Company reporting

Prime Minister Pham Minh Chinh attended the opening ceremony of FPT Software's new office in New York City Speaking at the ceremony, Prime Minister Pham Minh Chinh stressed the importance of the event in the context of Vietnam’s rapid recovery after the pandemic, showing the country’s sustainable socioeconomic development with a focus on technology and innovation. The PM believed that FPT would develop faster and stronger, contributing to the development of science and technology among Vietnam’s businesses. Dang Tran Phuong, CEO of FPT Americas said, “This is a milestone asserting our rapid and strong growth in the world's largest economy. In the next three years, we expect the new office to contribute 20 per cent of FPT Software's total revenue in the US, with the number of employees working directly with US reaching 5,000 people." This is FPT Software's 10 th office in the US and the company's 58 th worldwide. The new office is located at 295 Madison Avenue in New York … [Read more...] about FPT Software opens 10th office in the US

Meeting with CEO of Warburg Pincus Charles Kaye, PM Chinh noted that in the time ahead, it is necessary to improve the effectiveness of funding and focus on the key areas that can boost other fields. He stressed Vietnam is investing efforts in developing strategic infrastructure, including digital and transport infrastructure, digital transformation, climate change fight, the capital market, and digital transition, calling on the private equity firm to promote sources of investment into Vietnam in these areas. Clarifying the issues of Warburg Pincus’s concern like the cooperation capability of Vietnamese companies, macro-economic stability, infrastructure, and logistics, the PM affirmed that the Vietnamese Government is ready to hold dialogue with enterprises so as to field their questions and help them operate successfully in the country, which shows the mutual trust, sincerity, sense of responsibility, and win-win cooperation. He also asked enterprises, including Warburg … [Read more...] about Vietnamese PM receives leaders of U.S. companies in New York

Jakarta (VNA) - Air Products & Chemicals - a multinational industrial gas and chemicals manufacturer headquartered in the US, has carried out the first phase of its investment in projects worth 7 billion USD in Indonesia over the past two years. According to Bahil Lahadalia, Minister of Investment and head of the Investment Coordinating Board of Indonesia (BKPM), this figure accounts for nearly half of the 15 billion USD investment commitment of the company in Indonesia. The company has poured money in dimethyl ether and methanol production projects in the Balongan district of West Java province. Minister Bahil announced the above information after a meeting between President Joko Widodo and Seifi Ghasemi, President and Chief Executive Officer of Air Products, on May 13 in Washington D.C. According to Bahil, the sides discussed the development of an industry upstream to downstream in the petrochemical sector. He said at the meeting, President Jokowi emphasised the … [Read more...] about US company pours 7 billion USD into Indonesia

In the match between U23 Malaysia and U23 Cambodia in Thien Truong Stadium. (Photo: VNA) Nam Dinh (VNA) – Foreign reporters said they have been strongly impressed with the football atmosphere at Thien Truong Stadium in the northern province of Nam Dinh, which has hosted Group B men's football matches and a semi-final of the 31st Southeast Asian Games ( SEA Games 31 ). Reporter Deepannaj A C Ganesan of Singapore said this is the first time he has worked at a SEA Games, and he was very impressed with the vibrant football atmosphere in Thien Truong Stadium . Every match in the stadium was really a football "party", he said. Meanwhile, Malaysian reporter Mohd Fahmi Ismail said the local authorities have prepared so well for football teams attending SEA Games 31. Ahmad Nazrin Syahmi Mohamad Arif, another reporter from Malaysia, said that he is well disposed to local people because of their friendliness and hospitality. According to the reporters, the stadium was always … [Read more...] about SEA Games 31: Foreign reporters impressed with football fans in Nam Dinh

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

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