Deutsche Bank appoints new chief country officer for Vietnam Deutsche Bank has just announced the appointment of Hans-Dieter Holtzmann (49) as chief country officer and head of Global Transaction Banking (GTB) in Vietnam, effective from August 16, 2018. In his capacity as chief country officer, Holtzmann will report to Werner Steinmueller, member of the Management Board and APAC Head of Deutsche Bank, and in his GTB capacity, to Kaushik Shaparia, head of Global Subsidiary Coverage, GTB Foreign Exchange and Corporate Cash Management for Asia. Announcing the appointment, Steinmueller said, “We are pleased to have a colleague of Hans-Dieter’s caliber in this role. As one of our key markets in Southeast Asia, our Vietnamese franchise has shown profitable growth and we are excited about the country’s outlook. This is why last year we significantly increased our capital base in this market, providing the bank with more resources to support our clients’ … [Read more...] about BUSINESS NEWS IN BRIEF 20/8
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New enterprises up 5.3% in H1 More than 64,350 new enterprises were formed in the first half of this year with a total registered capital of VND648.9 trillion (US$22.95 billion). These figures, marked year-on-year increases of 5.3 per cent in the number of businesses and 9 per cent at the level of capital, the Business Registration Management Agency, operating under the Ministry of Planning and Investment reported. Experts at the agency attributed the period’s positive performance to the improving business conditions and registration procedure. According to experts, the newly-established firms have a tendency to rise since the beginning of this year. Notably, the second quarter of this year saw the highest number of new firms and level of registered capital over the past five years with 37,750 units, registering $11.8 billion in capital, up 41 per cent and 33 per cent, respectively. In the first six months, the average capital for an enterprise reached VND10.1 billion, surging … [Read more...] about BUSINESS IN BRIEF 6/7
Viet Nam News By Thu Hằng Have you ever seen a garbage bag sitting (and stinking) in front of your house, even though you hung a sign saying, “Please do not leave trash here”? It doesn’t take much looking around to see the effects of indiscriminate litter in the countryside and in big cities. Piles of trash make the streets look bad and seriously affect the environment and human health. Unfortunately, littering occurs daily and is very difficult to control. Some claim the reason is that rubbish bins have not been arranged properly on the streets and in public spaces. Others simply follow others’ behaviour because they think their awareness alone won’t solve the problem. An image depicting the indiscriminate discharge of waste has been shared on social networks in recent days. It has attracted a great deal of concern, and many people have hailed it as one solution to the social evil of littering. The photograph shows a banner on the wall … [Read more...] about Do litterbugs deserve public naming and shaming?
In late March, Hong Leong Bank Vietnam, one of the largest and longest-standing foreign-owned banks in the country, announced the appointment of a new Vietnamese General Director, Mr. Duong Duc Hung. Mr. Hung becomes the second Vietnamese leader holding the highest position in a foreign bank in Vietnam, after Mr. Pham Hong Hai. Since HSBC Vietnam appointed Mr. Hai as its first-ever Vietnamese CEO and the first by a foreign-owned bank in Vietnam in 2014, it can be clearly seen that Vietnamese personnel are increasingly occupying the most important positions in the country’s foreign-owned financial organizations. Significant demand Large foreign banks in Vietnam have correspondingly large human resources (HR) and most managerial and senior positions, notably, are Vietnamese. For example, HSBC Vietnam has nearly 1,300 employees and just 2 per cent or so are expats. “Our executive committee is composed of 15 senior officials, with the majority being … [Read more...] about Low in number
New container port helps shorten way to Europe, Americas PM Nguyen Xuan Phuc on Sunday attended the grand opening of Hai Phong International Container Terminal, which allows direct shipments to Europe and the Americas. Present at the ceremony included Japanese Ambassador to Viet Nam Umeda Kunio and representatives of the city local authorities. The Terminal means exports from North Viet Nam will not have to be transited through other ports before reaching the above markets, thus helping reduce business costs and increase competitiveness of Vietnamese exports. The Terminal is jointly invested by Sai Gon Newport Corporation (Viet Nam), MITSUI O.S.K Lines and Itochu (Japan) and Wan Hai Lines (Chinese Taipei), in which the Vietnamese corporation holds 51% stake. Located in Cat Hai district, it is the first deep-water seaport in the Northern region, capable of receiving vessels up to 160,000 DWT. Construction of the terminal began on May 12, 2016. Vietjet Air to open Hai Phong-Busan … [Read more...] about BUSINESS IN BRIEF 15/5