Transactions are made at a Vietcombank branch (Photo: VNA)
Hanoi (VNA)♋ – A recently-approved blueprint for improving access to banking services aims for 70 percent of adults in Vietnam to have bank current accounts by 2020.
The plan, signed off by Prime Minister Nguyen Xuan Phuc, also aims for at least 20 branches or transaction offices of commercial banks per 100,000 adults.
While 35-40 percent of rural adults are expected to have savings at credit institutions, the plan also looks to have 50-60 percent of small- and medium-sized enterprises (SMEs) get credit from these organisations.
Under the blueprint, banking services access in the economy will be improved alongside restructuring banks.
The State will create a favourable legal framework for organisations to diversify banking services, especially non-credit services. Credit institutions will be encouraged to provide banking services for remote areas and SMEs.
The use of information technology will also be stepped up to ensure the services’ convenience for rural and low-income clients.-VNA
Banking assets by the end of 2015 rose 12.35 percent year-on-year to more than 7,319 trillion VND (332 billion USD) thanks to the improved business performance of most of the credit institutions.
The banking sector will apply comprehensive monetary policies and banking operations to improve credit access, focusing on enhancing national credit ratings, according to the State Bank of Vietnam.
The Government has approved an e-commerce development plan for 2016-20 that targets 50 percent of consumers switching from cash to other forms of payment.
The State Bank of Vietnam (SBV) expects to submit to Prime Minister Nguyen Xuan Phuc a project to restructure credit institutions between 2016 and 2020 in Q3 of 2016.
While support to enable firms to engage in global value chains has become pressing amid rapid international integration, businesses are still struggling to access credit, especially SMEs.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Transactions are made at a Vietcombank branch (Photo: VNA)
