HSBC’s 11th annual Expat Explorer survey reveals that expats in Vietnam annually earn $90,408 on average, with 31 per cent seeing an income rise of 25 per cent and above. Vietnam, accordingly, ranks in the first place in the world with nearly three quarters (72 per cent) saying moving to Vietnam helped them save more, while 72 per cent also agree that they have more disposable income than they did in their home country. Both proportions are higher than the global average (52 per cent for savings and 56 per cent for disposable income). The survey was conducted in the form of an online questionnaire, with the participation of 22,318 expats from 163 countries and territories. The most popular purpose of their saving or investment is still retirement (43 per cent), followed by buying the first/next property (30 per cent). Nevertheless, when it comes to property ownership, one-fourth (26 per cent) of expats own property in Vietnam, while the global average is 36 per cent. Expats … [Read more...] about Expats vote Vietnam among best countries to live and work
What are good ways to invest money
As the cool kids would have it, we live in very “woke” times. Thanks to the influence of social media and the 24-hour news agenda, we are all more aware of social and environmental issues than ever before – and more able to hold bad actors to account. And, in this new era of transparency and accountability, many of us will have found a heightened sense of personal responsibility has taken hold. It is not often that you find the global financial services industry capturing the zeitgeist of the day, but that is exactly what we’re seeing with the sector’s ever-growing focus on ethical, or responsible, investing. Not only is the industry seizing the chance to rehabilitate its image generally, it is also coming to see ethical credentials as a great way to boost the bottom-line too. So, what is responsible investing all about and why is it such a focus now? Responsible investing is, in fact, nothing new. Investors started to back away en masse from industries … [Read more...] about Why the Investment Industry is Getting Woke, Especially for Women
VietNamNet Bridge – If Vietnam uses overseas remittances to its benefit, they could be a powerful driver in the development of the national economy. Conversely, the economy could be put under pressure if they are not deployed effectively. A recently released report by the Central Institute of Economic Management (CIEM) shows that Vietnam has received $90 billion worth of overseas remittances, or kieu hoi, as they are called in Vietnam, over the last 14 years. Kieu hoi, or money remitted by overseas Vietnamese to their relatives in Vietnam, is the second largest investment capital in the country, just below foreign direct investment (FDI). Nguyen Duc Kien, deputy head of the National Assembly’s Economics Committee, believes that the capital source is more important than ODA (official development assistance) and as important as FDI. Speaking about the role of kieu hoi in Vietnam’s economy, Bui Kien Thanh, a renowned economist, said: "Kieu hoi helps maintain the … [Read more...] about What are the effects of overseas remittances on the Vietnamese economy?
UK businesses see Vietnam as a good place to invest as this is a large market with a friendly environment, the Lord Mayor of London said during his visit to the country last week. Alderman David Wootton, the 684th Lord Mayor of London, said that the current economic downturn will not affect UK investment in the Southeast Asian country as investing here is a long-term decision to make. … [Read more...] about Vietnam a good investment venue: London Lord Mayor
Industry insiders are considering ways to improve firms' access to credit. "Vietnamese banks are lenders which usually offer collateral-based loans and do not have sufficient experience as well as human resources to consider lending based on project feasibility. That approach needs to be modified and loans should be rendered to viable projects," said economist Bui Kien Thanh. Thanh said in the US, if a micro business with $2,500 worth in asset value has a feasible project it can get a $250,000 loan package from banks without the need for collateral. According to Vietnam Banks Association former chairwoman Duong Thu Huong, Vietnam's commercial banking system inclined to lend based on project potential money flows. However, firms, in fact, fail to show out project feasibility so that they often borrow with collateral. "Banks raise money not to keep it idle. To get loans, firms must prove their products are sellable with promising money flows in return," Huong said, adding that … [Read more...] about New bridge to scarce credit lines