Tien Phong Joint Stock Commercial Bank (TPBank) is targeting pre-tax profit growth of 5 per cent on-year to VND4.07 trillion (US$174.2 million) in 2020, lower than previously forecast, on worries that the economy is suffering from the global COVID-19 pandemic. … [Read more...] about TPBank sees small profit gain, capital hike in 2020
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The Ministry of Culture, Sports and Tourism recently launched a programme entitled “Vietnamese people travel Vietnam”, aiming to attract the proactive participation of localities, airlines and travel enterprises to rejuvenate the domestic tourism market, while ensuring regulations on epidemic prevention and control for tourists, employees and community are abided by. With an implementation period of June 1 to December 31, the programme focuses on these key tasks: promoting attractive destinations and products; building and developing high-quality stimulus packages together with reasonable prices, the collaboration and cooperation and high level of commitment of service providers offering package deals or other services.. … [Read more...] about BUSINESS NEWS HEADLINES MAY 28
Sendo’s strategy is rural-centric while Tiki targets the urban area. The combination is expected to help the two sides focus on the market more comprehensively, according to local insiders. The merger could also help them to raise more funds in the future. … [Read more...] about Will Vietnamese e-commerce platforms Tiki and Sendo soon merge?
According to economists, although online payments have increased sharply over recent times, they have still not completely replaced cash transactions, which have existed for a long time in Vietnam’s social system. Specifically, statistics show that, although there has been significant growth, the proportion of the Vietnamese population with a bank account is still low and concentrated mainly in urban areas. In rural areas, where 70% of the population is found, the proportion of people having a bank account is very low. Meanwhile, according to current regulations, e-wallet account owners who want to activate the service must link to a bank account. As a result, online payment transactions have only increased locally in urban areas. … [Read more...] about COVID-19 a boost for Vietnam’s fintech
On the other hand, many said debt collecting is a legitimate demand of society and should be allowed to operate provided firms could meet all requirements and follow a code of conducts set by law. A set of rules to oversee firms' activities was needed to prevent similar incidents from taking place, according to lawmakers. … [Read more...] about BUSINESS NEWS HEADLINES MAY 29