Business News

[15-09-2016] If you have missed the HSBC Annual Business Luncheon “Step into the Future” - Vietnam's economic prospects: Every cloud has a silver lining! in HCMC on Sept. 13, 2016 and Hanoi on Sep. 14, 2016.

[14-09-2016] According to a source of VIR, Civil Aviation Authority of Vietnam (CAAV) has finished reviewing the dossier that Vietstar One-member Co., Ltd. earlier submitted to gain a license to provide air transport services.

[13-09-2016] Individuals, firms, tourism associations and financial institutions at home and abroad will have the opportunity to manage a tourism development assistance fund planned to be established in September, according to the Vietnam National Administration of Tourism (VNAT).

[14-09-2016] Foreign direct investment in Ho Chi Minh City’s real estate sector continues to rise across residential, office, and retail segments. In the first eight months of 2016, the city’s real estate sector attracted the most foreign direct investment, with capital of $318.9 million so far disbursed. Singapore is the top investor in the local real estate sector, followed by Japan and Korea.

[13-09-2016] Before 2009, it was not possible for a foreign investor to legally acquire a tenancy interest in land for commercial business purposes in Vietnam. As a result of the passage of new legislation since 2009, it is now possible under a limited number of circumstances for foreigners to acquire a long-term tenancy in land for use such as for a factory, warehouse, retail, wholesale or office space.  

[12-09-2016] Poor management of risks and weak supervision of banks were the roots of the largest problems that Việt Nam’s banking system is facing, experts said during a workshop. The conference was held late last week, and sponsored by the National Economics University’s School of Banking and Finance.

[13-09-2016] Many commercial banks have recently raised their deposit interest rates in an attempt to satisfy new State Bank of Việt Nam’s regulations that are due to take effect in 2017. Under Circular 06/2016/TT-NHNN, commercial banks will have to lower the ratio of short-term funds used for medium and long-term loans from 60 per cent to 50 per cent from January 1, 2017 to December 31, 2017.

[12-09-2016] Making an entrance into the Vietnamese banking landscape as representative offices, then moving up the ladder to become branches and 100 per cent foreign-owned units when the right time came and regulations allowed, Japanese and Korean financial institutions are taking careful steps to strengthen their footholds in the country. Not only do they want to cater to their home-based institutional clients, but also to the 90 million possible retail customers living in Vietnam. Trang Nguyen reports.