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Bancassurance is still in its infancy but is a promised land for insurers and banks alike.

BUSINESS IN BRIEF 8/3

 Environmental tax on petroleum products may rise, 2M car imports down sharply, 68% of Vietnamese freelancers not paid at times, Food association drafts action plans, Vietnam joins Foodex 2018 in Japan

Forging ahead

 Projects from 126 countries and territories in 19 sectors have come to the country, worth $318.72 billion in total. 

Honesty as the best marketing policy

 In the age of fake news and unverified information on social media, transparency and honesty once again become the most important factors for good property developers.

Small banks holding breath for upcoming AGMs

With the season of banks’ annual general meetings (AGMs) approaching, small-scale banks are distressed over countless issues, such as failing to reach 2017 targets, the alarmingly high rate of non-performing loans.

A positive step in food safety management?

 Nguyen Thanh Phong, director general of the Department of Food Safety under the Ministry of Health, talks about a controversial change in food safety management. 

Developers marching down to the riverside

With a crowded river and stream system and a big, largely untapped land fund along the riverside, HCM City has enormous potential for riverside property development. This year is expected to see a boom in riverside mega-property projects.

Ho Chi Minh City strives for 18 doctors per 10,000 residents

 Ho Chi Minh City has set a target of having 18 doctors and 42 hospital beds per 10,000 residents in 2018 so as to increase the quality of health check-ups and treatment.

Ministry of Finance works to handle tax arrears

 The Ministry of Finance (MoF) is working on a draft resolution on handling tax arrears and irrecoverable fines to submit to the National Assembly. 

Sovereignty, sovereign rights, jurisdiction of Vietnam ensured: official

Vietnam has made efforts to address unsolved problems on border, territory, sea and islands over the years, ensuring the country’s sovereignty, sovereign rights and jurisdiction, said Deputy Foreign Minister Le Hoai Trung.

HCM City court halts trial of Navibank case

The HCMC People’s Court on March 7 decided to halt the trial of the case of “deliberately violating State regulations on economic management, causing serious consequences” at Navibank.

PV Oil begins trading shares on UPCoM

Trading of shares of the PetroVietnam Oil Corporation (PV Oil) officially started on the Unlisted Public Company Market (UpCOM) on the morning of March 7, more than one month after its initial public offering (IPO).

New decree amends social network-related regulations

 Prime Minister Nguyen Xuan Phuc has issued Decree 27/2018/ND-CP, amending and supplementing some articles of Decree 72/2013/ND-CP on the management, supply and use of Internet services and online information. 

Significant progress made in sustainable lending reforms

 Vietnam sees improvements in banking sector reforms on sustainable lending, Sustainable Banking Network report finds.

Alzheimer's researchers win brain prize

 Four dementia scientists have shared this year's 1m Euro brain prize for pivotal work that has changed our understanding of Alzheimer's disease.

Industrial zone developers: High time for action

 As the flow of foreign capital is growing rapidly while domestic enterprises are continuously expanding their production scales, the potential of industrial real estate in Vietnam is becoming tremendous. 

Following fraud, wary banks allow customers to check accounts online

 VietNamNet Bridge – Following the alleged misappropriation of VND245 billion (US$10.78 million) from an Eximbank customer’s account, many banks are now enabling their customers to check their accounts online.

Cars buck falling CO2 emissions trend

 Britain's carbon emissions have sunk to the level last seen in 1890 – the year before penalties were first awarded in football.

Illegal facilities in historic villa to be removed

 VietNamNet Bridge – Illegal structures on the estate of a historic villa in the tourist city of Da Lat will be forcefully removed if the owner fails to do so by March 15.

To the next step

The story of FDI in Vietnam is largely one of peaks and troughs and now that foreign investment is generally stable there are certain changes required.