Business News

Unlike in previous years, credit had risen to a record high of 3.14% in the year to March 23 compared to end-2016, up from 1.79% in the same period last year, according to the central bank.

HCMC - Banks have said credit in the banking system expanded 2.18% in January, much higher than in the same month of previous years. In January last year, credit declined 0.2% compared to December 2015. Credit at the end of the first quarter last year grew 1.54% against late 2015. The credit growth target for this year is about 18%, the same as in 2016.

The State Bank of Viet Nam has issued Circular No.39/2016/TT-NHNN stipulating lending activities of foreign credit organizations and bank branches for customers. Accordingly, lending activities of credit organizations for customers will be launched based on agreements between the credit organizations and customers suitable with the Circular mentioned above and related legal documents, including laws on environmental protection.

Several auto firms have adjusted down prices of completely-built-up (CBU) autos imported from regional markets following an import tax reduction this year in line with a roadmap of the ASEAN Trade in Goods Agreement (ATIGA).

[09-12-2016] The Vietnam Chamber of Commerce and Industry (VCCI) has recently collaborated with the General Department of Vietnam Customs and the General Department of Taxation (under the Ministry of Finance) to organise the Tax and Customs Policy Dialogue Conference with businesses in 2016, drawing over 400 domestic and foreign enterprises.

[01-12-2016] Lending of the banking sector as of November 22 had expanded by around 14 per cent against December last year, with đồng loans rising 15.3 per cent and foreign currency loans increasing 2.8 per cent, State Bank of Việt Nam Deputy Governor Đào Minh Tú reported.

[28-11-2016] The online tax refund pilot project would be implemented in 13 municipal taxation departments this year and expanded next year. The project is aimed at reducing negative phenomena in the refund of value added tax (VAT). Nguyễn Đại Trí, deputy head of the General Department of Taxation under the Finance Ministry, released the information at a press briefing to introduce some e-tax services in Hà Nội last Friday.

[21-11-2016] Digital banking has assumed crucial importance in the development of Viet Nam’s banking system, Dao Minh Tu, deputy governor of the State Bank of Viet Nam (SBV) stressed at a recent conference. The conference themed “Digital bank - the future of banking?” was held in Ha Noi last week.