Business News

At LOTTE HOTEL SAIGON, the serene urban oasis swimming pool and the verdant LOTTE Park garden with its murmuring waterfall offer a peaceful and pleasant spot away from the hustle and bustle of city life.

There has been a decline in savings interest rates in recent weeks. From August 23, Agribank continued to reduce deposit interest rates from 0.5 to 0.3 per cent to support individuals and businesses. Since the beginning of the year, Agribank’s deposit interest rate has decreased up to 4.5 per cent.

Vietnam has gained remarkable achievements in economic development thanks to the promotion of international economic integration and active participation in free trade agreements. Doan Van Binh, vice president of the Vietnam Real Estate Association, analyses improving the law on real estate ownership by foreigners in the context of implementing such deals.

New business registration reached a record high of more than 103,000 firms in the first eight months of 2023, according to the Ministry of Planning and Investment (MoPI). The above figure includes more than 14,000 firms established in August, representing a year-on-year increase of 17.9 percent and a month-on-month growth of 14.05 percent.

The monthly statistical data presents current economic and social statistics on a variety of subjects illustrating crucial economic trends and developments, including production of agriculture, forestry and fishery, business registration situation, investment, government revenues and expenditures, trade, prices, transport and tourism and so on.

To be organised by the municipal People’s Committee, the event is expected to draw 400-600 domestic participants, including leaders of the Government, ministry, central agencies and of such localities as Hanoi, Ho Chi Minh City, Hai Phong, Da Nang, and those in the Mekong Delta region.

The outlook for the banking industry this year will not be as bright as previous years due to low credit growth and reducing profit, experts forecast. In a recent report, VPBank Securities Company (VPBankS) forecast that pre-tax profits of the entire banking industry will slow in 2023 with a growth rate of about 10-12 per cent.

The General Department of Taxation (GDT) has said that it guaranteed to reduce and simplify at least 20 per cent of regulations and cut at least 20 per cent of compliance costs related to business activities and eliminate unnecessary regulations by 2025.