Economy and commerce

Banking and financial services

SBV to soon complete legal framework for wider Fintech application

The State Bank of Viet Nam (SBV) is completing a legal framework to boost the development of digital banking and Fintech. According to Pham Xuan Hoe, deputy director of the Banking Strategy Institute, Viet Nam’s Fintech market will be worth US$9 billion in 2020, making it ASEAN’s fourth-largest ...

Thuy Dung

Microfinance helps rural women start businesses

For years, German’s Federal Ministry of Economic Co-operation and Development, Savings Banks Foundation for International Co-operation have helped the Việt Nam Women’s Association and TYM with microfinance activities.Under a regional project strengthening regional microfinance networks in former Indochina and Myanmar, German helped Tình thương One ...

Việt Nam ranks second in fintech investment in Southeast Asia

Venture capital funding pouring into Vietnamese fintech companies accounted for 36 percent of the total fintech investment in Southeast Asia. In Việt Nam, the leading field attracting venture capital in fintech companies was payment. Fintech companies are targeting about 300 million adults in Southeast Asia who ...

Green finance for renewable energy

As part of the strategy of sustainable national development, prioritizing capital sources for customers, who are investing in green production, environment-friendly production and renewable energy (RE) sectors is extremely important.Currently, banks have begun to gradually increase the proportion of green credit – credit for RE ...

Banks now keen on green credit

Green credit is now a trend in the global banking and finance industry and more Vietnamese banks are following suit. The State Bank of Vietnam (SBV) has taken welcome steps to develop Vietnam’s green credit market with its successful pilot of the Green Credit Program, according ...

Mobile banking project launched for low income people, women

The Vietnam Bank for Social Policies (VBSP) on September 6 officially launched the project “Mobile Banking – Financial Inclusion and Economic Empowerment for Low-Income People and Women in Vietnam” – Phase 2 (Mobile Banking 2).The project is funded by the Australian Foreign Affairs and Trade ...

New regulations on foreign exchange management

The State Bank of Viet Nam has issued Circular No. 06/2019/TT-NHNN on foreign exchange management for foreign direct investment activities in Viet Nam.The Circular, scheduled to take effect since September 6, 2019, regulates such activities like capital contribution, opening and use of foreign currency and ...

State Bank issues new regulations on use of foreign currencies in Vietnam

The State Bank of Vietnam has issued Circular 03/2019/TT-NHNN to amend and supplement several provisions of Circular 32/2013/TT-NHNN on restricting the use of foreign currencies in the territory of Vietnam.Accordingly, Circular 03 supplements certain provisions regarding the cases that non-residents are allowed to use foreign ...

ASEAN finance ministers, central bank governors meet in Thailand

The 23rd ASEAN Finance Ministers’ Meeting (AFMM) and the fifth ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) took place in Chiang Rai, Thailand, on April 5 under the chair of Thai Finance Minister Apisak Tantivorawong and Governor of Thai Central Bank Veerathai Santiprabhob.Officials welcomed ...

Hanoi to host 2019 Future of Finance Vietnam

The Future of Finance Vietnam forum, which seeks to nudge the financial sector into adopting digital technology, will take place on January 10.The organizer, The Asian Banker, said the event, with the theme “Unlocking the potential in Vietnam’s Digital Economy”, would look at the financial ecosystem being ...

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