Regarding VPBank, its board of management will request approval from shareholders to lower the foreign ownership limit to 15 per cent from the current 23 per cent, as well as launching a treasury buyback for 5 per cent of shares to realign the ownership structure. Despite the shrinking foreign ownership cap, VPBank boasts immense potential thanks to its stellar performance. The bank posted robust net profit growth of around 62.7 per cent on-year in the first quarter of 2020 amidst the outbreak, thanks to efficient cost control and risk management. … [Read more...] about Upcoming EVFTA to fortify lenders
Meeting note taking
HCM City (VNA) - HCM City authorities are helping companies access new technologies by promoting linkages between researchers and businesses, but more collaboration is needed, speakers said on May 28 at a meeting in the city. Trieu Thanh Son, deputy head of the Research Management and Cooperation Department under the HCM City Institute for Development Studies, said the city has been offering assistance to companies in registration of intellectual property rights and fostering linkages between researchers and businesses. “HCM City is now promoting the science and technology market to enable companies to adopt new technologies and increase their labour productivity.” More collaboration between academia and businesses, however, is needed so that research results can be converted into practical technology, he added. Nguyen Anh Ngoc, deputy director of HCM City Investment and Trade Promotion Centre, noted … [Read more...] about HCM City fosters linkages between academia, companies
The Hanoi Department of Labor, War Invalids and Social Affairs has requested district People's Committees to screen 1.477 million employees eligible to receive the aids, of them 840,000 are people without labor contracts and have lost their jobs. Currently, the districts keep identifying the beneficiaries in accordance with the process and procedures. … [Read more...] about Latest Coronavirus News in Vietnam & Southeast Asia May 29
Saebel: Local tourism can certainly offer a certain supply of customers; however, with the massive hotel expansion which we have experienced over the last few years, it is impossible to fill rooms in a profitable way. We certainly see reluctance in F&B sectors, with once crowded restaurants currently sparsely occupied. During times of emergency, people tend to lean toward frugality and the luxury of a hotel stay becomes an unnecessary expense. … [Read more...] about How should Vietnam prepare for post-pandemic tourism recovery?
Additionally, there has been growing investor interest across Vietnam's wind sector over the past year, which has strengthened the pipeline significantly. Most notably, Enterprise Energy has plans to build the Ke Ga offshore windfarm in Vietnam with a 3.4GW capacity, which will be the largest offshore wind farm in the region if it comes to fruition. The project has registered some progress, given that PM Phuc has requested for a formal proposal for the project to be included into the country’s power development plan. … [Read more...] about Vietnam wind power sector to see growing opportunities: Fitch Solutions