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Vietnam striving to promote sustainable marine aquaculture development Vietnam striving to promote sustainable marine aquaculture development hinh anh 1 A shrimp farming area in Phu Yen province Vietnam is to have 280,000 ha of marine aquaculture area and 10.5 million cubic metres of farming cages by 2025, according to the Ministry of Agriculture and Rural Development (MARD). Annual marine aquaculture output and export turnover are expected to reach 850,000 tonnes and between 800 million and 1 billion USD, the ministry said. The MARD has taken a series of measures to promote sustainable marine aquaculture in coastal areas nationwide, towards turning the sector into a key part of the country’s maritime economy by 2045. Deputy Minister of Agriculture and Rural Development Phung Duc Tien said agencies have coordinated with coastal localities to review and build a plan for aquaculture development in Vietnam to 2030 with a vision to 2045. The plan will focus on … [Read more...] about VIETNAM BUSINESS NEWS MARCH 7

Bold new approach for digital banking (source: freepik.com) By Vu Thanh Minh and Ha Thanh An Lawyers, LNT & Partners In addition to a number of notable changes relating to opening bank accounts, long-awaited reform via Circular 16 is the detailed regulation on opening individual payment accounts at credit institutions by electronic know-your-customer (eKYC). This is the first legal instrument that provides detailed guidance on its implementation. The system is used to verify customer’s identity against the declared information in compliance with applicable laws and regulations, with support from video call and AI technologies such as face-matching for photos on ID card, or optical character recognition to read and extract information, instantly comparing personal information with a centralised database of user identity. Thus, bank account opening and customer onboarding become much easier, as customers do not need to go to a branch to open a bank account. In the past, … [Read more...] about Bold new approach for digital banking