Vietnam central bank interest rate

Counterfeit transactions have fallen sharply with chip cards. — Photo vneconomy.vn Despite high costs, domestic banks are issuing more chip cards that meet EMV standards to replace magnetic strip cards in order to improve security and meet the central bank’s regulations. According to Pham Dang Khoa, deputy director of Vietinbank’s Card Centre, the biggest problem for banks when it came to replacing magnetic strip cards was the cost. Banks have to pay for the new cards and invest in devices that accept them, such as ATMs and POS machines. Meanwhile, most customers are not willing to pay to switch. With more than eight million existing customers using magnetic strip cards, Khoa estimated his bank would have to spend a large sum as the cost of producing a chip card is roughly eight to ten times higher than magnetic strip cards. To encourage customers to use chip cards, Khoa said VietinBank would help customers replace their old cards due to the advantages of the new … [Read more...] about Banks issues more chip cards for security

In'l partnership drives VN resort developer toward luxury segmentHanoi French Hospital improves service quality with the launch of new facilityStrong partnership to prevent non-communicable diseases threats at an early stageGoBear Vietnam Closes a Record Year of Strong GrowthBIM LAND and HYATT make Agreement at Vietnam Travel and Tourism Summit 2019 StoxPlus provides Datafeed Service to Shinhan Bank Vietnam Ltd. for its Securities Service System According to the Agreement signed in March 2017, StoxPlus Joint Stock Company (“StoxPlus”) agreed to provide Shinhan Bank Vietnam Ltd. (“Shinhan Bank Vietnam”),  datafeed covering market data and corporate actions for all listed companies on Vietnam Stock Market. The data is used for the Securities Services System of Shinhan Bank Vietnam with an Application Programming Interface (“API”) – a standard DataFeed Service system developed by StoxPlus and commonly used as best practice in the World. … [Read more...] about StoxPlus provides Datafeed Service to Shinhan Bank Vietnam Ltd. for its Securities Service System

It was a crucial turning point in former South Korean Ambassador to Vietnam Ha Chan Ho’s life when he switched from finance to diplomacy, and his appointment in the Southeast Asian country proved to be his greatest ambassadorship ever. The ambassador has returned to Vietnam several times since he wrapped up his three-year tenure in Vietnam in 2013. “The Vietnamese blood seems to always run in my veins, and many have mistaken me for a Vietnamese man,” Ha said. Finance to diplomacy “I was not born a diplomat and never thought of becoming an ambassador during my school years,” the veteran diplomat revealed. After graduating from university with flying colors in 1976, he landed a dream job at Korea Exchange Bank. “It was a well-paid, stable job but I was somehow not happy, until the dream of being a diplomat was lit,” he added. Back in the late 1970s, South Korea was transforming itself from a backward economy into a thriving nation which … [Read more...] about Ambassadors in Vietnam – P8: A life-changing move

The Vietnam's top official appeared in good condition at the meeting where he called for fiercer fighting against corruption, a campaign he has spearheaded since 2017. "We have to continue the fight against corruption and negativity with the spirit of determination and perseverance, we have to raise the spirit of solidarity and unity at all levels and branches," Trong said at the meeting which was joined by Prime Minister Nguyen Xuan Phuc, National Assembly Chairwoman Nguyen Thi Kim Ngan, and Tran Quoc Vuong, Chairman of the Party Central Committee's Inspection Commission. Vietnam's foreign ministry spokesperson said last month that Trong had some health issues due to heavy workload and weather conditions, and would return to work soon. The statement came shortly after Trong and his entourage paid a visit to the southern Kien Giang Province on April 13-14, when they discussed with local authorities the implementation of socio-economic, security and national defense tasks. He was absent … [Read more...] about Vietnam party chief, president hosts key meeting after sick leave

Competition among airlines in Vietnam has intensified since Bamboo launched in January. Malaysia’s AirAsia Group recently canceled its foray into the Vietnamese market, and increased traffic has placed strain on Vietnam’s aging infrastructure. But Bamboo chief executive Trinh Van Quyet is confident he can fend off budget carrier VietJet and state-owned Vietnam Airlines by using the airline to connect his golf resorts to cities in Vietnam and northeast Asia. "Even international airlines don’t have an ecosystem like Bamboo’s," said Quyet, chairman of Bamboo’s parent company, FLC, which owns five golf resorts across the country. The young airline’s slogan is "more than just a flight." "We have the rooms and combo packages for passengers. They can visit Vietnam, stay and play golf for free," Quyet told Reuters in a recent interview from an FLC resort in Ha Long Bay. Quyet is hoping that helps draw tourist crowds from South Korea, Japan and Taiwan, some … [Read more...] about Birdies on a plane: Vietnam’s Bamboo Airways banks on golf resorts for success