Vietcombank’s completion of the sale of shares to foreign investors in early 2019 and BIDV’s action in late 2019 are expected to help attract foreign banks to Vietnam. Vietnam’s commercial banks have been told to list shares on the bourse by 2020 at the latest, under a banking development strategy by 2025. The banks are actively looking for foreign strategic partners to sell shares to before the official listing. … [Read more...] about Foreign banks returning to Vietnam
Joint stock commercial bank for foreign trade of vietnam
Banks ease credit access to help pandemic-hit businesses
Dr. Nguyen Tri Hieu, adviser of the Board of Directors of the National Citizen Commercial Joint Stock Bank (NCB), said some central banks around the world have reduced their interest rates in order to support the economy. In Vietnam, lower deposit interest rates result in lower lending rates, helping businesses and the economy overcome obstacles. Deposit rates may continue to decline but will not decrease sharply because banks have to attract cash flows for savings. … [Read more...] about Banks ease credit access to help pandemic-hit businesses
Banks, stock exchanges maintain operations normally
The State Bank of Vietnam ordered affiliated credit institutions and enterprises to actively arrange employees following their pandemic prevention and control plans and scenarios. However, they must ensure meeting the demand for essential banking services of people, especially ensuring the continuous operations of online banking services and ATMs. The heads of credit institutions should proactively notify local authorities of places that need to maintain operations and organize transactions to meet the essential needs of people and the economy. The Information and Technology Agency also appoints employees to take turns to ensure the smooth operation of electronic banking and electronic wallets so that people can make payments without using cash to limit going out. The SBV-HCMC Branch affirmed that the banking system has enough cash to serve daily spending needs of people and enterprises, at the same time recommended that people should not take too much cash home as it might cause … [Read more...] about Banks, stock exchanges maintain operations normally
Vietnam’s IT and finance catching South Korean attention
Technology is filling up empty spaces, Mr. Lee from GS Shop commented, creating more advanced industries and growing them rapidly. People in Vietnam can open their first bank account and take out their first loan via a mobile bank, not a branch. P2P lending and e-wallet services also make financial services available without a bank. … [Read more...] about Vietnam’s IT and finance catching South Korean attention
Vietnam joins online int’l trade fair of medical products
Hanoi (VNA) – The Vietnam Trade Promotion Agency (VIETRADE) and 20 domestic producers have recently attended an online international trade fair hosted by China to promote products for COVID-19 prevention and treatment. The event was organized by the China Council for the Promotion of International Trade in Sichuan (CCPIT Sichuan) on the online communication and collaboration platform Dingtalk. It gathered various manufacturers from China, Vietnam, Canada, Nepal, Bhutan, Sri Lanka, Uzbekistan and more. The participating Vietnamese companies were looking for materials, equipment and machines for production of medical supplies for the disease’s prevention and control. About 40 deals were signed between the Vietnamese and Chinese firms during the event. The VIETRADE is cooperating with relevant organizations to schedule more online trade fairs with China in a wide range of areas in the coming time./. … [Read more...] about Vietnam joins online int’l trade fair of medical products
