The State Bank of Vietnam (SBV) has revised up the credit growth target for the domestic banking system by 1.5-2 percentage points from its previous target of 14 percent, allowing it to pump an additional VND200 trillion (US$8.4 billion) into the local economy. According to a report by SSI Securities Corporation, the SBV’s expansion of the credit growth cap to 15.5-16 percent raises the country’s total credit for this month to VND400 billion ($16.7 million). According to experts, the revision will help businesses, and the economy as a whole, amidst a soaring thirst for capital. The central bank has yet to announce exactly which banks will be eligible to increase their credit limits. As of the end of October, Vietnam’s credit growth sat at 11.5 percent, allowing for just 2.5 percent credit growth for the final two months of the year – a modest amount given the massive demand. In response to the announcement, the director of a company in Binh Tan District, Ho Chi Minh City … [Read more...] about Vietnam’s central bank raises credit growth cap, pumps $8.4bn into economy
Baby growth in womb month by month
Pham Ba Oai, Director of the Thanh Hoa Province Department of Industry and Trade, said that in the first nine months of 2022, the province’s industry prospered, with its index of industrial production (IIP) growing 16.2 percent over the same period last year, and most manufacturing industries increasing contributions to the province’s gross regional domestic product (GRDP). Notably, province-based manufacturers have created intensively processed products using high technology and adding high value, while many large-scale projects have been put into stable production. Testing an industry promotion project Oai said industry promotion projects helped rural industrial establishments apply advanced technology and equipment, improve productivity and product quality, reduce employment and product costs, use raw materials efficiently, and minimize environmental pollution. Thanh Hoa is currently focusing on trade promotion, market research, and construction of advanced … [Read more...] about Thanh Hoa Province boosts industrial growth
To celebrate its 10 th anniversary, multi-category platform for secondhand in Greater Southeast Asia Carousell Group released the Carousell Recommerce Index (10 th Anniversary Edition), revealing the sustainability impact its collective community has made buying and selling secondhand items. Launched in Vietnam in 2013, Cho Tot is the leading Re-commerce platform in Vietnam with more than 10 million monthly users buying and selling in 60 categories Re-commerce refers to the selling and buying of previously-owned products, including both new and used in condition. The report covers data from nine of Carousell Group's brands across Southeast Asia, Hong Kong and Taiwan markets — Carousell, Cho Tot, Laku6, Mudah.my, OneKyat, One Shift, Ox Luxe, Ox Street, and Refash. Since its inception in 2012 as a mobile-first app to make selling and buying underutilised items easier, Carousell has grown from a C2C classifieds marketplace into a multi-category platform for secondhand … [Read more...] about Carousell Group and Cho Tot reveals impact of secondhand market
The programme is part of the global healthcare company’s commitment to further its global sustainability priority of innovating for access and affordability in health. Abbott’s announcement of the India project took place on Nov 23, just two weeks after the US healthcare company had risen for the first time in Vietnam to lead the list of Top 100 “Vietnam - Best Place to Work 2022”, an award to honour its diverse and innovative working environment. The latest commitment to the India project, its award in Vietnam, where Abbott has been operating for nearly three decades, along with the company’s technology breakthroughs and products, are all dedicated to cracking healthcare challenges, thereby serving people in more than 160 countries to lead healthier, better lives. “Physical and mental health is the foundation for peaceful, sustainable societies,” UN Secretary-General António Guterres told the World Health Summit in October, adding that all people need inclusive, impartial and … [Read more...] about Abbott leads healthcare transformation for sustainability
Infographic by HSBC Since the advent of US-China trade tensions, Viet Nam has been one of the biggest beneficiaries in terms of both trade and FDI diversion, boosting its export share in the US market in particular. As a result, Viet Nam has become increasingly vulnerable to a US economic slowdown. In its recent 'Vietnam at a glance' report, HSBC said Viet Nam has been hit hard by a global trade slowdown, seeing the first meaningful year-on-year decline in its exports in two years. In particular, the decline has been led by an economic slowdown in the US, Viet Nam’s largest export destination. After over two years of booming trade, the “pay-back” time has come. Global orders have been falling sharply, taking a toll on Asian exporters. Viet Nam is no exception, and it has been on the front line in terms of feeling the pain. In November, the country saw the first meaningful year-on-year decline in its exports in two years, with broad-based weakness. In particular, shipments of … [Read more...] about HSBC: Is an export winter approaching?
Plant lovers across Vietnam are creating their own miniature gardens, allowing them to relieve stress and connect with nature. A terrarium is typically a sealable glass container with soil and plants inside. They are created in such a way that the glass container essentially houses its own ecosystem. Dang Van Thanh, a 25-year-old resident of Linh Trung Ward, Thu Duc City, Ho Chi Minh City, recently finished his first homemade terrarium after spending a month following tutorials from the internet. An ecosystem in your palm Thanh’s terrarium is 15 centimeters long, 15 centimeters wide, and 20 centimeters tall. Inside sits a replica Japanese pagoda tucked away against a miniature rocky cliff. At the entrance to the pagoda is a torii – a Japanese style gate – that Thanh hand-carved from small wooden planks. A terrarium is often a self-sustaining ecosystem. The roof of the pagoda was made using plastic and stone powder. The path leading to the pagoda is lined … [Read more...] about Terrariums a growing trend among Vietnamese nature lovers