Advertisements Many foreign-invested firms have been reporting losses for years even as they expand, but authorities are still struggling to prevent transfer pricing. This has cost the nation dozens of trillions of dong (VND10 trillion = $434 million) in losses every year for many years, Deputy State Auditor General Doan Xuan Tien said at a recent forum.Continue reading “Prevent FDI transfer pricing in Vietnam”
Category Archives: Finance
VIB plans listing on HoSE and profit target of VND 4,500 billion in 2020
Advertisements The Vietnam International Bank (VIB) has just released the Annual General Meeting of Shareholders (AGM) documents in 2020, proposed 2019 profit distribution plan, 2020 business plan and some other key contents to submit to the AGM. List of shareholders was finalized on June 5, 2020. The meeting will be held on June 30, 2020.Continue reading “VIB plans listing on HoSE and profit target of VND 4,500 billion in 2020”
F88 raises $6m from Mekong Capital and Granite Oak to expand its network
Advertisements Vietnam-based consumer lending firm F88 has raised about 140 billion dong ($6 million) from existing investors Mekong Capital and Granite Oak to reach a valuation of 2.1 trillion dong ($91 million). The follow-on capital injection will help F88, which operates 180 stores currently, expand its branch network, said the company’s chairman and CEO PhungContinue reading “F88 raises $6m from Mekong Capital and Granite Oak to expand its network”
Vietnamese shoppers favour cashless payments
Advertisements Transactions via mobile devices recorded a year-on-year surge of 198% in volume and 210% in value last year. Vietnamese shoppers prefer using cashless payment as e-payments via internet in 2019 jumped 64% in number of transactions and 37% in value compared to 2018, according to the latest report from the State Bank of VietnamContinue reading “Vietnamese shoppers favour cashless payments”
State Bank to simplify lending procedures
Advertisements The State Bank of Việt Nam will consider simplifying lending procedures to help COVID-19-affected firms easily access preferential interest rate loans, SBV Deputy Governor Đào Minh Tú said. Speaking at a seminar last week, Lý Kim Chi, chairwoman of the HCM City Food and Foodstuffs Association, said enterprises need better access to new loans, payment term extensi andContinue reading “State Bank to simplify lending procedures”
5G will boost financial inclusion in emerging markets in APAC
Advertisements Driving improvements in the digital space, 5G has accelerated financial inclusion in emerging markets in Asia. Analysts of the financial holding. Robocash Group forecast that with its help, about 3 million of the unbanked and underbanked will get access to financial services in both Vietnam and the Philippines by 2025. Indonesia will have 9-11Continue reading “5G will boost financial inclusion in emerging markets in APAC”
There is always a bright side as Vietnam’s fintech boosting by COVID-19
Advertisements As a promising digital economy, Vietnam has facilitated fintech development to penetrate deeper and faster into the world’s digital economy, especially in the post-COVID-19 period. Southeast Asia is considered a great potential market for online payments, of which, Vietnam is forecast to be the third largest internet economy in the region, after Indonesia andContinue reading “There is always a bright side as Vietnam’s fintech boosting by COVID-19”
Not just good at containing coronavirus outbreak, Vietnam becomes Asia’s best stock market performer in May
Advertisements Vietnam has managed to repeat its success of containing a virus outbreak again, and that’s helped drive the nation’s stock market to become Asia’s top performer this month. The benchmark stock index has rallied 13% in May, driven mainly by local investors as foreign funds pull money out from risk assets. The local currencyContinue reading “Not just good at containing coronavirus outbreak, Vietnam becomes Asia’s best stock market performer in May”
HCMC plans to build a new hi-tech industrial park in Binh Chanh
Advertisements HCM City Department of Planning and Architecture is planning to build a new hi-tech industrial park that covers 380ha in Binh Chanh District. HCM City People’s Committee asked the department to review the current industrial and processing zones and find suitable lands to attract investments to the city and build the new hi-tech industrialContinue reading “HCMC plans to build a new hi-tech industrial park in Binh Chanh”
Airline stocks. Set to soar or a crash investigation site?
Advertisements Vietnam is still managing to keep a firm grip on the C-19 virus overall and I am sure, proud that it hasn’t logged any domestic infections since April 17. With all C-19 patients confirmed after this date arriving as imported cases and all through air travel. The most unfortunate recent case being 31 peopleContinue reading “Airline stocks. Set to soar or a crash investigation site?”
Vietnam government proposes postpone basis salary increase this year
Advertisements If the basis salary increases in accordance with the roadmap, the Vietnamese government is expected to spend an additional VND60 trillion (US$2.58 billion) to pay wages. Prime Minister Nguyen Xuan Phuc on Wednesday put forth the postponement of a regular basis salary increase for wage earners in the public sector this year in orderContinue reading “Vietnam government proposes postpone basis salary increase this year”
Is Vietnam’s Hesitance to Embrace Crypto Exchanges Hampering Economic Growth?
Advertisements Blockchain and cryptocurrency have become an increasingly common part of our lives in 2020. Even if you don’t use cryptocurrency or blockchain platforms, you have most definitely heard of them. Naturally, countries around the world are starting to embrace these innovations and are creating legal frameworks that support the adoption and development of their respective markets. Exchanges,Continue reading “Is Vietnam’s Hesitance to Embrace Crypto Exchanges Hampering Economic Growth?”
Chinese people exploit legal loopholes to acquire land in Vietnam: defense ministry
Advertisements Chinese people are using more than 162,000 hectares of land in Vietnam by exploiting legal loopholes to establish joint ventures and pumping money for Chinese-Vietnamese citizens to acquire land in the Southeast Asian country, according to the Ministry of National Defense. About 6,300 out of 162,000 hectares are land plots located in border andContinue reading “Chinese people exploit legal loopholes to acquire land in Vietnam: defense ministry”
Vietnamese economy shows signals of recovery
Advertisements The Vietnamese economy has showed signals of recovery, with confidence of enterprises bouncing back, laying a firm foundation for the government to maintain the top economic growth rate in the region. Prime Minister Nguyen Xuan Phuc has stated that the economy has been gradually witnessing activities return to normal, with enterprises’ confidence beginning toContinue reading “Vietnamese economy shows signals of recovery”
Gold prices rise to levels nine-year high
Advertisements Gold prices breached the VND49 million ($2,100) mark for the second time this year and rose to levels not seen since August 2011. On Monday morning the country’s largest jewelry company, DOJI, sold its SJC gold at VND49.05 million ($2,103), up 0.8 percent from the weekend. Saigon Jewelry Company Ltd sold at VND49.15 ($2,107), alsoContinue reading “Gold prices rise to levels nine-year high”