Vietnamese stock market continues strong upward trend

Vietnamese stock market continues strong upward trend

The stock market in Vietnam has begun an upward trend since mid-December 2023 and has experienced almost no interruptions so far, gaining over 130 points, approximately 12%.
Slower credit growth makes banks set modest targets in 2024

Slower credit growth makes banks set modest targets in 2024

Slower than expected credit growth and a large number of non-performing loans have resulted in conservative growth targets among commercial banks for 2024, said industry insiders and experts.
Asia - biggest source of overseas remittances to HCM City in 2023

Asia - biggest source of overseas remittances to HCM City in 2023

Money sent from Asian countries made up 50.5% of the total overseas remittances to Ho Chi Minh City last year, Vietnam’s largest economic hub, a massive 143.8% spike year-on-year, according to the State Bank of Vietnam (SBV)’s branch in the city.
Bad debt recovery faces many challenges in 2024

Bad debt recovery faces many challenges in 2024

The settlement of bad debts will face many difficulties this year as there are no legal regulations related to repossessing collateral assets, industry insiders said.
Australian credit institution supplies funds for Vietnam petroleum firm

Australian credit institution supplies funds for Vietnam petroleum firm

Acuity Funding of Australia will provide finances for eight projects of the Nam Song Hau Trading Investing Petroleum Joint Stock Company (NSH Petro), based in the Mekong Delta province of Hau Giang.
PM urges efforts to upgrade stock market to emerging status

PM urges efforts to upgrade stock market to emerging status

Prime Minister Pham Minh Chinh requested action be boosted to upgrade Vietnam’s stock market from the frontier status to the emerging one in 2025, while chairing a conference in Hanoi on February 28.
Online payment – race of new technologies

Online payment – race of new technologies

The Government’s policy of promoting cashless payment has triggered the spread of online payments in Vietnam as well as the race of new technologies, contributing to boosting the digital economy.
Record-low interest rates drive early-year credit growth

Record-low interest rates drive early-year credit growth

Since the beginning of the year, numerous banks have launched attractive credit packages with low interest rates, some even as low as 0% per year, easing the financial burden for customers seeking additional capital, particularly during the time leading up to Tet (Lunar New Year holiday).
Banks move to foster cashless payment ahead of Tet

Banks move to foster cashless payment ahead of Tet

As the traditional Lunar New Year (Tet) festival is just around the corner, commercial banks are offering a wide range of promotional programmes and financial solutions to encourage cashless payment during the peak shopping season.
Credit boosted right from beginning of year

Credit boosted right from beginning of year

(VEN) - The State Bank of Vietnam (SBV) assignment of credit growth target to commercial banks right from the beginning of the year 2024 helps credit institutions be more proactive in their business and simplify lending procedures.
Standard Chartered celebrates the 120th anniversary of its presence in Vietnam

Standard Chartered celebrates the 120th anniversary of its presence in Vietnam

This year, Standard Chartered Vietnam celebrates the 120th anniversary of its presence in Vietnam, reaffirming its unwavering commitment to the country.
Credit offers on the rise nearing Tet

Credit offers on the rise nearing Tet

High demand during the Tet shopping season has prompted commercial banks to introduce credit offers worth hundreds of billions VND for consumers, said industry experts and insiders.
Credit contracts worth over 15.6 trillion VND signed to implement 500kV transmission line

Credit contracts worth over 15.6 trillion VND signed to implement 500kV transmission line

The National Power Transmission Corporation (EVNNPT) on January 26 signed credit contracts worth over 15.6 trillion VND (634 million USD) with five banks to implement projects to build the 500kV circuit 3 transmission line section from Quang Trach to Pho Noi.
Remittances to Ho Chi Minh City reach nearly 9.5 billion USD in 2023

Remittances to Ho Chi Minh City reach nearly 9.5 billion USD in 2023

The overseas remittances sent to Ho Chi Minh City hit 9.46 billion USD in 2023, up 43.3% compared to 2022, while the earlier estimate was 8.9 billion USD.
SBV announces 15-percent credit growth limit

SBV announces 15-percent credit growth limit

(VEN) - The State Bank of Vietnam (SBV) has announced the 15-percent credit growth limit for commercial banks in the country in 2024.
Major banks continue cutting deposit interest rates

Major banks continue cutting deposit interest rates

Deposit interest rates at four major banks of Vietnam were adjusted sharply, down by 0.4% per year from the previous listings, bringing the rate to 1.8% per year at the lowest.
Outstanding credit forecast to grow 14.2% this year

Outstanding credit forecast to grow 14.2% this year

Outstanding credit of the banking system is forecast to increase 4.4% in the first quarter and 14.2% in 2024, up 0.4 percentage point from the previous prediction of 13.8%.
Big four banks represent 41.9 percent of total credit, 50 percent of total deposits

Big four banks represent 41.9 percent of total credit, 50 percent of total deposits

Vietnam’s four largest commercial banks - Vietcombank, BIDV, Agribank and VietinBank (the Big 4) - in 2023 accounted for 41.9% of total outstanding loans and about 50% of the total deposits of the country's banking system.
Central bank to conduct unscheduled inspections of credit institutions

Central bank to conduct unscheduled inspections of credit institutions

The State Bank of Vietnam's (SBV) competent authorities can conduct unscheduled inspections of credit institutions to ensure their compliance with monetary and banking legal regulations from next month, according to a newly issued circular.
No interest rate hike in 2024: central bank

No interest rate hike in 2024: central bank

The State Bank of Vietnam (SBV) will not consider increasing policy interest rates and might extend debt rescheduling policies to support enterprises this year, said SBV Deputy Governor Dao Minh Tu said at a press conference on January 3.
Banks need to unlock credit for businesses: PM

Banks need to unlock credit for businesses: PM

(VEN) - Prime Minister Pham Minh Chinh proposed at a Hanoi-based December-7 national conference on unlocking capital sources for businesses that the State Bank of Vietnam (SBV) strictly punish banks that make it more difficult for organizations and individuals to access credit through applying illegal additional lending conditions.
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Resolution on special mechanisms, policies for Da Nang development to be submitted to NA

Resolution on special mechanisms, policies for Da Nang development to be submitted to NA

The Government on May 21 issued Resolution No. 74/NQ-CP on the drafting of a National Assembly (NA) resolution on the urban administration organisation and the piloting of special mechanisms and policies for the development of the central city of Da Nang.
Creative, flexible solutions significant to complete financial-budget tasks: Minister

Creative, flexible solutions significant to complete financial-budget tasks: Minister

The completion of financial-budget tasks requires strong, creative and flexible efforts as well as high determination not only from the financial sector but all sectors, localities and especially people and businesses, stated Minister of Finance Ho Duc Phoc.
Vietnam IT association makes debut in Japan

Vietnam IT association makes debut in Japan

The Vietnam Information Technology Association in Kyushu (VITAK) made its debut at a ceremony at the Vietnamese Consulate General's headquarters in Fukuoka, Japan, on May 20.
Promoting Vietnamese pharmaceutical industry

Promoting Vietnamese pharmaceutical industry

HÀ NỘI — The Vietnamese pharmaceutical industry is seeing great advantages.
FTAs to be leveraged for rice exports

FTAs to be leveraged for rice exports

(VEN) - Although they have obtained encouraging achievements, Vietnamese rice exporters are facing numerous challenges and need to efficiently leverage opportunities brought in by free trade agreements (FTAs) for export and branding development.
basket brocade weaving of stieng people recognised as national intangible cultural heritage

Basket, brocade weaving of S’tiêng people recognised as National Intangible Cultural Heritage

Basket weaving and brocade weaving of the S’tiêng people has been included in the National Intangible Cultural Heritage list by the Ministry of Culture, Sports, and Tourism in 2023 and 2024.
viet nam a top destination for indian tourists indian publication

Việt Nam a top destination for Indian tourists Indian publication

Outbound travel from India has seen a significant spike, with Việt Nam emerging as a favoured international destination, according to Mint, a New Delhi-based business publication.
royal antiques presented at metaverse exhibition

Royal antiques presented at metaverse exhibition

Ten significant antique objects from the Nguyễn Dynasty (1802–1945), the last Vietnamese dynasty have been digitally identified to be presented in 360-degree vision and full sharpness.
lighting the skies of hoi an memories park with a stunning new drone light show

Lighting the skies of Hội An Memories Park with a stunning new drone light show

The drone show, Light to Sky Festival, will launch three months of special performances and events in the Hội An Memories Land, tracing the most beautiful images of the ancient town into the skies.
vietnamese pho leaves impression at czech cook show

Vietnamese Phở leaves impression at Czech cook show

Phở, a Vietnamese traditional noodle soup, left an impression among diners at ASEAN Cook Show 2024, which was hosted by the ASEAN Committee in Prague (ACP) on May 16.
Government proposes putting land laws into effect six months earlier

Government proposes putting land laws into effect six months earlier

HÀ NỘI — New land laws in Việt Nam could take effect six months earlier than proposed, after the Vietnamese Government resolved on May 17 to propose that the National Assembly put the Law on Land, the Law on Housing and the Law on Real Estate Business into force from July 1 instead of January 1, 2025.
New resolution facilitates entrepreneurship development

New resolution facilitates entrepreneurship development

(VEN) - Under the Government’s action program to implement the Politburo’s Resolution 41 dated October 10, 2023 on building and developing local entrepreneurs in the new era, by 2030, the business sector will have contributed 65-70 percent to Vietnam’s gross domestic product (GDP), created jobs for 32-38 percent of the country’s workforce, and accounted for 98-99 percent of the country’s total export value.
Proposal to amend personal income tax law set for October next year

Proposal to amend personal income tax law set for October next year

HÀ NỘI — The Personal Income Tax Law will be revised in 2025, following the proposed timeline submitted to the Government and reported to the National Assembly (NA) Standing Committee.
Tax, land rent payment deadlines to be extended this year

Tax, land rent payment deadlines to be extended this year

HÀ NỘI — Payment deadlines for value added tax (VAT), corporate income tax, personal income tax, and land rent in 2024 are set to be extended, involving a total tax value of nearly VNĐ84 trillion (US$3.3 billion).
Promoting Vietnamese pharmaceutical industry

Promoting Vietnamese pharmaceutical industry

HÀ NỘI — The Vietnamese pharmaceutical industry is seeing great advantages.
Key energy project development needs to accelerate for enough power supply

Key energy project development needs to accelerate for enough power supply

HÀ NỘI — Experts believe that accelerating the development progress of projects in the energy sector can ensure electricity supply in both the short and long terms.
Tra Vinh moves ahead with advanced manufacturing projects

Tra Vinh moves ahead with advanced manufacturing projects

(VEN) - Recently, the Tra Vinh Industry and Trade Promotion Center of Tra Vinh Province organized the acceptance and handover ceremony for the project “Application of advanced machinery and equipment in fine art wood production.”
MoIT seeks to address material bottleneck

MoIT seeks to address material bottleneck

(VEN) - A delegation of the Ministry of Industry and Trade (MoIT) led by Minister Nguyen Hong Dien recently worked with the Vietnam Leather, Footwear and Handbag Association (Lefaso) on problems related to the supplies of materials and accessories in the leather and footwear industry.
Binh Duong attracts nearly 4,300 FDI projects so far

Binh Duong attracts nearly 4,300 FDI projects so far

As of May 2024, the southern province of Binh Duong has attracted nearly 4,300 projects with a total investment capital of nearly 40.6 billion USD from 65 countries and territories, ranking third in the country after Ho Chi Minh City and Hanoi.
Dong Nai remains magnet for foreign investors

Dong Nai remains magnet for foreign investors

Industrial parks in the southern province of Dong Nai continued to see a strong influx of foreign direct investment (FDI) in the first months of this year, which has surpassed the yearly target by nearly 20%.
Delegation from EU, Netherlands explore investment opportunities in Thai Nguyen

Delegation from EU, Netherlands explore investment opportunities in Thai Nguyen

A delegation from the European Union (EU), the Netherlands, and the Vietnamese Embassy in Singapore held a working session with leaders of the northern province of Thai Nguyen on May 16 to explore potential investment opportunities in the province.
Desk established in Dong Nai to support Japanese investors

Desk established in Dong Nai to support Japanese investors

Dong Nai province, an industrial hub in the southern region, has set up the Japan Desk at the headquarters of the Dong Nai Industrial Zones Authority to assist Japanese investors operating here.
Creative, flexible solutions significant to complete financial-budget tasks: Minister

Creative, flexible solutions significant to complete financial-budget tasks: Minister

The completion of financial-budget tasks requires strong, creative and flexible efforts as well as high determination not only from the financial sector but all sectors, localities and especially people and businesses, stated Minister of Finance Ho Duc Phoc.
Standard Chartered Bank wins multiple awards at The Asset Triple A Treasurise Awards 2024

Standard Chartered Bank wins multiple awards at The Asset Triple A Treasurise Awards 2024

Standard Chartered Bank has been named Best Service Provider for Cash Management in Vietnam, Best Payments and Collections Solution for Generali Vietnam, Best Supply Chain Solution for Kuehne + Nagel Co. Ltd, and Best ESG Solution for BIDV at the Asset Triple A Treasurise Awards 2024.
Central bank to inspect gold trading activities

Central bank to inspect gold trading activities

The State Bank of Vietnam (SBV) on May 17 issued a decision to inspect the compliance with policies and laws in gold trading activities of credit institutions and gold trading enterprises.
Banks raise interest rates to attract depositors

Banks raise interest rates to attract depositors

Many banks have adjusted up savings interest rates by 0.2-0.3 percentage point per year since early this months to lure depositors in the context that the savings amount at the banking system has declined for the first time after 25 consecutive month increase.
Making e-commerce go green

Making e-commerce go green

(VEN) - Vietnam’s express delivery industry has recorded a rapid growth in recent years and has great potential to become an important driving force in promoting the growth of the national economy. However, how to minimize the adverse impact on the environment caused by large-scale packaging and transportation in e-commerce is posing a challenge now.
Energy transition to help aviation sector realise net zero emission goals

Energy transition to help aviation sector realise net zero emission goals

Vietnamese airlines have worked hard to implement the net zero emission targets by using new generation aircraft in their operation, which are more environmentally friendly thanks to advanced technologies.
First provincial biodiversity museum launched in Quảng Nam

First provincial biodiversity museum launched in Quảng Nam

QUẢNG NAM — The first-ever provincial-level biodiversity museum was launched in the central province of Quảng Nam on Wednesday, introducing more than 3,700 photos and 1,200 specimens of flora and fauna found in the locality.
Enhancing informal sector’s role in EPR implementation

Enhancing informal sector’s role in EPR implementation

(VEN) - The informal labor force plays a crucial role in the waste value chain, helping producers and exporters achieve recycling rates through the EPR mechanism.
Vietnam IT association makes debut in Japan

Vietnam IT association makes debut in Japan

The Vietnam Information Technology Association in Kyushu (VITAK) made its debut at a ceremony at the Vietnamese Consulate General's headquarters in Fukuoka, Japan, on May 20.
Vietnam eyes to boost science, technology cooperation with Brazil

Vietnam eyes to boost science, technology cooperation with Brazil

Ambassador of Vietnam to Brazil Bui Van Nghi has emphasised that cooperation in science and technology is one of the priority areas between the two countries, especially in telecommunications, high technology, semiconductors, artificial intelligence (AI), big data, quantum science, aerospace, and aviation.
PM urges training of semiconductor workforce

PM urges training of semiconductor workforce

(VEN) - At a recent conference on developing human resources to serve the semiconductor industry in Hanoi, Prime Minister Pham Minh Chinh said the semiconductor workforce should be considered a breakthrough in high-quality personnel training.
Semiconductor investment prioritized

Semiconductor investment prioritized

(VEN) - Vietnam has recently completed the legal corridor to create conditions prioritizing investment and development of semiconductor chips.
EC reschedules fifth IUU fishing inspection in Vietnam

EC reschedules fifth IUU fishing inspection in Vietnam

The European Commission (EC) has rescheduled an inspection on illegal, unreported, and unregulated (IUU) fishing in Vietnam from May to this upcoming autumn, according to Director of the Fisheries Resources Surveillance Department Nguyen Quang Hung.
SCG provides career opportunities for children with disabilities

SCG provides career opportunities for children with disabilities

SCG continues its collaboration with the Ba Ria-Vung Tau School for Children with Disabilities through the ‘My Career Dream’ (Em và ước mơ nghề nghiệp) initiative, in celebration of International Children's Day 2024.
Noi Bai Airport

Noi Bai Airport's international terminal expanded

The bidding package on the construction, supply and installation of equipment for the expansion of the T2 terminal of the Hanoi-based Noi Bai International Airport kicked off on May 19, with Prime Minister Pham Minh Chinh attending.
Government tightens vessel control to fight IUU fishing

Government tightens vessel control to fight IUU fishing

The Government has ordered harsh punishments on any violation of vessel-monitoring-system (VMS) rules in a move to get the European Commission (EC)’s “yellow card” against the Vietnamese seafood products for illegal, unreported and unregulated (IUU) fishing lifted.
Vietnamese products impress visitors to Foodservice Australia 2024

Vietnamese products impress visitors to Foodservice Australia 2024

Vietnamese products were showcased at Foodservice Australia 2024 – the leading food industry event held in Sydney from May 19-21.
Viettel Global ranks third in market capitalisation

Viettel Global ranks third in market capitalisation

The market value of Viettel has more than tripled in just three months.
Branding essential for leverage of FTA opportunities

Branding essential for leverage of FTA opportunities

(VEN) - Despite Vietnam’s impressive export growth rate to FTA markets, the market share of Vietnamese goods in those countries remains very modest. One of the reasons for that is most export products have not built their own brands.
Vietnamese agricultural products to take part in Foodservice Australia 2024

Vietnamese agricultural products to take part in Foodservice Australia 2024

Brands are looking to increase their presence in the country and to further integrate with local distribution channels.
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Vietnamese Phở leaves impression at Czech cook show

Vietnamese Phở leaves impression at Czech cook show

Phở, a Vietnamese traditional noodle soup, left an impression among diners at ASEAN Cook Show 2024, which was hosted by the ASEAN Committee in Prague (ACP) on May 16.
International press praises Vietnamese Bun Rieu

International press praises Vietnamese Bun Rieu

(VEN) - The Sydney Morning Herald of Australia recently praised Vietnamese Bun Rieu (crab noodle soup), saying the traditional Vietnamese dish which originates from the Red River Delta has gradually become widely known domestically and internationally.
Basket, brocade weaving of S’tiêng people recognised as National Intangible Cultural Heritage

Basket, brocade weaving of S’tiêng people recognised as National Intangible Cultural Heritage

Basket weaving and brocade weaving of the S’tiêng people has been included in the National Intangible Cultural Heritage list by the Ministry of Culture, Sports, and Tourism in 2023 and 2024.
Royal antiques presented at metaverse exhibition

Royal antiques presented at metaverse exhibition

Ten significant antique objects from the Nguyễn Dynasty (1802–1945), the last Vietnamese dynasty have been digitally identified to be presented in 360-degree vision and full sharpness.
Floating lake found in Phong Nha - Ke Bang National Park

Floating lake found in Phong Nha - Ke Bang National Park

(VEN) - During an expedition by the Junglee Boss adventure tourism company, a mysterious lake has been discovered in Thung Cave within the World’s Natural Heritage of Phong Nha - Ke Bang National Park, in the central province of Quang Binh.
Việt Nam a top destination for Indian tourists Indian publication

Việt Nam a top destination for Indian tourists Indian publication

Outbound travel from India has seen a significant spike, with Việt Nam emerging as a favoured international destination, according to Mint, a New Delhi-based business publication.
Thanh Hoa tourism experiences great changes

Thanh Hoa tourism experiences great changes

(VEN) - During the Reunification Day and May Day holidays this year, Thanh Hoa Province was the locality that welcomed the largest number of visitors in the country with over 1.5 million visitors, and the total tourism revenue of the province during this time reached more than VND3.8 trillion.
Lighting the skies of Hội An Memories Park with a stunning new drone light show

Lighting the skies of Hội An Memories Park with a stunning new drone light show

The drone show, Light to Sky Festival, will launch three months of special performances and events in the Hội An Memories Land, tracing the most beautiful images of the ancient town into the skies.
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