Banking & Finance

A lower value-added tax is seen as instrumental to promote business/production activities at a time of economic hardship due to the Covid-19 pandemic.

Extending land rental fees and taxes payment deadlines are among key measures from the Government to support businesses and individuals during the pandemic.

The penalty is seen as unprecedented but a necessary move to ensure the transparency and healthy development of Vietnam’s stock market.

Credit should be channeled to priority fields and production/business activities with positive impacts on socio-economic development.

The Vietnam Open Innovation Landscape 2021 Report was launched on January 13.

FLC Chairman Trinh Van Quyet is subject to the heaviest penalty for failing to notify stock market authorities before selling his FLC shares.

Mergers and acquisitions (M&A) in Vietnam’s technology sector have made a strong breakthrough.

The grant will improve Tien Phong Commercial Joint Stock Bank's capacity to lend to women-owned and led small and medium-sized enterprises, hire staff, and promote its services to female borrowers.

The banking sector is expected to tighten credit into risky fields, including real estate and securities.

Next year, the State Bank of Vietnam expects the credit expansion to be around 14%, slightly higher compared to this year, for which the central bank is committed to further restricting credit going into risky fields.

A large number of magnetic-card holders in Vietnam have not seen many benefits from using chip cards so they refuse to make the replacement.

This year, tax revenue was estimated at VND1,510 trillion ($66.1 billion), exceeding the year’s estimate by 12.47%.

Digital transformation in banking is indispensable to providing products and services to the Vietnamese population, especially the vulnerable.

The move is aimed at promoting non-cash payment in Vietnam during the period.

Credit growth in 2021 is estimated at around 12-13%, roughly the rate recorded in the same period of last year.

The move is aimed at diversifying products on offer and boosting market liquidity.

Many banks have reached their respective credit limits in the first nine months of 2021.

On an annual basis, the bond market expanded 23.5% year-on-year in the third quarter, slowing from 27.5% year-on-year growth in the second one.

Banks’ profits are expected to decline by a total of VND20.6 trillion (US$908.3 million) until late 2021 due to business support schemes during the pandemic.

This resulted in trillions of dong being pumped into the economy and helped reduce the inter-banking lending rates.