Joint development bank

Interest rates decline further From mid-November this year, most commercial banks simultaneously lowered their deposit rates further, although they had adjusted deposit interest rates many times before. The interest rates for over 12 month-term deposits of many banks have dropped to less than 6 percent per annum. Meanwhile, the interest rates for less-than-six-month terms in some commercial banks have also lowered to around 3 percent per annum, much lower than the ceiling regulated by the State Bank of Vietnam (SBV). The reduction of deposit interest rates has further facilitated commercial banks to offer several preferential interest rate packages for enterprises during the business occasion at the end of the year. For instance, the lending interest rate of business loans for small and medium-sized enterprises applied by Vietcombank is at only 5.9 percent per annum, lower than the 12-month deposit interest rate of some other commercial banks in the market. Agribank has also … [Read more...] about Banks enable credit capital at year’s end

Other analysts have warned that since energy is a sensitive industry which has a direct impact on the economy, the government needs to be selective and ensure foreign investors do not bring low technologies or seek to control the country’s resources. … [Read more...] about Vietnam needs $150 bln for energy development

Alain Cany, EuroCham chairman I am very pleased to present our third edition of EuroCham’s White Book on Trade Issues and Recommendations. We believe that now is the right time for Vietnam to concentrate on strategic key issues to further increase Vietnam’s competitiveness, such as upgrading the quality of Vietnam’s labour force, improving infrastructure and energy supplies, encouraging sustainable PPP programmes and continuing regulatory and administrative reforms. Moreover, structural reforms to increase the efficiency of its economy must remain high on Vietnam’s agenda, in particular with regards to further equitising the state-owned enterprises. We hope that like the prior editions, the Whitebook 2011 will again be well received by the Vietnamese government and contribute to Vietnam’s success story. … [Read more...] about EuroCham calls for change

Hanoi (VNA) - The 14th ASEAN Ministerial Meeting on Transnational Crime and Related Meetings (AMMTC 14) will take place online on November 26, according to the Ministry of Public Security. Prime Minister Nguyen Xuan Phuc will attend it and deliver a keynote address. Hosted by the ministry, the meeting will involve officials from ASEAN member nations and the ASEAN Secretariat, and representatives from ASEAN embassies in Vietnam. Immediately after the opening ceremony, General To Lam, Minister of Public Security, will chair the plenary session which will see the participation of ASEAN ministers overseeing transnational crime prevention, the Secretary-General of ASEAN, and ASEAN Directors-General of Immigration Departments and Heads of Consular Affairs Divisions of the Ministries of Foreign Affairs (DGICM). Vietnam will take over the AMMTC Chairmanship from Thailand - the host country of AMMTC 13 in November 2019 - at the session. Delegates will look into regional and global … [Read more...] about Ministry of Public Security to host ASEAN meeting on transnational crime

Việt Nam and Cambodia will work closely together within the ASEAN framework, the leaders agreed, noting that they will direct their countries’ ministries, sectors, and localities to coordinate with each other to strengthen the COVID-19 fight while dealing with any issues emerging in a timely manner and in the spirit of friendship and cooperation. … [Read more...] about Vietnamese, Cambodian PMs talk on strengthening relations