FOREIGNERS ACQUIRE TASTE FOR PROPERTY
Foreigners have been growing more interested in buying houses in Vietnam despite obstacles in ownership.
NGHI SON ECONOMIC ZONE TO BE EXPANDED
The total area of Nghi Son economic zone under planning will increase nearly tenfold to 106,000ha, including almost 66,500ha of land on the mainland and islands and over 39,500ha of sea surface.
FINANCE GOES HIGH-TECH
The 2019 Asian Financial Forum focuses on innovation, launching the new FinTech Showcase. Finance has been a pillar of Hong Kong’s economy for many years – visitors are always impressed by the glass towers of the Bank of China, HSBC and Bank of East Asia buildings which dominate the Central skyline.
DONATION FOR TRA LENG BOARDING HOUSE IN QUANG NAM PROVINCE
In 2018, much efforts were put into raising funds for a new boarding house, in which HKBAV has voted to donate USD $3,300 (VND75,000,000) for The Bunk Bed System to this integrated boarding house for ethnic minority students. In December 2018, the project is completed with the assistance from a number of corporate donors.
FOREIGN INVESTORS POURS $321 MILLION INTO VSIP QUANG NGAI
Four foreign companies will be injecting $321 million of new investments in VSIP Quang Ngai. The investment registration certifications were presented to the companies at the VSIP Quang Ngai Investors’ Gathering and Investment License Presentation event.
QUẢNG TRỊ GETS PM APPROVAL FOR $614 MILLION PORT PROJECT
The central province of Quảng Trị is going to build a seaport at a cost of VNĐ14 trillion (US$614 million) at local Mỹ Thủy Beach in an attempt to boost development of the province’s key economic zone.
LARGE BANKS CONCERNED ABOUT RAISING CAPITAL
According to the National Financial Supervisory Commission (NFSC), the average capital adequacy ratio (CAR) of the credit institution system in 2018 has reached 11.1 per cent thanks to the 12.2 per cent surge in owner’s equity capital and a 10.8 per cent rise in total risk weighted assets. Regulatory Tier 1 capital to risk weighted assets has thus been calculated at 8.8 per cent for 2018, a higher ratio than 2017’s 7.8 per cent.
CASH WITHDRAWAL LIMIT IN FOREIGN COUNTRIES SET AT VNĐ30 MILLION
Commercial banks have to adjust the limit of cash withdrawals in foreign currency abroad to the maximum equivalent of VNĐ30 million (US$1,280) per day for international credit and debit cards from early this year to meet a central bank regulation.
