Government intensifies support for non-cash payment methods

The Government required the State Bank of Vietnam to report on a project exploring depositing cash into electronic wallets without bank payment accounts, according to Resolution 02 released on the first day of 2019.

Five cases when assets of foreign bank branches are frozen

The State Bank of Vietnam recently issued Circular 27/2018/TT-NHNN to specify cases of freezing capital and assets of foreign bank branches, aiming to protect interests of these branches’ clients and prevent them from illegally transferring their assets abroad.

Favorable conditions created for corporate bond issuance

Under Government Decree 163, which is designed to replace Decree 90 of 2011, from February 1, enterprises that have operated for at least one year after obtaining enterprise registration certificates will be allowed to issue corporate bonds.

New circular on securities-related service prices

The Ministry of Finance has issued new securities-related service regulations for trading organizations and commercial banks doing business in Vietnam’s securities market.

Foreign currency lending extended into 2019

The State Bank of Vietnam has recently issued a circular to allow credit institutions and foreign bank branches to extend loans in foreign currencies to some borrowers in 2019, rather than cutting them off at the end of last year as planned.

Vietnam strives to top the region in tourism growth

By 2025, Vietnam will be among the regional countries with fastest tourism development with total revenues from the hospitality sector reaching USD 45 billion, of which exports through tourism will be USD 27 billion.

Government continues cutting costs for businesses

By 2020, enterprise inspection and examination plans and handling results will be publicized on websites or portals of inspecting agencies.

New regulation on inspection and verification of origin of exports

The Ministry of Industry and Trade has recently issued Circular 39 prescribing the inspection and verification of origin of exports, which will take effect on December 14.

Government increases fines for multi-level marketing violations

The Government has recently issued Decree 141 revising a number of articles of the decrees on sanctioning of administrative violations in multi-level marketing.

New rules on international multimodal transport

A domestic or foreign-invested enterprise wishing to conduct international multimodal transport business Vietnam is now required to obtain a license granted by the Ministry of Transport.