Business News

Despite staying out of the list of nine sectors hardest hit by the Fourth Industrial Revolution, the banking industry, typically at the forefront of information technology application, will not stand out of the whirlwind of this Fourth Revolution.

Vietnamese cities and provinces have been rushing to seek licences for large-scale and costly seaports to cash in on growing interest among domestic and international investors and rising trade, triggering concerns over a supply-demand imbalance.

The State Bank of Việt Nam (SBV) has officially extended a policy allowing exporters to take loans in foreign currencies for another year instead of stopping it on December 31 as planned.

Industry insiders have urged the Government to further open up visa policy for foreign tourists to make Vietnam’s hospitality industry more attractive. Vietnam has set a target of welcoming 20 million foreign visitors in 2020 and developing tourism into a key economic sector, and one way of achieving that goal is to provide visa waivers for important markets, the insiders said.

HCM City Real Estate Association has proposed the State Bank of Viet Nam should raise a stimulus package similar to its previous VND30 trillion (US$1.3 billion) preferential home loan package.

A recent survey conducted by Vietnam Report revealed that finance and banking stocks would be the ones to watch out for in 2018 as a number of reputable financial institutions (FIs) schedule to hold their initial public offering (IPO) next year.

The Government has issued two new decrees over the operation mechanism of the State Capital Investment Corporation (SCIC). The decrees prevent the SCIC from investing in companies of relatives but allow it to found subsidiary companies.

Minister of Transport Nguyen Van The has signed a Decision announcing the portfolio of component projects constructing certain segments of the eastern North-South Highway in the 2017-2020 period.