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Three Vietnamese banks listed in Forbes Global 2000

Three Vietnamese banks have been listed among the world’s biggest public companies in 2015 (Global 2000) by the US magazine Forbes.
Three Vietnamese banks have been listed among the world’s biggest publiccompanies in 2015 (Global 2000) by the US magazine Forbes.

The Vietnam Joint Stock Commercial Bank for Industry and Trade(VietinBank) is ranked 1,902th with assets worth 30.91 billion USD and amarket value of 3 billion USD as of May this year. It earned 2.26billion USD in revenue and 269.4 million USD in profits.

Forbes placed the Bank for Investment & Development of Vietnam(BIDV) at 1,913th in the list, worth 2.3 billion USD in market value andowning 30.41 billion USD in assets. It raked in 2.44 billion USD inrevenue and 233.7 million USD in profits.

Meanwhile,the Joint Stock Commercial Bank for Foreign Trade of Vietnam(Vietcombank) was named as the 1,985 th biggest company with a marketvalue of 4.4 billion USD and assets of 26.85 billion USD. It gained 1.65billion USD in revenue and 216.6 million USD in profit.

The Global 2000 is based on revenues, profits, assets, and market value of public companies in the world.

Businesses in this year’s ranking are from across 61 countries andterritories. They have combined revenues of 39 trillion USD, profits of 3trillion USD, assets worth 162 trillion USD and a market value of 48trillion USD.-VNA

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A motorbike production line of Honda Vietnam — a Japanese company located in Phu Tho province. (Photo: VNA)

💟 Phu Tho emerges as FDI magnet following mergence

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.
Infraction levels will correspond to fines of 1-80 million VND, depending on the nature and number of invoicing violations. (Photo: vietnamfinance.vn)

🌱 Maximum fine of 3,000 USD proposed for violating invoice regulations

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.
At the strategic partnership signing ceremony between Sun PhuQuoc Airways and Amadeus. (Photo: Sun Group)

🏅 Sun PhuQuoc Airways enters strategic partnership with Amadeus to build a five-star aviation technology ecosystem

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.
A local resident makes a bank transfer using the Momo app. (Photo: VNA)

ꦏ Banks accelerate digitalisation, non-cash payments

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.
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