A group of 16 commercial banks, accounting for 75% of total outstanding loans, has committed to foregoing around VND20.6 trillion ($906.3 million) in waiving and lowering interest rates for customers in the remainder of the year. From January 23 to August 31, banks have foregone a total of VND26 trillion ($1.14 billion) in profit to support customers, while 16 banks have reduced their profit by VND8.86 trillion ($390 million) from July 15 to August 31, or 43% of their committed amount. Since the first Covid-19 outbreak last year, commercial banks and credit institutions under the instruction of the State Bank of Vietnam (SBV) have been actively providing support for businesses struggling with the Covid-19 impacts and stabilizing the macroeconomy for a speedy recovery. Vietnam Bank for Social Policies at Ba Vi District, Hanoi, provides preferential loans for customers. Photo: Hong Dat In 2020, the SBV cut the policy rates three times with a total of 1.5-2 …
Daily Covid-19 infection tally falls on Thursday
Vietnam confirmed an additional 9,472 Covid-19 infections on Thursday and 6,226 patients were discharged from hospital following their recovery the same day, according to the Ministry of Health. Health workers take samples for Covid-19 testing in Hanoi According to the ministry's report, 9,465 of the new patients are locally-transmitted cases confirmed in 33 localities including HCM City (5,052), Binh Duong (2,764), Dong Nai (760), Long An (190), Kien Giang (163), An Giang (109), and Tay Ninh (86). There were seven imported patients confirmed today. The new infection number showed a decrease of 2,060 cases compared to yesterday's figure. There were 5,344 infections found in the community. As of Thursday evening, 723,962 infections have been reported since the new outbreak occurred in the country in late April, with some southern localities recording high infections such as HCM City (358,707), Binh Duong (190,257), Dong Nai (43,122), Long An …
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President Nguyen Xuan Phuc receives leaders of U.S. enterprises in New York
These enterprises included the GE Group, CFM International, AviaWorld LCC, Cantor Fitzgerald, Weidner Asset Management Steelman Partners, DeLong, Valero, AGP, and UPC Group. President Phuc, who has been in New York to attend the high-level debate of the U.N. General Assembly's 76th session, said that Vietnam treasures and wants to further develop its comprehensive partnership with the U.S. in a more practical, stable and long-term manner. Vietnam is determined to accelerate comprehensive and synchronous economic reforms and improve its business environment for foreign enterprises to expand their operations, he said. The State leader highly evaluated U.S. companies investing in Vietnam and shared their difficulties amid the COVID-19 pandemic. The Vietnamese Government is urgently carrying out a series of measures to put the epidemic under control, sustain supply chains, and recover production, he said. President Phuc said investment, cooperation, and experience-sharing …
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HCMC to fix 700,000 inaccurate vaccine records
A government portal report cited Deputy Prime Minister Vu Duc Dam as saying Tuesday that Ho Chi Minh City must quickly update its Covid testing and vaccination data so the effectiveness of technology usage in the Covid-19 fight could be evaluated. Vo Thi Trung Trinh, Deputy Director of the municipal Department of Information and Communication, said the department has cooperated with the municipal Department of Health, military-run telecom giant Viettel and local authorities to launch a national vaccination app. However, there have been challenges in uploading the data online and making them available. Normally, raw vaccination data from the city would be uploaded onto a common database, and the Ministry of Information and Communication would re-organize them and send them back to the city for use. But this process has not gone smoothly as planned. As of September 20, the city still had around 700,000 Covid vaccine certificates with inaccurate results, said Trinh. "The city has …
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Vietnam protests China’s dispatch of transport aircraft to Spratly islands
This is the first time China has confirmed the presence of Y-20 aircraft in Truong Sa (Spratly). The Ministry of Foreign Affairs opposed China’s dispatch of Y-20 large transport aircraft to Yongshu Reef, Zhubi Reef and Meiji Reef in Vietnam’s Spratly Islands for troop transport missions. Vietnamese spokesperson Le Thi Thu Hang. Photo: MOFA Vietnamese Spokesperson Le Thi Thu Hang was answering the reporter’s queries about this issue at the ministry’s regular press briefing held on Sept. 23. “Vietnam has sufficient historical evidence and legal basis to assert its sovereignty over the Hoang Sa (Paracel) and Truong Sa (Spratly) archipelagos in accordance with international law,” Hang said. The Vietnamese spokesperson stressed that China’s act infringes Vietnam’s sovereignty over the islands of Paracel and Spratly, escalates militarization, goes against the spirit of the Declaration on the Conduct of Parties in the East Sea (referring to the South China …
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PM highlights need for safe adaptation to pandemic, containment solutions
At the meeting of the National Steering Committee for COVID-19 Prevention and Control . (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh on September 23 urged studying measures to ensure safe and flexible adaptation to the COVID-19 pandemic along with effective disease containment solutions. Speaking at a meeting of the National Steering Committee for COVID-19 Prevention and Control, the Government leader said the pandemic has been gradually put under control. However, a few localities have failed to make noted progress in the combat, and the situation remains complicated in Ho Chi Minh City, said Chinh, who is also head of the committee. Affirming that measures undertaken so far are appropriate and effective, he asked ministries, agencies and localities to continue following the set major orientations and measures in the time ahead. The PM stressed that instruction should go in tandem with inspection and supervision, and reiterated the principles that …
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Strong private sector key to Vietnam economic transformation: Report
A private sector-led low-carbon economic growth model can enable Vietnam’s goal of becoming a high-income country by 2045. As Vietnam fights another wave of Covid-19, accelerating the pace of reforms, upgrading workforce skills and infrastructure will strengthen the private sector to help the country recover from the pandemic and unlock its potential, according to a new World Bank Group report. A manufacturing facility in Hanoi. Photo: Nguyen Viet The Vietnam Country Private Sector Diagnostic (CPSD) report, by IFC and the World Bank, says while the private sector has played a frontline role in Vietnam’s outstanding development in recent years, it’s now time to fully exploit the potential of the private sector to boost productivity growth so Vietnam can achieve its goal of becoming a high-income country by 2045. “The private sector has helped propel Vietnam to join the ranks of middle-income economies in just one generation, and the country was preparing for …
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Banyan Tree and Angsana Lang Co ready to welcome travellers back
An overview of Angsana Lang Co. — VNS Photo All staff of Banyan Tree and Angsana Lang Co are ready to welcome travellers back for a holiday at their luxury resorts. The resorts, with the support of Thua Thien Hue authorities, are two of the first resorts in this location to be fully vaccinated. The completion of the vaccination has been a positive boost towards the continued safety of the resorts and the team. “With the early access to vaccines and our SafeSanctuary programme, which is our protocol of heightened hygiene standards throughout the resorts, we are open and ready to welcome travelers back!" said Glen Cook, area general manager of Banyan Tree and Angsana Lang Co. The COVID-19 pandemic has changed the world, especially the tourism industry. To adapt to the new reality and offer safe travel experiences, Banyan Tree and Angsana initiated the SafeSanctuary programme in collaboration with Bureau Veritas in June 2020. SafeSanctuary follows over 40 protocol assurances …
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Vietnamese FM holds bilateral meetings with foreign diplomats
Vietnamese Minister of Foreign Affairs Bui Thanh Son (R) meets US Deputy Secretary of State Wendy Sherman. (Photo: VNA) New York (VNA) – Vietnamese Minister of Foreign Affairs Bui Thanh Son had bilateral meetings with his counterparts of Saudi Arabia, Syria, Egypt, Latvia, Venezuela and Nicaragua and US Deputy Secretary of State Wendy Sherman on the sidelines of the 76th session of the United Nations General Assembly in New York on September 22 (local time). They affirmed the determination to enhance economic and trade ties to match their sound political and diplomatic relations, continue effectively upholding existing cooperation mechanisms, and offer mutual support at the United Nations and other important international forums. COVID-19 vaccines and medical supplies. VNA …
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T&T Group, US partner reach deal in renewable energy in Viet Nam
Representatives of T&T Group and US partners signed MoUs and contracts in the presence of President Nguyen Xuan Phuc. — Photo courtesy of T&T Group T&T Group has signed several MoUs and contracts with US partners within the framework of President Nguyen Xuan Phuc’s working trip to the US. The Vietnamese firm inked an MoU with UPC Renewables on working together in offshore and nearshore wind and solar power projects in several provinces in Viet Nam with a combined capacity of nearly 1,500 MW and total investment of about US$2.5 billion. T&T Group also sealed two deals in buying animal feed materials totalling $525 million. Accordingly, its agricultural arm T&T Agri will import 1.25 million tonnes of materials worth $450 million from The Delong Company next year. The other is an agreement in principle valued at $75 million per year also between T&T Agri and US firm Valero. Meanwhile, the group's pharmaceutical arm, T&T Pharma reached a deal worth …
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