Bao Viet tops Vietnam insurance market

Bao Viet tops Vietnam insurance market

The Bao Viet Group ranked first among the insurance companies in Vietnam with a revenue of more than VND9.9 trillion (nearly US$423.7 million) in the first half of 2018.

SOEs divestment lags behind schedule

SOEs divestment lags behind schedule

The equitisation plans of eight State-owned enterprises (SOE) were approved in the first half of 2018, with a total value of VND29.37 trillion (US$1.29 billion), including more than VND15.16 trillion (US$667.04 million) of State capital, the Ministry of Finance has reported.

206 foreign brands franchised in Vietnam

206 foreign brands franchised in Vietnam

The Ministry of Industry and Trade has granted 206 franchise licences for foreign brands in Vietnam since 2007, reports from the ministry showed.

Vietnam enters global smarthome industry

Vietnam enters global smarthome industry

The difference between made-in-Vietnam and foreign-made smarthome solutions is that the former can be controlled by demands in Vietnamese, regardless of whether the house owners speak with northern, central or southern accents.

Banks post impressive profit growth in H1 2018

Banks post impressive profit growth in H1 2018

Many banks have reported impressive profit growth in the first half of 2018, compared to the same period last year, thanks to the high credit growth and the improvement from the retail banking segment.

Canada investigates Vietnam’s carbon steel welded pipe

Canada investigates Vietnam’s carbon steel welded pipe

The Canada Border Services Agency (CBSA) has launched an investigation into whether or not carbon steel welded pipes from Vietnam, the Philippines, Pakistan, and Turkey are being sold at unfair prices in the northern American country.

US Vemani Group buys 20% stake in Vietnamese fintech firm

US Vemani Group buys 20% stake in Vietnamese fintech firm

Vemanti Group, Inc., a technology-driven holding company, has entered into a definitive agreement to take 20% equity interest in eLoan JSC (eLoan), a Ho Chi Minh City-based fintech company. The deal’s value has yet to be disclosed.

Mumuso faces fine of VND100 million from MoIT

Mumuso faces fine of VND100 million from MoIT

Mumuso is facing a fine of VND100 million (US$4,440) by the Ministry of Industry and Trade (MoIT) due to the company’s unlawful practice of deliberately misleading consumers as to the origin of its goods or providing insufficient information.

FDI strategy to become proactive

FDI strategy to become proactive

Vietnam’s attraction of next generation of foreign direct investment in high value-added sectors should be proactively, rather than retroactively, sourced to sustain the nation’s socioeconomic development and competitiveness.