Vietnam International Bank (VIB) has introduced the bill discount service with various attractive benefits for export enterprises. Accordingly, after delivery of goods, exporters bring a bill of exchange and a full set of export documents to VIB where they will have up to 100 per cent value of their bill discounted. The service does not require exporters to have any guaranteed assets rather than a bill of exchange and a set of documents. Exporters will enjoy a competitive discount rate (which is maximum 20 per cent lower than normal lending interest rate). VIB also applies the form of discount without recourse. In addition, the bank offers a discount term of up to six months and other benefits for exporters. Especially, when banking with VIB, exporters will work with and be advised by our highly experienced international payment team. With various benefits and convenienes under the bill discount service, VIB expects to provide exporters with a preeminent solution to meet … [Read more...] about VIB offers service of bill discount for exporters
Offering service
Vinasat-1 offers services abroad
Lam Quoc Cuong, Vice Director of VTI (Vietnam Telecom International), said that Vinasat-1 was scheduled to provide telecommunication services for foreign companies. According to Cuong, Vinasat-1 is able to provide services form not only Southeast Asia, but also other big markets such as India, Japan, Korea or even Hawaii (US). VTI is promoting business with foreign partners. Several MOUs have been signed with ABS (Hong Kong, China), Universal Telecom Services (US), and Protostar (Singapore). Source: TBKT Translated by Hoang Anh … [Read more...] about Vinasat-1 offers services abroad
Jet Airways offers service between India and Ho Chi Minh City
Indian private carrier Jet Airways joined Vietnam's aviation market this month by offering daily flights between New Delhi and Mumbai and Ho Chi Minh City. Jet Airways Naresh Goyal said at the route launching ceremony in HCMC Wednesday said the new flights to Vietnam's commercial hub were driven by the increasing commercial and religious activities between the two countries, Thoi bao Kinh te Saigon Online reported. Goyal said Vietnamese export to India increased by 46 percent between 2008 and 2012. Meanwhile, more Buddhist pilgrims have been coming from Vietnam to India and the surrounding area, he said. The new route is enabled by a codeshare agreement between Jet Airways and Vietnam Airlines through the international gateways of Bangkok, Singapore and Hong Kong. Jet Airways thus is allowed to place its marketing code on Vietnam Airlines' flights from Bangkok and Singapore to Ho Chi Minh City and Hanoi. In turn, Vietnam Airlines can place its marketing code on Jet Airways' services … [Read more...] about Jet Airways offers service between India and Ho Chi Minh City
Military-run telco fined $3,500 for offering services without users’ consent in Vietnam
The Vietnam Military Telecommunications Group (Viettel) has been fined for automatically activating value-added services for dozens of millions of its subscribers without their prior consent, according to recently released inspection results. Even though these are not paid services, activating them without any consensus from the subscribers is enough to be deemed violations, inspectors from the Ministry of Information and Communications said while explaining the reason for the VND75 million (US$3,530) penalty imposed on the Hanoi-based telecom group. … [Read more...] about Military-run telco fined $3,500 for offering services without users’ consent in Vietnam
35 card issuers still offering service free-of-charge
According to the State Bank of Viet Nam's Payment Department, 35 card issuers are still offering the money withdrawing service from ATM machines free-of-charge. The department reported that most banks with the free-of-charge service are small- and medium-sized so they offered the service free-of-charge in order to keep their existing card-holders as well as attract new ones. Under Circular No 35/2012/TT-NHNN, card issuers are allowed to charge fees on debit card holders, especially for ATM transactions as of March 1. These fees can be up to VND1,000 (US$0.05) per transaction in 2013, VND2,000 in 2014 and VND3,000 from 2015, and the banks could choose where to set their fees. The ATM withdrawal fees were mainly applied to large banks which account for 70% of the country's total debit cards and 57% of the country's total automatic teller machines, the department said. Banks that have so far applied the fees are Vietcombank, Sacombank, SeABank, LienVietPost Bank and Western … [Read more...] about 35 card issuers still offering service free-of-charge