Advertisements HCM City, the country’s commercial hub, has the potential to become a fintech hotspot of the country and region, according to experts. Lâm Nguyễn Hải Long, chairman of the HCM City Computer Association, said: “There are eight reasons HCM City can become the country’s fintech hub. “It is now the driving force of the nationalContinue reading “HCM City has the potential to become a fintech hotspot of Vietnam”
Category Archives: Finance
Stock market edges down in cautious session
Advertisements Vietnam’s benchmark VN-Index fell 2.63 points or 0.27 percent to 963.27 points Thursday, accompanied by a drop in liquidity. On the Ho Chi Minh Stock Exchange, on which the VN-Index is based, 183 stocks lost and 143 gained. Liquidity of order-matched transactions fell to VND3.11 trillion ($134.5 million), from VND3.33 trillion ($144 million) theContinue reading “Stock market edges down in cautious session”
Slump Has Vietnam ETF Look Inexpensive
Advertisements The VanEck Vectors Vietnam ETF has shed 5.13% over the past month, whittling its year-to-date gain to just 6.78% while prompting some market observers to say stocks in the Southeast Asian economy are inexpensive. While some traders may be searching for Vietnamese value, a familiar issue is rearing its head: the lack of depthContinue reading “Slump Has Vietnam ETF Look Inexpensive”
Vietnam’s stocks get cheapest level in a year, but there aren’t many to trade
Advertisements A recent retreat in Vietnamese stocks has brought the market’s valuation back below its five-year average. While that’s the cheapest level in a year, tapping this opportunity is easier said than done. According to a report by Moxy Ying and Nguyen Kieu Giang on Bloomberg, for any investor who’d like to take advantage ofContinue reading “Vietnam’s stocks get cheapest level in a year, but there aren’t many to trade”
UOB Asset Management to acquire VAM Vietnam Fund Management Company
Advertisements UOB Asset Management (UOBAM), the fund management company from Singapore intends to acquire VAM Vietnam Fund Management Company for $4.9m. VAM Vietnam was established in 2006 and primarily invests in public equities. The company also makes investments in convertible debt and other equity‐linked instruments. The Singapore-based fund manager said it will purchase nearly 1.3Continue reading “UOB Asset Management to acquire VAM Vietnam Fund Management Company”
Asia Commercial Bank recognized as Vietnam’s Bank of the Year by The Banker
Advertisements First time ACB recognized as Vietnam’s best this year by leading Financial Times publication, The Banker. Asia Commercial Bank (ACB) has undertaken a wide-ranging scheme to overhaul its internal banking processes to prepare for banking in the future. Primarily, the bank overhauled its operational efficiency through automation. To keep better controls on outstanding customerContinue reading “Asia Commercial Bank recognized as Vietnam’s Bank of the Year by The Banker”
With age, Vietnam’s fintech customers request higher amounts of financing
Advertisements The older customers become, the more financing they request when applying to fintech services. These are the findings of the financial holding Robocash Group based on the statistics of customer applications in Asia this year. In particular, with an increase of customers’ age by one year in Vietnam, there is a rise in theContinue reading “With age, Vietnam’s fintech customers request higher amounts of financing”
Vietnam signs double taxation avoidance pacts with S. Korea
Advertisements South Korea has signed separate pacts with Vietnam and Cambodia to prevent double taxation on offshore income of their nationals or companies doing business in the counterpart country, a move that will ease the tax burden on Korean firms actively expanding presence in the Southeast Asian countries. Pulsenews reports. Korea signed a revised doubleContinue reading “Vietnam signs double taxation avoidance pacts with S. Korea”
Vietnam’s Fintech customers request higher amounts of financing with age
Advertisements The older customers become, the more financing they request when applying to fintech services. These are the findings of the financial holding Robocash Group based on the statistics of customer applications in Asia this year. In particular, with an increase of customers’ age by one year in Vietnam, there is a rise in theContinue reading “Vietnam’s Fintech customers request higher amounts of financing with age”
Vietnam prosperity trails peer rankings
Advertisements Placed 85th among 167 economies in a global prosperity ranking, Vietnam trails most of its Southeast Asian peers. With an overall score of 56.48 points, the country ascended 10 spots over a decade ago, according to Prosperity Index 2019 published by London-based think tank Legatum Institute. The index ranked 167 countries and territories basedContinue reading “Vietnam prosperity trails peer rankings”
Sweden proposed $1bn loan to build Vietnam’s Long Thanh airport
Advertisements Sweden’s Export Credit Corporation (SEK) has offered to loan Vietnam $1bn towards the $4.8bn cost of Long Thanh International Airport’s first phase, on condition that 30% of it is spent on Swedish technology and equipment. The Vietnamese government is considering the offer. Vu Dai Thang, deputy minister of planning told a conference last weekContinue reading “Sweden proposed $1bn loan to build Vietnam’s Long Thanh airport”
Asian Development Bank to have new president
Advertisements Masatsugu Asakawa has been unanimously elected President of the Asian Development Bank (ADB) by its Board of Governors. Asakawa, 61, currently Special Advisor to Japan’s Prime Minister and Minister of Finance, will assume office as ADB’s 10th President on 17 January 2020. He will succeed Takehiko Nakao, who will leave office on 16 JanuaryContinue reading “Asian Development Bank to have new president”
VietinBank JCB Ultimate Vietnam Airlines Credit Card to be launched in Vietnam
Advertisements VietinBank, one of the largest commercial banks in Vietnam, Vietnam Airlines (VNA) and JCB International Co. Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., announced the launch of VietinBank JCB Ultimate Vietnam Airlines Credit Card in Vietnam. This is the highest line of JCB cards for individual customers in Vietnam with aContinue reading “VietinBank JCB Ultimate Vietnam Airlines Credit Card to be launched in Vietnam”
Vietnamese financial technology startups is attracting Southeast Asian venture capital funding
Advertisements Vietnamese financial technology startups are quickly catching up to Singapore in attracting Southeast Asian venture capital funding, with Indonesia rounding out the region’s top three investment destinations. Vietnam’s slice of regional venture capital funding devoted to fintechs soared from just 0.4% in 2018, to 36% in the nine months to the end of September.Continue reading “Vietnamese financial technology startups is attracting Southeast Asian venture capital funding”
The State Bank of Vietnam tightens regulations over banks’ use of short-term deposits
Advertisements The State Bank of Vietnam (SBV) has taken steps to tighten regulations over banks’ use of short-term deposits, reducing its ratio used to finance medium and long term loans from 60 per cent now to 40 per cent by September next year. By the end of September 2021, banks are expected to cut itContinue reading “The State Bank of Vietnam tightens regulations over banks’ use of short-term deposits”