Techcombank is on track to be among the top ASEAN banks Techcombank’s rise within the Vietnamese banking industry was highlighted last year when it became the first non-state-owned bank to join Vietnam’s billion-dollar profit club. “Even in the very tough environment we are seeing, our employees have maintained a high quality and reliable service for our customers and this is helping us to deliver stellar performance year after year,” said Jens Lottner, CEO of Techcombank. Last year, the bank continued to reduce costs while focusing on building deposits in its current accounts and savings accounts (CASA), which Lottner described as a “stable and cheap” source of funding. Techcombank’s CASA ratio, which reflects the percentage of the bank’s total deposits that are CASA, jumped from 46.1 per cent in 2020 to 50.5 per cent last year, well on its way to the bank’s target of 55 per cent by 2025. Techcombank’s net interest margin, a measure of the difference between the interest … [Read more...] about Techcombank on track for a seat among the top ASEAN banks
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Roche Pharma Vietnam co-creating partnerships in sustainable health
"We are constantly looking for other areas to cooperate with the government. We bring to the table expertise in healthcare management, in regulatory affairs, even in logistics." - Lennor Carrillo, general director at Roche Pharma Vietnam During Roche’s 28 years in Vietnam, the company has moved beyond its traditional role as a pharma company and partnered with the government, hospitals, and doctors to improve the entire healthcare ecosystem. Could you share some highlights and difficulties of the journey? Roche celebrated its 125th birthday globally, and in that time span, we’ve tried to go beyond the drug-patient kind of approach and make a bigger impact. In Vietnam, aside from the government, additional partners that we have worked with include the Vietnam Medical Association, the Bright Future Fund, the National Cancer Institute, the National Institute of Hematology and Blood Transfusion, and other medical institutes and hospitals. A good example of the partnership we … [Read more...] about Roche Pharma Vietnam co-creating partnerships in sustainable health
Vietnam’s economic recovery gaining momentum
Vietnam continues to benefit from its broad re-opening strategy, which saw a huge crowd flocking to tourist hotspots in the country and household spending rebound. Vietnam’s economic recovery is gaining momentum despite heightened global uncertainty related to the protracted war in Ukraine, higher commodity prices, and tightening global financial conditions, according to the World Bank. Cargo handling at Dinh Vu port, Haiphong. Photo: Cong Hung In its latest report, the World Bank pointed out the robust growth of industrial production by 9.4% in April, comparable to pre-pandemic rates. Manufactures of apparel, footwear, electronics, electrical equipment, and metal products were the most dynamic sub-sectors, registering double-digit growth rates, it added. However, machinery manufacturing slowed from 26.6% year-on-year in March to only 5.1% in April. This deceleration was related to supply chain disruptions caused by lockdowns in China, which led to a … [Read more...] about Vietnam’s economic recovery gaining momentum
Vietnam, Laos boost construction of road linking two capital cities
There should be special mechanisms for economic ties between the two countries. The governments of Vietnam and Laos are closely working on the construction of the Hanoi-Vientiane expressway project that will facilitate sea access to land-locked Laos. Chairman of Vietnam’s National Assembly Vuong Dinh Hue speaks with Vietnamese businesses in Laos on May 15. Photos: Quochoi The information was released by Chairman Vuong Dinh Hue of Vietnam’s National Assembly who is on his three-day visit to Lao starting on May 15. Hanoi-Vientiane expressway, which is being built with funding from Japan, will enable Laos to access the sea in Vung Ang Seaport, Vietnam’s central province of Ha Tinh. Launched in 2016, the 725-km project, with an estimated investment of US$4.5 billion, is expected to boost economic connectivity between the two countries and Thailand’s northeast. Hue said the two countries' economic ties need to be boosted to become commensurate to the strong … [Read more...] about Vietnam, Laos boost construction of road linking two capital cities
Hanoi promotes tourism among visitors attending SEA Games 31
The capital city and its neighboring provinces introduce attractive tourist destinations, products, and services to international visitors. Themed “Hanoi - Den de yeu” (Hanoi- Visit It to Love It), Hanoi Tourism Festival 2022 is an opportunity to promote the image of a safe and friendly capital on the occasion of the 31st SEA Games. That is the affirmation of Nguyen Manh Quyen - Vice Chairman of the Hanoi People’s Committee at the festival’s opening ceremony last weekend. Leaders of Hanoi city and delegates visited the tourist booth at the opening ceremony of Hanoi Tourism Festival 2022. Photo: Le Nam Admiring the “technological wall” showing Hanoi’s scenic spots The festival was organized with various new and impressive features. Besides advertising through booths and miniature models of landscapes such as Thang Long Imperial Citadel, Temple of Literature - Imperial Academy, Hoa Lo Prison, and Hanoi’s Old Quarter, among others, the festival also showcases … [Read more...] about Hanoi promotes tourism among visitors attending SEA Games 31
Vietnamese, Cambodian defense ministers hold talks
At the talks, the Vietnamese defense minister expressed his delight at meeting with Tea Banh, Cambodian Deputy PM, Defense Minister and co-chairing the first aforementioned exchange. General Giang emphasized the special significance of the first Vietnam-Cambodia Border Defense Friendship Exchange since the first time the two defense ministries hold a border defense friendship exchange at the defense minister level. More significantly, the exchange is held in this year which is selected to be the Vietnam - Cambodia and Cambodia - Vietnam Friendship Year and marks the 55th anniversary of the establishment of the two countries’ diplomatic ties (June 24, 1967 - 2022), and the 45th anniversary of Cambodian PM Hun Sen’s “Journey to the fall of the Pol Pot genocidal regime” (June 20, 1977 - 2022). The Vietnamese defense chief expressed his emotion when receiving sincere, warm and friendly welcome of the local people and the Cambodian Ministry of National Defense during the activities … [Read more...] about Vietnamese, Cambodian defense ministers hold talks