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ADB: Vietnam needs more credit rating agencies
Banking & Finance

ADB: Vietnam needs more credit rating agencies

Mr. Don Lambert, Head of the Private Sector Development Department at the Asian Development Bank (ADB) in Vietnam, told the “Development of the corporate bond market - Trust and responsibility” seminar on September 13 that Vietnam’s capital market has developed rapidly and is expected to grow further in the future. He also said that the development of credit rating agencies and the bond market are not synchronized and the country needs more of the former.
Banking & Finance

8M State budget in surplus

The Ministry of Finance has said that total State budget revenue reached VND106 trillion ($4.48 billion) in August, a fall of VND46 billion ($1.94 billion) compared to July. Revenue increased in the first eight months, however, by 19.4 per cent year-on-year and posted a surplus of more than VND250 trillion ($10.56 billion).
Banking & Finance

Tax office strengthens management of e-commerce platforms

Vietnam is one of the first countries in Southeast Asia to successfully implement national tax rights for foreign enterprises conducting cross-border e-commerce. After more than five months of operating a portal for foreign suppliers, 30 companies voluntarily declared and paid taxes of more than VND520 billion ($22 million). To continue to strictly control taxes in this area, the General Department of Taxation is building a portal to receive information from e-commerce platforms.
ADB: Vietnam needs more credit rating agencies

ADB: Vietnam needs more credit rating agencies

Mr. Don Lambert, Head of the Private Sector Development Department at the Asian Development Bank (ADB) in Vietnam, told the “Development of the corporate bond market - Trust and responsibility” seminar on September 13 that Vietnam’s capital market has developed rapidly and is expected to grow further in the future. He also said that the development of credit rating agencies and the bond market are not synchronized and the country needs more of the former.
Corporate bond market to provide needed capital

Corporate bond market to provide needed capital

At a seminar on the development of the corporate bond on September 13, analysts said the market has grown 30-35 per cent annually in recent years. If such growth can be maintained, the total market size will reach VND11.2 quadrillion ($473.68 billion) in the next six years, thus easing capital pressure on banks and credit institutions.
Improving credit quality to control credit

Improving credit quality to control credit

Sharing his views on controlling credit growth in the context of inflationary pressure, Mr. John Andre, a researcher and senior lecturer at a number of universities in Vietnam, said that one of the purposes of credit control is to improve credit quality and ensure the operational safety of the banking system. Vietnam’s credit/GDP ratio is currently at a high level and tending to increase.
8M State budget in surplus

8M State budget in surplus

The Ministry of Finance has said that total State budget revenue reached VND106 trillion ($4.48 billion) in August, a fall of VND46 billion ($1.94 billion) compared to July. Revenue increased in the first eight months, however, by 19.4 per cent year-on-year and posted a surplus of more than VND250 trillion ($10.56 billion).
Tax office strengthens management of e-commerce platforms

Tax office strengthens management of e-commerce platforms

Vietnam is one of the first countries in Southeast Asia to successfully implement national tax rights for foreign enterprises conducting cross-border e-commerce. After more than five months of operating a portal for foreign suppliers, 30 companies voluntarily declared and paid taxes of more than VND520 billion ($22 million). To continue to strictly control taxes in this area, the General Department of Taxation is building a portal to receive information from e-commerce platforms.
Little concern over USD/VND depreciation

Little concern over USD/VND depreciation

The USD/VND exchange rate depreciated 0.5 per cent in August and there is pressure on the local currency. With stable macro-economic indicators and flexible management adopted by the State Bank of Vietnam, however, securities companies believe the VND will not depreciate by more than 3 per cent this year.

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