Banking & Finance
Vietnam starts pilot operation of crypto asset market
The pilot program will run for five years.
Vietnam Today
Gold market inspection team set up
The inspection will cover activities related to gold trading, anti-money laundering, and the issuance and use of invoices and documents, along with other relevant issues.
Vietnam Today
Prime Minister Pham Minh Chinh works with Policy Advisory Council
Prime Minister Pham Minh Chinh stated that the Government continues to expand fiscal policy; implements a proactive, flexible, appropriate, and effective monetary policy, closely adhering to practical conditions for management...
HSBC Vietnam extends green finance solutions
Bank further commits to net zero transition with latest move.
Bank deposits by economic organizations on the rise
Data from the State Bank of Vietnam (SBV) reveals that total bank deposits by Vietnamese economic organizations this year stood at more than VND5.03 quadrillion ($218.6 billion) as of the end of May, up 3.26 per cent compared to the end of last year. In May, such organizations deposited VND59.12 trillion ($2.56 billion), accounting for four-fifths of net additional deposits.
Stricter control over valuation companies adopted
The quality of the 411 enterprise valuation companies in Vietnam and their 2,352 appraisers is quite low, which can create corruption and difficulties in State management. The Ministry of Finance has therefore revoked the Certificate of Eligibility For Providing Valuation Services from 65 companies and suspended the business valuation services provided by 26 companies. In order to overcome the limitations and shortcomings after more than seven years of implementing price laws, the ministry is also studying related amendments, including stricter regulations on valuations.
Vietnam Bank for Social Policies refinanced to support workers
The State Bank of Vietnam (SBV) issued Circular No. 10/2021/TT-NHNN on July 21 on refinancing the Vietnam Bank for Social Policies (VPSB) so it may support employees and employers affected by the pandemic. Total refinancing is VND7.5 trillion ($325.94 million), and the refinancing interest rate and overdue refinancing interest rate are both 0 per cent per annum.
Deputy PM directs MoF to look at taxes on house rentals
The Office of the Government has issued Official Letter No. 4974/VPCP-KTTH, conveying directions from Deputy Prime Minister Le Minh Khai on assigning the Ministry of Finance (MoF) to review and resolve considerations on tax regulations and complete regulations on collecting value-added tax and personal income tax for house rentals in Vietnam.
Banking sector supporting enterprises during pandemic
The State Bank of Vietnam and credit institutions have actively promoted solutions to help enterprises overcome the impact of Covid-19 since it first broke out in the country. The accumulated amount of interest exemptions and reductions for enterprises from January 23, 2020 to June 14, 2021 is VND18.27 trillion ($793.6 million). Such exemptions and reductions are expected to continue to rise.