Banks upskilling staff for digital transformation

Pandemic-hit HCM City looks to sustain growth momentum this year Ho Chi Minh City, the biggest economic hub in southern Vietnam, aims to sustain growth momentum in the remaining months of 2021 even when it is battling the worst-ever COVID-19 resurgence which began in late May. Data from the municipal Statistics Office, the city’s Gross Regional Domestic Product (GRDP) grew 5.46 percent year-on-year in the first half of this year. Total retail sales of goods and services reached about 542 trillion VND (23.5 billion USD), up 7.3 percent year-on-year. Budget revenue exceeded 198.56 trillion VND, up 20.7 percent and representing 55.7 percent of the yearly plan. Its Industrial Production Index (IIP) picked up 5.9 percent during the period, with growth seen in all four key industries – food and beverage (1.2 percent), pharmaceutical chemistry (2.6 percent), electronics (15.6 percent), and mechanical engineering (10.7 percent). This year, HCM City sets to achieve … [Read more...] about VIETNAM BUSINESS NEWS JULY 25

The startup uses 3D scanner, 360 camera and drones to take pictures of showroom space, buildings and factories and then converts the data from physical to digital form. StarGlobal 3D is one of the technology startups leaving an impression on the Shark Tank TV Show. It specializes in providing 3D/360 digital solutions. Previously, to create a 1:1 digital copy of any existing object or construction work, people used 3D Scanning laser technology. The technology showed the outstanding superiority over traditional measurement methods. However, the weak point of 3D Scanning technology is that the data collected from the scanning is a big capacity, up to Terabytes. In order to use the technology, they need computers with very strong configuration and use specialized complicated software which needs to be operated by well trained officers. Realizing that problem, Tran Duy Hao, the founder and executive of StarGlobal 3D and co-workers have built a solution that converts the heavy 3D … [Read more...] about StarGlobal 3D digital solution as good as Google’s Street View

The headquarters of the State Bank of Viet Nam. The Office of the US Trade Representative will not take any tariff action against Viet Nam. — VNA/VNS Photo Tran Viet The Office of the US Trade Representative (USTR) on Friday issued a formal determination in the Viet Nam Currency Section 301 investigation, under which the agency will not take any tariff action against Viet Nam. A statement by the USTR said the move reflects the agreement reached earlier this week between the US Department of the Treasury and the State Bank of Viet Nam (SBV). The determination finds that the agreement between the US Department of the Treasury and SBV provides a satisfactory resolution of the matter subject to investigation and that no trade action is warranted at this time. The USTR, in co-ordination with the US Department of the Treasury, will monitor Viet Nam’s implementation going forward, it said. US Trade Representative Katherine Tai commended Viet Nam for its commitment to addressing the … [Read more...] about US removes tariff threats against Viet Nam

MB Group - a generous benefactor during pandemic By Van Ly MB Group vice chairman and general director Luu Trung Thai presents VND10 billion to a representative of the Hanoi government - PHOTOS: MB GROUP As the Covid-19 pandemic has been hitting many parts of the country, many enterprises have stepped up their corporate social responsibility (CSR) activities to give a helping hand to the community. MB Group is not an outsider to the trend, making significant contributions to the country’s fight against the pandemic. Donating VND40 billion to buy Covid-19 vaccines Contributing to the Hanoi government’s Covid-19 vaccination program, Military Commercial Joint Stock Bank (MB), an arm of MB Group, on June 19 donated VND10 billion to help the city combat the pandemic. At the program “Hanoi joins hands to combat the Covid-19 pandemic,” jointly held by the municipal government and the Vietnam Fatherland Front Committee of Hanoi, MB Group vice chairman and general … [Read more...] about MB Group – a generous benefactor during pandemic

New Covid-19 infections ease a little, with 3552 more cases The Saigon Times Residents in Hanoi’s Bac Tu Liem District wait for their turns to make health declarations and take Covid-19 rapid tests. The Ministry of Health announced 3,552 more Covid-19 cases this evening, July 25, with all of them being domestic infections – PHOTO: VNA HCMC – The Ministry of Health announced 3,552 more Covid-19 cases this evening, July 25, sending the day's spike to 7,525 cases, a fall of 1,700 compared to the previous day. The new cases were all domestic infections reported in 31 provinces and cities nationwide, including 594 cases whose source of transmission remained unknown. HCMC as usual took the lead in the case number, at 2,227 cases. The neighboring province of Binh Duong came second with 368 cases, followed by Tay Ninh with 186 cases, Ba Ria-Vung Tau with 126 cases, Dong Nai with 119 cases. Meanwhile, 26 other provinces and cities accounted for the rest. Overall, the … [Read more...] about New Covid-19 infections ease a little, with 3552 more cases

Conserving the people’s resources advisable By Phan Minh Ngoc The results and effectiveness of government support for the people and businesses should be verified - PHOTO: UYEN VIEN The General Department of Taxation has recently announced the collection of key taxes— such as corporate income tax, luxury tax, value-added tax, and, especially, personal income tax—has all exceeded estimates and targets, being considerably higher than in the same period last year. This news emerged when the pandemic is at its current peak in Vietnam with strict social distancing and lockdown measures implemented across the nation. The now spreading Covid-19 pandemic is aggravating the difficult situation of both the people and the corporate sector that have already been mired in troubles. It is undeniable that the above good news from taxmen has been giving rise to mixed opinions. Some people and companies have even deduced negative thoughts that the authorities have paid more … [Read more...] about Conserving the people’s resources advisable