This is the second national business conference chaired by PM Nguyen Xuan Phuc since he took office in 2016 in a bid to seek ways to further improve the country's business environment. The conference is also attended by leaders of 63 local authorities and representatives of 200 foreign-funded enterprises. In the afternoon, the Government will convene meeting with leaders of ministries and localities to consider businesses' recommendations presented at the conference. At 7: 30am, PM Phuc started the conference which is scheduled to last until 13pm. He called on business leaders and other delegates to contribute frank ideas and recommendations on how the Government will create best conditions for the operation of businesses. The PM strssed that despite achievements, there remained many things that we have to address to remove difficulties against business. At 7.45': Minister of Planning and Investment Nguyen Chi Dung presented a report on one-year implementation of the Government's … [Read more...] about Live: National Business Conference, EUROCHAM suggests ways to create new wave of investment inflows
Briefing business
Some businesses in Asia disrupted by cyber attack, authorities brace for more
Asian governments and businesses reported some disruptions from the WannaCry ransomware worm on Monday but cybersecurity experts warned of a wider impact as more employees turned on their computers and checked e-mails. The ransomware that has locked up hundreds of thousands of computers in more than 150 countries has been mainly spread by e-mail, hitting factories, hospitals, shops and schools worldwide. While the effect on Asian entities appeared to be contained on Monday, industry professionals flagged potential risks as more systems came online across the region. Companies that were hit by the worm may be wary of making it public, they added. "We're looking at our victims' profiles, we're still seeing a lot of victims in the Asia-Pacific region. But it is a global campaign, it's not targeted," said Tim Wellsmore, Director of Threat Intelligence, Asia Pacific at cybersecurity firm FireEye Inc FEYE.N. "But I don’t think we can say it hasn’t impacted this region to the … [Read more...] about Some businesses in Asia disrupted by cyber attack, authorities brace for more
Vietnam Expo 2017 to bring together 500 businesses
The information was released by Bui Huy Son, Director of the Trade Promotion Agency under the Ministry of Industry and Trade, at a press briefing introducing the event in Hanoi on April 11. Products on display will cover the areas of cosmetics, beauty equipment, food and drinks, household devices, machinery and electronics, among others. Alongside booths set up by individual enterprises, the four-day fair will also feature five national pavilion sections from Algeria, Cuba, the Republic of Korea (ROK), China and Vietnam, Son said, adding that an array of trade promotion activities will be held on the sidelines of the event. Notably, the Vietnam Exports Promotion Forum will discuss export market prospects and opportunities, exports policies and their impacts on exports activities, while sharing practical experience in trade promotion, seeking to help businesses to work out measures to improve their exports efficiency. The ROK will be participating in the 2017 Vietnam Expo for the 19th … [Read more...] about Vietnam Expo 2017 to bring together 500 businesses
VN central bank allays concerns over brief deposit rate hikes
The fluctuations in deposit rates at the beginning of March were an anomaly and things have returned to normal now, says Deputy Prime Minister Vuong Dinh Hue. During the "turbulent" period, several commercial banks issued deposit certificates with annual interest rates from 8.2 to 9.2 percent for long term deposits and 5.4 to 6.9 percent for short-term ones in order to attract more capital. This was a significant increase from the previous average rates of 6.5 to 6.8 percent in late 2016. Banks started offering high rates for long-term deposits (for more than a year) because the central bank was looking askance at the use of short-term deposit funds to grant medium to long term loans. This triggered some anxiety about a shortage of cash and ensuing high borrowing costs. The central bank allayed such concerns. "This phenomenon was localised and has been quickly stabilised," said Le Minh Hung, Governor of the SBV. The governor also asserted that during the first quarter of 2017, … [Read more...] about VN central bank allays concerns over brief deposit rate hikes
Social News In Brief 28/3
Oil spill response training held in Quang Ninh Some 200 people from oil exploiting and transporting companies and organisations in the northern province of Quang Ninh were provided with necessary knowledge and skills to respond to oil spills during a training course held in the locality on March 28. The course was jointly organised by the provincial Department of Natural Resources and Environment and the Vietnam Maritime Construction Investment Consultancy Joint Stock Company. Participants were equipped with measures to control oil spills, laws and regulations related to the issue as well as technical measures to clean up oil-contaminated areas and ways to manage environmental pollution after the oil spill. They also practised collecting oil from the spill in conditions of strong flows and big waves. There has been no serious oil spill case in Quang Ninh province since the beginning of 2017. Enhancing skills to prevent and tackle oil spills is necessary for the province as it is a … [Read more...] about Social News In Brief 28/3