Why businesses are experiencing a digital transformation

The Police Division of Administrative Management on Social Media under Dak Lak Province Public Security Department is issuing chip-based citizen ID cards to people in need. (Photo: Public Security Ministry) In a recent virtual meeting on implementing Project 06 held in Thai Nguyen Province, certain problems have been reported in the process of promoting digital transformation to serve citizens and businesses despite the strong determination of central and local state agencies. Statistics from the Ministry of Information and Communications reveal that the current IT state of ministries and state agencies is not sufficient to implement Project 06. During the connection among these units to access the available formal e-identification database, only 6/20 units can satisfy the hardware demands (accounting for 30 percent). Merely 5/20 units can answer the requirements of the system to handle administrative procedures and 3/20 of necessary equipment for the one-station model at … [Read more...] about National digital transformation project focuses on citizens, businesses

Illustrative image (Photo: organising board) HCM City (VNA) - The latest technologies, equipment and products in the printing and packaging industry will be on display at the 20th Vietnam International Printing and Packaging Industry Exhibition ( Vietnam Print Pack 2022 ) to be held in Ho Chi Minh City from September 21 to 24. Speaking at a press conference on September 13, Tu Luong, deputy director of the city's Department of Information and Communications , said the event would focus on technology trends and promote digital technology in the packaging and printing sector. The annual four-day expo is expected to attract 135 exhibitors from 15 countries and territories, including Vietnam, China, Germany, Hong Kong (China), India, Indonesia, Italy, Japan, Malaysia, the Philippines, the Republic of Korea, Taiwan (China), Thailand, the UK and the US. Covering an area of 8,500 square metres, the expo will feature 412 booths, displaying the latest printing machinery and … [Read more...] about HCM City to host Vietnam Print Pack 2022 expo

With its long-term vision for sustainable development, coupled with a clear implementation strategy and an effective social and environmental risk management system, VPBank has gradually become a role model of a “green” bank in Vietnam. Such progress has brought sustainable values to the bank itself as well as the community and the whole economy. Mrs. Luu Thi Thao, VPBank’s Standing Deputy CEO, shared with the Asian Business Leadership Forum (ABLF) the bank's efforts in building its Environmental, Social, and Governance (ESG) scheme. Mrs. Luu Thi Thao, VPBank’s Standing Deputy CEO In July, Moody's for the first time announced VPBank's ESG sustainability score at 2 out of 5, with 1 being the highest. Is this a testament to VPBank's long-term strategy for sustainability and building up the image of a green bank? What were the factors contributing to such a good result? With a rating at 2, out of 5 by Moody's for VPBank’s strong foundation, clear strategy and effective … [Read more...] about Sustainable finance is the way to address ESG challenges

A customer at an HDBank office in Ha Noi. The SBV raised the cap of credit growth quota for 15 banks including HDBank in early September. — VNA/VNS Photo Businesses have faced difficulties in access to capital and commercial banks want to be able to lend freely to meet market demand. However, experts said the imposition of the credit growth cap is still necessary to keep the country’s macro economy stable in the short run. The credit growth quota regime was officially deployed in 2011 when Viet Nam’s economy was experiencing hyperinflation stemming from excessive money supply. The credit growth quota regime, putting a cap on the banking industry’s credit expansion, was announced by the State Bank of Vietnam (SBV) at the beginning of each year. Based on the credit growth quota for the entire banking industry, the SBV will determine the credit growth for each commercial bank depending on its financial health, with indicators including capital, asset quality, governance, business … [Read more...] about Credit growth cap remains indispensable for macroeconomic stability

Pursuant to the MoU, the two sides will establish the consultation collaboration on promoting Corporate Governance with best practices; provision of consultation on ESG strategy development (Environment, Social and Governance) appropriate in the Era of Sustainability Business; Establish & Strengthen the ESG policies and practices; Internal Control Assessment; and Business Process Improvement. Senior Executive Director of Tricor Axcelasia, Mr. Derek Lee, and VietStar CEO, Ms. Pham Thi Thu Hang, sign the MoU In addition, VietStar and Tricor Axcelasia also collaborate with each other to provide consultation on promoting foreign companies’ investment into Vietnam as well as Vietnamese companies’ investment into ASEAN countries, which helps foreign enterprises have the best preparation related to the local market as well as policies and procedures before investing into Vietnam, and also helps Vietnamese enterprises better understand ASEAN market to smooth the … [Read more...] about Vietstar and Tricor Axcelasia Group signed MoU

The first sample of chip made by FPT semiconductor. — Photo courtersy of FPT Viet Nam’s leading ICT company FPT Software has launched a new subsidiary, FPT Semiconductor, marking a key milestone for the company as it enters the booming semiconductor industry. Through the new subsidiary, FPT Software aims to gain a slice of Asia Pacific’s semiconductor market which accounts for 60 per cent of global sales. FPT Semiconductor released its first integrated circuits (ICs), designed in Viet Nam and manufactured in South Korea, in August 2022. These ICs will be used in Internet of Things (IoT) medical devices. By 2023, FPT Semiconductor plans to supply 25 million chips globally in seven types to meet diverse needs in telecommunications, IoT, automotive technology, energy, electronics, and others. According to a Technavio report, Viet Nam's semiconductor industry is estimated to exceed US$6.16 billion by 2024. FPT Semiconductor aims to become a supplier of Vietnamese brand chips for … [Read more...] about FPT Software produces made in Viet Nam chips

The event, part of activities to celebrate the 45th founding anniversary of ASEAN-E.U. ties, was hosted by the Embassy of Thailand in association with the ASEAN Brussels Committee. The three-session workshop focused on the fields of green development, connectivity, and trade and sustainable supply chain. Participants agreed on the significance of the ASEAN-E.U. strategic partnership, especially amid uncertainties in the regions and the world, along with emerging risks of supply chain disruption, food and energy security. E.U. delegates said the union will give priority to green and sustainable development, ensuring safety of supply chain and adaptation to fluctuations in the time to come, with ASEAN in general and its member countries being important partners of the E.U. It is to expand cooperation with ASEAN in green transition, renewable energy, climate change adaptation, infrastructure connectivity and digital transformation, among others. Chairing the discussion on … [Read more...] about ASEAN, E.U. discuss lifting cooperation to new height

Vietnamese Ambassador to Belgium and Head of the Vietnam’s Delegation to the EU Nguyen Van Thao (centre) speaks at the event. (Photo: VNA) Brussels (VNA) - A roundtable workshop on cooperation between the Association of Southeast Asian Nations (ASEAN) and the European Union (EU) was held in Brussels, Belgium on September 30. The event, part of activities to celebrate the 45th founding anniversary of ASEAN-EU ties, was hosted by the Embassy of Thailand in association with the ASEAN Brussels Committee. The three-session workshop focused on the fields of green development, connectivity, and trade and sustainable supply chain. Participants agreed on the significance of the ASEAN-EU strategic partnership, especially amid uncertainties in the regions and the world, along with emerging risks of supply chain disruption, food and energy security. EU delegates said the union will give priority to green and sustainable development, ensuring safety of supply chain and … [Read more...] about ASEAN, EU discuss lifting cooperation to new height

Director of the Ho Chi Minh City Department of Health Tang Chi Thuong Director of the Ho Chi Minh City Department of Health Tang Chi Thuong said that the Department of Health of Ho Chi Minh City and the Ministry of Health have proposed to the National Assembly to soon adjust hospital charges so that hospitals can collect precise fees. If charges of public hospital services cannot be adjusted soon, hospitals petitioned to change their autonomy levels. The Government has just issued Decree 60 on the autonomy of public non-business units to replace the Decree 43 and the Ministry of Finance has also issued guidance on the implementation of this decree. According to the Director, most hospitals are self-financing but after nearly two years of Covid-19 prevention and control, the revenue from medical examination and treatment activities has decreased significantly. In the immediate future, to attract more patients, hospitals need to urgently strengthen and improve their professional … [Read more...] about Self-financed hospital managers petition for precise hospital charges