Minh believed that bad debt settlement will be effective due to upbeat signs in the property market, the National Assembly’s legal provisions for bad debts and the bank’s restructuring project. The bank’s profit before taxes was estimated at VND428 billion (US$18.8 million) in the first half of the year, up 70.4% year-on-year, according to the bank’s report. Its total assets stood at nearly VND353 trillion (US$15.5 billion).  During the first six months, customer lending and capital mobilised from individuals and economic organisations exceeded VND212 trillion (US$9.3 billion) and VND317 trillion (US$13.9 billion), up 10.1% and 9.7% from the outset of the year, respectively. The bank tackled VND845 billion (US$37.2 million) of non-performing loans in the period and bought back VND247 billion (US$10.9 million) in non-performing … [Read more...]

National Assembly Chairwoman Nguyen Thi Kim Ngan (L) welcomes Speaker of the Parliament of Bangladesh Shirin Sharmin Chaudhury (Source: VNA) Hanoi (VNA) - Speaker of the Parliament of Bangladesh Shirin Sharmin Chaudhury left Hanoi on July 24, successfully concluding her five-day official visit to Vietnam at the invitation of National Assembly Chairwoman Nguyen Thi Kim Ngan. During her stay, she held talks with NA Chairwoman Ngan, and paid courtesy visits to Party General Secretary Nguyen Phu Trong and President Tran Dai Quang. She also paid tribute to late President Ho Chi Minh at his mausoleum, and laid wreaths at the Monument to War Heroes and Martyrs. At the talks and meetings, both sides agreed that the two countries’ traditional friendship and multifaceted cooperation have developed continually since they set up their diplomatic ties 44 years ago. … [Read more...]

A Vietnamese rescue ship on Sunday brought in the body of a Greek crewman and handed it over to relevant authorities on the mainland, online newspaper vov.vn reported. The body of a Greek crewman who died at sea is brought in by a Vietnamese rescue ship. On Saturday afternoon, the Third Zone Maritime Search and Rescue Co-ordination Centre, located in Vung Tau City in the southern province of Ba Ria-Vung Tau, received information that a crewman on the ship Agios Nikolaos I (Cyprus), heading from Singapore to China, had suffered a serious head injury and collapsed. The injured crewman was identified as Laspas Alexandros, 29. The centre immediately got in touch with the HCM City-based Coastal Information Station to transfer the information to local search and rescue agencies. The station’s health workers then gave medical advice to crew members to help their injured colleague. The centre also instructed the ship … [Read more...]

VietNamNet Bridge – Public schools in HCM City need to hire nearly 3,000 teachers for the upcoming academic year starting next month since the number of students and classrooms are set to increase, Sai Gon Giai Phong (Liberated Sai Gon) newspaper reported quoting figures from district education divisions. Public schools in HCM City need nearly 3,000 new teachers for the upcoming 2017-18 academic year since the number of students has increased sharply. — Photo: baotintuc.vn Kindergartens need the highest number, followed by primary- and secondary-level English classes. For instance, Long Thanh My Kindergarten in District 9 and Huong Duong Kindergarten in Tan Phu District each need 16 new teachers. Phuoc Thanh Kindergarten in Cu Chi District needs 15. Other districts requiring large numbers of teachers are Binh Tan, … [Read more...]

Ho Chi Minh City-based Quang Trung Software City has recently launched a bike share scheme, one of various pilot models under its Smart City project.  Accordingly, the bikes under the share scheme will be distributed at fixed spots across the park of Quang Trung Software City (QTSC). The users will use their customer cards (provided by QTSC) to pick up the bikes and then return the vehicles at spots placed around the park. According to plans, four stations will be placed around the QTSC area by the end of July 2017. Lam Nguyen Hai Long, general director of QTSC said, “After finishing the trial period, we will review the process and work on a detailed plan to submit to the city leaders with a view to replicate the model in many other areas in the city.” Besides bike sharing, QTSC is deploying a raft of IT projects to boost management efficiency, such as face … [Read more...]

The good news is that people are today living healthier and longer lives, said Nguyen Van Tan, deputy head of the Department, noting that lifespans have increased by 33 years just over the past five decades. In 1960 the average life expectancy in Vietnam was 40 whereas in 2012, the latest year for which statistics are available, it was 73. Most importantly for younger generations, by reshaping their education plans, they could see their participation in the workforce last longer, which would increase their lifetime earnings and standard of living. It would also be a virtual gold mine for them later in life during retirement. Citing statistics from the World Bank he noted that within 20 years one in seven Vietnamese would be aged 65 or older, and this would create a wider gap between the ‘haves’ and ‘have-nots’ in the absence of proper … [Read more...]

ASEAN Secretary General Le Luong Minh (Source: VNA)   Jakarta (VNA) – Norway commits to enhancing and deepening cooperation with the Association of Southeast Asian Nations (ASEAN) as well as its member countries. The message was conveyed by new Ambassador of Norway to ASEAN Morten Hoglund while presenting his credentials to ASEAN General Secretary Le Luong Minh at the ASEAN headquarters in Jakarta, Indonesia, on July 21. The ambassador praised ASEAN’s important role in maintaining peace, security and stability, and spurring economic growth in the region. ASEAN General Secretary Minh said Norway is the first sectoral dialogue partner of ASEAN to appoint its ambassador to the association, demonstrating the country’s commitment to strengthening its collaboration with the ten-member group. The same day, the second meeting … [Read more...]

The ADC has been investigating zinc-coated steel imported from India and Malaysia. However, only the probe on Viet Nam’s steel has been terminated partially. — Photo hoasengroup.vn Australia’s Anti-Dumping Commission (ADC) has announced a partial rescission of its anti-dumping, anti-subsidy investigation on Vietnamese zinc-coated (galvanised) steel. The ADC, under Australia’s Department of Industry, Innovation and Science, has also been investigating zinc-coated steel imported from India and Malaysia. However, only the probe on Viet Nam’s steel has been terminated partially. Viet Nam’s Ministry of Industry and Trade (MoIT) said the ADC concluded that Vietnamese galvanised steel producers and exporters received countervailable subsidies from the government during the investigation period, but the subsidies were at negligible level. Therefore, … [Read more...]

Ho Chi Minh City’s tourism department is slated to organize the first-ever festival to showcase a fusion of fashion and technology in October in a bid to give both its tourism and textile and garment sectors a boost. The inaugural Fashionology Festival 2017 is scheduled to take place from October 20 to 22 at Nguyen Hue Pedestrian Street in the downtown area. “This is a modern event, featuring an inspiring combination between fashion and the latest performance technology, enhanced by digital interaction, intended to create a new flagship product for Ho Chi Minh City’s culture-tourism development,” the department said in a statement. The festival is an opportunity for Ho Chi Minh City to spur its tourism, and for textile and garment businesses as well as fashion designers to showcase their products, promote their images and reach more customers. According to the tourism department, the Nguyen Hue … [Read more...]

ASEAN enjoys half century of dynamic, comprehensive development (Source: asean.org) Hanoi (VNA) – After 50 years of development, the Association of Southeast Asian Nations (ASEAN) has been internationally recognised as a comprehensive regional cooperative organisation and a cohesive and dynamic political-economic entity that contributes to global connectivity. The association has an important role and position in the Southeast Asian and Asian-Pacific regions with profound political, economic, cultural and social influences.  A spirit of solidarity, consensus and mutual support and respect, along with harmonious combination of national and community interests have helped enhance the association’s position. Over the past half century, ASEAN has proved itself a leading factor in ensuring a peaceful environment, security and cooperation for regional development, … [Read more...]

According to experts, the estimated $3 billion spent by Vietnamese people to purchase US residential property could have been transferred largely through illegitimate ways. The “Profile of International Activity in US Residential Real Estate” report by the US National Association of Realtors (NAR) showed that between April 2016 and March 2017, Vietnamese people spent up to $3 billion buying residential property in the US. Currently, money for buying real estate cannot be transferred through normal banking channels, which begs the question: how did these Vietnamese buyers transfer money abroad to buy real estate? According to Vietnam’s Law on Foreign Exchange Management of 2005 (amended in 2013), Vietnamese people can only transfer money overseas under prescribed circumstances, such as carrying a maximum of $5,000 or equivalent when going through border checkpoints. Additionally, … [Read more...]

NDO/VNA – The Lao Ministry of Education and Sports hosted a talk with students from various schools and the National University of Laos on the special ties between Laos and Vietnam on July 24. The event was meant to celebrate the 40th anniversary of the signing of Treaty of Amity and Cooperation and the 55th anniversary of bilateral diplomatic ties. Speaking at the event, former Lao Deputy Prime Minister SomsavatLengsavath reviewed milestones in bilateral ties and support that Vietnam has provided for Laos in the fields of politics, education, economy, transport, national defence and security. He lauded the Treaty of Amity and Cooperation for bringing benefits to Laos, helping the country stay on track in pursuit of stability and development. The former leader asked students and lecturers to bear in mind the tradition of special ties between Laos and Vietnam while continuing to foster the bilateral relationship. Lao Deputy Minister of Education and Sports … [Read more...]

NDO/VNA – The Lao Ministry of Education and Sports hosted a talk with students from various schools and the National University of Laos on the special ties between Laos and Vietnam on July 24. The event was meant to celebrate the 40th anniversary of the signing of Treaty of Amity and Cooperation and the 55th anniversary of bilateral diplomatic ties. Speaking at the event, former Lao Deputy Prime Minister SomsavatLengsavath reviewed milestones in bilateral ties and support that Vietnam has provided for Laos in the fields of politics, education, economy, transport, national defence and security. He lauded the Treaty of Amity and Cooperation for bringing benefits to Laos, helping the country stay on track in pursuit of stability and development. The former leader asked students and lecturers to bear in mind the tradition of special ties between Laos and Vietnam while continuing to foster the bilateral relationship. Lao Deputy Minister of Education and Sports … [Read more...]

An international alliance of partners are going to launch the Smart Energy Hackathon in Bangkok during September 8-10 to accelerate the development of innovative software solutions to tackle energy challenges in Southeast Asia. The Smart Energy Hackathon is open for applications until August 13 GIZ aims to bridge the digital gap and raise awareness of the software potential for smart energy solutions in Southeast Asia. In order to work towards this vision, GIZ is hosting the Hackathon in collaboration with CalCEF/New Energy Nexus, TechGrind, CU Innovation Hub, and KX, this coming September 8-10 in Bangkok. It is a software developing competition to identify talent and bring new digital technology innovations to solve current energy challenges. The Smart Energy Hackathon constitutes the kick-off for a larger … [Read more...]

Scientists are compiling a crop structure map for the Mekong Delta to counter growing climate change impact in the region known as the country’s food granary. Farmers till a field in the southern city of Can Tho. Scientists are compiling a crop map for the Mekong Delta to counter the growing climate change impact in the region.  The plan will determine which crops would be cultivated and on what scale based on annual weather and natural disaster predictions, said Nguyen Hong Son head of the Department of Cultivation under the Ministry of Agriculture and Rural Development. "The map will help authorities and farmers prepare appropriate production plans," he told a seminar in Can Tho Province last week. However, Son cautioned that the plan cannot cover the entire region, just the large sub-regions of the Dong Thap Muoi and Long Xuyen quadrilateral, Ca Mau Peninsula, coastal areas, and alluvial zones. Bui … [Read more...]

More than 10 art works by classic Vietnamese masters will be auctioned in Hanoi on July 30. Pho Cu (Old Street), oil-on-canvas, by Bui Xuan Phai, size 50 by 60, will be sold at $8,000. The works include 12 paintings of various materials, including water colour, wood-carved sketches and a sculpture by Nguyen Gia Tri (1908-1993), Nguyen Tuong Lan (1906-1946), To Ngoc Van (1906-1954), Tran Van Can (1910-1994), Nguyen Tu Nghiem (1922-2016), Duong Bich Lien (1924-1988), Nguyen Sang (1923-1988) and Bui Xuan Phai (1920-1988). For example, The First Love, drawn by Tran Van Can in 1973 with coloured powder will be sold at an initial price of US$6,000. Old Street, oil-on-canvas by Bui Xuan Phai is among the highlight object at the sale and will be sold at $8,000. Owner of the paintings, monk Thich Minh Thinh, says that he is an art lover but not an art expert. "I got the painting as a gift from a Buddhist who had close … [Read more...]

VietNamNet Bridge – New medical graduates could be required to work for three to five years at healthcare centres in outlying regions to meet a critical lack of doctors and help improve healthcare services there. Young doctors give free-of-charge health examination to residents of Sin Ho District in the northern mountainous province of Lai Chau. New medical graduates could be required to work at healthcare centres in outlying regions to meet a critical lack of doctors. — Photo: VNA/VNS  Pham Van Tac, director of the Personnel Department under the Ministry of Health, said the proposed initiative would require graduates to work at district and communal level healthcare centres, particularly in Viet Nam’s 62 most disadvantaged districts. “In the future, the requirement could be included in a law on … [Read more...]

Vietnam aims to cut the number of traffic accidents and deaths by 5-10 percent annually between 2016 and 2020. (Photo: VNA) Hanoi (VNA) – Vietnam aims to cut the number of traffic accidents and deaths by 5-10 percent every year and lower the number of severe crashes related to coaches and motorbikes between 2016 and 2020. The objectives are parts of a recently approved national target programme on road safety, fire prevention and control and countering crime and drug trafficking for 2016 – 2020. The programme focuses on handling traffic safety violations on several key roads and ensuring order at selected train stations to reduce accidents, particularly at railway crossroads. It also aims to improve traffic flow in big cities like Hanoi and HCM City and prevent traffic jams from lasting more than 30 minutes. In addition, the programme will … [Read more...]

GoBear Vietnam is to launch unsecured loan awareness page on website gobear.com/vn/campaign/vaytienmat. GoBear is Asia’s first and only metasearch engine in insurance and banking products The new awareness page from GoBear Vietnam provides users with a tool to quickly search for unsecured loan offers from professional finance companies in Vietnam, with simple procedures and rapid disbursement time. This tool is designed mainly to help unbanked users, who account for 70 per cent of Vietnam’s population, to save time and efforts when searching for unsecured loan offers that best fit their needs. On this occasion, Tran Nhat Khanh, GoBear Vietnam country director, said: “Unsecured loan is a feasible financial product for most Vietnamese users, especially those who are unbanked or being cash salaried. They cannot … [Read more...]

A transaction at Sacombank. The bank aims to tackle 20 trillion VND (880 million USD) of bad debts in 2017 (Photo: VNA) Hanoi (VNA) – The Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) aims to tackle 20 trillion VND (880 million USD) of bad debts in 2017, with the bank taking drastic measures to implement a restructuring scheme, said its chairman Duong Cong Minh. Minh believed that bad debt settlement will be effective due to upbeat signs in the property market, the National Assembly’s legal provisions for bad debts and the bank’s restructuring project. The bank’s profit before taxes was estimated at 428 billion VND (18.8 million USD) in the first half of the year, up 70.4 percent year-on-year, according to the bank’s report. Its total assets stood at nearly 353 trillion VND (15.5 billion USD). During the first six months, customer lending … [Read more...]