Many banks in Vietnam unexpectedly cut interest rates

A number of banks such as Vietcombank, BIDV, Agribank, VIB and Dong A have suddenly cut interest rates just before the end of the year. Specifically, Vietcombank reduced 1-month term’s mobilization interest rate by 0.2%/year, to 4.3%/year; 2-month interest rate by 0.5%/year; 3-month interest rate by 0.3%/year, from 5.1%/year to 4.8%/year. Meanwhile, 6-month interest rate …

ADB lowers growth forecast of Viet Nam to 6%

On Sept 27th, 2016, ADB lowered economic growth forecast of Vietnam to 6% instead of 6.7%. Asian Development Bank (ADB) has just published updated Asian Economic Outlook (ADOU) 2016. In this report, Vietnam’s economy is assessed to continue operating well. However, Vietnam economic growth is being hampered by some challenges due to the decline of …

Chairman of People’s Committee of Ho Chi Minh City Nguyen Thanh Phong: HCMC’s drainage management is having problem

On Sept 27th, 2016, Chairman Nguyen Thanh Phong had a short discussion with journalists about the rain on Sept 26th and authority’s solutions against flooding. Mr. Phong said: “About preventing inundation, the city authority has been making a lot of efforts, but there are some things that can’t be solved promptly”. He also shared that …

Viettel’s abnormal way of building brand in foreign markets

While multinational corporations often use consistent brands worldwide, Vietnam Military Telecommunications Group (Viettel Telecom) chose the opposite way. This company has 10 different brands in 10 countries into which they have been investing. Last week, Ms. Luu Ly, Head of Viettel Global’s Communication Department shared with business community about their stories when doing business in …

World Bank: Vietnam Agriculture needs to change

World Bank (WB) observes that Vietnam’s agriculture sector has made breakthroughs in the past few decades, both in terms of productivity and output. However, the growth is slowing down. In Vietnam Development Report 2016 “Transforming Vietnamese Agriculture: Gaining More from Less”, World Bank states that Vietnam has become one of the top agricultural products exporting …

Masan brings fish sauce to Thailand, a small step to approach a 250 million-people market

Thailand has been dubbed ‘the world’s capital of fish sauce’. If achieving success here, Masan’s Chin-Su Thong Yod will easily reach the entire “inland Asean” market of about 250 million people (including Vietnam, Thailand, Myanmar, Cambodia and Laos). It is said that Vietnam and Thailand are regarded as the cradle of fish sauce. Though cuisine …

Seabank reached “Top 100 Typical Asia-Pacific Integration Brands” 2016

On Sept 25th, 2016, in HCMC, Southeast Asia Commercial Joint Stock Bank (SeABank) was voted in the “Top 100 Typical Asia-Pacific Integration Brands” 2016 by Vietnam Business Council and experts.  That SeABank is honored in “Top 100 Typical Asia-Pacific Integration Brands” 2016 is based on criteria such as: quality of products, services favored by consumers, …

TH true Milk won gold prizes in Russia

At the 25th International Food Exhibition (World Food Moscow 2016, taking place from Sept 12th to September 15th) in Expocentre, Russia, two of TH true Milk’s yogurt products won gold prizes of “typical products of the year”. That Vietnam pepper, coffee, longan and litchi became renowned in the world for their quality is not strange …