Business

Business impact statement "Impact" can bear different meanings to specific people and context. Particularly at Unilever, the impact statement that the business is pursuing is “making sustainable living commonplace”. “Our compass is to bring sustainability to every home. This is our corporate DNA. Because sustainable development does not only appear at Unilever, but a country and society also need to develop sustainably to drive the growth of businesses”, Ms. Bich Van shared at the conference. Unilever Vietnam Chairwoman Nguyen Thi Bich Van (right) speaks at the summit Putting its first step in Vietnam since 1995, Unilever has accompanied and grown with the country in both economic and social aspects through the mission of improving hygiene, health and beauty for millions of Vietnamese people with purposeful products, as well as creating more positive impacts on the environment and people's lives. Sustainable development is the driving force for the business … [Read more...] about Unilever Vietnam Chairwoman shares the impact business statement

He made the statement at the 2022 Vietnam-Germany Economic Cooperation Conference held in Frankfurt on September 22 by the Trade Promotion Agency (TRA) under the Ministry of Industry and Trade, the Trade Office at the Vietnamese Embassy in Germany, Consulate General of Vietnam in Frankfurt and the German Federal Association for Economic Development and Foreign Trade (BWA). The event drew the participation of representatives from 25 Vietnamese enterprises operating in fields such as garment and textile, agricultural products, handicrafts, and pharmaceuticals, as well as more than 50 delegates representing German and Vietnamese businesses in Germany. Long emphasised that there is still room for expanding cooperation between the two economies. Le Hoang Tai, Deputy Director of TRA, said that it is necessary for businesses to increase promotion activities and step up the application of information technology and digital transformation to improve their effectiveness. At the event, … [Read more...] about Conference seeks to promote trade between Vietnamese, German businesses

Many banks set high profit targets this year. (Photo: Vietnam Plus) Hanoi (VNA) - Many banks have set high profit ambitions for this year due to rising credit demand and the grand march of continued economic recovery. Vietnam’s gross domestic product (GDP) in the first quarter of this year increased 5.03% year-on-year, higher than the 4.72 percent growth rate in the same period last year. As of March 21, credit growth had risen by more than 4%, 2.7 times higher than at the same time last year. In the recently published 2021 annual report, the management board of the Military Commercial Joint Stock Bank (MB) said that in 2022, the bank aims to increase total assets by 15% compared to the previous year and charter capital by 19.4%. Notably, it targets 20.3 trillion VND (869 million USD) in pre-tax profit this year, up 23% year-on-year. At the recent meeting of shareholders, the Vietnam International Commercial Joint Stock Bank (VIB) approved a plan with an expected profit … [Read more...] about Banks to book impressive profits for 2022 as economy recovers

Experts have raised their voices to keep the beauty of Hanoi's pavements and make the city a worth-living region. Hanoi's authorities have been striving for years to find a sidewalk management solution that harmonizes the interests of pedestrians, street vendors, stores, and drivers. Although concerns remain, economic development and increased public awareness may make it easier for the capital city to fulfill its mission. Architect Doan Ky Thanh: Sidewalks management should ensure benefits of three sides Sidewalks are meant for pedestrians. In Vietnam, sidewalks are for walking, parking, socializing, and doing business. The city government should have a way to balance the interests of all three parties, including public agencies that rent their street-front premises to businesses, households that own stores on the street, and the safety of pedestrians. Architect Doan Ky Thanh. Photos: The Hanoi Times Local authorities should open a communication … [Read more...] about Make Hanoi a worth-living place: Opinions

The seminars discussed AI solutions in finance-banking, training and connecting AI human resources, and automation in production. As heard at these events, the Accenture's latest report showed that more than 60% of companies operating in the financial - banking sector are testing AI. Pham Quang Vinh from Viettel Cyberspace Centre said in the next three years, the accumulation of AI database will bring great value, contributing to solving many problems. Pham Hien, a researcher from the Commonwealth Scientific and Industrial Research Organisation (CSIRO)’s Data61, introduced a project on the AI market in Vietnam, which is built exclusively for the formation and strengthening of the AI ecosystem in the nation. It focuses on developing databases and algorithms to automatically collect, store and update profiles of Vietnamese AI experts at home and abroad; an index to track the development of AI in Vietnam; and business models to enhance research-industry collaboration in the field, … [Read more...] about Seminars kick-start Vietnam Artificial Intelligence Day 2022

This is a surge from 2020 when only 9% of respondents used the internet for more than nine hours a day, according to the Vietnam Ecommerce 2022 report by the Vietnam e-Commerce and Digital Economy Agency (iDEA). However, there were declines in internet usage time in other segments. As many as 27% say they use the internet from three to five hours a day, compared to 31% in 2020. Besides, 23% log five to seven hours, against 27% in 2020. Most respondents access the internet on their smartphones. The main reason Vietnamese people use the internet are studying, watching movies or listening to music, and online shopping, said the report, which surveyed 4,584 respondents nationwide. Nearly 75% of respondents say they shop online, while 91% use their smartphones. The top sales categories are "clothes, footwear and cosmetics," "household appliances", and "electronic devices". Cash remains king as 73% pay cash on delivery. But there is a rise in e-wallet usage, from 23% … [Read more...] about One in five Vietnamese spend 9 hours a day online

It has submitted the options to the National Assembly Standing Committee for consideration and passage by the legislature, with the cuts expected to last six months. Under one option, the special consumption tax on petrol, including E5 and E10 biofuels, will be reduced by 50%, and VAT on petrol, jet fuel, diesel, kerosene, mazut, lubricating oil, and grease will be lowered by 20%. Under a second option, the special consumption tax will again halve while VAT will be cut by 50%, and the loss of revenue is estimated at VND12.19 trillion (US$518.55 million). Over six months, the treasury is expected to lose VND7.43 trillion (US$316.17 million) if these cuts are effected. The ministry said global oil prices would continue to be volatile, and many countries are dealing with high inflation and fear a recession is imminent. So it is necessary to reduce taxes on petrol and oil in a timely manner to curb inflation and spur the economy. … [Read more...] about Vietnam to cut fuel taxes to curb inflation

VinES Energy Solutions Joint Stock Company, a member of Vingroup - Vietnam’s biggest private conglomerate, has received the green light from provincial authorities to build the battery plant in Vung Ang Economic Zone in Ky Anh Town, Ha Tinh Economic Zone Management Board, which manages Vung Ang Economic Zone, said Saturday. Covering an area of over 14 hectares, the plant will produce lithium ferro phosphate (LFP) battery cells used in electric automobiles and energy storage systems. The plant’s design capacity of 5 GWh a year means that it can annually churn out 30 million LFP battery cells. The plant’s construction is expected to complete in the fourth quarter of 2023 or the first quarter of 2024, to commence mass production in the third quarter of 2024. In December 2021, VinES Energy Solutions Joint Stock Company started construction of a battery factory with total investment of over VND4 trillion in Ky Anh Town. Construction of the factory’s workshops has already been … [Read more...] about Vingroup to build $255-mln battery plant

The University of Economics HCM City in collaboration with the Australian Trade and Investment Commission on September 24 launched “Shine with Australia Month”, slated to take place from October 9 to 30. — Photo courtesy of the UEH The University of Economics HCM City (UEH) in collaboration with the Australian Trade and Investment Commission (Austrade) on September 24 launched “Shine with Australia Month”, taking place from October 9 to 30. The campaign attracts 30 top-notch education institutions, both universities and schools from eight Australian states and territories, said Assoc. Prof. Tran Ha Minh Quan, executive dean of UEH’s International School of Business. It aims to teach the Vietnamese public about the uniqueness of diverse Study Australia destinations, institutions and to meet with representatives of eight Australian states and territories, government agencies, alumni and institutions, he said. The virtual fair will feature public talk shows by representatives … [Read more...] about Shine with Australia Month gathers top-notch education institutions

On September 20, 1990, the Gas Company (predecessor of PV GAS) was established, responsible for collecting, transporting, storing, manufacturing, and trading gas and gas products. Over the past 32 years of establishment and development, PV GAS has taken the lead in domestic gas industry. Speaking at the ceremony, PV GAS General Director Hoang Van Quang recalled the corporation’s glorious traditions and expressed deep gratitude for the contribution of former leaders and all staff over the past time. Quang underlined the importance of solidarity and business culture, creating strength for PV GAS and raising its status in the country’s economy. On this occasion, he also called on PV GAS’s workforce to boost internal solidarity, innovative mindset, and professional actions to implement the best and most effective solutions to reach more milestones in the construction and development cause, deserving the trust of the Party, the State, and the Vietnam National Oil and Gas Group … [Read more...] about PV GAS marks foundation anniversary