Seafood companies hope to sell more at home as pandemic hits exports

Tra exports fell 39.1 per cent year- on- year in the first five months to $456 million, and that included decreases of 48 per cent to the Chinese market, 47.3 per cent to the EU and 19.8 per cent to the US.— VNA/VNS Photo Vietnamese seafood companies export their products to hundreds of countries and […] Read more »

Bank lending expected to get out off coronavirus doldrums soon

Credit growth is expected to improve significantly thanks to many proactive measures taken by the Government and central bank recently to revive the economy. — Photo cafef.vn Experts have forecast bank credit growth in the second quarter to reach 3.5-4 per cent, much higher than the rate in the first quarter. In the first three […] Read more »

Restructuring, bad debts prevent banks from paying dividends

Sacombank has not paid out dividends since 2015, a policy that has caused frustration among shareholders. — Photo nongthonviet.com.vn At Sacombank’s annual general meeting held on June 5 its permanent vice chairman Pham Van Phong said that in 2019 the bank’s pre-tax profit increased by 43.2 per cent to VND3.2 trillion (US$137.5 million), which was […] Read more »

Consumer lending expected to recover well after pandemic ends

The ratio of consumer credit to total credit in Viet Nam is just around 20 per cent, meaning there is a lot of room for growth. — Photo hanoimoi.com.vn Will consumer loans remain a money-spinner for banks post-COVID-19? This was a question recently posed by market observers after witnessing the pandemic’s big economic impact on individuals […] Read more »

VN ready to be world’s factory, bus is the world?

Viet Nam attracted US$12.33 billion worth of foreign direct investment in the first four months of 2020. — Photo nhipcaudautu.vn Viet Nam attracted US$12.33 billion worth of foreign direct investment in the first four months of 2020, a year-on-year decrease of 15.5 per cent due to the impact of the COVID-19 pandemic, according to the […] Read more »

Businesses seek tax reduction to foster recovery after pandemic

The COVID-19 pandemic is a huge challenge for businesses irrespective of sector and size in all regions and countries, including Viet Nam.— Photo baoquocte.vn The COVID-19 pandemic is a huge challenge for businesses irrespective of sector and size in all regions and countries, including Viet Nam. To ride it out and recover once the pandemic […] Read more »

Viet Nam likely to benefit from low oil prices if economy restarts quickly

Analysts said Việt Nam now imports oil products mainly from Singapore but also South Korea and Malaysia. — Photo dan tri.com.vn Last Monday (April 20) US oil prices plunged into negative territory for the first time ever, meaning producers were willing to pay buyers to take crude off their hands. The price of America’s most […] Read more »

Pandemic speeds up M&A deals as companies become cheap

SaraminHR, an online recruitment firm, signed a shareholding agreement in February with Applancer, a Vietnamese company which owns TopDev, an IT recruitment platform. — Photo techtalk.vn In the first quarter of the year, Viet Nam foreign investors acquired stakes worth US$2 billion in local companies. According to the Foreign Investment Agency, the value of deals […] Read more »

Pandemic speeds up M & A deals as companies become cheap

SaraminHR, an online recruitment firm, signed a shareholding agreement in February with Applancer, a Vietnamese company which owns TopDev, an IT recruitment platform. — Photo techtalk.vn In the first quarter of the year, Viet Nam foreign investors acquired stakes worth US$2 billion in local companies. According to the Foreign Investment Agency, the value of deals […] Read more »

VN healthcare market, a big draw for investors, foreign and local

Later in the year, Hau Giang Pharmaceutical Joint Stock Company became a subsidiary of Japan’s Taisho Pharmaceutical Co Ltd after the latter acquired an additional 20.6 million shares in the former to increase its stake to 50.78 per cent. — Photo baodauthau.vn Last year, VinaCapital’s flagship fund, Vietnam Opportunity Fund (VOF), invested US$25 million in […] Read more »

Central bank delays foreign ownership cap in payment services industry

Decree No.101 allows payment service providers, including foreign ones, to freely raise capital to develop their business.— Photo bizlive.vn The State Bank of Viet Nam has said it will not cap foreign ownership of companies in the payment services industry in its draft decree to replace Decree No.101. It had spoken about plans to bring […] Read more »

New policy expected to provide boost to ride-hailing services

The Ministry of Transport will bring to a close the pilot scheme for electronic contract-based passenger transportation, popularly known as ride-hailing services, on March 31. — Photo vietnammoi.vn The Ministry of Transport will bring to a close the pilot scheme for electronic contract-based passenger transportation, popularly known as ride-hailing services, on March 31. The pilot […] Read more »

Banks’ diversified income sources protect profits amid epidemic

In response to the central bank’s appeal, many banks cut their lending interest rates by 0.5-1.5 percentage points to support affected customers. — Photo tinnhanhchungkhoan.vn On February 7, the banking sector’s outstanding loans fell by 0.38 per cent for the year, while overdue debts and non-performing loans showed signs of rising. Dr Nguyen Quoc Hung, […] Read more »

2 State-owned banks allowed to increase charter capital

The Government has decided to allow Vietcombank to increase their charter capital in the first quarter of this year.— Photo vietcombank The Government has decided to allow Vietcombank and Vietinbank to increase their charter capital by VND10 trillion (US$434.8 million) in the first quarter of this year, Deputy Prime Minister Vuong Dinh Hue said last […] Read more »