Banking industry forecasts better prospects in 2024
The banking industry has experienced a difficult period in 2023 due to global and domestic headwinds. Banking industry business performance this year has faced challenges due to the global and domestic uncertainties. Can the banking industry meet the SBV’s 14 per cent credit growth target set early this year? However, this low credit growth rate is in line with Việt Nam’s GDP growth rate this year. Can you forecast the outlook of the banking industry in 2024?
Source:Viet Nam News
December 21, 2023 07:39 UTC
VIETNAM NEWS HEADLINES DECEMBER 21/2023
In Africa, Vietnam has set up diplomatic ties with 54 out of 55 countries and will soon establish diplomatic relations with Malawi. He said he believes that in the coming time, Vietnam will make greater contributions to Agenda 2063 for peace and security in Africa, contributing to strengthening all-round cooperation between Vietnam and Africa. Leaders of the two countries agreed to accelerate official development assistance (ODA) projects, and strengthen cooperation activities in Vietnam, according to the official. It is held within the framework of a working trip to Japan by Vietnam Coast Guard delegation from December 19-22. From 2022 to September 2023, the Ham Luong border guard post advised the Ben Tre Border Guard High Command to apply administrative fines on six fishing boat captains and seven boat owners with a total fine of nearly 6.5 billion VND (267,027 USD).
Source:Viet Nam News
December 21, 2023 07:10 UTC
☀️ Morning digest December 21
Read full story - President of the Vietnam Fatherland Front (VFF) Central Committee Do Van Chien on December 20 visited the Hanoi Archdiocese and Evangelical Church of Vietnam (North) on the occasion of the upcoming Christmas and New Year.At the Hanoi Archdiocese, Chien wished Archbishop Giuse Vu Van Thien, Catholic dignitaries and followers a merry Christmas. Read full story - Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai pointed to great cooperation opportunities for businesses from Japan, particularly Hyogo prefecture, during a reception for its Governor Saito Motohiko on December 20.Mai noted his belief that Saito’s visit, which takes place after Vietnam and Japan elevated their relationship to a Comprehensive Strategic Partnership for Peace and Prosperity in Asia and the World, will open up more substantive, effective cooperation opportunities for the two localities. Read full story - Vice Chairman of the Ho Chi Minh City People’s Council Pham Thanh Kien had a meeting with Chairman of the Republic of Korea (RoK)’s Seoul Metropolitan Council Kim Hyeon-ki in Ho Chi Minh City on December 20.At the event, Kien highlighted that the Seoul delegation’s visit will open up new cooperation opportunities between the people’s councils of both localities, adding the legislative bodies of the Vietnamese southern economic hub and the RoK's localities hold huge collaboration potential. Read full story - The increasing demand for fresh food and e-commerce is serving as the main driving force of the domestic cold storage market - a niche segment of logistics to boom in the coming time.According to Savills Vietnam, the first commercial cold storage in Vietnam was built in 1996 by Konoike VinaTrans, a logistics joint venture between Konoike Transport Co. Ltd of Japan and three Vietnamese companies. Read full story ./.
Source:Viet Nam News
December 21, 2023 02:20 UTC
Hanoi - World’s leading city break destination 2023
Hanoi welcomed 22.6 million tourists in the first 11 months of 2023, an increase of 32.4 per cent year on year. Among the arrivals, international tourists accounted for 4.1 million, three times higher compared to the same period in 2022. (Photo: VNA)
Source:Viet Nam News
December 21, 2023 00:56 UTC
VIETNAM NEWS HEADLINES DECEMBER 20/2023
Along with investment promotion activities for tourism development, Binh Dinh will call on investors and mobilise resources to continue perfecting technical infrastructure to support tourism development in the locality. 40 chefs show off skills at Da Nang culinary competition Fourty chefs from hotels, supermarkets and restaurants in the central city of Da Nang took part in the Da Nang Chef Talent Competition 2023 on December 19. The event was jointly organised by the municipal federation of labour, Da Nang Hotel Association and the Da Nang Culinary Culture Association, Furama Resort Da Nang, and the USA Poultry and Egg Export Council (USAPEEC). 40 chefs show off skills at Da Nang culinary competition Fourty chefs from hotels, supermarkets and restaurants in the central city of Da Nang took part in the Da Nang Chef Talent Competition 2023 on December 19. The event was jointly organised by the municipal federation of labour, Da Nang Hotel Association and the Da Nang Culinary Culture Association, Furama Resort Da Nang, and the USA Poultry and Egg Export Council (USAPEEC).
Source:Viet Nam News
December 20, 2023 23:29 UTC
Proposal on minimum wage to be submitted for Government approval
Illustrative image (Photo: VNA)Participants at the meeting (Photo: VNA)After two negotiation sessions, the National Salary Council on December 20 reached a consensus to finalise the proposal to increase the regional minimum wage by 6% starting from July 1, 2024, to submit for Government for approval.In the meeting on the same day morning, representatives from union organisations proposed an increase of between 6.5 - 7.3%, while those from employers suggested maintaining an increase between 4 - 5%.If the proposal is approved, the minimum wage for Regions I, II, III and IV will respectively rise by 280,000 VND (nearly 11.5 USD), 250,000 VND, 220,000 VND, and 200,000 VND to 4.96 million VND, 4.41 million VND, 3.86 million VND, and 3.45 million VND.The hourly minimum wage will also increase by 6% starting from the same date, with the highest increase level for Region I at 23,800 VND per hour.Regionally-based monthly minimum wages vary between four different regions based on four separate benchmarks determined by living standards in each area.Region 1 covers urban Hanoi and HCM City; Region 2 covers rural Hanoi and HCM City along with Can Tho, Da Nang and Hai Phong cities; Region 3 applies to cities and districts of Bac Ninh, Bac Giang, Hai Duong, and Vinh Phuc provinces; and Region 4 encompasses the remaining localities./.
Source:Viet Nam News
December 20, 2023 21:38 UTC
Vietnam among countries with high economic growth in 10 years
A factory in the Du Long Industrial Park in Thuan Bac district, Ninh Thuan province (Photo: VNA)The rice warehouse of the Duong Vu Co. Ltd in Binh Thanh commune of Thu Thua district, Long An province (Photo: VNA)– Vietnam, together with China and some other Asian countries, is among the 20 countries with the fastest economic growth over the last 10 years, according to Yahoo Finance.In its recent article, the market news website sourced data from the International Monetary Fund ( IMF ), considering the growth in real GDP for all countries over the last 10 years to average the real GDP growth rates.It said that with an average real GDP growth rate of 6.1% during 2012 - 2022, Vietnam ranks among those with high economic growth. The agricultural sector highly supports the economy by contributing to the GDP as well as employment.Vietnam’s agro-forestry-fishery exports reached 53.22 billion USD for the first time in 2022, up 9.3% from the previous year. As a result, its agricultural sector posted a trade surplus of 8.5 billion USD, accounting for over 75% of the economy’s total trade surplus.The article also cited Vietnam’s statistics as showing that the US remains the biggest market of Vietnamese agro-forestry-fishery products, with an import turnover of 13.3 billion USD, equivalent to 25% of the total exports of those products. It is followed by China with more than 10 billion USD (18.9%), Japan 4.2 billion USD (7.9%), and the Republic of Korea 2.5 billion USD (4.7%).In terms of continents, Asia made up 44.7% of the exports, the Americas 27.4%, Europe 11.3%, Oceania 1.7%, and Africa 1.7%.The five countries with the highest economic growth rates in 10 years is Guyana (South America) nearly 15%, Ireland (Europe) over 9%, Ethiopia (Africa) 8.43%, Tajikistan (Central Asia) over 7%, and Côte d’Ivoire (West Africa) over 6.8%, according to the writing./.
Source:Viet Nam News
December 20, 2023 14:43 UTC
Lending rate forecast to be cut by 1-1.5pp in 2024
At the same time, keeping a low deposit interest rate for a long time is also a necessary condition to pull the lending interest rate down. However, lending interest rate is still about 1.6 percentage points higher than the bottom recorded in the fourth quarter of 2021. Specifically, after the State Bank of Vietnam (SBV) lowered its policy interest rates four times, deposit interest rates decreased rapidly. Actual lending interest rate has also gone down by about 2-2.5 percentage points for new loans. VCBS expects the lending interest rate will decrease by another 1-1.5 percentage points in 2024.
Source:Viet Nam News
December 20, 2023 14:38 UTC
CALLING FOR EXPRESSION OF INTEREST
On behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), GIZ is implementing the Sector Program (SP) Social and Ecological Transformation of Textile Supply Chains. The SP aims to raise awareness and recognition of sustainable textiles among consumers. Within these three subdivisions, various projects are developed and implemented to achieve the goals of the SP Social and Ecological Transformation of Textile Supply Chains. Please send email to Question-from-bidder-PoS-VN@giz.de by 28.12.2023 to receive tender documents. Request of tender documents to be sent to Question-from-bidder-PoS-VN@giz.de by 28.12.20232.
Source:Viet Nam News
December 20, 2023 14:24 UTC
Doctor inspiring Thalassemia patients to live on
This rare and horrendous condition can be identified early through screening tests, detecting the disease gene in pre-marital and prenatal stages, she said. However, not everyone is as fortunate, and tens of thousands of individuals with the thalassemia gene have married others with the same gene. This is a disservice to the future of unfortunate children carrying the disease gene. Ethnic minority populations in the province, as beneficiaries, not only receive 70 per cent support for thalassemia gene screening tests, but also gain awareness and guidance on thalassemia prevention, and continuous monitoring and counselling if carries the gene. According to Hiền, thalassemia is a challenging disease to cure but not to prevent.
Source:Viet Nam News
December 20, 2023 03:34 UTC
Indonesia’s rice assistance programme to benefit 22 million families
The figure was then updated by the Coordinating Ministry for Human Development and Culture for the assistance programme in 2024. The rice assistance is sourced from the government rice reserves (CBP), and each beneficiary receives 10 kg of rice each month. Speaking at a media discussion event last week, Wijaya said that if the state budget is sufficient, the rice assistance programme can be realised until the next six months. The rice stock of 1.4 million tonnes will also be used for rice assistance distribution that will last until next year to maintain price stability in the community. Throughout 2023, Bulog has distributed 1.4 million tonnes of rice under the rice assistance programme./.
Source:Viet Nam News
December 20, 2023 00:02 UTC
Winners of ‘Happy Vietnam’ photo, video contest awarded
Bui Cuong Quyet (centre), a reporter of the Vietnam News Agency, is granted the first prize for his photo titled “Bay len Viet Nam” at the award ceremony on December 19. (Photo: VNA)“Bay len Viet Nam” (Flying high, Vietnam) is the first-prize winning photo of the “Happy Vietnam 2023” competition. General Director of the Vietnam News Agency Vu Viet Trang (R) and Chairwoman of the Vietnam Association of Photographic Artists Tran Thi Thu Dong visit an exhibition of entries to the competition on December 19. (Photo: VNA)– Winners of the “ Happy Vietnam 2023” photo and video competition were honoured at a ceremony held in Hanoi on December 19.The competition, which focused on human rights in Vietnam, was held online on https://vietnam.vn , a platform for popularising Vietnam’s images, by the Authority of Foreign Information Service under the Ministry of Information and Communications It attracted more than 7,000 entries from both Vietnam and other countries after four months, from June 15 to October 15.The best 28 were awarded, including one first prize, one second prize, one third prize, and 10 consolation prizes for the photo and video categories each. The most voted entries of the categories were also honoured.The photo winning the first prize is “Bay len Viet Nam” (Flying high, Vietnam) by Bui Cuong Quyet, a reporter of the Vietnam News Agency.
Source:Viet Nam News
December 19, 2023 15:38 UTC
Vietnam should extend economic support programme to 2024: WB
Business Binh Dinh - bright spot in attracting investment The central province of Binh Dinh has become a bright spot in attracting domestic and foreign investors thanks to a transparent investment policy. Videos Retailers anticipate business to pick up in year-end shopping season Retailers in Vietnam are increasing inventory and have launched promotions in anticipation of opportunities in the year-end shopping season, as there are just two months left until the Lunar New Year (Tet) – the biggest festival in a year of Vietnamese people. Videos Rice exports expected to hit 5 billion USD this year Rice export volume and value during the first 11 months surpassed the figures of the entire 2022, and this year’s revenue is expected to reach 5 billion USD. Business Minister hosts UAE firm seeking business opportunities in Vietnam Minister of Industry and Trade Nguyen Hong Dien had a working session with leaders of Sirius International Holding of the UAE in Hanoi on December 19 to discuss business and investment cooperation opportunities in Vietnam.
Source:Viet Nam News
December 19, 2023 09:51 UTC
Symposium discusses future of semiconductor industry
By Thanh HảiHÀ NỘI — Future of the global semiconductor industry was the main topic of discussion at a symposium, entitled “Semiconductors Unleashed: The Backbone of Modern Innovation,” on December 18. The international forum brought together many leading scientists and domestic researchers to connect and discuss the future of the booming global semiconductor industry. The semiconductor industry is also considered a core part of the technological competition between great powers in the 21st century. Currently, according to Prof. Low, around the world, there is a race to reduce the size of semiconductor chips. The microelectronics and semiconductor industry currently contributes 9 per cent of Singapore's GDP and 42 per cent of total manufacturing outputs.
Source:Viet Nam News
December 19, 2023 09:23 UTC
Culture contributes to creating Vietnam’s strong tourism brand
According to the Vietnam National Authority of Tourism, Vietnam’s cultural tourism products have an important role to play in creating a national brand, improving its competitiveness, and attracting international tourists who want to learn about the country, people, history, and culture of Vietnam. New types of cultural tourism products are being promoted such as performing arts, music festivals, cinema, fashion, and contemporary performing arts. The authority also said developing cultural tourism in Vietnam still faces challenges such as fierce competition in destinations, tourism products and services, insufficient legal framework, limited promotion, and a shortage of human resources. As suggested by insiders, developing the cultural industry must be associated with cultural and smart tourism. Also, the tourism industry is recommended to strengthen the application of information technology, and digital technology in building and promoting certain products for specific markets./.
Source:Viet Nam News
December 19, 2023 08:01 UTC