Banking & Finance

The ESG practices of banks and, more importantly, how the practices of their borrowers are assessed, are crucial elements of Vietnam’s journey toward sustainability.

Lending rates at least 1 percentage point lower than commercial banks’ average lending rates for loans of the same maturity.

Mr. Rich McClellan, CEO of the Vietnam International Financial Center in Ho Chi Minh City (VIFC-HCMC), tells Linh Tong about the long-term vision for the VIFC and the steps needed to build a trusted gateway for international capital.

Mr. Jochen Biedermann, Managing Director of the World Alliance of International Financial Centers, tells Ngoc Lan that Vietnam holds certain advantages as it goes about building an International Financial Center.

According to the proposal, household and individual businesses with total annual revenue not exceeding VND10 billion ($381,000) in 2026 and 2027 will be eligible for a 30% reduction in personal income tax (PIT) for each respective year.

Much has been done to establish the legal framework and introduce the cooperative agreements needed to operate a carbon market in Vietnam and efforts are ongoing.