Business News

[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.

[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.

[12-09-2016] Making an entrance into the Vietnamese banking landscape as representative offices, then moving up the ladder to become branches and 100 per cent foreign-owned units when the right time came and regulations allowed, Japanese and Korean financial institutions are taking careful steps to strengthen their footholds in the country. Not only do they want to cater to their home-based institutional clients, but also to the 90 million possible retail customers living in Vietnam. Trang Nguyen reports.

[08-09-2016] Foreign banks are increasing their presence in Vietnam through various forms by establishing 100% foreign-owned banks or opening branches. With advantages of capital and services, once the Trans-Pacific Partnership (TPP) takes effect, foreign banks will have more advantages in Vietnam.

[12-09-2016] In a joint effort to promote the application of international standards on business integrity to enhance international integration and improve business environment in Vietnam, VBF Governance and Integrity Working Group (“G&I WG”) in conjunction with Towards Transparency (“TT”) are carrying out a study of companies’ experiences of risky business practices in Vietnam (the “Study”). The Study will assess companies’ experiences of high risk business activities.

[08-09-2016] VIETNAM CEO FORUM is a national annual event co-organized by 4 top business associations and clubs in Ho Chi Minh City: the Young Business People Association of Ho Chi Minh City, Leading Business Club, 2030 Business Club and the Business Association of High Quality Vietnamese Products.

[06-09-2016] The Vietnamese Representative Office of Hanjin Shipping Global, South Korea’s giant container shipping company, announced that it would not accept any new booking of freight orders from August 31. According to the Ministry of Industry and Trade, bankruptcy of the Hanjin shipping line would possibly affect local businesses’ export and import shipping and receiving activities.

[05-09-2016] The free trade agreement (FTA) between the Eurasian Economic Union (EAEU) and Vietnam will take effect on October 5, Minister for Trade at the Eurasian Economic Commission Board Veronika Nikishina has said.