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Tag Archive for ‘Bank’

Low VAT rates in Vietnam benefit the rich more than the poor: World Bank

Despite widespread public opposition to raising VAT rates, a World Bank chief economist argues otherwise. Moving forward with tax reforms is important for Vietnam to ensure sustainable growth and macroeconomic stability.Vietnam’s tax-to-GDP ratio has fallen over recent years, from 23.5% of GDP in 2010 to 19.1% of GDP in 2015. This is mainly because of […]

Modern bond project launched to facilitate customs clearance in Vietnam

A project on customs bond was launched by the Global Alliance for Trade Facilitation (GATF) and the Vietnam Private Sector Forum (VPSF) on September 1, aimed at facilitating customs clearance in Vietnam. This is the start of the GATF Technical Assistance Project with the Government of Vietnam to provide a viable solution for the country […]

HCM City seeks to mobilize capital from private sector

With public funding only able to meet a fifth of the VND1.8 quadrillion (US$80 billion) required for development works in HCM City’s in 2016 – 20, municipal authorities are striving to involve the private sector. According to Su Ngoc Anh, Director of the city Department of Planning and Investment, many new measures and policies have […]

Experts divided on recognizing bitcoins, Vietnam central bank says no

Hundreds of thousands of retail points in Japan are accepting payments in bitcoin for both online and on-the-spot transactions. The Vietnamese government has approved a plan for a legal framework to manage and deal with electronic money, virtual assets and currencies. This has raised hopes that bitcoin and other virtual currencies would be accepted for […]

VND reference exchange rate drops on August 29, 2017

The State Bank of Vietnam set the daily reference VND/USD exchange rate on August 29 at VND22,438 per USD, down VND5 from the previous day. With the current trading band of +/-3%, the ceiling rate applied for commercial banks during the day is VND23,111 and the floor rate VND21,765 per USD. The opening hour rates […]

Techcombank to sell 500 million shares in two phases

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) will put 500 million shares on sale in two phases. According to newswire CafeLand, in the first phase, Techcombank will issue 70 million shares at the initial price of VND30,000 ($1.32) apiece. The sale is expected to take place between September and October or when the bank […]

Vietnam shares may not extend rallies through August, 2017

Vietnamese shares have risen during the last three sessions on both the local exchanges, but this rally is not expected to sustain through the last trading week of August. This is because investors will try to accrue profits from their recent gains, while supportive business-market information is lacking, according to experts. The benchmark VN Index […]

HCM City needs US$37 billion for breakthrough programmes

Ho Chi Minh City will need massive investment from the private sector if it is to meet its goals for transportation, flood control and other areas over the next three years, municipal authorities said at a meeting held on August 24. To implement its seven major programmes for the 2016-20 period, the city needs around […]

VND reference exchange rate down by VND1, 25 August 2017

The State Bank of Vietnam offered its reference VND/USD exchange rate at VND22,446/USD on August 25, down by VND1 from August 24. With the current /- 3% VND/USD trading band, the ceiling exchange rate is VND23,119 per USD and the floor rate is VND21,773 per USD. Major commercial banks made slight changes to their rates. […]

APEC discusses experiences in simplifying Vietnam business registration

APEC members shared their experiences in assisting companies, especially micro, small and medium-sized ones, smoothly register for doing business at a workshop titled “Simplified business registration and incorporation according to international best practices” held in HCM City on Thursday. Hosted by the US, the workshop attracted around 100 participants and experts from 21 APEC economies. […]