World bank vietnam

New York (VNA) – Vietnam supports the democratic process in Somalia, particularly the upcoming elections, Minister Counsellor Nguyen Phuong Tra, Deputy Permanent Representative of Vietnam to the United Nations, has said. At the informal dialogue with between the United Nations Security Council (UNSC) and Somalian Foreign Minister Mohamed Abdirizak on January 20, Tra expressed her hope that the Federal Government of Somalia, member states and political parties will make more efforts to reach political consensus on specific date to hold elections as well as seek solutions to existing challenges. Regarding the security situation in Somalia, Tra condemned the bomb explosion that killed at least six military personnel and government officials in Lower Shabelle on January 17, as well as other attacks on civilians, security and military forces, and establishments of the UN and the African Union Mission to Somalia (AMISOM). She took the occasion to reiterate support for Somali … [Read more...] about Vietnam supports democratic process in Somalia: Diplomat

Profits come from service diversification Looking at the profit results of the four State-owned commercial banks (Big 4), Vietcombank had a pre-tax profit of nearly VND23.1 trillion (approximately US$1 billion) - the highest level in the banking system, helping the lender to be in the list of 200 groups with the highest profit in the world. Vietcombank's credit growth in 2020 was higher than the general growth rate of the banking system, at 14 percent. This is also the highest credit growth ever of this lender and the highest in the banking industry. The pre-tax profit of Vietinbank also reached VND16.45 trillion, up 43.5 percent over the previous year due to good credit growth. The recent report of Agribank shows that not only did the business results continue to improve, Agribank's administrative costs in 2020 were also being cut by 10 percent, helping the bank's pre-tax profit to touch nearly VND12.87 trillion, VND369 billion, or approximately 3 percent, higher than the plan. It … [Read more...] about Banks continue to lower interest rates further to support economic growth

“It is expected to grow again around 7 percent this year because Vietnam signed recently several free trade agreements such as the European Union -Vietnam Free Trade Agreement (EVFTA), the Regional Comprehensive Economic Partnership (RCEP) agreement and the newly-concluded United Kingdom-Vietnam Free Trade Agreement (UKVFTA),” he told the Vietnam News Agency (VNA)’s reporter in Jakarta. … [Read more...] about VIETNAM NEWS JANUARY 21

UNDP Resident Representative in Vietnam Caitlin Wiesen said Vietnam was one of only a few countries in the world to post GDP growth in 2020, of 2.91 percent, and for the first time it was ranked by the UNDP as among the High Human Development Group, with growth of 46 percent in its Human Development Index (HDI) during the 1990-2019 period, one of the most rapid transitions to high human development in history. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 21

Industrial production and retail sales continued to expand solidly, with growth rates close to pre-pandemic levels. Meanwhile, auctions and granting of land use and rental improved revenue collection in the last quarter of 2020, while ample liquidity continued to lower the Government’s borrowing cost in the domestic market. … [Read more...] about Vietnam eyes strong recovery from pandemic this year