Retailers digital transformation

Many banks set high profit targets this year. (Photo: Vietnam Plus) Hanoi (VNA) - Many banks have set high profit ambitions for this year due to rising credit demand and the grand march of continued economic recovery. Vietnam’s gross domestic product (GDP) in the first quarter of this year increased 5.03% year-on-year, higher than the 4.72 percent growth rate in the same period last year. As of March 21, credit growth had risen by more than 4%, 2.7 times higher than at the same time last year. In the recently published 2021 annual report, the management board of the Military Commercial Joint Stock Bank (MB) said that in 2022, the bank aims to increase total assets by 15% compared to the previous year and charter capital by 19.4%. Notably, it targets 20.3 trillion VND (869 million USD) in pre-tax profit this year, up 23% year-on-year. At the recent meeting of shareholders, the Vietnam International Commercial Joint Stock Bank (VIB) approved a plan with an expected profit … [Read more...] about Banks to book impressive profits for 2022 as economy recovers

The seminars discussed AI solutions in finance-banking, training and connecting AI human resources, and automation in production. As heard at these events, the Accenture's latest report showed that more than 60% of companies operating in the financial - banking sector are testing AI. Pham Quang Vinh from Viettel Cyberspace Centre said in the next three years, the accumulation of AI database will bring great value, contributing to solving many problems. Pham Hien, a researcher from the Commonwealth Scientific and Industrial Research Organisation (CSIRO)’s Data61, introduced a project on the AI market in Vietnam, which is built exclusively for the formation and strengthening of the AI ecosystem in the nation. It focuses on developing databases and algorithms to automatically collect, store and update profiles of Vietnamese AI experts at home and abroad; an index to track the development of AI in Vietnam; and business models to enhance research-industry collaboration in the field, … [Read more...] about Seminars kick-start Vietnam Artificial Intelligence Day 2022

He made the statement at the 2022 Vietnam-Germany Economic Cooperation Conference held in Frankfurt on September 22 by the Trade Promotion Agency (TRA) under the Ministry of Industry and Trade, the Trade Office at the Vietnamese Embassy in Germany, Consulate General of Vietnam in Frankfurt and the German Federal Association for Economic Development and Foreign Trade (BWA). The event drew the participation of representatives from 25 Vietnamese enterprises operating in fields such as garment and textile, agricultural products, handicrafts, and pharmaceuticals, as well as more than 50 delegates representing German and Vietnamese businesses in Germany. Long emphasised that there is still room for expanding cooperation between the two economies. Le Hoang Tai, Deputy Director of TRA, said that it is necessary for businesses to increase promotion activities and step up the application of information technology and digital transformation to improve their effectiveness. At the event, … [Read more...] about Conference seeks to promote trade between Vietnamese, German businesses