Trade - Service

The Ministry of Transportation is collecting comments on the draft of a plan to enhance aviation connectivity with tourist markets.

Although each e-wallet app has its own development strategy and market segment, most of them do not possess an ecosystem and a large network of points of sale (POS).

The program aims to promote Vietnam tourism and attract more foreign visitors.

After two months of trial, Go-Viet app has been downloaded 1.5 million times and accounts for 35% of market share for two-wheel ride hailing in Ho Chi Minh City, stated Go-Jek`s CEO and founder.

Vietnam`s ride-hailing market with high dynamism has been growing at a rapid rate, for which plans should be made in month and not year, said Tan Hooi Ling, Grab`s co-founder

The amount was part of a total of VND66.86 billion (US$2.91 million) in back taxes and fines that the Ho Chi Minh City Tax Department had asked Uber to pay since September 2017.

Trade costs in developing countries remain high, mainly due to administrative procedures, according to expert of the Global Alliance for Trade Facilitation (GATF) in Vietnam cited by the government portal.

The bad debt bank requested to be provided in full VND5 trillion (US$213.2 million) of charter capital, aiming to have sufficient capital for the purchase of bad debts under market value.

The total premiums collected by insurance companies in the first eight months of 2018 stood at VND80.83 trillion (US$3.45 billion), up 38.81% year-on-year.

The possession of long-standing media culture with the mix of modern life is the advantage to help Asia cities attract more European and US tourists.

Standard Chartered in July raised its growth forecasts for Vietnam to 7% this year, based on the influx of foreign direct investment.

Vietnam`s retail e-commerce sale is expected to reach US$10 billion by 2020, which is considered a "promising land" for foreign investors, especially those from China, Zing reported.

This year`s conference will also provide an opportunity for travel companies from 10 official member cities to exchange and work together on the development of Asian tourism.

Chairman of the Council for Promoting Tourism in Asia (CPTA) Yuji Fujita highlights the potential of Hanoi`s tourism.

Vietnam posted a trade surplus of US$265 million with Russia between January and July, down 39% year-on-year, which was due to growing number of Russian imports to Vietnam, stated General Department of Vietnam Customs (GDVC).

Current legal regulations are hindering state-owned banks to attract foreign investors to their private placement though the measure is considered effectively to help the banks meet its urgent need for capital increase under the State Bank of Vietnam (SBV)’s regulation on Basel II standards.

From August 24 to 30, Thailand and Indonesia exported 2,188 and 716 units to the Vietnam`s market, respectively, accounting for 94% of total cars imported to Vietnam.

Spending on social, health and unemployment benefits hit a total of VND202 trillion (US$8.65 billion) in the January - August period, or 68.61% of the year`s target.

"The consumer confidence level in Vietnam remains on par with that of the second quarter last year, well above the global average and the neutral threshold," observed Nielsen Vietnam`s representative.

The decision is part of the State Bank of Vietnam (SBV)`s recent released circular, providing guidance on foreign currency management in cross-border trade between Vietnam and China.