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Official Gazette

Thursday, August 6, 2020
Tags: cash use
Insurance market expected to grow 20 percent Insurance market expected to grow 20 percent
Vietnam’s insurance market is expected to achieve a growth rate of more than 20 percent this year, according to Vietnam Report (VNR).
Vietnam wishes to further promote cashless payment Vietnam wishes to further promote cashless payment
The first “Cashless Day” of Vietnam was held on June 16 with a series of events designed to encourage non-cash payment in the country.
International football betting via e-wallets and mobile money permitted International football betting via e-wallets and mobile money permitted
Bettors might use bank accounts, e-wallets and prepaid telecoms accounts to pay for their bets on horse and greyhound races and international football matches.
Conflicts of interest between the lessee and the chargee of an asset: a view from secured lending practice Conflicts of interest between the lessee and the chargee of an asset: a view from secured lending practice
In lending practice, leasing out a charged asset is common practice for the chargor to exploit the value of such asset. There are still loopholes and drawbacks in the legal framework governing the relationship between the lessee and the chargee of an asset. For this reason, there are many risks facing banks as chargees.
Vietnams e-commerce market to surpass USD 17 bln in 2023 Vietnam’s e-commerce market to surpass USD 17 bln in 2023
Vietnam’s e-commerce market is projected to grow at a compound annual growth rate (CAGR) of 16.3 percent from USD 9.4 billion last year to USD 17.3 billion in 2023, data analytics company GlobalData forecast.
Building and improving the legal framework on foreign exchange management Building and improving the legal framework on foreign exchange management
In recent years, especially 2019, the world economy witnessed a series of insecurities. While almost all economies show signs of a slowdown, trade tensions among economic giants, especially the US-China trade war, continued to undergo complicated developments. As a result, the global growth rate in 2019 dropped to the lowest level since the 2008-09 financial crisis. Gold prices spiked and crude oil prices strongly fluctuated, giving rise to risks in the international market and consequently, many countries had to loosen their fiscal and monetary policies.
PM approves national financial inclusion strategy until 2025 PM approves national financial inclusion strategy until 2025
Prime Minister Nguyen Xuan Phuc has approved a national financial inclusion strategy until 2025 with a vision to 2030, targeting at least 80 percent of adults in the country to have bank accounts by 2025.
The digital economy thrives in Vietnam The digital economy thrives in Vietnam
Developing the digital economy is considered by many countries an inevitable trend of Industrial Revolution 4.0 (also known as Industry 4.0). The Vietnamese Government has resolved to grasp this development trend while showing efforts to concentrate resources and create an environment for accelerated development of the digital economy.
Security over deposits Security over deposits
In practice, deposits at banks are used as security a great deal. However, the legal framework applicable to that kind of property remains unclear. This article tries to give an overview of the applicable provisions regarding security over deposits and to suggest how to properly construe and improve them.
Businesses must entirely use e-invoices from late 2020 Businesses must entirely use e-invoices from late 2020
One year after the release of Government Decree 119 of 2018 on e-invoices in goods sale and service provision, the Ministry of Finance on September 30 issued a circular providing more detailed guidelines on this matter.

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