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The deal, which includes a combination of credit cards and personal loans, represents the largest single acquisition made by Collectius to date and signifies a growing need for debt restructuring solutions in the country as loan defaults become more common. The NPLs were a joint acquisition by Collectius and the International Finance Corporation (IFC), a member of the World Bank Group. Both parties partnered in 2020 to launch the $60 million Distressed Asset Recovery Platform Programme that focuses on the acquisition and resolution of distressed assets across emerging markets. This programme helped many customers across the region meet their financial obligations and regain creditworthiness. IFC is also a minority equity shareholder in Collectius. In addition, Collectius recently acquired NPL portfolios from a leading super app in Southeast Asia, as part of a regional deal that covers five countries including Vietnam. Through these NPLs acquisitions, Collectius now serves more … [Read more...] about Collectius acquires more than $800 million of non-performing loans in Vietnam

In detail, decision No.760/QĐ-CTN signed by State President Nguyen Xuan Phuc noted that Colonel Bui Van Nhien, a non-commissioned officer of the Political Department of Factory Z195 under the General Department of Defense Industry, was posthumously conferred with the Bravery Order for his self-sacrificing act to save a drowning child. Previously, on June 26, while on vacation in Phu Quoc, Kien Giang province, Colonel Nhien heard a call for help as a child was drowning in the waters near the Restaurant Sonasea. Without hesitation, he promptly jumped into the sea to save the victim with the support of rescue staff. Unfortunately, after taking the victim ashore safely, Colonel Nhien showed signs of exhaustion. Although being given first aid, he died on the same day. On June 27, State President Nguyen Xuan Phuc sent a letter of sympathy to the family of Colonel Bui Van Nhien, underlining that his bravery and self-sacrifice have contributed to beautifying the images of Uncle Ho’s … [Read more...] about Non-commissioned Col. Bui Van Nhan posthumously honored with Bravery Order

Vietnam expects to create the utmost favorable environment for foreign companies to be successful in the country. Chairman of the National Assembly Vuong Dinh Hue on June 29 held several meetings with executives of UK multinationals, including Prudential, Standard Chartered, Pacific Land, Pearson, and Enterprize Energy. All executives have expressed their good impression and pledged to commit long-term presence in Vietnam. NA Chairman Vuong Dinh Hue and President of Prudential Shriti Vadera. Source: VNA President of Prudential Shriti Vadera said the company's business performance was positive during the Covid-19 pandemic, expressing her delight to be part of Vietnam’s development. Vadera suggested Prudential could further contribute to the country’s economic growth  by taking part in the long bond issuance. Chairman Hue welcomed Prudential’s successes in Vietnam, saying insurance corporations remain key partners of the State in Government bond issuance. … [Read more...] about UK multinationals pledge long-term presence in Vietnam

The Renewable Energy in Sustainable Industrial Parks conference was organised by the Haiphong Economic Zone Management Board in collaboration with the Embassy of the UK, the nation's Chamber of Commerce and Industry, and Star Do Group. Head of the Haiphong Economic Zone Management Board Le Trung Kien asserted the green development demand of Haiphong city and its industrial parks and economic zones. Photo: Thanh Son Attendees at the conference were Harry Rawicz-Szczerbo, head of the Trade and Investment Department at the UK Embassy; Le Trung Kien, member of the city Party Committee's Standing Board and head of the Haiphong Economic Zone Authority; Mark Shorrock, chairman of Shire Oak International; Nguyen Thanh Phuong, CEO of Sao Do Group; and representatives of Haiphong's departments and agencies, investors, and businesses. Mark Shorrock, chairman of Shire Oak International, talked about the renewable energy demand of businesses in the RE100 group. Photo: Thu … [Read more...] about Haiphong promotes renewable energy investment in industrial parks

A view of the world’s tallest building Burj Khalifa in Dubai. — Photo courtesy of Emirates Emirates offers customers free entry to some of the UAE’s most popular attractions plus many more exciting offers this summer, while the city’s marquee event - The Dubai Summer Surprises - returns with a full calendar of entertainment, culture and family activities. Whether returning to Dubai or visiting for the first time, Emirates customers can enjoy free entry to these top-rated UAE attractions, including the world’s tallest buildings, Burj Khalifa, Dubai Fountains Boardwalk, and Louvre Abu Dhabi. These summer specials are valid for travellers who book a return trip to Dubai in any cabin class between June 27 and July 10, 2022, for travel from July 1, 2022, to September 30, 2022. The Emirates boarding pass also doubles up as a discount card for the summer until September 30 2022. Members of Emirates’ award-winning loyalty programme, Skywards, can earn Miles on everyday … [Read more...] about Emirates offers summer special promotion in Dubai

Hanoi's GRDP growth in the first half of this year shows the economic recovery with the development of many key industries. Hanoi's economy has posted solid growth in the first six months of 2022, director of the municipal statistics bureau Dau Ngoc Hung said at a press conference on June 30. The city's gross domestic product (GDP) has expanded by 7.79% compared to the same period last year, in which, growth in the first and second quarters was 6.02% and 9.49%, respectively, Hung said. He stressed that GRDP growth in the first half of this year is higher than that in the six-month periods in recent years, showing a clear trend of recovery and development quarter after quarter of key industries. In addition, the services sector in the first six months of the year increased by 9.05% year-on-year (with increases of 6.4% and 11.68% in the first and second quarters, respectively) and contributed 5.91 percentage points to the growth of GDP. Director of the Hanoi … [Read more...] about Hanoi’s economy posts solid growth in first half of 2022