Both Vietnam and Bangladesh appear to be well-positioned as clothing manufacturing hubs and will be obvious choices as clothing retailers with exposure to the US shift their production out of China. (Illustrative photo: VOV) US President Donald Trump has most recently threatened to levy new tariffs on US$300 billion worth of Chinese imports to the US. Unlike previous rounds of tariffs that largely targeted industrial and commercial products, this round is expected to cover all US imports from China and hit consumer goods such as toys, footwear, and apparel. Fitch Solutions, a macro research unit of Fitch Group, noted that on May 5 President Donald Trump announced the US would increase tariffs on US$200 billion worth of Chinese goods to 25 per cent, a rise from 10 per cent. In response, China reacted by imposing tariffs of between 5 and 25 per cent on US$60 billion of US goods. A study by the US’ National Retail Federation shows that the threatened US$300 … [Read more...] about Trade war to benefit Vietnam’s fashion sector
Moving companies from state to state
Experts said that a series of favorable conditions are encouraging local banks’ plans to sell shares to foreign investors for capital hike in a move to meet the Vietnamese central bank’s Basel II regulation. Considerable interest from foreign investors and favorable conditions are supporting many Vietnamese banks to promote their share sales and come closer to the completion of capital hike plans. Military Bank expects to complete a sale of a 7.5% stake by the end of this month. According to industry insiders, after the deal between South Korea’s KEB Hana Bank and Hanoi-based Commercial Bank for Investment and Development of Vietnam (BIDV) recently, the market will see many other deals in the banking sector to be completed soon. Among them, the sale of a 7.5% stake, or 141.5 million new shares and 47 million treasury shares of Vietnam’s Military Commercial Joint Stock Bank (MBBank), is expected to be completed by the end of this month. Many … [Read more...] about Vietnamese banks come closer to big deals
Nguyen Phi Lan, partner, Risk Assurance leader, PwC Vietnam The event was attended by various local banks and fintech companies, with the majority of participants being C-suite executives and experts in digital banking, information technology, cybersecurity, and risk management. In fact, stronger connectivity among financial services providers means new opportunities and new risks. Digital transformation has given rise to increased outsourcing of operations and services by banks to third-party vendors. Common types of third-party services used by banks include payment initiation, customer loyalty programmes, or routine office administration tasks, among others. Cost savings are not the only reason why third-party services are on the rise in banking. Beyond that, third-party vendors give banks access to specialist capabilities and technologies that they might not yet be able to build or maintain in-house. Despite the evident benefits of using third-party providers, the … [Read more...] about Banks need to step up third-party risk management
Inside PGBank's provincial office in the southern province of An Giang. The bank could finalise its merger with HDBank in June 2020. — Photo baoangiang.com.vn The merger between PGBank and HDBank could complete in June 2020, according to petrol dealer Petrolimex deputy general director Luu Van Tuyen. Petrolimex had developed the plan to exit its financial arm PGBank or Petrolimex Group Commercial Joint Stock Bank in 2015, Tuyen told reporters and analysts last week. In 2015, Petrolimex and the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) signed an agreement that allowed the latter to acquire PGBank through a share-swap deal. The deal collapsed on April 21, 2018. The same day, HCM City Development Joint Stock Commercial Bank (HDBank) approved the merger with PGBank and the State Bank of Vietnam (SBV) then agreed with the basic principles of the deal. The two sides were still waiting for the central bank’s final decision, Tuyen added. In the … [Read more...] about PGBank, HDBank merger could finish in June 2020
CapitaLand Vietnam celebrates its 25th year of operations and pledges S$25,000 to further its commitment to CapitaLand Hope Schools in Vietnam8 REASONS TO CHOOSE THE MARQWyndham Soleil Danang officially launches Nimbus TowerTHE MARQ – A PEACEFUL OASIS IN THE HEART OF DISTRICT 1BIM Land has signed 2 offshore loan agreements worth USD 137.5 million Just eight months after the official launch, Vietnam has become the fastest growing market of GrabFood in South East Asia, outside of Indonesia. What are the reasons behind such a tremendous achievement? By the end of September, GrabFood has officially operated in Viet Nam for eight months. However, the latest figures released by Grab recently showed that GrabFood has become one of the leading food delivery services in the Vietnamese market. For more than half a year, GrabFood has continuously expanded and set its footprint to 15 cities and provinces in total. The number of merchant-partners has increased 10 times and the … [Read more...] about Why Vietnam is the second fastest growing market of GrabFood in South East Asia?