Deputy Tang Huu Phong The Chairman made the statement at today’s eighth session of the tenth tenure of the Ho Chi Minh City People's Council continued the second working day. Deputies posed questions about some matters. Deputy Tang Huu Phong raised the question that in mid-October, right after Ho Chi Minh City controlled the epidemic and moved to a stage of flexibly and safely adapting to the Covid-19 epidemic, Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen directed at the Conference of the Executive Committee of the Ho Chi Minh City Party Committee for the term of 2020-2025 to focus on mobilizing all social resources to build social housing and public accommodation projects. This is an important program that received great attention from people from every walks of life, workers, employees, officials, teachers and businesspersons. Social housing construction was then repeatedly mentioned in city conferences, meetings and working sessions of city leaders with … [Read more...] about HCMC to focus on developing worker accommodation, social housing programs
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The VMBIZ and the MCCM will further promote trade and investment between the two countries in the coming time, especially in food and agricultural sectors. - Illustrative image (Photo: VNA) Kuala Lumpur (VNA) – The Vietnam – Malaysia Business Association (VMBIZ) and the Malay Chamber Of Commerce Malaysia (MCCM) signed a memorandum of understanding (MoU) on cooperation at a ceremony in Kuala Lumpur on December 7. In her remarks, VMBIZ Vice President Nguyen Thi Thanh Van said the MoU marks an impressive milestone in the association's operation, opening potential cooperation opportunities between Vietnamese businesses operating in Malaysia and enterprises of the two countries. The association plans to organise a Week of Vietnamese High-Quality Goods in Malaysia on the occasion of the 50th founding anniversary of the bilateral diplomatic relations, she said. MCCM President Soh Thian Lai expressed his delight at impressive results in trade and investment promotion … [Read more...] about Business association helps connect Vietnamese, Malaysian firms
The State Bank of Vietnam (SBV) has revised up the credit growth target for the domestic banking system by 1.5-2 percentage points from its previous target of 14 percent, allowing it to pump an additional VND200 trillion (US$8.4 billion) into the local economy. According to a report by SSI Securities Corporation, the SBV’s expansion of the credit growth cap to 15.5-16 percent raises the country’s total credit for this month to VND400 billion ($16.7 million). According to experts, the revision will help businesses, and the economy as a whole, amidst a soaring thirst for capital. The central bank has yet to announce exactly which banks will be eligible to increase their credit limits. As of the end of October, Vietnam’s credit growth sat at 11.5 percent, allowing for just 2.5 percent credit growth for the final two months of the year – a modest amount given the massive demand. In response to the announcement, the director of a company in Binh Tan District, Ho Chi Minh City … [Read more...] about Vietnam’s central bank raises credit growth cap, pumps $8.4bn into economy
The European Commissioner for Environment, Oceans and Fisheries, Virginijus Sinkevičius, acknowledged that Vietnam has made some progress in eliminating illegal, unreported, and unregulated (IUU) fishing 'yellow card' issued by the European Commission (EC) in October 2017 during his trip to Vietnam from November 27 to 28. In an exclusive interview with Tuoi Tre News, Sinkevičius reaffirmed that the EU has a very strict zero-tolerance policy as regards the IUU fisheries. Whether the fishing is domestic or international, the legislation has to be implemented. Since October 2017, Vietnam has definitely made some progress, thanks to the great cooperation between the EC’s Directorate-General for Maritime Affairs and Fisheries (DG – MARE) services and the Ministry of Agriculture and Rural Development of Vietnam, he said. In late October this year, an inspection delegation of the EC was in Hanoi to assess Vietnam's efforts to rectify the IUU situation. The delegation will prepare … [Read more...] about EU commissioner praises Vietnam for progress in preventing illegal fishing
Anphabe presented the Vietnam Best Workplace Survey 2022 On December 7, Anphabe's event 'Symphony of Change' took place in Hanoi, aiming to connect HR leaders, provide updates on the domestic HR trends, and share innovative strategies and methods for businesses and employees to stay strong in the face of change. The company also presented its exclusive Vietnam Best Workplace Survey 2022. According to the report, compared to 2021, businesses have improved employees’ income despite this year's difficult economic situation. Specifically, by September 2022, 56 per cent of employees received a salary increase, 38 per cent remained the same, while only 6 per cent had a salary reduction or unstable income. Anphabe accessed that although these figures are not significant compared to normal years, they had shown great efforts from Vietnamese enterprises, especially when only 35 per cent of employees received a salary increase in 2021. In addition to salary, in 2022, businesses have … [Read more...] about Anphabe holds ‘Symphony of Change’ event
Infographic by HSBC Since the advent of US-China trade tensions, Viet Nam has been one of the biggest beneficiaries in terms of both trade and FDI diversion, boosting its export share in the US market in particular. As a result, Viet Nam has become increasingly vulnerable to a US economic slowdown. In its recent 'Vietnam at a glance' report, HSBC said Viet Nam has been hit hard by a global trade slowdown, seeing the first meaningful year-on-year decline in its exports in two years. In particular, the decline has been led by an economic slowdown in the US, Viet Nam’s largest export destination. After over two years of booming trade, the “pay-back” time has come. Global orders have been falling sharply, taking a toll on Asian exporters. Viet Nam is no exception, and it has been on the front line in terms of feeling the pain. In November, the country saw the first meaningful year-on-year decline in its exports in two years, with broad-based weakness. In particular, shipments of … [Read more...] about HSBC: Is an export winter approaching?
An online lending app. (Photo: baochinhphu.vn) Hanoi (VNS/VNA) - A lot of money borrowers have been recently cheated on online lending applications which seem to ask for simple procedures at first but then claim cut-throat interest rates. Searching the key word “Online lending” in Vietnamese on Google, there are more than 49 million results in 0.6 seconds. Meanwhile, key word “Online lending apps” has over 29 million results in 0.37 seconds of searching. Online lending apps provide trust-based loans in which mortgage assets are not required and borrowers just need to show personal documents. The loans will be sent via banking accounts immediately. Taking advantage of high money borrowing demand, black credit criminals have created tricks to trap borrowers with unofficial added fees and fake money exchange contracts. This aims to force borrowers to take illegal actions. In many cases, the loans are not huge and the borrowing time is short but the interest rates are … [Read more...] about Money borrowers face black credit traps on online lending apps