Goal of financial management

Melanie Dumont of the Ministry of Economics and Innovation of Canada’s Quebec City said it was vital to develop a strategy for connecting financial institutions and farmers to build risk management capacity to ensure that farmers are guaranteed a stable income even in case of natural disasters or market fluctuations.  … [Read more...] about Việt Nam to enhance agriculture risk management capacity

Hanoi (VNS/VNA) - Vietnam could cease to have an operating train system in less than two weeks unless a funding issue at the Vietnam Railways Corporation (VNR) is resolved, an official has said. The stunning revelation came this week when Vu Anh Minh, Chairman of the VNR's Member Council, spoke at a meeting between the Government’s working group and the Committee for Management of State Capital at Enterprises (CMSC). The railway operator hasn't received a single VND from the State since November 2018, when a change in how it was managed stopped the flow of cash, leaving the corporation without a budget for vital railway maintenance. The VNR used to be under the management of the Ministry of Transport but in November 2018, it was transferred to the CMSC, as part of efforts to separate State capital management from corporate administration. Before the transfer, annual budget estimates allocated to the VNR for maintenance work were made by the transport ministry, which can no … [Read more...] about Train services derailed by funding chaos

HCM City (VNA) – The interest rates were kept stable in the first six months of 2018 while the lending rates for priority fields have decreased. The information was revealed at a meeting to review the banking activities in the first half of 2018 in Ho Chi Minh City on June 13. State and commercial banks cut about 0.5 percent per year in interest rates for consumers with good credibility. At current, interest rates of short-term loans stand at 6-9 percent while those of mid- and long-term loans are about 9-11 percent. Those with high credibility and financial capability could enjoy rates of 4-5 percent per year.  According to Vice Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong, to ensure the liquidity of credit organisations and stabilisation of the monetary and forex market, the central bank will focus on the flexible management of open market operations in line with market developments and available capital of credit organisations. The bank will make it … [Read more...] about Interest rates kept stable in first half of 2018

Bac Lieu (VNA) – Taking tourism as one of the five pillars for socio-economic development, authorities of the Mekong Delta province of Bac Lieu have been issuing several legal documents relating the management of the sector and boosting the exchange of information in this field with regional localities, according to insiders. Director of the provincial Department Culture, Information and Tourism Cao Xuan thu Van said Bac Lieu aims to rake in 3 trillion VND (nearly 130 million USD) from tourism, an increase of from 18-30 percent over last year, with 3 million arrivals (10 percent increase), including about 90,000 foreign visitors. To achieve the ambitious goal, provincial authorities will continue improving the state management over tourism, perfecting and raising the quality of the operation of local places of interest, and ensuring the hygienic and security environment. They have facilitated the attraction of investment to major tourism projects in the province and developed … [Read more...] about Mekong Delta province focuses on tourism development

Hanoi (VNS/VNA) - Telecommunications firms are turning towards developing their own digital content, the Vietnam Telecommunications Authority (VNTA) under the Ministry of Information and Communications has said. Mobile service revenue is mainly based on traditional telecommunication services, with revenue from voice calls and SMS messages accounting for 76.6 percent.  With tightened management over pre-activated SIM cards, the number of mobile phone subscriptions was 125.8 million last year, a year-on-year decrease of 3.5 percent. However, the number of broadband subscribers has increased significantly, with mobile broadband (3G, 4G) having 61.3 million subscriptions, accounting for 48.7 percent of the total number of mobile subscriptions. The total market share of the three largest enterprises, Vinaphone, MobiFone, and Viettel, accounted for more than 96.2 percent last year, said VNTA. Commenting on the telecommunications market, Huynh Quang Liem, deputy general director of … [Read more...] about Telecoms firms turn to digital content