FOREIGN BANKS MAY RETURN SOON
The completion of the sale of Vietcombank stake to foreign buyers in early 2019 and of BIDV at the end of last year may bode well for a comeback of foreign banks to Vietnam in 2020
HCM CITY TO IMPLEMENT E-TAX SYSTEM FROM FEBRUARY 10
According to the State Bank of Việt Nam, promoting online payment for public services is one of the goals of the Government. Previously enterprises had to pay tax at the Treasury or a bank, take the payment receipt to customs authorities and wait.
VIETNAM TO DEVELOP SEAPORT PLANNING
Most importantly, seaport development planning must be based on the evaluation of the connectivity of seaports throughout the country, with seaports in other countries, with other transport infrastructure (road, railway, airport and in-land waterway system), with urban areas, economic zones, tourism zones, industrial zones and logistics centre.
IN STYLE - HONG KONG MANILA, THE PHILIPPINES (5-6 MARCH 2020)
In Style • Hong Kong 「時尚潮流．魅力香港 - a large-scale signature promotion campaign organised by the Hong Kong Trade Development Council (HKTDC) with an aim to highlight Hong Kong’s vibrant and unique lifestyle and creativity, and present our world-class services, which together have established Hong Kong as a leading trendsetting city in the region.
DONG NAI WANTS TO TRANSFORM BIEN HOA 1 INDUSTRIAL PARK INTO SMART CITY
The plan to change the land use purpose of Bien Hoa 1 IP has been delayed for 10 years now because parties failed to negotiate a roadmap for compensation. The initial plan, under which the province was to shut down the IP by 2020, has failed after complications in administrative procedures. The province estimated that it may take VND15 trillion ($652.17 million) to switch the function of the IP.
REAL ESTATE CREDIT UNDER CONTROL
Property firms have mobilized capital from the corporate bond market. In January-November last year, these firms raised over VND71.3 trillion from corporate bond sales, accounting for 34.5% of the total corporate bond value and equivalent to 15.4% of the outstanding loans for the real estate business in 2018, according to SSI Securities Corporation.
LUXURY HOTEL SEGMENT SEES SHARP EXPANSION
According to a Savills Viet Nam quarterly report, with no new hotels opening in HCM City in the fourth quarter last year, the three- to five-star segment ended the year with 125 hotels and more than 15,900 rooms.
FOOD FEST TO PROMOTE SAIGON’S CHINESE CULTURE
The ‘Cho Lon-Food Story’, to be held at Van Lang Park on Hong Bang Street in District 5, will be a joint effort by authorities in District 5, home to the largest Chinese community in the city, ride-hailing firm Grab and tourism consultancy Outbox Consulting.
