Economic expert Nguyễn Trí Hiếu According to Việt Nam Chamber of Commerce and Industry (VCCI), up to 70 per cent of small- and medium-sized enterprises (SMEs) have had difficulties in getting loans due to not meeting the requirements of lenders. Financial leasing companies are considered as a good solution at present. Economic expert Nguyễn Trí Hiếu speaks to the Vietnam News Agency about this issue. SMEs need capital and banks have also offered many preferential credit packages to attract businesses, but supply and demand are still difficult to balance. Why is this? SMEs in Việt Nam and across the world are always thirsty for capital. These enterprises have played a very important role in the economies. In Việt Nam, they have contributed a large proportion to the State budget but they find it the hardest to approach capital. SMEs face high risks when entering the market because they lack market share, have limited … [Read more...] about Việt Nam needs financial leasing firms so SMEs can develop
Financial advisor v financial planner
VISA prepares smart financial management for Vietnamese students
The Hanoitimes - Preparing financial management skills for students is part of efforts to contribute to Vietnam’s increasingly diverse commerce scenarios. Vietnam among fastest growing markets for Visa globally VISA to help Vietnamese people access financial solutions Visa Inc. (VISA) has pursued a program that provides smart financial management skills to students across Vietnam over the past eight years. VISA's program prepares smart financial management skills for Vietnamese students. Photo: Ogilvy In cooperation with the Central Committee of Vietnam Students’ Association (CCVSA), VISA launched earlier this week the 2019 “Practical Money Skills” program which focuses on the key subjects – students and other beneficiaries in a broader scope. With this year’s program under the theme “Cháy túi” (literally, “wallet on fire”, similar to the English phrase “money burns a hole in … [Read more...] about VISA prepares smart financial management for Vietnamese students
Traphaco fares poorly in optimising profit through financial tools
One of the major pharmaceutical firms in the country, Traphaco JSC seems to have forgotten the strength of financial vehicles to realise its profit optimisation target. The total asset value of Traphaco was about $69 million at the end of 2018 Fairly safe financial structure According to Traphaco’s 2018 fourth quarter financial statement, the company’s total asset value fetched VND1.59 trillion ($69 million) by the end of 2018, a slight increase compared to early 2018. Its debt volume rose by 23.5 per cent on-year to reach VND483 billion ($21 million) which was still low compared to its VND1.107 trillion ($48 million) in total equity capital. This is alleged as a relatively safe financial structure. Before last year, the company’s debt over equity ratio was often more than 30 per cent. Accordingly, it stood at 34 per cent in 2015, modestly rising to 35.8 per cent in 2016 before slightly retreating to 34.9 per cent in 2017. It rose to 43.6 per cent … [Read more...] about Traphaco fares poorly in optimising profit through financial tools
Seven life-changing financial resolutions for 2019
Brian Spence* Do you have some bad financial habits? If so, then you are certainly not alone, since a massive 78 per cent of us will admit to behaving badly with money, according to a new survey by financial services provider OneFamily. As someone who has spent my career giving financial advice, I can certainly attest to the truth in that figure. Whether it be impulse spending, not saving enough or failing to ensure that any savings are working as hard as possible, most people could do with overhauling their financial behaviour in one way or another. Breaking bad money habits and forming new, healthy ones really is an investment in your future – and that of your family – and as we begin a new year, there really is no better time to start. So, mark the start of 2019 by making some solid financial resolutions that will power you closer to your money goals and make sure you end the year (and every one after that) in a much better place. Whether you are focused on saving … [Read more...] about Seven life-changing financial resolutions for 2019
ADB approves $100 million loan to boost VN’s financial sector
A counter at Hà Nội’s taxation office. — VNA/VNS Photo Hoàng HùngViet Nam News HÀ NỘI — The Asian Development Bank (ADB) has approved a US$100 million policy-based loan to develop Việt Nam’s finance sector, aiming to support long-term economic growth and tackle rising income inequality. ADB said the programme was consistent with the government’s Socio-economic Development Strategy in the 2011-20 period and ADB’s Strategy 2030 in addressing remaining poverty and income inequality. ADB Financial Sector Economist Dương Nguyễn said Việt Nam’s economic performance in recent years has been impressive but reforms remained incomplete, especially in the finance sector. In addition, the limited levels of financial inclusion could exacerbate rising income inequality and impact long-term sustainable economic growth. “This programme will support the Government’s efforts to … [Read more...] about ADB approves $100 million loan to boost VN’s financial sector