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Until now, no forex trading platforms had been licensed for operation in Việt Nam. — File Photo HÀ NỘI — Forex trading via investment platforms had not been licensed in Việt Nam, posing significant risks to investors, Deputy Governor of the State Bank of Việt Nam Đào Minh Tú warned. Tú said at the Government’s meeting on Tuesday in Hà Nội that the operation of forex trading platforms was currently illegal, adding that the trading of foreign currencies and derivatives must be provided by credit institutions and commercial banks licensed by the State Bank of Việt Nam. Until now, no forex trading platforms had been licensed for trading, he stressed, warning about risks when investing via these platforms. Recently, some organisations like Lion Group called for investments in forex through Fx Trading Markets with attractive interest rates of up to 300 per cent per year and commissions. Lion Group attracted around 40,000 investors nationwide. Tú urged people to be cautious with these appealing calls, adding that there were signs of in-transparencies and frauds. “The skyrocketing profits in the current situation are impossible and investors must be cautious before deciding to pour money in forex trading platforms,” Tú said. The Ministry of Industry and Trade also said that the business model of Lion Group or other forex trading platform was not compliant with the established regulations about multi-level marketing businesses. Relevant management agencies must introduce regulations for the operation of these models. Regarding payments, Tú said that there were more and more oganisations providing payment services along with the development of technologies, adding that the central bank always focused on ensuring safety and convenience in payment. He urged attention to be paid to protecting personal data to ensure security in conducting payment transactions. Tú stressed that bitcoin and other cryptocurrencies were not legal means of payment in Việt Nam. …

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The Hanoitimes - The Vietnamese automaker aims to become a global smart electric car company. Vietnamese automaker VinFast, a subsidiary of conglomerate Vingroup, plans to build an automobile factory in the US with the aim of selling electric cars in California in 2022. Car showrooms in Vietnam. Photo: VinFast The Vietnamese automaker declined to provide details about investment, timing and location. However, the company will develop high-end models for the market in the immediate term and open 35 showrooms and service centers this year. California authorities have granted the Vietnamese company a license to test autonomous vehicles on public streets. Last September, the US state’s Governor Gavin Newson set a roadmap to stop selling gasoline cars by 2035 in order to make it a "zero-emissions" state. This policy is considered  the driving force for VinFast to strongly invest in electric car fabrication and distribution in the US market, according to VinFast CEO Thai Thanh Hai. The  market for electric cars in North America will not be easy for any  automaker, according to foreign experts. Ford Motor Co. and General Motors Co. are investing billions of dollars in electric cars, while other investors are also pouring  money to bring electric vehicle startups into North America through reverse mergers, typically Lucid Motors Inc., Lordstown Motors Corp., Fisker Inc., Canoo Inc., Xos. “VinFast’s vision is to become a global smart electric car company and the US market is one of the first international markets that we will focus on,” Hai said, adding that the company is also planning sales in Canada and Europe next year. In January, VinFast introduced two luxury electric SUV models which will be sold in the US, Canada and Europe. The Vietnamese manufacturer sold nearly 30,000 vehicles in 2020. The company forecasts sales of more than 45,000 units in 2021. Entering the auto industry three years ago, the company has an auto …

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The General Statistics Office of Vietnam (GSO) attends the ongoing 52nd session of the United Nations Statistical Commission ( UNSC ). (Photo: VNA) Hanoi (VNA) - A report on national accounts was among the items presented by the General Statistics Office of Vietnam (GSO) at the ongoing 52nd session of the United Nations Statistical Commission (UNSC), GSO Director General Nguyen Thi Huong said. According to Huong, the GSO has initially applied the System of National Accounts 2008 (2008 SNA), which is the latest version of the SNA adopted by the commission. This year, the office will implement a series of activities on national accounts, including the issuance of a guidebook on the classification of institutional sectors applicable to Vietnam’s statistics sector. At the session, the GSO is also set to deliver a presentation concerning a report on the UN Committee of Experts on Business and Trade Statistics. Huong said Vietnam supports orientations for changes to the manual on international merchandise trade statistics. The country requests the UN soon send its detailed plan for such changes to member nations and develop a related questionnaire to collect feedback. Besides, the the GSO is also set to have a presentation to the high-level group for partnership , coordination and capacity-building regarding statistics for the 2030 Agenda for Sustainable Development. Founded in 1947, the Statistical Commission consists of 24 UN member countries elected by the UN Economic and Social Council on the basis of equitable geographical distribution. Due to the COVID-19 pandemic, this 52nd session is being held in a scaled-down virtual format, consisting of four two-hour informal meetings from March 1 to 3 and on March 5./. VNA …

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