Dubai financial market

Vietnam wants to learn from the experience of developed countries, including the U.K., in developing a financial center, National Assembly Chairman Vuong Dinh Hue told the Acting Mayor of the City of London Peter Estlin. He noted that the city of London was one of the biggest financial centers in the world. Hue met Estlin during his June 28-30 official visit to the U.K. Estlin said the U.K. was willing to partner with Vietnam at different levels, including developing a financial market and improving its business credit rating to grow the bond market. He also expressed support for a partnership between U.K. banks and Vietnamese counterparts to help Ho Chi Minh City become a financial center. In a draft plan published last February, HCMC seeks to establish an international financial center by 2030 with three main components: a monetary and banking market; a capital market; and a derivatives market. … [Read more...] about Vietnam seeks UK assistance for HCMC financial center

Approximately 100 tonnes of Vietnam’s ST25 rice has hit the shelves of Japanese supermarket chain in order to serve both Japanese consumers and Vietnamese nationals residing and studying in the Far East country. Vietnamese Ambassador to Japan Vu Hong Nam (left) and President of Tokyo Financial Group at the event to promote Vietnam's ST25 rice The presence of ST25 rice in the Japanese market is part of trade promotion activities aimed at boosting the export of high-quality Vietnamese rice to demanding markets throughout the world. Vietnamese Ambassador to Japan Vu Hong Nam pointed out that, despite the nation being the world’s largest rice producer, Vietnamese rice exporters are required to meet the 600 stringent technical standards to penetrate the Japanese market. The Vietnamese diplomat assessed that the introduction of Vietnamese rice in the fasdious market has been a great success for both local manufacturers and businesses. Watanabe Hisanobu, … [Read more...] about High-quality Vietnamese rice ST25 goes on sale in Japanese market

Dr. Ho Thanh Tung, representative of the Organising Committee, delivered a speech to welcome the conference According to Le Long Giang, director of the Vietnam Financial Advisers Association (VFCA), the second most important technology in the world at the moment is blockchain. A powerful new extraction method is that has the potential to disrupt economic patterns and alter future markets. “In developing economies, blockchain has the ability to propel them to new heights. Educators, researchers, technology transfer agents, and entrepreneurs all play key roles in this process. A fifth goal, which has just been launched, is that of universities as co-creators of sustainable development. University participation in such a process should be encouraged,” he emphasised. Digital and blockchain technology, financial laws and norms, big data, financial markets and institutions in the age of technology, and fintech behaviour and performance were all on the agenda for the conference. … [Read more...] about Ton Duc Thang University hosts conference on financial blockchain applications

It was led by angel investor Clement Benoit and U.S.-based startup accelerator Y Combinator. The money will be used to improve its app by building a social network in it so users can share their investment knowledge. Anfin was launched in October last year and has raised around $7 million to date. Its app allows users to invest as little as VND10,000. Its CEO, Phuoc Tran, said the app has over 100,000 active accounts with a total transaction value of $10 million. Benoit said creating a product that serves many groups of people in society is the right move in a big market such as Asia. He hoped the company would branch out to other countries and succeed in its social investing business model. Interest in stocks remains sky-high in Vietnam, with 476,300 new accounts opened in May, a new record. Phuoc said despite the volatility in the market, stocks remain an asset class with great prospects. Data from investment fund Dragon Capital Vietnam shows that in the last five … [Read more...] about Financial startup Anfin raises $4.8 mln

Implementing the Decision No. 08/2022/QD-TTG dated March 28, 2022 of the Prime Minister on the implementation of housing rental assistance policy for employees, over the passing time, the Vietnam Social Security Agency has been directed to concentrate on human resources, reforming administrative procedures, applying information technology to confirm soon cases being eligible to receive financial support for a rental house in the spirit of ensuring publicity, transparency and eligible beneficiaries. As for employees who are working in enterprises, each eligible person will be received financial support of VND500,000 (US$21.5) a month with a maximum support period of three months. In 50 provinces and cities nationwide, the Vietnam Social Security Agency has confirmed 9,657 units with 397,588 workers, including 393,759 contracted workers being subject to mandatory social insurance to be received the financial support. Regarding people having just returned to the labor market who … [Read more...] about Over 400,000 employees confirm to receive rental house financial support

Gloom has set in in many localities including Bao Loc (the Central Highlands province of Lam Dong), Dac Nong, Binh Phuoc, Ba Ria-Vung Tau, and Binh Thuan, whose real estate markets used to be hot a few months ago.— Photo datxanhgiatrithuc.com Tran Trung Thanh, a real estate broker in Binh Thuan and Ba Ria-Vung Tau provinces, said since the beginning of April demand for agricultural lands has seen a sharp slump. The number of people who want to sell land is higher than those who want to buy, he said. Gloom has set in in many localities including Bao Loc (the Central Highlands province of Lam Dong), Dac Nong, Binh Phuoc, Ba Ria-Vung Tau, and Binh Thuan, whose real estate markets used to be hot a few months ago. Even the housing segment has shown signs of slowing down in many localities due to falling demand on both the primary and secondary markets. HCM City is a typical example. The country’s economic hub always has high demand for housing and faces a serious shortage of … [Read more...] about Real estate market slumps as banks cut off funds

Land split into lots for sale. The real estate market was slowing down on the tightening of credit flow into certain segments. — VNA/VNS Photo As moves are taken to control the credit flow into certain segments, while localities seek to tighten the land lot split, the real estate market could slow down, but experts remain divided on the risk of the bubble bursting. In recent years, land prices increased rapidly despite the impact of the COVID-19 pandemic. According to a report by the Department of Housing and Real Estate Market Management under the Ministry of Construction, land prices, especially in localities planning or developing infrastructure saw whopping increases. The moves to control credit flow into the real estate sector and land lot split were cooling the market, with falling liquidity but prices staying at high levels. A report by real estate portal batdongsan.com.vn showed that searches for property on sale via the portal in the first five months of this year … [Read more...] about Real estate market slowing down, experts divided on bubble risk

Vietnam and the UK would strengthen cooperation in green finance, and digitalization of the financial sector, with the UK's assistance in providing the required resources for Vietnam to realize its commitments at the COP26. Vietnam expects to receive UK’s support in finalizing legal frameworks in the field of banking and finance, as well as a performance evaluation system for businesses. Chairman of the National Assembly Vuong Dinh Hue and the Acting Mayor of the City of London Peter Estlin. Source: VNA Chairman of the National Assembly Vuong Dinh Hue expressed his hope during a meeting with the Acting Mayor of the City of London Peter Estlin on June 29 (local time) in the UK’s capital. At the meeting, Hue highlighted the role of London as one of the world’s largest financial centers in the world, while many UK finance-banking institutions such as Prudential, HSBC, and Standard Chartered have been effectively operating in Vietnam over the years. In this … [Read more...] about Vietnam looks for UK support in finalizing financial regulations: NA Chairman

Ring road plan to transform market - Illustrative photo (Source: VNA) The government has asked the National Assembly (NA) to consider and decide on the policy for investing in the ring roads to be located in the country’s two biggest cities. Tran The Anh, sales director of Thang Loi Group, said that the land fund in inner cities is increasingly exhausted and prices are high, with investors turning to suburban real estate. “There is a thirst for houses for those living and working in Ho Chi Minh City in particular,” The Anh said. “The shifting trend of investors and individual financiers is also creating a new vitality for the real estate market in the suburbs.” One of the issues discussed by NA delegates and experts is how to exploit the land fund around the two ring roads, which will soar in value. Already in many places, the price of land in the area has increased dozens of times over. “Because the two routes will open up a vast land fund, the management of auctions of … [Read more...] about Ring road plan to transform market

Jesse Choi, CEO of Sunwah Innovations and director of Sunwah Vietnam talked about Vietnam's market entry opportunities and strategy The webinar received around 100 participants including experts and representatives of corporates, startups, universities, incubators and accelerators, venture capital firms, and business associations from Vietnam and neighbouring countries and territories including Cambodia, Singapore, Japan, South Korea, China, and Hong Kong. Vietnam has seen significant improvements in developing a dynamic and open business environment. In the post-pandemic period, the country stands firm as one of the most attractive destinations in the Southeast Asian region for foreign investors and businesses including venture capital firms and startups. Realising an increasing need from overseas startups and supporting organisations to explore and gain footholds in the market, Sunwah Innovations organised the Vietnam Market Entry Opportunities and Strategy webinar. It was … [Read more...] about International webinar on Vietnam’s Market Entry Opportunities and Strategy