HCM CITY BANKING SECTOR SETS HIGH GOALS FOR 2017
[18-01-2017] Strong efforts from the HCM City banking industry are needed to complete its mission in 2017, a high-ranking official has said. Speaking at a conference held yesterday in HCM City, chairman of the city’s People’s Committee Nguyễn Thành Phong said the “the banking industry for many years has been considered the blood vessel of the economy and one of the most important industries of the city”.
E-TAX RETURN TO BUSINESSES
[27-09-2016] 95 per cent of E-tax return will be implemented by the end of 2017. Modern taxation will be applied to facilitate businesses and tax payers.So far, over 550,000 among 552,000 businesses (99.6 per cent) have applied E-tax declaration and return. Over 33.4 million tax declarations among over 552,000 businesses have been submitted (95.7 per cent).
STATE FUNDS FOR BANK DEBTS PLAN CRITICISED
[21-09-2016] A proposal to use State funds to settle commercial banks' bad debts, as stated in the draft plan on economic restructuring for the 2016-2020 period, has been met with a cold shoulder. Under the plan drafted by the Ministry of Planning and Investment, the feasibility of the proposal is to be studied by the Ministry of Finance and State Bank of Viet Nam.
GOV'T URGED TO INSTALL TECHNICAL BARRIERS TO FILTER FDI PROJECTS
[21-09-2016] Consultants and experts have recommended that Vietnam take measures to prevent foreign-invested projects from using outdated technologies, causing pollution and consuming national resources. Nguyen Mai, chair of the Vietnam Association of Foreign Invested Enterprises (VAFIE), said Vietnam should stop licensing projects in three business fields.
STATE BANK STEPS IN TO REDUCE LENDING RATES
[19-09-2016] The State Bank of Vietnam (SBV) has made further efforts to reduce lending rates and strengthen support for businesses. According to SBV Deputy Governor Nguyen Thi Hong, maintaining interest rates stability is seen as a difficult task, given forecast for higher inflation.
VIETNAM TARIFFS FOR ASEAN IMPORTS GO INTO EFFECT
[19-09-2016] Vietnam’s new import tariff, part of the ASEAN Trade in Goods Agreement (ATIGA) for 2016-18, has come into force. Decree No 129/2016/ND-CP, which was issued on September 1 and took effect the same day, states that the tariff is to be applied to goods directly transported from exporting countries into Vietnam.
BANKS€™ RISK MANAGEMENT A CAUSE FOR CONCERN
[12-09-2016] Poor management of risks and weak supervision of banks were the roots of the largest problems that Việt Nam’s banking system is facing, experts said during a workshop. The conference was held late last week, and sponsored by the National Economics University’s School of Banking and Finance.
BANKS RAISE DEPOSIT RATES AHEAD OF SBV RULES
[13-09-2016] Many commercial banks have recently raised their deposit interest rates in an attempt to satisfy new State Bank of Việt Nam’s regulations that are due to take effect in 2017. Under Circular 06/2016/TT-NHNN, commercial banks will have to lower the ratio of short-term funds used for medium and long-term loans from 60 per cent to 50 per cent from January 1, 2017 to December 31, 2017.
