Financing smes and entrepreneurs 2018

Amazon shakes hands with T&T Group and SHB to boost cross-border e-commerce in Vietnam At the cross-border e-commerce workshop titled “Reaching the ocean” early this month, US-backed Amazon Global Selling officially announced its partnership with T&T Group and local bank SHB. However, there have been few recent days when SHB's stock closed higher than it began – on the contrary, it has been falling significantly. As of the end of the session on December 9, SHB was at VND6,100 ($0.26), lower than the VND6,800 ($0.3) in late June. Forecasting dim prospects for SHB, Saigon-Hanoi Insurance Corporation divested all of its capital worth VND55 billion ($2.4 million) in July. As a result, the tie-up with SHB may not be enough to move forward Amazon’s plans in Vietnam. Amazon started carrying out cross-border e-commerce in the market a few months ago by supporting local SMEs in improving their export performance. Specifically, on October 16, Amazon Global … [Read more...] about Partnership with SHB may be little aid for Amazon in Vietnam

At the teleconference (Source: VNA) Hanoi (VNA) - Measures to reach the growth target of 6.7 percent in 2018 were discussed at a teleconference between the Government and localities on July 2. According to Minister of Planning and Investment Nguyen Chi Dung, to realise the yearly goal, GDP must reach 6.53 percent in the third quarter and 6.36 percent in the final quarter. However, he noted that the national economy would face many challenges in the second half of 2018 as the main drivers of growth are not as clear as in 2017. Trade tensions are spreading among the US, China and the EU, bringing both challenges and opportunities to Vietnam’s economy. Vietnam can take advantage of opportunities to promote export or import of cheap goods, while accelerating the restructuring of imported material market to cope with new difficulties. Dung stressed the need to speed up the restructuring of the economy in the rest of the year, focusing on improving quality to increase the … [Read more...] about Measures sought for 6.7-percent economic expansion

Vietnam’s government has been praised for its economic and administrative development by the European Chamber of Commerce in Vietnam (EuroCham), an organization representing over 1,000 European businesses. “The chamber appreciates the continued constructiveness and openness of the government in understanding the essential role of businesses and treating them as partners in increasing trade, investment and economic development,” EuroCham stated in the 10th edition of its Whitebook. EuroCham praised the government for cutting over 5,000 administrative procedures and creating opportunities for small and medium-sized enterprises to enter the market.  “We can see positive changes and results in completing Vietnam’s regulations and law,” said Nicolas Audier, co-chairman of the chamber. The Whitebook also describes Vietnam as having one of the strongest economic growth rates in the world over the past two decades, with average annual GDP growth of 6.4 … [Read more...] about Vietnam’s business environment changing for the better: European commerce chamber