Vietnamplus

A consistent legal framework related to tax deductions, land allocations and credit programmes is needed to support small- and medium-sized enterprises (SMEs), experts have urged.

Prime Minister Nguyen Xuan Phuc joined leaders of other ASEAN member states and President of the Republic of Korea (RoK) Moon Jae-in at the second session of the ASEAN-RoK Commemorative Summit in Busan on November 26.

The Vietnam-Hungary Friendship Association (VHFA) of Hanoi aims to promote its role as a bridge in economic, cultural, sport and tourism cooperation between the two countries and their capital cities during the 2019-2024 tenure.

There is still much untapped potential for cooperation in agriculture, aquaculture and food processing between Vietnam and Cambodia, Oknha Leng Rithy, a senior advisor to the Cambodian Government, told a seminar in Ho Chi Minh City on November 22.

Domestic banks forecast that the lending interest rates would drop in line with the government’s policy to support production and business activities of enterprises.

Wood and wooden furniture have become one of Vietnam’s key export staples in recent years. However, the domestic market is developing strongly and it should be fully tapped.

The State Bank of Vietnam (SBV) slashed interest rates for the second time since September.

To attract foreign investors to the Thai capital market, the Securities and Exchange Commission (SEC) has arranged for four financial technology (fintech) companies in Thailand to display their products and services at the Singapore FinTech Festival (SFF) 2019.

The average tax incentive for each major enterprise is currently tens of times higher than that for other groups of businesses in the economy, an expert has said.

Cooperation between the State, scientists, commercial banks and enterprises is needed to strengthen the development of Ho Chi Minh City’s key industrial products, a city official said at a seminar held on November 7 by the municipal Department of Industry and Trade.

With a total market value of 4 billion USD back in 2015, e-commerce in Vietnam rose drastically to 7.8 billion USD in value in 2018, and is expected to continue on an upward trend.

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank, HOSE: HDB) has reported impressive results in the third quarter of this year, with pre-tax profits increasing by a record 51 percent year-on-year to over 1.23 trillion VND (53.4 million USD).

Building the correct legal framework is one of the major challenges holding back start-up businesses and now the Government is looking at easing red-tape and giving an easier ride to both young companies and the private sector.

Prime Minister Nguyen Xuan Phuc’s participation in the 35th ASEAN Summit and related summits in Bangkok, Thailand, from November 2 to 4 is set to demonstrate Vietnam’s efforts to join hands with other members to enhance the bloc’s solidarity and relations with partners.

Cross-border e-commerce whets the appetite of millions of Chinese consumers for Thailand’s fresh fruits, including “Monthong” durian, which is not easy to find in the Chinese market when cross-border e-commerce didn’t rise between China and Thailand, according to an article run by Xinhua news agency.

Food and beverage and fashion and lifestyle will continue to drive demand in Ho Chi Minh City’s retail property market, according to real estate consultancies.

The Hanoi People’s Committee has recently greenlighted a 312 billion VND (13.5 million USD) project to support startup and innovation in the capital city during 2019-2025.

Vietnam has been recording strong development in e-commerce, through which businesses will have more chances to promote export, an official said at a workshop in Hanoi on October 18.

Vietnam’s credit growth is slowing and can fall behind the central bank’s target of 14 percent for 2019, causing concerns that it could make it difficult for businesses to access bank loans during the remaining months of the year.

Prime Minister Nguyen Xuan Phuc stressed on October 15 that the Government will take more drastic actions to protect the environment, including returning imported containers of waste to their source countries.