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Posts Tagged ‘year’

Banks to start year with challenges and oppotunities

In Uncategorized on January 12, 2011 at 7:14 am

Commercial banks are set to cope with challenges and opportunities in 2011 as monetary policies will be more flexible, Dr. Le Xuan Nghia, vice chairman of the National Financial Supervisory Committee, said in an interview with Dau Tu Tai Chinh Newspaper.

(Photo:Minh Tri)

With the global economy will surely recover in 2011, foreign investments will return strongly to emerging markets in Asia, including Vietnam, said Dr. Le Xuan Nghia, vice chairman of the National Financial Supervisory Committee.


“Statistics show foreign investments keep flowing constantly into Vietnam in the last four months. Despite the inflation rising relatively high, investors are not too worried about the possibly of an unstable macro economy as the basic rate caused by monetary policies remains low,” Nghia said.


The inflation will decrease to 7-8 percent in this year if the gasoline price is around US$85-90 per barrel, helping commercial banks to cut interest rates, he said.


“Commercial lenders had to cope with the difference between the long-term and short-term interest rates last year, which hit the banking system hard. Therefore they should strengthen their operation as soon as possible this year,” he said.


The deposit interest rate fluctuation at the end of 2010 showed the interest rate was not driven by both the monetary market and the governmental regulations, threatening the safety of banks’ operation, Nghia noticed.


“Lenders this year will also have to cope with issues from the foreign exchange rate. They should offer foreign currency loans with the interest rates, which are adequate to each type of clients,” he said.


The vice chairman of the National Financial Supervisory Committee also warned the competition of foreign-owned and local banks this year will become harsher as the formers will be allowed to take the dong deposits from Vietnamese clients.


“But I do not think local lenders will be so worried about that. Foreign banks remain behind local lenders as their weaker financial strength and a fewer number of branches nationwide. Moreover, the strict risk managements prevent them from taking risks in such a small market in Vietnam,” he said.


“Besides, human resource is also a tough challenge for foreign lenders. Therefore, the biggest competitor of local banks in the next couple year is still themselves.”


Local lenders will also have to change their entire accounting software to match up with new regulations in the Law of Credit Institutions, which took effective on Jan. 1st 2011, he said.


“The new Law of Credit Institutions has some more regulations including forbidding banks to deposit to each others and restraining the credit growth of banks,” Dr. Nghia said.

Source: SGGP

Capital to spend equivalent $10 million for Lunar New Year welfare

In Uncategorized on January 12, 2011 at 7:04 am

The Hanoi People’s Committee has decided to spend nearly VND200 billion (US$10 million) on purchasing gifts to help the vulnerable groups in society.

Hanoi authorities will spend VND20 billion to help the poor during the Lunar New Year holidays. (File photo)

The Tet gifts will be given to the poor, lonely seniors and welfare beneficiary families; in order that they too can enjoy a happy Lunar New Year, which begins on February 3.


Nguyen The Hung, deputy director of Hanoi Department of Labor, Invalids and Social Affairs, said the department is making every effort in ensuring that no person goes hungry, during the Tet holidays.


During the Tet holidays, more than 730,000 people will be offered gifts. These will include 1,000 old men, over the age of 100, and over 148,000 poor families.


Furthermore, the People’s Committee will use subscriptions in order to help disabled people enjoy the Tet holidays. Additional money will be given to orphans and the poor.


The capital will also give gifts worth VND100,000 to each drug addict; and each cadre will receive gifts worth VND200,000 each in rehabilitation centers.

Source: SGGP

City opens New Year Greeting Festival

In Uncategorized on January 8, 2011 at 4:22 am

The Ho Chi Minh City authorities have offered a festival to people from December 26 to January 2 in order to celebrate the New Year 2011.

The opening ceremony of the New Year Greeting Festival is held at the 23/9 (September 23) Park on December 26. (Photo: Sggp)

The event themed ‘2011 the youth’s year – year for children’ aims to celebrate the upcoming 11th National Congress of the Communist Party of Vietnam.


The weeklong festival will bring free and interesting programs, which will include the HCM City’s socio-economic achievement exhibition and many musical performances. 


Special art performances will be held at industrial zones such as Tan Thuan, Linh Trung 1&2, Le Minh Xuan, Tan Binh, Tan Tao, Hiep Phuoc, Cultural Center of District 12, Ben Duoc and Nga Ba Giong Martyr Memorial Site in Chu Chi District and finally the National Historical Cultural Park in District 9. These performances will be held on December 31.


An international food festival, featuring special dishes from over 20 countries, is taking place on September 23 in Ho Chi Minh City.


The event will include a cooking contest, in which visitors are given the opportunity to taste these special Vietnamese and world dishes. In addition, there will be a giant banh xeo (Vietnamese rice pancake) and musical shows and folk games, for people to enjoy.



Related article:
City to host international food festival

Source: SGGP

Overseas students join new year festival

In Uncategorized on January 8, 2011 at 4:09 am

A Festival of Overseas Students to celebrate New Year 2011 opened in Hanoi on Dec. 29 with the participation of about 500 students.

Vice President Nguyen Thi Doan welcomes foreign students

The event, the ninth of its kind, was jointly organised by the Tien Phong (Vanguard) newspaper, the Vietnam Television, the Sinh Vien Viet Nam (Vietnamese Students) newspaper and the Quoc Anh International Education Consultancy (QA) company.


At the event, overseas students joined an incense-offering ceremony and an exchange programme to share experiences in study and career.


On the occasion, Nguyen Dac Vinh, chairman of the Vietnam Students’ Association and QA company presented certificates of merit and gifts to 30 outstanding students.


In the afternoon the same day, a delegation of 52 overseas students was received by Vice State President Nguyen Thi Doan in Hanoi.


The students, coming from the United Kingdom, the United States, Australia, Japan, China and Singapore among others, were also presented with gifts and letters wishing for a new year.


 

Source: SGGP

Hanoi prepares to welcome New Year

In Uncategorized on January 8, 2011 at 4:08 am

International and Vietnamese disc jockeys will burn up the capital in a special New Year’s Eve countdown at the Hanoi Opera House on the evening of December 31.

                       DJ Jonathan Glaser from SwedenJonathan Glaser from Sweden, Tempo from USA and Tuan Kruise from Vietnam are the three talented DJ’s expected to make fans go crazy with their music on New Year’s Eve. They will play from 9 pm until well after midnight to welcome the New Year.

Pop star My Linh and musician Nguyen Duc Cuong will also take part in this event.

The show titled “Heineken Countdown Party” is being organized for the first time in Vietnam and is bound to bring excitement to the city in the first moments of the New Year.

The countdown party in Times Square in New York City is already a very popular global event and Hanoi hopes to create similar magic.

Source: SGGP

Vietnam Catholic Church’s jubilee year 2010 ends

In Uncategorized on January 8, 2011 at 4:03 am

A ceremony to close the Catholic Church of Vietnam Jubilee year 2010 has been hosted in the central province of Quang Tri.


The ceremony, is taking place from January 4-6, and has been co-organized with the La Vang Pilgrims’ 29th congress at the La Vang Parish, in Hai Lang District.


This is a large event for the Catholic Church of Vietnam and will attract a lot of priests, bishops and nuns nationally.


In addition, the ceremony also has representatives from other catholic churches worldwide, uncluding France, the US, Philippines, Malaysia, Italy, Korea, Thailand and Canada.


Several activities will be hosted in the three-day ceremony.

Source: SGGP

Hanoi lighting up for Lunar New Year

In Uncategorized on December 24, 2010 at 4:21 am




Hanoi lighting up for Lunar New Year


QĐND – Wednesday, December 22, 2010, 20:28 (GMT+7)

Hanoi is preparing for Tet by transforming the headquarters into a place of lights and decorations.


Vice Chairman of the municipal People’s Committee, Nguyen Van Khoi, instructed the Hanoi Lighting and Urban Equipment Company to operate the entire system of regular lighting starting at 6:00 p.m every day beginning December 25.


Between January 6 and February 8, the city will also operate a newly-installed lighting system to serve the 1000th Thang Long-Hanoi anniversary and decorate headquarters and streets to welcome the 11th National Party Congress and the founding of the Communist Party of Vietnam (February 3).


Flowers will be placed in front of the Central Party headquarters, National Assembly, agencies and the Presidential Palace.


Constructions projects and road work in the area will be halted from December 30 until the end of the Lunar New Year. The city will restrict trucks from entering the inner city during this time, excluding those transporting food and medical products.


Hanoi Power Corporation will be responsible for ensuring stable electricity supply for the party congress and the Tet Holiday.

Source: dtinews


Source: QDND

City to host “Welcome New Year 2011” festival

In Uncategorized on December 21, 2010 at 9:35 am

Ho Chi Minh City Youth’s Cultural House has mapped out numerous cultural activities to welcome in the New Year from December 24 to 31, according to the head of the Event Planning Service Department of the Youth’s Cultural House, Nguyen Hong Phuc.

On the streets, the air of Christmas is boisterous. (Photo: KK)

The weeklong festival, which is called “Welcome New Year 2011”, will bring free and interesting programs for the youth. These will include fashion and music performances, singing contest, exciting games and other activities.


On December 24, it will be the “Christmas Gala 2010” and the “Dance of Hair-Spring fashion” will be on December 31. These will be the main highlights of the festival. 


Ho Chi Minh City Youth’s Cultural House received more than 30,000 visitors in the “Welcome New Year 2010” festival.


 

Source: SGGP

City to host “Welcome New Year 2011” festival

In Uncategorized on December 21, 2010 at 9:28 am




City to host “Welcome New Year 2011” festival


QĐND – Monday, December 20, 2010, 21:26 (GMT+7)

Ho Chi Minh City Youth’s Cultural House has mapped out numerous cultural activities to welcome in the New Year from December 24 to 31, according to the head of the Event Planning Service Department of the Youth’s Cultural House, Nguyen Hong Phuc.


The weeklong festival, which is called “Welcome New Year 2011”, will bring free and interesting programs for the youth. These will include fashion and music performances, singing contest, exciting games and other activities.


On December 24, it will be the “Christmas Gala 2010” and the “Dance of Hair-Spring fashion” will be on December 31. These will be the main highlights of the festival. 


Ho Chi Minh City Youth’s Cultural House received more than 30,000 visitors in the “Welcome New Year 2010” festival.


Source: SGGP


Source: QDND

Road works construction to pause for New Year holidays

In Uncategorized on December 16, 2010 at 2:28 pm




Road works construction to pause for New Year holidays


QĐND – Thursday, December 16, 2010, 21:3 (GMT+7)

The Ho Chi Minh City Department of Transport on Wednesday announced a plan to temporarily halt the construction of road works during the western and lunar New Year celebrations.


Specifically, for the road works involving the installation of technical infrastructure, the construction will be halted from December 31 to January 1, 2011.


Companies have been ordered to urgently restore any road surface that may need repairing, and to clean construction sites well before December 31.


With regard to drainage system upgrading projects, they will be permitted to keep railings around the construction site, but will have to clean the area thoroughly.


During the Tet holidays, the technical infrastructure installation will be ceased from January 18 to February 10.


Execution units have to clean up the sites and restore any road surface that may need repairing before January 26.


Source: SGGP


Source: QDND