Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank)’s annual shareholder meeting on June 30 officially appointed Duong Cong Minh as the new chairman for tenure 2017 – 2021.
Duong Cong Minh is appointed as the Sacombank’s new chairman for tenure 2017–2021. (Photo sacombank)
Hanoi (VNA) - Saigon Thuong TinCommercial Joint Stock Bank (Sacombank)’s annual shareholder meeting on June 30officially appointed Duong Cong Minh as the new chairman fortenure 2017 – 2021.
The lists of six candidates for board of directors and four membersof supervisory board in the new term were absolutely approved by theshareholders.
Duong Cong Minh is currently the president of Him Lam Group and formerchairman of LienVietPostBank.
Minh got the highest vote rate with over 198 percent, replacing Kieu HuuDung, who had only 66.4 percent of vote rate.
The meeting reported results of operations in 2016 with a profit beforetax of 156 billion VND (6.9 million USD), a year-on-year decrease of 82 percent.The non-performing loan ratio at the end of 2016 stood at 6.81 percent of thebank’s total outstanding loans.
According to Sacombank’s financial reports, by December 31, 2016, theaccumulated retained earnings which have not paid dividends toshareholders were 1.014 trillion VND.
As regards business plan for 2017, Sacombank set a total asset target of 384.6trillion VND, a year-on-year increase of 16 percent and a profit before tax of 585billion VND, up 275 percent against 2016.
The bank’s total mobilised capital is planned to reach 356.1 trillion VND, up17 percent compared to 2016.
Sacombank’s board of management also identified key tasks, such asconsolidating the bank’s operations after merger and developing detailed planto effectively implement restructuring plan approved by State Bank of Vietnam.
Besides, Sacombank needs to focus onremediating the existing financial issues, restructuring of assets andliabilities, effectively controlling and preventing overdue debts, solving baddebts and structured debt to quickly recover capital, increasing profitabilityassets in order to improve business efficiency.
Earlier, the central bank has so far asked Sacombank to complete itsmanagement and administrative structure, continue implementing restructuringsolutions to guarantee the rights and benefits of depositors, stabiliseoperations and make sure its financial system is secure.
Many heavyweights have expressed interest in the restructuring of Sacombank,such as New York-based investment bank Evercore Group, M&A consulting firmRedsun Capital Limited and Dang Van Thanh, president of Thanh Thanh Cong Group(TTC) and founder of Sacombank.-VNA
Shares ended June 19 on a positive note as banks reacted to information that the new bad debt settlement resolution will likely be approved by the National Assembly this week.
Shares advanced for a second day on the two national stock exchanges on June 20 as investors increased their bets on bank stocks, given the positive outlook seen for the industry.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Duong Cong Minh is appointed as the Sacombank’s new chairman for tenure 2017–2021. (Photo sacombank) 
