New Step in FTA between Vietnam and Eurasian Economic Union
The Free Trade Agreement (FTA) between Vietnam and the Eurasian Economic Union keeps advancing after being ratified by President Vladimir Putin, which means that Russia fulfilled the procedure for its entry into force, it was learned today here. Putin signed the document yesterday and so his country became the second of the aforementioned block to […]
Real estate sector M&As on the rise
Vietnam is becoming an attractive profit-generating market for investment in Southeast Asia, with a low interest rate, record low inflation in 2015, and the VND exchange rate far better than other currencies in the region. The number of foreign and domestic investors studying the real estate market in Vietnam has been increasing sharply since the […]
BIDV, Vietinbank and VCB simultaneously lower lending rates
Complying the direction of the prime minister on adjusting lending rates for enterprises and the direction of the Governor of the State Bank of Vietnam (SBV) on reducing lending rates to remove difficulties for production and business activities and support the market, in the evening of April 28th 2016, the Commercial Joint Stock Bank for […]
Banks cut lending rates
A number of banks, including State-run BIDV and Vietcombank, have slashed lending rates for corporate clients with good operations. Bank for Investment and Development of Vietnam (BIDV) last Friday announced rate cuts for loans in dong. Its short-term rates are down by 0.5 percentage point for customers in need of loans for business and production, […]
Role of financial services in international trade highlighted
International payments and logistics services play a crucial role in global economic integration, especially the development of guarantee services and Standby Letters of Credit – the modern instruments that provide a sense of security for businesses’ transactions. Hoang Quang Phong, vice President of the Vietnam Chamber of Commerce and Industry (VCCI) made the statement at […]
VASEP requests access to foreign-currency loans
The Vietnam Association of Seafood Exporters and Producers (VASEP) has requested the State Bank of Vietnam (SBV) to revise the current regulations to let them access short-term foreign-currency loans. According to the SBV’s Circular on credit institutions and foreign bank branches providing foreign-currency loans to residents, short-term loans to fund the export of goods were […]
Workshop discusses how to boost exports to the US
Inaccurate labeling of goods and materials in contravention of the regulatory requirements of the US Food and Drug Administration (FDA) were common mistakes which Vietnamese firms make when exporting to the US, heard a workshop on opportunities to export to the US and FDA requirements for imports recently held in Hanoi. FDA technical expert David […]
Trade facilitation beneficial to businesses: Experts
A memorandum of understanding (MoU) to improve the domestic business environment and raise awareness on free trade agreements (FTAs) such as the Trans-Pacific Partnership (TPP) was signed at a conference on joint action for trade facilitation held on April 6 in Ho Chi Minh City. The signatories included the Ho Chi Minh City People’s Committee, […]
Multilevel marketing-related fraud challenges state management
The recent arrest of leaders of a Hanoi-based company in the biggest multilevel marketing-related scam in the country so far has triggered concern about the state management of this business model.On February 20, Le Xuan Giang, management board chairman of the Vietnam Commercial Production Joint Stock Company (Lien Ket Viet) was arrested for alleged fraud […]
More statutory reforms made to attract PPP investment
With a view to further renewing the way of formulating public-private partnership (PPP) projects, the Ministry of Planning and Investment on March 1, 2016, issued Circular No. 02, guiding the preliminary selection of, and elaboration, appraisal and approval of proposals and feasibility study reports of, PPP projects.This Circular applies to PPP projects subject to regulation […]