Repatriates cooperative finance and development bank

According to statistics at the end of 2019, the average capital adequacy ratio (CAR) of four state-owned banks including Vietinbank, Vietcombank, BIDV and Agribank according to Basel I standards was only 9.4 percent, slightly higher than the prescribed minimum CAR of 9 percent. This level is much less than the CAR of private joint stock banks (12.1 percent) and lower than the average CAR of the entire system of credit institutions (13 percent). … [Read more...] about VN banks upbeat about charter capital hike in 2020

Ambassador Xiong Bo also noted that as Chair of ASEAN and a non-permanent member of the UN Security Council in 2020, Vietnam successfully organised meetings within the East Asia cooperation framework, actively advocated multilateralism and free trade, promoted regional anti-pandemic cooperation, and improved its influence in the region and the world. In particular, the Regional Comprehensive Economic Partnership (RCEP), signed last year, is currently the largest free trade agreement around the globe, he noted, describing this as a success of multilateralism and free trade that will fuel growth momentum for the regional and global economy. The development achievements Vietnam has obtained, especially the successful response against COVID-19, are all attributable to the CPV Central Committee’s steadfast leadership and the people’s support, like in China. This has reflected the unique advantages of the socialist regimes in the two countries, he added. In the interview, the … [Read more...] about Party Congress to create new development momentum for Vietnam: Chinese ambassador

Since 2020, facing serious impacts of the COVID-19 pandemic, the CPV Central Committee has maintained strategic persistence and solidarity to lead the entire Party, army, and people to weather difficulties and realise the twin targets of fighting against the pandemic and sustaining socio-economic development, with growth of 2.9 percent - one of the world’s fastest growth rates last year. … [Read more...] about Party Congress to create new development momentum for Việt Nam: Chinese ambassador

This year, the Tax Department will continue to review, analyze inspection data and examine a number of organizations and individuals that run ecommerce businesses in the capital city. The department, in coordination with commercial banks and trading platforms will collect data and instruct ecommerce operators to fulfil their tax obligations. … [Read more...] about Hanoian girl pays over VND23 billion in income taxes on app development

Noticeably, thanks to comprehensive and extensive activities of external economic development, the total foreign trade turnover of goods implemented in the 2011-2019 period hit $3.1 trillion, 20.2 times more than that in the 1991-2000 period and 3.6 times higher than the 2001-2010 period. This is a sign showing that Vietnam has exploited the strength of the domestic economy and taken advantage of the global market. It is proved by the fact that foreign investment has become an important capital mobilization channel for socio-economic development, contributing to promoting economic restructuring towards industrialization and modernization, creating more jobs, and improving management capacity and technological level. Especially, foreign direct investment has also stimulated the expansion of external economic relations between Vietnam and other countries in the region and the world. The new position and growth motivations Along with the achievements in socio-economic development, the … [Read more...] about Bright economic appearance after 35 years of innovation