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Finally, as the standard of living is improving around Vietnam, the need for consumer durable loans and two-wheeler loans issued at the point-of-sale (POS) continues to grow steadily. FE CREDIT’s total loans at POS make up 9 per cent of the total loan book and grew nearly 10 per cent vs. the first quarter. It has captured the increase in market demand by boosting strategic partnerships with leading retailers who make up the bulk of the home appliances and two-wheeler sales in Vietnam. … [Read more...] about BUSINESS NEWS OCTOBER 11

With regard to the future prospects of the RECP, economists at a recent seminar titled ‘RCEP agreement – Negotiation Updates and Issues Concerned by Businesses’ said that the RCEP can be considered the world’s largest regional trade agreement with its market size being larger than that of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). … [Read more...] about BUSINESS NEWS OCTOBER 12

The concept of 7 Bridges Brewing Company formed in the summer of 2016 and R&D started in September 2016. During that time, the founder was brewing test batches aiming for commercial production, which commenced in April 2017 once the license was issued. R&D is a key element of its business model and involves constant re-investment in production systems, sales outlets, and product recipes. … [Read more...] about VIETNAM BUSINESS NEWS HEADLINES OCTOBER 13

Speaking at the event, Permanent Vice Secretary of the provincial Party Committee and Chairman of the provincial People’s Council Hoàng Văn Nghiêm asked party committees, administrations, departments and agencies at all levels, especially border districts and communes, to follow the Party Central Committee’s resolutions on national border protection and abide by three legal agreements on the Việt Nam-China mainland border, as well as the Law on National Borders. … [Read more...] about VIETNAM POLITICAL NEWS HEADLINES OCTOBER 13

Vice Minister Bui The Duy from the Ministry of Science and Technology commented: ‘The innovation partnership between Australia and Vietnam has proven to be an effective mechanism for the two countries to share best practice and models to enhance the innovation systems in both countries. We hope grants provided under the Aus4Innovation program will set examples of how innovation – particularly when it can jointly developed and implemented – can transform our society and deliver economic, social and environmental sustainability.’ … [Read more...] about VIETNAM NEWS HEADLINES OCTOBER 13

Reducing dollarization, and the speculation and hoarding of foreign currencies helps the financial market work effectively. More importantly, the reduction in dollarization will ensure currency security for the Vietnam economy. “This is the government strategy to develop the banking sector by 2025 and 2030. Vietnam needs to stop lending in foreign currencies, for the short term in the immediate time, and then for medium and long term. There is a detailed roadmap for the implementation of the strategy,” said Dao Minh Tu, Deputy Governor of the State Bank. … [Read more...] about Vietnam central bank fighting against dollarization