News vietnam

Aung San Suu Kyi, Myanmar State Counsellor, Minister of Foreign Affairs, and Minister of the President’s Office, will pay an official visit to Vietnam from April 19-20 at the invitation of Prime Minister Nguyen Xuan Phuc. Aung San Suu Kyi, Myanmar State Counsellor, Minister of Foreign Affairs, and Minister of the President’s Office Vietnam and Myanmar have shared a sound traditional friendship. Myanmar was one of the first Southeast Asian countries to set up diplomatic relations with Vietnam in 1975 and whole-heartedly supported Vietnam during the struggle for national independence and reunification. The two countries elevated their bilateral ties to a comprehensive cooperative partnership during a State visit to Myanmar by General Secretary of the Communist Party of Vietnam Nguyen Phu Trong in August 2017. Bilateral trade reached US$ 828.3 million in 2017, up 51 percent from 2016. Vietnam has become the 7th biggest foreign investor in Myanmar with 70 projects worth … [Read more...] about Myanmar State Counsellor to visit Vietnam

Vietnam’s banks are having difficulties meeting Basel II standards, including the quality of database, the qualifications of staff, technology infrastructure, training, and budget for consultants. By mid-April 2019, three more banks, Military Bank, TP Bank and VP Bank, had been allowed to apply ahead of time the capital adequacy ratio (CAR) in accordance with State Bank of Vietnam’s (SBV) Circular No 41 (Basel II’s CAR – the standard method). As such, six commercial banks have applied Circular No 41 ahead of time, namely Vietcombank, VIB, Military Bank, VP Bank, OCB and TP Bank. These include two banks – TP Bank and OCB – which were not appointed by SBV to pilot the application of Basel II. This, as commented by analysts, show that Vietnam’s commercial banks have taken the initiative in all their operations, from bad debt settlement to information system upgrading and risk management. Under the Vietnam’s banking sector development … [Read more...] about Vietnam’s banks strive to meet Basel II standards

Vietnam is following a skeptical interest rate policy, with few and minor adjustments. More central banks have cut prime interest rates in a trend of loosening monetary policies worldwide. The Australian central bank has for the second time in the last month slashed the interest rate. And the Indian central bank has eased the interest rates for the third time this year. The central banks of Japan, the UK and the EU have not made adjustments, but are showing signs of considering and getting ready to ease interest rates to maintain the economic growth, especially after the US FED decided to maintain interest rate in the June meeting. The monetary loosening was a big surprise to many analysts. Prior to that, in 2018, many monetary policy operators raised the interest rates. How about Vietnam? Kim Chi  Banks cut priority loan interest rates Soon after the US announced a 0.25 % cut in the benchmark interest rate on July 31 seven Vietnamese banks, including … [Read more...] about Vietnam cautious about interest rate policy

Vietnam has pledged to cut 8% of her greenhouse gas emissions by 2030, or even 25% with international support. A thermal power plant in Vietnam. This sector is among those that discharge large volumes of emissions Six years ago, a report published by the Working Group I of the Intergovernmental Panel on Climate Change (IPCC) considered climate change to be one of the greatest challenges to humankind. Its effects on human beings and changes to the climate system have been documented since the 1950s. The main cause of climate change is greenhouse gas emissions, of which carbon emissions from human daily life and production activities around the world is the main culprit. Surging cost woes At the workshop entitled “Improvement of Policies and Legislation in Response to Climate Change in Vietnam” held in Can Tho on October 7, Prof. Tran Thuc, vice chairman of the advisory council of the National Committee on Climate Change, said coupled with development, the number … [Read more...] about Carbon emission a thorny problem in Vietnam

Heineken was a direct competitor of Thaibev for the acquisition of Sabeco in late 2017. However, Thaibev won the race by spending US$4.89 billion for a nearly 54% stake of Sabeco. Heineken Asia Pacific on November 15 announced the sale of nearly 5.2 million shares of Saigon Beer Alcohol Beverage Corp (Sabeco) or 0.81% of total voting shares, effectively ending its status as a major shareholder of Vietnam’s largest brewer, according to a filing to Ho Chi Minh City Stock Exchange (HoSE).  Illustrative photo. Following the deal, Heineken now holds 2.5 million shares, or 0.39% of total voting shares of Sabeco. With 25.2 million shares owned by related persons or 3.93% of voting shares, Heineken and related persons hold a total of 27.6 million shares, representing 4.32% of total voting shares. At the close on November 15, Sabeco shares stood at VND252,000 (US$10.88) each. Heineken was a direct competitor of Thaibev for the acquisition of Sabeco in late 2017. Being the … [Read more...] about Heineken no longer major shareholder of Vietnam’s brewer Sabeco