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Illustrative photo. More than half of the Central Banks named in the survey are in the development or pilot stage, and about two-thirds of these Central Banks say they would issue a retail CBDC in the short or medium term. Many Central Banks are now developing CBDC ecosystems with the coordination of the private sector and existing payment methods. Central Banks want CBDC Basically, there are two CBDC models, including one tier where the Central Bank not only operates the interbank CBDC system but also provides direct CBDC wallet and account services to the public. At two tier, the Central Bank and private sector intermediaries work together, with 70% of the Central Bank developing the two-tier model because this model ensures the effectiveness of providing services such as customer access, identification process, anti-money laundering, anti-terrorist financing (AML/CFT), and handling retail payments to the private sector. The motivation for CBDC development is also … [Read more...] about Implications of Central Bank Digital Currency in Vietnam

A small square in the 16th arrondissement of Paris has been named after Vietnamese pilot Do Huu Vi, one of the first pilots in the French military, who died at age 33 in a combat in France during World War I (1914-1918). The naming was conducted at a ceremony held in the 16th arrondissement on Wednesday last week in the presence of Paris Deputy Mayor Laurence Patrice, Mayor of the 16th arrondissement of Paris Francis Szpiner, representatives of the Vietnamese Embassy in France, and relatives of Do Huu Vi, along with local authorities and residents. Do Huu Vi Square is located on the intersection between Versailles Avenue and Quai Louis-Blériot, overlooking the Radio France headquarters and Grenelle bridge. Vi, born in 1883 in Saigon (now Ho Chi Minh City), fought and died on July 9, 1916, in World War I, when he, a captain, led his company to attack a fort of German troops in Somme Bay in northern France. In the archives kept at the French Military Museum, there is a note … [Read more...] about Square in Paris named after Vietnamese pilot Do Huu Vi

Three major cities of Vietnam are distinguished with the annual prestigious awards of Travel & Leisure. The United States-based magazine Travel & Leisure has recently unveiled its 2022 Asia’s Best Awards with suggestions about the best travel destinations around the world. Accordingly, Hanoi, Danang, and Ho Chi Minh City are among the Top Ten “Best Cities in Southeast Asia” Hanoi- the thousand-year-old charming city President Ho Chi Minh Mausoleum in Hanoi. Photo: Cao Anh Tuan Ranked fifth on the list of Travel & Leisure , the charming capital city of Vietnam- Hanoi is a must-see travel destination for foreign travelers to the country. The fact is that the city is very peaceful and very welcoming to foreigners. It has a low crime rate, great tropical weather, and is easy to balance work life and fun, according to Bill Noland, an Aussie digital nomad in Hanoi. “It takes me around VND10 million or $428 for a convenient accommodation … [Read more...] about Hanoi among Top 10 cities in Southeast Asia

The exchange between Chinese Vice Premier Liu He and US Treasury Secretary Janet Yellen came as President Joe Biden considers lifting some tariffs on imports from China to try and ease soaring inflation. The world's two biggest economies are also grappling with Covid-snarled supply chains and rising global energy prices. "The two sides agree that as the world economy is facing severe challenges, it is of great significance to strengthen macro-policy communication and coordination between China and the United States," China's official Xinhua news agency reported. "And jointly maintaining the stability of the global industrial and supply chains is in the interests of both countries and the whole world." The Xinhua report said the video call took place at the request of the United States, and described the conversation as "constructive". Yellen and Liu "discussed macroeconomic and financial developments in the United States and China, the global economic outlook amid rising … [Read more...] about US, China discuss ‘severe’ economic challenges, supply chains

Charles Kaye - CEO, Warburg Pincus Last month, I had the opportunity to sit down with Prime Minister Pham Minh Chinh in New York City after his visit with President Biden in Washington. After the prime minister explained his economic priorities, he asked me a simple question, one that I had not heard so succinctly put by a head of government before. What attributes do you look for in a country considering investing in? I improvised an answer at the time, but the framework of my response captured the critical ingredients we look for – an entrepreneurial spirit, stable macroeconomic conditions, solid infrastructure – both hard and soft, and government policymakers with a practical mindset and commitment to dialogue with business and investors. As Vietnam evolves to meet each of these challenges, it is poised for a significant transformation that will cement its reputation as an economic model for other nations in the region and around the world. First and foremost, we seek … [Read more...] about Appreciating efforts to attract more overseas capital

Businesses are discovering new ways to separate, contain, and re-use the waste they produce, Le Toan SCG Packaging (SCGP) under Thai industrial conglomerate SCG impressed at last week’s exhibition on the circular economy in Vietnam with a number of environmentally-friendly products, one of which was paper beds. These beds, easily installed and transported, are made entirely of recycled paper and have been provided for many hospitals in Vietnam in recent times. “This is one of the products demonstrating the responsibility of SCG in the role of a citizen enterprise. We stand ready to bring innovative solutions to Vietnam to help authorised agencies and people,” said Sompob Witworrasakul, general director of Vina Kraft Paper Co., Ltd., a member of SCGP. Over past years, SGC has also applied high technology to its cement production. Its cement products are energy-saving, with technology helping reduce greenhouse gas emissions by about 115,000 tonnes a year. Additionally, the … [Read more...] about Sustainable products stimulating business