Thu Hoai turned up at a party with a Bulgari handbag valued at over VND100 million, a favorite of many celebrities in the world, including Miranda Kerr and Kate Moss.

People who have idle money are engaging in property speculation, but at the same time many producers seriously lack money, according to Pham The Anh from the Hanoi Economics University.

According to Pham Dinh Thi, director of the MOF’s Tax Policy Department, the family circumstance deductions are defined in accordance with the amended PIT (personal income tax) Law.

Reports all show the great potential of the Vietnamese drinks and snacks market.

The growth rate of the beer market in 2020 will be at 6-7 percent, while the two-digit growth rate is unattainable, experts predict.

Small e-commerce trading floors are going their own way to find their places in the market amid bigger players.

Many retail models and entertainment services in large cities have not been successful when trying to develop a night economy.

The government’s report to the National Assembly on the 2019 public debt and 2020 budget shows that it plans to mobilize VND460 trillion worth of capital, mostly to offset the deficit and repay principal.

The multi-billion dollar capital flow which went to India and helped the country build decacorns (startups with value of over $10 billion) and unicorns (over $1 billion) in e-commerce, is now heading for Vietnam.

With revenue of $2.35 billion in 2018 and an annual growth rate of 25-30 percent per annum, the Vietnamese market is highly attractive to foreign brands.

Southeast Asia including Vietnam have emerged as destinations for investors in the reallocation of investment flow, especially capital flow from China.

Building a reasonable growth scenario and finding out ways to achieve the goal is how that Vietnam can escape the middle-income trap.

The Ministry of Finance (MOF) says that personal income tax (PIT) rates have become out of date after six years of application and need amendment.

Ousmane Dione continues his talk to VietNamNet about barriers to development and the path Vietnam needs to follow to reach prosperity.

Vietnamese income has improved significantly, but it has not reached the $3,000per capita threshold as calculated by General Statistics Office, economists say.

“Vietnam doesn't have other options other than moving forward. Frankly, Vietnam must move forward,” said Ousmane Dione, the Vietnam Country Director for the World Bank.

The state-owned economic sector ranks first in terms of productivity, followed by foreign invested companies. The productivity of the private sector is the lowest.

Modern Vietnamese who have high income are increasingly shopping online for cosmetics brands.

Japanese and South Korean are running a race to pour capital into Vietnam’s logistics industry.