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Representative of the Presidential Council of Box Hill Academy Laura Macpherson and KOTO instructors award certificates to trainees at a ceremony on June 21. — Photo KOTO Viet Nam's first social enterprise, KOTO, commemorated the graduation of 95 trainees at a ceremony in Ha Noi on June 21, celebrating years of training excellence. After being postponed for three years due to COVID-19, the 2022 graduation ceremony recognised 95 graduates from Class 34, 35, 36 and HER TURN Class 5. The event, themed “Resilience”, not only acknowledged the adaptability of KOTO and its people through the pandemic but also demonstrated its origins. “For the last 23 years, KOTO has always been resilient. We were a disruptor in our approaches to making a difference ahead of our time," said Jimmy Pham, KOTO Founder and Executive Chairman. "From combining business with charity, putting vocational education training to the forefront and making it relevant to instilling values in our trainees, so … [Read more...] about KOTO celebrates 2022 graduation

A gas station of the violating company Today the Market Management Department in Binh Duong Province said that the provincial People's Committee province has just issued an administrative fine of nearly VND900 million on the Binh Duong Pham Vu One Member Company in Hoa Loi Ward for selling goods with quality that does not conform to technical regulations. Previously, on May 23, 2022, the inspection team of Binh Duong Province's Information Management Department coordinated with the Sub-Department of Standards, Metrology and Quality, and Binh Duong Provincial Police to pay a visit to the company. Through a quick test of Ron 95-III gasoline at the facility with octane values of 101.1 and 101.6, samples were sent to the Technical Center for Standards, Metrology, and Quality 3 for further test. The further test results showed that nearly 11,500 liters of gasoline were not of good quality, so inspectors proposed the local administration impose an administrative sanction on the … [Read more...] about Company gets nearly US$38,880 fine for selling poor-quality gasoline

In the past two months, Vietnam’s retail fuel prices have set up new records five times. Curbing the rise of petrol prices are essential for Vietnam to contain inflation, stabilize macro-economic conditions, and support economic recovery, for which scrapping excise tax on this product should be considered. A petrol station in Hanoi. File photo The Vietnam Chamber of Commerce and Industry (VCCI) gave its view on the draft resolution of the Ministry of Finance (MoF) on revising the tax rates for petroleum products. The move, however, could only be seen as a long-term solution, as any decision on the cut of excise and value-added taxes for petrol products are subject to the ratification of the National Assembly, with the upcoming session scheduled to take place in late 2022. In this regard, the VCCI expressed its support for MoF’s suggestion to further cut the environmental protection tax on fuels and gas products, saying such a move could be done right in … [Read more...] about VCCI proposes to scrap excise tax on petrol

The program inspires and provides practical instructions and tools for developing business roadmap for circular transition. More than 100 businesses from the Northern, Central, and Southern regions of Vietnam have benefited circular economic capacity building program provided by the United Nations Development Programme (UNDP) in Vietnam and the Netherlands Embassy in Hanoi. Participants share business capacity building models. Photos: UNDP Vietnam The businesses representing various industries, including agriculture, plastics, environment and waste management, building materials, cuisines, and fashion join the program which is aimed to inspire and provide practical instructions and tools for building, applying the recommended circular business models and developing enterprises’ roadmap for the circular transition. The “Circular Economy Capacity Building Program for Enterprises in Vietnam” (#CECapacityBuilding) also provides information on circular economy … [Read more...] about UNDP, Netherlands boost circular economy capacity building for Vietnam businesses

Illustrative photo. Speaking with Saigon Investment about the credit room, Dr. HO QUOC TUAN, University of Bristol, U.K., said that the world has seen several periods of crisis as currently present today. The general lesson that can be learnt when using credit lines is that many loans will turn into non-bank loans, so it is more difficult to control. When borrowing from banks, there are rules on capital adequacy besides many other regulations. When using the credit tool, the purpose to be achieved is not clear and it is not easy to set specific limits. JOURNALIST: - Sir, what do you think about the State Bank of Vietnam's opinion that if Vietnam removes the credit limit, then banks will race to credit markets, which will then lead to an increase in interest rates to mobilize and lend, thereby affecting the macro currency? Dr. HO QUOC TUAN: - This is not true at all. Because when the Covid-19 pandemic occurred, or even before the pandemic, central banks were not naive to think … [Read more...] about Roadmap needed to remove credit room