Major banks lower deposit interest rates
HCMC – Deposit interest rates at many major banks in Vietnam have been lowered by 0.1 to 1.1 percentage points compared to those in early May, making it possible to offer lower lending rates, according to the local media. Vietcombank has recently lowered its deposit rates for tenors of one to two,
Electronics retail sector in distress
The electronics and technology retail sector has taken a hit from the global economic downturn, with many large companies having performed poorly over the last two years. Sales are hit hard Many retail giants, including Mobile World Investment Corporation (MWG), FPT Retail and Digiworld, saw a
PouYuen to lay off thousands of workers next month
HCMC – PouYuen Vietnam, the most labor-intensive firm in Binh Tan District, HCMC, has decided to lay off almost 6,000 workers in June and July due to the shortfall of new orders for the year. At a recent meeting with city departments, leaders of Pou Chen Vietnam Group and PouYuen Vietnam disclosed
Mounting challenges
As the tax and land fee incentives that have made Vietnam appealing to foreign investors are about to end, the Government needs to devise a different strategy to attract new foreign investors and retain existing ones. Operational foreign investments decline According to the Foreign Investment
A shield for personal data
The Government on April 17, 2023 issued Decree 13/2023/ND-CP on protecting personal data to help build a legal corridor for the national digital transformation, aiming at achieving information security and development of the digital society This decree recognizes all basic rights of individuals as
Hai Phong establishes Green Growth Directing Committee
The Hai Phong City Steering Committee on Green Growth is an inter-sectoral coordination organization, with the function of helping the Hai Phong City People's Committee to research, direct and coordinate in solving important and related tasks on green growth; develop and implement the Action Plan
Credit growth and rate cuts
Since early this year, many banks have made deep deposit rate cuts, with the rate for tenures shorter than six months reduced by 0.5 percentage point and that for longer tenures slashed by 1.5 to 2.0 points. The lending rate, however, remains high as its reduction has been narrower than that of
Population aging is cause for concern
Vietnam’s population has reached the 100-million mark, making the nation one of the 15 most populous societies in the world. The country’s golden population period will become history soon and the population has begun to age. Research showed that those countries entering into a golden population
The population is aging
By the end of this April, Vietnam’s population has reached 100 million, according to the United Nations Population Fund (UNFPA). What are advantages and challenges? Recent statistics showed that Vietnam has the 15th largest population in the world. On March 17, UNFPA said that Vietnam would soon
The May fear factor
Data in the past showed that the market performance in May was not always the worst. In recent years, the “selloff in May” phenomenon seems no longer a significant concern. So, is the fear of May exaggerated? The past was not too bad After a rise of 3.7% in March, the VN-Index reversed course and
NA Standing Committee turns down blanket VAT cut
HCMC – The Government’s proposal for lowering the value added tax (VAT) from 10% to 8% has been endorsed to go before the National Assembly (NA) at its next sitting, but the NA Standing Committee has declined a blanket tax reduction for all goods and services. If the NA issues a new resolution
Two more expressways to be opened to traffic next week
HCMC – Two more expressways as part of the big-ticket North-South Expressway project will be opened to traffic on May 19, according to the Ministry of Transport. Nha Trang-Cam Lam expressway has a total length of over 49 kilometers in the central coastal province of Khanh Hoa, and requires a total
