Banking & Finance

On July, 29, the “Tax on e-commerce and cross-border digital services: International experience and Vietnamese practice” conference was held by the Institute of Financial Strategy and Policy in cooperation with General Department of Taxation. Analysts believe that tax revenue from e-commerce could skyrocket with control over cross-border trading and payment transactions for digital services based on completing a legal corridor and using technology.

According to the Ministry of Finance, the disbursement of public investment this year reached nearly VND187 trillion ($8 billion) as of July 31, equal to 34.4 per cent of the annual plan and down slightly year-on-year. More than VND56 trillion ($2.4 billion) in public investment is still to be allocated, or over 10 per cent of the plan.

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has released its business results for the first half of the year.

Commodity prices have been gradually cooling since the beginning of June, signaling a reversal after the strong increases seen over the past two years. According to Agriseco’s assessment, there will be three main groups of beneficiaries from this reversal: plastics, cement, and cattle.

A representative from the Payment Department at the State Bank of Vietnam told a press conference to announce “Digital Transformation Day” that banking services on digital platforms continue to develop strongly, especially digital banking services. E-payment services have also been digitized and are growing rapidly. In the first half of this year, non-cash payments increased 77.2 per cent in quantity and 29.8 per cent in value.

Through many ups and downs, Vietnam’s stock market has played an important role as a capital channel for the economy in the 22 years of its establishment. A key highlight has been the strong growth in market capitalization. According to forecasts, the stock market will be upgraded to emerging market status in 2024 and will attract $10 billion in investment.