Business News

[22-02-2016] Circular No. 59/2015/TT-BLDTBXH, dated December 29, 2015, details and provides guidance on the implementation of provisions of the Social Insurance Law on Compulsory Social Insurance, which contains numerous new regulations regarding sickness and the maternity regime.

[23-02-2016] The Summary of Annual Vietnam Business Forum (VBF) taking place on December 1st 2015 in Hanoi under the co-chairing of H.E. Bui Quang Vinh, Minister of Planning and Investment; Mrs. Victoria Kwakwa, Country Director of the World Bank in Vietnam; Mr. Kyle F. Kelhofer, Regional Manager of International Finance Corporation (IFC); Ms. Virginia B. Foote, Co-Chairman of VBF Consortium. H.E. Vu Van Ninh, Vice Prime Minister attended and steered at the Forum.

[17-02-2016] The State Bank of Viet Nam (SBV)'s recent proposals on tightening lending rules would benefit local banks, the rating agency Moody's said on Monday. The SBV early this month issued a request for comment on its amendments to Circular 36, which would set stricter rules on asset-liability management and on providing credit to the real estate sector.

[16-02-2016] Loans pouring into the real estate sector are expected to be tightened given that the sector is said to be experiencing robust growth. In a draft document issued by the State Bank of Viet Nam circulated for the opinion of financial institutions, the risk index of receivable lending for real estate and securities might be raised from 150 per cent (the lowest level) as stipulated in Circular No 36, to 250 per cent.

[12-02-2016] The Asia Commercial Bank (ACB) will be the latest bank to join the wave of mergers among commercial banks and finance companies that is expected to become a major trend this year.

[13-02-2016] US capital continues flowing into Vietnam in anticipation of the opportunities to be brought by TPP (Trans Pacific Partnership) and other free trade agreements (FTAs). Just after six months after opening, a bonded warehouse in Long Binh Industrial Zone in Dong Nai province is at full capacity. It supplies dyes and chemicals, and is run by Huntsman Textile Effects.

[13-02-2016] Viet Nam aims to achieve annual average economic growth of 6.5 per cent to 7 per cent through 2020, striving to turn itself into an advanced industrial country soon, according to the Resolution of the 12th National Party’s Congress.

[11-02-2016] The recovery of the property market along with many open policies and incentives have created favourable conditions for real estate corporations with strong financial resources. Novaland, for example, a well-known investor, has been involved in many merger & acquisition (M&A) deals in the real estate market in recent years.