Ngo Tu Ngan "The water is fine now," a district official told Tu, a neighbor. Relieved at this official confirmation, Tu, in his 40s, immediately changed the water in his five shrimp farms. "What happened next...," Tu choked on his words as he tried to speak to my father, his face taut and lined. After losing the shrimp, Tu and his family did not have much left and had to sell pieces of land that they'd used to breed shrimp for a living. The day Tu signed the papers to sell the land, he cried. Those tears would never wash away the suffering farmers in the area have had to endure. Tu's sad story happened two years ago in my hometown, a village in the Mekong Delta province of Bac Lieu where most locals engaged in shrimp aquaculture. Tu was not the sole victim of misinformation, of course. The water sources in my hometown had become badly polluted those days. We'd read in the news that the pollution was caused by factories dumping untreated waste into the local river. But authorities … [Read more...] about Can officials be trusted to make responsible statements during a crisis?
Icc 9 steps to responsible business
China Railway Sixth Group Co Ltd. has done well in constructing the line, but it lacks experience in putting the line into commercial operation, Minister of Transport Nguyen Van The said at a National Assembly session Wednesday. The contractor was appointed by China according to the terms of a loan agreement beween the two countries, he added. The project can only operate after the Chinese contractor finishes the remaining construction and receives safety certificates for the whole system, he said. In order to evaluate the project safety, the Ministry of Transport has hired a number of foreign consultants, led by a French company. "They can only guarantee the project’s safety if the Chinese contractor provides all the data correctly," the minister said. For these reasons, delays in the commercial operation of Hanoi’s first metro line will likely continue, The said without giving a specific date for the opening. Hanoi’s first metro line is one of five metro projects in … [Read more...] about Inexperienced Chinese contractor responsible for Hanoi metro delays
CSR Strong advocator of Vietnam’s business development By Son Hoang Monday, Dec 9, 2019,09:35 (GMT+7) Strong advocator of Vietnam’s business developmentBy Son Hoang Mr. Shin Dong Min, CEO of Shinhan Bank in Vietnam, and representatives of SFL Vietnam welcome potential startups to join in “Acceleration program” When it comes to corporate social responsibility, Shinhan Bank chooses the rougher path: helping develop new startups for the local economy. Over the past three years, many Vietnamese startups have emerged and gained initial success owing to the support from the South Korean bank. The initiative to support Vietnamese startups stemmed from the success of Shinhan Future’s Lab (SFL), a subsidiary of Shinhan Financial Group known as the leading start-up acceleration program in South Korea. SFL Korea was founded in 2015 and has since supported a lot of successful startups. Some 93.4% of … [Read more...] about Strong advocator of Vietnam’s business development
With the financial year drawing to a close, banks are busy selling mortgaged properties to resolve bad debts, recovering capital. Photo vov.vn With the financial year drawing to a close, banks are busy selling mortgaged properties to resolve bad debts, recovering capital. On November 22, Vietinbank’s Kien An branch announced auctions to recover four large non-performing loans worth dozens of billions to trillions of dong. They include a VND27 billion (US$1.17 million) loan owed by the Hon Ngoc Liability Limited Company. The lender’s Dong Nai branch announced the sale of two properties to recover VND1.2 trillion ($52.17 million) and VND4.3 trillion ($156.95 million) from the Tan Mai Mien Dong Joint Stock Company and Tan Mai Mien Trung Joint Stock Company. Recently, SHB decided to sell a mortgaged asset worth VND9 billion by an individual customer. Others like Sacombank, MB, Agribank and BIDV have been announcing a number of auctions of mortgaged properties. A State Bank of … [Read more...] about Liquidating morgaged assets to recover bad debts still difficult
Demand for investment capital at the Vietnam Oil and Gas Group (PVN) and its member units for 2018-20 was estimated to reach VND620 trillion (US$26.7 billion), PetroVietnam Securities Inc (PSI) recently announced. Workers at PetroVietnam carry out technical checks. Fitch Ratings last month assigned PVN first-time long-term foreign-currency issuer default rating (IDR) at 'BB' with a positive outlook. According to Bui Huy Long, deputy general director of PetroVietnam Securities Inc, of the VND620 trillion, loans accounted for more than 30 per cent through traditional credit and bond issuances. Urgent projects such as Thai Binh 2 Thermal Power Plant, Long Phu 1 Thermal Power Plant, Block B-O Mon Gas Project, Blue Whale Gas Project and Sao Vang – Dai Nguyet Gas Project, would require $4 billion, Long said. Fitch Ratings last month assigned PVN first-time long-term foreign-currency issuer default rating (IDR) at 'BB' with a positive outlook. This was a positive credit rating … [Read more...] about PetroVietnam in need of investment capital