INSURANCE INDUSTRY HITS GROWTH OF 24% IN H1
Việt Nam’s insurance industry achieved high year-on-year growth of 24.35 per cent in the first half of 2018, helping total revenue to reach more than VNĐ58.65 trillion (US$2.55 billion).
BANKS HIKE INTEREST RATES OF HOME LOANS
Most of the local banks have further tightened credit for the real estate sector by raising the annual interest rates for home loans by one to two percentage points compared with earlier this year, leading the sector to slow down, reported Sai Gon Giai Phong newspaper.
VIETNAM HOTEL MARKET ATTRACTS FOREIGN INVESTORS
The hotel market has been growing quickly, with the number of projects developed by foreign investors and managed by foreign brands increasing from 30 in 2010 to 79 by the end of 2017.
VCCI PROPOSES END TO MINIMUM WAGE HIKES FROM NEXT YEAR
The Vietnam Chamber of Commerce and Industry (VCCI), representing employers in the nation, has suggested keeping region-based minimum wages unchanged from next year as annual minimum wage hikes place a heavy burden on enterprises.
CREDIT INSTITUTIONS’ FUTURE BRIGHT
A majority of credit institutions in the country expect an upward trend in their business in the remaining months of the year, after making improvements in the first half of 2018, according to a survey released last week by the State Bank of Vietnam.
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TRAFFIC CONGESTION CAUSES IMPORT-EXPORT TAX REVENUE TO DROP
The tax revenue from import-export activities of HCMC in the first half of the year dipped by 4.8% year-on-year to VND50.02 trillion (US$2.2 billion), which is partially attributed to the severe traffic congestion at seaports that causes cargo throughput to fall.
NEW POLICIES EFFECTIVE FROM JULY 2018
Valuating assets and examining damage in the State’s compensation liability; increasing basic salary; supporting enterprises with projects in the lines of technology transfer are among the newly issued policies that take effect in July 2018.
