It support for small businesses

To concretise the Party’s resolution, the Government issued Resolution 98-NQ/CP on October 3, 2019 on a plan of actions to implement Resolution 10/NQ-TW. The Government defined concrete tasks to develop the private economic sector, focusing on three major policies: creating favourable environment for the private economic sector to develop; assisting the sector in innovation, technology modernization, human resources development and enhancement of productivity; and enhancing efficiency and effectiveness of State management. … [Read more...] about BUSINESS NEWS HEADLINES JAN. 21

Hanoi (VNA) - The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) announced a record consolidated pre-tax profit of 10.3 trillion VND in 2019 (447 million USD), exceeding 9 percent of the yearly plan and up 12.3 percent compared to 2018. With the result, VPBank has officially joined the list of the few banks with profit of over 10 trillion VND. The bank's total consolidated operating income last year reached 36.35 trillion VND (1.57 billion USD), an increase of 20.3 percent compared to the previous year. Consolidated credit growth reached 17.6 percent, higher than the average growth of the whole system. Deposit growth rate reached 23.7 percent compared to 2018, helping the bank ensure capital adequacy and expand business operations. VPBank attributed the record result to the breakthrough in the segments of consumer finance, individual customers and small and medium enterprises. Thanks to the exploitation of existing individual customer base and search for new … [Read more...] about VPBank announces record pre-tax profit in 2019

Hanoi (VNS/VNA) – Vietnam stood out as the world’s largest cashew exporter last year but there remains many challenges ahead for the country to retain its leading position in the future. The country shipped 450,000 tonnes of cashew abroad last year, earning more than 3.6 billion USD. Vietnam also imported 1.6 million tonnes of raw cashew with a turnover of more than 2 billion USD. Pham Van Cong, Chairman of the Vietnam Cashew Association (Vinacas) told Vietnam News the consumption and export of cashew nuts undergoing deep processing, such as salted/honey roasted nuts and cashew nut candies and cookies, witnessed sharp growth. “Vietnamese cashew enterprises have also been increasingly active in the supply of raw materials, production improvement and business efficiency enhancement,” Cong said. Last year, Tan Long Group signed a contract to purchase 176,000 tonnes of Tanzanian raw cashews from the 2018 season with Tanzania's … [Read more...] about Efforts to maintain Vietnam’s leading position in cashew export

National Assembly deputy Nguyen Nhu So of Bac Ninh province cited statistics that showed the non-State sector invested 624.6 trillion VND (approximately 27 billion USD on current exchange rate) into the economy in the first 9 months of 2019, up 16.9 percent year on year, and the highest among all economic sectors. The private economic sector also accounts for more than 40 percent of the GDP and creates 1.2 million jobs each year.  … [Read more...] about Breakthrough mechanisms, policies needed for private economic sector’s development

Like other developing nations, Vietnamese cities face an imbalance between the supply of available housing and satisfying the actual demand. This is a marked change from 10 years ago, when the median household size in urban Vietnam was between two and three generations. In order to provide for its inhabitants, a growing city is expected to cater to their basic needs, starting with affordable housing. … [Read more...] about Foreign investors ready to invest big in Vietnam housing