Revitalizing tourism
Danang’s tourism industry did well in 2019, with 8.6 million visitors, including 3.5 million foreigners, VND30,973 billion in revenue and 35 international flight routes. After three years of an unexpected suspension, the tourism sector of the central coastal city is looking for a second boom.
Is it time to tighten bancassurance?
Making the sale of insurance transparent and managing the quality of consulting during this process are the key to ensuring the long-term sustainable development of bancassurance—the distribution of insurance products via banks. A “gold mine” called insurance 2022 was another “bumper” year for
Foreign reserves rise again
Vietnam’s foreign exchange reserves are being replenished. Signs foreseen The State Bank of Vietnam (SBV) has been buying foreign currency since January, acquiring an extra US$2.78 billion last month, raising the nation’s foreign exchange reserves to US$91.78 billion, as per an analytical report
Making digital nomad a lifestyle
For Sylvie Nguyen, being a digital nomad is a lifestyle. Traveling to new environments and new countries inspires her and helps her strike a good balance between her work and personal life. In an interview with The Saigon Times, Nguyen talks about her life as a digital nomad, its benefits and
Forex rate vs interest rate
Forex rate and interest rate are two major macro variables in the economy, and they alongside inflation take center stage in monetary management. The correlation between the two variables was specially visible in 2022, with the State Bank of Vietnam (SBV) pivoting around each of them in its
Businesses prudent with financial targets
Gloomy business conditions are expected to continue through 2023, reflected in Vietnamese enterprises setting modest financial targets for the year Planning in caution Though PetroVietnam Ca Mau Fertilizer JSC saw a sharp spike in profit after tax in 2022, up 2.3 times against 2021 to over
Fighting against counterfeits
In early November last year, traders in the Saigon Square shopping center in downtown HCMC tidied up their goods, closed their stores and quickly left the mall when a market surveillance force rushed in. Three months later, the shopping center seemed to return to normal. The Office of the United
Can housing tax help prevent speculation?
Vietnam is among nations with the highest house price to income ratios. The fast rise of housing prices in major cities is a big headache for authorities as it aggravates inequality and hinders access to housing by low- and middle-income people. Housing tax is a widely-used measure to control and
Finding opportunities in Vietnam
We have heard the importance of looking within, finding yourself, and being true to what you see. To Vietnamese, while changes can be made at any time, the New Year seems the best time to commit to leading your best life. Echoing the same opinion, Alushka Linh, a young woman from South Africa, has
Chance for market upgrade
Is the fact that foreign investors, especially those ETFs (Exchange Traded Funds) specializing in emerging and frontier markets, have been net buyers since last year a sign that Vietnam’s stock market is approaching an upgrade? Net buying despite market correction Though the local stock market has
What causes interest rates to slide?
Banks’ unexpected deposit rate cuts before and immediately after the Lunar New Year are explainable Unexpected, yet understandable The deposit rate bracket at Techcombank, effective from January 30, has undergone a drastic change, with a drop of 0.5 percentage point to 8.5% per annum for terms of
Limited monetary policy options
As monetary policy tools are nearly exhausted, fiscal policy needs expanding to spur growth as more challenges are on the horizon. Boosting public investment in infrastructure development and funding the economic recovery and development program are seen as key priorities in 2023. Narrower