Bank

For their part, securities companies on the one hand have to compete with the policy on transaction fee cuts—some even offer free lifetime trading—and on the other hand, sharply lower their interest rates for margin loans to stimulate investors (the number of new accounts opened since March has hit a record high). In the past four months, quite a few securities companies have revised down their margin interest rates to around 9%, forming a new margin interest rate level. Some firms have even completely exempted investors from interest rates if the latter buy stocks in the first 10 trading days. … [Read more...] about Low credit growth may redirect bank money to securities

Governor of the State Bank of Vietnam Le Minh Hung said, "The banking sector will provide sufficient, timely capital to the economy and manage forex stably. We will promptly intervene in the market whenever extreme fluctuations cause macro instability. If necessary, we will implement stronger monetary measures, including refunding projects in key economic areas to boost economic growth." … [Read more...] about Vietnam resolute to achieve target growth

Economist Vo Tri Thanh said the government needs to speed up the execution of the VND62 trillion (US$2.7 billion) stimulus package for coronavirus-stricken individuals and businesses and financial support in the form of more than VND180 trillion ($7.7 billion) worth of delayed tax and land rent collection for companies.  … [Read more...] about Vietnam PM asks for long-term stimulus plan to counter COVID-19 impact

Hanoi is speeding up replacing pavements around Hoan Kiem Lake with the natural stone and consolidation of the lake bank to mark the 1010th anniversary of Hanoi in October this year. It is expected to be completed before the National Day on September 2. The pavements around Hoan Kiem Lake has deteriorated overtimes. A pilot programme to use natural stone from Binh Dinh and Phu Yen provinces was carried out until June before Hanoi authorities agreed to replace all pavements around the lake. Each stone weighs around 30kg. Three groups have worked day and night since late June in order so that the project will be completed on time. The authorities have also monitored the work to ensure environmental protection and that the construction meets the required standards. The authorities in Hoan Kiem District have started putting cables underground and investing in an automatic watering system and making sure that visitors will have more place to sit and rest. Some photos of the … [Read more...] about Hoan Kiem Lake path upgrade nears completion

Kazuma Shukuin, chief representative of Japan-based JCB in Vietnam, said transactions via JCB cards grew 50% in 2019, 70% of which came from online turnover. This is possible probably because of the attractive preferential programs that come with JCB cards (such as airport lounges, golf courses, food service systems and virtual cards for e-commerce marketplaces, etc.), said Shukuin. Although Covid-19 has affected JCB’s business expansion plan, he said the number of online payments on e-commerce platforms has still risen rapidly. This is a chance to make cashless payments more noticeable. … [Read more...] about Risks scare away online consumers