VietNamNet Bridge - Nam A Commercial Joint Stock Bank on February 26 signed a business cooperation agreement with eLoan, an online crowd-funding and investment marketplace, in HCM City. eLoan owns and operates https:/eloan.vn, an online loan based crowdfunding marketplace, which provides short-term working capital needs for small and medium enterprises (SMEs) based on trade receivables by presenting their financing terms to registered investors who can then select to lend according to their financial capacity. Under the newly-signed agreement, Nam A Bank and eLoanwill jointly collaborate on both product and business developments to offer assurance and benefits to investors and borrowers. Accordingly, investors will be able to manage their investment in a more secure and transparent manner. Borrowers will receive funding more quickly as well as a more efficient repayment process. Furthermore, eLoan will be able to utilize payment guarantee services by Nam A Bank, providing investors … [Read more...] about Nam A Bankinks partnership agreement with eLoan
Overseas online loans
A report from the Ho Chi Minh Securities Company shows that bank interest rates have risen by 0.46 percentage points for short-term loans since the end of last year to 7-9 per cent and to 9-12.5 per cent for medium- and long-term loans. — Photo vietnambiz.vn A report from the Ho Chi Minh Securities Company shows that bank interest rates have risen by 0.46 percentage points for short-term loans since the end of last year to 7-9 per cent and to 9-12.5 per cent for medium- and long-term loans. The report named lenders such as Agribank, Military Bank, Sacombank, VP Bank and ACB as adjusting their rates upwards in the last two months. The interest rate hikes are said to be the first sign of the central bank trying to reduce money supply to fight inflation. According to experts from the Ministry of Planning and Investment’s National Centre for Socio-economic Information and Forecast, inflation and exchange rates remain under control but are under great pressure, and so prudent … [Read more...] about Tight monetary policy: where can businesses find funds?
The upcoming Vietnam Digital Economy Forum (VDEF) 2018 will include special sessions which focus on Vietnam’s digital economic perspectives, featuring local and international keynote speakers. The VDEF 2018, whose theme is “Challenges and strategic solutions for small- and medium-sized enterprises (SMEs) in the Fourth Industrial Revolution,” will take place on Thursday, November 1, at the Rex Hotel in District 1, HCMC. The forum is co-sponsored by the Association of Vietnam Scientists and Experts, and Quang Trung Software City, as well as by the HCMC People’s Committee. Some 20 policy makers and leading experts at home and abroad from the digital economy industry, together with 500 guests from ministries, organizations and enterprises, are expected to join this event. The Fourth Industrial Revolution has been impacting the structures that make up the foundations of the global economy and society. Every day, millions of people benefit from innovative products and … [Read more...] about BUSINESS NEWS IN BRIEF 1/11
Wrong side of the right wayBy Son Nguyen Criticisms and skepticisms are overwhelming following a decision by Can Tho City’s government this week to slap a heavy fine on a resident for exchanging a US$100 bill at an unauthorized money changer although all related sides agree that the punishment is in strict compliance with prevailing regulations. Calls for amendments to the rule are surfacing like ripple effects across the society, as people from all walks of life are of a consensus that legal provisions contained therein are unenforceable. Simply put, it is wrong. The news broke when it was learned this Tuesday that Can Tho City had issued a decision imposing a fine as much as VND90 million, or roughly US$4,000, on a local resident identified as Nguyen Ca Re for selling the U.S. banknote at Nhan Dat Jewelry Thao Luc Shop in Ninh Kieu District. The gold trader itself was also imposed a fine of VND180 million for the illegal act, plus nearly VND90 million on other business … [Read more...] about Wrong side of the right way
Budget, zero-dong tours in need of tighter controlThe Saigon Times Daily Passengers are seen at Danang International Airport in the central coast city of the same name. Budget and zero-dong tours in Vietnam are in need of tighter control from local authorities and relevant agencies, said the VNAT chief - PHOTO: DAO LOAN HCMC - Budget and zero-dong tours in Vietnam are in need of tighter control from local authorities and relevant agencies as they are showing signs of fraud, tax evasion and sales of products without clear origins to tourists. Nguyen Van Tuan, head of the Vietnam National Administration of Tourism (VNAT), mentioned this measure in Lao Dong newspaper. Such tours could adversely affect the image of popular destinations across the country as well as visitors’ interests in the long run, he noted. Addressing a regular press briefing of the Ministry of Culture, Sports and Tourism, held on October 16, Tuan voiced concerns over the drawbacks of zero-dong … [Read more...] about Budget, zero-dong tours in need of tighter control