Advertisements State Securities Commission (SSC) of Vietnam has recently issued Decision No.89/QD-UBCK dated February 11, 2020 approving the transaction of Hung Viet Fund Management JSC’s shares. Accordingly, all shareholders of Hung Viet Fund Management JSC transferred altogether 2.5 million shares, equivalent to 100 per cent of its charter capital, to Korea Investment Management Co., Ltd.Continue reading “Korea Investment firm acquires Vietnam’s Fund management company”
Category Archives: Finance
Vietnam’s exports plunged as the global coronavirus outbreak
Advertisements Vietnam’s exports plunged in January, with shipments to the U.S. falling 7.3%, as the global coronavirus outbreak hindered trade activities, according to data released from the Hanoi-based General Department of Vietnam Customs. Bloomberg reports. Exports slumped 17.4% in January from the same time last year Imports dropped 13.7% in January from a year ago,Continue reading “Vietnam’s exports plunged as the global coronavirus outbreak”
Vietnamese borrow more often for New Year celebrations
Advertisements With the end of celebrations of the Lunar New Year, the fintech holding Robocash Group reveals insights at some borrowing patterns of fintech customers during the festive season in the Philippines, Indonesia and Vietnam. In particular, 64% of respondents in Vietnam said that they already borrowed funds to celebrate Tet Holiday in the past.Continue reading “Vietnamese borrow more often for New Year celebrations”
Vietnam’s Central bank removes foreign ownership limit in payment firms
Advertisements The State Bank of Vietnam (SBV) has announced it would remove regulations limiting foreign ownership in local intermediary payment firms from its draft Decree No 101. November last year, the SBV announced the draft decree on the management of non-cash payments and set a foreign ownership limit of 49 percent in intermediary payment firms.Continue reading “Vietnam’s Central bank removes foreign ownership limit in payment firms”
Trade origin fraud in Vietnam remains a problem
Advertisements Vietnam is facing more lawsuits over evasion of trade remedies, posing concern for exporters. To “fight” origin fraud and avoid more lawsuits, businesses are determined to play a key role. Steel sued the most According to the Ministry of Industry and Trade, by December 2019, there have been 20 cases of anti-tax evasion initiatedContinue reading “Trade origin fraud in Vietnam remains a problem”
The Roaring Twenties Are Back Again?
Advertisements Let us hope without a repeat of the 1929 great depression, although that would be 9 years away. So what can we expect going into 2020 and the next decade? A recent study conducted by Schroders can throw a fair amount of light on this. It showed that people lack confidence in exactly howContinue reading “The Roaring Twenties Are Back Again?”
Foreign banks to boost consumer finance loans in Vietnam
Advertisements Foreign banks have decided to boost consumer finance loans as the business segment is forecast to maintain double digit growth this year. With competitive advantages in interest rates, foreign banks in Vietnam are boosting consumer loans as the business segment is forecast to keep rising and bring greater growth opportunities for lenders this year.Continue reading “Foreign banks to boost consumer finance loans in Vietnam”
Vietnam to issue stricter corporate bond regulations
Advertisements The Ministry of Finance plans to make regulations for corporate bond issuances more stringent, including the ratio to the issuer’s equity, to protect investors. There is a rising trend of businesses shifting from bank credit to private placement of bonds, with the issuances often worth several times their equity, the ministry said in itsContinue reading “Vietnam to issue stricter corporate bond regulations”
5 Best Digital Transformation Consultancy Companies in Vietnam
With the growth in technology and the fact that the market in Vietnam is very hot and dynamic today, businesses need to upscale their functionality as well as their service delivery if they want to survive and thrive in that particular market
Vietnam banks offer assistance to businesses affected by coronavirus
Advertisements In response to the State Bank of Vietnam’s appeal, a number of credit institutions have announced plans to support businesses affected by the novel coronavirus epidemic. HDBank has offered low-interest loans and waived fees on international payments for businesses that supply drugs and medical equipment. It has also cut their transaction fees for domesticContinue reading “Vietnam banks offer assistance to businesses affected by coronavirus”
Reference exchange rate increased 10 VND at week’s beginning
Advertisements The State Bank of Vietnam set the daily reference exchange rate at 23,211 VND/USD on February 10, up 10 VND from the last working day of previous week (February 7). With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,907 VND/USD and the floorContinue reading “Reference exchange rate increased 10 VND at week’s beginning”
Citibank, ING to arrange funds for Vietnam’s LNG-fired power units
Advertisements (Reuters) – PetroVietnam Power Corp has signed a deal to allow a consortium of Citibank and ING Bank [INGBK.UL] to arrange funds for its project to expand a gas-fired power complex in southern Vietnam with two new units, the company said. According to a report on Reuters, the funds will be used for theContinue reading “Citibank, ING to arrange funds for Vietnam’s LNG-fired power units”
Vietnam banks recorded the highest increase in brand value at 146%
Advertisements With five new banks included in this year’s Brand Finance Banking 500, the total number of Vietnamese banks in the global top 500 banks in brand value hits nine. Vietnam banks recorded the highest increase in brand value, at 146%, according to Brand Finance’s latest Banking 500 report. Notably, Vietcombank climbed by 99% year-on-yearContinue reading “Vietnam banks recorded the highest increase in brand value at 146%”
Every fourth individual in Vietnam took the first loan at a non-bank lending company
Advertisements According to a recent customer survey by the fintech holding Robocash Group, microfinance institutions (MFI), as well as non-bank financial companies (NBFC) are the first credit providers for almost every fourth individual in Vietnam (25%). Although banks in Asia preserve their position as the primary source of credit, alternative lending has taken a significantContinue reading “Every fourth individual in Vietnam took the first loan at a non-bank lending company”
Blue chips lead stock market surge, cash flow returned strongly
Advertisements The VN-Index surged 12.63 points, or 1.36 percent, to 938.54 points Thursday, with several blue chips nearing their price ceilings. Cash flow returned strongly to the stock market with order-matched transactions on the Ho Chi Minh Stock Exchange (HoSE) rising sharply to VND3.75 trillion ($161.16 million) from VND2.97 trillion ($127.64 million) from the previousContinue reading “Blue chips lead stock market surge, cash flow returned strongly”