The Asian Infrastructure Investment Bank (AIIB) said on July 17 that its board of directors had approved a 100-million-USD loan to the Vietnam Prosperity Joint Stock Commercial Bank (VPBank) to help sustain business activities disrupted by the COVID-19 pandemic.
Hanoi (VNA) - The AsianInfrastructure Investment Bank (AIIB) said on July 17 that its board ofdirectors had approved a 100-million-USD loan to the Vietnam Prosperity JointStock Commercial Bank (VPBank) to help sustain business activities disrupted bythe COVID-19 pandemic.
Co-financed with theInternational Finance Corporation, the loan is offered to help the bank expandlending to the private sector, including small and medium-sized enterprises, AIIBsaid in a statement.
This is AIIB's first projectfinancing in Vietnam, China’s Xinhua News Agency reported.
"Small and mediumenterprises are the backbone of the economy and by injecting liquidity into themarket, we can help this critical sector as part of the overall economicrecovery in Vietnam," said AIIB Vice President, Investment Operations,D.J. Pandian.
As of July, AIIB has approved atotal of 16 projects under its COVID-19 Crisis Recovery Facility, amounting toover 5.9 billion USD to support 12 members in navigating the challenges ofthese highly uncertain times, the statement said./.
Major banks are still expecting to report growth in the first quarter and for the rest of 2020 despite the disruptions caused by the COVID-19 pandemic.
Banks are ready to seize business opportunities in the coming months as the COVID-19 pandemic has been basically controlled in Vietnam and domestic production and business are expected to accelerate soon.
Banks, especially State-owned banks, are expected to increase their capital significantly this year as they are allowed to retain profits or pay dividend in shares instead of cash as previously.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Illustrative image (Photo: Internet) 
