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HDBank wins Asian Banking and Finance Award for Sustainability Initiative of the Year



Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has won the 2023 Asian Banking & Finance Award in the “Sustainability Initiative of the Year – Vietnam” category.

HDBank wins Asian Banking and Finance Award for Sustainability Initiative of the Year hinh anh 1At the event (Photo: HDBank)

HCM City – Ho Chi Minh City Development Joint Stock
Commercial Bank (HDBank) has won the 2023 Asian Banking & Finance Award in
the “Sustainability Initiative of the Year – Vietnam” category.

Asian Banking and Finance, a leading financial magazine
founded in 2008, gives away the Wholesale Banking Awards and Retail Banking
Awards annually to honour banks and financial institutions by region and
country for their outstanding performance, innovation and excellence.

This year, besides HDBank, big names in the region and Vietnam
such as CIMB, HSBC, Standard Chartered, and Vietinbank were also among the

HDBank is the only bank in Vietnam to win in this category.

The jury comprising experts from all the four largest international
accounting and professional services firms in Singapore appreciated HDBank for
meeting many stringent criteria in terms of financial indicators and ESG
(environment, society and governance) and carrying out community activities.

The banking industry plays an important role in promoting the
circular economy by offering financial products and services to individuals,
households and businesses, and supporting business activities and investments
that have a positive impact on the environment and society.

Recognising the importance of this, since 2018 HDBank has been
implementing a number of measures to expand its resources for promoting the
development of green finance, helping the Government meet its commitment of
achieving net zero greenhouse gas emissions by 2050.

Over recent years, HDBank has received funding and comprehensive
consultancy for sustainable development, green finance, green transformation,
and, especially, development of financial products for women-owned small and
medium-sized enterprises from reputed international financial institutions such
as IFC, DEG (a development financial institution owned by German state-owned
development bank KFW), Proparco (the French Development Finance Institution),
Leapfrog Investments, Asian Development Bank, and Affinity Equity.

HDBank is one of the pioneers in promoting sustainable
development, green finance and green transformation, applying ESG standards in
business activities to achieve long-term sustainable development and
proactively carrying out CSR activities.

Going forward HDBank will continue to support SMEs and focus on
incorporating sustainable development goals and ESG with its business
development goals./.



Up to 116,300 enterprises established in nine months: GSO

As many as 116,300 enterprises registered for establishment, up 3.1% year on year, with combined registered capital of 1,086.8 trillion VND in the first nine months of 2023.



In the January-September period, 48,900 enterprises resumed their operations, a year-on-year decline of 3.2%, raising the total number of newly-established businesses and firms resuming operations to 165,200, up 1.2% year on year.

In September alone, there were 12,684 new enterprises with total registered capital of 117.2 trillion VND (4.8 billion USD) and 80,000 labourers, up 10.6% in the number of enterprises, down 13.9% in terms of registered capital and up 29.3% in the number of employees compared with the same period.

In the review period, the number of enterprises that temporarily suspended operations for a certain period of time was 75,800, up 21.2% from the same period last year.

Meanwhile, 46,100 businesses stopped their operations, waiting for dissolution procedures, up 26% year on year, and 13,200 enterprises completed dissolution procedures, down 4.3%.

Results of a survey on business trends of enterprises in the processing and manufacturing industry in the third quarter of 2023 showed that 30.1% of the respondents believed that their business performance was better than in the second quarter, while 37.5% said that the production and business situation was stable and 32.4% said they were facing difficulties.

GSO General DirectorNguyen Thi Huong said the industrial production situation will be better in the fourth quarter than the third quarter of 2023 in terms of production volume and export orders, adding that they can’t obtain high growth momentum but are expected to prosper compared with the first nine months of the year.

She suggested some solutions to support the industrial sector in overcoming difficulties, stabilising and developing production, which include stabilising electricity, water, and fuel prices to limit increases in production costs.

Huong also underlined the need to stimulate demand in the domestic market to assist businesses in finding partners to sell their products. It is necessary to reduce loan interest rates and facilitate procedures relating to accessing loans for businesses that face financial difficulties, especially small and micro-size enterprises so that they have capital to promote production and business activities in a more timely and effective manner, she said.

Source: Nhân Dân


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Emerging trends expected to power Vietnam’s tourism boom: study



Several ongoing trends in the Vietnamese tourism sector have contributed to its strong recovery in the wake of the global COVID-19 pandemic, with the increasing travel demands of Gen Z and families with kids as significant contributors, according to the Visa Global Travel Intentions Study (GTI) 2023.

Vietnam, with its stunning landscapes and diverse cultural heritage sites, has become a popular destination for travelers from around the world.

According to the study, it is vital for both travelers and industry stakeholders to understand new trends in Vietnamese tourism following the pandemic.

In terms of leisure trips, families with kids and ‘Silvers’ – individuals older than 60 – made an average of 2.4 trips over the past 12 months, more than any other market segments, according to the GTI 2023.

Besides ticking visiting landmarks, Vietnamese tourists are now placing a strong emphasis on leisure-focused and experiential journeys.

Relaxation was the main driver of travel, followed by shopping and exploration.

As the country blossoms into a playground for adventure seekers and culture enthusiasts, tourists are opting for personalized experiences that enable them to immerse themselves in local customs, traditions, and cuisine.

Environmental awareness was also a primary catalyst for travel over the past year. As such, Vietnamese travelers demonstrated remarkable interest and action in sustainable travel.

Up to 73 percent of those surveyed said they were either interested or very interested in sustainable travel options, while half had actively looked for these options when planning trips.

With an increasing number of travelers seeking eco-conscious options, the tourism sector is witnessing a shift toward greener travel practices, more support for local communities, and the preservation of natural resources.

Given the country’s growing middle class and their increasing disposable income, Vietnamese travelers are embarking on more domestic and international trips and they seek unforgettable experiences and bonding opportunities.

About one-fifth of the respondents said visiting and connecting with friends or families would be a key motivation for travel in the next year.

Shopping has also become an integral part of the Vietnamese travel experience, with many Vietnamese travelers seeking out unique souvenirs and indulging in retail therapy as part of their journeys.

Sustainable tourism is increasingly preferable for Vietnamese travelers

Sustainable tourism is increasingly preferable for Vietnamese travelers.

Amid the strong development of digital technology, Vietnamese tourists prefer seamless transactions and optimal security measures.

The digital revolution is transforming payment methods, and Vietnamese travelers have embraced the convenience of credit, debit, and pre-paid cards.

Almost all Vietnamese respondents in the GTI 2023 indicated that they intended to use these cashless payment options during their journeys, streamlining transactions and enhancing their overall travel experiences.

Accordingly, 64 percent of the Vietnamese respondents said they brought their digital wallets along with them for their travels.

Thus, the incorporation of cashless payment solutions has become a pivotal pillar in travel, fostering convenience, security, and efficiency for travelers while contributing to the industry’s overall vitality.

“Vietnam’s tourism is entering a new era where the role of digital payments will advance side by side with the industry as customers demand more efficient and secure payment services,” said Dang Tuyet Dung, Visa country manager for Vietnam and Laos.

“Adapting swiftly, hotels, restaurants, and tour operators must cater to evolving traveler needs, supported by the growing use of cashless payment methods for added convenience.”

Amid the global recovery from COVID-19, Vietnam’s tourism sector is rebounding. Domestic tourism has been pivotal, with locals exploring their own country, bolstering local businesses and jobs.

Vietnam welcomed over 7.8 million foreign visitors between January and August this year, meeting 98 percent of its full-year target of eight million international tourist arrivals.

The tourism sector also served 86 million domestic tourist arrivals in the eight-month period, according to the General Statistics Office.

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Zhejiang Trade Exhibition opens in Hanoi



The 2023 Zhejiang International Trade Exhibition and the 11th Zhejiang Export Fair, the largest and oldest expo independently held by China’s Zhejiang authority in ASEAN, opened at the Hanoi International Convention Centre on September 28.

Zhejiang Trade Exhibition opens in Hanoi hinh anh 1At the opening ceremony of the exhibition (Photo: VNA)

Hanoi – The 2023 Zhejiang International Trade Exhibition
and the 11th Zhejiang Export Fair, the largest and oldest expo independently
held by China’s Zhejiang authority in ASEAN, opened at the Hanoi International
Convention Centre on September 28.

The 4,000sq.m expo features 120 booths, displaying
products in hardware and machinery, textiles and inputs, interior and exterior
furniture, electronics and household appliances.

The three-day event is hosted by the Department of Commerce of Zhejiang province, and co-organised by Zhejiang Yuanda International Exhibition Co Ltd and
the Vietnam National Trade Fair and Advertising Company (VINEXAD).

Deputy Director of the Asia-Africa Market Development under the Ministry of
Industry and Trade  (MoIT) To Ngoc Son
said this is the 11th year the two sides have coordinated to
organise the trade promotion activity which marks the full recovery of economic
and trade exchanges between the two nations after three years of hiatus due to COVID-19.

Zhejiang Trade Exhibition opens in Hanoi hinh anh 2Deputy Director of the Asia-Africa Market Development To Ngoc Son speaks at the opening ceremony. (Photo: VNA)

The event is expected to create more cooperation opportunities for businesses
from both nations in the context that the global economy is facing a gloomy outlook,
he said, adding Zhejiang province – an important gateway in China’s eastern
region has an important role to play in the Vietnam – China trade, with Vietnam
– Zhejiang trade revenue accounting for 10% of the total trade between
the two nations in 2022.

Launched in 2011, the expo has been a platform not only for product exhibition
and promotion but also for Vietnam and China to strengthen economic and cultural
exchanges and multifaceted cooperation between their localities.

Last year, Zhejiang’s exports
to Vietnam reached 14.5 billion USD, an increase of 17.99%, while imports were 6
billion USD, up 14.21% over the same period last year.

The exhibition will run until September 30./.


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