Banks upskilling staff for digital transformation

Interest rates decline further From mid-November this year, most commercial banks simultaneously lowered their deposit rates further, although they had adjusted deposit interest rates many times before. The interest rates for over 12 month-term deposits of many banks have dropped to less than 6 percent per annum. Meanwhile, the interest rates for less-than-six-month terms in some commercial banks have also lowered to around 3 percent per annum, much lower than the ceiling regulated by the State Bank of Vietnam (SBV). The reduction of deposit interest rates has further facilitated commercial banks to offer several preferential interest rate packages for enterprises during the business occasion at the end of the year. For instance, the lending interest rate of business loans for small and medium-sized enterprises applied by Vietcombank is at only 5.9 percent per annum, lower than the 12-month deposit interest rate of some other commercial banks in the market. Agribank has also … [Read more...] about Banks enable credit capital at year’s end

Thanh Hoa (VNA) – The north central province of Thanh Hoa has taken a number of specific measures to fulfill its new-style rural area building plan, striving to have an additional 42 communes accomplishing all criteria of the programme in 2018. The province is making procedures to seek the government’s recognition of Quang Xuong and Dong Son districts as new-style rural areas in the year. At the same time, it will focus on helping Muong Chanh commune in Muong Lat district complete from three to five criteria, and ensuring that each mountainous district has at least three new-style communes, thus raising the average number of completed criteria in each commune to 16 out of the total 19 criteria. In order to reach the target, Thanh Hoa will strengthen the apparatus of administrations at all levels to enhance their capacity in directing the implementation of the programme. Localities across the province will step up communications campaigns on the programme, while … [Read more...] about Thanh Hoa targets 42 new-style rural communes in 2018

60 percent of online orders in Vietnam made on social networks Vietnamese people are shopping on social networks more than on e-commerce websites. The payment methods for goods exchanged on the social networks, however, remains very ‘primitive’. … [Read more...] about New policy is needed to control Facebook in Vietnam