The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) earned pre-tax profit of over 12.83 trillion VND (554.7 million USD) and revenue of 21.1 trillion VND (910.38 million USD), marking increases of 31.5 percent and 24.7 percent year on year, respectively.
Deputy Prime Minister and Foreign Minister Pham Binh Minh has said Vietnam pays special attention to its relations with Middle East and African countries, which have progressed in various areas over the past years.
The Ministry of Finance will tighten regulations over corporate bond issuance because of an overheating market to protect investors and prevent risks which might arise from the abuse of this capital raising channel.
Permanent Deputy Prime Minister Truong Hoa Binh held talks with Vice President and head of the Department of Economic Affairs, Education and Research of Switzerland Guy Parmelin in Geneva on January 20.
The recently signed US-China trade deal, an effort to calm trade tensions between the world’s two largest economies, will force Vietnamese businesses to grow in order to meet the challenges as well as the opportunities it brings, said economic experts.
Prime Minister Nguyen Xuan Phuc has asked for greater efforts from ministries, sectors, localities and enterprises to well prepare for the upcoming Lunar New Year (Tet) and take care of local residents in mountainous, remote and disaster-affected areas.
Vietnamese expatriates and businesses in Cambodia gathered at the Lunar New Year (Tet) celebrations in Phnom Penh on January 17, as the biggest Vietnamese traditional festival only about a week away.
Though Tet (Lunar New Year) is approaching with rising capital demands, the liquidity of the banking system is abundant, helping interest rates in the inter-bank market drop sharply, industry insiders said.
Vietnam has to spare no effort to achieve economic growth of 6.8 percent and keep inflation rate of below 4 percent in 2020 amid global political uncertainties, said the Vietnam Institute for Economic and Policy Research (VERP) at a workshop in Hanoi on January 16.
The increasing inflow of remittances ahead of the Lunar New Year has replenished the liquidity of the banking system, thus resulting in a steep fall in the interbank interest rates in January, according to insiders.
The State Bank of Vietnam (SBV) has been invited to become a member of the Bank for International Settlements (BIS), the first expansion of the prestigious international financial institution's central bank membership base since 2011.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) said it has reached the target of 1 billion USD in profit one year ahead of schedule.
Vietnam needs a “revolution in its policy-making mind-set” before it can take advantage of the fourth industrial revolution, said Pham Xuan Hoe from the Banking Strategy Institute, at a forum in Hanoi on January 7.
Japan's Aozora Bank plans to take a 15 percent stake in Vietnam’s Orient Commercial Joint Stock Bank (OCB) in April 2020, marking its first overseas deal since 2001.
Ho Chi Minh City is hopeful of mitigating its manpower shortage, especially in sectors related to the fourth Industrial Revolution, over the next few years since many local universities plan to launch majors in artificial intelligence and such streams starting in 2020-2021.
Despite many difficulties and challenges, the growth of private businesses will be the highlight of Vietnam’s economy in the long term, heard a forum in Ho Chi Minh City on January 6.
A report by securities firm SSI on the financial and monetary market says deposit interest rates are likely to be cut by 0.5- 1 percentage point this year, and lending interest rates would also be cut by at least 0.5 percentage points as required by the Government.
Cambodia lured more than 3.58 billion USD in foreign direct investment (FDI) in 2019, a year-on-year surge of 11.7 percent, with Chinese investment accounting for 43 percent of the total figure, according to the National Bank of Cambodia (NBC).
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