Illustrative photo (Source: vneconomy.vn) Hanoi (VNA) – Enterprises are gradually switching to an electronic documentation system , underpinning the nation’s efforts to develop the digital economy . A survey conducted by the Ministry of Industry and Trade in 2021 revealed that at least 33% of the surveyed businesses use e-contracts in their commercial activities. The application not only helps firms and their customers be more efficient, but also contributes to reducing the impact of the COVID-19 pandemic and the gap in commercial transactions. The Bkav DX Platform has hosted e-contracts for more than 3 years. As a result, it helped companies save 70% of printing and delivery costs annually and shortened the process of providing products to customers by 50%. A representative of FPT Information System Company said that in Vietnam, the concept of e-contracts is no longer new. On the FPT.eContract – a signing platform between businesses and individuals – there are more … [Read more...] about Electronic documentation system fundamental to digital economy
Axis bank track
Ascend Vietnam Ventures surpasses $50 million target
Binh Tran and Eddie Thai, co-founders & general partners of Ascend Vietnam Ventures Binh Tran and Eddie Thai, co-founders & general partners of Ascend Vietnam Ventures, have been investing together in Vietnam since 2015 and have backed home-grown international successes such as NFT gaming unicorn Axie Infinity, AI-driven edtech ELSA, and financial inclusion fintech Trusting Social. With AVV Alpha, the team has increased their investments in startups in Vietnam, seeding up to $2 million into 25 startups by next year and following on with checks of up to $5 million. “The likes of Axie Infinity, ELSA, and Trusting Social are by no means isolated successes,” said Binh Tran. “Vietnam’s dynamism, accessibility, low cost of living, as well as abundant quality engineering talent attract many founders. On top of that, many tech solutions built here can address similar challenges and customer behaviours in other emerging markets worldwide. Vietnam will continue to be seen as … [Read more...] about Ascend Vietnam Ventures surpasses $50 million target
Hà Nội’s transport department proposes more vehicles using the exclusive BRT lane
Hà Nội's first rapid bus route, Kim Mã-Yên Nghĩa, started construction in early 2013 and entered operation at the end of 2016. — VNA/VNS Photo HÀ NỘI — Hà Nội's Department of Transport has proposed the municipal People's Committee to allow passenger cars with 24 seats or more, official vehicles, ambulances and fire trucks to use Bus Rapid Transit (BRT) lanes in the capital. This is part of the measures that the department proposed on Thursday in a report on traffic adjustment to solve congestion on some roads. According to the department, despite the BRT bus route being a radial axis, its operational efficiency is reduced, while the high volume of vehicles, especially during peak hours, causes congestion. Allowing other vehicles to enter the BRT lane is expected to reduce congestion and increase the efficiency of traffic infrastructure. Hà Nội's first rapid bus route, Kim Mã-Yên Nghĩa, started construction in early 2013, and began operations at the end of 2016. The bus route … [Read more...] about Hà Nội’s transport department proposes more vehicles using the exclusive BRT lane
SBV to tighten lending with stricter standards
The State Bank of Vietnam (SBV) is mulling over stricter lending regulations, especially to finance purchases of properties and stocks, according to inside sources. A new apartment complex in District 4, HCM City. VNA/VNS Photo Banking regulators have sounded the alarm over a significant amount of personal loans being used to finance properties and stock purchases, which posed a serious risk to the country's financial system in the event of market upheaval. In order to stabilise the system and reduce risk, the SBV is to introduce a number of regulations to tighten the entire process from determining eligibility, conditions, use of funds and repayment plans. Personal loans intended for the financing of properties and stock purchases and other large loans will also face greater scrutiny. It was believed that the SBV was to prohibit or limit the ability of commercial banks and financial institutes to grant capital contribution loans or loans to … [Read more...] about SBV to tighten lending with stricter standards
Ailing oceans in the spotlight at major UN meet
A long-delayed UN conference on how to restore the faltering health of global oceans kicks off in Lisbon Monday, with thousands of policymakers, experts and advocates on the case. Humanity needs healthy oceans. They generate 50 percent of the oxygen we breathe and provide essential protein and nutrients to billions of people every day. Covering more than two-thirds of Earth's surface, the seven seas have also softened the impact of climate change for life on land. But at a terrible cost. Absorbing around a quarter of CO2 pollution -- even as emissions increased by half over the last 60 years -- has turned sea water acidic, threatening aquatic food chains and the ocean's capacity to pull down carbon. And soaking up more than 90 percent of the excess heat from global warming has spawned massive marine heatwaves that are killing off precious coral reefs and expanding dead zones bereft of oxygen. "We have only begun to understand the extent to which climate change is going to … [Read more...] about Ailing oceans in the spotlight at major UN meet
Vietnam-UK target US$10-billion trade turnover by 2023
UK trade minister Anne-Marie Trevelyan said the country wants to be a part of Vietnam’s development story in the 21st century, and fostering bilateral trade relations is among its priorities. Vietnam and the UK should set a trade turnover target of over US$10 billion by 2023, which would be a meaningful step to mark the 50 th anniversary of Vietnam-UK diplomatic relations next year. Chairman of the National Assembly Vuong Dinh Hue (mid) at the forum. Source: VNA Deputy Prime Minister Le Van Thanh gave the remarks at the Vietnam-UK High-level Forum on Economy and Trade held on June 29. The event is one of the highlights of a visit to the UK by the high-ranking delegation from the National Assembly of Vietnam led by Chairman Vuong Dinh Hue from June 28-30. According to Thanh, the Vietnam-UK strategic partnership has progressed strongly over the years and contributed to socio-economic development in each country. Thanh expected the partnership would … [Read more...] about Vietnam-UK target US$10-billion trade turnover by 2023