APEC Finance Ministers' Meeting deals with global, regional challenges

08:40 | 16/11/2023 Finance-Banking Follow Ven.vn on

The APEC Finance Ministers' Meeting has promoted cooperation, aided in economic recovery and sustainable development while addressing global and regional challenges, said Vietnamese Finance Minister Ho Duc Phoc.

In an interview granted to the Vietnam News Agency on the sidelines of the meeting in San Francisco on November 13, Phoc said the meeting focused its discussions on sustainable development, finance for sustainable development, digital assets and supply-centric economic models.

APEC Finance Ministers' Meeting deals with global, regional challenges

Vietnamese Finance Minister Ho Duc Phoc - Photo: VNA

Addressing discussions on finance for climate change response, the official affirmed that Vietnam is committed to achieving net-zero emissions by 2050 and supports the Just Energy Transition Partnership (JETP).

For Vietnam, the funding from JETP has been committed at 15.5 billion USD which is required within the next 6 years, he said, adding that it has issued mechanisms to draw private investment into renewable energy projects, such as solar and wind energy, and hydropower.

According to him, Vietnam is also attracting investments from international financial institutions such as the World Bank (WB), the Asian Development Bank (ADB), European banks, and investment funds to support climate change mitigation projects.

Concerning finance for climate change response, Vietnam proposed that financial institutions accelerate the disbursement of committed funds, as early and specifically as possible, he said.

He added that finance ministers had debated the increasing public debt and solutions for short and medium term. Other topics included funding for climate change investment and energy transition, fair and infrastructure investment, aging population affecting fiscal policy and measures, and tax-related matters to increase public financial resources.

In the long term, the sides will amend several tax laws, increase tax rates, and expand some tax bases, such as valued added tax or new areas taxed at 5%, which may rise to 10%. Import-export and special consumption taxes may also see hikes, he added.

Source: VNA

See more news

Korean Woori Bank makes expansion to Can Tho city

08:45 | 13/11/2023 Finance-Banking

The Republic of Korea (RoK)’s Woori Bank inaugurated its new branch in the Mekong Delta city of Can Tho on November 8, increasing the number of its offices in Vietnam to 21 after 26 years of operation in the country.

Vietnam sees ebullient growth in digital banking, payment channel: UOB report

08:46 | 08/11/2023 Finance-Banking

There is an increasing preference for digital banking and new payment modes such as mobile banking apps, e-wallets, QR code-based payments, e-commerce payment platforms and mobile wallet debit or credit cards among Vietnamese consumers, the United Overseas Bank (UOB) said in its report “ASEAN Consumer Sentiment Study" (ACSS) which was launched on November 1.

Higher credit growth expected for remaining months

06:00 | 05/11/2023 Finance-Banking

(VEN) - According to the latest data from the State Bank of Vietnam (SBV), credit increased sharply in the last week of September with nearly VND120 trillion (one percent of the total outstanding loans) pumped into the economy, taking the total to about VND12.7 quadrillion in the first nine months of this year, up 6.9 from early 2023 and higher than the State Bank's forecast (6.1-6.2 percent).

HCM City projected to experience 4-5% budget collection shortfall

16:18 | 02/11/2023 Finance-Banking

Ho Chi Minh City’s financial sector has forecast that the southern economic hub’s budget revenue collection may face a shortfall of 4-5% this year as compared to the assigned estimate, mainly due to a decrease in revenue collection from import-export activities.

Central bank highly valued for flexible monetary policy governance

09:00 | 29/10/2023 Finance-Banking

In the face of difficulties and challenges, the State Bank of Vietnam (SBV) has been proactively and flexibly governing the monetary policy, also coordinated with the fiscal policy and other macro-economic ones, to control inflation and help stabilise the macro-economy and boost growth, thus winning high evaluation from the international community.

Banking system’s bad debt ratio surges to 3.56%

09:12 | 26/10/2023 Finance-Banking

The bad debt ratio of the banking system skyrocketed from 2% at the beginning of this year to 3.56%, or more than 440 trillion VND, at the end of July 2023, according to the latest data from the State Bank of Vietnam (SBV).

Enterprises’ mixed feeling driven by interest rates, exchange rates

06:00 | 23/10/2023 Finance-Banking

The State Bank of Vietnam (SBV) has issued nearly VND70 trillion of treasury bills given the system’s excess liquidity and continuous increases in exchange rates.

Vietnam’s top 1,000 corporate income taxpayers announced

10:41 | 19/10/2023 Finance-Banking

The General Department of Taxation has announced the list of top 1,000 corporate income taxpayers (V.1000) in Vietnam in 2022.

Corporate bond private placement doubles in September

08:51 | 16/10/2023 Stock Market

After more than two months of operation of the trading platform for privately placed corporate bonds, another 56 corporate bond codes were registered to be traded on the system last month, with the transaction value doubling that of August, said the Hanoi Stock Exchange (HNX).

SMEs entitled to loans at preferential interest rate of 1.2% per year

09:26 | 13/10/2023 Finance-Banking

Firms can borrow from the Small- and Medium-sized Enterprise (SME) Development Fund with a short-term interest rate of 1.2% per year and a long-term interest rate of 4.4% per year, effective from October 4, 2023, the Ministry of Planning and Investment announced.

Latest Most Read

Kiên Giang strives for tourism to spearhead economy by 2030

16:23 | 04/12/2023 Tourism

With abundant natural resources, and numerous scenic spots and historical sites, Kiên Giang Province has favorable conditions for investment, exploitation, and development of tourism, as it aims to make it the province's spearhead economic sector.

HCM City seeks to build “film city”

16:09 | 04/12/2023 Lifestyle

The first HCM City International Film Festival (HIFF) is scheduled to take place in early 2024 and is expected to contribute to the establishment of HCM City as a "film city."

Initiatives proposed to develop sustainable financial policies

10:58 | 04/12/2023 Finance-Banking

The Vietnam Finance Forum 2023 themed “Financial Policies to Overcome Challenges towards Sustainable Development” was held in Quy Nhon city, the central province of Binh Dinh, on November 30.

Lang Son province wants to attract Korean investors: official

09:02 | 04/12/2023 FDI

Chairman of the People’s Committee of the northern province of Lang Son Ho Tien Thieu worked with representatives of companies and groups from the Republic of Korea (RoK) to discuss the implementation of Ho Son 1 industrial cluster project in Huu Lung district.

Vietnamese PM meets leaders of Cuba, WB, Sweden at COP28

08:46 | 04/12/2023 News and Events

Prime Minister Pham Minh Chinh had separate meetings with Cuban President Miguel Diaz-Canel, President of the World Bank Group Ajay Banga, and Swedish PM Ulf Kristersson in Dubai on December 2, on the sidelines of the World Climate Action Summit at the 28th UN Climate Change Conference (COP28).

Da Nang to develop human resources for semiconductor industry

13:20 | 24/11/2023 Society

(VEN) - Da Nang will develop a project on building human resources for the semiconductor industry, adding this issue to the investment portfolio of the city to support enterprises in this field.

Quang Ninh exploits offshore wind power potential

06:00 | 24/11/2023 Energy

(VEN) - In recent years, Quang Ninh Province has boldly proposed and mobilized all resources to promote the development of renewable energy sources, especially wind power in order to reduce dependence on fossil fuels and optimize the province’s potential and advantages.

Ninh Binh finds outlets for strong products

14:00 | 23/11/2023 Province

(VEN) - Finding stable markets for strong local products is one of the key targets that Ninh Binh Province set for the Buy Vietnamese Goods campaign in the region.

UNESCO global geopark to attract three million visitors

06:00 | 25/11/2023 Tourism

(VEN) - The northern mountainous province of Ha Giang held a ceremony on October 28 to receive the United Nations Educational, Scientific and Cultural Organization’s (UNESCO) recognition of its Dong Van Karst Plateau as a global geopark for the third time.

V-SCOPE project enhances coffee and pepper value chains

14:00 | 25/11/2023 Society

The V-SCOPE project contributes to enhancing the sustainability, economic value and value chains of coffee and pepper grown in the Central Highlands provinces of Gia Lai, Dak Lak and Dak Nong.

Multimedia

Video Longform Infographic Photo

kien giang strives for tourism to spearhead economy by 2030

Kiên Giang strives for tourism to spearhead economy by 2030

16:23 | 04/12/2023 Tourism

HCM City seeks to build “film city”

16:09 | 04/12/2023 Lifestyle

The first HCM City International Film Festival (HIFF) is scheduled to take place in early 2024 and is expected to contribute to the establishment of HCM City as a "film city."

Agricultural products, rural tourism go hand-in-hand

06:00 | 01/12/2023 Tourism

Even though the quantity may not be sufficient for large-scale exports, OCOP products bring significant material and cultural value. The most valuable way to 'export' OCOP products is when these items are favoured by international tourists and brought back to their home countries.

quang ninh welcomes first chinese cruise ship tourists in 2023

Quảng Ninh welcomes first Chinese cruise ship tourists in 2023

06:00 | 29/11/2023 Tourism

This is the first cruise taking Chinese tourists to Hạ Long since China reopened borders and resumed international tourism activities earlier this year.

New points in Vietnam's visa policy for foreigners

09:25 | 24/11/2023 Infographic

Vietnam's new visa policies for foreigners are expected to be a "leverage" to attract a large number of international visitors for the tourism industry.

Policy

Ministry of Finance issues Circular 69 for reorganisation of securities market

08:39 | 27/11/2023 Policy

A new circular has been issued, aiming to improve market transparency in Viet Nam.

New legal documents in first half of November 2023

06:00 | 25/11/2023 Policy

VEN lists the latest legal documents issued by the Vietnamese Government, ministries and state agencies.

Ministry proposes continued tax and fee cuts to promote economic growth

06:00 | 23/11/2023 Policy

The Ministry of Finance (MoF) has continued to submit proposals to competent authorities and implement policies within its authority to grant exemptions, reductions and extensions on taxes, fees and charges.

Việt Nam issues national strategy on antimicrobial resistance prevention and control

09:58 | 21/11/2023 Policy

Việt Nam is one of the first six countries in Asia-Pacific to have developed and implemented a national action plan on antimicrobial resistance prevention and control, deputy health minister Trần Văn Thuấn said during an event in Hà Nội on Monday.

Industry & Trade

VIMEXPO 2023 promotes connections for development

06:00 | 04/12/2023 Support industries

(VEN) - The fourth Vietnam International Supporting Industry and Manufacturing Exhibition (VIMEXPO 2023) took place in Hanoi from November 15-17. The event connected Vietnamese companies with multinational firms and foreign businesses in supporting, processing and manufacturing industries.

Footwear industry strives for new standards

06:00 | 01/12/2023 Industry

(VEN) - Sustainable development solutions are an extremely important condition to meet increasingly high standards from Free Trade Agreements (FTAs), including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreement. General Secretary of the Vietnam Leather - Footwear and Handbag Association (LEFASO) Phan Thi Thanh Xuan talked with Industry and Trade Newspapers’ Bao Thoa about this issue.

Developing the carbon market is key to green transition

06:00 | 30/11/2023 Industry

Low-carbon economic development towards a circular economy is becoming an inevitable tendency in the framework of the green transition with the creation and development of carbon markets seen as an increasingly crucial tool.

Development framework needed for wind power sales

09:17 | 28/11/2023 Energy

The Singapore Government approved in principle the sale of 1.2GW from a 2.3GW wind farm offshore Việt Nam but the latter must come up with a framework to implement the deal within the next year.

Investment

Lang Son province wants to attract Korean investors: official

09:02 | 04/12/2023 FDI

FDI flows into Vietnam go up 14.8% in 11 months

09:21 | 30/11/2023 FDI

Nearly 28.85 billion USD in foreign direct investment (FDI) was registered as of November 20, rising 14.8% year on year, reported the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

PM sets target of disbursing at least 95% of public investment capital this year

08:50 | 28/11/2023 Investment

Prime Minister Pham Minh Chinh urged the acceleration of public investment disbursement, striving to disburse at least around 676 trillion VND (27.8 billion USD) or 95% of the target this year while chairing an online meeting in Hanoi on November 27 between permanent Government members and ministries, agencies and localities.

RoK seeks to strengthen investment in central localities

10:02 | 26/11/2023 FDI

The Consulate General of the Republic of Korea (RoK) in the central city of Da Nang on November 24 held a conference on the expansion of investment cooperation between the RoK and central localities of Vietnam.

Finance-Banking

Initiatives proposed to develop sustainable financial policies

10:58 | 04/12/2023 Finance-Banking

The Vietnam Finance Forum 2023 themed “Financial Policies to Overcome Challenges towards Sustainable Development” was held in Quy Nhon city, the central province of Binh Dinh, on November 30.

Banks increase capital through paying dividends in shares

09:32 | 01/12/2023 Finance-Banking

Many large banks are implementing plans to issue shares to pay dividends in the last months of this year.

New circular aims to improve stock market transparency

08:40 | 28/11/2023 Stock Market

The Ministry of Finance has issued a new circular which aims to improve stock market transparency in Vietnam.

Ministries, SBV requested to boost corporate bond, real estate markets: PM

09:15 | 25/11/2023 Finance-Banking

Prime Minister Pham Minh Chinh has urged greater efforts to promote credit access, thus boosting corporate bond and real estate markets in a safe, healthy and sustainable fashion.

Environment

HCM City speeds up relocation of houses along canals

06:00 | 30/11/2023 Environment

HCM City authorities are finding solutions to speed up progress of relocating houses along canals by 2025.

Power Generation Corporation 1 pushes for green slag dumps

06:00 | 28/11/2023 Environment

(VEN) - The Power Generation Corporation 1 (EVNGENCO 1) under the Electricity of Vietnam (EVN) has been taking a number of solutions to protect the natural environment such as promoting clean production, applying modern technologies, handling the ash and slag volume created during the power generation process, and “greening” slag dumps.

Project helps put forth biodiversity conservation in Da Nang

06:00 | 28/11/2023 Environment

With an array of effective models and programmes put in place, a biodiversity protection and environmental sustainability project in Da Nang, funded by the EU, has made contributions to promoting biodiversity and helping local people develop livelihoods, heard a workshop held in the central city on November 24.

Environmental protection efforts augmented in Ha Long Bay

06:00 | 26/11/2023 Environment

Environmental protection is viewed as a focal, consistent, and priority task during the management, preservation, and sustainable promotion of the world natural heritage site of Ha Long Bay, stated head of the bay management board Vu Kien Cuong.

Science - Technology

Startup, innovation must be crucial political task PM

06:00 | 04/12/2023 Science - Technology

Prime Minister Pham Minh Chinh has said startup and innovation must be considered as a crucial political task that contributes to promoting robust economic growth, enhancing competitiveness edge and efficiency of production and business, increasing labour productivity, and opening up a new development space.

Only 27% of organisations in Vietnam fully prepared to deploy AI

06:00 | 02/12/2023 Science - Technology

Only 27% of organisations in Vietnam are fully prepared to deploy and leverage Artificial Intelligence (AI)-powered technologies, according to Cisco’s inaugural AI Readiness Index released this week.

Australia shares experience in innovation with Vietnam

06:00 | 30/11/2023 Science - Technology

Australian experts shared experience in innovation at a workshop held by the Vietnamese Ministry of Science and Technology (MoST) in Hanoi on November 22.

Engineer Do Hong Quang – idea initiator of BSR

06:00 | 29/11/2023 Science - Technology

(VEN) - For years working at Dung Quat Oil Refinery as an operations supervisor, Engineer Do Hong Quang has contributed many ideas and initiatives worth more than VND1 trillion. With those contributions, Do Hong Quang was honored to receive the 4th Nguyen Duc Canh Award in 2023.

Society

Nestlé Vietnam joins hands to build image of Vietnamese women in new era

16:20 | 28/11/2023 Society

From the commitment of Nestlé to empowering women and enhancing women’s empowerment, and the mission of promoting gender equality of the Vietnam Women’s Union, the “Nestlé accompanyies women” program has been implemented by both parties from December 2020 in 9 provinces, and expanded in November 2022 in 21 provinces nationwide.

Bình Dương takes steps to become centrally-run city by 2030

09:24 | 28/11/2023 Province

The southern province of Bình Dương has issued a socio-economic development plan, focusing on becoming a centrally-run city by 2030, alongside major centres of Hà Nội, HCM City, Hải Phòng, Đà Nẵng, and Cần Thơ.

Co-operation between member countries key to Mekong sub-region sustainability: forum

08:35 | 27/11/2023 Society

Co-operation between its various countries is key to promoting sustainable development in the Mekong sub-region, speakers told a forum held last Friday in HCM City.

V-SCOPE project enhances coffee and pepper value chains

14:00 | 25/11/2023 Society

The V-SCOPE project contributes to enhancing the sustainability, economic value and value chains of coffee and pepper grown in the Central Highlands provinces of Gia Lai, Dak Lak and Dak Nong.

Vietnamese Brands

Nui Beo: The biggest raw coal miner of VINACOMIN

14:00 | 29/11/2023 Companies

(VEN) - Although it was founded as an open-pit coal mine in the most difficult times, the Nui Beo Coal Joint Stock Company, a member of the Vietnam National Coal & Mineral Industries Holding Corporation Limited (VINACOMIN), has become a leading coal mining unit achieving a spectacular growth rate.

Dramatic transformation seen in Vinacomin-Materials Trading JSC

14:00 | 28/11/2023 Companies

(VEN) - With the goal to become a logistics company providing technical services and advanced, innovative, and environmentally friendly science and technology solutions for the mining and energy industries in Vietnam, Vinacomin-Materials Trading JSC has been striving to make a dramatic transformation and affirm its position in the market.

Pioneer in mining technology research and application

14:00 | 27/11/2023 Companies

(VEN) - The Institute of Mining Science and Technology (IMSAT) under the Vietnam National Coal and Mineral Industries Group has undergone more than 50 years of development and become a pioneer in research of coal and mineral mining, sifting and processing technologies.

Great efforts to overcome difficulties

14:00 | 26/11/2023 Companies

(VEN) - The VMMI La Hien Cement Joint Stock Company is one of the oldest cement producers in Thai Nguyen Province. Bringing into play the consensus of employees, the company has maintained production and sales, ensuring stable jobs and incomes for its workers.

APEC Finance Ministers' Meeting deals with global, regional challenges

See also

See more news

Multimedia