New circular on independent audits for foreign bank branches kicks in on April 15
A circular stipulating independent audits of credit institutions and foreign bank branches issued by the State Bank of Vietnam will take effect from April 15.
Hanoi (VNA)🎀 – A circular stipulating independent audits of credit institutions and foreign bank branches issued by the State Bank of Vietnam will take effect from April 15.
Circular 24 amends and supplements several articles of the central bank’s Circular 39 dated December 15, 2011.
Under the new circular, internal control systems, including mechanisms, policies and regulations, of credit institutions and foreign bank branches in Vietnam, will be subject to independent auditing.
The performance of the internal control system during the preparation and presentation of financial reports, as well as the assessment of foreign bank branches’ capital capacity, will also be audited.
The move aims to ensure efficient and safe operations of credit institutions and foreign bank branches, and protect, manage and effectively use assets and resources./.
The Ministry of Finance has coordinated with relevant agencies to complete a report on the development the National Credit Rating Improvement Project for the 2021-2030 period to submit to the Prime Minister for approval.
The State Bank of Vietnam (SBV) has proposed to continually handle bad debts of credit institutions based on the provisions of pilot Resolution 42/2017/QH14 until 2025 instead of this year.
The Government has agreed to a proposal by the State Bank of Vietnam (SBV) to extend the pilot bad debt settlement of credit institutions based on Resolution 42/2017/QH14.
Nearly 60 percent of credit institutions forecast their business performance results to improve in Q2 after estimating those in Q1 to be not as good as expected, the latest survey by the State Bank of Vietnam (SBV) showed.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative image (Photo: VNA)
