Việt Nam’s consumer finance market has been growing in recent years but it is still small compared to other Southeast Asian countries and has room for development. According to our market research, by the end of 2017, outstanding consumer loans were equivalent to 22 per cent of the country’s GDP and 17 per cent of the country’s outstanding loans. It is also reported that most consumer loans in Việt Nam concentrate on housing improvement, which makes the actual loans for consumer durables and consumer services much smaller than the 22 per cent of GDP. As a result, Việt Nam’s consumer finance market is behind other regional peers and growth opportunities are still there. … [Read more...] about A bright future for Việt Nam’s consumer finance market
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Andree Mangels, general director of Adecco Vietnam stated that, "Given the recent unfortunate increase of COVID-19 cases in Vietnam, leading some cities to return to social distancing and remote working, it’s a unique opportunity for managers to re-think their leadership approach. High EQ is now the gold standard for leaders through this potentially stressful period. We recommend to invest time into deep listening combined with the ability to minimise quick judgment and refraining from providing only advice. Promoting a culture of compassion and caring will help keep your people motivated, engaged, and productive.’’ … [Read more...] about How does business prepare for the ‘second wave’ of COVID-19 across Vietnam?
“According to the Ministry of Finance (MoF), the biggest problem is Agribank’s large scale in terms of network with over 2,300 branches and transaction offices, including a number of housing facilities that have not been approved by the MoF,” Huyen told VIR. … [Read more...] about Banks weigh up options through exchange shake-up
Hanoi (VNS/VNA) - Transportation firms have welcomed the Ministry of Finance’s recent move to reduce road maintenance fees by up to 30 percent to aid businesses hit hard by the COVID-19 pandemic. The Ministry of Finance early this week issued a circular to cut road maintenance fees for passenger transportation vehicles by 30 percent and 10 percent for trucks, tractors and other special vehicles. The reductions apply from August 10 to the end of this year. From January 1, 2021, road maintenance fees will return to the levels before August 10. According to Khuc Huu Thanh Hai, director of Dat Cang Transportation, Trading and Services Joint Stock Company, cutting road maintenance fees would be a significant aid to transportation companies amid the pandemic. With around 400 five-seat cars and 70 47-seat buses, Hai said his company could save a considerable sum from the fees reduction. Hai, however, said he had expected bigger reductions because the … [Read more...] about Transport firms cheer road maintenance fee reductions
"We have to go to many film festivals and fairs to introduce films by putting up posters and buying booths there," Hien said at a recent conference. As the cost may exceed revenue, many Vietnamese films are released abroad in DVD versions or shown on TV. Only few movies can make it to the commercial cinemas. … [Read more...] about Vietnam filmmakers sense openings, but global presence a distant dream