BUSINESS IN BRIEF 28/12

Sacombank’s NPL ratio declines sharply to 4.4 percent, Nhan Co aluminum plant surpasses yearly target, Vietnamese farm exports have big potential in China, Lam Dong calls for foreign investment in 53 projects

Economists fear big money supply may lead to high bad-debt ratio

To obtain a 20 percent credit growth rate this year, total outstanding loans will have to increase by VND1,200 trillion. In the last five last months of the year, VND700 trillion is expected to be pumped into circulation.

What is the cost to retain workers?

VietNamNet Bridge - The average pay from Vietnamese companies is 29 percent lower than multinationals. 

Banks still struggling to settle bad debts

VietNamNet Bridge - Sacombank and VP Bank are leading the list of banks with the highest NPL (non-performing loans) ratios.

Prof Ngo Bao Chau: university management is ineffective

Prof Ngo Bao Chau, a renowned Vietnamese mathematician and Fields medal winner, believes that poor management is one of the greatest challenges faced by Vietnam’s higher education system.

Vietnam tries stem cell therapy on 21 kinds of disease

VietNamNet Bridge - Though Vietnam started later than developed countries in applying stem cells for medicinal purposes, it has made significant progress in the field.

Vietnam makes effort to protect coral reefs

VietNamNet Bridge - Up to 25 percent of marine species reside under coral reefs, many of which have been damaged.

Young talented violinist Do Phuong Nhi to perform at Hanoi concert

Talented violinist Do Phuong Nhi will perform with the Vietnam National Symphony Orchestra under the baton of American conductor Wes Kenny at the Subscription Concert Vol. 107 at the Hanoi Opera House on January 5.

Fed hikes show limited impact on overseas remittances

 Over the past several years, the foreign remittance inflows sent by over fours million Vietnamese workers living from 187 countries and territories have been steady, despite the Fed’ raising interest rates three times in 2017.

Social News 27/12

 WB funds water supply projects in Red River Delta, VSS: Social insurance coverage on the rise, Cities increase goods supply to avoid price shocks before Tet, National meeting reviews external information work in 2017

Snow emergency in US town after huge storm

 A heavy storm has brought a record amount of snow to the US city of Erie on Christmas Day, forcing officials to declare a state of emergency.

Exhibition shows talents of Vietnamese fine arts lecturers

 A total of 30 artworks by four lecturers from the Vietnam University of Industrial Fine Arts are being displayed at an exhibition that opened at the Korean Cultural Centre in Hanoi on December 26.

Fireworks to light up Hanoi sky on Lunar New Year’s Eve

 Citizens of Hanoi and tourists alike will be entertained with dazzling firework displays at 30 sites across the city on the 2018 Lunar New Year’s Eve.

Conglomerates expand investments in many business fields

VietNamNet Bridge - Expanding the scale of their business and jumping into new business fields is the path being followed by conglomerates with powerful financial capability.

Hue, Hoi An among Top 12 must-visit Asian cities

 Culture Trip, a London-based travel site, has recommended that tourists visit Hue and Hoi An in central Vietnam at least once in their life.

VNPT earns $220m this year

 Telecom operator Viet Nam Posts and Telecommunications Group (VNPT) reached a consolidated profit of VNĐ5.01 trillion (US$220 million), a year-on-year increase of 21 per cent.

Awesome vacations, holiday revelry

Attractive holiday tours are giving residents and visitors a wide range of choices to see the most beautiful, interesting and historical parts of the country. 

Vietnam tourism 2017: Prominent landmarks

Foreign arrivals to Vietnam hit a record high of more than 13 million people this year, a year-on-year increase of 30%.

Thu Hanh ranks among top 12 finalists of Mrs World 2017

Vietnam representative Tran Thu Hanh has surpassed many candidates from different nations to rank among top 12 finalists of Mrs. World 2017 beauty pageant.

Market capitalisation hits 74.6 percent of Vietnam’s GDP

 Vietnam’s stock market and fund certificate value reached 3.36 quadrillion VND (148.17 billion USD) in 2017, equivalent to 74.6 percent of the country’s GDP. 

Vietnam holds counter-terrorism exercise in Cam Ranh airport

A counter-terrorism exercise was held at Cam Ranh International Airport on December 26. 

Designer showcases padded jackets

 VietNamNet Bridge – Nostalgia and memories of the past were the biggest inspirations for designer Trinh Bich Thuy in her latest collection of padded jackets, presented yesterday in Hanoi.

Textile industry dyeing for capacity

Taiwanese apparel maker Eclat Fabrics has requested permission to increase dyeing production capacity in its Ba Ria-Vung Tau factory from 10% of the factory’s output to 100 percent.

Doctors remove large, rare tumour from boy

Doctors at Paediatrics Hospital 1 and the Hospital for Traumatology and Orthopaedics in HCM City worked as a surgical team to remove a large noncancerous tumour from the ribcage of a 12-year-old boy

Life in Hanoi in new cold spell

 Hanoi has experienced a new cold snap with drizzle, causing certain difficulties for life of local residents.