VIETNAM ISSUES E-VISA TO NATIONALS OF 35 MORE COUNTRIES
With the changes to the visa policies, the tourism industry hopes to get 17-20 million foreign visitors by 2020 and revenues of $35 billion a year, contributing 10 percent to the country’s GDP compared to 7.5 percent last year.
HAI PHONG TO BUILD 5-6 INDUSTRIAL PARKS
The northern city of Hai Phong houses 13 industrial parks with 449 projects and intends to build additional five to six others in the coming years. Head of the Hai Phong Economic Zone Management Board Pham Van Moi reported that the city will build five to six industrial parks in the coming time.
DEVELOPMENT TRENDS THAT WILL SHAPE PROPERTY MARKET IN 2019
The real estate market remains strong in 2019 since the economy continues to grow robustly and there is a lot of investment flowing into infrastructure, thus attracting both domestic and foreign investors.
CIRCULAR ON RATING CREDIT INSTITUTIONS, FOREIGN BANK BRANCHES ISSUED
The State Bank of Viet Nam issued Circular No. 52/2018/TT-NHNN on rating credit institutions and foreign bank branches from 2019 onward.Credit institutions and foreign bank branches are divided into six groups including (1) large-scale commercial banks with a quarterly average asset value exceeding VND100 trillion; (2) small sized commercial banks with a quarterly average asset value equal to or lower than VND100 trillion.
PROPERTY FIRMS OPT FOR BONDS AS BANK LOANS DRY UP
Last month, property developer Vingroup unveiled plans to sell 20 million non-convertible bonds at VND100,000 (US$4.39) each in two phases without any covered warrants or guaranteed assets.
CAN THO’S IZS LURE $112M INVESTMENT IN 2018
Industrial zones in the Mekong Delta city of Can Tho attracted a total registered investment capital of US$112 million last year, 12 per cent higher than the annual target, according to the municipal Industrial Zones and Processing Zones Management Board.
US TO APPROVE DIRECT FLIGHTS FROM VIETNAM
The United States’ Federal Aviation Administration (FAA) is expected to grant a Category 1 rating to Vietnam soon, allowing its airlines to fly to the US and codeshare with US carriers, according to the Strait Times.
NEW POLICIES TAKE EFFECT IN FEBRUARY
The policies include regulations on issuance of corporate bonds, e-transactions in financial operations, exploitation of remote sensing data.
