Vietnam economic growth

Interest rate cuts weighed for borrowers affected by coronavirus Vietnam’s central bank has asked commercial banks to promptly adopt measures to support their customers in the wake of the coronavirus outbreak, including rescheduling repayments and revising down interest rates.   … [Read more...] about Vietnam advised to ‘loosen monetary policy in cautious manner’

EVFTA is a new generation FTA between Vietnam and the 28 EU member states and a comprehensive, high quality agreement that ensures balanced benefits for both Vietnam and the EU in line with WTO regulations. Vietnamese and EU leader announced the finalization of EVFTA negotiations in 2015. … [Read more...] about PM Phuc chairs meeting on Vietnam-EU trade cooperation

Hanoi (VNS/VNA) - An equity crowdfunding platform is being established to boost the development of start-up firms. Prime Minister Nguyen Xuan Phuc has asked the Ministry of Finance to develop a plan before 2021. The request was highlighted in the Prime Minister’s Directive No 09/CT-TTg issued recently about creating favourable conditions for start-up firms. The directive said there were many limitations and difficulties in the start-up ecosystem, which made Vietnam less competitive than other countries in the region. The problems lie in business prerequisites which did not match Industry 4.0, lack of investment in research and development, limited financial support from the Government and the shortage of a legal framework for the operation of new services. The Prime Minister asked the Ministry of Planning and Investment to review the Law on Investment to create favourable conditions for foreign investors to found, contribute capital and buy … [Read more...] about Equity crowdfunding platform to boost start-up development

Vientiane (VNA) – Deputy Prime Minister and Foreign Minister Pham Binh Minh on February 20 suggested that the Mekong-Lancang cooperation (MLC) should contribute to consolidating coordination between countries in handling regional challenges and bringing about long-term benefits for people. The mechanism should aim for strengthening the economy’s resilience in the face of uncertainties, Minh said at the fifth MLC Foreign Ministers’ Meeting in Vientiane, Laos. He emphasised the need to focus resources on vulnerable sectors and those that serve as economic engines of member countries. He elaborated that in agricultural cooperation, it is necessary to focus on raising technology capacity for businesses, and improving market stability and confidence for farm produce. Minh also pointed to the severe drought in the Mekong River Basin that requires relevant countries to take drastic actions to ensure the river’s sustainable development. He proposed intensifying … [Read more...] about Mekong-Lancang cooperation contributes to addressing regional challenges

In order to attract more investment from the European Union in the future, we encourage the Government to go further and faster on this path of reform. In our annual Whitebook, now in its 12th edition, we share the insights and recommendations of our more than 1,000 members. This report outlines concrete, sector-specific solutions to the challenges that international businesses face, which – if implemented – will help attract even more foreign investment in the future. Some examples include maintaining a competitive tax environment by not increasing the Special Consumption Tax on wines and spirits, improving and streamlining the regulatory framework around public-private partnerships and improving arbitration. … [Read more...] about Predictable, friendly business environment needed: EuroCham chairman