Archive for January 10th, 2019
Large banks concerned about raising capital
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
“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
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
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
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
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
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
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
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
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
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
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
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
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
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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