Provident bank

Le Huu Minh (L), deputy managing director of Volkswagen Vietnam, and Trinh Bang Vu, head of the retail lending division at Shinhan Bank Vietnam, at the signing ceremony for the preferential lending programme for buyers of Volkswagen cars on March 23. — Photo courtesy of the bank Shinhan Bank Vietnam Limited has partnered with Trend Motor Vietnam Co., Ltd to launch a preferential loan programme exclusively for people buying Volkswagen cars that provides financing of up to 80 per cent of the value of a new vehicle. Customers who borrow to buy the German carmaker’s Touareg, Teramont, Tiguan, T-Cross, and Polo models get the loan interest-free for the first six months and at a fixed rate of 10.9 per cent a year for the remaining 54 months. They can opt for terms in line with their financial ability, with maximum financing of 80 per cent of the price and loan tenure of up to eight years. The programme will be in effect at all dealers across the country until June 30, 2023. … [Read more...] about Shinhan Bank Vietnam offers special programme for Volkswagen buyers

Over the past 35 years of development, the Vietnam Bank for Agriculture and Rural Development, better known as Agribank, always proves its position and role as a leading commercial bank in Vietnam. It has pioneered monetary policies, contributing to stabilizing the macro-economy, curbing inflation and supporting the country’s economic growth. The bank has cemented its key role in developing the agriculture sector and rural areas and offering credit and services to serve the country’s socio-economic development. Agribank was proud to receive the Vietnam National Brand award for the third consecutive year in 2022 and was among the top 10 Vietnamese strong banking and financial brands the same year. The lender has obtained impressive achievements in digital and green transformation and made substantial contributions to community development. Despite the negative impact of the COVID-19 pandemic, Agribank, with its initiative and flexibility, has employed multiple … [Read more...] about Vietnam’s Agribank wins many local prestigious prizes

Land law adjustments aim to protect entities as well as the real estate market, photo Le Toan In a seminar to collect opinions from enterprises and experts regarding amendments to the Law on Land held last week in Ho Chi Minh City, Seck Yee Chung, a representative of the Vietnam Business Forum’s Trade and Investment Working Group, said that Article 35.d of the draft law provided that domestic companies only have the right to mortgages with their land and properties attached to the land at credit institutions licensed to operate in Vietnam. “This means that companies in Vietnam cannot mortgage their factory or land through foreign lenders, which creates great challenges for them to access competitive financing resources outside the country,” Chung said at the seminar, which was organised by the International Finance Corporation (IFC) and Ministry of Natural Resources and Environment (MoNRE). “Foreign lenders will look for security assets of Vietnamese companies to secure their … [Read more...] about Land law points further scrutinised

The energy transition in Vietnam is tied to the rapid growth of the economy, urbanisation, and industrialisation. We have seen the strong aspiration of the government to speed up the energy transition while meeting the requirements of economic development and the goal of becoming a high-income country by 2045. Energy transition is more seen as a potential engine for employment, and this trend will likely grow, helping to build support for renewables. John Rockhold, head of the Power and Energy Working Group under the Vietnam Business Forum Fossil energy sources are gradually being replaced by green and clean energy sources, reducing greenhouse gas emissions and combating climate change, while Vietnam is one of the first countries to renew its nationally determined contribution to the United Nations Framework Convention on Climate Change in 2020. The roadmap for the country’s transition process towards green and sustainable development will not only need to ensure … [Read more...] about Displaying readiness for the energy transition in Vietnam

Vietnam is said to have been avoiding the usual recessionary trends across the Asian markets and is showing better-than-average growth. (Photo: VNA) New Delhi (VNA) – An Indian expert has highly valued Vietnam’s post-pandemic recovery in an article recently published on Moderndiplomacy.eu. In the writing, titled “Vietnam’s macroeconomic policy and post COVID recovery”, Prof. Pankaj Jha, Director of the Centre for Security studies at India’s Jindal School of International Affairs, cited the latest IMF reports as saying that Vietnam's real gross domestic product ( GDP ) in 2023 is estimated at 6.2%, and this clearly indicates Vietnam has been avoiding the usual recessionary trends across the Asian markets and is showing better-than-average growth. He noted with an inflation rate of less than 4%, it clearly shows that Vietnam is likely to emerge as a promising economy in Asia. If one looks into the core fundamentals of Vietnam following the COVID-19 pandemic, it … [Read more...] about Vietnam showing better-than-average growth: Indian expert

At a meeting with the largest U.S. business delegation to ever come to Vietnam, which included the representatives of Coca-Cola and PepsiCo, Hue said that the recently proposed special consumption tax has been under consideration for a long time to curve consumer shopping habits and to protect their health. The process of applying this tax, however, will be considered thoroughly, taking into account the situation of businesses post-pandemic, he said, adding that there will be no sudden application of the tax. The Ministry of Finance has recently proposed a special consumption tax on sweetened beverages as well as the same tax on alcoholic beverages and cigarettes. The Ministry last made this proposal in 2014 calling for a tax 10% tax on sweetened beverages, but the proposal was not approved by many government agencies. Most businesses have said that the tax should be delayed until 2025 as they need time to recover from the Covid pandemic. They also said that sweetened … [Read more...] about Tax on sugary drinks proposed for the benefit of people’s health: NA chairman

Illustrative image. Source: baotainguyenmoitruong.vn EVN has received a document from the MoIT about an electricity price agreement with solar power and transitional wind power plants. The document states that, on January 7, Minister of Industry and Trade signed Decision No.21/QD-BCT establishing the price bracket for the generation of electricity by solar and transitional wind power plants. On January 9, the MoIT issued Document No.107/BCT-DTDL, urging EVN and its investors in solar energy and transitional wind plants to urgently coordinate to negotiate and cooperate on electricity generation prices to ensure that they do not exceed the MoIT's electricity generation price bracket. The MoIT also issued Document No.1094/BCT-DTDL on March 2, directing EVN on how to fulfil the agreement on electricity pricing outlined in the Electricity Law. Based on the aforementioned guidelines, the MoIT requests that EVN and its investors agree on electricity prices by March 31. Up to now, … [Read more...] about EVN must settle transitional renewable energy power tariffs before March 31: MoIT