Growing

The Hanoitimes - In 2020, the credit growth is expected to be in range of 13 – 13.5%, down from 13.7% last year. Pre-tax profit of Vietnam’s banking sector is predicted to expand 22.5% in 2020, slightly lower than a 23% growth rate in 2019, thanks to strong recovery of some banks, higher revenues from bancassurance and fees, according to SSI Research. Data: SSI. Chart: Hai Yen. Banks that are set to have the strongest profit growth in 2020 include Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Commercial Bank for Investment and Development of Vietnam (BIDV), Vietnam Prosperity Bank (VPBank), Military Bank (MBBank), and Vietnam Technological and Commercial Bank (Techcombank), VnExpress reported. In 2020, the credit growth is expected to be in range of 13 – 13.5%, down from 13.7% last year. According to SSI, such target growth is suitable in the context of tightening lending procedures and the development of corporate bond market. … [Read more...] about Profit of Vietnam banking sector predicted to grow 22.5% in 2020

In its article, the leading financial newspaper of Japanese media giants Nikkei Inc., said Vietnam is targeting a growth rate of 6.5% this year. The agency stated Vietnam’s exports will likely continue to be supported by US tariffs on Chinese goods and that in order to avoid US tariffs, importers have shifted demand from China to alternative suppliers, with this trend likely to continue. According to the agency, before the pandemic, Southeast Asia achieved collective annual growth of about 5% for many years, making it one of the world's best-performing regions. The region also became an attractive investment destination, with a relatively young population driving demand and providing plenty of labour. These advantages remain in place, but first the region needs to stamp out COVID-19. Nikkei also reported that Southeast Asian economies are aiming to this year regain the growth momentum they had before the COVID-19 pandemic caused historic declines in 2020. A look at early … [Read more...] about Vietnam’s economy to be Southeast Asia’s growth leader in 2021: Nikkei

The Hanoitimes - On the occasion of the 25th anniversary of the US-Vietnam diplomatic relations, US companies shared with Hanoitimes their expectations about opportunities for their investment expansions in Vietnam. Dr. Mason Cobb, chairman of Victoria Healthcare International Clinics After Vietnam achieved the middle income status and ODA decreased, the Vietnamese government became more accommodating for investment and that continues to this day. Dr. Mason Cobb, chairman of Victoria Healthcare International Clinics However, it is still not a truly level playing field with local companies. The attitude and perception, and spirit of cooperation has become much warmer and more understanding than during that difficult middle period. More importantly, the company’s mission in healthcare as primarily helping Vietnam build a world-class healthcare system. To that end, the company brings Vietnamese to the US and bring educational and other assets to Vietnam to … [Read more...] about US companies continue to see tremendous investment opportunities in Vietnam

Automation technology can reduce most common causes of injury in manufacturing environments Automation technology can help increase productivity and reduce up to 72 per cent of the common causes of injury in manufacturing environments. According to the Ministry of Labour, Invalids and Social Affairs, Vietnam recorded 3,349 occupational accidents from January to June 2020 with total deaths numbering 378. The accidents were most prevalent in the manufacturing sector (27.41 per cent), construction (23.24 per cent), and services (12.35 per cent) while the remaining 37 per cent was spread across other sectors. Most local manufacturers are currently facing a growing skilled talent shortage which strains their overall productivity and growth. At the same time, employers are also facing immense costs associated with workplace-related injuries. “Cobots can perform tasks that may be dangerous or injury-prone for humans. With built-in safety features that slow the robot arm when a … [Read more...] about Universal Robots: Leveraging automation to reduce workplace injuries

Rai Cave is located in the south of Vinh Hy Bay, Nui Chua National Park, Vinh Hai commune, Ninh Hai district, Ninh Thuan province. It is only about 35 km from Phan Rang city, about 40 km from Cam Ranh city (Khanh Hoa province) and about 90 km from Nha Trang city (Khanh Hoa), very convenient for visitors. The road to Rai Cave is beautiful, winding between the magnificent blue sea and romantic green meadows. According to local people, the reason it is called Rai Cave because it used to be inhabited by sea otters and many dipterocarpus alatus, which were used to extract oil to paint ships and boats to help make them more waterproof. Coming to Rai Cave, tourists are captivated by the magical natural scenery. Just taking a photo at any angle produce a quality shot, for anyone. Rai Cave is not a large cave but in fact a rocky cliff protruding into the sea with many niches and compartments with strange shapes. Enjoying the pictures full of a hauntingly eerie blend of moss and waves, … [Read more...] about Rai Cave – Pearl of Vinh Hy Bay