Business News

Vietnam is poised to adopt global minimum tax (GMT) regulations, a move set to impact 122 foreign investment conglomerates and strengthen the country's fiscal framework in line with international standards. Le Quang Manh, chairman of the National Assembly's Finance and Budget Committee, underscored the necessity of Vietnam adopting the GMT guidelines at a meeting on November 10, 2023.

Experts have shared a view that green credit and green growth play an important role in implementing the National Green Growth Strategy in the 2021-2030 period with a vision until 2050 as they create resources for environmentally-friendly projects and programmes.

The chief economist of the Bank for Investment and Development of Vietnam (BIDV), Can Van Luc, has predicted the banking system may earn lower profits in 2023 than in previous years due to falling interest rates, the Vietnam News Agency reported.

The Ministry of Finance (MoF) has recommended reducing VAT by 2 per cent for the first six months of 2024 on some groups of goods and services that are currently subject to the 10 per cent rate.

According to Phương, in terms of the legal framework, the 2019 Securities Law, the 2020 Investment Law, the 2020 Law on Enterprises, and the documents guiding their enforcement have created optimal conditions for investment flows, facilitated access to information in English as well as registration and opening accounts of investors, and enhanced market transparency, thus gradually meeting the criteria for market upgrade.

During a bank-business connectivity meeting in Thái Nguyên Province on Wednesday, Deputy Governor Phạm Thanh Hà revealed that as of September 29, the total credit for the entire economy reached nearly VNĐ12.7 quadrillion (US$531.2 billion), marking a 6.92 per cent increase since early this year.

During a bank-business connectivity meeting in Thái Nguyên Province on Wednesday, Deputy Governor Phạm Thanh Hà revealed that as of September 29, the total credit for the entire economy reached nearly VNĐ12.7 quadrillion (US$531.2 billion), marking a 6.92 per cent increase since early this year.

When Christina Bao, Co-Head of Sales & Marketing at the Hong Kong Exchanges and Clearing Limited (HKEX), came to Việt Nam for a conference, Việt Nam News reporter Ly Ly Cao took the opportunity to speak to her about solutions to enhance the country’s stock market and how Hong Kong can support Việt Nam in the upgrading process.