Bad debt skyrockets at banks
The banking system is facing a decline in asset quality as bad debt has ballooned since Circular 14/2021/TT-NHNN expired. However, they can overcome the hardships if they set aside enough provisions and succeed in managing credit risk when lending to high-risk sectors. Bad debt surges The Covid-19
Is it time to increase credit growth cap?
Though the central bank has shown no sign of revising the credit growth target of 14% for 2022, there is still room for increasing it amidst a soaring thirst for capital induced by a bond market crash. Why is credit expansion necessary? As a credit crunch can make the country’s post-pandemic
Risks on corporate leaseholders
The draft amendments to the Land Law are intended to limit options for one-time payment of land rent, and encourage annual rent payments instead. Such a change would ensure stable income and avoid losses for the State budget, but it poses risks to enterprises. In implementing the 2013 Land Law,
Crowne Plaza launches new study on blended travel
HCMC – A recent survey commissioned by Crowne Plaza Hotels & Resorts revealed that 65% of millennials (25 to 44 years old) and 59% of Gen Z (18 to 24 years old) consumers are more inclined to work for a company that offers frequent travel or flexible, blended travel possibilities as a perk.
The legend of the walking monolith
Mother Elephant Rock Mountain (Voi Me Rock Mountain), also known as the biggest monolith in Vietnam, appears as a back of a giant elephant lying in the middle of the Central Highlands. Mother Elephant Rock Mountain along with Father Elephant Rock Mountain are the pair of Yang Tao Elephant Rock
Switching to savings accounts
The number of current account savings accounts (CASA) held by individuals has declined though it had been projected to increase on fast online payment growth which would lead to cash payments dipping CASAs plunge The past two years saw strong growth in CASAs thanks to banks pushing for electronic
Fried squid paste in Halong Bay
As one of the largest seafood regions in Vietnam, Quang Ninh has the tastiest seafood dishes that one cannot forget. Among them, fried squid paste in Halong Bay will leave a lasting impression on diners thanks to its unforgettable taste. Halong fried squid paste (cha muc) is made from cuttlefish
Experience Hanoi in its autumn glory
Thanks to its geographical location, the Vietnamese capital city of Hanoi witnesses contrastingly different weather conditions during the four seasons of the year. Autumn, from August to November, is seen as the most beautiful time of the year. It is a time of blue skies, a lovely nip in the air,
Deferred tax payments put at VND106 trillion in Jan-Nov
HCMC – The tax offices have deferred tax payments of VND105.9 trillion between January and November this year, representing 78.4% of the plan set in the tax deferral policy at VND135 trillion, according to the Ministry of Finance. The deferral of value added tax (VAT), corporate income tax (CIT),
Jan-Nov goods exports expand over 13%
HCMC – Vietnam’s merchandise exports in the year to end-November had amounted to an estimated US$342.21 billion, a rise of 13.4% over the same period of last year, according to the General Statistics. According to the Government news website (chinhphu.vn), processed and manufactured goods
Techfest Vietnam 2022 seminars highlight corporate innovation
HCMC – Business representatives, State officials, and experts at home and abroad gathered at the Binh Duong Innovation seminar series held yesterday, sharing their insights about a roadmap for upgrading manufacturing toward Industry 4.0 and corporate innovation. The seminars are part of the
Danang sees industrial production up 8.6% in Jan-Nov
HCMC – Danang’s industrial production index (IPI) in the year to November had improved 8.6% over the same period last year, according to data from the Danang Statistics Office. During the 11-month period, the central coast city saw its manufacturing and processing sector expanding 7.4%