Banks on road for digital transformation The banking system and credit institutions are the lifeblood of the nation's economy, with digital information in banking and finance set to become one of the key factors in the digital economy, according to experts. The issue was discussed in an online forum “Digital Finance 2021” held by the Vietnam Financial Times last week. Addressing the online forum, Nguyen Viet Hung, deputy head of the Financial Informatics and Statistics Department, told participants that the digital economy, digital government and digital society were three key pillars that supported the national digital transformation programme. "Digital government helps the government operate more efficiently, effectively and transparently. The digital economy promotes innovation, creates new values, new growth engines and helps increase labour productivity. Digital society helps people have equal opportunities to services, training and knowledge, narrows the development gap …
VIETNAM BUSINESS NEWS SEPTEMBER 24
Customs clearance time for exports shortens The average duration for customs clearance for exports last year stood at 38.4 hours, a decline by 57.38 hours compared to 2019, according to a survey of an inter-sectoral working group. The cost for such procedures averaged 338 USD, falling 81.72 USD against 2019. Meanwhile, the time for imports was 54.8 hours, a drop of 48.88 hours. Total cost for the procedures hit 313.17 USD, plunging 256.41 USD. Document digitalisation is among important reasons that help businesses save time and costs for customs clearance for cross-border trade. The deployment of the Vietnam Automated System for Seaport Customs Management (VASSCM) also facilitates port-related activities. According to the General Department of Vietnam Customs, import and export documents in 2020 amounted to 6.75 million and 6.98 million, respectively. Trading across borders indicator set is part of the World Bank’s annual Doing Business rankings since 2001. The set …
Latest Coronavirus News in Vietnam & Southeast Asia September 16
Vietnam posts no new COVID-19 cases early September 16 Vietnam detected no new COVID-19 cases in the past 12 hours, resulting in an unchanged tally of 1,063 as of 6 am on September 16, according to the National Steering Committee for COVID-19 Prevention and Control. Collecting COVID-19 sample for RT-PCR test (Photo: VNA) Vietnam detected no new COVID-19 cases in the past 12 hours, resulting in an unchanged tally of 1,063 as of 6 am on September 16, according to the National Steering Committee for COVID-19 Prevention and Control. Of the total, 691 were locally-transmitted cases, including 551 recorded since July 25. The number of fully recovered patients amounted to 931, while 35 died from complications related to the disease. Among those still under treatment, 16 have tested negative for SARS-CoV-2 once, 12 others twice and 18 thrice. Three patients are in critical conditions. There are 32,417 people having close contact with confirmed cases or coming …
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VIETNAM BUSINESS NEWS SEPTEMBER 14
Vietnam needs additional 1 million ICT personnel by 2030 Demand for human resources for Information and Communications Technology (ICT) in general and artificial intelligence (AI) in particular in Vietnam has increased continuously and about 1 million more ICT personnel will be needed in the country by 2030, according to the Vietnam-Australia AI Network. In 2019, the total number of personnel working in Vietnam's ICT industry was about 970,000 people, of whom around 180,000 work for the software and digital content sectors and 1,600 are AI researchers (both domestic and foreign). At present, there are 50 universities that are training AI-related majors in Vietnam. The network said that during 2010-2018, Vietnam had 372 AI patent applications, ranking second in ASEAN. The number of scientific publications on AI raised from 134 in 2010 to 525 in 2018. Earlier, the Ministry of Science and Technology launched the Vietnam - Australia AI cooperation network, with the aim to help …
Vietnam, US businesses sign contracts worth over US$2.2 billion
The contracts will contribute to a balanced bilateral trade and economic relations for sustainable and mutual benefits. Vietnam's budget carriers Vietjet and Bamboo Airways have signed contracts worth over $2.26 billion with CFM International and GE Aviation. General Director of Bamboo Airways Dang Tat Thang and AVIAWORLD CEO Leslie J. Machado sign the contract with the attendance of State President Nguyen Xuan Phuc. Photo: VGP The signing ceremony took place on September 21 (local time) during State President Nguyen Xuan Phuc’s trip to the US to attend the 76th UN General Assembly in New York from September 21 to 24. Budget carrier Vietjet Air signed a contract of $260 million with CFM International for aircraft engine maintenance services, taking the total contract value between the two sides to $18.5 billion. Under a long-term and strategic partnership, both Vietjet and CFM International would continue to cooperate in aircraft engine maintenance, …
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Vietnam, Netherlands set example of effective ties
As the first visit of a Vietnamese NA leader to the country, the trip aims to consolidate the friendship and multi-faceted cooperation with the Netherlands amid the celebration of the 45th anniversary of diplomatic relations (April 9). It will mark a new milestone in the friendship and cooperation between the two Parliaments. The two sides will exchange information and experience in each country's parliamentary activities and areas of interest; promote cooperation in multi-lateral parliamentary forums to which the two parliaments are members, such as the Inter-Parliamentary Union, and the Asia- Europe Parliamentary Partnership. Over the past 45 years, the Vietnam – Netherlands relations have grown fruitfully in all fields and been further deepened. Mutual understanding and trust have been strengthened via high-level visits and cooperation mechanisms. It can be said that the Vietnam – Netherlands relationship is now an example of the dynamic and effective ties between Vietnam and …
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Travellers clamouring for the green light to fly again
People are itching to get back to normality, and this can include flights for business or pleasure. Photo: Vietnam Airlines The Vietnam Tourism Advisory Board (TAB) is again looking at the feasibility of travel passes for domestic and international travel from Vietnam, having further studied the use of such certificates elsewhere. “Many parliaments have adopted vaccine passports in law. We suggest that the Vietnamese government assigns a ministry to act as the focal point, responsible for research and pilot implementation of a travel pass in an early and synchronous manner across the country,” said Hoang Nhan Chinh, secretariat director of TAB. Unlike a vaccine passport, which is only issued to those who have received two doses of COVID-19 vaccines, a green travel pass could be issued to all Vietnamese citizens and foreigners with temporary residence cards who have received two doses, or patients who have been granted recovery certificates and people who have tested negative …
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Bamboo Airways and SFO sign agreement to promote nonstop Vietnam-US flights
On September 24, the Welcoming Ceremony of Bamboo Airways' First Nonstop Flight Connecting Vietnam and the United States was held at San Francisco International Airport (California, US). The event was attended by Hoang Huu Anh, Deputy Consul General of Vietnam in San Francisco; George G.Saxton, executive director of the SF Mayor’s Office of International Trade & Commerce, Ho Chi Minh City Sister City Committee; Ivar C. Satero, airport director of the San Francisco International Airport; Mark Chandler, board member of Northern California Sister Cities International; Dang Tat Thang, CEO of Bamboo Airways; and representatives of international partners such as Boeing and GlobalSF. Fortifying U S' primary gateway Bamboo Airways' flight QH9149 operated by the wide-body Boeing 787-9 Dreamliner landed at San Francisco International Airport on the evening of September 23. The flight took approximately 13 hours and 30 minutes, significantly shorter compared to current connecting …
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Aviation agency suggests floor prices for domestic air tickets
The aviation agency said in the proposal made to the Ministry of Transport that it seeks to prevent airlines offering super cheap ticket prices as low as zero dong, creating unfair competition, while helping the aviation industry cope with difficulties caused by the Covid-19 pandemic. Under the proposal, air tickets on routes under 500 km operated to promote socio-economic development will have a floor price of VND320,000, ordinary routes under 500 km VND 340,000, while the highest floor price is VND750,000 for routes of 1,280 km or above. According to the government portal, the air distance between the northernmost point of Vietnam to the southernmost point is 1,650 km. In the first seven months of 2021, Vietnamese carriers served 13.7 million passengers, a drop of 32.3 percent over the same period in 2020 and down 57.7 percent compared to the same period in 2019. …
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CAAV proposes to resume domestic flights amid pandemic
The proposal aims at maintaining air transport and promoting economic recovery for localities. The Civil Aviation Authority of Vietnam (CAAV) has proposed to resume domestic flights in a safe manner amid the pandemic, basing on the levels of Covid-19 risks, according to CAAV Director Dinh Viet Thang. Under the CAAV’s draft, 22 airports across the country would be classified into three groups, denoted by three colors: green group, which comprises airports in cities and provinces that are not under social distancing measures, yellow group (airports in localities which are partly under social distancing measures) and red group (airports in localities under strict social distancing measures). Flights between green airports and yellow and red airports are not subject to capacity limitations. Passengers only need a negative result from a Covid-19 test conducted within the last 72 hours to fly. Passengers on business trips and personnel serving pandemic prevention and …
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