Business News

The Vietnam Banks Association has proposed a 2 per cent VAT reduction for the entire banking sector, which is currently excluded from the list of sectors entitled to the tax cut. Nguyen Quoc Hung, vice president and secretary general of the association (VNBA), emphasised the prevailing challenges encountered by enterprises, especially with resource depletion.

The Vietnam Association of Realtors (VARS) has proposed allowing foreigners to purchase and own houses, including private houses and apartments, in Vietnam during the time they work in the country. VARS said it is necessary to specify the minimum remaining working time at the time of purchase, and supplement conditions when foreigners purchase a certain number of properties, to prevent speculation.

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.

1. Eighty-two companies delay bond repayments in H1
2. Cashless payment promoted in remote areas
3. Credit growth unlikely to soar towards the end of the year
4. Outlooks lowered as weaker trade hampers 2023 growth
5. Hanoi's seven-month CPI rises almost 1pct
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1. Banking sector assigned tasks for H2
2. Cash shifts to stock market amid lower interest rates
3. VIB's profit up 12pct, ROE stands at 29pct in H1
4. Wheels set in motion for JETP plan
5. Tax Authorities Refund over $2.6 billion to Businesses in H1
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The national consumer price index (CPI) in July grew by 0.45 per cent month-on-month, fueled by higher prices of food, foodstuff and electricity, the General Statistics Office (GSO) said on last week. This figure represents an increase of 2.06 per cent compared to the same period last year. The July core inflation increased 0.36 per cent from last month and 4.11 per cent from the same period last year.

The policy of renewing the e-visa with its duration to 90 days for tourists coming to Vietnam is gradually approaching its effective date of August 15, 2023, attracting the attention of the tourism industry both at home and abroad.

Despite the US Federal Reserve raising interest rates by a quarter of a percentage point last week, domestic interest rates continue to decline. As of July 19, the interbank interest rate was 0.39 per cent for the overnight term, reminiscent of rates seen at the outset of the COVID-19 pandemic.