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"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 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 percent in 2020 to 50.5 percent last year, on its way to the bank’s target of 55 percent by 2025. Techcombank’s net interest margin (NIM), a measure of the difference between the interest received by the bank and the amount paid out to lenders, also increased 69 basis points to 5.6 percent during the year. "Together, these improving metrics, along with our effective cost management, translated into an excellent profit before tax … [Read more...] about Techcombank eyes seat at top Southeast Asian banking table

Many delegates discuss solutions to reduce congestion at Cat Lai Port in HCMC. (Photo: SGGP) The workshop attracted more than 70 delegates from customs authorities, ministries, and the business community to discuss this action plan. At the workshop, the relevant units announced 21 recommendations to improve the operational efficiency of Cat Lai Port to meet the increasing demand. Before the Covid-19 pandemic, the port was operating at full capacity. Meanwhile, the demand calculated by the number of containers is forecast to double by 2030. The above 21 recommendations are the results of a pre-feasibility study on congestion prevention and logistics facilitation at Cat Lai Port conducted by the Trade Facilitation Project funded by the USAID from May 2020 to March 2021. The study comprehensively reviewed port operations on an area of 160 hectares to assess operational efficiency, bottlenecks, and shortcomings in the process of enhancing the handling capacity of the port. On … [Read more...] about HCMC cooperates with USAID to ease container congestion at Cat Lai Port

A panel discussion at the conference on strengthening ‘Public-Private Partnership for sustainable healthcare transformation’ in Hanoi on May 18. (Photo: VNA) Opening the event, the newspaper's editor-in-chief Le Trong Minh said that Vietnam's health sector faced many challenges, such as increasing infectious and non-communicable diseases, hospital overcrowding, shortage of supplies and equipment, the ageing population as well as the disparity between regions and healthcare levels in terms of quality of medical services and standardisation of modern equipment. “For the health system to be capable and always ready to respond to future situations, towards a comprehensive and sustainable health care system, it is necessary to have new investment orientations in social resources for the health system, as well as stronger cooperation from the parties involved, including the Public-Private Partnership (PPP) method,” said Minh. At the event, MPI deputy minister Tran Duy Dong said it … [Read more...] about Conference discusses Public-Private Partnerships in healthcare

Processing tra fish for export. (Photo: SGGP) It is expected to boost the export of Vietnamese pangasius to the US market in the near future. The six facilities are the Hop Nhat Seafood Corporation, Atlantic Seafood Freezing factory, Basa Mekong factory, High grade pangasius product exporting & Processing Factory, Co May 2 seafood processing export factory and CK Frozen Food Vietnam Co. Ltd. NAFIQAD also noted that factories should comply with the provisions of the program on controlling food safety for siluriformes fish and fish products exported to the US issued in Decision No. May 22, 2020 and instructions in Official Letter No. 803/QLCL-CL1 dated June 18, 2020, ensuring that the entire chain of production, processing and export of pangasius fully meets the regulations of both Vietnam and the US. The Centre for Agro-Forestry-Fisheries Quality Zone 4 and 6 will appraise and issue certificates for pangasius shipments of these factories to the US market in accordance with … [Read more...] about Six more pangasius processing factories eligible to export to US

Principal Song Hyun-seop said Vietnamese has been included in the school’s curriculum as a second foreign language since April 2019. Explaining this decision, he said Vietnam and the RoK enjoy many historical and cultural similarities, noting that the Ly clan from the Southeast Asian nation came to his country very early, forming the first foundation for bilateral connectivity. Over the last 30 years, Korean enterprises have poured huge investment into Vietnam, which has created a large Korean community in Vietnam. In return, there are also many Vietnamese people in the RoK. Therefore, the Vietnamese language skills have become highly useful, and including it in career counselling for high school students is of great necessity for them to gain momentum for learning and future development, Song noted. With the employment of two Vietnamese-language teachers who have high capacity and deep understanding of the Korean culture, Myeonmok has held weekly meetings with all of its … [Read more...] about Vietnamese language included in Korean school’s career counseling for students

Vietnamese Deputy Defense Minister Senior Lieutenant General Hoang Xuan Chien affirmed that while delivering a speech at the ASEAN Defense Senior Officials’ Meeting Plus (ADSOM+) in Phnom Penh on May 18. The Vietnamese deputy defense minister also emphasized that the security and safety of navigation and aviation in the East Sea (or South China Sea) is extremely important for countries in the region and the Association of Southeast Asian Nations (ASEAN). Therefore, it is essential to observe the Declaration of the Conduct of Parties in the East Sea (DOC) and accelerate the early signing of a practical and effective Code of Conduct in the East Sea (COC). The head of the Vietnamese delegation expressed his wish that all countries would settle conflicts and disagreements by peaceful means, on the basis of respecting international law and the United Nations Charter as well as ASEAN's basic principles. He added that besides emerging non-traditional security challenges, there have been … [Read more...] about Vietnam affirms consistent stance of settling disputes by peaceful means at ADSOM+

The trip has contributed to promoting the relations between the Association of Southeast Asian Nations (ASEAN) and the U.S., and between Vietnam and the U.N. and the U.S., while affirming Vietnam’s role and prestige in the international arena. During his week-long stay in the U.S., the PM visited the four cities of Washington D.C, Boston, New York, and San Francisco, with more than 50 activities. He attended and delivered speeches at the summit, and met with ASEAN leaders, including his counterparts from Laos, Cambodia and Singapore, and the Indonesian President. Chinh also had meetings with U.N. Deputy Secretary-General Amina J. Mohammed, UNICEF Executive Director Catherine Russel, President of the U.N. General Assembly Abdulla Shahid and Administrator of the U.N. Development Program (UNDP) Achim Steiner. He met President Joe Biden, and received senior officials of the U.S. government such as Secretary of State Antony Blinken, Secretary of Commerce Gina Raimondo, Secretary of … [Read more...] about Prime Minister Pham Minh Chinh concludes U.S. trip

Thang co-chaired the seventh theory dialogue between the Communist Party of Vietnam (CPV) and the Social Democratic Party of Germany (SDP), during which the two parties exchanged views on a number of both theoretical and practical matters. Discussions have placed an emphasis on Vietnam’s energy transition strategy to ensure national energy security and fulfill international commitments; developing green agriculture in Vietnam in the era of the Fourth Industrial Revolution; green growth and climate resilient models in some Vietnamese localities; and the path towards an eco-social market economy and advantages and challenges to energy transition and green agriculture development in Germany. The Vietnamese official also had a meeting with SPD Co-leader Lars Klingbeil. He spoke highly of the long-standing friendship between the two parties and the SPD’s efforts in co-hosting the seventh dialogue, and proposed both sides to further expand their relations in the coming time, contributing … [Read more...] about Renewable energy, climate action prioritized in Party official’s visit to Germany

In 2000, the canal that flows two kilometers through Districts 5 and 6 was filled up following heavy pollution and serious encroachment. By then, the canal spread only two kilometers wide with blackish and stinky water. To continue its drainage function, a concrete box culvert was installed. Fifteen years later, the city decided to recover the canal with a three-phase project that cost VND2 trillion ($86.2 million) to build a drainage system and relocate affected households. The project was to complete in 2020 but got delayed. In 2020, a section 200 meters long and 14-16 meters wide in District 6 was revived, with the two banks turned into a park. At a section meeting Lo Gom Canal in District 6, work has been deployed to establish a water pumping station. To revive the canal, more than 24,000 cubic meters of soil and rock has been dug up. Around one kilometer away, a section 100 meters long between Chu … [Read more...] about HCMC revives polluted canal with $86.2-million project

Lenders reinforcing presence with bond issuance, Photo Shinhan Bank Vietnam Shinhan Bank Vietnam last week successfully issued bonds totalling VND2.8 trillion ($121.7 million), with a tenor of two years. CEO Kang Gew Won explained to VIR, “This is the first time that Shinhan Bank Vietnam has issued bonds in the Vietnamese market. This offering reinforces Shinhan Bank’s long-standing relationship with Vietnam. Our bank will use these proceeds from the bond sale to expand the bank’s credit activities, diversify its capital sources, serve its business objectives, and also ensure the bank’s long-term development.” On April 20, Shinhan Bank Vietnam also formally announced the use of the liquidity reserve ratio and net stable capital ratio in liquidity risk management, in accordance with Basel III standards. In recent times, the bank has been continuously assigned a BB rating by Standard & Poor’s, with a “Positive” outlook. Prior to Shinhan Bank, HSBC Vietnam became the … [Read more...] about Lenders reinforcing presence with bond issuance