Archive for January 10th, 2019

Large banks concerned about raising capital

10-Jan-2019 Intellasia | VIR | 6:00 AM

State-owned banks are struggling to raise capital to improve their capital adequacy ratio (CAR) in line with Basel II requirements. According to the National Financial [...]
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Interbank payment reaches record high of 73 quadrillion dong

10-Jan-2019 Intellasia | Vietnam Finance | 6:00 AM

“By the end of December 2018, interbank electronic payment turnover was compared with the national payment system with 73 quadrillion dong, 13 times higher than 2018 [...]
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Central Bank saves billions by stopping cash-press at Lunar New Year

10-Jan-2019 Intellasia | VIR | 6:00 AM

The state budget will save hundreds of billions of VND thanks to the State Bank of Vietnam’s (SBV) policy of not issuing fresh banknotes with the value lower than [...]
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Reference exchange rate up 8 VND

10-Jan-2019 Intellasia | VNA | 6:00 AM

The State Bank of Vietnam raised the daily reference exchange rate on January 9 to 22,835 VND/USD, up 8 VND from the previous day. With the current trading band of +/- 3 [...]
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Prudential’s bancassurance deal with VIB proves fruitful

10-Jan-2019 Intellasia | VNS | 6:00 AM

The tie-up between Prudential Vietnam Assurance Private Ltd and Vietnam International Bank has been a successful one, with their bancassurance business experiencing strong [...]
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Growing Korean influence in Vietnamese financial and banking market

10-Jan-2019 Intellasia | VIR | 6:00 AM

South Korean giants are entering the Vietnamese financial and banking market by mergers and acquisitions (M&A) or directly compete with indigenous financial institutions [...]
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Vietcombank to sell 3pct stake to foreign investors

10-Jan-2019 Intellasia | Vnexpress | 6:00 AM

Vietcombank, Vietnam’s largest bank by market cap, has received permission from the securities watchdog to sell a 3 percent stake to foreign investors. The green light [...]
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Tax challenge to continue in New Year

10-Jan-2019 Intellasia | VIR | 6:00 AM

The Law on Cybersecurity entering into force requires cross-border platforms to establish representative offices or branches in Vietnam, but challenges for local tax [...]
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Vietnam’s economy to grow by 6.7-6.9pct in 2019

10-Jan-2019 Intellasia | VNA | 6:00 AM

Vietnam’s economy is forecast to grow by 6.8-6.9 percent in 2019 on the back of sound economic performance in 2018, according to the Vietnam Macro-Economic Outlook [...]
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Hanoi’s exports grow 21.6pct in 2018

10-Jan-2019 Intellasia | VNA | 6:00 AM

Hanoi shipped goods overseas for 14.23 billion USD in 2018, an annual increase of 21.6 percent, reported the municipal Department of Industry and Trade. In December alone, [...]
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VCCI calls for efforts to further cut informal costs for enterprises

10-Jan-2019 Intellasia | The Saigon Times | 6:00 AM

Informal fees, despite having dropped over time, remain a hindrance for enterprises. Therefore, ministries and agencies, especially in the customs sector, should make greater [...]
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Enterprises to self-inspect compliance with labour law

10-Jan-2019 Intellasia | VN Economic Times | 6:00 AM

Circular No. 17/2018/TT-BLDDTBXH from the Ministry of Labour, Invalids and Social Affairs and dated October 17, 2018, which provides guidelines on enterprises self-inspecting [...]
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70pct of firms ask for simplified customs procedures: survey

10-Jan-2019 Intellasia | VNA | 6:00 AM

Up to 70 percent of the 3,000 import-export firms polled nationwide said they want simpler administrative procedures, as reported at a conference in Hanoi on January 8. The [...]
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Trends in VN’s network safety, security

10-Jan-2019 Intellasia | VNS | 6:00 AM

The Authority of Information Security, under Vietnam’s Ministry of Information and Communications, has forecast five major trends in network safety and security to [...]
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CPTPP to raise national GDP by 1.3pct: official

10-Jan-2019 Intellasia | VNA | 6:00 AM

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to help raise Vietnam’s gross domestic product (GDP) by 1.3 percent, [...]
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