Illustrative photo. (Source: VNA) Hanoi (VNA) – It will be a challenge to keep Consumer Price Index ( CPI ) growth under 4 percent this year, according to an economist. Vietnam's CPI picked up 2.1 percent in the first four months of 2022 , much higher than the same period last year’s 0.89 percent but still lower than that of 2017 (4.8 percent) and 2020 (4.9 percent), commented Dr. Tran Toan Thang, head of the Department of Industrial and Business Forecast at the National Centre of Economic Forecast and Information. April CPI advanced 2.09 percent compared to December 2021 and 2.64 percent year-on-year as a result of an increase in prices of nine out of eleven commodities and services. Prices of transport services surged 16.59 percent last month, causing the overall CPI to gain 1.6 percentage points. As major economies like the EU, US, and UK are seeing inflation climbing to record highs in decades, it still looks okay for Vietnam, he said. However, he warned that … [Read more...] about Keeping CPI below 4 pct this year a challenge: Economist
Vietnam life covid 19 caregiving service in high demand amid surging infections in hanoi
The following is the full text of the speech. “SINCERITY, TRUST AND RESPONSIBILITY FOR A BETTER WORLD” Dear Dr. John Hamre, President and CEO of the Center for Strategic and International Studies, Ladies and gentlemen, I am very happy to visit the Center for Strategic and International Studies for the first time today, though this is far from the first time I hear of the CSIS, a top American think tank in the field of foreign strategies and policies and international issues. Seventy-seven years ago, President Ho Chi Minh, the national hero of Vietnam and great man of culture, prefaced the Declaration of Independence establishing the Democratic Republic of Vietnam with this untarnishable fact, “All men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are Life, Liberty and the Pursuit of happiness.” This was the spirit enshrined within the 1776 Declaration of Independence of the United States of America; it … [Read more...] about Remarks by PM Pham Minh Chinh at CSIS in Washington D.C.
Techcombank is on track to be among the top ASEAN banks Techcombank’s rise within the Vietnamese banking industry was highlighted last year when it became the first non-state-owned bank to join Vietnam’s billion-dollar profit club. “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 to 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 per cent in 2020 to 50.5 per cent last year, well on its way to the bank’s target of 55 per cent by 2025. Techcombank’s net interest margin, a measure of the difference between the interest … [Read more...] about Techcombank on track for a seat among the top ASEAN banks