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BANKING / FINANCE / INSURANCE / TAX

VIETNAM’S NON-CASH PAYMENT MARKET BOOMS IN Q1

The figures suggest that mobile transaction has turned more popular in Vietnam, in tandem with the Government’s push for the development of non-cash payment methods, according to the Payment Department under the State Bank of Vietnam.

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VIETNAM ECONOMY INVESTMENT

INVESTORS STILL WAITING FOR NEW RENTAL PRICES AT SAIGON HIGH-TECH PARK

Dozens of businesses that want to invest in Saigon High-Tech Park (SHTP) in District 9 have not received approval because the city has yet to announce new land rental prices for public land.

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VIETNAM ECONOMY INVESTMENT

STATE CAPITAL DIVESTMENT FACES PRESSURE

According to the target set by Prime Minister Nguyễn Xuân Phúc, the State had been tasked with divesting from more than 400 SOEs over 2017-2020. In 2018 alone, the State should have divested capital from 181 enterprises, followed by 62 enterprises in 2019.

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VIETNAM ECONOMY INVESTMENT

PROCESSING AND MANUFACTURING FIRMS EXPECT TO PERFORM BETTER IN Q2

About 91.3 per cent of foreign direct investment (FDI) enterprises in the processing and manufacturing industry were optimistic that their business situation in the second quarter would be better and more stable than in the first.

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GARMENT / TEXTILE

AT A LOSS OVER FTAS

The textile and garment industry may fail to take tariff advantage from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Vietnam-EU Free Trade Agreement (EVFTA) as it cannot tackle the issue of local materials. Meanwhile, the Government and local authorities are still undecided over the planning for the industry.

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BANKING / FINANCE / INSURANCE / TAX

TAX REDUCTION FOR MEDIUM-SIZED FIRMS MAY PROMPT UNFAIR COMPETITION: MINISTRY

If a corporate income tax reduction is proposed for micro, small and medium enterprises as a whole, nearly all enterprises will be subject to the incentive, which may lead to unfair competition among them, stated Nguyen Quoc Hung, deputy director of the Tax Policy Department under the Ministry of Finance.

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VIETNAM ECONOMY INVESTMENT

FIRST CITY RECEIVES DIRECT FINANCIAL SUPPORT FROM WORLD BANK

This is the WB’s first budget support program for a locality in Viet Nam, marking a strategic shift in the cooperative activities of the WB from sector-specific investments to supporting cross-cutting policy and institutional reforms.

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VIETNAM ECONOMY INVESTMENT

WB OFFERS CREDIT TO SUPPORT HCMC’S INSTITUTIONAL REFORMS

The World Bank Board of Executive Directors on May 17 approved a US$125 million credit to assist HCMC in strengthening its institutional foundations for sustainable urban development.