Business News

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SEASON GREETINGS AT LOTTE HOTEL SAIGON _ DECEMBER 2022

We invite you to be part of our festivities. Join us for a festive season to remember and create ever-lasting memories with your loved ones. Our Festive season will not end after Christmas, there's more awaiting you on New Year's Eve and beyond. LOTTE HOTEL SAIGON wishes you an exquisite Christmas and a Happy New Year!

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INTELLASIA FINANCE & BUSINESS NEWS - DECEMBER 06, 2022

1. Vietnam firms cut foreign currency loans 2. Restructuring to boost M&A in banking industry 3. Undervalued banks winning bet for investors 4. Slower consumption and prospect of growth in 2023 5. Vietnam's Rail Network: Slow Train Headed for Fast-Track? ----and more news

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DEPOSIT RATE HIKES STILL LINGERING

Banks continue to increase their deposit rates to relieve liquidity constraints at year-end. On November 22, Hanoi-headquartered commercial lender Techcombank applied a new deposit interest rate chart, with the new rate inching up 30 basis points per year for six-month terms and beyond compared to the previous chart.

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INFOGRAPHIC SOCIAL-ECONOMIC SITUATION 11/2022

The monthly statistical data presents current economic and social statistics on a variety of subjects illustrating crucial economic trends and developments, including production of agriculture, forestry and fishery, business registration situation, investment, government revenues and expenditures, trade, prices, transport and tourism and so on.

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VIETNAM’S TRADE VALUE NEARS US$650 BLN AS OF NOV 15

Vietnam's export value totaled US$326.68 billion in the year to November 15, representing a year-on-year growth of 14.83% or an addition of US$42.2 billion, compared to US$284.48 billion in the same period of 2021).

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CUSTOMS SECTOR: EFFORTS FOR MAJOR BREAKTHROUGHS IN SIMPLIFYING ADMINISTRATIVE PROCEDURES

The National Single Window (NSW) has brought about positive changes in the settlement time of administrative procedures. However, changes are varied among procedures and there are no major breakthroughs in simplifying administrative procedures and reducing costs for businesses.

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98% OF INVESTMENT ATTRACTION PLAN IN 10 MONTHS

According to the report by Vinh Phuc Industrial Park Authority, in 10 months of 2022, industrial parks (IPs) in the province attracted 21 new FDI projects and 28 capital increases for a total investment capital of US$292.6 million, reaching 98% of the year plan. The province attracted 14 new DDI projects, with a total registered capital of VND2,261.58 billion, reaching 323% of the plan in 2022.

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GOVERNMENT TO DIVEST 141 STATE-OWNED ENTERPRISES BY 2025

Deputy Prime Minister Le Minh Khai has signed a decision on the plan to reorganise state-owned enterprises with state capital for the 2022-2025 period. The decision was made after a lull of equitisation and divestment over the past three years due to the impacts of the pandemic.

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VIETNAM’S DRAFT E-TRANSACTION LAW AND THE HIGHLIGHTS WITHIN

The current Vietnamese Law on E-transactions 2005 is based upon the model Law on E-Commerce, which is outdated, and its terms are difficult to apply in practice. Meanwhile, e-commerce transactions are increasingly developing due to changing user demands and habits since the COVID-19 pandemic.

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