be more active on social media
BUSINESS IN BRIEF 10/12
JETRO to host Invest Japan seminar in Ho Chi Minh CityJapan External Trade Organisation Ho Chi Minh City (JETRO) and the Ministry of Planning and Investment's Foreign Investment Agency will co-organise the Invest Japan seminar in Ho Chi Minh City on December 19.The seminar aims to introduce the strengths of the Japanese market, the advantages of establishing a branch in Japan, as well as JETRO’s free support activities for enterprises in Vietnam looking to invest or establish a business in Japan.The relationship between Japan and Vietnam has improved significantly over the past years. This January, Japanese Prime Minister Shinzo Abe visited Vietnam. In March, the Emperor and his Empress visited Vietnam for the first time, and in June, Vietnamese Prime Minister Nguyen Xuan Phuc visited Japan for the second time after taking office.In terms of the economy, the number of Japanese enterprises investing in Vietnam continues to increase, while trade relations are on the rise. A growing … [Read more...] about BUSINESS IN BRIEF 10/12