Launches new app

A visitor uses a remote guide app on her mobile at the National Fine Arts Museum. —VNS Photo Le Huong The tourism sector must apply digital transformation to secure sustainable development, according to dozens of participants at a forum on the topic held in Ha Noi on May 18. Titled "Green Light for Tourism to Take Off Part 2: Digital Transformation: Diving Force for Sustainable Development", the forum gathered dozens of experts from State management agencies, tourism authorities, localities, and IT. The first part of the forum held in March focused on opening doors to international tourists. Hoang Quang Phong, deputy chairman of the Vietnam Chamber of Commerce Industry, said at the end of 2018, the Prime Minister issued Decision No 1671/QD-TTg approving the “Master plan on applying informatics technology in the tourism field for 2018-2020, with orientation to 2025.” “Informatics technology has been applied in various tourism companies, especially hotels, resorts and big … [Read more...] about Forum held on digital transformation for sustainable tourism

"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 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 percent in 2020 to 50.5 percent last year, on its way to the bank’s target of 55 percent by 2025. Techcombank’s net interest margin (NIM), a measure of the difference between the interest received by the bank and the amount paid out to lenders, also increased 69 basis points to 5.6 percent during the year. "Together, these improving metrics, along with our effective cost management, translated into an excellent profit before tax … [Read more...] about Techcombank eyes seat at top Southeast Asian banking table

Gold is yet again becoming a safe haven asset, and some customers want more ways to get involved, Le Toan The World Gold Council (WGC) believes that the appetite for gold is often hampered by the interest rate, as when interest rates rise, gold loses its appeal. However, inflation is also a tailwind to gold demand as a common safe-haven asset. The USD tends to weaken when the Fed raises interest rates, which enhances gold’s demand. “Furthermore, what happens in China’s consumer market has had a big impact as it’s the world’s largest consumer market for gold. We expect China to start to emerge from the worst of the pandemic and that will support consumer demand,” the WGC noted last week. “It is difficult to predict how the geopolitical situation will play out. It depends on where inflation goes, but inflation is certainly the biggest driver at the moment, which will probably support institutional investment demand in the next quarter.” Meanwhile, the demand for gold in Vietnam … [Read more...] about Gold appeal sparkles amid rise of inflation

A panel discussion at the conference on strengthening ‘Public-Private Partnership for sustainable healthcare transformation’ in Hanoi on May 18. (Photo: VNA) Opening the event, the newspaper's editor-in-chief Le Trong Minh said that Vietnam's health sector faced many challenges, such as increasing infectious and non-communicable diseases, hospital overcrowding, shortage of supplies and equipment, the ageing population as well as the disparity between regions and healthcare levels in terms of quality of medical services and standardisation of modern equipment. “For the health system to be capable and always ready to respond to future situations, towards a comprehensive and sustainable health care system, it is necessary to have new investment orientations in social resources for the health system, as well as stronger cooperation from the parties involved, including the Public-Private Partnership (PPP) method,” said Minh. At the event, MPI deputy minister Tran Duy Dong said it … [Read more...] about Conference discusses Public-Private Partnerships in healthcare

Ambassador Luong Thanh Nghi and DAVIFO President Trine Glue Doan (Photo: VNA) Hanoi (VNA) – Ambassador Luong Thanh Nghi has suggested the Vietnamese Embassy in Denmark and the Denmark-Vietnam Friendship Association (DAVIFO) coordinate with relevant agencies in organising forums for young people of the two countries to serve as nucleus for their bilateral ties. The two sides should join hands in launching activities like cuisine festivals, photo exhibitions and dialogues between prestigious writers and artists, and audiences to promote the Vietnamese and Danish cultures, he said at a meeting with DAVIFO President Trine Glue Doan on May 17. The diplomat noted with pleasure the close coordination between DAVIFO and the Vietnam-Denmark Friendship Association under the Vietnam Union of Friendship Organisations (VUFO), with practical activities held in Hanoi, Da Nang, Ho Chi Minh City and other Vietnamese localities. Vietnam always pays attention to improving living … [Read more...] about Vietnam, Denmark forge people-to-people exchange

An overview of the event to launch the report (Photo: WB) Hanoi (VNA) - For Vietnam to realise its aspiration for reaching high income status by 2045, the country will need to shift its economic growth model and sharply improve the government’s capacity to coordinate and implement economic policy reforms and public investments, a World Bank Group report says. The World Bank Group ’s Systematic Country Diagnostic Update , entitled "How Will Vietnam Blossom? Reforming Institutions for Effective Implementation”, emphasises that Vietnam's traditional growth model faces major challenges from the COVID-19 pandemic, slowing globalisation, and the country’s increasing vulnerability to external shocks, especially climate risks. After identifying a series of policy responses and reform priorities, many of which are not new, the report argues that adapting institutions will be the key to success. Vietnam’s GDP per capita has increased five fold over the past three … [Read more...] about Vietnam should shift economic growth model for further development: WB report