Vietcombank receives Mobile Banking Initiative of the Year award
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has been awarded the “Mobile Banking Initiative of the Year” title by the Asian Banking & Finance (ABF) magazine.
Vu Thi Bich Thu, head of Vietcombank representative office in Singapore (R), receives Mobile Banking Initiative of the Year award (Source: Vietcombank)
Hanoi (VNA) – The Joint Stock Commercial Bank for Foreign Trade ofVietnam (Vietcombank) has been awarded the “Mobile Banking Initiative of theYear” title by the Asian Banking & Finance (ABF) magazine.
The bank received the title at the ABFRetail Awards 2018 held in Singapore on July 12.
Vietcombank’s app has all necessaryfunctions meeting consumers’ demand for financial transactions, and connectswith partners in different fields, including entertainment, shopping, aviationand securities.
Vietcombank has used modern methods ofpayment such as payment using QR code in more than 10,000 shops, restaurantsand websites in various services.
It has also applied modern technology inidentifying and authenticating transactions to serve users.
Currently, Vietcombank is rated one of thebest Vietnamese banks in terms of asset quality and profitability.
In 2017, the bank became the first inVietnam to report pre-tax profit of 11.341 trillion VND (499 million USD). Itsbad debts fell to only 1.1 percent, the lowest rate among major creditinstitutions.
Vietcombank aims to become the first bank inVietnam to join the 300 largest banks and financial companies in the world by2020.
Recently, the bank was named the best bankof Vietnam in 2018 by FinanceAsia.-VNA
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) posted over 7.72 trillion VND (336.2 million USD) in pre-tax profit in the first half of 2018, up 52.7 percent year on year.
The Government should create an ecosystem and suitable environment for new products and services as well as pioneer their use to promote the development of contactless payment methods. This could be a foundation for building e-government in Vietnam.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
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.
Vu Thi Bich Thu, head of Vietcombank representative office in Singapore (R), receives Mobile Banking Initiative of the Year award (Source: Vietcombank) 
