The Hanoitimes - Vietnamese Prime Minister Nguyen Xuan Phuc left Hanoi to Phnom Penh, Camobodia on May 11 to attend the World Economic Forum on ASEAN (WEF-ASEAN) at the invitation of the Cambodian PM Samdech Techo Hun Sen and WEF Executive Chairman Klaus Schwab. Under the title “Youth, Technology and Growth: Securing ASEAN’s Digital and Demographic Dividends”, the WEF-ASEAN 2017 focuses on assessing ASEAN’s development and integration and problems the bloc will face in the time ahead. Other issues on the agenda are ASEAN’s position in the new global geopolitical and economic context, the prospect of the ASEAN Economic Community, and impacts of the Fourth Industrial Revolution on ASEAN countries. Vietnam and the WEF began their cooperative relationship in 1989. Since then, the WEF has become an important dialogue forum between Vietnamese Government leaders and the world’s leading enterprises. Currently, eleven Vietnamese businesses are members of … [Read more...] about PM Phuc leaves Hanoi for WEF-ASEAN in Phnom Penh
Phnom penh post business
Hanoi – Phnom Penh to tighten friendship
The Hanoitimes - On December 26, Chairman of Hanoi People`s Committee Nguyen Duc Chung took over the high-level delegation of Phnom Penh Capital. The delegation led by Mr. Pa Socheatvong, Phnom Penh Capital's Mayor is visiting and working in Hanoi. At the meeting, Phnomphenh's high-level delegation expressed their impression in Hanoi's development achievements. "Hanoi is more and more growing and people's lives are improved better and better. It is thanks to the relentless tremendous efforts of Hanoi's Government", Mr. Pa Socheatvong affirmed. Chairman of the Hanoi People’s Committee Nguyen Duc Chung hosted reception for Phnom Penh Capital's Mayor Pa Socheatvong At the reception, Chairman of the Hanoi People’s Committee Nguyen Duc Chung informed his guests about local socio-economic development and thanked the Governor and administration of Phnom Penh for providing optimal conditions for Vietnamese enterprises, including Hanoi’s, to do business there. Pa … [Read more...] about Hanoi – Phnom Penh to tighten friendship
BUSINESS IN BRIEF 28/2
ASEAN- China railway begins operating A railway that links the Association of Southwest Asian Nations (ASEAN) countries with southwest China's Yunnan province became operational on February 23. After seven years of construction, the railway has a total length of 141 km with a designated maximum speed of 120 km per hour. It goes through 35 tunnels and crosses 61 bridges, which together account for 54.95 percent of the total length of the line. The railway is part of the eastern line of the planned Pan-Asia Railway network. The eastern route starts in Kunming, capital of Yunnan and pass through the cities of Yuxi, Mengzi and Hekou in Yunnan to connect with Vietnam, Laos, Thailand and Singapore . It is expected to boost land transportation and provide a more convenient passage for exchange and trade between China and ASEAN member countries. Drought to be severe this year, meteorologist Le Thanh Hai, deputy director of the National Hydro Meteorological Forecasting Center, on … [Read more...] about BUSINESS IN BRIEF 28/2
BUSINESS IN BRIEF 23/2
Credit growth negative for last two months The credit growth of the banking system as of Tuesday stood at minus 0.16% against late 2012, versus minus 1% in January and minus 3% in the same period last year, according to the Credit Department of the State Bank of Vietnam (SBV). The credit growth for 2013 is set at 12%, counting banks' investment in government bonds. A senior source from SBV said whether this target can be achieved or not greatly depends on the capital absorptive capacity of the economy and the health of enterprises. The Credit Department said it would continue to strictly manage credit quality of banks to prevent capital from flowing into inappropriate places, producing no effect. Classification of credit groups will be announced soon. SBV will take into account governance capacity and capital scale of each bank and then list them into groups with specific credit growth limits. Strong banks that have already merged with weak banks resulting in higher bad debt … [Read more...] about BUSINESS IN BRIEF 23/2
BUSINESS IN BRIEF 13/2
Stock markets perform poorly in 2011 Up to 60 percent of listed firms on both stock markets had poor performance, and 85 firms were mired in the red last year, said the State Securities Commission. The final statistics is not yet available though most listed firms have submitted their financial statements. However, SSC said 2011 was a grim year for the economy, especially for the equity market. Listed firms had to grapple with many problems, from higher interest rates to high input costs and difficulties to mobilize funds. Understandably, the number of loss-making enterprises in 2011 was higher than in the previous year: 85 compared to 50. Property companies suffered the most, followed by construction, sea-freight, power generation and financial enterprises. Property companies suffered the most, followed by construction, sea-freight power generation and financial enterprises. Quoc Cuong Gia Lai Joint Stock Co. (QCG) posted the accumulated losses for the whole year of 2011 at … [Read more...] about BUSINESS IN BRIEF 13/2