Advertisements United Overseas Bank (UOB) has incorporated its fully owned subsidiary in Vietnam, making it the first Singapore bank to open a foreign-owned subsidiary bank in the country. According to a report on Straitstimes, UOB had been operating under a branch licence since July 18, 1995 before incorporating the new subsidiary, United Overseas Bank (Vietnam).Continue reading “UOB to launche subsidiary in Vietnam”
Category Archives: Finance
Vietnam’s publishing industry faces new challenges with Amazon entry
Advertisements In the digital and artificial intelligence era, orthodox publishing groups no longer play the key role in the world’s publishing industry. The role has been transferred to Facebook, Google, Amazon and Apple – Vietnamnet reported They have become big publishers and are extremely dynamic when launching attractive services, according to Claudia Kaiser, deputy chairContinue reading “Vietnam’s publishing industry faces new challenges with Amazon entry”
Ex-leader of VNCB sentenced to 20 years in prison
Advertisements Pham Cong Danh, ex-Chairman of the Board of Directors of the Vietnam Construction Bank (VNCB), has been given a 20-year prison term for “deliberately violating State regulations on economic management, causing severe consequences” at the bank. The People’s Court of Ho Chi Minh City announced the verdict on August 6. Given his 30-year prisonContinue reading “Ex-leader of VNCB sentenced to 20 years in prison”
Forbes announces Vietnam’s most valuable brands in 2018 | Inforgraphic
Advertisements Forbes Vietnam has released its third annual list of the 40 most valuable brands in Vietnam, putting their total value at $8.1 billion. The value is 50 percent up from last year. Dairy giant Vinamilk and military-run telecom firm Viettel remain the top two as they were in the two previous years. Forbes estimates Vinamilk’s brandContinue reading “Forbes announces Vietnam’s most valuable brands in 2018 | Inforgraphic”
No, maybe: industry insiders divided on property bubble
Advertisements Analysts and real estate insiders have been insisting this year that there is no bubble, but some remain skeptical. Reflecting on previous bubbles in 2008 and 2010, Le Hoang Chau, chairman of the Ho Chi Minh City Real Estate Association (HoREA), said a bubble was highly unlikely in the current situation. Recalling the aftermathContinue reading “No, maybe: industry insiders divided on property bubble”
Trade war makes Vietnam a haven
Advertisements The increasing trade friction between the US and China will likely prompt more South Korean and Japanese firms to come to Vietnam and use Vietnam, instead of China, as a key market to produce and export their products to the US. Last week, the Quang Ninh People’s Committee was visited by 72 Japanese businessesContinue reading “Trade war makes Vietnam a haven”
HDBank won the Platinum Award at the US Annual Report Competition
Advertisements The HCM City Development Bank (HDBank) has won the Platinum Award, the highest recognition, at the 2017 Vision Awards Annual Report Competition organised by the League of American Communications Professionals. The bank’s 2017 annual report, highlighting the theme “Set Sail”, got the highest scores in most categories. It scored 30/30 in First Impression, 10/10Continue reading “HDBank won the Platinum Award at the US Annual Report Competition”
The race is on to hire qualified staff for blockchain-based industries
Advertisements Blockchain technology has become more popular and used in many industries, driving up demand for staff. According to Vietnamnet, a report shows that blockchain technology in Vietnam is used in many important business fields, including financial services (83 percent), supply chain (40 percent) and public services (30 percent). Some experts predict that Vietnam willContinue reading “The race is on to hire qualified staff for blockchain-based industries”
VIB to repurchase bad debts from VAMC
Advertisements After a period of actively selling non-performing loans to the Vietnam Asset Management Company (VAMC), Vietnam International Bank (VIB) and local banks are buying back the debts from the VAMC to self-handle. The State Bank of Vietnam and the VAMC have just approved and recognized VIB as one of banks buying VAMC bonds beforeContinue reading “VIB to repurchase bad debts from VAMC”
Growth in the shadow of a trade war
Advertisements The trade tensions between China and the US may not be as harmful as they may sound, at least for countries that are not targeted by the conflict and the punishments imposed within it. VIR’s Trang Nguyen asked economists and bankers to analyse the impact of the trade war on Vietnam and how theContinue reading “Growth in the shadow of a trade war”
VND4.1bn tax arrears bill for man profiting from online business
Advertisements Nguyen Nam Binh, vice head of HCM City Department of Taxation, said on August 1 that they had collected VND4.1bn (USD164,000) in tax arrears and fines from a local man that earned VND41bn from Facebook and Google ads – Dtinews reports. The man is a programmer whose game has been viewed and downloaded onContinue reading “VND4.1bn tax arrears bill for man profiting from online business”
Stocks correct after 4-day rallies
Advertisements Stocks encountered a slight correction after a four-day rising streak today, August 1, though trade remained active. With 126 stocks rising and 169 others sliding, the VN-Index of the Hochiminh Stock Exchange fell 3.62 points, or 0.38%, at 952.77. There were 202 million shares worth VND4.4 trillion changing hands on the southern bourse, downContinue reading “Stocks correct after 4-day rallies”
Vietnam among top 3 regional destinations for Singapore companies: HSBC study
Advertisements Vietnam is among the top three investment destinations in Southeast Asia for Singapore-based companies in the next two years, according to the latest HSBC study. The survey, done by the Singapore Business Federation for HSBC, asked 1036 companies about their interest in overseas expansion. Eighty-six per cent of them are SMEs, defined as thoseContinue reading “Vietnam among top 3 regional destinations for Singapore companies: HSBC study”
Foreign cash keeps flowing into real estate market
Advertisements Foreign investors, mostly from Asia, continue making serious investments in Vietnam’s real estate sector. Japanese Hinokiya and Vietnamese TWG are moving ahead with a plan to set up a joint venture to develop real estate projects in Vietnam after signing a cooperation agreement on June 22. According to TWG’s CEO Le Cao Minh, theContinue reading “Foreign cash keeps flowing into real estate market”
Bad debt ratio drops to 2.18% in five years
Advertisements The non-performing loan (NPL) ratio at Viet Nam’s credit institutions has dropped from 3.61 per cent in 2013 to 2.18 per cent currently, according to the Viet Nam Asset Management Company (VAMC). Deputy governor of the State Bank of Viet Nam (SBV) Nguyen Kim Anh hailed the operation of VAMC over the past five years, sayingContinue reading “Bad debt ratio drops to 2.18% in five years”