VN makes significant progress in sustainable finance reformsViet Nam has made significant progress in banking reforms to expand sustainable lending, says the first comprehensive Global Progress Report of the Sustainable Banking Network (SBN), released on Monday. — Photo daibieunhandan.vnSBN’s 34 member-countries, with US$42.6 trillion in bank assets accounting for over 85 per cent of total bank assets in emerging markets, have initiated sustainable finance reforms at different stages, from commitment to reforms to changing domestic banks’ lending practices. “It shows that both middle- and low-income countries can adopt sustainable finance reforms. SBN has demonstrated in a short time how much can be achieved when regulators, policymakers, trade associations and development institutions collaborate to advance sustainable finance,” he said. To further stimulate green lending, SBV has released a Green Project Catalogue that defines green sectors and plans to publish guidelines on reporting green finance flows.

Malaysian retailer Parkson closes fourth store in VNParkson, the retail arm of Malaysian conglomerate Lion Group, has closed Parkson Flemington in HCM City, after eight years of operation. Parkson Flemington is the fourth Parkson shopping centre in Viet Nam and the second in HCM City to shut shop. Parkson Flemington is the fourth Parkson shopping centre in Viet Nam and the second in HCM City to shut shop. Parkson card holders will continue to enjoy the privileges and benefits, which will be applicable to all Parkson stores, according to the company’s notice. Currently, Parkson has four stores in HCM City, including Parkson Le ThanhTon, Parkson CT Plaza, Parkson Cantavil and Parkson HungVuong.

SCIC to sell Maritime Bank’s shares second timeThe State Capital Investment Corporation (SCIC) will put up more than 2.4 million shares of Maritime Bank for a public auction on the Ha Noi Stock Exchange on March 28. This is the second attempt by SCIC to offload Maritime Bank’s shares since its failure in November 2015. This is the second attempt by SCIC to offload Maritime Bank’s shares since its failure in November 2015. Maritime Bank, founded in 1991 in the northern port city of Hai Phong, had an initial charter capital of VND40 billion. Prices of Maritime Bank’s shares on the OTC market has doubled in the past one year, from VND4,000 per share to VND8,000, owing to active divestment plans by stakeholders.

Vietnam faces risk of bird flu outbreakVietNamNet Bridge – The Department of Animal Health (DAH) under the Ministry of Agriculture and Rural Development has warned about the threat of bird flu outbreak following one A/H5N6 bird flu outbreak recorded in the past 21 days in Dai Ban Commune, An Duong District, in the northern port city of Hai Phong. Animal health workers give vaccination to poultries. Stronger management is needed to prevent bird flu from breaking out in the country. — VNA/VNS PhotoAccording to a report of the Hai Phong Animal Health Division, the disease first broke out in a farm belonging to Mai Van Tinh. After discovering the case, the Hai Phong Animal Health Division culled the remaining chickens and sprayed chemicals to sterilise the infected area.

Energy policy could prioritise small scale projectsVietNamNet Bridge – In a major shift in perspective, the Government is viewing small scale projects as the best, most sustainable way of tapping the nation’s hydropower potential. The use of wind and solar energy on the island localities help to reduce dependency on diesel, which in turn, helps cut back pollution. Currently, there are 316 hydropower projects that have been approved and included in the master plan, but work has not begun on them. The ministry is of the view that private investors have shown that they have gained experience in building small-scale hydropower projects. As per the ministry’s programme KC.05/16-20 on new energy, the top tasks for 2018 and 2019 will be research and study of application of renewable energy (including wind, biomass energy, biofuel) and other new forms of energy.

Saigon Heat lose to Singapore Slingers at ABLVietNamNet Bridge – Saigon Heat lost to Singapore Slingers 76-94 in the ASEAN Basketball League (ABL) match on February 25 in Singapore. Saigon Heat seen in the ABL match on February 25 in Singapore. Maxie Esho, Akeem Scott and Michael Williams scored important points to help Heat narrow the gap to 58-67. In this match, Scott led the way for Heat with 23 points and nine rebounds, while Esho scored 20 points. Slingers, who have been finalists in the last two ABL seasons, rank fifth, with nine wins and seven losses.

Job fears over automation and AIMinister of Industry and Trade Tran Tuan Anh said automation and AI were going to replace workers at factories in the coming ‘fourth’ industrial revolution. Minister of Industry and Trade Tran Tuan AnhDuring the conference about training highly-skilled workforce, Anh said that they must boost investment, exploit all resources effectively and gradually move from cheap labour into a more skilled force. The Ministry of Industry and Trade manages major industrial and economic zones, contributing to 70% of the country's GDP. "In the coming industrial revolution, workers with simple jobs at the factories will be replaced by robots with high artificial intelligence. According to Anh, the government must consider the impacts from various free trade agreements if Vietnam aims to be a global supplier of a skilled workforce.

Vietnam’s shrimp farming industry undergoing reshuffleVietNamNet Bridge - Hi-tech shrimp farming has become an attractive business for many investors. However, experts said to fulfill the ambitious plan on shrimp exports and to increase the value of shrimp exports, Vietnam needs to rely on processed products and hi-tech farming. Hi-tech shrimp farming will also need other conditions, including a biological farming process, ultraviolet water filtration system and supply of high-quality shrimp breeders. Tuan’s company now has 300 hectares of high-tech shrimp farming area in Bac Lieu province where shrimp is bred in glasshouses with an average yield of 120-140 tons per hectare per annum. In general, to have a 1,000 square meter pond for shrimp farming, one needs to invest VND600 million.

Thousands of workers abandoned by South Korean companyThousands of workers at KL Texwell Vina returned to work on February 26 after the Tet holiday to find that the company remained closed and their South Korean managers were still absent. However, they all required a social insurance record in the CV which workers at Texwell Vina do not have because their company still owes money to local Social Insurance Department. They also owe over VND 17.5 billion (USD750,000) in insurance payments to the provincial Social Insurance Department. Each worker received 50 per cent of their January salary that KL Texwell Vina owes. South Korean-invested KL Texwell Vina registered for investment licence in garment and textiles in December 2015 and employs more than 1,900 workers.

Hanoi calls for investment on 10 metro linesHanoi’s authorities have submitted a plan to the prime minister calling for USD40bn in ODA investment and proposals on how to implement 10 metro projects. illustrative imageIn accordance with the city transportation planning to 2030 with a view to 2050, Hanoi will have 10 metro lines that are 417.8km long and include both underground and elevated sections. The remaining Nam Thang Long-Tran Hung Dao and Nhon-Hanoi Railway Station lines are invested in by the Hanoi authorities and are under construction. Both urban railway projects need USD2.34bn and have attracted the interest of the Japanese government, ADB Bank and several investors. Hanoi People's Committee wants to have the authority to select investors for metro lines 2, 3 and 5.

SBV tells banks to up security after $11m fraudThe State Bank of Viet Nam has instructed all banks to improve safety of their money transactions after the Ministry of Public Security issued an international warrant for a fugitive bank executive for allegedly misappropriating nearly US$11 million from a customer. Oversight and rotation of staff are very important.”It said banks must immediately report to the SBV and other related authorities when they detect a fraud or security violation, it said. When Bình checked her accounts, she found VNĐ245 billion missing and reported to the Ministry of Public Security. Bình has been asking for her money back but Eximbank said it must await a verdict from the courts. “Once a court decides that Eximbank is responsible for returning the money, we will do it immediately,” the bank’s CEO, Le Van Quyet, said.

President Tran Dai Quang’s India visit to foster multi-faceted cooperationThe upcoming State visit to India by Vietnam’s President Tran Dai Quang, from March 2-4, is expected to help promote cooperation between the two countries, while deepening ties in national defence and security, said Vietnamese Ambassador to India Ton Sinh Thanh. President Tran Dai QuangThe visit will also expand bilateral collaboration in economy, investment, tourism, cultural exchange and better tap potential for cooperation in education and technology, the diplomat told a Vietnamese News Agency correspondent in India. This is the first visit to India by a Vietnamese President following the visit by then President Truong Tan Sang in 2011. The visit demonstrates the importance Vietnamese leaders have attached to India and their attention to Vietnam-India relations, Ambassador Thanh stressed. Asked about prospects for Vietnam-India cooperation following the recent India visit by PM Phuc and the upcoming visit by President Quang, Ambassador Thanh said they are bright.

Large-caps strongly support VN-IndexVietnamese shares rallied on February 26 but the uptrend weakened towards the closing minutes due to selling pressure in a number of blue-chips, especially during the ATC session. The benchmark VN-Index on the HCM Stock Exchange (HOSE) gained 1.06 percent to settle at 1114.53 points, falling from the intraday high of 1116.2 points. The UPCOM Index on the Unlisted Public Company Market (UPCoM) inched up 0.31 percent to finish at 59.74 points. Foreign investors were net sellers of 173.61 billion VND on HOSE, focused on VNM (68.9 billion VND), VCB (61.8 billion VND) and HDB (30.9 billion VND). In addition, they sold a net of 11.66 billion VND on the HNX.-VNA

VN President to pay State visits to India, BangladeshPresident Tran Dai Quang and his spouse will pay State visits to India from March 2-4 and Bangladesh from March 4-6. President Tran Dai QuangThe visits will be made at the invitation of Indian President Ram Nath Kovind and Bangladeshi President Mohammad Abdul Hamid. Vietnam and India set up their diplomatic ties on January 7, 1972. President Tran Dai Quang will pay a State visit to India from March 2-4. Vietnam and India established diplomatic ties on January 7 in 1972.

Ministry stalls shadow economy studyAfter much debate over the true nature of undocumented market transactions in Viet Nam, otherwise known as the shadow economy, officials have again postponed the release of an accredited study on the matter. Phuong went on to explain that at the moment, the MPI considers the shadow economy to consist of five components, divided into illegal transactions and undocumented ones. The second component is illegal and prohibited economic activities, such as drug trafficking, human trafficking or prostitution. The fifth component is economic activities that are simply omitted from official data due to missing information from the survey data collection process. He argued that underground economy should not be included in GDP to increase the size of the economy.