City cooperates with Osaka in emission reduction Kinh Luan By Kinh Luan - The Saigon Times Daily HCMC – HCMC and its sister city Osaka (Japan) signed a memorandum of understanding (MOU) on cooperation in emission reduction on Monday during a visit of HCMC Chairman Le Hoang Quan to Osaka lasting until Friday. In addition to the MOU, an investment and trade promotion conference between HCMC and Osaka was held on the same day with the participation of representatives of 120 enterprises. Osaka’s vice mayor said that the Japanese city would offer credits when transferring knowledge, technology and the urban development-management system while HCMC would be in charge of building a suitable legal framework, according to a member of the HCMC delegation. “Projects will be implemented under the public-private partnership (PPP) format and the two sides will have mayor-level dialogues every year to inspect projects. Besides, lower-level meetings will be held regularly during … [Read more...]
Vietnam Cooperative Bank officially operational on June 24
The Vietnam Cooperative Bank will be fully operational on June 24 with charter capital of 3,000 VND (about 142 million USD) sourced from the State budget, the Central People’s Credit Fund (CPCF) members and other legal entities. The bank, transformed from the CPCF, will take responsibility for dealing with all CPCF’s problems and implementing valid contracts and transactions signed by the CPCF. Under a licence granted by the State Bank of Vietnam on June 4, the Cooperative Bank of Vietnam will be allowed to set up a network of domestic and foreign branches. The bank will have an operational duration of 99 years.-VNA … [Read more...]
Vietnam cooperative bank makes debut
The newly-formed Cooperative Bank of Vietnam (Co-op Bank) made its debut on July 9. The bank, which has a charter capital of 3 trillion VND, was created from the Central People’s Credit Fund. According to Chairman of the Board of Directors Tran Quang Khanh, Co-op Bank will develop and supervise banking services for the system of people’s credit funds. Co-op Bank is different from commercial banks because it was set up by voluntary members who contributed capital in accordance with legal regulations. State Bank Governor Nguyen Van Binh said that the bank model will contribute to meeting the capital demand in rural areas by serving disadvantaged people, low income earners and small enterprises, while limiting loans with high interest rates and ensuring social security and sustainable poverty reduction. The model will also contribute to the development of the collective economic sector, he added.-VNA … [Read more...]
Cooperative bank of Vietnam set up
The Governor of the State Bank of Vietnam (SBV) on June 4 granted a licence to establish the Cooperative Bank of Vietnam at the request of the Central People’s Credit Fund (CPCF), serving as another funding channel for individuals and collectives. Under the licence, the bank will be transformed from the CPCF and headquartered in Nguyen Thi Dinh street, Trung Hoa commune, Cau Giay district, Hanoi. It will have a chartered capital of 3 trillion VND (about 142 million USD) sourced from the State, CPCF members and other legal entities. The bank, which operates nationwide in a 99-year period, will be allowed to set up a network of domestic and foreign branches once getting the SBV’s writing approval.-VNA … [Read more...]
Int’l Economic Cooperation Bank President to Visit Vietnam
Int'l Economic Cooperation Bank President to Visit Vietnam President of the International Bank for Economic Cooperation (MBES) V. V. Bely will visit Vietnam in mid-March to study economic development, state media reported February 28. It will be Bely’s first visit to Vietnam since he became MBES President July 13, 2007. The tour is aimed at studying import-export, investment environment and the government’s preferential policies for international organizations. The MBES official also hopes that the visit will pave the way for the bank to set up and boost relations with several commercial banks to seek for development and cooperation opportunities. MBES is interested in investment in tourism, environmental protection and light industry. The MBES President is scheduled to meet the Vietnamese prime minister and have working sessions with leaders of the Ministry of Finance, Ministry of Planning and Investment, the State Bank of Vietnam, the Hanoi and Ho Chi Minh … [Read more...]
Vietnam Cooperative Bank Officially Established
Vietnam Cooperative Bank Officially Established The Vietnam Cooperative Bank has chartered capital of VND 3,000 billion, including money from the State Budget, People's Credit Funds and other legal entities. On June 4, 2013, Governor of the State Bank of Vietnam signed the license number 166/GP-NHNN to establish the Vietnam Cooperative Bank at the request of the Central People's Credit Fund. This license takes effect as of the date signed. According to the license, the Vietnam Cooperative Bank is headquartered at 15T Nguyen Thi Dinh street, Trung Hoa ward, Cau Giay district, this bank has chartered capital of VND3,000 billion, including money support from State budget, People's Credit Funds and other legal entities. The license has validity of 99 years duration. The Vietnam Cooperative Bank has operation scope over the whole territory of Vietnam, is able to establish its branches domestically and internationally if formerly accepted by the State Bank of Vietnam. The Vietnam … [Read more...]
Kon Tum – HCM City: Cooperation for Joint Development
Kon Tum - HCM City: Cooperation for Joint Development After 10 years of carrying out the socioeconomic development cooperation programme from 2006 to 2015, with the ongoing efforts of the government, businesses and citizens, the traditional relationship between Kon Tum province and Ho Chi Minh City continues to be consolidated and strengthened. The fruitful cooperation has produced important results in all aspects like economic growth, economic restructuring, poverty reduction and people’s livelihood improvement. Specifically, tourism cooperation promotion and advertisement was effectively organised by two localities, brought in remarkable results, contributed to stable tourist arrival growth, created and introduced the image of Kon Tum - a friendly, hospitable destination - to HCM City residents and visitors alike. Besides, the cooperation provided business opportunities for local tourism companies to exchange experience, join hands to expand the market, and contact with … [Read more...]
Vietnamese, Chinese Cities Cooperate in Sea Route Promotion
Vietnamese, Chinese Cities Cooperate in Sea Route Promotion Officials from Ha Long Bay, the renowned World Heritage Site in northern Quang Ninh province, and China’s Beihei City have signed an agreement in Guangxi, bringing the two cities together in a spirit of cooperation to develop tourism, trade and human resource training. The two sides will work together to market tourism between the two cities and the two countries generally, enhance the quality of tourism services and increase their mutual knowledge. To further strengthen ties between the two localities, delegations will be sent in both directions each year for exchanges of trade, culture and tourism. Quang Ninh and Chinese Guangxi inked a deal last year to reopen a roundtrip tour after two years without such a service. Accordingly, tourists will arrive at Guangxi province on the Vinashin Rose hydrofoil departing from Hong Gai port in Quang Ninh, home to the world heritage site, Ha Long Bay. The two countries plan … [Read more...]
City encourages banks to loosen credit
HCM CITY — A major conference will be held soon in which banks will describe their lending conditions, including preferential measures, to enterprises that need access to bank loans, according to HCM City People's Committee vice chairwoman, Nguyen Thi Hong. Hong made the announcement last Saturday at a People's Committee meeting to discuss Government Resolution No13, which deals with helping businesses overcome difficulties. In recent months, the committee has been working with the State Bank of Viet Nam's (SBV) branch in HCM City, districts, associations and industry sectors to set up meetings between banks and enterprises. As a result, within one month, about 4,200 enterprises involved in four priority sectors received bank loans worth a total of VND21 trillion (US$1.08 billion) at the interest rate of 13 per cent. Hong, however, said this figure was modest compared with the real demand from businesses. The Saturday conference also heard a report on city-based bank operations … [Read more...]
Cooperative bank established
The Governor of the State Bank of Viet Nam granted a license to establish the Cooperative Bank of Viet Nam at the request of the Central People's Credit Fund on Tuesday.— Photo cafeland HA NOI (Biz Hub)— The Governor of the State Bank of Viet Nam granted a license to establish the Cooperative Bank of Viet Nam at the request of the Central People's Credit Fund on Tuesday. The bank will be headquartered in Nguyen Thi Dinh street in Ha Noi's Cau Giay District. Its charter capital will be VND3 trillion (US$142 million) sourced from the State, the fund's members and other legal entities. The bank, licensed to operate nationwide for 99 years, will be allowed to set up a network of domestic and foreign branches once it secures the central bank's written approval.—VNS … [Read more...]