Green Economy
UK launches new climate and green finance partnerships with Vietnam
The initiatives aim to accelerate Vietnam’s energy transition and sustainable development agenda.
Investment
Ministry proposes special mechanism for North-South Expressway expansion
Under the medium-term public investment plan for the 2026–2030 period, the Ministry of Construction has organized the preparation of a pre-feasibility study to widen sections of the Eastern North-South Expressway.
VET Exclusive
UK supports Vietnam’s economic transformation through its financial services sector
As a Comprehensive Strategic Partner of Vietnam, the UK is supporting the country's economic transformation through its financial services sector, as well as through investment, expertise, innovation, and long-term institutional cooperation.
WB provides credit for economic recovery
A new credit package from the World Bank (WB) aims to encourage policy reform under two pillars: support economic recovery through tax and financial support for the growth of businesses; and contribute to greening trade policies, promoting e-government, and increasing the use of renewable energy. The WB is optimistic that Vietnam’s pace of reform will be accelerated in the time to come.
MoF adds to list of reduced fees and charges
The Ministry of Finance (MoF) has added three additional fees and charges to a list of those reduced from January 1, raising the total from 34 to 37. Reductions are between 10 and 50 per cent to support those affected by Covid-19.
Little activity on stock market as year-end arrives
The stock market has been less active than previously in the final transaction week of 2021. A sharp fall in liquidity may come from the limited use of margins and not many investors wanting to act “recklessly” at this time. Small bank stocks, however, increased.
Chip card ecosystem not fully widespread
In the domestic chip card ecosystem are important markets that have a small rate of cashless payments, such as public transport. The use of cashless payments in these markets face many difficulties, with connectivity between sectors lacking.
Digitalization changing face of retail banking services
Mr. Nguyen Quoc Hung, General Secretary of the Vietnam Bankers Association, told the “Developing personal banking services to boost retail banking performance” video seminar that online banking services such as internet banking and mobile banking have seen strong growth in recent times, sparking remarkable change in retail banking services. Low-income earners in remote areas, however, are still not universally accessible.
Record profits seen in 2021
Vietnam’s stock market set many records in 2021 despite Covid-19, helping companies such as Vinatex, PV Oil, Petrolimex Insurance, BIDV Securities (BSI), and Hai An Container Transport (HAH) post outstanding profits.