Banking network’s biggest Enterprise Resource Planning system applied
The biggest Enterprise Resource Planning (ERP) system in Vietnam’s banking sector was officially applied at the State-owned Bank for Investment and Development of Vietnam (BIDV) on January 26.
BIDV and the FPT Information System Corporation sign a document on the official application on Jan. 27 (Photo: VNA)
Hanoi (VNA) – The biggest Enterprise Resource Planning (ERP) systᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚem in Vietnam’s banking sector was officially applied at the State-owned Bank for Investment and Development of Vietnam (BIDV) on January 26.
The ERP system, designed by the FPT Information System Corporation, ran on a trial basis from October 2015 and helped conduct more than 11 million transactions at BIDV on December 31, doubling the transaction number on normal days.
Also, the system did not overload when some 1,000 transactions were made simultaneously.
BIDV’s 185 branches and 233 units nationwide successfully operated the ERP system, helping the bank modernise its enterprise resource planning, increase precision and minimise risks.
The construction of the ERP system for BIDV included a great amount of work and required advanced techniques. Although completing the project on schedule was a real challenge, the completion one month ahead of schedule was possible thanks to efforts from both the bank and the designer, said Director General of the FPT ERP Services Co. Ltd Mai Cong Nguyen.-VNA
The Ministry of Finance has instructed commercial banks to completely stop over-the-counter tax payments and work with tax agencies to implement online tax payments by the beginning of December.
Domestic commercial banks need to give top investment priority to information technology if they want to develop better retail banking strategies, according to independent market watchdogs.
The outlook for the Vietnamese banking system is stable, driven by the country's good economic growth and stabilising asset quality and good liquidity.
The Bank for Investment and Development of Vietnam (BIDV) has made its way into Global 2000, a list of the world’s largest and most powerful enterprises selected by US business magazine Forbes.
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.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
BIDV and the FPT Information System Corporation sign a document on the official application on Jan. 27 (Photo: VNA)
