Price Waterhouse Cooper’s (PwC) 2018 Global Economic Crime and Fraud Survey in Vietnam finds that 52% of Vietnamese enterprises had experienced economic crime in the past two years. This is the first PwC survey in Vietnam. According to the survey, this crime rate is higher than the average in Asia-Pacific's 46% and the global rate of 49%. Even though 40% of the asked people said they hadn't encountered any criminals, it's highly likely that the crimes just haven't been exposed yet. The most common crime in Vietnam is embezzlement with 40% votes and bribes and corruption with 36%. 11% of the asked people don't know or don't want to say. About 53% of the criminals in major cases are insiders with 61% of them are low-level or middle-level managers. 32% of the surveyed said they suffered more than USD100,000 in damage not to mention damage to reputation and business relations. Marcus Paciocco from PwC Vietnam said some measurable financial losses included legal costs or actual loss … [Read more...] about BUSINESS NEWS IN BRIEF 21/11
Big 10 academic rankings
The Vietnamese education system has been checking off target after target in recent years, Photo: ISHCMC In the afternoon of November 3, at the Presidential Palace in Hanoi, Party General Secretary and State President Nguyen Phu Trong met with 55 of the best performers of Vietnamese schools and universities in the 2017-2018 school year. According to the leader, although limitations do still exist in the education sector and the country keeps striving for more, Vietnamese education is on a level it has never reached before. A recent report by the Ministry of Education and Training’s (MoET) Continuing Education Department shows that the current rate of literate people between the ages of 15 and 60 is nearly 98 per cent, reaching the target set for 2020. This year was also the first year that Vietnam’s two major universities – Ho Chi Minh City National University and Hanoi National University – made the list of the top 1,000 most reputable … [Read more...] about Vietnam’s education making the grade
Deutsche Bank appoints new chief country officer for Vietnam Deutsche Bank has just announced the appointment of Hans-Dieter Holtzmann (49) as chief country officer and head of Global Transaction Banking (GTB) in Vietnam, effective from August 16, 2018. In his capacity as chief country officer, Holtzmann will report to Werner Steinmueller, member of the Management Board and APAC Head of Deutsche Bank, and in his GTB capacity, to Kaushik Shaparia, head of Global Subsidiary Coverage, GTB Foreign Exchange and Corporate Cash Management for Asia. Announcing the appointment, Steinmueller said, “We are pleased to have a colleague of Hans-Dieter’s caliber in this role. As one of our key markets in Southeast Asia, our Vietnamese franchise has shown profitable growth and we are excited about the country’s outlook. This is why last year we significantly increased our capital base in this market, providing the bank with more resources to support our clients’ … [Read more...] about BUSINESS NEWS IN BRIEF 20/8
NA Vice Chairman wraps up US visit NA Vice Chairman Do Ba Ty (R) meets US friends who have supported Vietnam in its past struggle for national liberation and current nation building cause The Vietnamese National Assembly (NA) will continue providing support for Vietnam’s overseas representative offices, affirmed NA Vice Chairman Do Ba Ty while talking to Vietnamese officials who are working in New York. Ty asked Vietnamese representative offices to update and study the host country’s commercial policies to submit appropriate response to the legislature. He met officials of the Vietnamese permanent mission to the United Nations and Vietnam’s representative offices, as well as correspondents of Vietnam News Agency and Vietnam Television in New York during his working visit to the city from July 26-27. Meeting several US friends, Ty recalled important milestones in the relations between Vietnam and the US. US friends, in turn, made proposals helping Vietnam carry … [Read more...] about Government News 27/7
VietNamNet Bridge - Educators agree that Vietnam’s universities need to be accredited, but they have not reached a consensus on how it should be done. There are 16 university ranking organizations, including the four most prestigious – THE (Times High Education), QS (Quacquarelli Symonds), ARWU (Academic Ranking of World Universities), and Webometrics (Webometrics Ranking of World Universities). According to Deputy Minister of Education and Training Nguyen Van Phuc, none of the rankings is ‘perfect’ and Vietnam needs to use the one suited to it. ARWU, for example, attaches importance to scientific articles published in international journals. QS doesn’t put much emphasis on articles, but pays attention to comments by experts and society. Agreeing with Phuc, deputy director of the Hanoi National University Nguyen Huu Duc said that ARWU and THE are not suited to most universities in Asia and developing countries. The weak point of Vietnamese … [Read more...] about University accreditation: ‘a game of the rich’?