Day: January 18, 2022

After four months, the International Finance Corporation (IFC) and international lenders increased the loan package granted to Southeast Asia Commercial Joint Stock Bank (SeABank), from 150 million USD to 220 million USD in order to maintain the cooperation with SeABank in re-financing SMEs, women-owned businesses and the climate.

This funding package enables SeABank to better support businesses, narrow the financial gap and ensure sustainable development.

In the strategic roadmap to support women-owned businesses, SeABank has adopted preferential policies, including diversification of corporate credit granting with a competitive loan to value ratio and free digital service packages to support businesses in digital transformation.

“Supporting SMEs and women-owned businesses has always been a part of SeABank’s development strategy. Given the COVID-19 pandemic, SeABank takes this as one of its responsibilities in order to contribute to the general economic recovery. Receiving additional funds from IFC and major international lending institutions demonstrated SeABank’s ability to access international capital to support businesses, especially SMEs and women-owned enterprises. The additional capital will assist SeABank to strengthen its capability to support the growth of women-owned businesses as well as develop gender-smart action plans and intervention in line with the Bank strategy,” said Le Thu Thuy, General Director of SeABank.

In addition, SeABank is also committed to keeping seeking and financing green buildings and resource-efficient projects in alignment with the advice of IFC to help reduce greenhouse gas emissions, establish a consistent system for managing environmental, social and governance risks, strengthen the capacity to assess and manage environmental and social risks, support the sustainable development of the bank as well as help the expansion of its green project financing portfolio.

Source: Vietnam News Agency

As temperatures are plummeting to below zero degree Celsius on January 18, hoarfrost has blanketed the top of Mount Fansipan – the highest peak in Indochina – in the northern mountainous province of Lao Cai.

This is the fourth time such a rare weather phenomenon has appeared in the area since the beginning of winter. Lower temperatures and thicker layers of ice crystals on the mountain have been forecast for the evening of January 18 and the morning of January 19.

Hoarfrost is dangerous as it can cause damage to crops and livestock by inhibiting the growth and development of plants.

In the highlands of Lao Cai, the phenomenon often occurs during the winter months, especially in December, January and February.

Source: Vietnam News Agency

Da Nang will not impose social distancing or shut down the city in the upcoming Lunar New Year (Tet) Festival, according to Ngo Kim Yen, Vice Chairwoman of the central city’s People’s Committee.

At a meeting of the municipal Steering Committee for COVID-19 Prevention and Control on January 17, the official further said Da Nang will not apply any travel restrictions but maintain operation of supermarkets and traditional markets, while working to ensure the supply of necessities and smooth traffic during the holidays.

The affirmation was given amid rumours about the city’s closure and social distancing during the largest festival of Vietnamese people in a year.

Yen stated that although the number of COVID-19 infections in the city is rising, its response is effective with low fatalities and good control of the pandemic. Meanwhile, the city is injecting the booster doses of COVID-19 vaccines for locals as scheduled.

She asked localities across the city to strengthen the protection of markets and medical facilities against the pandemic, while advising residents to implement “5K message”.

The official requested the city Department of Health to make preparations against the possible rise in infections to avoid overload.

On January 17, Da Nang recorded 924 new COVID-19 cases, including 590 in the community.

The city is providing treatment to 2,087 COVID-19 patients, including 22 in underlying conditions, mostly old people with ground diseases.

Source: Vietnam News Agency

A seminar to promote agricultural trade and investment and cooperation between enterprises of the northern mountainous province of Ha Giang and Israel has been held in the Vietnamese locality.

Addressing the January 17 event, Chairman of the provincial People’s Committee Nguyen Van Son spotlighted advantages and strengths of Ha Giang, saying that the locality has focused resources on developing infrastructure and promoting economic development resources.

Meanwhile, representatives of Israeli businesses in Vietnam gave an overview of people and culture of their country, as well as advanced technological solutions in agriculture and a number of technology applications that are being deployed in localities in Vietnam.

Representatives of the two sides’ enterprises also discussed and proposed ideas to open up cooperation opportunities in a number of areas such as organic waste treatment model, leaf irrigation and fertilisation, solutions to harvest fruit in mountainous terrain areas and help plants improve their resistance to cold weather and frost.

Israeli Ambassador Nadav Eshcar highlighted the potential to promote cooperation between Ha Giang and Israel, saying that the seminar offers a good chance for the two sides to seek cooperation opportunities.

He expressed his hope that advanced technological solutions of Israel will be appropriate and feasible to Vietnam, contributing to promoting sustainable agriculture development in Ha Giang.

For his part, Son pledged to create all favourable conditions for Israeli partners.

Source: Vietnam News Agency

Fast digital transformation is considered the best way for Vietnamese agricultural sector to overcome difficulties to recover and develop in the post-pandemic period, thus affirming its role as a key pillar of the economy, according to experts.

Amid challenges from climate change, market fluctuations and changes in consumption trend, the sector is required to increase the proportion of digital agriculture in the economy.

Meanwhile, the data-driven digital transformation in agriculture and agricultural management is expected to help boost the sector’s growth through better market forecast and planning.

Deputy Foreign Minister Bui Thanh Son said that facing adverse impacts of COVID-19, businesses and farmers are fully aware of strengthening the application of smart and digital technologies to maintain stability in production and farm produce supply, thus preparing for post-pandemic recovery and sustainable development.

Minister of Agriculture and Rural Development Le Minh Hoan said that along with optimising advantages and local resources for the development of the multiple value agriculture and trademark building, Vietnam should build a data system and make its agricultural data and information more transparent to reach more markets and create a new breakthrough for the sector.

Many experts said that together with negative impacts, COVID-19 has also brought about chances for the Vietnamese agricultural sector to speed up stronger digital transformation and write its name in the international agricultural supply chain.

Digital transformation – way out for agricultural sector amid difficulties hinh anh 2

Illustrative image (Source: baodantoc.vn)

David John Whitehead from the Australian Business Association in Vietnam (Auscham) said that Australians are very open to Vietnamese farm produce, which means the chance for Vietnam to export more agricultural products to the market is high.

Currently, Vietnamese agricultural products are exported to many choosy markets, and the Australian market is similar. However, for consumers in Australia, manufacturers in Vietnam need to build their own brand, with quality ensured, so as to win consumers’ confidence that Vietnamese products are safe and of high quality, according to Whitehead.

In order to increase exports of key farm produce, closer coordination among ministries, sectors and localities in strengthening digital transformation and trade promotion as well as market connection is crucial.

However, many experts pointed to the need for Vietnam to focus more on preparing high quality human resources.

Associate Prof. Tran Dang Xuan from Japan’s Hiroshima University said that many Vietnamese farmers have still hesitated to renovate their cultivation practices and approach new farming techniques.

He stressed the need for the Government to focus more on developing digital agriculture, while strengthening communications among farmers to help them understand the benefit of the process, and equipping them with more knowledge and skills in conducting online transactions.

Source: Vietnam News Agency