With the Government encouraging noncash payments, e-banking service is promising in Vietnam, experts said at the Vietnam Retail Banking Forum 2016 in Hanoi on December 1.
HCMCity (VNA) – With the Government encouraging noncash payments,e-banking service is promising in Vietnam, experts said at the Vietnam RetailBanking Forum 2016 in Hanoi on December 1.
Accordingto a 2015 research of the Business Monitor International, Vietnam’s Internetusers grew at an average annual rate of 9 percent, ranked 15th worldwide.
Thecountry has a younger population compared to other nations in the region, with Internetpenetration rate reaching 52 percent of the population. Local banks said some44 percent of their customers use banking services, which are expected toaccount for 44 percent of total banking revenue by 2018.
TranNhat Minh, Deputy CEO and Chief Digital Officer of the Vietnam InternationalBank (VIB), said major challenges facing digital banks relate to a change fromthe traditional business culture, running costs and technology foundations.
SujeethSamrat, a banking senior adviser, said the point is how to attract customers toonline services and to better meet their demand.
Eachbank need to develop a business strategy that work best for its technologies,database and business model, he noted.
Healso suggested cooperation between banks and retailers to boost the diversity,convenience and safety of their products.-VNA
Vietnam is expected to lure many foreign banks, especially those operating in the retail segment, once the country removes all technical barriers in the banking sector this year.
Supporting businesses is among the focal tasks of the banking system from now to 2020, said Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.
Vietnamese shares extended gains on September 28, driven by the banking sector on expectations that lower short-term deposit rates would boost lending for the economy and local businesses.
Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Kim Anh has asked the banking sector to enhance efforts to improve access to banking services for the economy.
The banking sector is committed to continuous improvements in customer service, applying advanced technology and enhancing its operational, financial and managerial competencies
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 (Source: vnexpress) 
