Nearly 20 commercial banks lower deposit rates


Hanoi: Nearly 20 commercial banks in Vietnam have adjusted deposit rates since the beginning of this month, with most lowering rates.

One of the Big4, the Bank for Investment and Development of Vietnam (BIDV), earlier this week reduced online deposit rates by 0.2 percentage points for terms of 1-11 months and 24-36 months, and by 0.1 percentage points for 12-18 month term.

The Vietnam Bank for Agriculture and Rural Development (Agribank) cut deposit rates by 0.1 percentage points and only maintained a 3% per year rate for 6-9 month terms from March 15.

Agribank has the lowest 1-5 month term rate among the Big4, at 1.6% per year.

Among the Big4, deposit rates at Vietinbank are slightly higher, at 1.6-5% per year.

Earlier this week, Saigonbank suddenly increased rates for long-term deposits, while reducing short-term rates. Accordingly, rates for 1-12 month deposits were cut by 0.1-0.2 percentage points while 18-36 month term rates increased by 0.2-0.4 percentage points to around 5.4-5.8% per year.

From t
he beginning of March, 17 commercial banks have adjusted their deposit rates so far, four of which cut rates more than twice, including BaoViet Bank, GPBank, BVBank and PGBank. Rates for online deposits are currently around 1.6-6.2% per year.

Sacombank offers the highest rate for 36-month term at 6.2%.

The highest rate for 1-2-month term belongs to CBBank at 3.6%, followed by MSB and NCB at 3.5%, Dong A Bank at 3.3%, and VietBank, Viet A Bank and OceanBank at 3.1%.

For 6-month term, ABBank offers the highest rate at 4.7%.

Only eight banks offer rates higher than 5% for 12-month deposits.

According to statistics of the State Bank of Vietnam, deposits at banks were estimated to total 13.5 quadrillion VND (302 billion USD) as of the end of 2023, the highest figure ever recorded.

A report by broker VNDirect forecast that the central bank might cut operating rates by another 0.5 percentage points in the second quarter of 2024, bringing the refinancing rate to 4% and discount rate to 2.5%.

Accordingly, the a
verage 12-month deposit rate is expected to remain low at around 4.5-5% per year in 2024.

The Government also asked for efforts to lower lending rates to support socio-economic recovery./.

Source: Vietnam News Agency

Azerbaijani PM Ali Asadov offers condolences to his Russian counterpart

Prime Minister of the Republic of Azerbaijan Ali Asadov has sent a letter of condolences to Prime Minister of the Russian Federation Mikhail Mishustin.

In his letter, Azerbaijani Prime Minister Ali Asadov said he was deeply saddened by the news of numerous casualties and injuries as a result of a terrorist attack at the Crocus City Hall concert venue in Moscow.

PM Ali Asadov extended his sincere condolences to the families and loved ones of those who were killed and wished the injured a speedy recovery.

Source: Azerbaijan State News Agency

Thai Binh seeks Swiss investment at Zurich seminar


Geneva: A working delegation from the northern province of Thai Binh, in collaboration with the Switzerland-Vietnam Business Gateway (SVBG) and the Swiss-Asian Chamber of Commerce (SACC), held a seminar in Zurich city on March 22 to showcase local investment potential and attract Swiss businesses to the locality.

Speaking at the event, Chairman of the provincial People’s Committee Nguyen Khac Than said Thai Binh boasts advantages in land bank for industrial development, with 10 industrial zones and 49 industrial clusters covering nearly 3,000ha ready to welcome investors.

Thai Binh always welcomes investors from around the world, especially those from Switzerland, to explore and invest there, he said, hoping that the Vietnamese Embassy in Switzerland and business support organisations such as Swiss Global Enterprise, SwissMEM, Swiss Textiles, SACC and SVBG will facilitate connections between the province and Swiss companies and investors.

Thai Binh commits to all possible support for foreign firms, especia
lly those from Switzerland, to boost cooperation and investment, he added.

In the Q and A session, the Vietnamese delegates discussed Thai Binh’s specific areas open to Swiss investment, including finance, banking, insurance, manufacturing, pharmaceuticals, food processing, renewable energy and tourism services./.

Source: Vietnam News Agency

Non-Aligned Movement Parliamentary Network and Inter-Parliamentary Union sign MoU

The Non-Aligned Movement Parliamentary Network and the Inter-Parliamentary Union have inked a Memorandum of Understanding on the margins of the 148th Assembly of the Inter-Parliamentary Union in Geneva.

The document was signed on behalf of the Non-Aligned Movement Parliamentary Network by Sahiba Gafarova, the Speaker of the Milli Majlis of the Republic of Azerbaijan and Chairwoman of the Parliamentary Network, and on behalf of the Inter-Parliamentary Union by Martin Chungong, the IPU Secretary General.

Following the signing ceremony, the sides noted that the Non-Aligned Movement Parliamentary Network, established on the initiative of President of the Republic of Azerbaijan Ilham Aliyev, plays an important role in expanding parliamentary diplomacy and deepening cooperation between the legislative bodies of the Non-Aligned Movement member states. They emphasized that the cooperation between the Non-Aligned Movement Parliamentary Network and the Inter-Parliamentary Union will serve to diversify activities in
this area.

They also hailed the development of relations between the Milli Majlis of the Republic of Azerbaijan and the Inter-Parliamentary Union.

The signed memorandum will enhance ties between the two organizations and promote cooperation through parliamentary diplomacy on issues of common concern.

Source: Azerbaijan State News Agency

Vinh Long needs to fully tap potential to become modern, ecological province: PM


Hanoi: Prime Minister Pham Minh Chinh has asked the Mekong Delta province of Vinh Long to fully tap its potential and advantages to become a modern and ecological province, with a development level higher than the national average.

Speaking at a conference announcing the province’s master plan for 2021-2030 with a vision to 2050, PM Chinh highlighted Vinh Long’s strategic location between Ho Chi Minh and Can Tho cities, saying that it is convenient for both road and waterway transportation. As the country’s leading food producer, the province holds vast potential for developing rice, industrial crop and fruit cultivation, catering to both domestic and export markets. Tourism development was also mentioned as a promising avenue.

He suggested that Vinh Long should develop hi-tech agriculture; historical, cultural and ecological tourism; and industries in service of agriculture and rural areas.

Focus should be given to emerging sectors such as green transition and digital transformation, circular and knowledg
e-based economies, with innovation as a key driving force, he said, underscoring the importance of public-private partnerships, administrative reform and greater solidarity for local development.

Aligning with Vietnam’s national focus on green growth as a core of economic restructuring, PM Chinh stressed the need for Vinh Long to further invest in transportation and urban infrastructure, education and training to develop a skilled workforce; enhance the capacity of climate change adaptation, natural resource management and environment protection.

He believed that investment projects will bring significant benefits if conducted in the spirit of “harmonising interests, sharing risks’, contributing to the overall local economic development.

The leader took the occasion to ask ministries and agencies to work closely with Vinh Long to improve its business environment and help firms save costs.

The event also witnessed the provincial authorities granting in-principle approvals, investment certificates, and memo
randa of understanding for 13 projects with a total capital topping 19.6 trillion VND (816 million USD).

Under the approved master plan, Vinh Long aims to become a hi-tech agricultural and ecological hub in the Mekong Delta by 2030. The plan envisions a province boasting a modern infrastructure system in sync with the region./.

Source: Vietnam News Agency

‘Azerbaijan’s chairmanship of Non-Aligned Movement breathed new life into this Organization’

Azerbaijan’s chairmanship of the Non-Aligned Movement (NAM) had breathed new life into this Organisation and defined new directions in its work, said Speaker of the Parliament of the Republic of Sierra Leone Abbas Chernor Bundu as he met with Speaker of Azerbaijan’s Milli Majlis Sahiba Gafarova on the sidelines of the 148th Assembly of the Inter-Parliamentary Union held in Geneva, Switzerland.

During the meeting, the parties exchanged views on the possibilities of promoting inter-parliamentary ties, as well as stressed the importance of cooperation within international organizations.

The sides hailed Azerbaijan’s important role in the activities of the Non-Aligned Movement and the Parliamentary Network. It was remarked that important steps had been taken during the Azerbaijani chairmanship of the Non-Aligned Movement towards the Organisation’s institutional growth. It was further mentioned that the Parliamentary Network of the Non-Aligned Movement and the Youth Organisation of the Non-Aligned Movement had
been established at the initiative of President of Azerbaijan Ilham Aliyev.

Speaker of Milli Majlis Sahiba Gafarova mentioned that the Parliamentary Network of the Non-Aligned Movement plays an important role in the development of parliamentary diplomacy, expansion of ties between the legislative bodies of the Member States of the Organisation and manifestations of solidarity to address several issues of concern to humanity.

Speaker of the Parliament of the Republic of Sierra Leone Abbas Chernor Bundu offered congratulations on the initiatives and efforts to expand the activities of the Parliamentary Network of the Non-Aligned Movement, saying that the Azerbaijani chairmanship had breathed new life into this Organisation and defined new directions in its work. He said that the issues addressed by the Non-Aligned Movement Parliamentary Network concurred with the new challenges, and commended, in particular, Azerbaijan’s position on the issue of decolonization.

The sides emphasized the significance of promot
ing inter-parliamentary relations, stressing that the meetings and dialogues built within the Inter-Parliamentary Union and other international organizations serve to deepen the ties between the legislative assemblies of both countries.

The parties also exchanged views on other issues of mutual concern.

Source: Azerbaijan State News Agency

Azerbaijani, Russian FMs hold phone talk

On March 23, a telephone conversation took place between Azerbaijan’s Minister of Foreign Affairs Jeyhun Bayramov and Minister of Foreign Affairs of the Russian Federation Sergey Lavrov.

During the telephone conversation, Minister Jeyhun Bayramov expressed deep sorrow over the terrible terrorist attack that resulted in numerous casualties in the Crocus City Hall center in Moscow on 22 March.

The minister has expressed deep condolences to the families and relatives of the victims, the people and government of Russia, and wished a speedy recovery to the victims.

It was emphasized that the Republic of Azerbaijan, as a state suffering from terrorism, categorically condemns all its forms and manifestations.

Source: Azerbaijan State News Agency

‘Kenika’ reveals that the government is ready to move forward with helping crime victims.


Bangkok, “Kenika” reveals that the government is ready to move forward to help crime victims. Open the justice hotline, call 1111, press 77, free 24 hours a day, raising the level of effective assistance to the public.

Ms. Kanika Aunjit, Deputy Spokesperson for the Office of the Prime Minister, said that the government by Mr. Settha Thavisin, Prime Minister and Minister of Finance and the Ministry of Justice by Pol. Col. Thawee Sodsong, Minister of Justice Be aware of the problems faced by people who are victims of criminal cases. The government has an important policy to bring justice to the people so that they can access the services of various agencies. conveniently, quickly and equally

Ms. Kanika said that in the Department of Rights and Liberties Protection Try to develop and maintain the rights and freedoms of people who are victims and those affected by rights violations who are not the perpetrators. with the goal of being ready to stand beside the innocent and will never stop helping for justice We
are ready to help people who are victims of criminal cases to access justice conveniently, quickly and efficiently. You can contact for assistance at the Justice Hotline, call 1111, press 77, free 24 hours a day.

‘The government doesn’t want to see victims of crime. bad events Those shouldn’t happen. But if it happens, the perpetrator must be punished. or take property or damage can be returned to the victims and victims The Prime Minister therefore has a policy to raise the level of assistance to the people to be more efficient. to administer justice Reduce inequality Create fairness for society,’ Ms. Kanika said.

Source: Thai News Agency