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PM Phuc highlights Visa’s presence in Vietnam

PM Phuc highlights Visa’s presence in Vietnam

VOV.VN -Prime Minister Nguyen Xuan Phuc was appreciative of the US company’s presence in Vietnam over the last two decades, as well as its close coordination with the State Bank of Vietnam (SBV) and other Vietnamese partners.

Vietnamese dong given stable outlook

Vietnamese dong given stable outlook

The Vietnamese dong would be steady next months, buoyed by positive foreign inflow and reasonable gap between interest rates of the dong and the US dollar as well as the stability of the Chinese renminbi, experts said.

Customs authorities to stop accepting cash

Customs authorities to stop accepting cash

Payments of import-export taxes and fees to customs authorities must all be conducted via cashless payment methods or through credit institutions from the beginning of April, according to a requirement recently issued by the General Department of Vietnam Customs.

Foreign investment in banking sector to surge

Foreign investment in banking sector to surge

The improved business performance of Vietnamese banks and a Government regulation to require local banks to meet stricter capital regulations as part of Basel II standards is spelling the start of a wave of foreign investment into the country’s finance and banking sector in 2019, experts said.

Microfinance sees bright prospects due to rising demands

Microfinance sees bright prospects due to rising demands

Amidst the growing demands for microfinance in Vietnam, the potential of expansion for the sector is high, but experts have advised that microfinance organisations should work harder to develop in a sustainable manner.

Banks expected to maintain good performance in 2019

Banks expected to maintain good performance in 2019

A majority of credit institutions in the country expect an upward trend in their business in 2019 after gaining good results last year, according to a State Bank of Vietnam (SBV) survey released recently.

Selling shares to foreign investors, VCB’s charter capital up

Selling shares to foreign investors, VCB’s charter capital up

The charter capital of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has risen by 3 percent to 37.1 trillion VND (1.6 billion USD) after its recent sale of more shares to two strategic investors - the Singaporean investment fund GIC Private Limited (GIC) and Japan’s Mizuho Bank.

Central bank builds up currency reserves

Central bank builds up currency reserves

The State Bank of Vietnam (SBV) has so far this year bought more than 1 billion USD from commercial banks to build up the nation’s foreign currency reserves.

Central bank issues roadmap for ATM card upgrades

Central bank issues roadmap for ATM card upgrades

Under a new regulation, commercial banks will have to switch 30 percent of their current magnetic strip ATM cards – more than 25 million in total – to chip cards by the end of this year to enhance safety and service quality.

Economic growth could reach 6.9% in 2019: VEPR

Economic growth could reach 6.9% in 2019: VEPR

Vietnam’s economic growth could reach 6.9 per cent in 2019, an increase of 0.1 per cent compared to the 2019 socio-economic development plan adopted by the National Assembly, in the context that Vietnam is benefiting from the US-China trade war.
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