Results from the first half of this year showed Việt Nam’s economy had maintained impressive growth momentum. However, despite the promising economic prospects this year, the economy still faced many challenges. Phạm Sỹ Thành, director of the China Economic Research Programme at the Việt Nam Centre for Economics and Policy Research, and Trần Toàn Thắng, head of the National Centre for Socio-economic Information and Forecast’s World Economic Department, spoke to Việt Nam News reporter Nguyễn Linh Anh about the likely challenges in the second half as well as the impact of external factors, particularly US-China trade tensions, on Việt Nam’s economy. Phạm Sỹ Thành, director of the China Economic Research Programme at the Việt Nam Centre for Economics and Policy Research Phạm Sỹ Thành, director of the China Economic Research Programme at the Việt Nam … [Read more...] about What challenges face VN’s economy in H2?
SMEs face multiple challenges in obtaining bank loansBy Minh Tam Dang Duc Huy, director of the Retail Banking Division at Saigon Commercial Bank, speaks at a seminar in HCMC today, July 28 - PHOTO: THANH HOA HCMC – Despite numerous preferential policies offered by banks in HCMC intended to attract borrowers, small and medium enterprises (SMEs), which are in dire need of capital, still face difficulties in accessing bank loans, according to speakers at a seminar in HCMC today, July 28. At the seminar, titled “Where can small enterprises borrow low-interest loans?”, jointly held by The Saigon Times and Saigon Commercial Bank (SCB), Nguyen Hoang Minh, deputy director of the HCMC branch of State Bank of Vietnam, noted that banks have offered multiple incentives on credit, interest rates and exchange rates to support SMEs, which make up 97% of the total firms in Vietnam. Banks have prioritized pumping capital into production and business activities, he added. … [Read more...] about SMEs face multiple challenges in obtaining bank loans
Viet Nam News CẦN THƠ — Vietnamese businesses have not yet taken full advantage of the potential to create high added value with low cost in the production chain, said Deputy Regional Managing Director of the US-ASEAN Business Council in Việt Nam, Vũ Tú Thành. Thành spoke at a workshop held in the Mekong Delta city of Cần Thơ, which focused on trade facilitation and promoting small and medium enterprises (SMEs) to join the global value chain. The workshop was attended by more than 240 leaders and senior officials from the Ministry of Industry and Trade, General Department of Customs and small and medium enterprises (SMEs) nationwide. The workshop aimed to implement the Memorandum of Understanding (MoU) signed between the US-ASEAN Business Council and the Vietnam Chamber of Commerce and Industry (VCCI), providing SMEs with the information and skills to participate in the global value chain effectively. The participants discussed … [Read more...] about SMEs urged to take advantage of FTA opportunities
The first-ever Fintech Challenge Vietnam 2017-2018 (FCV) crowned Weezi Digital for addressing Vietnam’s need for financial solutions and helping the country fulfill its financial inclusion goals. Vietnamese fintech Weezi Digital has been granted $25,000 to continue launching biometric solutions to help financial institutions take on mobility and digitalisation in order to shape the future banking and payment landscape in Vietnam. Weezi Digital’s representative said they collaborate with banks to enhance and bring a level of technological knowledge and the banks’ services to customers at Vietnam National Finteh Day held on May 30. The first and second runners-up are KIU Global and Wecash. KIU Global, which received $15,000, is known as a cross-border B2B platform supporting SMEs in Southeast Asia, while Wecash ($10,000) is a fintech arranger with a credit scoring engine powered by machine learning and big data from non-traditional sources to facilitate faster and … [Read more...] about Weezi Digital named as winner of Fintech Challenge Vietnam
Talking about the bank’s business strategy in Vietnam, Pattanapong Tansomboon, first senior vice president of Kasikornbank (KBank), spoke to VIR’s Sam Luong about the prospects of Vietnamese small- and medium-sized enterprises (SMEs) in the finance and banking sector, the bank’s specialisation and experiences in handling financial crises, and how the bank plans to promote the long-haul growth of Vietnam-based SMEs. What were the purposes of the seminar hosted on March 30? One of the main targets was to bridge the gap between the government and the private sector to create a nurturing environment for the long-term growth of Vietnam-based SMEs. With the long history of the Thai government in carrying out favourable policies for the SME segment, especially in tackling financial crises, the seminar was one of the measures KBank and MPI brought out to discuss the current financing challenges and provide practical solutions. What do you think of the current development … [Read more...] about Kasikornbank pledges seven decade experience to Vietnamese SMEs