Card image cap
BANKING / FINANCE / INSURANCE / TAX

STANDARD CHARTERED REVISES UP VIETNAM’S 2018 GROWTH FORECAST TO 7 PERCENT

Manufacturing and construction are likely to remain the fastest-growing sectors. The forecast is highlighted in the bank’s recently published Global Focus report for the third quarter of 2018 entitled “Fattening tail risks”.

Card image cap
BANKING / FINANCE / INSURANCE / TAX

INSURANCE INDUSTRY HITS GROWTH OF 24% IN H1

Việt Nam’s insurance industry achieved high year-on-year growth of 24.35 per cent in the first half of 2018, helping total revenue to reach more than VNĐ58.65 trillion (US$2.55 billion).

Card image cap
BANKING / FINANCE / INSURANCE / TAX

BANKS HIKE INTEREST RATES OF HOME LOANS

Most of the local banks have further tightened credit for the real estate sector by raising the annual interest rates for home loans by one to two percentage points compared with earlier this year, leading the sector to slow down, reported Sai Gon Giai Phong newspaper.

Card image cap
BANKING / FINANCE / INSURANCE / TAX

CREDIT INSTITUTIONS’ FUTURE BRIGHT

A majority of credit institutions in the country expect an upward trend in their business in the remaining months of the year, after making improvements in the first half of 2018, according to a survey released last week by the State Bank of Vietnam.

Card image cap
BANKING / FINANCE / INSURANCE / TAX

TRAFFIC CONGESTION CAUSES IMPORT-EXPORT TAX REVENUE TO DROP

The tax revenue from import-export activities of HCMC in the first half of the year dipped by 4.8% year-on-year to VND50.02 trillion (US$2.2 billion), which is partially attributed to the severe traffic congestion at seaports that causes cargo throughput to fall.

Card image cap
BANKING / FINANCE / INSURANCE / TAX

TAX SECTOR APPROACHING FOURTH INDUSTRIAL REVOLUTION TO ENHANCE NATIONAL COMPETITIVENESS

By carrying out consistent technology solutions, the tax sector is actively approaching the Fourth Industrial Revolution to accelerate administrative reform and enhance national competitiveness.

Card image cap
BANKING / FINANCE / INSURANCE / TAX

BANKS HOPE TO LURE FOREIGN INVESTORS

Despite the current increasing foreign investment inflows, merged and acquired banks will consider selling stakes to foreign investors after completing the restructuring to up the attractiveness of sales, bank officials said.

Card image cap
BANKING / FINANCE / INSURANCE / TAX

MOF AIMS FOR E-FINANCE SYSTEM BY 2025

The Ministry of Finance aims to have financial cloud infrastructure fully operational by 2025. Innovation in mobile devices and cloud technology on a large scale is key to technological application of the fourth industrial revolution, said Minister of Finance Đinh Tiến Dũng.