The World Bank (WB) and the State Bank of Viet Nam (SBV) ink a grant agreement worth US$2.2 million, sponsored by the Swiss Government, to launch strengthening banking sector soundness and development project, October 1, 2019 - Photo: VGP Speaking at the ceremony, Deputy Governor of the SBV Dao Minh Tu said that the project aims to enhance the strength and resistance of the banking system by improving capacity of the SBV in addressing obstacles in the banking system’s structure. The project will focus on four key pillars including the completion of the legal framework and regulations of the banking sector, the framework of inspection, supervision and management of banks, addressing with bad debt and supporting banks and financial stability and macro-safety framework. At the ceremony, WB Country Director for Viet Nam Ousmane Dione said a sound banking system is of great significance to the sustainable economic development of … [Read more...] about WB, Swiss Government support banking development in VN
Government support
Can Tho looks for foreign support to economic development
Chairman of the municipal People’s Committee Le Quang Manh (Source: VNA) Can Tho (VNA) – The Mekong Delta city of Can Tho hopes to receive support from the World Bank (WB) and the State Secretariat for Economic Affairs (SECO) of Switzerland in institutional building, renovation, development of smart city, climate change adaption, and training human resources, said Chairman of the municipal People’s Committee Le Quang Manh on October 7. During a working session in the province to discuss potential partnership programmes on economics, trade and urban management between Can Tho and the two agencies, Manh said the city wants to learn from experience and good models in the world in administrative reform, and to perfect policies through the assistance of the WB and the SECO. Municipal authorities are focusing on promoting economic restructuring and improving quality and competitiveness for its farm produce in regional and global markets through building key … [Read more...] about Can Tho looks for foreign support to economic development
World Bank supports Indonesia’s geothermal energy development
An employee monitors pipeline of Karaha Unit I geothermal power plant owned by PT Pertamina Geothermal Energy in West Java (Photo: Antara) Jakarta (VNA) – The World Bank (WB) has approved a 150 million USD loan for Indonesia to scale up investments in geothermal energy by reducing the risks of early-stage exploration. climate-friendly development. Geothermal energy is expected to play a significant role in reducing Indonesia’s greenhouse gas emissions. As a clean and renewable energy source that provides power continuously, geothermal can reduce the country’s dependence on coal-fired power and other fossil fuels. If geothermal resources can be accessed easily, costs are competitive with coal and natural gas. Indonesian Minister of Finance Sri Mulyani said the country’s geothermal sector has vast potential and its current installed geothermal power capacity is already the second largest in the world. Geothermal is environmentally sustainable and … [Read more...] about World Bank supports Indonesia’s geothermal energy development
Government leader hails plan to launch Prague- Hanoi air route
Prime Minister Nguyen Xuan Phuc (R) welcomes Deputy Prime Minister and Minister of the Interior Jan Hamacek. The cabinet leader also proposed that the two countries work hand in hand for the celebration of the 70th anniversary of bilateral diplomatic ties next year. He said he believes that the Vietnamese community in the European country will make greater contributions to bilateral ties, and asked the Czech Republic to offer favourable conditions to grant visas to Vietnamese citizens for travel, study and working. PM Phuc praised the Czech Republic for expediting the signing of the European Union-Vietnam Free Trade Agreement (EVFTA) and the EU – Vietnam Investment Protection Agreement (EVIPA) in June. He urged the country to soon ratify the EVIPA and speed up the European Parliament’s early ratification of the EVFTA, thus helping deepen the Vietnam – EU comprehensive partnership and the Vietnam – Czech Republic economic, trade and investment ties. Phuc … [Read more...] about Government leader hails plan to launch Prague- Hanoi air route
PM Hun Sen supports establishment of VN-Cambodia special economic zone
Prime Minister Nguyen Xuan Phuc (second from right) and Cambodian Prime Minister Samdech Techno Hun Sen (third from right) witness the signing ceremony of a Memorandum of Understanding on investment cooperation between the Vietnamese Ministry of Planning and Investment and the Cambodian Development Council. Photo: VGP >>> PM Phuc hosts official welcome ceremony for Cambodian counterpart Hun Sen made the call while addressing the Viet Nam-Cambodia trade and investment promotion conference in Ha Noi on Friday. The event was also attended by Vietnamese Prime Minister Nguyen Xuan Phuc. He affirmed that Cambodian Government will make greater efforts to improve business climate through holding dialogues with businesses, cutting business costs, and developing new investment law in a bid to create more favorable conditions for investors. Hun Sen pledged to meet with Vietnamese investors annually while suggesting regular meeting between the Council for … [Read more...] about PM Hun Sen supports establishment of VN-Cambodia special economic zone