Day: August 6, 2022

A delegation of Vietnamese companies paid a working visit to the Russian province of Krasnodar – known as “breadbasket of Russia” – from August 2 to 5 to explore business cooperation with local enterprises.

The potential for exporting agricultural products and food from Krasnodar province to Vietnam was tabled at a roundtable held on August 3.

Egor Robskyi, Deputy Director of the Chamber of Commerce and Industry of Krasnodar province, affirmed the great potential for business collaboration between the province and Asia-Pacific region, and Vietnam in particular, when the two countries established a full strategic partnership and Vietnam has signed a free trade agreement with the Eurasian Economic Union (EAEU).

Kirill Arzamazov, deputy director of the Department of Investment and Small and Medium Business Development of Krasnodar province, talked about the possibilies of developing economic parnership between Kuban region and Vietnam, adding that such a meeting create momentum to increase bilateral trade.

Representatives of Vietnamese companies and Krasnodar firms discussed the potential for signing contracts and exporting of sunflower and vegetable oil, cereals, rice, soybeans and corn, among others.

On this occasion, the Vietnamese delegation visited a number of companies in Kuban region to learn more about the advantages of local businesses.

The trade turnover between Krasnodar province and Vietnam exceeded 32 million USD last year, up 96% compared with that of 2020. The figure reached almost 95 million dollars in the period from the beginning of this year to date./.

Source: Vietnam News Agency

Thailand’s Kasikornbank (KBank) has opened a branch in Ho Chi Minh City with an aim to linking trade and investment network with the Southeast Asian country.

The bank has served Vietnamese customers via its two representative offices in Hanoi and HCM City since 2015.

Speaking at the opening ceremony held on August 5, Thai Ambassador to Vietnam Nikorndej Balankura said that Thailand is currently the 9th largest foreign investor in Vietnam and also the largest trading partner of the country in the Association of Southeast Asian Nations (ASEAN) region.

The opening of a branch by KBank in HCM City is an important milestone reflecting the bank’s strategic vision in strengthening economic ties between Thailand and Vietnam, he said.

Nguyen Van Dung, Deputy Director of the State Bank of Vietnam, HCM City branch said putting into operation of KBank branch in the city will raise the number of foreign bank branches in the city to 32, contributing to diversifying the activities of the credit institutions in the locality.

Sharing about the potential of the Vietnamese market, Kattiya Indaravijaya, CEO of KBank said that Vietnam is a rising star in the Southeast Asia region with high economic growth. The bright prospects of the economy can be attributed to the success in controlling the pandemic thanks to effective policies of the Government of Vietnam along with efforts to promote a cashless society.

According to the World Bank, Vietnam’s GDP growth in 2022 is expected to increase by 5.5%. The country has great resilience thanks to the fact that 60% of its population is of working age and digital-savvy.

Kattiya said that KBank aims to be the first foreign bank in Vietnam to offer fully-fledged “digital product solutions” to all customer segments.

KBank currently has an overseas service network covering the AEC 3 countries and beyond, for a total of 16 nations./.

Source: Vietnam News Agency

The construction of a Vietnam welcome gate on an overseas Vietnamese road in Nong Khai province, northeastern Thailand, has begun.

A ground-breaking ceremony of the work was held on August 6 by the Vietnamese Consulate General in Khon Kaen in collaboration with the Nong Khai authorities, the Vietnamese Association and overseas Vietnamese organisations in Thailand.

This activity aims to celebrate the 46th anniversary of the establishment of Vietnam-Thailand diplomatic relations (1976-2022).

Addressing the event, Consul General Chu Duc Dung said the construction of the welcome gate is evidence for the traditional ties, solidarity and friendship between Vietnam and Thailand.

He expressed his wish that Thai people of Vietnamese origin in Thailand in general and Nong Khai province in particular continue to serve as a bridge to cultivate friendship between the peoples of Vietnam and Thailand.

Governor of Nong Khai Monsit Paisanthanawat appreciated the contributions of overseas Vietnamese in the province to the local socio-economic development. The construction of the Vietnam welcome gate is a symbol of the two countries’ friendship, he said.

Representatives of the Vietnamese Association in Thailand said before returning to Vietnam in 1960, overseas Vietnamese in Nong Khai province had made donations in cash and in kind to build a road in the locality in order to thank the King and Thai authorities who supported them in difficult times./.

Source: Vietnam News Agency

The domestic financial market has developed rapidly with outstanding results on the basis of cutting-edge technologies, Prime Minister Pham Minh Chinh said at a meeting of the National Steering Committee for Comprehensive Finance in Hanoi on August 6.

Banking services have also made quick progress, catching up with the development of the international market, according to the PM, who is also head of the committee.

However, shortcomings still remain during the implementation of comprehensive finance, he said, adding that residents in rural and remote areas still find it hard to access financial sources.

Black credit has remained public concern and agencies and organisations have yet to coordinate concertedly and effectively in the implementation of comprehensive finance, the leader pointed out.

He noted that the Government issued Decision No. 149/QD-TTg on the approval of a national strategy on comprehensive finance by 2025 with a vision towards 2030.

The strategy sets out viewpoints, targets, tasks and solutions to accelerate the access and use of financial products and services for all people and businesses, he continued.

The issuance of the strategy reflects the Party’s and the State’s consistent policy on boosting comprehensive growth towards sustainability in the long-term, and ensuring the harmony between economic growth, social progress and equality and environmental protection, the PM stressed.

The meeting looked into the implementation of the strategy over the past time, and updates on the situation to better the work./.

Source: Vietnam News Agency