Bank track and trace

Vietnam has seen rapid growth in e-commerce in recent years, and demand for logistics services is growing commensurately. (Photo courtesy of J&T Express) HCM City (VNS/VNA) - The rapid growth in e-commerce is driving an unprecedented increase in demand for logistics services, including express delivery services, according to industry insiders. In its E-commerce White Book 2021, the Vietnam E-Commerce and Digital Economy Agency said Vietnam has the highest number of people shopping on e-commerce platforms in the Southeast Asia region at some 49.3 million. In the last two years, the country has seen both consumers and firms moving online, it said. Nguyen Ngoc Dung, president of the Vietnam E-commerce Association, said there has been a boom in e-commerce since the pandemic began. More than 70% of the population have access to the internet and nearly 50% shop online, he said. The online shopping boom has offered opportunities as well as challenges to the logistics … [Read more...] about Explosive e-commerce growth drives demand for logistics

Utop – an app for online shopping using blockchain technology by FPT Group. (Photo: SGGP) CEO of Vietnam Blockchain JSC. Do Van Long commented that owing to negative incidents of digital currency, many people tend to think that blockchain is merely digital currency, which is extremely mistaken. In fact, this advanced technology can be used to create digital property or to upgrade existing information management systems to gain a higher level of security and transparency. Technology Director of FPT Group Vu Anh Tu also stated that besides the popular use of blockchain in digital currency, it can effectively boost innovative technological startups thanks to its wide applications. Statistics from Vietnam Blockchain Association reveal that among 200-top successful blockchain enterprise in the world, 7 were founded by Vietnamese people. Vietnam is one of five leading countries in this technology. At present, about 10 Vietnamese innovative startups in the blockchain field have the … [Read more...] about Vietnam to actively apply blockchain technology in various fields

Pre-processing bananas at La Phìn farm (Gia Lai) for export to China. — Photo sggp.org.vn CENTRAL HIGHLANDS — Tây Nguyên (Central Highlands) agricultural exports have grown as the region meets international export standards and invests in high-tech packaging facilities. For the past two years, many agricultural exporters in the Tây Nguyên (Central Highlands) region, which consist of the provinces of Kom Tun, Gai Lai, Đắk Lắk, Đắk Nông and Lâm Đồng, have worked with local authorities to establish codes that meet international standards and advanced packaging facilities. Trần Xuân Khải, director of the Gia Lai Province's Sub-department of Crop Production and Plant Protection, said that these methods had brought multiple benefits for businesses. Fifty five farming codes and 21 packaging facilities for fruits such as mango, dragon fruit and banana have helped them qualify for exporting to China, Australia, New Zealand and the US. In some facilities, drip irrigation … [Read more...] about Higher standards help boost Central Highlands agricultural exports

Vietnam urged to upgrade to attract big rubber funding, photo Duc Thanh As international purchasers increasingly demand products that adhere to strict ethical, legal, and environmental standards, analysts and foreign buyers, including those from the United States and Germany, warn that a lag in production is likely to jeopardise Vietnam’s rubber sector. Vietnam has the fifth-largest rubber cultivation area in the world with almost 940,000 hectares. However, the country ranks third globally for its output, producing some 1.26 million tonnes in 2020, according to a report by the Vietnam Rubber Association. According to the same report, exports of natural rubber products (rubber blocks and concentrated latex), rubber products (tyres, medical supplies, and shoe soles), as well as rubber timber, have increased dramatically from $2.9 billion in 2015 to approximately $9.5 billion in 2021. According to Jeff Martin, CEO of Yulex – a global company headquartered in the US, … [Read more...] about Vietnam urged to upgrade to attract big rubber funding

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

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