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The Italian Chamber of Commerce in Vietnam (ICHAM) together with the Embassy of Italy held a press conference on June 1 regarding the upcoming “True Italian Taste 2020”. Italian Ambassador to Vietnam Antonio Alessandro speaks at the press conference (Photo: VNA) The programme, first launched by the Italian Government in 2018 in 40 countries and territories, aims to promote Italian cuisine and this Vietnamese edition will be the first staged by ICHAM since the COVID-19 pandemic broke out. “True Italian Taste 2020” will feature four main activities. The one specialising on pasta - a traditional Italian dish - will be held at the Caravelle Saigon Hotel on June 3 with the participation of three well-known Italian chefs in HCM City. Speaking at the press conference, Italian Ambassador to Vietnam Antonio Alessandro said pasta has become an iconic Italian dish and is now served around the world. A global survey by charity Oxfam named it the world’s most popular … [Read more...] about Italian cuisine under spotlight during June

Some participants in the online workshop launching the 2020 POBI report on June 3 (Photo: VNA) Hanoi (VNA) – The 2020 Provincial Open Budget Index (POBI) has the average score of 69.09 out of 100 points, up 3.54 points from the previous year, with the Mekong Delta province of Vinh Long topping the rankings. Results of the 2020 POBI survey, conducted by the Budget Transparency, Accountability and Participation (BTAP) Alliance, the Vietnam Institute for Economic and Policy Research (VEPR), and the Centre for Development and Integration, were released via an online workshop on June 3. The survey showed that last year, 27 provincial-level localities fully publicised documents and information about the State budget, three localities more than  2019. Meanwhile, those publishing relatively sufficient information numbered 29, up two localities. The numbers of those with insufficient or little information stood at five and two, respectively declining four and one from … [Read more...] about Vinh Long province tops 2020 open budget index rankings

Demand for deposits soar as cashless payments become more popular A consumer is making a payment via QR Code. Statistics of the State Bank of Vietnam showed that there were more than 104 million valid individual payment accounts at banks as of the end of March, with a total outstanding sum of more than 741.3 trillion VND (31.9 billion USD), representing a rise of 11.2 percent against the end of 2020. Individual checkable deposits rose by three times during the past five years with a considerable increase since 2020. Specifically, individual checkable deposits rose by 55 percent against the end of March 2020. In comparison, individual deposits, including both demand and time deposits, increased by more than 5.5 percent from the end of March 2020 to the end of February 2021. The central bank said that the increase in demand deposits at banks was attributed to the results of the financial banking system’s digital transformation process together with the development … [Read more...] about VIETNAM BUSINESS NEWS JUNE 5

Twenty-seven out of 63 provinces/cities have fully disclosed information on their respective budgets this year, scoring 75 points and over, while in 2017, none was able to do so. Vietnam provinces and cities have made steady efforts in improving budget transparency, reflected by an average score of 69.09 out of 100 in the 2020 Provincial Open Budget Index (POBI), 3.54 points higher than the previous year’s edition. Overview of the online conference. Photo: Ngoc Thuy “Budget transparency is key to ensure good governance,” said Nguyen Thu Huong, senior program manager-governance of Oxfam in Vietnam at the launching workshop of 2020 POBI today [June 3]. “A government with high level of transparency and active public participation in budget oversight would boost accountability for greater efficiency and fairness in budget management,” she noted. “This is particularly important for Vietnam’s target of achieving global standards on transparency for further … [Read more...] about Vietnam’s localities show steady improvement in budget transparency

Local governments have become more transparent with public spending and are showing better practice publicising documents related to State budget spending, according to a report published on Thursday. Tax officers meet with taxpayers at the Hanoi Taxation Department. — Photo hanoimoi.com The 2020 Provincial Open Budget Index (POBI) report released by Budget Transparency, Accountability and Participation (BTAP) showed the average transparency score out of 100 for provinces and cities increased from 65.55 in 2019 to 69.09 in 2020. The increase is seen as modest compared to previous years as the average scores in 2018 and 2017 were 51 and 30.5 respectively. In 2020, 27 localities publicised all required information about local budgets, three more than a year prior. Twenty-nine other localities publicised almost all the required budget documents while seven provinces rarely publicised the budget documents. Researchers surveyed 63 cities and provinces regarding two … [Read more...] about Localities more transparent with their public spending: report