Virgina Foote, a representative of AmCham Vietnam (Photo: danviet) Hanoi (VNS/VNA) - A draft regulation put forward by the State Bank of Vietnam (SBV) that would limit the foreign ownership rate in the payment intermediary service sector to 49 percent was discussed at a workshop in Hanoi on December 12. Legal experts, fintech and e-payment firms attended the workshop held by the Vietnam Chambers of Commerce and Industry (VCCI). The draft decree includes new policies on the legal synchronisation of cryptocurrencies, managing cross-border payment activities, providing non-account payment services, payment management, perfecting regulations for payment intermediary services, and foreign investment in payment intermediaries. Article 29 sets out the maximum percentage foreign investors can hold, including direct and indirect ownership, at 49 percent of charter capital of an intermediary payment service provider licensed by the State Bank of Vietnam. This article drew the most comments … [Read more...] about Fintech firms concerned about foreign ownership cap
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Vietnam’s airlines transport nearly 55 million passengers this year
Vietnam’s airlines have so far this year transported 54.7 million passengers and 435,000 tonnes of cargo, respectively, 11.4 percent and 7.6 percent higher than the figures last year. (Illustrative image. Source: VNA) Hanoi (VNA) – Vietnam’s airlines have so far this year transported 54.7 million passengers and 435,000 tonnes of cargo, respectively 11.4 percent and 7.6 percent higher than the figures last year, revealed Vo Huy Cuong, deputy director of the Civil Aviation Administration of Vietnam, on December 13. Speaking at a conference in Hanoi, Cuong further said as of last month, their fleet was 212 aircraft, 44 more than in 2018. This year also saw to presence of one more carrier, the Bamboo Airways. By the last day of November, their airlines had conducted over 295,000 flights, 9.4 percent more than 2018, of which 255,000 were on time and 699 cancelled. Bamboo Airways tops the list of punctuality with 94 percent, followed by Vasco, Vietnam Airlines, … [Read more...] about Vietnam’s airlines transport nearly 55 million passengers this year
Revised GDP increases by 25.4% for 2010-2017 period, GSO confirms
The size of Viet Nam’s revised gross domestic product (GDP) rose by 24.5% annually on average in the 2010-2017 period, reported Nguyen Bich Lam, Director of the General Statistics Office on Friday. GDP growth rates in 2011-2017 period With the revision, the country’s GDP increased from US$220 billion to US$275 billion in 2017 and surpass US$300 billion in 2019. The increase in GDP scale has lifted the size of Viet Nam’s economy by 935 trillion dong ($40.31 billion) per year, narrowing the gap between Viet Nam and its ASEAN neighbors. In the reviewed period, the highest and lowest increase was respectively recorded with 27.3% in 2011 and 23.8% in 2015, Lam said. The revised GDP share of sectors in 2010-2017 period The revision also shows changes in the country’s economic structure, with the GDP share of agriculture, forestry and aquaculture sector falling from 17.4% down to 14.7% while the GDP share of industry and construction and service … [Read more...] about Revised GDP increases by 25.4% for 2010-2017 period, GSO confirms
Ho Chi Minh City responds to World Population Day
The department took this occasion to announce the city’s population and reproductive health strategy for the 2016-2020 period, with increasing engagements of organizations and individuals in population and planning policies. Photo for illustration. It called for support from organizations and individuals in holding communications activities and training personnel, especially for 12,000 collaborators in communes, wards and residential areas. As part of the meeting, the department signed a cooperation memorandum of understanding with Thai Nakorn Patana Company Limited, under which the latter will provide affordable contraceptive pills for local residents. Lauded the efforts made by the local health body, Vo Thanh Dong, Deputy General Director of the General Office for Population and Family Planning, requested it to boost the quality of reproductive health in rural and mountainous areas and work harder to reduce abortion rate. In the 2011 -2015 period, Ho Chi … [Read more...] about Ho Chi Minh City responds to World Population Day
