Business

IMF: Economic momentum expected to continue in 2019

 IMF: Economic momentum expected to continue in 2019

The Executive Board of the International Monetary Fund (IMF) has concluded its Article IV Consultation with Vietnam.

Toll stations proposed to restrict cars in HCM City centre

HCM City Department of Transport has proposed spending of VND250 billion (USD10.86 million) to build 34 city centre toll stations for cars.

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Motorbike sales continue falling

Motorbike sales in the second quarter of this year dropped by 4.39% on-year, according to the Vietnam Association of Motorcycle Manufacturers.

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Vietnam Airlines plans to push for organizational restructuring

Vietnam Airlines plans to push for organizational restructuring in the second half of this year, according to its business performance report for the first half, released on July 16.

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Vietnamese stock market attracts foreign investment

Vietnam’s stock market has been evaluated as a bright spot in the region in terms of growth speed and foreign capital absorption for years, according to Chairman of the State Securities Commission (SSC) Tran Van Dung.

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 Aviation sector serves 38.5 million passengers in H1

The aviation sector served 38.5 million passengers in the first six months of this year, a year-on-year rise of 9.4 percent, according to the Civil Aviation Authority of Vietnam (CAAV).

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Foreigners still permitted to make term deposits at Vietnamese banks

Resident and non-resident foreigners in Vietnam are still permitted to make term deposits at local banks despite some banks saying they would not accept savings deposits from individual foreign customers, the State Bank of Vietnam has said.

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Vietnam plans to become leading digital economy in ASEAN by 2030

Vietnam will become a leading digital country and economy in the ASEAN region by 2030 and allow testing of new technologies in the digital economy.

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Foreign financial institutions were eyeing up poorly-performing Vietnamese banks after being given the green light to acquire stakes in local institutions in a move to speed up the restructuring of the country’s banking industry, according to banking expert Nguyen

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Vietnam had 12,327 people with USD3 million to below USD30 million in net assets by the end of 2018, up 23% over the past five years and the figure is projected to reach 15,776 people by 2023.

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Many banks have seen their service earnings accelerate, buoyed by increasing investment for the business segment and rising market demands.

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Vietnam has set a target to restrain inflation at below 4% in 2019, however, there may be challenges.

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Vietnam’s public debt in 2018 was estimated to account for less than 61% of national GDP, according to an official from the Ministry of Finance.

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Local banks have increasingly sought cross-border borrowings in recent years after being pressured to raise capital for lending.

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