SURVEY ON TAX AND CUSTOMS ISSUES: PREPARATIONS FOR 2024 DIALOGUE CONFERENCE
As part of its annual program and efforts to reform administrative procedures, Vietnam Chamber of Commerce and Industry (VCCI) will partner with the Ministry of Finance to host a national dialogue conference. This event will focus on tax, customs policies, and administrative procedures to address business challenges in 2024.
PRICE SO LOW –DON’T BE SLOW
SUPER PROMOTION: discount up to 15% on food at Jade Palace – Chinese Cuisine
Including buffet dimsum and menu alacarte. Apply from now until the end of August 31
The ideal, cozy dating location for family, friends or colleagues, not to be missed
VIET NAM’S E-COMMERCE MARKET BOOMING
Viet Nam's e-commerce sector is growing robustly, becoming a vital component of the country's digital economy. Retail e-commerce sales have increased at an average annual rate of 20 percent over the past decade, placing Viet Nam among the fastest-growing e-commerce markets globally and regionally.
GROUNDBREAKING CEREMONY MARKS LAUNCH OF READY-BUILT FACILITY SPECTRUM NGHE AN
Soilbuild International, an established real estate company from Singapore, has achieved a significant milestone in its expansion into the Vietnamese market. On August 1st, 2024, the company successfully held the groundbreaking ceremony for the Ready-Built Facility Spectrum Nghe An at Lot B1&2, WHA Industrial Zone 1 (Phase 2), Nghi Dong commune, Nghi Loc district, Nghe An province.
BANKS UNDER PRESSURE TO INCREASE CHEAP CAPITAL SOURCES
The cheap capital sources have become more important for banks when they have to reduce lending interest rates to boost credit growth, while still having to increase savings interest rates to lure depositors for the past three months. In this context, the cheap capital helps banks reduce lending rates to increase competitiveness while still maintaining high net interest margins (NIM).
DEPOSITS FLOWING BACK INTO BANKS
Deposits in the banking system are increasing in tandem with rising interest rates, amid a crisis in risky asset investment channels. According to the financial reports of banks for the first half of 2024 released in the past week, Vietnam's four largest state-owned commercial banks hold the highest customer deposit amounts, totalling approximately $267 billion.
BINH DUONG REALTY MARKET ENTICES INVESTING INFLUX
In the year to date, the southern province of Binh Duong has enticed a string of foreign-led projects into its realty market, focusing on the mid-income customer segment. In early August, TT Capital Investment Corporation and two Japanese partners - Cosmos Initia and Koterasu Group - agreed to develop affordable housing line in Binh Duong province and surrounding localities.
HONG KONG TO FACILITATE LISTINGS FOR VIETNAMESE COMPANIES
Hong Kong is exploring opportunities to strengthen bilateral ties across various industries, particularly focusing on the financial market. Bonnie Y Chan, CEO of Hong Kong Exchanges and Clearing (HKEX), talked to VIR's Luu Huong about how Hong Kong can share its expertise in developing financial centres and facilitate overseas listings of Vietnamese and other Southeast Asian companies.
