Joint stock commercial bank for foreign trade of vietnam

The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) jumps 37 spots to enter the Brand Finance’s top 250 in rankings of the world’s most valuable banks in 2021. (Photo: VNA) Hanoi (VNA) – The Vietnam Prosperity Joint Stock Commercial Bank ( VPBank ) has jumped 37 spots to enter the Brand Finance’s top 250 in rankings of the world’s most valuable banks in 2021. According to the Brand Finance Banking 500 2021 ranking , VPBank ranked 243rd in banking brand value this year. Its brand value grew 41 percent to 502 million USD this year from 354 million USD in 2019. It also represents a nine-fold increase against 2016 when the bank’s brand value was first evaluated at 56 million USD. The 2021 ranking was calculated based on a brand’s market share, growth rate, property size, financial capacity, operating efficiency and prestige, said Lai Tien Manh from Brand Finance Vietnam. In the face of COVID-19 that has taken a heavy toll on the global financial system, … [Read more...] about VPBank breaks into Brand Finance’s top 250 value banks in 2021

The Hanoitimes - Phones and parts posted the largest export turnover among export items during January with US$6.1 billion, up US$3.4 billion against the same period of last year. Vietnam recorded a trade surplus of US$2.09 billion in the first month of 2021, which remained a stark contrast from a deficit of US$300 million in the same period last year, according to the General Department of Vietnam Customs (GDVC). Production for exports at Garment 10 Company. Photo: Pham Hung. In January, the country’s trade turnover stood at US$55 billion, representing an increase of 48.2% year-on-year, in which exports rose by 55.1% to US$28.55 billion and imports by 41.3% to US$7.74 billion. According to the GDVC, foreign-invested sector posted a trade surplus of US$3.98 billion during the period, coming on the back of a 70% surge in exports year-on-year to US$21.57 billion, or over 75% of the country’s total export turnover. Phones and parts posted the largest export … [Read more...] about Vietnam trade surplus surges to US$2.09 billion in January

Since Vietnam joined the International Coffee Organization (ICO), the coffee industry has experienced three crises, with the first occurring in 1991 when the ICO removed the quota system, causing the price of Arabica coffee to drop from US$4,000 per tonne to US$3,000 per tonne. The second happened in 2000 when the price of Robusta coffee dropped to US$400 per tonne, and the third took place last year when the price fell by between US$1,300 and US$1,400. Addressing this thorny issue, almost all coffee businesses have participated in e-commerce trading platforms, marketing the products in London and New York. Private firms have also moved to swiftly set up websites in order to sell their coffee products online, with on-demand home delivery services witnessing rapid growth. Aside from serving customers at coffee shops, take-away services have also been added to allow customers to increase the efficiency of doing business whilst simultaneously ensuring COVID-19 preventive measures … [Read more...] about Coffee industry seeks to weather COVID-19 crisis