SBV orders banks to review corporate bond trade
HCMC – The State Bank of Vietnam (SBV), the nation’s central bank, has told banks to make sure that their clients can fully understand the difference between bank deposits and investments in corporate bonds and fund certificates. The central bank has written to commercial banks telling them to
MWG lays off thousands of workers in Q1
HCMC – Weak consumption led Mobile World Investment Corporation (MWG) to cut almost 6,000 jobs between January and March, marking the second consecutive quarter of its mass layoffs. MWG’s financial statement in the fourth quarter of 2022 showed that its workforce had been reduced to just over
Registered capital per enterprise in Vietnam declines in Jan-Apr
HCMC – Though the country saw a rebound in new market entrants in April with nearly 16,000 firms, the average registered capital per enterprise fell in the first four months of the year over the year-ago period. Each company which was registered in the first four months had VND9.3 billion in
Landmark Ben Thanh market gets facelift
HCMC – The 100-plus-year-old Ben Thanh market, an iconic structure in the center of HCMC, has got a facelift. The exterior of the building has been repainted in its original color. A vendor at the Ben Thanh market said the repainting makes the market more beautiful and attractive to tourists. Due
Around 60 traffic accidents occur in the first two days of public holiday
HCMC – The Traffic Police Department said that 60 traffic accidents nationwide had killed 26 people and injured 28 others during the first two days of the public holiday, April 29 and 30. Accidents mainly occurred on roads, of which the most serious one was two cars crashing on a section of the
Vietjet reported a profit of VND 168 billion in the first quarter
Vietjet Air recorded a profit after tax in the first quarter of 2023, reaching VND 168 billion, up 320% over the same period in 2022.
Lifting the value of export apparel
Experts agree that improving textile production, fashion design and localization is needed for the long-term development of the domestic garment sector. Increasing product quality Most raw materials used in Vietnam’s textile sector are imported from China and other countries, making the industry
Affordable housing requires new policy
Prime Minister Pham Minh Chinh signed Decision 338/QD-TTg on April 3, 2023, approving an investment plan to build at least one million social homes in the 2021-2030 period. Given the current stagnant property market, there is a pressing need to consider implementing new policy to develop
Moving out of hibernation
The tight monetary policy and the corporate bond and housing market crash in the second half of 2022 resulted in a cash crunch in the real estate market. However, capital has begun flowing back to the housing market. Capital flows back Data from the Ministry of Finance showed that corporate bond
Bancassurance and regrettable prejudices
In advanced economies, life insurance is increasingly popular to most people, and bancassurance arrangements account for more than two-thirds of all insurance policies. Such facts prove that life insurance is essential, and bancassurance is trusted by policyholders. That trend, however, seems
Bracing for upcoming challenges
Obstacles to economic growth were found as shown by statistics at the end of 2022 and became more serious in the first quarter this year. Currently, most key economic indicators are much poorer than in the same period last year. The value of textile and garment exports hit rock bottom, while the
Foreign capital
Improving the business environment and planning land use for industrial production are needed to attract foreign capital. Enhancing industrial land use policy In 2022, the southern province of Dong Nai emerged as one of Vietnam’s top five destinations for foreign direct investment (FDI), the first
