Why investor need financial statement

Việt Nam's small- and medium-sized enterprises (SMEs) need fintech services for development in the future. — Photo baochinhphu.vn HÀ NỘI — Việt Nam needs to develop financial technology (fintech) services for small- and medium-sized enterprises (SMEs), according to experts. "Existing innovative digital financial services for SMEs have not yet been systematically formed. Meanwhile, these enterprises always need more and more accessible financial services with low cost and a variety of products," said Bùi Huy Nhượng, vice rector of the National Economics University. Therefore, innovative financial services for SMEs need to be studied to develop not only for fintech startups but also for traditional financial institutions and technology companies. Dr Lương Thái Bảo, executive director of the Bachelor of Financial Technology Programme at the National Economics University, said that Việt Nam had a large number of SMEs, while it also has a high IT application index in the region. … [Read more...] about Việt Nam needs to develop fintech services for SMEs

Viet Nam's small- and medium-sized enterprises (SMEs) need fintech services for development in the future. — Photo baochinhphu.vn Viet Nam needs to develop financial technology (fintech) services for small- and medium-sized enterprises (SMEs), according to experts. "Existing innovative digital financial services for SMEs have not yet been systematically formed. Meanwhile, these enterprises always need more and more accessible financial services with low cost and a variety of products," said Bui Huy Nhuong, vice rector of the National Economics University. Therefore, innovative financial services for SMEs need to be studied to develop not only for fintech startups but also for traditional financial institutions and technology companies. Dr Luong Thai Bao, executive director of the Bachelor of Financial Technology Programme at the National Economics University, said that Viet Nam had a large number of SMEs, while it also has a high IT application index in the region. SMEs … [Read more...] about Viet Nam needs to develop fintech services for SMEs

Three bright points The first bright point in the five-month FDI picture is the disbursement of US$7.71 billion, a year-on-year increase of 7.8 percent. The Foreign Investment Agency of the Ministry of Planning and Investment attributed this positive result to the continuous and effective support of the government and relevant state authorities, the business community’s efforts, and the recovery of the Vietnamese economy. Binh Duong Province hands over investment certificates to businesses Although the amount of FDI capital attracted in the first five months was 16.3 percent lower than that in the same period last year, the increased disbursement reflected Vietnam’s attractiveness to foreign investors. The second bright point is the strong increase in the number of projects and the amount of registered capital. Specifically, 395 projects registered capital increases totaling more than US$5.61 billion, up 15.5 percent in the number of projects and 45.4 percent in … [Read more...] about Five-month foreign investment highlights

Mr. Phan Van Mai, Chairman of the HCMC People's Committee (R)  talks with investors. (Photo: SGGP) At the conference, Mr. Phan Van Mai, Chairman of the HCMC People's Committee, said that the city wants to listen to the opinions of investors, including their proposals, for authorities to prepare the legal frameworks, orientations, and conditions for enterprises to develop in the future. “Besides attracting new investments, we also need to restructure existing ones. The city is responsible for creating the space, legal framework, and conditions to support enterprises to increase the value of projects," Mr. Phan Van Mai emphasized. Since its establishment in 2002, SHTP Management Board has granted investment registration certificates to 163 projects, with a total investment capital of over US$12 billion. Of which, FDI capital is over $10.1 billion, and domestic capital is over $1.96 billion. The accumulated total value of high-tech production of the SHTP is estimated at $120.307 … [Read more...] about HCMC pledges to facilitate enterprises to increase value in SHTP

HCM City has decided to shorten the process of licensing social housing projects. — VNA/VNS Photo HCM CITY — HCM City has decided to shorten the process of licensing social housing projects from 500 days to 133 if developers use private lands and 217 days if they use unencumbered public land they have to bid for. The People's Committee met several times every week to discuss the problems plaguing housing projects, its chairman, Phan Văn Mãi, said. “The guidelines for investment procedures to build accommodation for workers will be issued by July 15 at the latest. Detailed information will be sent to the people's committees of districts and management boards of export processing zones and industrial zones in HCM City.” With regard to investment and renovation of old apartments, he admitted there were a number of problems from determining financial obligations and choosing investors and meeting residents. Discussions with the Ministry of Construction have helped resolve some … [Read more...] about HCM City abridges social housing investment process

An ETC station on the Hanoi-Hai Phong Expressway. (Photo: VNA) Hanoi (VNS/VNA) - The Ministry of Transport has asked the Directorate for Roads of Vietnam (DRVN), the Vietnam Expressway Corporation (VEC), the Vietnam Infrastructure Development and Finance Investment Joint Stock Company (VIDIFI), and other service providers to realise the Prime Minister's request on completing automatic non-stop toll collection (ETC). The ministry requested VEC to direct service providers and related units to urgently install and operate the ETC system on highways by July 31. In case of delay, the ministry will handle it according to its competence or report it to authorities for strict handling in accordance with the law, including the suspension of toll collection. The ministry asked DRVN to direct and coordinate with VEC in deploying the ETC system on highways managed by VEC, ensuring the schedule and smooth operation. Meanwhile, VIDIFI was asked to continue piloting the ETC on the … [Read more...] about Automatic toll collection set for all expressways in Vietnam by end of July

The central bank is seeking feedback on its draft circular that sets stricter conditions for real estate loans as a measure to mitigate speculation and risk of a bubble burst. If projects have not yet become legally eligible, there is a high possibility of customers and owners canceling the contract over the failure in acquiring needed permits. This will complicate commercial banks’ management of capital and potentially pose risks to the economy, the central bank argues. Le Hoang Chau, chairman of the Ho Chi Minh City Real Estate Association (HoREA), deemed the move "necessary", noting that loans are still allowed for projects that meet legal requirements. "The draft not only helps protect customers’ rights and benefits, but also build a healthier real estate market," Chau said. Tran Khanh Quang, director of property developer Viet An Hoa, estimated that around 20 percent of homebuyers pay their deposits with loans. The approval process for these loans have been tightened in … [Read more...] about No home loans against legally incomplete projects: central bank