The State Bank of Vietnam (SBV) bought 8.35 billion USD from credit institutions between the beginning of this year and April 17 to build up the nation’s foreign reserve.

Authorities are planning to continue tightening credit for real estate in the time ahead, which is hoped to have positive impacts on the market, heard a forum in Hanoi on May 4.

Although the local private sector has enjoyed phenomenal growth in the past years, reaching its abundant potential still proves a challenging task.

Corporate bond issuance up 220% in Q1

As Vietnam moves closer to developing a sturdy private sector, the government is being urged to create the best conditions for the sector to do business.

The equitisation of SOEs is still slow, failing to reach the rate of progress as directed by the Prime Minister, Deputy Minister of Finance Vu Thi Mai said at the Government’s regular press briefing in Hanoi on May 4.

The National Payment Corporation of Viet Nam (NAPAS) has announced a fee reduction for its local switching system services with an aim to encourage banks replacing their current magnetic strip ATM cards with chip cards ahead of schedule.

Vietnam is now considering the manufacturing industry as a key pillar for growth.

Viet Nam could enjoy an additional US$162 billion to GDP in the next 20 years if the country succeeds in its digital transformation, said Deputy Minister of Planning and Investment Vu Dai Thang.

January-April total retail value grows at highest rate since 2015

Competitive labour costs and preferential policies will continue to help Viet Nam become an ideal destination for investors in the garment and textile sector.

The private sector plays a crucial role in the national economy and should be given impetus to develop. 

Despite one of the world’s highest economic growth, broad-based macroeconomic stability, and advanced IT infrastructure, Vietnam is still dogging behind many Southeast Asian nations in developing a large startup community.

In the context of the Fourth Industrial Revolution, the global economy is entering a period of growth mainly based on technology and innovation.

Vietnam’s manufacturers and service providers alike are awakening to the immense gains from research and development, and cutting-edge technology which they can use to either comprehensively restructure their operations.

Local banks are taking precautionary measures to cope with card fraud, such as asking cardholders to change their passwords and locking automated teller machines (ATMs) after 10 p.m. during public holidays.

The Vietnamese private sector has gone on a journey from “no” to “yes,” suffering stumbles to become mature.

Vietnam recorded a year-on-year rise of over 2.7 per cent in consumer price index (CPI) in the first four months of this year, marking the lowest rate of increase seen in three years, according to the General Statistics Office.

The Purchasing Managers’ Index (PMI) of Vietnam rose to a four-month high of 52.5 in April from 51.9 in March, according to a Nikkei-IHS Markit survey.

Private sector has big role in HCM City’s economic development