According to the General Statistics Office, international visitors to Vietnam in August reached 16,300 arrivals, an increase of 16.9 per cent compared to July. However, for the eight months of this year, the number of tourists coming to Vietnam only reached nearly 3.8 million arrivals, 66.6 per cent lower than the same period last year. Tourism revenue in the eight months also fell sharply by 54 per cent over the same period in 2019. … [Read more...] about Exhausted finances put hotels on sale
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IFC loans to VPBank and OCB to boost finance for local businesses
As part of its COVID-19 fast-track financing support package, the IFC is providing VPBank with $100 million and OCB with $40 million in one-year renewable senior loans. The funding will provide the two banks with additional liquidity to continue lending to businesses as these banks are offering payment relief to their borrowers at the same time. … [Read more...] about IFC loans to VPBank and OCB to boost finance for local businesses
SBV tells banking industry to develop an inclusive finance system
SBV’s deputy Nguyen Kim Anh told the industry's conference on the action plan to serve the national financial strategy to 2025 that: “The inclusive finance system needs to specify vulnerable groups, helping them access the financial system in a favourable manner.” … [Read more...] about SBV tells banking industry to develop an inclusive finance system
Vietnam finance ministry proposes raising VAT from 10 to 12 percent
According to the finance ministry’s announcement on Tuesday, the amended VAT law would impose a six-percent VAT on services and goods currently enjoying a VAT of five percent, and raise the across-the-board ten-percent VAT to 12 percent. … [Read more...] about Vietnam finance ministry proposes raising VAT from 10 to 12 percent
Citi Vietnam named Best Corporate Digital Bank 2020 by Global Finance
“Our investments in digital technologies have proven to be critical as the pandemic accelerates digital adoption among our client base. Through these capabilities, we have been able to continue effectively supporting our clients and their business operations during this time,” said Rajesh Mehta, Asia-Pacific head of Treasury and Trade Solutions, Citi. “We remain committed to being the preferred digital platform for digital commerce and continue to expand our digital banking infrastructure to support clients now and for the future.” … [Read more...] about Citi Vietnam named Best Corporate Digital Bank 2020 by Global Finance
