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In 1990 the Law on Private Enterprises was passed. On April 15, 1992, the Constitution Law was approved by the National Assembly. This was the fundamental legislation required to convert a collective economy into a market economy. Thus, on September 18, 1992, Thanh Nhon Co., Ltd, the predecessor of NovaGroup, became one of the very first private enterprises to be established in the country. Over the course of the last 30 years NovaGroup has faced and overcome numerous difficulties. As the sayings go, "When everything seems to be going against you, remember that the airplane takes off against the wind, not with it" and “Success is determined not by what we have achieved but by the obstacles we have overcome.” NovaGroup maintains an unwavering commitment to its long-term vision and strategy of “The development of the Group is closely tied with the development of the country.” Since its early days NovaGroup has collaborated with reputed partners to introduce new technologies … [Read more...] about NovaGroup: 30 years of brightening lives

Looking back at the development history of the Vietnamese press, publications are associated with various political or economic trends. VIR was born at a time when the country was focusing on attracting foreign investment to create momentum for the doi moi journey. Back then, the newspaper worked as a press agency of the State Committee for Cooperation and Investment. VIR’s publications are available on PressReader and all flights of Vietnam Airlines In the economic press, VIR and its sister Vietnamese-language newspaper Dau tu had to compete with rivals such as Vietnam Economic Times, Saigon Times, Banking Times, and Financial Times. After more than 20 years of competition, with relentless efforts to report on hot economic issues, VIR has won a string of press awards, both at home and abroad. Today, VIR can also be found in the cabins of Vietnam Airlines flights, at international conferences, and at important meetings of the government, ministries, and state agencies. … [Read more...] about Building on a rich history

The pandemic and geopolitical tensions have caused supply chain issues for Vietnamese manufacturers. How have these impacted BASF? CEO Erick Contreras BASF has been negatively affected by the increased costs of natural gas and other raw materials, especially in Europe. We have also experienced supply chain disruption and logistic issues, impacting raw material supplies and delivery timelines to our customers. The price surge due to inflation and currency exchange has impacted our customer affordability and price acceptance, leading to reduced demand and consumption, especially for export, for many Vietnamese manufacturers. We will keep monitoring the situation and work closely with our customers and partners across the value chain to ensure business continuity with minimal disruptions to their operations and businesses. How did these changes affect BASF’s business and commitments to Vietnam, and what has it done to respond to those changes? Despite all … [Read more...] about BASF Vietnam commits to sustainable funding strategy

Whether in the Western world or the East, newspapers large and small are being forced to up their games considerably in order to survive. In many regions, the press industry is facing slumping ad sales, the loss of classified advertising, and sharp drops in circulation. The United States saw the loss of an average of two newspapers per week between the end of 2019 and May of this year, according to the Medill School of Journalism. The statistic means that an estimated 70 million people now live in areas deemed “news deserts” or areas that are at high risk of becoming so. Over in the United Kingdom, newspaper publishers are being shunned by investors because they do not offer decent returns. Britain’s major newspapers have seen circulations decline sharply in the last couple of decades, although they have countered this to some extent with online products. “We have found a clear pattern of declining sustainability in the sector since 2010, which is consistent with reduced income … [Read more...] about Evolution vital for VIR to stay relevant

Rajesh Saxena, Chief Executive Officer, Intellect Global Consumer Banking. — Photo Courtesy Cathay United Bank Intellect Global Consumer Banking (iGCB) recently announced that Cathay United Bank has chosen to implement iGCB’s acclaimed digital credit platform iKredit 360 to power the next growth stage of its lending business. The bank chose iGCB’s iKredit360 to meet the ever-changing needs of credit seekers. As an end-to-end loan lifecycle management system comprised of loan servicing, collateral and limits and partner management, iKredit will empower Cathay United Bank to offer curated credit products across all business segments including retail and SMEs. In addition, it will enhance customer experience with end-to-end digitisation of the lending process and increase customer lifetime value and mitigate risks with a real-time 360 degree customer view. Furthermore, the platform will protect and maximise revenues with customer-centric strategies and streamlined collection … [Read more...] about Cathay United Bank to use iKredit 360 to better serve customers

Top 10 reputable companies in the food-beverage sector in Vietnam in 2022 (Photo: Vietnam Report) Hanoi (VNA) – Vietnam Report JSC has announced the top 10 reputable companies in the food-beverage sector in Vietnam in 2022. They are Vietnam Dairy Products Joint Stock Company (Vinamilk), Frieslandcampina Vietnam, International Dairy Products (IDP) JSC, NutiFood Nutrition Food JSC, VitaDairy Vietnam JSC, Moc Chau Dairy Cattle Corporation JSC, KIDO Group Corporation (KIDO), Mead Johnson Nutrition Vietnam, Nutricare Nutritrion JSC, and Zott Vietnam JSC. Meanwhile, the top companies in the field of sugar confectionery and food include Nestlé Vietnam Co., Ltd., Orion Food Vina Co., Ltd., Mondelez Kinh Do Vietnam JSC, Herbalife Vietnam Single Member Limited Liability Company, Quang Ngai Sugar JSC, Thanh Thanh Cong-Bien Hoa JSC, Bibica JSC, Hoang Mai P&T Co, Ltd., Perfetti Van Melle Vietnam Ltd., and Huu Nghi Food JSC. The selection was based on the firms’ financial capacity, … [Read more...] about Top 10 reputable F&B firms in 2022 announced