Prime Minister Nguyen Xuan Phuc has asked the Government Advisory Group to submit a document by April 30 outlining necessary steps to turn Ho Chi Minh City into an international financial centre.
HCM City has committed to develop a detailed plan to turn the city into a regional and international financial hub after years of delay in carrying out the ambitious goal.
Identifying HCM City’s typical export products should not be based simply on their export volume or value or subjective decisions, but on careful analysis, experts have said.
Despite the current increasing foreign investment inflows, merged and acquired banks will consider selling stakes to foreign investors after completing the restructuring to up the attractiveness of sales, bank officials said.
Commercial banks are expecting the revenue from fees and retail banking services to become their main income sources this year, as a result of rising market demands.
VOV.VN - Economic expert Dr. Tran Du Lich has pointed out huge opportunities for Vietnamese exports to the US market, especially after Nutifood Vietnam, a private business, won a contract to export dairy products to the US, one of the world’s most demanding consumption markets.
Investment in the central province of Quang Tri is on the rise. But without adequate preparation, Central Coastal Region Development Cooperation Advisory Team head Tran Du Lich warns, businesses could miss out on “a golden opportunity” to set up shop in this emerging destination.
Economists say that 2017 is expected to be an auspicious year for Vietnam’s economy, with few signs of uncertainties.
Though the bad debt ratio of the banking system has been reported to drop to below 3% of its outstanding loans, how to deal with the amount of bad debt stuck at the Vietnam Asset Management Company (VAMC) is still a troublesome job.
The property market will continue recovering but experts told an online forum held by Dau Tu (Investment) newspaper recently that they do not expect breakthroughs in the second half of this year.
HCM City has asked the Government for a bonus of VND10 trillion (US$450 million) for exceeding its tax revenue target last year.
Different opinions on the draft Law on Supporting Small and Medium Enterprises (SMEs) will be gathered at a consultation conference held by the Ministry of Planning and Investment in Ho Chi Minh City between June 9-11.
VOV.VN - The last session of the 13th National Assembly is taking place in Hanoi. Activities of the 13th NA, which is considered one of dynamism and reform, have contributed to national construction and defense and international integration.
Experts are concerned about new non-performing loans rising significantly while the Vietnam Asset Management Company (VAMC) still has to devise radical measures to resolve bad debts acquired from banks.
Voters nationwide have closely followed the 11th session of the 13th National Assembly, and expressed their satisfaction with the NA’s and its agencies’ activities during the last tenure.
Terms for bonds issued by the Vietnam Asset Management Company to buy bad debts from credit institutions, will be extended from five years to 10 years in some cases.
VOV.VN - The lack of a timely and coherent strategy by local companies to cope with regional and global integration has given rise to increasing doubts about the process and the nation’s ability to successfully navigate the transition.
Experts have a positive outlook for the economy in 2016, which is the first year in the five-year socio-economic development plan and also marks the start of a new period in the integration process when a series of free trade agreements take effect.
US insurer Prudential has bought 30-year bonds issued by the Vietnamese government at a whopping VND500 billion (US$22.32 million) and pledged to increase the investment by 12 times within this year.
Foreign investors have been reluctant to buy Vietnam’s bad debts, after initial consideration.