WORLD BANK OFFERS NEW CREDIT TO DEVELOP URBAN CENTRES
The World Bank (WB) Board of Executive Directors yesterday approved a US$194.36 million credit plan to help four secondary cities in Việt Nam build critically-needed municipal infrastructure and strengthen urban planning.
VIET NAM’S CREDIT GROWTH EXPANDS BY 5.07% IN FIVE MONTHS
The credit growth of Vietnamese banks in the first five months of this year expanded by 5.07 per cent against the end of 2018, the State Bank of Việt Nam (SBV) reported.
SHARED DATABASE NEEDED TO FIGHT TAX LOSS IN E-COMMERCE
A shared database was necessary because there is no specific measure to calculate revenues, sales and expenses of organisations and individuals selling goods and services online, according to the Ministry of Industry and Trade’s Vietnam E-commerce and Information Technology Agency deputy director Lại Việt Anh.
PRIVATE FIRMS ENCOURAGED TO JOIN CREDIT INFORMATION MARKET
To date, only two companies are eligible to provide credit information in Việt Nam, including the Credit Information Centre (CIC) under the management of the central bank and Vietnam Credit Information Joint Stock Company (PCB) – a joint venture founded by 11 local banks.
MORE MARKET ACCESS FOR INSURANCE AUXILIARIES NEEDED: NA DEPUTIES
“In the market economy, insurance is seen as a State service. If the State can’t meet market demand, private firms and individuals must join and make the sector work properly,” Khánh said on Monday at a debate about the draft of amended Law of Insurance during the 14th National Assembly’s seventh meeting.
VIETNAM’S NON-CASH PAYMENT MARKET BOOMS IN Q1
The figures suggest that mobile transaction has turned more popular in Vietnam, in tandem with the Government’s push for the development of non-cash payment methods, according to the Payment Department under the State Bank of Vietnam.
TAX REDUCTION FOR MEDIUM-SIZED FIRMS MAY PROMPT UNFAIR COMPETITION: MINISTRY
If a corporate income tax reduction is proposed for micro, small and medium enterprises as a whole, nearly all enterprises will be subject to the incentive, which may lead to unfair competition among them, stated Nguyen Quoc Hung, deputy director of the Tax Policy Department under the Ministry of Finance.
CORDIAL DISCUSSION ON CURRENCY MANIPULATION RUMOURS
Deputy Prime Minister Vuong Dinh Hue last week arranged a phone call with US Treasury Secretary Steven Mnuchin to discuss a number of bilateral topics. High on the list was Vietnam’s currency and foreign exchange policy, which recently came into the spotlight as Vietnam ran the risk of being labelled as a “currency manipulator” by the US Treasury.
